Exiting the vinyls game
6 Jun 2003
The PolyOne Corporation's European vinyl compounding business has been purchased by Hydro Polymers.
The high-flow vinyl compounding business was originally formed as a joint venture between PolyOne and Hydro Polymers in 1991.
In 2000, PolyOne purchased Hydro Polymers' 50% share to assume total ownership. However, Hydro Polymers retained a long-term manufacturing and service agreement and continued producing the compounds for PolyOne at Hydro Polymers' Aycliffe site.
Now, after a reassessment of its operations in Europe, PolyOne has decided to leave the market and sell the full business interests, customer lists and technology to Hydro Polymers.
Paul Wheatley, compound business director, said that although the the vinyls business was complementary to its existing compounding operation, due to its 'special nature', it would operate as a separate entity known as Vinakon.'
Sales of the company's vinyl compound were £3 million (about 4.5 million Euros) in 2002.
