PolyOne Corporation POL said that it expects to start local production of specialty engineered materials at its existing plant in Pune, India in Jan 2017. Initially, production at the facility will include specialty engineered polymer materials used in high performance applications. This is part of the company’s ongoing efforts to increase commitment to its customers in India.
The company opened a new facility in Pune in 2014 initially focused on making colorant and additives to cater to end-use markets such as transportation, electronics and electrical, healthcare, wire and cable, and packaging. Specialty engineered materials production capability is currently being installed at the plant with production trials starting in late 2016.
The new capability enhances the company’s ability to support its customers and increases their speed to market through PolyOne's vast portfolio of high-performance solutions and services. PolyOne noted that India is a region of growth for manufacturers and consumers and by increasing speed to market, it offers the company’s customers a competitive advantage.
PolyOne has also hired sales and technical resources based in India with expertise in specialty engineered materials to boost speed to market and collaborate with in-country customers.
PolyOne currently holds a Zacks Rank #4 (Sell).
Stocks to Consider
Some better-ranked companies in the chemical space include Univar Inc. UNVR, The Chemours Company CC and Cabot Corporation CBT.
Univar has an expected earnings growth of 244.4% for the current year. It sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chemours has an expected earnings growth of around 20.3% for the current year. The stock carries a Zacks Rank #1.
Cabot, currently holding a Zacks Rank #2 (Buy), has an expected earnings growth of roughly 12.1% for the current year.
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