Merger

Shareholders of Northeast Ohio manufacturer A. Schulman are set to vote on a merger with LyondellBasell  tomorrow.

LyondellBasell is the world’s seventh largest manufacturer of chemicals. Schulman, based in Fairlawn, makes plastics and resins. The two industries are looking to reduce cost and take advantage of a broader market.

Kent State professor Asli Arikan says this could mean a loss of local jobs.

DIEBOLD HQ
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A year ago, northeast Ohio’s Diebold took over Germany’s Wincor Nixdorf. It created the world’s second largest ATM/banking technologies maker.  The new company has lost money since then, including $30 million last quarter.

Diebold-Nixdorf CEO Andy Mattes say the merger process itself was a factor. Legal expenses, regulatory delays and reconciling operations cost more than expected.

Richard Parsons
Richard Parsons / Linkedin

A national banking analyst with ties to Northeast Ohio, says the merger of regional powerhouses Huntington Bank and FirstMerit is catching industry-wide attention.  

Rick Parsons grew up in Avon Lake before 30-plus years in banking that took him to an executive vice