In connection with these changes, a separate facility located in Lockport, NY will also operate as part of producer services, and an administrative office in Washington, PA will close as this work is transitioned to Seabrook, TX. The company has realigned certain resources associated with Spartech's color and specialty compounds segment, based on how these resources will now report within PolyOne's businesses.
In July of 2013, PolyOne announced plans to close six manufacturing plants it received in the acquisition of Spartech and relocate production to other PolyOne facilities.
"Our multinational customers are increasingly concentrating production in North America and often choose Mexico as a strategic location," said Robert Patterson, executive VP and COO of PolyOne, in a news release. "Under the leadership of our producer services team located in Texas, we look forward to expanding our capabilities in Mexico with improved customer service, quality and delivery."
In October 2012, PolyOne announced the acquisition of Spartech, a global producer of plastic sheet, compounds, and packaging, in a deal valued at approximately $393 million. The transaction was officially completed on March 13, 2013.
"After nine months, we remain extremely pleased with the Spartech acquisition," said Stephen Newlin, chairman, president and CEO of PolyOne. "We continue to see upside opportunities to expand our portfolio of offerings and better serve our customers, and we remain committed to delivering $0.50 of EPS accretion from the deal in 2015."