AKRON, Ohio, June 17 /PRNewswire-FirstCall/ -- A. Schulman, Inc. (NASDAQ:SHLM) today announced its selection of Colliers International, a commercial real estate consulting firm based in Cleveland, Ohio, to provide full management services for its global real estate assets.
Under the agreement, Colliers will handle all A. Schulman real estate leasing, acquisition and disposition activities, overseeing a portfolio that stretches through North America, Europe and Asia. Colliers will additionally manage a customized property database for A. Schulman, providing full transparency over the Company's real estate assets.
A. Schulman operates sales and marketing centers, research facilities, and manufacturing plants throughout the world. The Company began the year with a mission to reduce costs, increase productivity and improve the efficiency of its asset management under newly appointed Chairman and Chief Executive Officer Joseph M. Gingo's 100-Day Plan. The decision to hire a professional real estate management team became an action point under that plan and management began inviting real estate firms to present proposals.
"The collaboration with Colliers is a perfect fit as both company footprints are very similar, including locally based management," said Gingo, who had experience with Colliers' Public Sector Solutions Group during his tenure with the Goodyear Tire & Rubber Company prior to joining A. Schulman. Gingo was a lead executive on the Goodyear Headquarters site selection team and during this time worked closely with Public Sector Solutions' Managing Director Jane Campbell, who was a key component in the project's government relations and economic incentives.
"My experience with Colliers' capacity to work successfully with governmental issues that arise during development gave us the additional confidence to move forward with Colliers as A. Schulman's real estate management team," said Gingo.
Campbell will manage the A. Schulman account and its progress. The project will also have the direct engagement of David P. O'Neill, Managing Director and a Partner at Colliers. Colliers Vice President Barry Holtzer will be the lead transaction specialist. Senior Associate Diana Golob will manage transactions and maintain A. Schulman's property database.
"Colliers considers serving A. Schulman an honor," said Mr. O'Neill. "We are putting our strongest team on this new challenge." About Colliers Ostendorf-Morris Colliers Ostendorf-Morris is the largest, full service commercial real estate firm in northeast Ohio. With local offices in Cleveland, Akron, and Pepper Pike and as part of an organization of over 250 offices in 57 countries, the experienced professionals of Colliers Ostendorf-Morris provide clients with customized and creative solutions, consistently superior service, and the most comprehensive real estate services and worldwide coverage in the global marketplace. The pioneering tradition of global breadth and local depth means that the best firms around the world, under the umbrella of a single partnership, are working to create an impact for clients. Whether a client is looking for brokerage or investment advice, property management services, or a complete real estate outsourcing solution, Colliers OM has the answer. To find out more about how Colliers Ostendorf-Morris can deliver innovative real estate solutions customized for you, visit http://www.colliersom.com/.
About A. Schulman 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 2,400 people and has 16 manufacturing facilities in North America and Europe (including Asia). Revenues for the fiscal year ended August 31, 2007 were $1.8 billion. Additional information about A. Schulman can be found at http://www.aschulman.com/. DATASOURCE: A. Schulman, Inc.
CONTACT: Paul DeSantis, CFO and Treasurer of A. Schulman Inc., +1-330-666-3751 Web site: http://www.aschulman.com/ http://www.colliersom.com/
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