PolyOne partners with ME company

PolyOne Corporation entered into an agreement with E.A. Juffali & Brothers Company Limited to form a joint venture that will enable PolyOne to expand its Global Colour, Additives and Inks business into the Middle East. The new joint venture will be 51% owned by PolyOne and will be based in Jeddah, Saudi Arabia.

"I am pleased to announce our new agreement, which strengthens our relationship with a key business partner to drive profitable growth in the Middle East," said Mr. Stephen D. Newlin, chairman, president and chief executive officer of PolyOne. "Juffali brings local expertise and years of running successful businesses in the region, whilst PolyOne is providing the formulating technology and material science to market new, innovative solutions." The joint venture will be investing in a new manufacturing facility focused on the production of specialty colour concentrates with the potential for expansion into other product lines in future phases. The initial investment is expected to be approximately $14 million and will take place over the next 9 to 12 months with local production forecasted to come on-line in late 2012.

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