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People & Business :: Companies

Schulman Accelerates Restructuring Amid Proxy Fight

12:54 PM MST | January 14, 2008 | Nancy Seewald

Schulman says it will accelerate its ongoing restructuring efforts aimed at “dramatically” improving profitability and earnings growth. The announcement comes amid accusations by a shareholder group that a “misguided growth strategy” is dragging down company profits. Schulman says it took several steps during fiscal 2007 to improve profits in North America, including capacity and workforce reductions. Further actions include a potential restructuring of its North American manufacturing facilities, as well as suspension of further capital...

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