CLEVELAND, Jan. 26 /PRNewswire/ -- Noveon, Inc. today announced that it
has completed the divestiture of certain solvent-based polyurethane products
produced in Leominster, Mass., to Soluol, Inc. The acquired products will be
integrated into existing Soluol product lines.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010523/CLW011LOGO-b )
Kees Verhaar, Noveon's VP and General Manager, Performance Coatings,
commented "The divestiture of these solvent-based products is related to the
Company's recently announced multimillion dollar expansion of our water based
polyurethane coating products at Avon Lake, Ohio. Water based polyurethane
products are the fastest growing segment of the industry. Noveon chose to
divest the solvent-based products rather than relocate them, to focus on our
successful water-based polyurethane business."
Soluol and Noveon will work closely together during the next several
months to assure a smooth transition.
Noveon is a leading global producer and marketer of technologically
advanced specialty chemicals for a broad range of consumer and industrial
applications with revenues in 2002 of $1.1 billion. Noveon is headquartered
in Cleveland, Ohio, with regional centers in Brussels, Belgium, and Hong Kong.
This release contains forward-looking statements that relate to future
events or performance. These statements reflect the Company's current
expectations, and the Company does not undertake to update or revise these
forward-looking statements, even if experience or future changes make it clear
that any projected results express or implied in this or other Company
statements will not be realized. Furthermore, investors are cautioned that
these statements involve risks and uncertainties, many of which are beyond the
Company's control, which could cause actual results to differ materially from
the forward-looking statements. Further information about these risks can be
found in the Company's filings with the Securities and Exchange Commission.
Investors are cautioned not to place undue reliance on any forward-looking
statements contained herein, which speak only of the date hereof. The Company
undertakes no obligation to publicly release the results of any revisions to
these forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
SOURCE Noveon, Inc.
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Related links:
http://www.noveoninc.com
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Company News On-Call:
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CONTACT:
Investor Relations & Media, Sean Stack of
Noveon, Inc., +1-216-447-6494
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