A. Schulman Names Derek Bristow as General Manager and Chief Operating Officer of Asia
AKRON, Ohio, Aug. 17 /PRNewswire-FirstCall/ -- A. Schulman, Inc. (Nasdaq-GS: SHLM) announced today that it has named Derek Bristow as General Manager and Chief Operating Officer of Asia, effective September 1, 2010. In his new role, Bristow will lead the Company's strategy and business development in this high-growth region and will report to Joseph M. Gingo, Chairman, President and Chief Executive Officer.
(Photo: http://www.newscom.com/cgi-bin/prnh/20100817/CL51499 )
(Photo: http://photos.prnewswire.com/prnh/20100817/CL51499 )
Bristow formerly was General Manager, of ICO Australasia, for ICO, Inc., which was acquired by A. Schulman on April 30, 2010. Bristow has 25 years of experience in the global polymer industry.
"Derek's accomplishments at ICO have been impressive, as he helped restore its European business to profitability and expanded it to become approximately 45% of ICO's global business," Gingo said. "We look forward to his continuing contributions to A. Schulman as we work to strengthen our market position in the high-growth Asia region."
Bristow joined ICO in 1998 as Operations Manager, Asia Pacific, and served as Director, South Europe from 2003 to 2004, and President, Europe from 2004 to 2008, before becoming President, Europe and Asia in July 2008. Prior to joining ICO, he was a research and development manager, technical manager and polymer chemist for a variety of chemical companies from 1985 to 1998.
He received an MBA degree from Deakin University, Australia, a post-bachelor's degree in polymer engineering from the University of Stellenbosch, South Africa, and a bachelor's degree in chemistry from Natal University, South Africa.
Bristow replaces Jack Taylor, former General Manager, Asia for A. Schulman, who is retiring at the end of the year, after 32 years with the Company. "We thank Jack for his many years of service in helping to build our market-leading masterbatch business in Europe and Asia, as well as helping to position A. Schulman as a profitable global business. We wish him all the best in his retirement," Gingo said. Taylor will remain a consultant to the Company and will assist Bristow in combining ICO's and A. Schulman's Asian businesses.
About A. Schulman, Inc.
Headquartered in Akron, Ohio, 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 about 2,900 people and has 37 manufacturing facilities in North America, South America, Europe and Asia. On April 30, 2010, the Company completed its acquisition of ICO, Inc., a global manufacturer of specialty resins and concentrates for rotomolding and a provider of specialty polymer services. A. Schulman reported revenues of $1.3 billion for the fiscal year ended August 31, 2009, and ICO reported revenues of $300 million for the fiscal year ended September 30, 2009. Additional information about A. Schulman can be found at www.aschulman.com.
Cautionary Note on Forward-Looking Statements
A number of the matters discussed in this document that are not historical or current facts deal with potential future circumstances and developments and may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historic or current facts and relate to future events and expectations. Forward-looking statements contain such words as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which management is unable to predict or control, that may cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements, and that could adversely affect the Company's future financial performance, include, but are not limited to, the following:
- worldwide and regional economic, business and political conditions, including continuing economic uncertainties in some or all of the Company's major product markets;
- the effectiveness of the Company's efforts to improve operating margins through sales growth, price increases, productivity gains, and improved purchasing techniques;
- competitive factors, including intense price competition;
- fluctuations in the value of currencies in major areas where the Company operates;
- volatility of prices and availability of the supply of energy and raw materials that are critical to the manufacture of the Company's products, particularly plastic resins derived from oil and natural gas;
- changes in customer demand and requirements;
- effectiveness of the Company to achieve the level of cost savings, productivity improvements, growth and other benefits anticipated from acquisitions and restructuring initiatives;
- escalation in the cost of providing employee health care;
- uncertainties regarding the resolution of pending and future litigation and other claims;
- the performance of the North American auto market; and
- further adverse changes in economic or industry conditions, including global supply and demand conditions and prices for products.
The risks and uncertainties identified above are not the only risks the Company faces. Additional risk factors that could affect the Company's performance are set forth in the Company's Annual Report on Form 10-K and the most recent Form 10-Q. In addition, risks and uncertainties not presently known to the Company or that it believes to be immaterial also may adversely affect the Company. Should any known or unknown risks or uncertainties develop into actual events, or underlying assumptions prove inaccurate, these developments could have material adverse effects on the Company's business, financial condition and results of operations. This document contains time-sensitive information that reflects management's best analysis only as of the date of this document. The Company does not undertake an obligation to publicly update or revise any forward-looking statements to reflect new events, information or circumstances, or otherwise. Further information concerning issues that could materially affect financial performance related to forward-looking statements can be found in the Company's periodic filings with the Securities and Exchange Commission.
SHLM_ALL
SOURCE A. Schulman, Inc.
Share this article