PolyOne repositioning Elastomers and Performance Additives unit

CLEVELAND, Ohio (Aug. 31)—PolyOne Corp. said it is taking a series of actions within its Elastomers and Performance Additives operations to better align the business unit´s manufacturing assets, meet customers needs and better position the business for growing opportunities in new markets. The firm will close its Tillsonburg, Ontario, plant, and manufacturing will shift to other elastomer facilities in Ohio and Wisconsin where sufficient capacity exists, the company said. A small, non-strategic silicone compounding business in Dyersburg, Tenn., will be sold, and the plant will be closed effective with the sale. The company was forced to vacate its Chicago plant because of an eminent domain action by the city, but has decided to relocate its specialized roll-compounding business to its state-of-the-art production center in DeForest, Wisc. PolyOne expects to complete the transition by June 2002. Also, as part of the company´s plan to integrate the Performance Additives unit with its Specialty Resins and Formulators unit, it will eliminate 30 administrative positions in Performance Additives by the end of the second quarter. All of the moves stem from PolyOne´s ongoing review of Elastomers and Performance Additives, which resulted in the closing of its Kingstree, S.C., elastomer compounding plant by the end of the third quarter 2001, the company said.