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AKRON, Ohio — A. Schulman, an international supplier of high-performance plastic compounds and resins, has entered into a joint venture agreement with National Petrochemical Industrial Company of Jeddah, Saudi Arabia, a subsidiary of Alujain Corporation.
The 50-50 joint venture, expected to be named NATPET-Schulman Engineering Plastic Compounds, will produce and globally sell polypropylene compounds.
The joint venture is planning to build a polypropylene compounding plant in Yanbu, Saudi Arabia, where it expects to begin production by the end of calendar-year 2014.
"Several aspects of this deal will accelerate A. Schulman''s expansion and visibility in its priority growth markets of Africa, India and the Middle East while better serving our existing global customers with high-quality polypropylene compounds," said Bernard Rzepka, general manager and chief operating officer of A. Schulman, Europe, Middle East, Africa. "At the same time, these actions will allow us to serve global customers more effectively by creating an efficient, cost-effective and state-of-the-art manufacturing facility in the Middle East."