CRAIN'S CLEVELAND BUSINESS
Published: September 2, 2014 11:13 am ET
Updated: September 2, 2014 11:18 am ET
Image By: A. Schulman Inc.
Joseph Gingo
Akron, Ohio-based A. Schulman Inc., a supplier of high-performance plastic compounds and resins, said it has acquired a company near Melbourne, Australia, for $6.7 million in cash.
The acquired company, Compco Pty. Ltd., makes plastic compounds and products including cross-linked high density polyethylene, masterbatches and custom performance colors. Key markets include packaging, wire and cable, and pipe, Schulman said in a release. Compco posted revenues of nearly $15 million for its fiscal year that ended June 30.
Joseph M. Gingo, chairman, president and CEO of Schulman, said Compco marks the company’s 10th acquisition in the last four years.
“Although it is relatively small compared with our entire organization, the benefits of Compco's industry-leading technology will better position our business in the region and can be leveraged throughout our global footprint,” Gingo said in the release.
Bernard Rzepka, executive vice president and chief operating officer of Schulman, said 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 region.” | 
