A. Schulman buys McCann Color

Resin and compound manufacturer A. Schulman, Inc. has purchased McCann Color, Inc., a producer of color concentrates, for under US$10 million in cash.    

North Canton, Ohio-based McCann Color provides specially formulated color concentrates, as well as UV absorbers, dry color, toll compounding and blending, and flame retardant compounds.

“McCann Color is a perfect fit with our strategy to be a leading global manufacturer in the masterbatch business and, specifically, to advance the profitable growth of our North American color operations,” said Joseph M. Gingo, chairman, president and CEO of the Fairlawn, Ohio-based Schulman.  

Schulman has also announced plans to close its Polybatch Color Center located in Sharon Center, Ohio. Production will be consolidated with the McCann facility in North Canton.  

The consolidation and the acquisition integration are expected to be completed by the end of Schulman’s current fiscal year, August 31, 2010.  

Including the acquisition and the Sharon Center restructuring, Schulman expects to show an annual operating income improvement of US$2 million to US$3 million, the company said in a press release.