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Schulman to Close Ontario Compounding Plant; Seeks Buyer for Texas Site

12:52 PM MST | February 19, 2008 | Nancy Seewald

A.Schulman says it will close its 74-million lbs/year engineered plastics compounding plant at St. Thomas, ON and pursue a buyer for its 135-million lbs/year Orange, TX toll compounding facility. The moves are aimed at improving profitability of the company’s North American operations, and are part of its “100-day plan” to accelerate restructuring efforts aimed at “dramatically” improving profitability and earnings growth (CW, Jan. 7/14, p. 11). Schulman says that production related to “low-margin business” at St. Thomas...

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