Subscribe to our free, weekly email newsletter!

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 Modern Materials Handling Staff
July 12, 2012

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!

Recent Entries

To celebrate ALAN's 10-year anniversary and to support ALAN’s disaster relief mission, Amazon helped ALAN with a matching gift fundraiser during a 24-hour period.

The index ISM uses to measure non-manufacturing growth—known as the NMI—came in at 56.9 in September (a level of 50 or higher indicates growth), a 2.1 percent decrease from August’s 59.0, and 3.4 percent off from July’s 60.3, which is its highest reading since January 2008.

Challenges at more than 25 exhibitor booths spanned both Pack Expo and Pharma Expo.

Double-digit growth in international attendance, exhibitors and square footage.

Students from Southern Tier of New York receive education and hands-on experience as part of the event.

© Copyright 2015 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA