Plastic Commodity (24)Troy, Mich. – September 25, 2008 – Inteva Products, LLC and A. Schulman, Inc. (Nasdaq-GS: SHLM) announced today a licensing agreement to provide automotive manufacturers with an industry-leading technology for use in the interior manufacturing process. Inteva’s recently developed technology, a thermoplastic elastomer (TPE) blend, will provide automakers with a high-quality, durable and environmentally friendly alternative material.
“Working with A. Schulman provides opportunity to manufacture and distribute a common, reliable material to OEMs throughout the industry,” said Lon Offenbacher, Inteva president & CEO. “Our TPE blend will give automakers a real advantage for their automotive interiors by providing an innovative material that can be utilized across a multitude of vehicle platforms.”
“A. Schulman is excited about the opportunity to provide TPE that is specially formulated for this process, and to partner with Inteva in bringing this new technology to the marketplace worldwide,” said Joseph M. Gingo, chairman, president and CEO at A. Schulman. “This technology will be a new addition to our Invision® family of TPE products, and adds another innovative solution to help our customers provide industryleading interiors.”
For decades, the automotive industry has produced instrument and door panels through the process of slush-molding. Originally developed for polyvinyl chloride (PVC) based materials, slush-molding produces skins that conform to tight angles and rich detail for vehicle interior surfaces. Recently, shortfalls in PVC performance have led to a high demand for non-PVC slush-moldable materials. In response to this need for more quality, safety and flexibility, and automakers’ increased focus on the interior, Inteva has worked for four years on the development of leading alternative interior materials to this family of TPE blends.
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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