March 11, 2009 (FinancialWire) -- Spartech Corp.'s (NYSE: SEH) (Current Market Cap: US$46.76 Mil.) board has suspended the company's regular cash dividend. The action is meant to provide Spartech with additional financial flexibility to continue to make investments supporting its financial improvement initiatives and reduce debt.

Company CEO Myles Odaniell said, "Coupled with the decisive actions we have taken to reduce costs, reposition our manufacturing footprint, invest in our infrastructure and enhance revenues, the dividend suspension will help to further our efforts to build a stronger and more competitive Company for our shareholders."

St. Louis-based Spartech is a producer of engineered thermoplastic sheet materials, thermoformed packaging, polymeric compounds and concentrates, and engineered product solutions.

The company has facilities located throughout the United States, Canada, Mexico, and Europe. It posted sales of around $1.4 billion in fiscal 2008.

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