GEON CO
8-K, 1997-08-05
PLASTIC MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS
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                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                 ---------------



                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the

                         Securities Exchange Act of 1934

         Date of Report (Date of earliest event reported) July 31, 1997
                                                         --------------

                                THE GEON COMPANY
               --------------------------------------------------
               (Exact name of registrant as specified in charter)

   Delaware                      1-11804                       34-1730488
- --------------------------------------------------------------------------------
(State or other                 (Commission                  (IRS Employer
jurisdiction of                 File Number)                Identification No.)
incorporation)


               One Geon Center, Avon Lake, Ohio               44012
               ----------------------------------------------------
            (Address of principal executive offices)        (Zip Code)

      Registrant's telephone number, including area code     216-930-1241
                                                        -----------------

                                 Not Applicable
         --------------------------------------------------------------
         (Former name or former address, if changed since last report.)


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Item 5.  Other Events
- ------   ------------

The Geon Company announced that it has finalized the joint venture between its
Australian polyvinyl chloride operations and the PVC operations of ICI Australia
Limited. The joint venture will be known as Australian Vinyls Corporation
Limited.

Item 7(c).  Financial Statements, Pro Forma Financial Information and Exhibits
- ----------  ------------------------------------------------------------------

Exhibit 99.1 Press Release of July 31, 1997 announcing the Geon, ICI complete
Australian PVC joint venture known as Australian Vinyls Corporation Limited.

                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                           THE GEON COMPANY

                                           By \S\GREGORY L. RUTMAN
                                             --------------------------
                                                   Gregory L. Rutman
                                                    Secretary

Dated August 5, 1997



<PAGE>   1



                                  EXHIBIT 99.1

                 GEON, ICI COMPLETE AUSTRALIAN PVC JOINT VENTURE
                 -----------------------------------------------

CLEVELAND, OHIO - JULY 31, 1997 - The Geon Company (NYSE: GON) announced that
effective today it has finalized the joint venture between its Australian
polyvinyl chloride (PVC) operations and the PVC operations of ICI Australia
Limited. All government and regulatory approvals have been received for the
joint venture, which will be known as Australian Vinyls Corporation Limited.

The Geon Company is one of the largest suppliers of PVC resins in North America
and is the world's largest merchant provider of PVC compounds. Headquartered in
Avon Lake, Ohio, The Geon Company and its subsidiaries have 11 manufacturing
plants in the United States and Canada, and joint ventures in Australia, Europe
and Southeast Asia.

                                      *****

                              Contact: Dennis Cocco
                    Director of Corporate & Investor Affairs
                                  216-930-1528


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