Specialty polymer materials maker
) and its joint venture partner E.A. Juffali & Brothers
Limited have officially opened their new production plant in
Jeddah, Kingdom of Saudi Arabia.
The new facility will initially produce specialty color
concentrates with a potential for future expansion into other
product lines. It will greatly benefit customers in the Middle
East through local access to world-class specialty polymer
The opening of the new plant represents an expansion of the
long-standing collaboration between PolyOne and Juffali. The
companies formed the joint venture -Juffali PolyOne Masterbatch
Co. Ltd. - in Oct 2011.
PolyOne offered its formulation technology and material
science to the joint venture while Juffali brought its local
expertise in the region. Opening of the facility represents yet
another significant instance of PolyOne's "invest to grow"
strategy and reinforces its ability to offer grater value to its
PolyOne is a leading provider of specialized polymer
materials, services and solutions. It has annual sales of $3
billion and operations around the world.
PolyOne released its fourth-quarter 2012 results in Jan 2013
with adjusted earnings of 21 cents per share matching the Zacks
Consensus Estimate. Profit, as reported, fell to $3.1 million or
3 cents per share from $12.3 million or 13 cents per share a year
ago. Revenues rose 6% year over year to $679.4 million in the
quarter, beating the Zacks Consensus Estimate of $663
PolyOne made several achievements in 2012, including the
successful integration of ColorMatrix, a deal to acquire of
Spartech and the completion of the Glasforms buyout.
PolyOne currently maintains a Zacks Rank #3 (Hold).
Other companies in the chemical-plastics space with favorable
Zacks Rank are
Westlake Chemical Corp.
). While Tredegar and Westlake retain a Zacks Rank #1 (Strong
Buy), Landec holds a Zacks Rank #2 (Buy).
LANDEC CORP (LNDC): Free Stock Analysis
POLYONE CORP (POL): Free Stock Analysis
TREDEGAR CORP (TG): Free Stock Analysis
WESTLAKE CHEM (WLK): Free Stock Analysis
To read this article on Zacks.com click here.