Packaging: Snyder to acquire Rotonics

Snyder Industries, a division of Tank Holding Company and a leading manufacturer of polyethylene and steel material handling products, signed a letter of intent to acquire the ongoing Rotonics Manufacturing facilities located in Bensenville, Ill., and Commerce City, Colo., as well as the marketing and design operations in Indianapolis, Ind.
By Modern Materials Handling Staff
February 29, 2012 - MMH Editorial

Snyder Industries, a division of Tank Holding Company and a leading manufacturer of polyethylene and steel material handling products, signed a letter of intent to acquire the ongoing Rotonics Manufacturing facilities located in Bensenville, Ill., and Commerce City, Colo., as well as the marketing and design operations in Indianapolis, Ind. Rotonics produces a variety of proprietary plastic products, including pallets, material handling bins, marine floatation devices, and medical waste containers.

The details of the proposed transaction are subject to the negotiation and closing of a binding asset purchase agreement, which is expected to be finalized on March 9, 2012. Snyder Industries will then take control of all inventories, accounts receivables, work in progress and ongoing customer delivery requirements for all three locations.

Thomas O’Connell, President and CEO of Snyder Industries, said, “The addition of the Rotonics employees and customers to the Snyder family will provide a stable platform for growth. Rotonics is a good fit with our strategic focus and existing product lines. In addition, Rotonics also provides entry into new markets, which will substantially expand our company’s growth opportunities in the broader material handling industries. As Snyder moves forward it is our objective to provide a smooth transition for Rotonic’s employees and an uninterrupted supply of products and services to our customers.”

Snyder Industries is a subsidiary of Tank Holding Company. Tank Holding Company is privately owned by management and Olympus Partners, a Stamford, Conn., based private
equity firm, specializing in middle market manufacturing, distribution, and service business investments.



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

Transportation & Logistics companies are winning customers and improving profitability by taking a fresh look at their operations. Don't miss this brand new ebook from Barcoding, Inc. and Honeywell, "Automating Transportation and Logistics: How automation and assessment programs are helping T&L companies cut costs, increase cash, and improve customer experience."

After 53 years in Jonesboro, Ark., the company will add new manufacturing capabilities and 75 permanent jobs.

Loscam, Asia Pacific’s leading pallet pooling service provider, recently opened a new depot in Kota Kinabalu, capital city of the state of Sabah Malaysia, further extending its services to East Malaysia.

The PMI, the ISM’s index to measure growth inched up 0.7 percent to 53.5 over May’s 52.8 (a PMI of 50 or greater represents growth). This reading marks sequential growth for the third month in a row.

More than 30 leading suppliers of reusable products and services will be available in the Reusable Packaging Pavilion. The exhibitors include manufacturers, material suppliers, providers of washing and other specialty equipment, and service providers of reusable packaging systems and solutions.

Article Topics

News · Packaging · Pallets · Snyder Industries · All topics

Comments

Post a comment
Commenting is not available in this channel entry.


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