PolyOne merger timeline


Marcus Alonzo Hanna founds M.A. Hanna & Co. The company mines coal, iron ore and pig iron to fuel the industrial revolution. Hanna later changes the name to the Hanna Mining Co.


The BFGoodrich Co. launches its vinyl plastics division, which would later become the Geon Co.


Due to a declining steel industry, the Hanna Mining Co. diversifies and changes its name back to the M.A. Hanna Co. The company’s board of directors targets the formulated polymers industry and begins to acquire related smaller companies.


BFGoodrich spins off the Geon Co. It becomes the only North American company dedicated solely to the development, production and marketing of vinyl.

September 1998

Geon CEO William Patient contacts Hanna CEO Douglas McGregor to discuss a possible merger between the companies. From October 1998 to mid-February 1999, Geon and Hanna management meet to discuss the proposed merger.

October 1998

McGregor retires and is replaced by former Hanna CEO Martin D. “Skip” Walker, who comes out of retirement.

May 1999

Merger talks end when the companies cannot reach an agreement on the valuation of each. Thomas Waltermire succeeds Patient as president, CEO and chairman of Geon.

June 1999

Phillip Ashkettle is elected president and CEO of Hanna.

August 1999

Ashkettle calls Waltermire to resume merger talks, which begin later that month.

November 1999

Talks again terminate after disputes over the pricing terms of the merger.

April 2000

After several attempts by both sides, merger talks begin again after Hanna’s management reviews an outline of the proposed combination with Geon. During those talks, Waltermire agrees to be president and COO for the first two years of the merger; Ashkettle claims the CEO and chairman titles.

May 2000

Geon and Hanna’s boards agree to the terms of the merger for an even stock swap, creating the world’s largest polymer services company with $3.5 billion in annual revenue.

August 2000

After disagreements with his board over the direction of the newly formed company, Ashkettle resigns. Waltermire becomes PolyOne’s first president, CEO and chairman.

September 2000

PolyOne opens for trade on the New York Stock Exchange (NYSE: POL). Waltermire rings the bell to signal the start of the day’s trading. Source: PolyOne, M.A. Hanna Inc., The Geon Co.