• Announces price increases for North American Masterbatch, Engineered Plastics and
Distribution divisions
• Revises payment and shipment terms for Distribution customers
Akron, OH – July 18, 2008 – A. Schulman, Inc. (Nasdaq-GS: SHLM) announced today that it has taken further steps to help offset rapidly rising raw material, energy, transportation and supplier costs in its North American businesses.
The Company will implement price increases of up to 10 percent for products of its Masterbatch division and up to 20 percent for its Engineered Plastics division, effective August 1, 2008, or as contracts allow. These price actions are in addition to the price increases of up to 20 percent that were announced June 13, 2008 for both divisions.
For its Distribution division, A. Schulman also announced price increases of up to 10 percent, effective August 1, 2008, as well as revisions to its payment and shipment terms, effective with shipments of July 15, 2008, or as contracts allow. These changes in terms will not affect customers of the Masterbatch and Engineered Plastics divisions.
“We are doing all we can to alleviate the effects of the continuing and unprecedented increases in raw material, energy and shipping costs, and the subsequent pricing pressure we are seeing from suppliers,” said Joseph M. Gingo, Chairman, President and Chief Executive Officer. “These actions, combined with our ongoing focus to improve productivity and efficiency throughout our global operations, will strengthen our position in the marketplace and enhance our ability to deliver greater value to our customers and stockholders.”
About A. Schulman, Inc.
Headquartered in Akron, Ohio, A. Schulman is a leading international supplier of high-performance plastic compounds and resins. These materials are used in a variety of consumer, industrial, automotive and packaging applications. The Company employs about 2,400 people and has 16 manufacturing facilities in North America and Europe (including Asia). Revenues for the fiscal year ended August 31, 2007, were $1.8 billion. Additional information about A. Schulman can be found at www.aschulman.com.
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