PolyOne Corporation (NYSE: POL) today announced that it will open a new polymer distribution warehouse and sales facility on July 1 in Shanghai, China. This marks the first entry point for PolyOne Distribution into Asia.
"PolyOne Distribution is the market leader in less than truckload thermoplastics distribution in North America, and we have a backlog of customer requests to expand our distribution services globally," said Stephen D. Newlin, chairman, president and chief executive officer. "With our most recent investment in Asia, PolyOne Distribution is accelerating the globalization and customer service offerings of this very important platform."
PolyOne has emerged as a leading supplier of polymer materials, services and solutions in the healthcare industry and is recognized for its expertise in serving this market. Since 2006, our healthcare sales have expanded 95% and now represent over $250 million in annualized sales. PolyOne Distribution has led the Company's healthcare expansion and offers the broadest certified healthcare portfolio in the industry.
Leveraging the Company's technical expertise in providing this market with unbiased and optimized solutions, the initial focus of PolyOne's investment in Asia will be servicing healthcare customers. However, the Company plans to broaden its Asia distribution service to customers in other industries over the next year.
"This new facility will immediately provide value to healthcare device manufacturers and processors in Asia," said Michael L. Rademacher, president, PolyOne Distribution. "Asia is a significant market for our global healthcare customers, and they will receive the same superior levels of customer service and selection from our industry-leading network of partners and suppliers that we maintain in the Americas."