AKRON, Ohio, Oct. 26 /PRNewswire-FirstCall/ -- A. Schulman, Inc. (NASDAQ: SHLM) announced today it plans to establish a masterbatch facility in western India to better serve its customers in the region, which is a key geographic growth market for A. Schulman. A specific location for the facility has not yet been determined.
The facility initially will consist of one line and will manufacture the Company's masterbatch products which serve the packaging, appliance and consumer products markets. Its capacity is projected to be approximately 12 million pounds per year, and production is expected to begin within the next 12 months.
"In line with our strategic direction, we are continuing our geographic expansion in growing markets across Asia," said Joseph M. Gingo, Chairman, President and Chief Executive Officer. "The new plant, which will be our third manufacturing facility in Asia, will increase our capability to serve our growing customer base in this attractive market and will be another step in our progress toward becoming the number-one global manufacturer in the masterbatch market." About A. Schulman, Inc.
Headquartered in Akron, Ohio, A. Schulman is a leading international supplier of high-performance plastic compounds and resins. These materials are used in a variety of consumer, industrial, automotive and packaging applications. The Company employs about 2,000 people and has 16 manufacturing facilities in North America, Europe and Asia. Revenues for the fiscal year ended August 31, 2009, were $1.3 billion. Additional information about A. Schulman can be found at http://www.aschulman.com/.
Forward-Looking Statements Certain statements in this release may constitute forward-looking statements within the meaning of the Federal securities laws. These statements can be identified by the fact that they do not relate strictly to historic or current facts. They use such words as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. These forward-looking statements are based on currently available information, but are subject to a variety of uncertainties, unknown risks and other factors concerning the Company's operations and business environment, which are difficult to predict and are beyond the control of the Company. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements, and that could adversely affect the Company's future financial performance, include, but are not limited to, the following: -- Worldwide and regional economic, business and political conditions,
including continuing economic uncertainties in some or all of the
Company's major product markets;
-- Fluctuations in the value of currencies in major areas where the
Company operates, including the U.S. dollar, Euro, U.K. pound
sterling, Canadian dollar, Mexican peso, Chinese yuan and Indonesian
rupiah;
-- Fluctuations in the prices of sources of energy or plastic resins and
other raw materials;
-- Changes in customer demand and requirements;
-- Escalation in the cost of providing employee health care;
-- The outcome of any legal claims known or unknown;
-- The performance of the global auto market;
-- The global financial market turbulence; and -- The global or regional economic slowdown or recession.
Additional risk factors that could affect the Company's performance are set forth in the Company's Annual Report on Form 10-K. In addition, risks and uncertainties not presently known to the Company or that it believes to be immaterial also may adversely affect the Company. Should any known or unknown risks or uncertainties develop into actual events, or underlying assumptions prove inaccurate, these developments could have material adverse effects on the Company's business, financial condition and results of operations.
This release contains time-sensitive information that reflects management's best analysis only as of the date of this release. A. Schulman does not undertake an obligation to publicly update or revise any forward-looking statements to reflect new events, information or circumstances, or otherwise. Further information concerning issues that could materially affect financial performance related to forward-looking statements can be found in A. Schulman's periodic filings with the Securities and Exchange Commission. DATASOURCE: A. Schulman, Inc.
CONTACT: Jennifer K. Beeman, Director of Corporate Communications & Investor Relations of A. Schulman, Inc., +1-330-668-7346, Cell: +1-330-620-7829, Web Site: http://www.aschulman.com/
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