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Schulman to Expand Rotomolding, Masterbatch Businesses with ICO Purchase
9:12 AM MST | December 3, 2009 | Kerri Walsh
A. Schulman has agreed to buy specialty chemicals maker ICO (Houston) for about $191 million in cash and stock to expand its market share in the global rotomolding and masterbatch markets. ICO produces specialty resins and concentrates used in the manufacture of plastic bags and films, household products, toys, water tanks, and other rotational molding applications. Schulman says it will pay $105 million in cash, and offer 5.1 million of common stock for $6.79/share to ICO shareholders. Schulman says it plans to pay the cash portion of the purchase...
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