A. Schulman to acquire Delta Plast Group
A. Schulman, Inc. announced that it has agreed to acquire the Delta Plast Group, a European color masterbatch manufacturer with annual sales of approximately $20 million and operations in Sweden and Belgium. A. Schulman plans to operate Delta Plast as a division of its Polybatch business unit and as a wholly owned subsidiary of A Schulman plastics BVBA.
"This acquisition will move our European capabilities another step forward by substantially expanding our offerings of color masterbatches," said Terry L. Haines, chairman, president and chief executive officer of A. Schulman. "It also will enhance our ability to provide our customers a unique mixture of both large-volume and highly specialized small-volume masterbatches with superior quality and service."
The acquisition is expected to be minimally accretive to A. Schulman's earnings during its fiscal year ending August 31, 2007. The transaction is subject to regulatory approval and other customary closing conditions, and is expected to be completed by June 30, 2007.
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