AKRON, Ohio, April 7, 2015 /PRNewswire/ -- A. Schulman,
Inc. (Nasdaq: SHLM), a leading international supplier of
high-performance plastic compounds, powders and resins, today
announced plans to establish a new Masterbatch production plant in
Turkey. This new facility will
produce, when fully operational, approximately 40 million pounds of
the Company's premium additive, white, and breathable masterbatches
for food and industrial packaging customers in Turkey and other fast-growing countries in the
Middle East and North Africa.
The Company plans to lease existing industrial facilities in the
greater Istanbul area, which it
will convert into a state-of-the-art production plant at a cost
projected to be in the €5 million to €7 million range. This new
facility is expected to be in production by the end of fiscal
2016.
"By establishing this production plant in Turkey, we simultaneously achieve several
strategic priorities," said Heinrich
Lingnau, vice president and general manager – Europe/Middle
East/Africa (EMEA). "First,
through this timely investment, we will be ideally positioned to
participate more fully in the accelerating growth occurring
throughout Turkey and other
countries in the Middle East and
North Africa. Likewise, it creates
a strategic platform from which we can increase our share in this
fast growing market. Furthermore, since we are currently serving
our customers in Turkey from
plants in Northern Europe, this
new facility will allow us to improve service times and utilize
capacity in Northern Europe in a
more efficient manner."
"We are very excited to establish a strong, local presence in
Turkey, which is fast-becoming the
premier gateway for commerce between East and West," said
Frank Roederer, business director
masterbatch solutions, EMEA at A. Schulman. "We believe the
highly skilled labor force in the Istanbul area, as well as the underlying
cultural fit we find in Turkey,
will provide us with a strong competitive advantage over the long
term."
About A. Schulman, Inc.
A. Schulman, Inc. is a
leading international supplier of high-performance plastic
compounds and resins headquartered in Akron, Ohio. Since 1928, the Company has been
providing innovative solutions to meet its customers' demanding
requirements. The Company's customers span a wide range of markets
such as packaging, mobility, building & construction,
electronics & electrical, agriculture, personal care &
hygiene, sports, leisure & home, custom services and others.
The Company employs approximately 3,900 people and has 42
manufacturing facilities globally. A. Schulman reported net sales
of approximately $2.5 billion for the
fiscal year ended August 31, 2014.
Additional information about A. Schulman can be found at
www.aschulman.com.
Cautionary Statements
A number of the matters
discussed in this document that are not historical or current facts
deal with potential future circumstances and developments and may
constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by the fact that they do not relate
strictly to historic or current facts and relate to future events
and expectations. Forward-looking statements contain 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. Forward-looking statements are based on management's
current expectations and include known and unknown risks,
uncertainties and other factors, many of which management is unable
to predict or control, that may cause actual results, performance
or achievements to differ materially from those expressed or
implied in the forward-looking statements. 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 or countries where the
Company has operations;
- the effectiveness of the Company's efforts to improve operating
margins through sales growth, price increases, productivity gains,
and improved purchasing techniques;
- competitive factors, including intense price competition;
- fluctuations in the value of currencies in areas where the
Company operates;
- volatility of prices and availability of the supply of energy
and raw materials that are critical to the manufacture of the
Company's products, particularly plastic resins derived from oil
and natural gas;
- changes in customer demand and requirements;
- effectiveness of the Company to achieve the level of cost
savings, productivity improvements, growth and other benefits
anticipated from acquisitions and the integration thereof, joint
ventures and restructuring initiatives;
- escalation in the cost of providing employee health care;
- uncertainties regarding the resolution of pending and future
litigation and other claims;
- the performance of the global automotive market as well as
other markets served;
- further adverse changes in economic or industry conditions,
including global supply and demand conditions and prices for
products;
- operating problems with our information systems as a result of
system security failures such as viruses, cyber-attacks or other
causes;
- our ability to consummate the
Citadel acquisition and the timing of the closing thereof
for any reason, whether or not the fault of the Company;
- the failure to obtain the necessary financing in connection
with the Citadel acquisition for any
reason, whether or not the fault of the Company;
- the impact of the indebtedness incurred to finance the Citadel acquisition;
- integration of the business of Citadel with our existing
business, including the risk that the integration will be more
costly or more time consuming and complex or simply less effective
than anticipated;
- our ability to achieve the anticipated synergies, cost savings
and other benefits from the Citadel
acquisition;
- transaction and acquisition-related costs incurred in
connection with the Citadel acquisition
and related transactions; and
- substantial time devoted by management to the integration after
the closing of the Citadel
acquisition.
The risks and uncertainties identified above are not the only
risks the Company faces. Additional risk factors that could affect
the Company's performance are set forth in the Company's Annual
Report on Form 10-K for the fiscal year ended August 31, 2014. 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.
SHLM_ALL
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SOURCE A. Schulman, Inc.