CLEVELAND, March 13, 2018 /PRNewswire/ -- PolyOne Corporation (NYSE: POL) today announced that its advanced composite materials are increasingly enabling innovative and sustainable products that meet the changing market needs of the transportation industry.
"Transportation segments including aerospace, automotive, commercial and recreational vehicles can benefit from our advanced composites – in place of traditional materials – to reduce weight, improve strength, and increase design freedom," said Craig Nikrant, president, Specialty Engineered Materials, PolyOne Corporation. "In addition to materials formulation, we're collaborating with manufacturers in the early product development stages with predictive analysis and industrial design capabilities to help them create highly engineered, high-performing products."
With its advanced thermoplastic composites, PolyOne is at the forefront of emerging material and process technologies that manufacturers use to meet performance and sustainability goals. Fostering better fuel efficiency, fewer emissions, and increased miles per charge, these continuous fiber composites also streamline manufacturing processes for greater productivity.
"OEMs are successfully incorporating our thermoplastic composite technology and gaining value from our design expertise at every step of the product development cycle," said Robert M. Patterson, chairman, president and CEO, PolyOne Corporation. "These advanced, comprehensive solutions help customers meet their sustainability goals while also improving performance."
Mr. Patterson continued, "We plan to continue to invest in composite innovation and commercial resources to accelerate growth in these next generation materials. Composites will play an increasingly larger role in driving our future growth."
Launched in 2016 with the acquisition of Gordon Composites and Polystrand, PolyOne's Advanced Composites portfolio offers both thermoplastic and thermoset composite solutions with exceptional strength-to-weight ratios.
At its upcoming Investor Day on May 10, 2018, PolyOne plans to present additional details about composite innovation as one of several high-growth focus areas that underpin the company's expectation of delivering double digit EPS growth in 2018 and beyond.
About PolyOne
PolyOne Corporation, with 2017 revenues of $3.2 billion, is a premier provider of specialized polymer materials, services and solutions. The company is dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. Guided by its Core Values, Sustainability Promise and No Surprises PledgeSM, PolyOne is committed to its customers, employees, communities and shareholders through ethical, sustainable and fiscally responsible principles. For more information, visit www.polyone.com.
Forward-looking Statements
In this press release, statements that are not reported financial results or other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements give current expectations or forecasts of future events and are not guarantees of future performance. They are based on management's expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. They use words such as "will," "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial condition, performance and/or sales. Factors that could cause actual results to differ materially from those implied by these forward-looking statements include, but are not limited to: our ability to identify and evaluate acquisition targets and consummate acquisitions; the ability to successfully integrate acquired businesses into our operations, such as IQAP Masterbatch, Mesa, Rutland, Comptek, SilCoTec, Gordon Composites and Polystrand, including whether such businesses will be accretive, retain the management teams of acquired businesses, and retain relationships with customers of acquired businesses; disruptions, uncertainty or volatility in the credit markets that could adversely impact the availability of credit already arranged and the availability and cost of credit in the future; our ability to achieve new business gains; the effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks; changes in polymer consumption growth rates and laws and regulations regarding the disposal of plastic in jurisdictions where we conduct business; changes in global industry capacity or in the rate at which anticipated changes in industry capacity come online; fluctuations in raw material prices, quality and supply and in energy prices and supply; production outages or material costs associated with scheduled or unscheduled maintenance programs; unanticipated developments that could occur with respect to contingencies such as litigation and environmental matters; an inability to achieve or delays in achieving or achievement of less than the anticipated financial benefit from initiatives related to working capital reductions, cost reductions and employee productivity goals; an inability to raise or sustain prices for products or services; our ability to continue to pay cash dividends, including at the increasing rate, which will be subject to, among other factors, market conditions, our cash flow and cash requirements and restrictions contained in any of our debt agreements; and other factors affecting our business beyond our control, including, without limitation, changes in the general economy, changes in interest rates and changes in the rate of inflation. The above list of factors is not exhaustive.
We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future events or otherwise. You are advised to consult any further disclosures we make on related subjects in our reports on Form 10-Q, 8-K and 10-K that we provide to the Securities and Exchange Commission.
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SOURCE PolyOne Corporation
Investor Relations Contact: Eric R. Swanson, Director, Investor Relations, PolyOne Corporation, +1 440-930-1018, eric.swanson@avient.com; Media Contact: Kyle G. Rose, Vice President, Corporate Communications, PolyOne Corporation, +1 440-930-3162, kyle.rose@avient.com
