AKRON, OHIO — An extremely busy week for materials maker A. Schulman Inc. is featured in this week's Material Insights video.
Fairlawn, Ohio-based Schulman announced that it was spending about $50 million to acquire Network Polymers Inc., an engineering resins compounder and distributor based in nearby Akron. The purchase moves Schulman more into compounds based on ABS, polycarbonate and similar resins. Schulman also announced it was cutting jobs in Europe because of an economic slowdown there. Those cuts should total less than 100. Schulman wrapped up the busy week by announcing plans to sell its rotomolding compounds plant in Brisbane, Australia.
This week's video also features news of a 1-cent decline in North American polypropylene pricing. The decline was tied into low demand and increasing supplies of propylene monomer feedstock. It comes on the heels of a combined 16 cents in price declines in March-April. Those in turn had followed a 21-cent increase in January-February in an increasingly volatile PP sector.