A. Schulman Reduces Production Manpower at Orange, Texas, Dispersion Plant.AKRON, Ohio--(BUSINESS WIRE)--July 2, 1998--A. Schulman Inc. (The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. :SHLM) announced today that it is reducing production at its dispersion dispersion, in chemistry dispersion, in chemistry, mixture in which fine particles of one substance are scattered throughout another substance. A dispersion is classed as a suspension, colloid, or solution. plant in Orange, Texas, by cutting back its seven-day-a-week operations to five days. The cutback cut·back n. 1. A decrease; a curtailment: "The political effects of food cutbacks could be devastating" New York Times. 2. , which takes effect July 13, will result in the layoffs of approximately 25 hourly employees and three salaried employees. Five temporary workers are also being laid off. Prior to this announcement, the dispersion plant had a work force of 144 employees. The plant produces a variety of compounds used in automotive applications and other industries. A. Schulman President and Chief Executive Officer Terry Haines said the reduced production and layoffs are necessary due to weakening sales in the auto industry and a general softening softening /sof·ten·ing/ (sof´en-ing) malacia. softening a change of consistency, with loss of firmness or hardness. of business conditions. The company expects that the reductions in Orange, Texas will not require any significant charges or write-offs. Based in Akron, Ohio Akron is a city in the U.S. state of Ohio and the county seat of Summit County.GR6 The municipality is located in northeastern Ohio on the Cuyahoga River between Cleveland to the north and Canton to the south, approximately 60 miles (96 km) west of , A. Schulman is a leading international supplier of high-performance plastic compounds and resins. These materials are used in a variety of consumer, industrial, automotive and packaging applications. The company employs 2,200 people and has 13 manufacturing facilities in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Mexico and the Asia-Pacific region. Revenues for the fiscal year ended August 31, 1997, were approximately $1 billion.
CONTACT: A. Schulman
Robert A. Stefanko, 330/666-3751
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