30 October 2001 17:04 [Source: ICIS news]
HOUSTON (CNI)--PolyOne said Tuesday it intends to acquire Transcolor, a colour concentrates producer in Spain with 2000 revenues of about $30m (Euro33m), for an undisclosed sum.
The company said it expects to complete the transaction during first half 2002. PolyOne did not return telephone seeking additional information.
Transcolor, whose plant is located near Pamplona in northern Spain, produces colour concentrates with special emphasis on black and white products.
PolyOne said it expects the existing Transcolor management team to remain.
Bernard Baert, vice president/international operations for PolyOne, said the company has worked with Transcolor previously "and it had become obvious that there were commercial advantages to be gained by deepening our business relationship. We feel very positive about working with the excellent management and sales team at Transcolor."
PolyOne has already moved production of some products from its site near Paris, France to Transcolor.
Said Baert: "Strategically this will free capacity at our Saint-Ouen L'Aumone colour plant, allowing that plant to fully focus on the production of colour additive systems for our customers in the region."
The Saint-Ouen L'Aumone site is one of two PolyOne additive production centres in the country producing masterbatch colour and additive systems compatible with virtually all mainstream resins. The other is at Tossiat near Lyon.
Headquartered in Cleveland, Ohio PolyOne reported 2000 revenues of nearly $3bn.
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