ERJ staff report (PN)
Tokyo - After 23 years, A. Schulman Inc. is dissolving Sunprene Co., its thermoplastic elastomer joint venture with Mitsubishi Chemical Corp.
The JV makes TPEs at a plant in Bellevue, Ohio, primarily for automotive applications. In a Nov. 7 news release, officials with Tokyo-based Mitsubishi said that â€œa change in [Schulman's] business strategy...has made Sunprene non-strategic.â€
Officials with Fairlawn, Ohio-based Schulman could not be reached for comment. Mitsubishi officials added in the release that the Sunprene business â€œholds considerable growth potential.â€
Schulman ranks as one of North America's largest makers of plastic compounds and concentrates. The firm recently ended its 2011 fiscal year, during which sales grew 27 percent to almost $2.2 billion.
From Plastics News (A Crain publication)