Schulman buys majority stake in Argentina rotomolding supplier
Canadian Plastics
Economy Plastics Industry Economic Changes/ForecastIn a move to further expand its presence in South America, compound and concentrate supplier A. Schulman, Inc. has bought a majority share of Buenos Aires-based rotational molding materials maker Surplast S.A. for US$1.1 million.
In a move to further expand its presence in South America, compound and concentrate supplier A. Schulman, Inc. has bought a majority share of Buenos Aires-based rotational molding materials maker Surplast S.A. for US$1.1 million.
According to Fairlawn, Ohio-based Schulman, it has purchased 51 per cent of the company. The other owner of the venture is Alta Plastica S.A., one of the largest distributors of resins in Argentina.
With this move, Schulman will now have a facility in Argentina, in addition to three facilities that the company previously acquired in Brazil.
In a press release, Gustavo Perez, Schulman’s general manager and chief operating officer of the Americas, described the company’s goal as providing masterbatch, engineered plastics and rotomolded products to meet growing demand in South America.
Founded in 2004, Surplast describes itself on its website as a manufacturer of low-, medium, and high-density polyethylene, as well as a distributor of prime resins, including polyethylene, polypropylene, ethylene vinyl acetate (EVA), polyvinyl chloride, and engineering plastics.
