PolyOne Reaches Second Milestone in Conversion to a Worldwide Business Information System
July 11, 2001
CLEVELAND, July 11 /PRNewswire/ -- PolyOne Corporation (NYSE: POL)
announced today that it has completed, as planned, the second phase of a
landmark conversion to a single business information system. When completed
in 2002, the unified system will serve nearly all of PolyOne's business units
worldwide, replacing more than 15 non-integrated systems and enhancing the
Company's status as a leader in the polymer services industry.
The second-phase conversion focused on PolyOne's North American engineered
materials operations, which represent approximately $265 million in annual
revenues. Five manufacturing sites, a technical center and more than
250 newly trained PolyOne users were brought online. In addition, data for
more than 2,500 customers were transferred to the new system, which is now
accepting new customer orders, and has replicated existing orders, finished
goods inventories and production schedules.
"This powerful new tool will link talents and technologies across PolyOne,
resulting in better services and solutions to help our customers develop their
polymer products," said Thomas A. Waltermire, chairman and chief executive
"Now more than ever, our customers will gain advantages from working with
the world's largest polymer services company - a company that will be able to
align all its resources for the benefit of any customer anywhere," Waltermire
added. "In this arena, PolyOne will have an unbeatable edge."
With the May 1 launch of the first phase of the conversion, PolyOne moved
its vinyl compound and specialty resin products and operations to the upgraded
information technology software system. With the completion of both phases,
PolyOne has converted businesses with annual revenues approximating $1.5
billion, and has brought more than 1,700 users online within the Company.
Nearly all of PolyOne's remaining businesses will come online in carefully
managed phases in coming months. The next phase will involve PolyOne's
colorant products and operations. The Company expects to convert its European
operations by year-end and its elastomers and performance additives group by
PolyOne is investing $25 million in 2001 to upgrade its information and
business process systems. With this investment, the Company will have the
capability to extend the benefits of business-to-business (B2B) e-commerce to
PolyOne customers and suppliers.
As an example, this latest move to a unified information system has led to
the addition of 3,400 PolyOne products to the Company's multiple e-business
Web sites. Customers can now order from a greatly expanded product offering,
and both customers and suppliers can improve the direct electronic links
between their own business systems and PolyOne.
On June 21, PolyOne announced that within its engineered materials
business, it will invest in four plants to create Centers of Manufacturing
Excellence, and will close three other plants. The information system upgrade
includes the sites that will close.
"The closing of these plants will take many months as we transition our
customers, one at a time, to our Centers of Manufacturing Excellence,"
Waltermire explained. "The conversion to a new information system at these
plants will help to ensure that these transitions go smoothly."
PolyOne Corporation, with revenues in excess of $3 billion, is an
international polymer services company with operations in thermoplastic
compounds, specialty resins, specialty polymer formulations, engineered films,
color and additive systems, elastomer compounding and thermoplastic resin
distribution. Headquartered in Cleveland, Ohio, PolyOne has more than 9,000
employees at 80 manufacturing sites in North America, Europe, Asia and
Australia, and joint ventures in North America, South America, Europe, Asia
and Australia. Information on the Company's products and services can be
found at www.polyone.com .
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SOURCE PolyOne Corporation
CONTACT: Dennis Cocco, Chief Investor & Communications Officer of
PolyOne Corporation, 216-589-4018/