AKRON, Ohio, Aug. 19 /PRNewswire-FirstCall/ -- A. Schulman, Inc. (NASDAQ: SHLM) announced today that Ronald L. Wells has been named General Manager - North America Resin Distribution, effective September 1, 2009.
Wells' responsibilities will include directing all aspects of A. Schulman's North America resin distribution business. He will be responsible for overseeing further strategic development of this business to support A. Schulman's existing North American customer base in masterbatch and engineered plastics, and to capitalize on growing opportunities as global resin producers look increasingly to distribution to serve selected segments of the market. He also will assist in carrying out the Company's global procurement and supply chain strategy. He will report to Gary Miller, Vice President of Global Supply Chain and Chief Procurement Officer.
"Ron brings a high level of business knowledge and extensive global experience in purchasing and supply chain management," Miller said. "He will be a valuable addition to our management team and we look forward to his contributions in leading our resin distribution business, which we expect to be a continuing source of profitable growth and a complement to our other businesses." Wells' career spans more than 30 years in the chemical industry, including various positions in supply chain management and marketing. Most recently, he was Vice President, North America for RubberNetwork, a global sourcing and supply chain services company. He also served as Vice President, Business Development and Vice President, Americas for RubberNetwork during his eight years with the company. Prior to that, he held a variety of positions with The Goodyear Tire & Rubber Company, including directing the marketing of light truck tire product lines. He held successive assignments as the Regional Purchasing Manager for Goodyear's operations in Europe and served as Director of Purchasing for Goodyear's North American operations. Additionally, he served as a purchasing manager with Wingfoot Films Corporation, a manufacturer of polyethylene films, formerly owned by Goodyear. He graduated cum laude with a bachelor's degree in biology and chemistry from Illinois College in Jacksonville, Illinois.
Wells will replace Jeff Martin who has left the Company to pursue other opportunities.
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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