A. Schulman, Inc. announced that it has completed its acquisition of a selected majority of the assets of the Specialty Plastics business segment from Ferro Corporation for $91 million in cash. The agreement to acquire the assets was first announced on June 4, 2014. The acquisition includes four facilities located in the U.S. as well as operations in Spain.
“This acquisition is an excellent strategic complement to our existing capabilities and reflects our ongoing effort to expand our product offerings and geographic reach in target markets,” said Joseph M. Gingo, chairman, president and CEO of A. Schulman. “We welcome the highly talented Specialty Plastics team to A. Schulman, and we are confident that they will fit in well with our performance-oriented growth culture.”
The Specialty Plastics segment is a global supplier of custom engineered plastic compounds, colorants, and liquid coatings. The business offers a broad portfolio of proprietary products and recognized brand names serving a wide range of end markets including packaging, transportation, construction, appliances and agriculture.