A. Schulman Inc. (SHLM) announced further restructuring plans in its Europe, Middle East and Africa or EMEA region, due to the economic climate in Europe. As part of this restructuring, the EMEA regional team plans to reduce headcount. The company expects that the further restructuring will generate about $4 million in annual run rate savings.
"Given the ongoing poor economic environment in Europe, we felt it was necessary to continue our current restructuring efforts and expense reductions to better align with market demand. Since 2010, we have executed a series of cost reduction programs in Europe. Over the past three years, these actions have provided more than $6 million in annual run rate savings, and the additional actions we are announcing today are expected to bring that total to approximately $10 million," said Bernard Rzepka, Executive Vice President and Chief Operating Officer of A. Schulman.
In addition, the company announced that it intends to sell its rotational compounding business in Brisbane, Australia. The company noted that it plans to engage a financial advisor to assist in selling the business and expects to complete a sale within six to 12 months. This Australian business recorded revenue of approximately $25 million for fiscal 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.