A. Schulman Inc completed its acquisition of Network Polymers Inc. The said transaction was valued at approximately USD49.5 million, according to a report by PR Newswire. The addition of Network Polymers enhances the product offerings of A. Schulman. A wide spectrum of customer-specific resins and alloys has been added to the latter's product portfolio, the report said.
The acquisition deal will also provide A. Schulman with a greater opportunity to penetrate key markets such as construction, lawn and garden, building, and agricultural products, the report said. Moreover, the said deal allows the firm to leverage its existing products and technology to a wider client base, PR Newswire explained.
Joseph M. Gingo, Chief Executive Officer of A. Schulman, said of the transaction, "With this acquisition, we are taking another step to strengthen our U.S. business by expanding our capabilities in niche engineered plastics. We will continue to aggressively pursue acquisitions that are aligned with our global growth strategy to focus on niche products. We welcome everyone at Network Polymers to the A. Schulman team and look forward to their contributions."
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