A Schulman announces start-up of US polymer additive plant

17 March 2009 15:02  [Source: ICIS news]

HOUSTON (ICIS news)--US plastics compounder A Schulman bucked the latest economic trends by announcing on Tuesday the start-up of a new plant in Akron, Ohio to produce polymer additives.

The plant will initially create approximately 20 jobs in the Akron area. A Schulman received financial credits from the city of Akron and the state of Ohio for opening the plant despite the recession.

“This major investment – particularly in today’s unstable economic environment – underscores our commitment to growth and providing new product innovations and process support to our customers,” said CEO Joseph Gingo.

The facility will expand the company’s production capacity for its Polybatch line of plastic additives, aimed primarily at the North American film and packaging markets.

Plans for the new plant were first announced on 20 August.

Shares of A Schulman increased slightly early on Tuesday at the New York Stock Exchange, trading at $13.69/share for a 0.81% rise from Monday’s close.

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By: Ben DuBose
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