OMNOVA Sells Illinois Extrusion Assets
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.
“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.
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