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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.
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PolyOne Media & Investor Contact: Dennis Cocco
Chief Investor & Communications Officer
PolyOne Corporation
(440) 930-1538
