Subsequent Events (Notes)

12 Months Ended

Aug. 31, 2013

Subsequent Event [Line Items]

Subsequent Events [Text Block]

NOTE 20 — SUBSEQUENT EVENTS

The Perrite Group Acquisition

On September 2, 2013, the Company acquired the Perrite Group ("Perrite"), a thermoplastics manufacturing business with operations in Malaysia, the United Kingdom and France for $51.3 million, net of cash. Perrite has manufactured and distributed thermoplastic compounds for the electrical, automotive and industrial markets for more than 35 years, offering a broad portfolio of standard and custom compounded polymer products. Perrite employs approximately 220 people among the three facilities. Additionally, Perrite holds leading positions in attractive target markets such as electronics, appliances and niche automotive, and offers well-established and respected brands and global customers while maintaining a strong track record of profitable growth. The acquisition of the Perrite Group provides the opportunity to expand the custom performance colors and engineered plastics business in the APAC region and the manufacturing facility in Malaysia will enhance the Company's ability to serve key customers in the region, as well as globally. Additionally, the acquisition provides an opportunity to leverage the Company's broader portfolio of products through our successful color and niche engineered plastics business in the EMEA region.

Credit Facility

On September 24, 2013 the Company entered into a new $500 million Credit Agreement with certain relationship banks. The agreement consists of a $300 million credit facility and a $200 million term loan, replacing a previous $300 million revolving credit facility which was scheduled to expire in January 2016. The new credit facility includes improved terms and covenants and a 50 basis point interest rate reduction over the previous revolving credit facility and expires in September 2018.