PolyOne to Host Investor Day; Provides Cash Flow Update
March 16 2009 - 5:00PM
PR Newswire (US)
--PolyOne to host an Investor Day during the 2009 National Plastics
Exposition (NPE) on June 25 CLEVELAND, March 16
/PRNewswire-FirstCall/ -- PolyOne Corporation (NYSE: POL) today
announced it will host an Investor Day on June 25, 2009 from 8:00
a.m. to 12:00 p.m. in Chicago during the 2009 National Plastics
Exposition (NPE). Held every three years, NPE is among the largest
trade shows for the plastics industry with approximately 70,000
attendees from around the globe in nearly one million square feet
of exhibit space. During the show, PolyOne will feature a number of
new technologies at its exhibit that highlight the Company's focus
on developing specialized innovative solutions to create unique
marketplace value. The goal of the exhibit is to help customers
learn how PolyOne can help them meet the challenges they face in
today's uncertain and highly competitive environment. Commenting on
the forum, PolyOne chairman, president and chief executive officer
Stephen D. Newlin stated, "Our decision to host an Investor Day in
Chicago concurrent with the NPE show provides investors and
analysts with an opportunity to be exposed to the broader plastics
industry, including the industry structure, trends and end-market
drivers." PolyOne's Investor Day will begin with a private pre-show
tour of the Company's NPE exhibit guided by PolyOne officers.
Following the tour, Newlin will provide an overview and update of
PolyOne's strategic initiatives, and operating division officers
will provide in-depth presentations of their respective operations.
Additionally, senior vice president and chief financial officer
Robert. M. Patterson will discuss PolyOne's financial performance,
liquidity, and profitability-enhancement initiatives. Commenting on
PolyOne's cash flow, Patterson stated, "Over the last two months,
we have made tremendous progress in reducing working capital, which
will allow us to report better than expected positive free cash
flow. As a result, we expect to have more than adequate cash flow
to fund our previously announced restructuring actions, as well as
our near-term debt maturities. We look forward to sharing this
success with our investors and analysts at the Investor Day."
PolyOne's debt and credit facilities have no financial covenants
other than a 1:1 fixed charge ratio that comes into effect only if
average quarterly borrowing availability falls below $40 million on
it accounts receivable securitization facility. Current borrowing
availability is well in excess of this level. Additional details
about PolyOne's Investor Day will be released in the coming weeks.
About PolyOne PolyOne Corporation, with annual revenues of more
than $2.7 billion, is a premier provider of specialized polymer
materials, services and solutions. Headquartered outside of
Cleveland, Ohio USA, PolyOne has operations around the world. For
additional information on PolyOne, visit our Web site at
http://www.polyone.com/. To access PolyOne's news library online,
please visit http://www.polyone.com/news Forward-looking Statements
In this press release, statements that are not reported financial
results or other historical information are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements give current
expectations or forecasts of future events and are not guarantees
of future performance. They are based on management's expectations
that involve a number of business risks and uncertainties, any of
which could cause actual results to differ materially from those
expressed in or implied by the forward-looking statements. They use
words such as "will," "anticipate," "estimate," "expect,"
"project," "intend," "plan," "believe," and other words and terms
of similar meaning in connection with any discussion of future
operating or financial performance and/or sales. Factors that could
cause actual results to differ materially from those implied by
these forward-looking statements include, but are not limited to:
disruptions, uncertainty or volatility in the credit markets that
could adversely impact the availability of credit already arranged
and the availability and cost of credit in the future; the
continued degradation in the North American residential
construction market; the financial condition of our customers,
including the ability of customers (especially those that may be
highly leveraged and those with inadequate liquidity) to maintain
their credit availability; the effect on foreign operations of
currency fluctuations, tariffs, and other political, economic and
regulatory risks; changes in polymer consumption growth rates in
the markets where PolyOne conducts business; changes in global
industry capacity or in the rate at which anticipated changes in
industry capacity come online; fluctuations in raw material prices,
quality and supply and in energy prices and supply; production
outages or material costs associated with scheduled or unscheduled
maintenance programs; unanticipated developments that could occur
with respect to contingencies such as litigation and environmental
matters; an inability to achieve or delays in achieving or
achievement of less than the anticipated financial benefit from
initiatives related to cost reductions and employee productivity
goals; an inability to raise or sustain prices for products or
services; an inability to maintain appropriate relations with
unions and employees; and other factors affecting our business
beyond our control, including, without limitation, changes in the
general economy, changes in interest rates and changes in the rate
of inflation. The above list of factors is not exhaustive. We
undertake no obligation to publicly update forward-looking
statements, whether as a result of new information, future events
or otherwise. You are advised to consult any further disclosures we
make on related subjects in our reports on Form 10-Q, 8-K and 10-K
that we provide to the Securities and Exchange Commission.
DATASOURCE: PolyOne CONTACT: Robert M. Patterson, Investor
Relations Contact, Senior Vice President & Chief Financial
Officer, +1 440-930-3302, or Amanda Marko, Media Contact, Director,
Corporate Communications, +1 440-930-3162, , both of PolyOne
Corporation Web Site: http://www.polyone.com/
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