A. SCHULMAN, INC. (SHLM) Files An 8-K Costs Associated with Exit or Disposal Activities
Item 2.05
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Costs Associated with Exit or Disposal Activities
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On November 14, 2016, A. Schulman, Inc. (the Company) committed
to reorganizing the management and certain aspects of the
operating structure of its business segments. In total, the
Company anticipates eliminating approximately 60 positions,
mainly from its middle management ranks, in connection with this
restructuring:
to reorganizing the management and certain aspects of the
operating structure of its business segments. In total, the
Company anticipates eliminating approximately 60 positions,
mainly from its middle management ranks, in connection with this
restructuring:
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EMEA – 42 positions;
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USCAN – 15 positions;
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APAC – 2 positions; and
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LATAM – 1 position.
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There will be no position eliminations from the Companys
Engineered Composites segment.
Engineered Composites segment.
The Company anticipates a total annual pre-tax savings of
approximately $5 million to $6 million will be realized, with a
partial year savings in the fiscal year ending August 31, 2017,
and the full anticipated annual savings commencing in the fiscal
year ending August 31, 2018. Over the next several fiscal
quarters, the Company anticipates recording pre-tax restructuring
charges of $9 million to $11 million for employee termination
benefits and other costs to be paid in cash.
approximately $5 million to $6 million will be realized, with a
partial year savings in the fiscal year ending August 31, 2017,
and the full anticipated annual savings commencing in the fiscal
year ending August 31, 2018. Over the next several fiscal
quarters, the Company anticipates recording pre-tax restructuring
charges of $9 million to $11 million for employee termination
benefits and other costs to be paid in cash.
About A. SCHULMAN, INC. (SHLM)