US plastics compounder and distributor A. Schulman has paid $6.7 million to acquire Australian plastics producer Compco.

The company based at Melbourne with sales of just under $A15m in fiscal 2014 (30 June) manufactures plastics compounds and products such as masterbatches and custom performance colors for applications in packaging, wire&cable and pipe.

Schulman CEO Joseph Gingo, said that although the acquisition - the company's tenth in four years - is relatively small, the benefits of Compco's industry-leading technology "will better position our business in the region and can be leveraged throughout our global footprint."