Home / Knowledge / News / Textiles / PolyOne completes acquisition of Spartech Corp
PolyOne completes acquisition of Spartech Corp
13
Mar '13
PolyOne Corporation a premier provider of specialized polymer materials, services, and solutions, announced that Spartech shareholders have approved the merger agreement pursuant to which PolyOne will acquire Spartech Corporation, a leading producer of custom plastic sheet and rollstock and packaging solutions.  PolyOne announced the agreement to acquire Spartech Corporation on October 24, 2012.  The transaction will be officially completed on March 13, 2013.

“We are thrilled to be moving forward with this acquisition, and we welcome the Spartech associates to the PolyOne team,” said Stephen D. Newlin, chairman, president and chief executive officer, PolyOne Corporation.  “This acquisition further strengthens our Specialty Platform by enabling us to better serve customers with adjacent technologies in attractive end markets.”

“This business looks very much like PolyOne did in the early years of our transformation.  We have the playbook and in-house expertise to accelerate Spartech’s transformation from a volume-oriented company to one that focuses on specialty solutions and true value creation for customers,” added Mr. Newlin.  “We are committed to the successful integration of Spartech, and look forward to delivering the projected annual synergies of $65 million by the end of the third year post-acquisition.”

With the acquisition of Spartech, PolyOne will make changes to its segment structure.  PolyOne’s Specialty Platform will now have three reportable segments: Global Color, Additives and Inks, Global Specialty Engineered Materials, and a newly formed segment named Designed Structures and Solutions (DSS). 

DSS will be comprised of Spartech’s former Custom Sheet and Rollstock and Packaging Technologies businesses.  Spartech’s Color & Specialty Compounds business will be integrated into PolyOne’s Global Color, Additives & Inks, Global Specialty Engineered Materials, and Performance Products & Solutions segments.  Use of the Spartech name will discontinue.

PolyOne also announced that it has appointed Julie A. McAlindon as senior vice president, president of Designed Structures and Solutions, reporting to Robert M. Patterson, executive vice president and chief operating officer. 

Ms. McAlindon joined PolyOne in June 2010 as vice president, marketing after a distinguished career with The Dow Chemical Company.  Ms. McAlindon has been an integral part of the specialty transformational journey at PolyOne, leading the marketing function through process improvements in innovation, commercialization of market-driven applications and identification and analysis of megatrends that drive strategic planning.

“I am extremely pleased that Julie will be leading this important business segment within PolyOne, and that it will continue to be based in the St. Louis area.  She has the drive, experience, technical skills and leadership qualities needed to fully maximize the value we expect from this new business,” Mr. Patterson said.

In addition, Vicki Holt, president and CEO of Spartech Corporation, has announced she will be leaving the company, following a 30-day transition period to help launch the commencement of integration efforts.  “I’d like to thank Vicki for her insights, leadership and professionalism throughout this process, and I wish her the very best in the next chapter of her career,” Mr. Newlin said.

PolyOne

Must ReadView All

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Textiles | On 20th Jan 2017

Xeros to focus on textile sector to develop technology

Xeros technology group plc, the developer and provider of patented...

Apparel/Garments | On 20th Jan 2017

Nine West acquiring womenswear marketer Kasper Group

US based footwear, accessories and denim company Nine West Holdings...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search