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Polyone to close plants, cut jobs
Tuesday, July 29, 2008
Cleveland, OH -- PolyOne Corp. announced Monday that it is realigning certain of its manufacturing assets, primarily in North America. According to the company, this realignment is designed to enable the Company to improve the competitiveness of its operations and supply chain across many platforms and businesses, consistent with current and anticipated customer requirements. The impact of these actions will be to enhance the Company’s long-term performance, while helping to mitigate the effects of the current economic downturn and the increases in raw material and energy costs. Over the next nine months, the Company will close certain production facilities, including seven in North America, and one in the United Kingdom, resulting in a net reduction of approximately 150 positions. Production at the affected facilities, as well as several manufacturing lines, will be moved to a limited number of the Company’s more than 30 remaining plants.