PolyOne to sell stake in color and additives joint venture

CLEVELAND (Dec. 23)—PolyOne Corp. will sell its 51-percent stake in a color and additive concentrates joint venture to partner TPM Holdings L.P. PolyOne will sell its majority stake in Techmer PM L.L.C. no later than Jan. 31, the firm said. Terms of the agreement and the purchase price were undisclosed. PolyOne and TPM Holdings' relationship started in 1997, when the M.A. Hanna Co., now a part of PolyOne, formed Techmer PM as a joint venture and a limited liability company. Techmer PM has production facilities in California, Tennessee, Georgia and Kansas, where it makes high-quality color and additive concentrates. Its proprietary dispersions are used for the fiber and films markets.