The transaction is expected to close on 3 November 2010, pending customary closing procedures.
“Brazil is a highly attractive market for A Schulman and is very important to our growth strategy,” said Joseph M Gingo, chairman, president and CEO of A Schulman. “It’s a large, diversified market with strong macroeconomic fundamentals. The Brazilian plastics industry holds significant growth potential because per-capita consumption of plastic is still much lower than in other countries. With this acquisition, and with our 30 April 2010 acquisition of ICO Inc, which included two facilities in Brazil, we’re aggressively expanding our presence in that market and enhancing our ability to serve customers.”
Target synergies from the Mash acquisition are expected to result from improving working capital management and leveraging A Schulman’s global purchasing power.
Source: A Schulman Inc
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