PolyOne Corporation(N YSE: POL), a premier provider of specialized polymer materials, services and solutions, announced today that it has formed PolyOne Polymers India Pvt. Ltd. to import, manufacture and sell PolyOne products in India and neighboring markets.
The Company's new production and lab facility, which will be located in Mumbai, India, provides strategic regional access to many large OEMs and polymer processors. Construction at the facility is expected to begin later this year, and color masterbatch production lines and a color lab are scheduled to commence operations in 2009. The facility will also include administrative offices for PolyOne Polymers India, which is led by Tushar Parida, managing director.
"This new manufacturing facility and color lab will help ensure responsiveness to customer needs by providing locally available materials and rapid turnarounds," Parida said. "PolyOne's initial focus in India will be on producing colorants and providing technical support. Once that foundation is established, we will work with India's key OEMs to gain specification for PolyOne's full bundle of materials and services, which include color and additives; specialty engineered materials; thermoplastic elastomers (TPEs); low smoke and fume, zero halogen compounds (LSFOH); and other specialized products."
"Expanding our presence in India is an important milestone in the implementation of the globalization and specialization components of PolyOne's strategy," said Willie Chien, vice president and general manager, PolyOne Asia.