Myers Industries, Inc. has announced that it has signed an agreement to acquire Plasticos Novel S.A.® The transaction is expected to close in July 2012. Novel 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.
President and Chief Executive Officer John C. Orr said, “Novel complements our existing material handling business in Brazil, and has strong ties with industry-leading companies through its reputation for innovation and service. Novel clearly fits our material handling and geographic growth strategy.”
Founded in 1975, Novel has two manufacturing facilities located in the Brazilian states of Bahia and Paraná, covering the major industrial and agribusiness centers of northeastern and southern Brazil. Specializing in injection molded material handling products, Novel is a leader in reusable plastic containers for markets ranging from food and beverage to agriculture. Its industrial safety and traffic products range from safety helmets and ear protection to signs and flooring. With major international companies as its customers, Novel is highly regarded for continuous innovation, quality and service.
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.
Myers Industries, Inc. (NYSE: MYE) is a diversified, international manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets. The Company is also the largest wholesale distributor of tools, equipment and supplies for the tire, wheel and undervehicle service industry in the U.S. The Company reported net sales of $755.7 million in 2011. Visit www.myersindustries.com to learn more, or visit www.facebook.com/myersindustries to connect with the Company’s social community.