A. Schulman plans to acquire ECM Plastics, a privately owned, plastics compounder located in Worcester, MA, for $36.5 million. The transaction is expected to close in early September pending the completion of closing requirements.
A plastics compounder since 1996, ECM Plastics provides custom color matching, specialty additive formulations, and plastic compounding for a wide range of markets: consumer goods, cosmetic packaging, automotive, coated fabrics, optical, electronics, bioplastics, geotextiles, sporting goods, toys and novelties, wire and cable, aerospace, and medical devices. The company generates approximately $40 million in annual sales and employs about 140 people.
"With ECM's expertise in custom color matching, higher-value compounding and specialty additive formulations, we believe they are an excellent strategic fit as we continue to focus on niche products," Joseph M. Gingo, Chairman, President and CEO of A. Schulman, stated in the news release. "We expect ECM to provide strong synergies when combined with our current masterbatch and engineered plastics businesses allowing us to strengthen our position for long-term profitable growth in the United States."...