A Schulman invests $14m in Saudi Arabia joint venture
A Schulman is moving into Saudi Arabia though a joint venture with state-owned National Petrochemical Industrial (NATPET). Fairlawn-based Schulman is investing about $14m in the joint venture, which will build a polypropylene compounding plant in Yanbu, Saudi Arabia. Construction of the plant and related expenses are expected to total $70m. The plant will use Schulman technology and is expected to open by the end of 2014.