Printer Friendly

M. A. HANNA ANNOUNCES MEXICO EXPANSION WITH ACQUISITION OF PLASTICOS POLISOL

 CLEVELAND, May 12 /PRNewswire/ -- M. A. Hanna Company (NYSE/MSE:MAH), a $1.3 billion international specialty chemicals company, today announced that it has reached a tentative agreement to acquire the thermoplastic resin distribution business of Plasticos Polisol S.A. de C.V., Mexico City. Terms of the agreement were not disclosed.
 The acquisition is part of Hanna's plan to establish a polymer processing and distribution capability in Mexico, said Garth W. Henry, Hanna's vice president of operations. "Polisol will be acquired by a new company called Hanna de Mexico, which will be part of Hanna's international resin distribution network," Henry said.
 Polisol executives Abraham Shabot, administrative manager; Eduardo Alvarez, marketing manager; and Jose Antonio de Leon, sales manager; will join Hanna de Mexico as the senior management team, Henry said. "They are strong and energetic managers, and we're delighted they will be part of the Hanna organization."
 Hanna de Mexico will be the exclusive sales and marketing entity for thermoplastic compounds and color and additive concentrates manufactured by Hanna. It will have distribution outlets in Mexico City, Guadalajara and Monterrey.
 The product portfolio also will include a range of engineering resins, including acrylonitrile-butadiene-styrene (ABS), styrene- acrylonitrile (SAN) and polycarbonate.
 Henry said that Hanna has plans to build a polymer processing plant in Mexico this year, for which Hanna de Mexico will provide sales and marketing services.
 "We have three reasons for committing to a strong, long-term position in Mexico," Henry said. "First, the overall economy in Mexico and the specific markets we serve are growing rapidly. Second, we have proven capabilities and a broad portfolio of products and services to offer to the Mexican plastics industry. And third, we can bring benefits to our strategic suppliers by opening new markets for them."
 Hanna has 30 resin distribution centers in the United States operated by Bruck Plastics Co.; Fiberchem, Inc.; and Plastic Distributing Corporation.
 M. A. Hanna is a leading international specialty chemicals company focused on the plastics and rubber industry. Primary businesses of M. A. Hanna are plastics and rubber compounding, color and additive concentrates for plastics, distribution of resins and engineered plastic shapes, and manufactured polymer products.
 -0- 5/12/93
 /CONTACT: Andy Opila (media), 216-589-4018, or Barb Gould (investor), 216-589-4085, both of M. A. Hanna; or Abraham Shabot of Plasticos Polisol, 525-709-12-70/
 (MAH)


CO: M. A. Hanna Company; Plasticos Polisol S.A. de C.V. ST: Ohio IN: CHM SU: TNM

LC -- CL021 -- 7734 05/12/93 16:20 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 12, 1993
Words:413
Previous Article:SHANGHAI AIRLINES CHOOSES BOEING 767s FOR EXPANSION
Next Article:TWO KATRON HUB CHOICES OFFER VALUE AT HIGH AND LOW PRICE POINTS
Topics:


Related Articles
HANNA ANNOUNCES QUARTERLY DIVIDEND
HANNA COMPLETES ACQUISITION OF LEADING EUROPEAN COLORANTS COMPANY
HANNA COMPLETES PLANS TO EXPAND RESIN DISTRIBUTION NETWORK WITH ACQUISITION OF PDC
HANNA INCREASES QUARTERLY DIVIDEND 8 PERCENT
FOUNTAIN RESIGNS AS HANNA CFO
HANNA REPORTS 75 PERCENT EARNINGS INCREASE ON 25 PERCENT SALES GAIN
M.A. HANNA FILED WITH SEC TO SELL DEBT SECURITIES
M.A. Hanna Acquires Chase Elastomer, A U.S.-Based Specialty Mix Rubber Producer
M.A. Hanna Acquires Chase Elastomer, a U.S.-Based Specialty Mix Rubber Producer

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters