Schulman enters joint venture in Saudi Arabia

qiangzi

Tuesday, June 12, 2012

$ U2 y$ Z5 a' c4 w& c7 oAkron, OH - A. Schulman has entered into a joint venture agreement with National Petrochemical Industrial Company (NATPET) of Jeddah, Saudi Arabia (“KSA”), a subsidiary of Alujain Corporation. The 50-50 joint venture, expected to be named NATPET-Schulman Engineering Plastic Compounds, will produce and globally sell polypropylene compounds. The joint venture is planning to build a polypropylene compounding plant in Yanbu, KSA, where it expects to begin production by the end of calendar-year 2014. A. Schulman’s initial equity investment in the relationship is approximately