A Schulman Inc, the US-based supplier of high-performance plastic compounds, powders and resins, has announced plans to establish a new masterbatch production plant in Turkey. This new facility will produce, when fully operational, approximately 40 million pounds of the company's premium additive, white, and breathable masterbatches for food and industrial packaging customers in Turkey and other fast-growing countries in the Middle East and North Africa.
A Schulman plans to lease existing industrial facilities in the greater Istanbul area, which it will convert into a state-of-the-art production plant at a cost projected to be in the Euro 5 million to Euro 7 million range. This new facility is expected to be in production by the end of fiscal 2016.
"By establishing this production plant in Turkey, we simultaneously achieve several strategic priorities. First, through this timely investment, we will be ideally positioned to participate more fully in the accelerating growth occurring throughout Turkey and other countries in the Middle East and North Africa. Likewise, it creates a strategic platform from which we can increase our share in this fast growing market. Furthermore, since we are currently serving our customers in Turkey from plants in Northern Europe, this new facility will allow us to improve service times and utilize capacity in Northern Europe in a more efficient manner,” said Heinrich Lingnau, vice president and general manager (Europe, Middle East & Africa).
A Schulman plans to lease existing industrial facilities in the greater Istanbul area, which it will convert into a state-of-the-art production plant at a cost projected to be in the Euro 5 million to Euro 7 million range. This new facility is expected to be in production by the end of fiscal 2016.
"By establishing this production plant in Turkey, we simultaneously achieve several strategic priorities. First, through this timely investment, we will be ideally positioned to participate more fully in the accelerating growth occurring throughout Turkey and other countries in the Middle East and North Africa. Likewise, it creates a strategic platform from which we can increase our share in this fast growing market. Furthermore, since we are currently serving our customers in Turkey from plants in Northern Europe, this new facility will allow us to improve service times and utilize capacity in Northern Europe in a more efficient manner,” said Heinrich Lingnau, vice president and general manager (Europe, Middle East & Africa).