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A. Schulman to buy Citadel Plastics.

A. Schulman, Inc., Fairlawn, Ohio, wilt mark a significant strategic milestone with the acquisition of Citadel Plastics Holdings, Inc., West Chicago, III. The transaction is expected to close in the third quarter. Established in 2007, Citadel quickly became a specialty engineered plastics leader in multiple niche applications, including high-performance structural automotive components, electrical power distribution, downhole oil and gas components, and medical patient transport systems. With 2100 employees, it operates 21 manufacturing facilities throughout the world, including 10 thermoplastic facilities in the U.S. and Canada, and 11 thermoset composite plants around the world.

Bernard Rzepka, Schulman president and CEO, said of the acquisition, "Our thermoplastics business will have enhanced regional scale and efficiencies, as well as further extension into areas such as name retardants and thermoplastic blends. The transaction also enable us to add a second growth platform to our organization with its industry-leading, high-margin thermoset composites business." Citadel's roster of brands includes Aclo, BMC, Fiberfil, Lucent, Matrixx, Premix, QTR, Tetra-Dur, and Quantum.

Since 2010, Schulman has completed nine acquisitions and three joint ventures, the most recent being Ferro Corp.'s specialty plastics and color/additives concentrate maker Prime Colorants. (888) 437-4674 * aschulman.com

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Title Annotation:TECHNOLOGY AND INDUSTRY NEWS: Starting Up
Publication:Plastics Technology
Date:Apr 1, 2015
Words:195
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