POLYONE
Sales and income rise in 2011 / Record operating profit from specialty platform / “Critical point” reached in transformation into specialties business
Operating profit at US compounder and distributor PolyOne (Cleveland; www.polyone.com) increased by 33% year-on-year in 2011 to USD 233m on sales up 9% year-on-year at USD 2.9 bn. However, operating profit in the specialty engineered materials segment fell to USD 45.9m from USD 49.7m in 2010, on sales of USD 575m, up 11% year-on-year.
Operating profit in the company’s specialty platform, which includes the specialty engineered materials and colour, additives and inks segments, reached a record high of USD 89.3m, up 2% year-on-year, on sales of USD 1.12 bn, up 7%. Operating profit in the distribution segment also reached a high, up 33% at USD 56m on sales up 9% at USD 996m.
Stephen Newlin, PolyOne chairman, president and CEO said that 2011 was a “critical inflection point” in the company’s transformation into a specialty producer. During the year, it completed the acquisitions of Brazilian specialty engineering plastics producer and distributor Uniplen Indústria de Polímeros (Uniplen, São Paulo; www.uniplen.com.br) – see Plasteurope.com of 06.01.2011 – and leading liquid colorant, additive and fluoropolymer producer ColorMatrix (Berea, Ohio / USA; www.colormatrix.com) – see Plasteurope.com of 06.10.2011. The company also divested chlorine and caustic soda commodity manufacturer SunBelt during 2011.
“Looking at 2012, we expect another year of record adjusted earnings per share. However, growth rates may decelerate given the current economic environment,” Newlin said. “While a slowdown in the European economy and a weaker euro pose near term headwinds, we remain extremely optimistic about our medium to long-term growth prospects.”
e-Service:
PolyOne full year 2011 news release as a PDF document
Operating profit in the company’s specialty platform, which includes the specialty engineered materials and colour, additives and inks segments, reached a record high of USD 89.3m, up 2% year-on-year, on sales of USD 1.12 bn, up 7%. Operating profit in the distribution segment also reached a high, up 33% at USD 56m on sales up 9% at USD 996m.
Stephen Newlin, PolyOne chairman, president and CEO said that 2011 was a “critical inflection point” in the company’s transformation into a specialty producer. During the year, it completed the acquisitions of Brazilian specialty engineering plastics producer and distributor Uniplen Indústria de Polímeros (Uniplen, São Paulo; www.uniplen.com.br) – see Plasteurope.com of 06.01.2011 – and leading liquid colorant, additive and fluoropolymer producer ColorMatrix (Berea, Ohio / USA; www.colormatrix.com) – see Plasteurope.com of 06.10.2011. The company also divested chlorine and caustic soda commodity manufacturer SunBelt during 2011.
“Looking at 2012, we expect another year of record adjusted earnings per share. However, growth rates may decelerate given the current economic environment,” Newlin said. “While a slowdown in the European economy and a weaker euro pose near term headwinds, we remain extremely optimistic about our medium to long-term growth prospects.”
e-Service:
PolyOne full year 2011 news release as a PDF document
21.02.2012 Plasteurope.com 854 [221630-0]
Published on 21.02.2012
German version of this article...