A. Schulman, Inc. announced today that it has completed its acquisition of Network Polymers, Inc., a U.S. niche engineered plastics compounding and distribution business. The acquisition agreement was first announced on May 28, 2013, and the purchase price was approximately $49.5 million.
"With this acquisition, we are taking another step to strengthen our U.S. business by expanding our capabilities in niche engineered plastics," said Joseph M. Gingo, Chairman, President and Chief Executive Officer, A. Schulman. "We will continue to aggressively pursue acquisitions that are aligned with our global growth strategy to focus on niche products. We welcome everyone at Network Polymers to the A. Schulman team and look forward to their contributions."
The addition of Network Polymers expands A. Schulman's product offerings with a broad spectrum of custom resins and alloys to meet customer-specific product design and manufacturing requirements, including the Centrex® ASA family of products and the Diamond Polymer brand of ABS, ABS/PC, ASA and ASA/PC thermoplastic products. The acquisition also provides greater penetration in key markets such as building and construction, agricultural products, and lawn and garden, as well as the opportunity to leverage existing A. Schulman products and technology to a wider customer base.
About A. Schulman, Inc.
A. Schulman, Inc. is a leading international supplier of high-performance plastic compounds and resins headquartered in Akron, Ohio. Since 1928, the Company has been providing innovative solutions to meet its customers' demanding requirements. The Company's customers span a wide range of markets such as packaging, mobility, building & construction, electronics & electrical, agriculture, personal care & hygiene, sports, leisure & home, custom services and others. The Company employs approximately 3,400 people and has 36 manufacturing facilities globally. A. Schulman reported net sales of $2.1 billion for the fiscal year ended August 31, 2013. Additional information about A.