US PolyOne boasts record Q4, targets more gains in 2013

29 January 2013 23:43  [Source: ICIS news]

HOUSTON (ICIS)--PolyOne had a record fourth quarter for 2012, increasing revenues by 6% year over year, the US polymer company announced on Tuesday.

Revenues for the fourth quarter totalled $679.4m (€502.8m), up from $640.4m for the same time in 2011.

Full-year revenues for 2012 jumped 4.5% to $3.0bn, up from $2.9bn in 2011.

“The fourth quarter caps another strong year of performance by PolyOne,” said Stephen D. Newlin, PolyOne’s chairman, president and CEO. “For the full year, each of our three strategic platforms achieved record levels of operating income and operating margins, despite recessionary conditions in Europe.”

Regarding the company’s outlook for this year, Newlin said, “In 2013, we are targeting double-digit expansion of adjusted earnings per share. We do not view recovery in Europe as imminent; however, we do see potential for some improvement in the second half of the year.”

PolyOne, which is headquartered in Avon Lake, Ohio, makes specialized polymer materials. It has operations in North America, South America, Europe, Asia and Africa.

($1 = €0.74)

By: Jeremy Pafford
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index