FAIRLAWN, OH – OMNOVA Solutions Inc. announced the sale of production assets at its leased Dupo, IL, narrow gauge film extrusion facility to Wiman Corp., part of RTP Co.’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.
“We look forward to an ongoing supply relationship with the Dupo facility under Wiman, and we are pleased that they intend to retain the current workforce,” McMullen added.
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