FAIRLAWN, Ohio, Jan. 15 /PRNewswire/ -- OMNOVA Solutions Inc. (NYSE: OMN)
today announced that the New York Stock Exchange (NYSE) has notified the
Company that it has accepted the Company's proposed plan for continued listing
on the NYSE.
As a result of the acceptance, the Company's common stock will continue to
be listed on the NYSE pending quarterly reviews by the NYSE's Listing and
Compliance Committee to ensure progress against the plan.
"We are proud that OMNOVA and its predecessor have been listed on the New
York Stock Exchange for 71 consecutive years, a relationship we fully intend
to maintain," said Kevin McMullen, OMNOVA Solutions' Chairman and Chief
Executive Officer. "We look forward to continuing to work with the New York
Stock Exchange to execute our plan and remain a listed company."
The Company previously announced that it was notified by the NYSE that it
had fallen below compliance with the continued listing criteria pertaining to
minimum stock price and total market capitalization and shareholders' equity.
OMNOVA will release 2008 fourth quarter earnings on January 20, 2009. The
Company previously announced that it expects a profitable second half and
fourth quarter for 2008 and that cost actions already taken in 2008 and early
2009 are expected to yield $19 million in savings in 2009.
OMNOVA Solutions Inc. is a technology-based company with proforma 2007
sales of $836 million and a current workforce of approximately 2,630 employees
worldwide. 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 Inc.