18 August 2008 16:54 [Source: ICIS news]
HOUSTON (ICIS news)--US plastics compounder A Schulman is considering a joint venture or other "strategic arrangement" for its Invision segment, which produces a polyvinyl chloride (PVC) substitute initially marketed to the automobile industry, the company said on Monday.
The segment produces A Schulman's Invision product, which is based on polyolefin-sheet technologies that can replace paint, paint film, styrenics, acrylics and other materials, according to the company.
Possible end markets include agriculture, recreational vehicles, heavy trucks, automobiles and boats, the company said. Applications include exterior body panels, trim components, fenders, door panels, housings and enclosures.
"Invision is a unique product that has significant market potential both domestically and internationally, as well as a growing customer base," according to a statement by CEO Joseph Gingo.
"Our Invision technology is well developed in the areas of materials, processing and colouring, and we have a number of pending patents and innovations that are maintained as trade secrets," Gingo said.
"Nevertheless, Invision's broad-based potential extends beyond A Schulman's core markets."
While Schulman remains committed to the Invision segment, it is seeking a partner with whom to collaborate, Gingo said. Such a partner would help Schulman increase Invision sales.
Schulman said it will approach specific companies about the joint venture. However, the company is still open to all potential partners and "strategic arrangements".
In July, the company was considering a broader list of options for the Invision segment, including a possible sale or shutting down the business unit.
A Schulman shares traded at $23.69 on the NASDAQ as of 10:27 Houston time (15:27 GMT), up 0.77%.($1 = €0.68)
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