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July 21, 2008

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Additives: PolyOne adds Japanese, Indian presence

As part of its broader bid to grow its Asian business, specialty compounder PolyOne Corp. (Cleveland, OH) has formed business entities in Japan and India. PolyOne Japan Kabushiki Kaisha (PolyOne Japan Ltd.) is in Tokyo and will be led by Japan business development manager, Masato Sakuma, while PolyOne Polymers India Pvt. Ltd. will locate in Mumbai and be headed by Tushar Parida, managing director. In a release, PolyOne says Sakuma will focus on bringing PolyOne up to specification with Japanese OEMs and the importation of products for use by Japanese polymer processors. The company says target markets include electronics, automotive, packaging, and bio-related materials. The India site will include a lab and production facility, with construction to start later this year and color masterbatch production and the color lab operational in 2009.

The global expansion is part of a larger bid by the company to expand its sales beyond the U.S. In a July presentation to investors, PolyOne reported that 6% of its 2007 revenues of $2.8 billion came from Asia, trailing Canada (10%), Europe (19%), and the U.S. (64%). By 2011, its goal is for 40% of sales to come from outside the U.S., and it says it’s currently on track. Asia, and in particular the electronics market, are part of that plan, with PolyOne’s revenue in that particular end market growing 16% from 2006 to 2007 and topping $60 million. In related Asian facility moves, PolyOne recently completed the acquisition of Ngai Hing PlastChem Co.’s vinyl assets and operations, giving it entrée into South China’s vinyl compounding market.—[email protected]

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