A Schulman acquire Elian from British Vita
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A Schulman to acquire Elian from British Vita

1:55 AM, 1st February 2012
A Schulman to acquire Elian from British Vita
Joseph M Gingo, Chairman, President and CEO, A Schulman.

AKRON, US: A Schulman announced that it entered into a definitive agreement to purchase Elian SAS, a French portfolio company of British Vita plc, for approximately €48 million. Elian is a leading producer of highly specialized colour masterbatch products. The transaction is expected to generate approximately $2.5 million of annual run rate synergies to be realized by the end of fiscal year 2013. The transaction is anticipated to close in early February 2012.

“The acquisition of Elian will move us into the number-three position in France’s colour masterbatch market. Our strategic goal is to become the leading global manufacturer of masterbatch and we will continue to seek out global opportunistic acquisitions that will diversify our end markets and provide profitable long-term growth to our shareholders,” said Joseph M Gingo, Chairman, President and CEO, A Schulman.

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