A. Schulman acquires thermoplastics manufacturer Perrite Group

By Frank Esposito
Senior Staff Reporter

Published: September 3, 2013 8:41 am ET
Updated: September 4, 2013 1:17 pm ET

Related to this story

Topics Materials, Mergers & Acquisitions, Materials Suppliers
Companies & Associations A. Schulman Inc.

Materials firm A. Schulman Inc. has acquired British compounder and resin distributor Perrite Group for about $52 million.

Perrite is based in Cheshire, England, and employs 220 at plants in the United Kingdom, France and Malaysia. The firm has annual sales of $140 million and makes flame-retardant, impact-modified, anti-microbial, color and other types of compounds based on a variety of commodity and engineering resins. It also distributes resin for Sabic and other suppliers.

Perrite sells into numerous markets. Including electrical, automotive and industrial. In a Sept. 3 news release, Schulman Chairman, President and CEO Joseph Gingo said that the acquisition "will allow [Schulman] to strengthen our European niche Engineered Plastics business." The deal also will move Schulman into "adjacent markets," he said, such as insulation materials for the sub-sea flexible oil pipe market.

It's the second acquisition this year for Fairlawn, Ohio-based Schulman and its eighth overall in the last four years. Earlier this year, the firm bought compounder/distributor Network Polymers Inc. of Akron, Ohio, for about $50 million. Gingo said in the release that Schulman "will remain aggressive" in pursuing other acquisitions.

Schulman also earlier this year offered almost $600 million to buy specialty chemicals maker and compounder Ferro Corp. of Mayfield Heights, Ohio, but their offer was rebuffed by Ferro management.

In the first nine months of its 2013 fiscal year, Schulman's sales were up about two percent to almost $1.6 billion. But the firm's profit fell almost 28 percent to less than $30 million when compared to the same period in fiscal 2012. Schulman generates most of its sales from Europe, where economic recovery has lagged.

On Wall Street, Schulman's per-share stock price was just above $28 in early trading Sept. 4. That price is almost 3 percent lower than its Jan. 1 level.


Comments

A. Schulman acquires thermoplastics manufacturer Perrite Group

By Frank Esposito
Senior Staff Reporter

Published: September 3, 2013 8:41 am ET
Updated: September 4, 2013 1:17 pm ET

Post Your Comments


Back to story


More stories

Image

Comar merging with Convergence Packaging

October 21, 2014 5:07 pm ET

A couple of plastic packaging companies owned by private investment firm Graham Partners are merging into a single entity.    More

Image

Celanese buys conductive polymer supplier

October 21, 2014 4:31 pm ET

Materials firm Celanese Corp. has acquired most of the assets of conductive polymers maker Cool Polymers Inc. for an undisclosed price.    More

Image

Report: SVP takes Klöckner Pentaplast off the market

October 21, 2014 4:19 pm ET

Plastic sheet leader Klöckner Pentaplast Group is no longer for sale, according to an Oct. 21 Reuters article.    More

Image

Wisconsin cast film maker buys Ohio blown film specialist

October 21, 2014 2:57 pm ET

A Midwest U.S. acquisition has created a company armed with two distinct film technologies: cast films and coextruded blown film constructions.    More

Image

BASF targets coffee and automotive connoisseurs with new resin grades

October 21, 2014 2:07 pm ET

BASF SE is using polybutylene terephthalate (PBT), which is normally used to manufacture high-end electronics, in a food consumer packaging product.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events