Petrochemicals – Argentina – A Schulman buys majority stake in Surplast for US$1.1mn
US performance plastics company A Schulman (Nasdaq-GS: SHLM) has entered into an agreement to buy a 51% interest in Argentine rotational molding materials maker Surplast for US$1.1mn, the former said in a statement.
The remainder of Surplast is owned by Alta Plastica, one of the largest distributors of resins in Argentina.
“We are the leading supplier of specialty powders in the world and our partnership with Surplast will enhance our ability to provide products for the rotational molding industry throughout South America and better serve our customers in countries such as Chile, Uruguay and Argentina,” said Gustavo Pйrez, A Schulman’s COO for the Americas.
With the acquisition, the company adds to the three facilities it purchased in Brazil through the acquisitions of specialty resins and concentrates producer ICO, and masterbatch additive producer and engineering plastics compounder Mash Compostos Plasticos.
Earlier this year, the firm announced it was adding a fourth manufacturing line to its Mash plant, increasing annual capacity by 8M-10Mlbs (3,630t-4,535t) to 22M-24Mlbs. The line is expected to be operational by November this year.
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