AKRON, Ohio, April 23, 2015 /PRNewswire/ -- A. Schulman,
Inc. (Nasdaq: SHLM), a leading international supplier of
high-performance plastic compounds, powders and resins, today
announced that it has expanded its existing polyethylene
terephthalate ("PET") compounding capacity by adding a new
production line at the Bornem masterbatch plant in Belgium.
"The additional PET capacity will reinforce our leading market
position as a masterbatch provider for the European food packaging
and BoPET film markets," said Heinrich
Lingnau, Vice-President and General Manager Europe, Middle
East and Africa ("EMEA"),
A. Schulman. "This investment is indeed aligned with current
megatrends and addresses the needs of the packaging market."
"Coupled with our extensive technical and market knowledge as
well as the existing polystyrene and polyolefin offering, this
investment will enable us to meet our customers' growing demand for
customized food packaging solutions," added Frank Roederer, Business Unit Director
Masterbatch, EMEA.
The added PET product, which is commercialized under the name of
PolyPet™, will significantly increase the Company's
PET yearly production capacity. In the first phase, the new line
will be dedicated primarily to the production of additive
concentrates and white PET masterbatch.
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.