30 January 2012 21:48 [Source: ICIS news]
HOUSTON (ICIS)--A Schulman has agreed to buy Elian, a French masterbatch producer, for $63m (€48m), the US-based plastics compounder said on Monday.
The deal should be complete by the end of February. A Schulman is acquiring the company from UK-based Vita.
“The acquisition of Elian will move us into the number three position in France's colour masterbatch market,” said A Schulman CEO Joseph Gingo.
“It also will allow us to significantly improve our product mix in the [Europe, Middle East and Africa] region by leveraging our full portfolio of masterbatch products with a wider customer base," he said.
Elian’s end-markets include healthcare, cosmetics, packaging, pipes and tubing and personal hygiene products.
($1 = €0.76)
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