Schulman is planning a new greenfield US plant

Compounder and masterbatch major A Schulman is planning a new greenfield US plant for its Invision multi layer sheet material in Findlay, Ohio. The new unit will complement the first production line for the material now nearing completion at Schulman’s Sharon Center facility and scheduled for start-up in January. The Invision product is claimed to provide a higher performance and more environmentally friendly alternative to existing sheet materials that require painting. Schulman ceo Terry Haines has predicted that it could become a $1bn business.

News of the investment accompanied the announcement of record breaking sales figures from the group for its fiscal year to the end of August. Sales totalled $1.6bn, up 12.8% from the previous year, and tonnage rose by more than 9%. Net profit for the year, which was affected by a number of exceptionals, amounted to $32.7m.

Schulman’s business in Europe and Asia lifted volumes by almost 15% for the year boosted by a 21% fourth quarter rise in tonnage sold. Akron-based Schulman is the target of New York’s Barington Group, a shareholder activist that has been pressing for more influence over the company’s strategy.