US Schulman close its masterbatches and additives plant

US Schulman Group is to close its factory in Ohio masterbatches and additives, which won this plant in the Ferro Corporation acquired earlier this year.

  This will be shut down by 70 employees of the plant in April, its production operations will be relocated to other plants in North America Shulman.

  North American demand for materials remained strong, but the company in the past three years through the acquisition adds seven factories. Therefore, the company believes that it is necessary to examine these plant location and capacity utilization.

  "It was a tough decision, but shows that our long-term commitment, reasonable streamlined to better serve our global customers," CEO Bernard Rzepka, said.

  Schulman will cut 10 administrative positions in North America.

  Related to plant closures and job cuts will generate $ 3 million in expenses in the first quarter of fiscal year 2015. These initiatives are expected to save the company $ 4 million a year.