Specialty polymer materials maker
) has commenced production in its new facility in Turkey. Based
in Istanbul, the facility has been geared to offer high-level
production, service and flexibility characteristics required by
the company's customers.
The operations involve increased capabilities to better serve
PolyOne's customers with an extended portfolio of specialty
polymer formulations. Apart from offering state-of-the-art
manufacturing, the new location provides a specially designed
layout for customer meetings, training and collaboration.
PolyOne is seeing increasing demand for its solutions in
Turkey. It is among the fastest growing markets for
thermoplastics globally. According to the Turkish plastics
industry association - Pagev - the country's plastics industry is
growing at more than 10% annually. PolyOne's specialty polymer
solutions address the needs of original equipment manufacturers
and plastics processors in the region.
PolyOne, which currently retains a Zacks Rank #3 (Hold), is a
leading provider of specialized polymer materials, services and
solutions. It has annual sales of $2.9 billion and operations
around the world.
PolyOne reported healthy third-quarter 2013 results in Oct
2013. Its profit from continuing operations went up roughly 20%
year over year to $23.2 million or 24 cents per share. Adjusted
earnings jumped 29% year over year to 36 cents per share.
Revenues shot up 43% year over year to $1 billion from $708
million a year ago on the heels of the acquisitions of Spartech
and Glasforms and organic growth across specialty and
PolyOne believes that it can continue to deliver double-digit
adjusted earnings per share growth in the final quarter of 2013.
Based on its current trajectory of organic growth and upside from
Spartech synergy capture, the company backed its target of
achieving adjusted earnings of $2.50 per share by 2015.
Other companies in the chemical and related industries worth
Asahi Kasei Corporation
Westlake Chemical Corp.
A. Schulman, Inc.
). While Asahi Kasei holds a Zacks Rank #1 (Strong Buy), both
Westlake Chemical and A. Schulman carry a Zacks Rank #2
ASAHI KASEI CP (AHKSY): Get Free Report
POLYONE CORP (POL): Free Stock Analysis
SCHULMAN(A) INC (SHLM): Free Stock Analysis
WESTLAKE CHEM (WLK): Free Stock Analysis
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