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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) September 9, 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 Company announced a $19 million modernization and expansion of its
Henry, Illinois, specialty polyvinyl chloride (PVC) dispersion resin plant. The
capital investment will create a state-of-the art manufacturing line and expand
capacity by approximately 25 percent, enabling Geon to continue to meet growing
demand for its products.
Item 7(c). Financial Statements, Pro Forma Financial Information and Exhibits
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Exhibit 99.1 Press Release of September 9, 1998 announcing the modernization and
expansion of its Henry, Illinois plant.
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 September 14, 1998
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EXHIBIT 99.1
GEON TO INVEST $19 MILLION TO MODERNIZE ILLINOIS PLANT
Cleveland, Ohio -September 9, 1998 - The Geon Company (NYSE: GON) announced
today a $19 million modernization and expansion of its Henry, Illinois,
specialty polyvinyl chloride (PVC) dispersion resin plant. The capital
investment will create a state-of-the art manufacturing line and expand capacity
by approximately 25 percent, enabling Geon to continue to meet growing demand
for its products.
The modernization, which will begin later this year, will be completed in the
third quarter of 1999. Production at the plant will continue during the project.
Geon's upgrade of the Henry facility will ensure continued production of
consistent, high-quality products and will guarantee a reliable supply to a
broad range of customers.
"This investment in new technologies is further demonstration of our progress
toward building valued businesses that create improved earnings growth for
Geon," said Thomas A. Waltermire, Geon president and chief operating officer.
"This project testifies to the dedication the entire specialty dispersion resin
team has put forth, especially our people at Henry."
Geon's Henry plant employs 100 people and is an important source of specialty
dispersion resin for use in the top wear layer of vinyl flooring, as well as in
the decal and metal coating markets. Specialty dispersion resins have additional
applications in automotive products, fabric coatings and commercial carpet
backing. The Henry plant also produces blending and powder coating PVC resins.
The Geon Company is a leading North American-based polymer technology and
service company with operations in 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 more than 2,400 people and have 24
manufacturing plants in the United States, Canada, England and Australia, 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.
Information on the Company's products and services, as well as news releases,
EDGAR filings, Form 10-K, 10-Q, etc. are available on the Internet at
http://www.geon.com.
