OMNOVA Solutions Inc. announced the sale of production assets at its leased Dupo, Illinois narrow gauge film extrusion facility to Wiman Corp., part of RTP Company’s Sheet & Film Division.
“The sale of these non-strategic assets provides greater
focus to our core Decorative Products business and will reduce OMNOVA
Solutions' fixed costs,” said Kevin McMullen, OMNOVA Solutions’ chairman and
CEO. “This action, in addition to the $19 million in cost reductions previously
announced and completed, further strengthens OMNOVA’s competitive position and
provides momentum for the company in early 2009.