SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Date of Report (Date of earliest event reported) September 7, 2000
POLYONE CORPORATION
| Ohio | 1-16091 | 34-1730488 | ||
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(State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
| Suite 36-5000, 200 Public Square, Cleveland, Ohio | 44114-2304 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code 216-589-4000
Not Applicable
Item 5. Other Events
On September 7, 2000, PolyOne Corporation (NYSE: POL) announced the closing of the sale of its Richmond Aircraft Products unit to UMECO plc, Europe’s leading provider of value-added distribution services to the aerospace and defense industries.
The transaction includes substantially all the assets of Richmond Aircraft, which has one facility in the Los Angeles area. The unit distributes films, bagging materials and structural foam materials that are used principally in the manufacture of parts for the aerospace industry.
Item 7(c). Financial Statements, Pro Forma Financial Information and Exhibits
Exhibit 99.1 Press Release issued by PolyOne Corporation announcing the completion of the sale.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| POLYONE CORPORATION |
| By | /s/ Gregory L. Rutman |
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| Chief Legal Officer and Secretary |
Dated September 11, 2000
1 EXHIBIT 99.1 POLYONE COMPLETES SALE OF RICHMOND AIRCRAFT TO EUROPEAN AEROSPACE DISTRIBUTOR Cleveland, Ohio - September 7, 2000 - PolyOne Corporation (NYSE: POL) today announced the closing of the sale of its Richmond Aircraft Products unit to UMECO plc, Europe's leading provider of value-added distribution services to the aerospace and defense industries. The transaction includes substantially all the assets of Richmond Aircraft, which has one facility in the Los Angeles area. The unit distributes films, bagging materials and structural foam materials that are used principally in the manufacture of parts for the aerospace industry. The sale was announced in July by the United Kingdom-based UMECO plc and M.A. Hanna Company, which owned Richmond Aircraft as part of its non-core Cadillac Plastic shapes distribution and fabrication businesses. On September 1, 2000, M.A. Hanna and The Geon Company consolidated as PolyOne Corporation. Prior to the consolidation, M.A. Hanna divested the major portion of Cadillac Plastic and signed definitive agreements to sell Richmond Aircraft and the final Cadillac Plastic component, consisting of a 50 percent interest in three Western European joint ventures. That sale, to Thyssen Krupp Materials & Services AG of Dusseldorf, Germany, is pending. PolyOne Corporation (NYSE: POL) is a $3.5 billion international polymer services company with customer-focused operations in thermoplastic compounds, specialty resins, specialty polymer formulations, engineered films, color and additive systems, rubber compounding and thermoplastic resin distribution. Headquartered in Cleveland, Ohio, PolyOne has more than 10,000 employees at 80 manufacturing sites in North America, Europe, Asia and Australia, and joint ventures in North America, South America, Europe, Asia and Australia. Information on the Company's products and services can be found at www.polyone.com. ***** PolyOne Media & Investor Contact: Dennis Cocco Chief Investor & Communications Officer PolyOne Corporation (440) 930-1538