PolyOne to Close Several Plants Across North America

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Researched by Industrial Info Resources (Sugar Land, Texas)--PolyOne Corporation (NYSE:POL) (Avon Lake, Ohio) will close several of its plastics compounding plants across North America beginning early next year. The plants slated for closure are located in Plaquemine, Louisiana; Sussex, Wisconsin; Macedonia, Ohio; and Building 452 of the corporate vinyls complex in Avon Lake.

PolyOne will continue with manufacturing at most of these sites until the end of March 2009, with plans to begin dismantling immediately thereafter. Some of the lost production capacity, as well as several manufacturing lines, will be relocated and resumed at the company's Seabrook, Texas, and Kennesaw, Georgia, plants. Approximately 250 employees will be affected, many of whom will be offered other positions within the company while others will have to find new employment.

The closures and consolidation have prompted an estimated $8 million in investments planned for the Seabrook facility over the next year or more. This investment will include major upgrades and modifications throughout the plant, making room for several large components being relocated from the Avon Lake site. Construction is expected to begin by the end of this year and is slated for completion in mid-2009.

PolyOne is taking these major steps to restructure the company and remain competitive with its operations and supply chain across many platforms and businesses, while meeting the demand of its current customers. These changes come at a time when the price of raw materials and energy continue to rise and remain volatile.

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