20 Mar 2008 - A. Schulman, Inc. announced that it has entered into an agreement with Alloy Polymers, Inc. for the sale of A. Schulman's plant in Orange, Texas. No financial details about the agreement were released. Alloy Polymers operates plants in Richmond, Virginia, Gahanna, Ohio, and Crockett, Texas.
On February 6, 2008, A. Schulman announced that it would pursue the sale of the Orange, Texas plant, which primarily provides third-party tolling services in which customer-owned materials are processed for a fee. Total annual capacity at the Orange plant is approximately 135 million pounds. The Company has decided to exit the tolling business to concentrate on higher value-added products, but will continue to manufacture proprietary products at the Orange facility through a service agreement with Alloy.
"Working closely with the Alloy Polymers team, we have been consistently impressed by their commitment to understanding our business and their development of a comprehensive service solution to address the critical needs of our markets," said Barry Rhodes, A. Schulman's Executive Vice President and Chief Operating Officer for North America.
On February 6, 2008, A. Schulman announced that it would pursue the sale of the Orange, Texas plant, which primarily provides third-party tolling services in which customer-owned materials are processed for a fee. Total annual capacity at the Orange plant is approximately 135 million pounds. The Company has decided to exit the tolling business to concentrate on higher value-added products, but will continue to manufacture proprietary products at the Orange facility through a service agreement with Alloy.
"Working closely with the Alloy Polymers team, we have been consistently impressed by their commitment to understanding our business and their development of a comprehensive service solution to address the critical needs of our markets," said Barry Rhodes, A. Schulman's Executive Vice President and Chief Operating Officer for North America.
