PolyOne Corporation (NYSE: POL), a leading global provider of specialized polymer materials, services and solutions, has reorganized its Polymer Coating Systems (PCS) into two business units.
The Wilflex inks and specialty colorants businesses and the BayOne equity investment will be combined into a new operating segment named Specialty Inks and Polymer Systems. Scott Craig, who recently joined PolyOne from Cookson Electronics' Semiconductor Packaging Materials business, will be the general manager of this new operating segment.
The remaining PCS businesses, plastisols and coated fabrics, will be integrated with the Vinyl Business segment and combined with the Specialty Resins business to form Specialty Resins and Coatings. Dan Kickel, who had served as vice president and general manager of PCS, will become vice president and general manager of this new business unit.
This realignment gives us the ability to better serve our customers, said Stephen D. Newlin, chairman, president and chief executive officer. We will more effectively and efficiently focus our resources with the needs of our customers and the marketplace.
The number of PolyOne's reportable segments remains at four: Vinyl Business, International Color and Engineered Materials, PolyOne Distribution, and Resin and Intermediates. All Other will now include North American Engineered Materials, North American Color and Additives, Producer Services, and Specialty Inks and Polymer Systems. Historical segment data will be recast for this reorganization in PolyOne's 10K filing for the fiscal year ending December 31, 2007.
