Myers Industries¸ a diversified, international manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets, has entered into an acquisition agreement with Plasticos Novel, a Brazilian company specializing in injection molded material handling products.
The transaction is anticipated to end in July 2012. Plasticos Novel is a developer and producer of reusable plastic totes and crates that are used for storage and shipping in the rapidly developing food and agriculture sectors. In addition, the company manufactures a wide range of plastic industrial safety solutions.
Plasticos Novel owns two production plants in Paraná and Bahia, Brazil which cover the major agribusiness and industrial centers of southern and northeastern Brazil. The company develops reusable plastic containers for various markets, ranging from beverage and food to agriculture. In addition, it offers traffic and industrial safety products, including safety helmets, ear protection, flooring and signs.
l, President and CEO of Myers Industries, stated that the acquisition of Plasticos Novel complements their existing material handling business in the region. Since the Brazilian company has strong alliances with industry-leading companies, it is an ideal fit for Myers Industries’ material handling and growth strategy, added Orr.
The materials handling division of Myers Industries also include the following businesses: Myers do Brasil in São Paulo, Akro-Mils and Buckhorn in North America. Myers do Brasil manufactures bulk containers and totes for use in Brazilian agriculture and manufacturing sectors, Akro-Mils produces storage systems and plastic bins, while Buckhorn manufactures reusable totes and bulk containers.