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PolyOne: Acquisition of healthcare engineered materials manufacturer

In a move to expand its healthcare product portfolio, compounder and distributor PolyOne (Akron, Ohio / USA; www.polyone.com) has acquired the assets of speciality healthcare engineered materials manufacturer New England Urethane (NEU, North Haven, Connecticut / USA; www.neuinc.com). The USD 12m deal includes the option for an earn-out in 2011.

Elaborating on the financial reasoning behind the purchase, Robert M. Patterson, PolyOne's senior vice president and CFO, said that, "At a purchase price of approximately 4.9 times estimated 2009 EBITDA, we expect NEU will be accretive to earnings, adding a penny to earnings per share in 2010.”

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