January 2, 2008 — /PRNewswire/ — CLEVELAND, OH — PolyOne Corporation (NYSE:POL), a leading global provider of specialized polymer materials, services and solutions, announced today it has completed its previously announced acquisition of GLS Corporation, the leading North American provider of specialty thermoplastic elastomer compounds (TPEs) for consumer and medical applications.
This acquisition complements PolyOne’s global Engineered Materials business portfolio and accelerates the company’s shift to specialization. The combination of GLS’s specialty TPE technology, compounding expertise and brand, along with PolyOne’s extensive global infrastructure and commercial presence offers customers enhanced technologies; a broader range of products, services, and solutions; and expanded access to specialized, high-growth markets around the globe.
The experienced GLS senior management team will remain and lead the global TPE business unit, retaining the GLS name and brand.
GLS was formerly a family-owned business headquartered in McHenry, IL. It has built a superb reputation as a strategic partner to many of the world’s best-known companies in developing and marketing highly customized soft TPEs. With approximately 200 employees, GLS has manufacturing facilities in Illinois and Suzhou, China. Annual sales are approximately $130 million.
PolyOne Corporation, with 2006 annual revenues of $2.6 billion, is a leading global provider of specialized polymer materials, services and solutions. Headquartered in northeast Ohio, PolyOne has operations in North America, South America, Europe, Asia, and Australia, and joint ventures in North America and South America.