PolyOne Acquires Specialty Business in Brazil for $21M

PolyOne Corporation POL has acquired Uniplen Industria de Polimeros Ltda. (Uniplen), a leading Brazilian producer of specialty engineered materials and distributor of thermoplastics. The Uniplen transaction was completed for an upfront cash purchase price of $21 million with a potential for further consideration payable over the next three years based on achieving certain performance metrics. Uniplen recorded revenues of approximately $34 million in 2010.