PolyOne Corporation (POL) has announced that its advanced, eco-friendly solutions are helping Schneider Electric to provide better product performance, improve efficiency and reinforce its globally recognized sustainability strategy.
The innovative materials by PolyOne have been featured in Schneider Electric's Multifix Air home electrical installations. The Airtight housings are designed with PolyOne's Maxxam FR and OnFlex non-halogenated, flame-retardant solutions.
The OnFlex material serves as a resistant elastic membrane that reduces air leakage between a building's interior and exterior by 95% compared to conventional electrical installation boxes, enabling Schneider Electric's customers to save energy. On the other hand, Maxxam solution has lower density than the standard materials, which reduces material consumption and housing weight that leads to higher production efficiency. The solutions help in saving energy while reducing material consumption during manufacturing.
PolyOne's shares moved marginally up yesterday to close at $38.15, after gaining around 0.6% in the trading session. The stock is up around 20% over a year.
PolyOne also recently announced that it was recognized at the inaugural Polymers and Plastics Innovation Awards for its efforts to replace metal in LED lights. PolyOne occupied the first place in the Best Lightweighting Innovation category for helping Ayfar Otomotiv to replace metal in LED headlights for off-road vehicles.
Moreover, the company took the second spot in the Plastics and Electronics category for replacing metal in architectural LED lighting produced by Finnish lighting specialist Kruunutekniikka. PolyOne helped its customers to replace metal with specialty polymer formulations that can conduct heat, provide electrical insulation, or conduct electricity.
Further, PolyOne also earned recognition in the Body Interior category at the SPE Automotive Innovation Awards in Detroit for collaborating with sensor manufacturer TDK-EPC Corporation. The companies partnered to develop an all-plastic temperature sensor in the 2015 Ford Edge to control heating and cooling of the vehicle's interior.
PolyOne is a Zacks Rank #4 (Sell) stock.
Other companies in the specialty chemicals space worth considering include Minerals Technologies Inc. (MTX), NL Industries Inc. (NL) and Taminco Corporation (TAM). All of them hold a Zacks Rank #1 (Strong Buy).
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