A. Schulman Announces Plans to Establish a Masterbatch Facility in India
A. Schulman, Inc. announced it plans to establish a masterbatch facility in western India to better serve its customers in the region, which is a key geographic growth market for A. Schulman. A specific location for the facility has not yet been determined.
The facility initially will consist of one line and will manufacture the Company’s masterbatch products which serve the packaging, appliance and consumer products markets. Its capacity is projected to be approximately 12 million pounds per year, and production is expected to begin within the next 12 months.
“In line with our strategic direction, we are continuing our geographic expansion in growing markets across Asia,” said Joseph M. Gingo, Chairman, President and Chief Executive Officer. “The new plant, which will be our third manufacturing facility in Asia, will increase our capability to serve our growing customer base in this attractive market and will be another step in our progress toward becoming the number-one global manufacturer in the masterbatch market.”
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