US-based compounding plastics supplier A Schulman is to purchase Network Polymers, a US niche engineered plastics compounding and distribution business, for approximately US$50 million, subject to completion of due diligence. The transaction is anticipated to close within the next few months.

"We have demonstrated a strong commitment at A. Schulman to grow through opportunistic and strategic acquisitions as well as organic growth. Network Polymers is an excellent fit with our ongoing strategy as we continue to enhance our niche engineered plastics business in the U.S.," said Joseph M. Gingo, Chairman, President and Chief Executive Officer, A. Schulman. "Network Polymers will provide greater penetration in key markets such as building and construction, agricultural products, and lawn and garden. It also brings strong technical expertise and a seasoned sales force that will help to leverage existing A. Schulman products.

Network Polymers is a leading single source provider of thermoplastic resins and alloys. The company offers a broad spectrum of custom resins and alloys to meet customer-specific product design and manufacturing requirements. Network Polymers is also the exclusive producer of the Centrex ASA family of products as well as the Diamond Polymer brand of ABS, ABS/PC, ASA and ASA/PC thermoplastic products.

The company operates a 72,000 sq ft manufacturing facility in Akron, Ohio, and employs approximately 70 people. It recorded revenues of US$65.3 million in fiscal 2012.