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Exhibit 99.2
[M. A. HANNA COMPANY LOGO] NEWS RELEASE
M.A. Hanna Company
200 Public Square
Suite 36-5000
Cleveland, Ohio 44114-2304
phone 216.589.4000
fax 216.589.4200
FOR IMMEDIATE RELEASE
Investor and media contact: Christopher Farage (216) 589-4085
M.A. HANNA COMPLETES SALE OF SHAPES BUSINESS TO GE PLASTICS
CLEVELAND, July 31, 2000 - M.A. Hanna Company (NYSE: MAH: CHICAGO) today
announced the closing of the sale of a major component of its Cadillac Plastic
shapes distribution and fabrication business to GE Plastics.
The transaction, which was subject to government approvals, includes
substantially all assets and leased facilities of the Cadillac Plastic shapes
distribution operations in North America, Asia, the United Kingdom and the
Netherlands. Sale price was not disclosed when the transaction was announced
last May.
Cadillac Plastic fabricates and distributes plastic sheet, rod, tube and film -
a non-core business for M.A. Hanna, which is seeking to focus its resources on
its core businesses.
M.A. Hanna Company, headquartered in Cleveland, is a $2.3 billion international
specialty polymers company focused on the plastics and rubber industries through
its operations in North America, Europe and Asia. Its primary businesses are
plastic compounding and color and additive systems, rubber compounding and
additives, and distribution of plastic resins and engineered plastic shapes. On
May 8, 2000, M.A. Hanna and The Geon Company (NYSE: GON) announced an agreement
to consolidate, forming PolyOne(TM) Corporation, the world's largest polymer
services company. Additional information about M.A. Hanna can be found at
www.mahanna.com.
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