20 August 2012 14:40 [Source: ICIS news]
LONDON (ICIS)--A Schulman has signed a definitive agreement to acquire fellow US-based plastics compounder ECM Plastics for $36.5m (€29.6m), it said on Monday.
A Schulman said the acquisition of Massachusetts-based ECM enhances the group’s capabilities in the growing markets of personal care and cosmetics and expands its ?xml:namespace>
The transaction is expected to close in early September.
"With ECM's expertise in custom colour matching, higher-value compounding and specialty additive formulations, we believe they are an excellent strategic fit as we continue to focus on niche products,” said Joseph Gingo, chairman, president and CEO.
“We expect ECM to provide strong synergies when combined with our current masterbatch and engineered plastics businesses allowing us to strengthen our position for long-term profitable growth in the
Gustavo Perez, general manager and chief operating officer of the
ECM generates approximately $40m in annual sales, according to A Schulman.
In addition to the ECM acquisition, A Schulman announced the sale of its vinyl chloride compounding facility in
The sale will allow A Schulman to continue its
($1 = €0.81)
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