A. Schulman acquires thermoplastics manufacturer Perrite for $52 million
Mary Page Bailey
A. Schulman, Inc. (Akron, Ohio; www.aschulman.com) has announced the signing of a definitive agreement to acquire The Perrite Group, a thermoplastics manufacturing business with operations in Malaysia, the U.K. and France, for approximately $52 million. The acquisition is expected to increase revenues in A. Schulman’s Asia Pacific (APAC) segment by 35% and will double the size of the company’s existing Engineered Plastics business in the region. Perrite has manufactured and distributed thermoplastic compounds for the electrical, automotive and industrial markets for more than 35 years. Perrite employs approximately 220 people and posted revenues of $140 million during the fiscal year of 2012.