A. Schulman to Acquire Brazilian Plastics Maker
October 18, 2010
The Associated Press reports, plastic maker A. Schulman Inc., said it has agreed to acquire Brazilian plastics maker Mash Compostos Plasticos. Akron-based A. Schulman did not disclose terms of the transaction, which is expected to close on Nov. 3. Mash Compostos is Sao Paulo-based producer of additives and engineered plastics compounds. Joseph Gingo, A. Schulman''s chairman, president and CEO, said his company finds Brazil an attractive market because of its economic prospects and expectations of rising demand for plastics there. Earlier this year, A. Schulman completed its acquisition of ICO Inc., which included two facilities in Brazil. A. Schulman announced that deal in December, agreeing to pay $191.4 million to buy all outstanding shares of Houston-based ICO, which makes custom polymer powders and plastic film concentrates.