U.S.-based global supplier of high-performance plastic compounds and resins A. Schulman Inc. has acquired the Perrite Group, a thermoplastics manufacturing business with operations in Malaysia, the UK and France, for approximately US$52 million.
According to Fairlawn, Ohio-based Schulman, the purchase is expected to increase its revenues in the Asia Pacific (APAC) segment by 35 per cent, and will double the size of the company's existing engineered plastics business in the region.
"Expansion of our Custom Performance Colors and Engineered Plastics businesses in APAC is a key component of our growth strategy, and the addition of Perrite's manufacturing facility in Malaysia will enhance our ability to serve key customers in the region as well as globally,” Joseph Gingo, Schulman’s chairman, president and CEO, said in a press release. “It also provides an attractive opportunity to leverage our broader portfolio of products through our successful color and niche engineered plastics businesses in EMEA and the Americas.”
Perrite has manufactured and distributed thermoplastic compounds for the electrical, automotive, and industrial markets for more than 35 years, offering product lines that include the high-performance Ronfalin ABS brand and prime-quality polyamide Vitamide range. Other key brands include Percom polypropylene, Perlex polycarbonate, Styralin polystyrene and Pertal POM. Perrite employs approximately 220 people and reported revenues of US$140 million in fiscal 2012.