Company:OMNOVA Solutions

Short description: American chemical company

OMNOVA Solutions

Type	Public
Traded as	NYSE: OMN Russell 2000 Component
Industry	Specialty Chemicals
Founded	1999
Headquarters	Beachwood, Ohio , United States
Key people	Anne Noonan (president & CEO); Paul DeSantis (CFO)
Products	Emulsion Polymers, Specialty Chemicals, and Decorative and Functional Surfaces
Revenue	US$759.9 million (FY 2016)
Net income	-US$.4 million (FY 2016)
Total assets	US$693.2 million (FY 2016)
Total equity	US$109.8 million (FY 2016)
Number of employees	2,100
Website	www.omnova.com
Footnotes / references

OMNOVA Solutions Inc., is a global manufacturer of emulsion polymers, specialty chemicals, and functional and decorative surfaces. OMNOVA was founded in 1999 when GenCorp spun off its Decorative & Building Products and Performance Chemicals businesses into a separate, publicly traded company. OMNOVA's world headquarters is located in Beachwood, Ohio with additional sales, manufacturing and distribution locations through Europe and Asia.

Products

OMNOVA produces a variety of products within two Business Units - Performance Chemicals and Engineered Surfaces. The Engineered Surfaces business the following divisions: Performance Chemicals, Pool Liner Films, Performance Films, Laminates, viewnique Digital Murals and Upholstery.

Performance Chemicals

According to OMNOVA's webpage, the Performance Chemicals business makes up about 75% of the Company's revenues. Emulsion polymers and specialty chemicals are key ingredients in products for a wide variety of end uses including architectural and industrial coatings; nonwovens used in hygiene products, filtration and construction; drilling additives for oil and gas exploration and production; elastomeric modification of plastic casings and hoses used in household and industrial products and automobiles; floor polishes and sealers; tire cord and other fabric reinforced rubber goods; molded rubber components; tapes and adhesives; sports surfaces; textile finishes; carpet backing; coated paper and packaging; and the list goes on.

The performance features of end use products that incorporate OMNOVA chemicals include stain, rust and aging resistance; surface modification; gloss; softness or hardness; dimensional stability; high heat and pressure tolerance; binding and barrier (e.g. moisture, oil) properties, and others.

Engineered Surfaces

OMNOVA's Engineered Surfaces business comprises the remaining 25% of the company's sales. Laminates, coated fabrics and films are primarily rolled goods (and occasionally sheets) of vinyl, polyurethane or paper. Superior durability, cleanability, stain and chip resistance, and design flexibility are hallmarks of these products. Additionally, the Engineered Surfaces Business Unit's products include viewnique digital wall murals which can be used to create branded interior for restaurants and retail chains.

Laminates

OMNOVA's laminate portfolio includes realistic woodgrains, faux marbles and granites, contemporary patterns and solids, available in a variety of textures, colors, and surface decorative and protective finishes in a range of constructions from cost-effective Paper Laminates to high-performance 3D (thermofoil) Laminates. OMNOVA's laminates are used to fabricate retail fixtures and displays, casework for hospitality and food service; kitchen and bath cabinetry; residential and commercial furniture; recreational vehicle and manufactured housing interiors; and luxury vinyl tile flooring.

Upholstery

OMNOVA's coated fabrics are primarily used in upholstered seating as a high performance alternative to textile upholsteries, which are costly and difficult to clean. Major and emerging automotive OEMs in Asia are increasingly depending on OMNOVA’s coated fabrics to upgrade the quality of their seating. Additionally, OMNOVA's vinyl and polyurethane upholstery is used across the global transportation sector in mass transit trains and buses, heavy duty trucks and boats. OMNOVA's upholstery products are also used in various contract applications including healthcare, casinos, hospitality and corporate office.

Acquisition by Synthomer

On July 2, 2019, Synthomer announced that it's going to buy Omnova Solutions for an enterprise value of $824 million in a bid to strengthen it's global position as heard from Reuters . The deal was completed on January 15, 2020. So this means that Synthomer will still acquire Omnova Solutions later in the year.