Wednesday, January 27th, 2010
On the January 8th episode of CNBC’s investement show Mad Money, hyperactive host Jim Cramer devoted a significant amount of time discussing the plastics industry and, in particular, SPI member company PolyOne. Watch the video above.
Once you get passed his antics with the two Barbie dolls — which, in explaining plastics’ processes and societal contributions he names as his two girlfriends “Polly” and “Ethel” (get it?) – Cramer describes the strategic and managerial changes PolyOne has made to transform the company. Cramer calls PolyOne a “fabulous bet on America’s economic recovery” and a ”true plastic turnaround story.” He concludes by saying, “I know that everyone is looking for recovery plays that have not happened… I want you to look no further than PolyOne.”
Headquartered in Avon Lake, Ohio, PolyOne Corporation, with 2008 annual revenues of $2.7 billion, is a premier provider of specialized polymer materials and services. According to Plastics News, PolyOne posted profits of nearly $44 million in the first nine months of 2009, despite sales falling 32 percent to $1.5 billion compared to the same period in 2008. The profit during this nine-month time period was four times as large as profit from the year-ago period.