A Schulman agrees to acquire Brazil-based masterbatch producer

18 October 2010 13:38  [Source: ICIS news]

LONDON (ICIS)--A Schulman has agreed to purchase Mash Compostos Plasticos, a masterbatch additive producer and engineered plastics compounder based in Sao Paulo, Brazil, the US compounder said on Monday.

The transaction was expected to close on 3 November 2010 pending customary closing procedures, it added, without disclosing financial details of the deal.

A Schulman said that with the acquisition of Mash, it hoped to expand its presence in the Brazil, which was a key market for the group.

"Brazil is a highly attractive market for A Schulman and is very important to our growth strategy. It is a large, diversified market with strong macroeconomic fundamentals," said Joseph Gingo, A Schulman’s chairman, president and CEO.

"The Brazilian plastics industry holds significant growth potential because per-capita consumption of plastic is still much lower than in other countries. With this acquisition, and with our April 30, 2010 acquisition of [speciality resins manufacturer] ICO, which included two facilities in Brazil, we are aggressively expanding our presence in that market and enhancing our ability to serve customers," he added.

Gustavo Perez, A Schulman's general manager and chief operating officer of the Americas, said: "For the first time ever in Brazil, we will have the ability to grow our masterbatch and engineered plastics platforms.”

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By: Franco Capaldo
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