A. Schulman buying compound maker Network Polymers
Canadian Plastics
Economy Plastics Industry Economic Changes/ForecastIn a bid to strengthen its U.S. position, resin maker A. Schulman Inc. is acquiring Akron, Ohio-based engineering resin compounder and distributor Network Polymers Inc. for US$50 million,
In a bid to strengthen its U.S. position, resin maker A. Schulman Inc. is acquiring Akron, Ohio-based engineering resin compounder and distributor Network Polymers Inc. for US$50 million,
The transaction is anticipated to close within the next few months.
“Network Polymers is an excellent fit with our ongoing strategy as we continue to enhance our niche engineered plastics business in the U.S.,” said Joseph M. Gingo, Akron-based A. Schulman’s chairman, president and CEO. “Network Polymers will provide greater penetration in key markets such as building and construction, agricultural products, and lawn and garden. It also brings strong technical expertise and a seasoned sales force that will help to leverage existing A. Schulman products and expertise to a wider customer base. In addition, the combination will expand our distribution business in the U.S.”
Network Polymers operates from a 72,000-square-foot manufacturing facility in Akron and employs 70. It recorded revenues of US$65.3 million in fiscal 2012.
