AKRON, Ohio, Oct. 22, 2014 /PRNewswire/ -- A. Schulman, Inc. (Nasdaq-GS: SHLM) announced today actions to optimize the Company's back office and support functions in Europe, Middle East and Africa ("EMEA") to better align its operations with current market conditions in the region.

During the first half of fiscal 2015, A. Schulman plans to reduce headcount in EMEA by approximately 40 employees, with the majority of reductions expected to be in the areas of back office and support functions.

The Company anticipates the total annual pre-tax benefit to be approximately $4 million, and it expects to record related charges of approximately $10 million, primarily in the first half of fiscal 2015. There were no charges recorded during the fiscal year ended August 31, 2014, related to this plan.

"As part of A. Schulman's Safety, Smart Sales and Smart Savings program, we continually evaluate and refine how to best serve our customer base, and we believe that a more efficient and aligned organization will foster harmonization and improve productivity," said Heinrich Lingnau, Vice President and General Manager, EMEA. "While these reductions are never easy, this latest step will support profitable growth in the region and for the Company overall."

Bernard Rzepka, Executive Vice President and Chief Operating Officer of A. Schulman, said, "While we are disappointed with the current economic conditions in Europe, we have an experienced team in place and have always taken proactive steps when required as we did in fiscal 2012 and 2013. During that time period, we generated approximately $8 million in savings from restructuring and optimization efforts in Europe."

The Company expects to announce its 2014 fourth-quarter and full-year results on Wednesday, October 22, 2014, after the market closes, and will hold its fiscal 2014 fourth-quarter earnings conference call on Thursday, October 23, at 10 a.m. Eastern time.

About A. Schulman, Inc.

A. Schulman, Inc. is a leading international supplier of high-performance plastic compounds and resins headquartered in Akron, Ohio. Since 1928, the Company has been providing innovative solutions to meet its customers' demanding requirements. The Company's customers span a wide range of markets such as packaging, mobility, building & construction, electronics & electrical, agriculture, personal care & hygiene, sports, leisure & home, custom services and others. The Company employs approximately 3,900 people and has 42 manufacturing facilities globally. A. Schulman reported net sales of $2.1 billion for the fiscal year ended August 31, 2013. Additional information about A. Schulman can be found at www.aschulman.com.

Cautionary Statements

A number of the matters discussed in this document that are not historical or current facts deal with potential future circumstances and developments and may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historic or current facts and relate to future events and expectations. Forward-looking statements contain such words as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe," and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which management is unable to predict or control, that may cause actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking statements. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements, and that could adversely affect the Company's future financial performance, include, but are not limited to, the following:


    --  worldwide and regional economic, business and political conditions,
        including continuing economic uncertainties in some or all of the
        Company's major product markets or countries where the Company has
        operations;
    --  the effectiveness of the Company's efforts to improve operating margins
        through sales growth, price increases, productivity gains, and improved
        purchasing techniques;
    --  competitive factors, including intense price competition;
    --  fluctuations in the value of currencies in areas where the Company
        operates;
    --  volatility of prices and availability of the supply of energy and raw
        materials that are critical to the manufacture of the Company's
        products, particularly plastic resins derived from oil and natural gas;
    --  changes in customer demand and requirements;
    --  effectiveness of the Company to achieve the level of cost savings,
        productivity improvements, growth and other benefits anticipated from
        acquisitions, joint ventures and restructuring initiatives;
    --  escalation in the cost of providing employee health care;
    --  uncertainties regarding the resolution of pending and future litigation
        and other claims;
    --  the performance of the global automotive market as well as other markets
        served;
    --  further adverse changes in economic or industry conditions, including
        global supply and demand conditions and prices for products; and
    --  operating problems with our information systems as a result of system
        security failures such as viruses, computer "hackers" or other causes.

The risks and uncertainties identified above are not the only risks the Company faces. Additional risk factors that could affect the Company's performance are set forth in the Company's Annual Report on Form 10-K for the fiscal year ended August 31, 2013. In addition, risks and uncertainties not presently known to the Company or that it believes to be immaterial also may adversely affect the Company. Should any known or unknown risks or uncertainties develop into actual events, or underlying assumptions prove inaccurate, these developments could have material adverse effects on the Company's business, financial condition and results of operations.

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SOURCE A. Schulman, Inc.