Product category:
Materials and components
News Release from: Polyone Corp
Edited by the Engineeringtalk Editorial
Team on 01 January 2003
Polyone to sell stake in joint venture
Polyone is to sell to TPM Holdings its majority interest in the joint venture company Techmer PM.
Polyone is to sell to TPM Holdings its majority interest in the joint venture company Techmer PM Under the agreement - which concludes an arbitration filed by TPM Holdings - PolyOne will sell its 51% position no later than 31st January 2003
This article was originally published on Engineeringtalk on 6 Aug 2001 at 8.00am (UK)
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Specific terms of the agreement and the purchase price were not disclosed.
TPM Holdings, which owns the remaining 49% of Techmer PM, is headed by John R Manuck, who will continue as Manager and President.
Techmer PM has production facilities in California, Tennessee, Georgia and Kansas, where it produces high-quality colour and additive concentrates.
Its proprietary dispersions are particularly well suited to the fibre and value-added films markets.
PolyOne and Techmer PM stressed that no customer disruptions will result from PolyOne's divestiture.
Both companies will continue to serve their respective customers.
Their relationship dates to 1997 when TPM Holdings (then known as Techmer PM) and MA Hanna Company, which is now part of PolyOne, formed Techmer PM as a joint venture limited-liability company.
PolyOne reported financial results from Techmer PM within its plastic compounds and colours segment.
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