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The new facility will facilitate collaboration, accelerate application development and increase speed-to-market for customers in the Asia Pacific region.
The state-of-the-art facility will be strategically located in a new hi-tech industrial park in the JinQiao Development Zone in Shanghai, and will focus on research and development projects generated within the company's Specialty Engineered Materials business segment. The new Innovation Center is expected to open in the fourth quarter of 2014.
"We are very pleased to be making this investment in such an important region," said Craig Nikrant, president, Global Specialty Engineered Materials. "Our customers in Asia will benefit from the expanded infrastructure, technical resources and unparalleled expertise that will be offered at our new Innovation Center."
Commenting on PolyOne's recent growth in Asia, Robert M. Patterson, executive vice president and chief operating officer said, "In 2013 we delivered record revenues and operating income in Asia. Our 'invest to grow' strategy in the region is clearly working, and our new Innovation Center is yet another step in what we expect will be continued growth for our customers and PolyOne."
