A Schulman acquires Australian plastic compound maker Compco

A Schulman Inc, the Ohio-based high-performance plastic compounds and resins manufacture, has acquired the Melbourne (Australia) based plastic compound manufacturer Compco Pty Ltd for $ 6.7 million in cash. Compco is a manufacturer of a variety of plastic compounds and products including masterbatches and custom performance colours which are mainly used in packaging, wire & cable and pipe industries. Compco achieved revenues of nearly $15 million for its fiscal year ending June 30, 2014.
 
Joseph M Gingo, Chairman, President and Chief Executive Officer, A Schulman, stated, "This is our tenth acquisition in the last four years and, although it is relatively small compared with our entire organisation, the benefits of Compco's industry-leading technology will better position our business in the region and can be leveraged throughout our global footprint."
 
"Compco holds a strong position and significant growth potential in the Australian market and beyond, and its products are aligned with our strategic focus and objectives in the Asia Pacific (APAC) region," said Bernard Rzepka, Executive Vice President and Chief Operating Officer of A Schulman.
 
He added, "The acquisition expands the capabilities of our APAC operations and marks our first entry into the growing pipe and highly regulated wire & cable markets. This move is a positive next step as we remain committed to growing both organically and through acquisitions in the strategically important APAC region."