AKRON, Ohio, Aug. 24 /PRNewswire-FirstCall/ -- A. Schulman, Inc. (NASDAQ: SHLM) announced today that Dennis Smith has been appointed to the newly created position of Director of New Business Applications.
"As we move forward with the implementation of our global growth strategy, the development of new businesses and identification of new applications for our products will play a significant role in our Company's future," said Joseph M. Gingo, Chairman, President and Chief Executive Officer. "Dennis is a proven innovator, a valuable member of our management team and highly qualified to lead our efforts in this important area. He has outstanding technical expertise, knowledge of our products and a strong commitment, which we all share, to unlock the full potential of A. Schulman's technology through the development of new opportunities." In his new role, reporting to Paul Boulier, A. Schulman's Chief Marketing Officer, Smith will continue to lead the development of A. Schulman's Invision sheet resins business and will coordinate its activities with the leaders of the Company's sales, marketing, production and development efforts in North America and Europe. In addition, he will evaluate growth opportunities in new businesses and applications such as Rotomolding, which the Company has identified as one of its global growth priorities. Smith will work with the entire Rotomolding team to identify and evaluate new materials, compounds, applications, markets and other opportunities for this business.
Smith has been Director of Technology and General Manager for the Invision sheet business since 2005. He began his career at A. Schulman in 1984 as a product development technician. He was a product development chemist from 1990 to 2005, along with product manager from 1993 to 2005, during which time he led the development and launch of a number of products for A. Schulman, including the launch of the Clarix brand ionomer products.
In 2002, Smith was awarded a patent for a novel thermoplastic elastomer (TPE) ionomer composition which is now marketed within the Invision TPE product portfolio. He has received innovation awards from the Society of Plastics Engineers for his work in exterior automotive components, and has patents pending for application and composition inventions related to A. Schulman's newly launched Invision enhanced polyolefin resins supporting the sheet extrusion and thermoforming industry. He graduated cum laude earning a bachelor's degree in manufacturing technology from Bowling Green State University in Bowling Green, Ohio.
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, 2008, were $1.98 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: Paul DeSantis, CFO and Treasurer of A. Schulman, Inc., +1-330-666-3751 Web Site: http://www.aschulman.com/
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