Myers Industries has completed the announced acquisition of Plasticos Novel,Brazil's leading designer and manufacturer of reusable plastic crates and totes,for$27.5m.
Plasticos Novel offers reusable plastic crates and totes used for closed-loop shipping and storage in the region's food and agriculture industries.It also produces a diverse range of plastic industrial safety products.
The company,which has strong relationships to major international companies in its markets,has projected sales of approximately$38m.
The acquisition complements Myers Industries'existing material handling business in Brazil and aligns with its 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,which produces bulk containers and totes for agriculture and manufacturing markets in the region.
Myers Industries is an international manufacturer of polymer products for industrial,agricultural,automotive,commercial and consumer markets.
