Skip to main content
Sister Publication Links
  • Rubber & Plastics News
Subscribe
  • My Account
  • LogIn
  • News
  • Technology Focus
    • Features
    • Technical Papers
    • Analysis: Rubber mixing plants of the future
      Analysis: US probes dumping by ESBR suppliers
      Opinion: Tire labels stuck in a rut
      Analysis: NR pricing takes one step forward, two steps back
    • White paper: Role of tire innerliners in improving 'in-use rolling resistance'
      White paper: Why tire air retention matters now more than ever
      Nippon Soda: Use of 1,2-polybutadiene in CSM rubber applications
      Elastomers for Sustainability Top 10
  • Events
    • ERJ Events
    • ERJ Livestreams & Webinars
    • Industry Events
    • Journey to Automation Awards 2020
      Sustainability: Top 10 E4S projects table
  • Maps & Reports
  • People
  • Directory
  • Digital Edition
  • Brainiac
MENU
Breadcrumb
  1. Home
  2. News
January 23, 2004 12:00 AM

PolyOne to take pre-tax charge on divestment plans

ERJ Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    From Rubber & Plastics News

    Cleveland, Ohio-PolyOne Corp. will take a pre-tax charge of $130 million against fourth-quarter earnings to cover the “estimated impairment” of assets earmarked for divestiture, including the Elastomers and Performance Additives businesses.

    PolyOne has designated the operations for sale-Elastomers/Performance Additives, Specialty Resins and Engineered Films-as discontinued operations in its fourth quarter and fiscal 2003 accounts, the firm said recently.

    These non-core units employ 2270 and have annual sales of about $600 million. PolyOne said it would use the proceeds from the sale of these units to reduce debt.

    The firm did not comment on progress toward finding buyers for the units, but said it is “confident” the proceeds will be at the level anticipated in October when the spin-off plans were disclosed.

    RECOMMENDED FOR YOU
    Sentury announces ‘833plus’ global expansion 
    Sentury announces ‘833plus’ global expansion 
    Nokian expects to pay more for raw materials, logistics
    Nokian expects to pay more for raw materials, logistics
    Commercial Vehicle Show is back on 
    Commercial Vehicle Show is back on 
    Free Newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Get the latest news impacting the European rubber industry, from breaking news to razor-sharp analysis, in print and online.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter
    • Youtube

    Logo
    Contact Us

    @ 2019 European Rubber Journal. 
    European Rubber Journal is published bi-monthly by NUERJ Ltd.

    Registered Office: Castle House, 89 High Street,
    Berkhamsted, Hertfordshire HP4 2DF, United Kingdom. 

    Tel. + 44 (0)203 196 0141 

    Registered No. 13104613 England

    Email: [email protected]

    Website www.european-rubber-journal.com

    Customer service 

    Tel. + 44 (0)203 196 0141 

     

    Resources
    • About us
    • Contact Us
    • Advertise with Us
    • Media Kit
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
    • Technology Focus
      • Features
      • Technical Papers
    • Events
      • ERJ Events
      • ERJ Livestreams & Webinars
      • Industry Events
    • Maps & Reports
    • People
    • Directory
    • Digital Edition
    • Brainiac