PolyOne Corp. (POL) announced that it has acquired substantially all of the assets of New England Urethane Inc. The purchase price of $12 million includes an earn-out payable in 2011.
New England Urethane provides engineered thermoplastics, services and solutions to the healthcare market.
Robert Patterson, SVP and CFO, said, "At a purchase price of approximately 4.9 times estimated 2009 EBITDA, we expect New England Urethane will be accretive to earnings, adding a penny to earnings per share in 2010".
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