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Acquisition Strengthens A. Schulman's Position in European Masterbatch Market

8:56 AM MST | January 31, 2012 | Sotirios Frantzanas

A. Schulman says it has reached an agreement to acquire Elian (Oyonnax, France) from British Vita for €48 million ($63 million) in cash. Elian is a leader in the production of specialized color masterbatch products. A. Schulman's overall costs of production are expected to be reduced annually by approximately $2.5 million to the end of fiscal 2013 due to the acquisition of Elian. The transaction is expected to close in early February 2012.  Elian has production at Oyonnax and it is a provider of specialty formulated color concentrates to end-markets...

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