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Schulman acquired Australia-based Compco

September 04/2014

MOSCOW (MRC) -- A. Schulman, Inc. has acquired Compco Pty. Ltd. located near Melbourne, Australia, for USD6.7 million in cash, said the producer in its press-release.

Compco is a manufacturer of a variety of plastic compounds and products including masterbatches and custom performance colors. Key markets include packaging, wire & cable and pipe. Compco achieved revenues of nearly USD15 mln for its fiscal year ending June 30, 2014.

Joseph M. Gingo, Chairman, President and Chief Executive Officer of A. Schulman, stated, "This is our 10th acquisition in the last four years and, although it is relatively small compared with our entire organization, the benefits of Compco's industry-leading technology will better position our business in the region and can be leveraged throughout our global footprint."

"Compco holds a strong position and significant growth potential in the Australian market and beyond, and its products are aligned with our strategic focus and objectives in the Asia Pacific (APAC) region," said Bernard Rzepka, Executive Vice President and Chief Operating Officer of A. Schulman.

"The acquisition expands the capabilities of our APAC operations and marks our first entry into the growing pipe and highly regulated wire & cable markets. This move is a positive next step as we remain committed to growing both organically and through acquisitions in the strategically important APAC region."

As MRC wrote before, A. Schulman agreed to purchase a majority of the assets of the specialty plastics business of Ferro Corp. for USD91 million in cash. The purchase agreement includes four facilities located in the US as well as operations in Spain. Subject to the satisfaction of customary closing conditions and regulatory approvals.

A. Schulman, Inc. is an international supplier of high-performance plastic compounds and resins headquartered in Akron, Ohio.  The Company's customers span a wide range of markets such as packaging, mobility, building & construction, electronics,  electrical, agriculture, personal care and hygiene, sports, leisure & home, custom services and others.  A. Schulman reported net sales of USD2.1 billion for the fiscal year ended August 31, 2013.



mrcplast.com
Author:Anna Larionova
Tags:compounding, construction, packaging, paints and coatings, masterbatches, soft compounds, A.Schulman.
Category:General News
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