US compounder and distributor PolyOne (Avon Lake, Ohio; www.polyone.com) has announced it is closing two plants in Brazil as part of plans to streamline its operations. The plants, located in Diadema in Sao Paulo state and Joinville in Santa Catarina state, produce specialty engineered plastics. PolyOne said it would continue to operate its other two Brazilian facilities, in Novo Hamburgo in Rio Grande do Sul and Itupeva in Sao Paulo.

"This asset realignment will accelerate our specialty strategy in Brazil, streamline our operations, and improve our financial performance in the region," said PolyOne CEO Robert Patterson. "These actions will increase our focus on specialty solutions for customers, consistent with current and future market trends in this important and strategic market."

As a result of these actions, the company expects to incur cash costs of USD 5m (EUR 3.7m) plus non-cash charges of USD 12m primarily associated with accelerated depreciation and asset impairments.