A. Schulman, Inc., a leading international supplier of high-performance plastic compounds, powders and resins, announced today plans to create an Accounting and Shared Service Center of Excellence (“SSC”) in Akron, Ohio that will be responsible for back office processes for all U.S. and Canada operations.
“The decision to create this SSC is in line with actions we’ve already successfully implemented in Europe, and will greatly enhance our internal processes and productivity. Additionally, this project will contribute to our Smart Savings initiative in the region,” said Joseph Levanduski, executive vice president and chief financial officer. “This program will foster greater efficiencies, harmonization and enhance service levels to our customers as we fully integrate these functions into one center of excellence.” Plans call for a phased implementation and will impact associates responsible for general accounting, credit, collections, accounts payable and payroll transactions. This plan will also systematically complete the conversion of the remaining non-standard ERP platforms at sites in the United States.
The Company expects this initiative will result in the elimination of approximately 25 headcount throughout the United States partially offset by the addition of approximately 15 headcount at the SSC. Anticipated costs of this action are expected to be approximately $2.5 million over the next 18 months. The SSC is expected to deliver annual savings of approximately $2 million when fully operational in the first half of fiscal 2018, and will benefit the fourth quarter of fiscal 2016 by approximately $0.3 million.
Source: A. Schulman, Inc.
INEOS, Europe’s biggest operator of electrolysis needed to produce clean, low carbon hydrogen, has doubled down on its €2 billion investment in green hydrogen with the launch of a hydrogen advocacy campaign. The campaign kicked off with the publication of a powerful editorial in the Sunday Telegraph on the hydrogen economy written by Sir Jim Ratcliffe, INEOS’s founder and chairman.
Vertellus, a manufacturer of specialty products for consumer goods, food & agriculture, healthcare, and industrial markets, today announced the completion of its acquisition of IM Chemicals. With the addition of IM Chemicals, Vertellus expands its specialty ingredients portfolio into new markets and bolsters its manufacturing capabilities in Europe.
A new collaboration between scientists, engineers, industry and farming experts hopes to demonstrate how clever technology can reduce the powerful greenhouse gases released by livestock to help agriculture reach carbon emissions targets.