A. Schulman to Acquire Delta Plast Group, a European Manufacturer of Color Masterbatches
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AKRON, Ohio, June 13 / -- A. Schulman, Inc. (NASDAQ:SHLM) announced today that it has agreed to acquire the Delta Plast Group, a European color masterbatch manufacturer with annual sales of approximately $20 million and operations in Sweden and Belgium. A. Schulman plans to operate Delta Plast as a division of its Polybatch business unit and as a wholly owned subsidiary of A Schulman Plastics BVBA.
"This acquisition will move our European capabilities another step forward by substantially expanding our offerings of color masterbatches," said Terry L. Haines, chairman, president and chief executive officer of A. Schulman. "It also will enhance our ability to provide our customers a unique mixture of both large-volume and highly specialized small-volume masterbatches with superior quality and service."
Jack Taylor, general manager of A. Schulman's operations in Europe (including Asia), said, "Delta has an excellent reputation for quality and customer service, and although A. Schulman is also a masterbatch manufacturer, Delta operates in a different market segment and is expected to provide an attractive range of synergies with A. Schulman's Polybatch business unit."
Mr. Ake Berg, the current owner of Delta Plast, will continue to manage its operations as managing director, and the business will continue to use the Delta Plast trade name and trademark.
The acquisition is expected to be minimally accretive to A. Schulman's earnings during its fiscal year ending August 31, 2007. The transaction is subject to regulatory approval and other customary closing conditions, and is expected to be completed by June 30, 2007.
About A. Schulman, Inc.
Headquartered in Akron, Ohio, A. Schulman is a leading international supplier of high-performance plastic compounds and resins. These materials are used in a variety of consumer, industrial, automotive and packaging applications. The Company employs about 2,400 people and has 15 manufacturing facilities in North America and Europe (including Asia). Revenues for the fiscal year ended August 31, 2006, were $1.6 billion. Additional information about A. Schulman can be found at http://www.aschulman.com/.
Source: A. Schulman Inc.
CONTACT:Paul DeSantis, CFO and Treasurer of A. Schulman Inc.,
+1-330-666-3751
Web site: http://www.aschulman.com/
