PolyOne Corporation (NYSE:POL) and Archer Daniels Midland Company
(NYSE:ADM) today announced an agreement to collaborate on the
development of bio-based plasticizers.
Plasticizers are used primarily to make plastics softer and more
flexible. The global plasticizer market is an $11-billion industry and
is comprised mostly of petroleum-based products. The goal of this
alliance is to develop and commercialize bio-based plasticizers from
corn and oilseeds.
“There is clear market interest in renewable technology as an
alternative to traditional petroleum-based plasticizer offerings,” said
Dr. Cecil Chappelow, vice president, innovation, sustainability, and
chief innovation officer, PolyOne Corporation. “We are confident that
PolyOne’s compounding expertise and global market reach, coupled with
ADM’s deep knowledge of agricultural-based chemistries and manufacturing
techniques, will lead to a new generation of plasticizers and compounds
for our customers and for the global polymer industry.”
Paul Bloom, director, Chemical Technology Strategy, ADM said, “This
collaboration is an example of how ADM is working in concert with expert
partners to identify opportunities to expand our product portfolio. When
we find and commercialize new products from existing feedstock streams,
we increase the value of our portfolio overall.”
About PolyOne Corporation
PolyOne Corporation, with annual revenues of more than $2.7 billion, is
a premier global provider of specialized polymer materials, services and
solutions. Headquartered outside of Cleveland, Ohio USA, PolyOne has
operations around the globe. For additional information on PolyOne,
visit our new Web site at www.polyone.com.
About ADM
Every day, the 27,000 people of Archer Daniels Midland Company (NYSE:
ADM) turn crops into renewable products that meet the demands of a
growing world. At more than 240 processing plants, we convert corn,
oilseeds, wheat and cocoa into products for food, animal feed, chemical
and energy uses. We operate the world’s premier crop origination and
transportation network, connecting crops and markets in more than 60
countries. Our global headquarters is in Decatur, Illinois, and our net
sales for the fiscal year ended June 30, 2008, were $70 billion. For
more information about our Company and our products, visit http://www.adm.com.
PolyOne Contact:
David C. Honeycutt
Director, Marketing Communications
(440) 930-3154
david.honeycutt@polyone.com
ADM Contact:
Beth Ragan
Corporate Communications
(217) 424-5413
media@adm.com