FAIRLAWN, Ohio, Sept. 12, 2011 /PRNewswire/ -- OMNOVA Solutions (NYSE: OMN) today announced that members of United Steelworkers Local 22L have ratified a three-year labor agreement at the Company's Jeannette, Pennsylvania decorative products plant. The vote of the membership was held on Saturday, September 10, 2011. Details of the agreement were not disclosed. "We commend the union for their willingness to work together to address issues critical to the competitiveness of the Jeannette facility," said Kevin McMullen, OMNOVA Solutions' Chairman and Chief Executive Officer. "This contract will help improve the plant's competitive position in a very challenging marketplace while continuing to provide excellent jobs with very good wages and benefits for employees and their families." The Jeannette, Pennsylvania facility is part of OMNOVA's Decorative Products business unit, with about 105 of its 138 employees represented by Local 22L. The plant produces performance and industrial films used in a number of products, including awnings, signage, swimming pools, medical inflatables, commercial ceilings, and flooring. OMNOVA Solutions is a technology-based company with pro forma sales for the twelve months ending May 31, 2011 of $1.2 billion and a global workforce of approximately 2,800. OMNOVA is an innovator of emulsion polymers, specialty chemicals, and decorative and functional surfaces for a variety of commercial, industrial and residential end uses. Visit OMNOVA Solutions on the internet at www.omnova.com. SOURCE OMNOVA Solutions
Jefferies analysts note that recent construction spending data indicates a cycle rotation away from construction-exposed names and toward industrial- and durable goods-levered firms could be playing out.