CLEVELAND, May 23 /PRNewswire/ -- PMD Group Inc. -- formerly BFGoodrich
Performance Materials segment -- announced today that its new name will be
Noveon, Inc.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010523/CLW011-a
http://www.newscom.com/cgi-bin/prnh/20010523/CLW011LOGO-b )
"The name we have selected for our company -- Noveon -- describes the
promise of a new era, as we strengthen our commitment to be the specialty
chemicals innovator," Steven J. Demetriou, Noveon president and chief
executive officer, said. "Noveon merges the concepts of innovation and the
beginning of a new era for our company. We are a new company with a bright
future."
Noveon is a leading global producer and marketer of technologically
advanced specialty chemicals for a broad range of consumer and industrial
applications. For the year ended December 31, 2000, Noveon generated pro
forma sales of approximately $1.2 billion. The company was formed as an
independent entity on February 28, 2001 when an investor group comprised of
AEA Investors Inc., an affiliate of DLJ Merchant Banking Partners and DB
Capital Partners, Inc., acquired the Performance Materials business from
BFGoodrich.
"While our company has taken on a new name, our strengths will continue to
reflect the skills and diversity of Noveon employees throughout the world. As
we begin our new era, we are more focused on serving our customers and
creating value for our investors," Demetriou said.
The company's headquarters will remain in Cleveland, Ohio. Regional
centers will remain in Brussels, Belgium, and Hong Kong. About 3,200 Noveon
employees work at 42 facilities worldwide.
SOURCE BF Goodrich Performance Materials
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Related links:
http://www.bfgoodrich.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20010523/CLW011-a
http://www.newscom.com/cgi-bin/prnh/20010523/CLW011LOGO-b
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840
CONTACT:
Joel Ross of Noveon, Inc., 216-447-5732
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