A. Schulman sells Texas plant
Akron, Ohio-based A. Schulman, Inc. has agreed to sell its Orange, Tex.-based plant to specialty compounder Alloy P...
Akron, Ohio-based A. Schulman, Inc. has agreed to sell its Orange, Tex.-based plant to specialty compounder Alloy Polymers, Inc.
A. Schulman had announced its intentions to sell the Texas plant in February, shedding the plant’s annual capacity of approximately 135 million pounds.
The Orange, Tex. facility primarily provided third-party tolling services, and A. Schulman wants to exit the tolling business in order to concentrate on high value-added products.
The company will continue to manufacture proprietary products at the Orange facility through a service agreement.
The most recent sale comes on the heels of the company’s decision to shut down its manufacturing facility in St. Thomas, Ont. earlier this year. According to the company, the St. Thomas facility primarily produced engineered resins for the automotive market.
The St. Thomas closure was attributed to the company’s cost-cutting intentions, and the pressures of high oil prices and sluggish automotive sales.