A. Schulman Completes Buy of Ferro Specialty Plastics Business
US plastics compounder and distributor A. Schulman has completed its acquisition of a "selected majority" of Ferro's Specialty Plastics assets for $91 million in cash.
The deal announced on June 4 includes four facilities in the US and Spain. Schulman expects it to deliver $5.5 million in synergies within 12 to 18 months following the close of the transaction, driven primarily by sourcing activities and plant efficiency actions.
Ferro's Specialty Plastics business is a global supplier of custom engineered plastic compounds, colorants, and liquid coatings with a broad portfolio aimed at end-markets including packaging, transportation, construction, appliances and agriculture
"This acquisition is an excellent strategic complement to our existing capabilities and reflects our ongoing effort to expand our product offerings and geographic reach in target markets," said Schulman CEO Joseph M. Gingo.
