CLEVELAND, April 24, 2018 /PRNewswire/ -- PolyOne Corporation (NYSE: POL) today announced that its materials portfolio and design expertise are shaping the future of advanced mobility for major OEMs. Together, these resources are supporting automotive technologies and systems spurred by trends such as ride sharing, advanced driver assistance systems (ADAS), sustainability, and electrification.
Explosive growth is a common denominator among these new technologies. For example, leading marketing intelligence firm BCC Research forecasts the ADAS market to reach $59.1B in size at a CAGR of 19.9% through 2021. In addition, Bloomberg New Energy Finance predicts that electric vehicles will account for 34% of new car sales by 2040. While corporate average fuel economy (CAFE) standards may evolve, a measure of sustainability also factors into automakers' goals for the future.
As leading manufacturers leverage these emerging automotive market trends, PolyOne serves their needs with in-depth design expertise paired with a forward-thinking portfolio of material solutions. Recent commercial projects include:
- ADAS: Protecting sensors and cameras from EMI/RFI interference with electrically conductive thermoplastics that reduce weight versus metal
- Lightweighting: Replacing metal with advanced composite laminates for reduced weight, better dent resistance, and lower warranty costs
- Interior air quality: Developing thermoplastic elastomers that meet Vehicle Interior Air Quality (VIAQ) standards for HVAC components
- Durability: Providing scratch and mar resistant additives for interior cabin trim components to increase long-term durability of fleet vehicles
- Reduced VOCs: Eliminating paint with a metallic colorant for vehicle exterior components to reduce cost and remove VOC emissions
"At every step of the mobility value chain, PolyOne is propelling innovation by contributing insights, expertise, and technologies," said Robert M. Patterson, chairman, president and CEO, PolyOne Corporation. "Our tailored materials portfolio and collaborative approach are enabling automotive customers to invent the future."
At its upcoming Investor Day on May 10, 2018, PolyOne plans to present additional details about transportation solutions as one of several high-growth focus areas that underpin the company's expectation of delivering double digit EPS growth in 2018 and beyond.
About PolyOne
PolyOne Corporation (NYSE:POL), with 2017 revenues of $3.2 billion, is a premier provider of specialized polymer materials, services and solutions. The company is dedicated to serving customers in diverse industries around the globe, by creating value through collaboration, innovation and an unwavering commitment to excellence. Guided by its Core Values, Sustainability Promise and No Surprises PledgeSM, PolyOne is an ACC Responsible Care® certified company committed to its customers, employees, communities and shareholders through ethical, sustainable and fiscally responsible principles. For more information, visit www.polyone.com.
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 condition, 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: our ability to identify and evaluate acquisition targets and consummate acquisitions; the ability to successfully integrate acquired businesses into our operations, such as IQAP Masterbatch, Mesa, Rutland, Comptek, SilCoTec, Gordon Composites and Polystrand, including whether such businesses will be accretive, retain the management teams of acquired businesses, and retain relationships with customers of acquired businesses; 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; our ability to achieve new business gains; the effect on foreign operations of currency fluctuations, tariffs and other political, economic and regulatory risks; changes in polymer consumption growth rates and laws and regulations regarding the disposal of plastic in jurisdictions where we conduct 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 working capital reductions, cost reductions and employee productivity goals; an inability to raise or sustain prices for products or services; our ability to continue to pay cash dividends, including at the increasing rate, which will be subject to, among other factors, market conditions, our cash flow and cash requirements and restrictions contained in any of our debt agreements; 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.
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SOURCE PolyOne Corporation
Investor Relations Contact: Eric R. Swanson, Director, Investor Relations, PolyOne Corporation, +1 440-930-1018, eric.swanson@avient.com; Media Contact: Kyle G. Rose, Vice President, Corporate Communications, PolyOne Corporation, +1 440-930-3162, kyle.rose@avient.com
