A. Schulman Further Realigns Its North American Engineered Plastics Business

A. Schulman, Inc. SHLM announced today the latest in its actions to realign its North American Engineered Plastics business to meet the requirements of the high-value-added compounding market. The Company plans to close its plant in Nashville, Tennessee, and consolidate manufacturing to its remaining North American manufacturing sites. "We have taken several actions over the past few years to replicate our profitable European Engineered Plastics business model in North America by eliminating U.S. commodity capacity and shifting our focus to more profitable technical compounds," said Joseph M. Gingo, Chairman, President and Chief Executive Officer. "This latest step further consolidates the remaining U.S. capacity to our Ohio plants. We will also realign staff support to better reflect the new business model." As a result of the realignment, four production lines at the Nashville facility will be shut down and approximately 60 jobs will be eliminated, including jobs from the Nashville facility and support staff functions.