wiredinUSA November 2011

New Middle East joint venture

PolyOne Corporation has formed an agreement with EA Juffali & Brothers Company Limited to form a joint venture that will enable PolyOne to ex- pand its color, additives and inks business into the Middle East. The new joint venture will be 51 percent owned by PolyOne and is to be based in Jeddah, Saudi Arabia. “I am pleased to

D Newlin, chairman, president and chief executive officer of PolyOne. “Juffali brings local expertise and years of running successful businesses in the region, while 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 color 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 nine to twelve months with local production forecast for late 2012. The agreement follows PolyOne’s announcement that it will acquire ColorMatrix Group, a global producer of additives, liquid colorants and fluoropolymers.

announce our new agreement, which strengthens our

relationship with a key business partner to drive profitable growth in the Middle East,” said Stephen

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wiredInUSA - November 2011