AKRON, Ohio, May 2, 2016 /PRNewswire/ -- A. Schulman, Inc.
(Nasdaq: SHLM), a leading international supplier of
high-performance plastic compounds, powders and resins, announced
today plans to create an Accounting and Shared Service Center of
Excellence ("SSC") in Akron, Ohio
that will be responsible for back office processes for all U.S. and
Canada operations.
"The decision to create this SSC is in line with actions we've
already successfully implemented in Europe, and will greatly enhance our internal
processes and productivity. Additionally, this project will
contribute to our Smart Savings initiative in the region," said
Joseph Levanduski, executive vice
president and chief financial officer. "This program will foster
greater efficiencies, harmonization and enhance service levels to
our customers as we fully integrate these functions into one center
of excellence." Plans call for a phased implementation and
will impact associates responsible for general accounting, credit,
collections, accounts payable and payroll transactions. This plan
will also systematically complete the conversion of the remaining
non-standard ERP platforms at sites in the United States.
The Company expects this initiative will result in the
elimination of approximately 25 headcount throughout the United States partially offset by the
addition of approximately 15 headcount at the SSC. Anticipated
costs of this action are expected to be approximately $2.5 million over the next 18 months. The SSC is
expected to deliver annual savings of approximately $2 million when fully operational in the first
half of fiscal 2018, and will benefit the fourth quarter of fiscal
2016 by approximately $0.3
million.
Please visit http://tinyurl.com/asissc for more information on
joining the A. Schulman Accounting and Shared Service Center of
Excellence team in Akron,
Ohio.
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 5,000 people and has 57
manufacturing facilities globally. A. Schulman reported
net sales of approximately $2.4 billion for the fiscal
year ended August 31, 2015. Additional information
about A. Schulman can be found at www.aschulman.com.
SHLM_ALL
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SOURCE A. Schulman, Inc.