US plastic compounds and resins company A. Schulman has announced plans for a new masterbatch plant in Turkey. The company is proposing to lease existing industrial facilities in the greater Istanbul area which it will convert into a production plant. The cost of the project is anticipated to be between €5 million and €7 million.

The facility is expected to be operational by the end of the 2016 fiscal year. It will produce about 40 million lb, or 18,000 t, annually of A. Schulman's premium additive, white and breathable masterbatches for food and industrial packaging customers in Turkey as well as countries in the Middle East and North Africa.

Commenting on the project, Heinrich Lingnau, A. Schulman's vice president and general manager - Europe, Middle East, Africa (EMEA), said: "We will be ideally positioned to participate more fully in the accelerating growth occurring throughout Turkey and other countries in the Middle East and North Africa. Likewise, it creates a strategic platform from which we can increase our share in this fast growing market. Furthermore, since we are currently serving our customers in Turkey from plants in Northern Europe, this new facility will allow us to improve service times and utilize capacity in Northern Europe in a more efficient manner."