FAIRLAWN, OHIO (July 1, 12:55 p.m. ET) — A. Schulman Inc. has made another investment in South America, this time buying a majority stake in rotational molding materials maker Surplast SA of Buenos Aires, Argentina, for $1.1 million.
Argentine resin distributor Alta Plastics SA owns the remainder of Surplast, officials with Fairlawn-based Schulman said in a June 30 news release. Late last year, Schulman bought Brazilian compounding form Mash Compostos Plastics of São Paulo.
Surplast makes rotational molding powders and employs 23 at a 21,000 square-foot plant.
“We are the leading supplier of specialty powders in the world, and our partnership with Surplast will enhance our ability to provide products for the rotational molding industry throughout South America,” said Gustavo Perez, general manager and chief operating officer of the Americas for Schulman.
Earlier this year, Schulman announced plans to add a new compounding line at its site in Brazil. The new line will increase the site's annual production by 8-10 million pounds. The firm — which ranks as one of North America's largest compounders and concentrate makers - also is expanding specialty powder production at a plant in China, Texas.