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Chemical Week Magazine :: Business & Finance :: Europe/Mideast
A. Schulman Strengthens Position in Masterbatches with Acquisition
7:14 AM MST | February 10, 2012 | –Sotirios Frantzanas
A. Schulman says it has reached an agreement to acquire Elian (Oyonnax, France) from polymers maker British Vita (London) for €48 million ($64 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 about $2.5 million by the end of fiscal 2013 due to the acquisition of Elian. The transaction is expected to close by mid-February. Elian has production at Oyonnax and it is a provider of specialty formulated color concentrates to...
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