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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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) June 1, 1998
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THE GEON COMPANY
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(Exact name of registrant as specified in charter)
Delaware 1-11804 34-1730488
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
One Geon Center, Avon Lake, Ohio 44012
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 440-930-1001
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Not Applicable
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(Former name or former address, if changed since last report.)
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Item 5. Other Events
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The Geon Company today announced that it has completed the acquisition
of Plast-O-Meric, Inc., a privately held custom formulator of vinyl plastisols
and polyurethane systems. Plast-O-Meric is based in Sussex, Wisconsin and
employs approximately 225 people. Sales in 1997 were $73 million.
Item 7(c). Financial Statements, Pro Forma Financial Information and Exhibits
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Exhibit 99.1 Press Release of June 1, 1998 announcing the acquisition of
Plast-O-Meric, Inc.
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
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Secretary
Dated June 2, 1998
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NEWS RELEASE
GEON COMPLETES PLAST-O-MERIC ACQUISITION
CLEVELAND, OHIO - June 1, 1998 - The Geon Company (NYSE: GON) today announced
that it has completed the acquisition of Plast-O-Meric, Inc., a privately held
custom formulator of vinyl plastisols and polyurethane systems.
Vinyl plastisols are highly plasticized compounds used primarily in applications
such as wall coverings and metal and fabric coatings. Plast-O-Meric also
manufactures automotive molding powders, vinyl screen printing inks and vinyl
coating powders.
Plast-O-Meric, based in Sussex, Wisconsin has four United States manufacturing
sites and approximately 225 employees. Sales in 1997 were $73 million.
Plast-O-Meric, which will operate as a separate unit within Geon, is expected to
be immediately accretive to earnings within a range of $0.05 to $0.10 per share
annually, after goodwill and before synergies.
The Geon Company is a leading North American-based polymer service and
technology company with operations in polyvinyl chloride (PVC) compounds and
other value-added products and services, as well as in PVC resins. Headquartered
in Avon Lake, Ohio, The Geon Company and its subsidiaries employ 2,300 people
and have 21 manufacturing plants in the United States and Canada, and joint
ventures in the United States, Europe, Australia and Southeast Asia. Geon
recorded revenues of $1.25 billion for the year ended December 31, 1997.
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Media and Investor Contact: Dennis Cocco,
Vice President, Corporate & Investor Affairs
(440) 930-1538
