Key Developments For A. Schulman Inc
A. Schulman Inc (SHLM.O) (Nasdaq)
A. Schulman Inc. Declares Regular Cash Dividend
The Board of Directors of A. Schulman Inc. has declared a regular cash dividend of $0.15 per common share, payable November 2, 2009, to shareholders of record on October 19, 2009.
A. Schulman Inc. Introduces Invision
A. Schulman Inc. announced the introduction of a family of Invision enhanced polyolefin resins for sheet and profile producers. Available globally, the product family consists of high melt strength TPO compounds, and durable olefinic capstock resins. As thermoplastic olefin-based materials, Invision resins provide many benefits in performance, appearance, and processing for sheet and profile extrusion, and thermoforming applications. Furthermore, the resins can be recycled and the regrind incorporated back into the material stream without affecting processing or performance.
A. Schulman Inc. Announces Plans To Reduce Capacity And Headcount
A. Schulman Inc. announced that in keeping with the Company's strategic goal of right-sizing its international facilities, the Company has initiated further plans to reduce capacity and headcount at certain international operations.
A. Schulman Inc. Announces Closing Of Invision Sheet Manufacturing Operation At Sharon Center, Ohio Plant; Expects To Record Charges In Q4 2009
A. Schulman Inc. announced that on June 25, its Board of Directors approved a plan to cease the operation of its Invision sheet production line at its Sharon Center, Ohio manufacturing facility, by the end of the fourth quarter of fiscal year 2009. A total of four positions will be eliminated at the plant related to Invision sheet production. A. Schulman had been seeking a strategic partner or acquirer for its Invision sheet business and identified a select group of interested parties, but could not reach an agreement that was satisfactory to the Company. The Company will continue to offer Invision resins, technologies and services to sheet and thermoforming customers through its North American Engineered Plastics business, but will no longer manufacture Invision sheet. The Company expects to record non-cash charges of approximately $6.0 million to $8.0 million associated with the production equipment for the Invision sheet business and less than $0.1 million in cash charges for termination benefits and other employee costs in the fourth quarter of fiscal 2009.
A. Schulman Inc. Declares Regular Cash Dividend
A. Schulman Inc. announced that its Board of Directors has declared a regular cash dividend of $0.15 per common share, payable August 3, 2009, to shareholders of record on July 20, 2009.
