AKRON, Ohio, July 5, 2016 /PRNewswire/ -- A. Schulman Inc. (Nasdaq-GS: SHLM), a leading international supplier of high-performance plastic compounds, powders, composites and resins, today announced that it is expanding its presence for masterbatch on the African continent through a strategic partnership with Snetor Chimie, headquartered in Courbevoie Cedex, France.
As of May 2016, A. Schulman has appointed Snetor Chimie, the leader of plastics distribution in the region, as its privileged partner to commercialize its complete range of white, black and colored masterbatches and additives. The commercial activities will be focused exclusively on countries and partners which comply with U.S. and EU trade restrictions and laws.
With an average GDP of 5 percent and an improved political situation, Africa has become an attractive continent for investors. A. Schulman has already partnered with direct customers in the area and this further solidifies its presence through the partnership with Snetor Chimie which has numerous offices and warehouses in various African countries. Snetor Chimie is, with over 35 years of experience in distribution on the African continent, one of the leaders in the area.
"The partnership with Snetor Chimie is a strategic move for us and a clear commitment to our African customers," stated Heinrich Lingnau, SVP & General Manager of A. Schulman – Europe, Middle East and Africa. "The continent is very dynamic, especially for masterbatch. It is paramount for us to be well represented in this market. With Snetor Chimie being one of the market leaders in this region, we are accelerating our market penetration," he concluded.
About A. Schulman, Inc.
A. Schulman, Inc. is a leading international supplier of high-performance plastic compounds and resins headquartered in Akron, Ohio. Since 1928, the Company has been providing innovative solutions to meet its customers' demanding requirements. The Company's customers span a wide range of markets such as packaging, mobility, building & construction, electronics & electrical, agriculture, personal care & hygiene, sports, leisure & home, custom services and others. The Company employs approximately 5,000 people and has 57 manufacturing facilities globally. A. Schulman reported net sales of approximately $2.4 billion for the fiscal year ended August 31, 2015. Additional information about A. Schulman can be found at www.aschulman.com.
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SOURCE A. Schulman, Inc.