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

MHI announced the MHI 2015 Innovation and Young Professional Award winners last night at their 70th Anniversary Celebration during ProMat 2015.

Today marks the conclusion of ProMat 2015, four days of comprehensive problem solving and networking to provide solutions to the complex manufacturing and supply chain challenges faced by industry today.

With a record 155,000 square feet of exhibit space reserved by nearly 350 companies back in December 2014, Modex 2016 will continue the show’s expansion in both solution offerings and popularity.

Doosan (Booth 662) highlighted the new BR18/20SP-7 narrow aisle reach truck, its first product in the class. It also showcased its first engine, which replaced third-party engines and is now used in all Doosan products.

During Wednesday’s afternoon keynote address, Apple co-founder Steve Wozniak, affectionately known as “The Woz,” suggested the future of technology now is every bit as uncertain to him as it was 30 years ago.

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