Sector News

/PRNewswire/ – A. Schulman, Inc. (Nasdaq: SHLM), a leading international supplier of high-performance plastic compounds, powders and resins, announced today plans to move its EMEA (“Europe, Middle East, and Africa”) shared service center to Poznan, Poland from Londerzeel, Belgium. Plans call for this phased relocation to be completed by May 2016. The Company anticipates the cost of this action to be approximately €7 million over the next 12 months and is expected to generate annual savings of approximately €5 million by fiscal 2017, when fully implemented.

 

“The decision to relocate our shared service center is in line with our ongoing cost control initiatives and our strategy to prudently and proactively manage the business by better balancing market trends and macroeconomic conditions,” said Heinrich Lingnau, vice president and general manager, EMEA. “This organizational realignment decision was made after several months of careful consultation and a close examination of all alternatives. This action will enable us to enhance service levels to our customers and improve our cost structure; however, we understand that this decision will impact our teams and we are working diligently to support the transition of associates directly affected by this strategic decision.”

 

“Our operations in Poland are strong and growing. This action will not only benefit the region but will help to further develop our team in the country and leverage our previous success,” stated Isabel Casimiro, finance director, EMEA. 

 

Source: A. Schulman, Inc.