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A. Schulman Signs Agreement With nanoScience Engineering Corporation To Develop and Market Nanotechnology-Enhanced Polymer Products
Tuesday 10. March 2009 - A. Schulman, Inc. (NASDAQ: SHLM) and nanoScience Engineering Corporation (nanoSEC) announced today that they have entered into a joint development agreement for the purpose of incorporating nanoSEC's nanocomposites in various polymer products produced by A. Schulman.
“We are excited by this opportunity to partner with one of the most innovative developers of advanced nanomaterials,” said Paul Boulier, Vice President and Chief Marketing Officer of A. Schulman. “The agreement combines nanoSEC’s proprietary technologies with A. Schulman’s expertise in the formulation and production of plastic compounds, which will allow us to develop new products to serve a wide range of customer needs. We expect this partnership to accelerate the development of advanced, high-performance materials through our innovation pipeline.” A. Schulman’s technical teams in Europe and the Americas are currently assessing nanotechnology-based products for use in durable goods used in hand tools and transportation applications as well as high-performance agricultural and packaging films.
David Burnett, President of nanoScience Engineering Corporation, stated, “The management group at nanoSEC is very excited about demonstrating the capabilities of nanocomposites developed through our proprietary technology. Further, we are confident that a combination of the technology and the products supplied by A. Schulman will deliver a superior product and improved value to the marketplace.”
The agreement enables A. Schulman and nanoSEC to develop new products and applications for nanocomposites, which are created by introducing very narrow (nano) particles into a matrix of standard material such as a polymer, resulting in dramatic improvements in selected properties. nanoSEC’s technology is specifically designed to improve barrier properties, increase strength, and improve heat and flame resistance of polymers.