US plastics compounder and distributor A. Schulman (Akron, Ohio; www.aschulman.com) said its fiscal third quarter profits were driven by organic growth, particularly in Europe, plus contributions from recent acquisitions. Net income soared to USD 19.1m (EUR 14.0m) for the third quarter ending 31 May 2014 compared with USD 5.2m for the same period last year. Net sales grew by 18% to USD 645.7m

CEO Joseph Gingo said the results reflect continued demand in the company’s key end markets as well as contributions from acquisitions. “Unlike last year's unusual third quarter, I believe we have returned to our typical historic pattern where our third quarter is the strongest,” he added. The company also announced that it has completed its acquisition of Ferro Corp’s (Cleveland, Ohio / USA; www.ferro.com) speciality plastics business – see Plasteurope.com of 12.06.2014.

In Europe, the Middle East and Africa (EMEA), A. Schulman’s Q3 performance benefited from an improved mix and growing automotive sales, as well as steady growth in other key markets such as packaging, said COO and CEO designate Bernard Rzepka (see Plasteurope.com of 25.06.2014). Sales in the region rose by 14% to USD 413.8m, lifted by the acquisition of UK-based thermoplastics manufacturer Perrite – see Plasteurope.com of 06.09.2013. Gross profits in the region rose by USD 8.1m to USD 56.8m for the three month period.

Rzepka said A. Schulman experienced a similar pattern in the Americas, with strength in the engineered plastics division as a result of acquisitions, plus significant contributions from the speciality powders business. Net sales in the region increased by 19% to USD 181.4m, primarily thanks to the acquisitions of Network Polymers and Prime Colorants – see Plasteurope.com of 09.01.2014. Gross profits were up USD 8.3m at USD 28.3m.

In the Asia Pacific (APAC) segment, net sales rose by 52% to USD 50.5m, helped by the Perrite acquisition. Gross profits rose by 24% to USD 7.1m.