) subsidiary, ColorMatrix, announced it would open a new facility
in South Africa to serve customers throughout Africa.
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The new facility, located in the Montague Gardens industrial
precinct in Cape Town, is expected to be operational from August
2012. PolyOne will initially supply, from this facility, liquid
colorants, additives and dosing equipment for customers who
manufacture products such as PET containers for the beverage and
personal care markets.
Even though the new operation will initially focus on ColorMatrix
products and services, this will serve as a platform to showcase
and promote other PolyOne businesses and services in this region.
PolyOne had acquired ColorMatrix Group, Inc., a highly specialized
company with a premier suite of additive technologies with a
leading market position in liquid colorants, in December last year.
The acquisition helped PolyOne to harness its potential in the
specialty business and expand globally. It in fact marked a
significant milestone in PolyOne's transformation to a global,
In the first quarter of fiscal 2012, PolyOne posted record sales of
$781 million, up 9% year over year. Earnings per share rose 12% to
29 cents in the quarter. Growth in North America, Asia and
accretion from the ColorMatrix acquisition helped offset weakness
PolyOne is expected to accelerate growth and entrench its leading
market position as the company leverages ColorMatrix's proprietary
technology and PolyOne's commercial resources on a global scale.
PolyOne Corporation is a leading provider of specialized polymer
materials, services and solutions. Headquartered outside Cleveland,
Ohio, PolyOne has operations around the world. It competes with
A. Schulman, Inc.
Georgia Gulf Corp.
). The stock retains a quantitative Zacks #3 Rank (short term Hold