Myers Industries completes acquisition of Brazil’s Plasticos Novel

Novel will become part of the company's materials handling segment with Akro-Mils, Buckhorn and Myers do Brasil.

By ·

Myers Industries, Inc. recently announced that it has completed the previously announced acquisition of Brazil’s Plasticos Novel S.A.

The purchase price was $27.5 million, subject to certain adjustments.  Additional terms of the acquisition were not disclosed.

Novel, with projected sales of approximately $38.0 million for 2012, is Brazil’s leading designer and manufacturer of reusable plastic crates and totes used for closed-loop shipping and storage in the region’s fast-growing food and agriculture industries.  Novel also produces a diverse range of plastic industrial safety products.  With strong relationships to major international companies in its markets, Novel complements Myers Industries’ existing materials handling business in Brazil and aligns with the Company’s material handling and geographic growth strategy. 

Novel will become part of Myers Industries’ Material Handling Segment.  Businesses in this segment include North America-based Buckhorn, a leading manufacturer of reusable bulk containers and totes; Akro-Mils, a leader in plastic bins and storage systems; and Myers do Brasil, located in São Paulo state, Brazil, which produces bulk containers and totes for agriculture and manufacturing markets in the region.


Subscribe to Modern Materials Handling Magazine!

Subscribe today. It's FREE!
Find out what the world’s most innovative companies are doing to improve productivity in their plants and distribution centers.
Start your FREE subscription today!

Latest Whitepaper
Download the full 2016 Modern Materials Handling Salary Survey
How does your earning power match up with your peers across the material handling industry? Materials Handling salary survey, Warehouse manager salary survey, Warehouse Salary Research
Download Today!
From the November 2016 Issue
In Whirlpool Corp.’s Clyde, Ohio, factory, mobile robots have automated the delivery of parts to the line. The result is a more consistent, efficient and safer operation.
Optimizing home delivery: It takes more than planning
9th Annual Salary Survey: Success and Satisfaction Continue to Reign
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
2016 Warehouse/DC Operations Webcast: Confronting omni-channel complexity
During this webcast we’ll examine the current activities, trends, and best practices in warehouse and DC operations management and how companies plan to address complex issues associate with omni-channel fulfillment.
Register Today!
EDITORS' PICKS
Systems Report: Whirpool puts mobile robots to work
In Whirlpool Corp.’s Clyde, Ohio, factory, mobile robots have automated the delivery of parts to...
Modern Materials Handling’s 2017 Casebook Collection
The 2017 Casebook features more than 35 case studies that put the spotlight on successful innovation...

Brownells: Designing for Efficiency and Growth
Brownells’ new Iowa distribution center has taken touches—and miles—out of the order...
Industry celebrates National Manufacturing Day
Fourth annual Manufacturing Day is a grassroots effort by U.S. manufacturers to improve the public...