PolyOne (PolyOne) announced that it has completed the sale of its Performance Products and Solutions (PP & S) business, which was eventually transferred to SK Capital at a price of US $ 775 million.
The transaction was conducted in cash and PolyOne received a total of $ 600 million in pre-tax income.
"We are very pleased to be able to complete the divestiture of the high-performance products and solutions business." Said Robert M. Patterson, President and CEO of PolyOne. Play an important role in our transformation and value creation. "
Patterson added: "Looking forward, we believe that SK Capital will further add value to customers and stakeholders. We will also benefit from it, because the high-performance products and solutions business will continue to be applied to PolyOne ’s supply sector products and become An important partner of our distribution business. "
PolyOne stated that the proceeds from this transaction will be used to strengthen the company's balance sheet and provide funding for future growth plans, including investments in sustainable solutions and professional acquisitions.