03 July 2012 20:40 [Source: ICIS news]
MEDELLIN, Colombia (ICIS)--US-based polymer producer Myers Industries is acquiring Brazilian reusable plastics firm Plasticos Novel for an undisclosed sum, Myers said on Tuesday.
Novel, founded in 1975, makes reusable plastic crates and totes for shipping and storage in Brazil’s food and agriculture industries, Myers said.
The company also makes plastic industrial safety products such as safety helmets, ear protection, traffic control signs and signals, said Myers.
Novel has two plants in the states of Bahia and Parana.
“Novel complements our existing material handling business in Brazil, and has strong ties with industry-leading companies through its reputation for innovation and service,” said Myers CEO John Orr.
The acquisition will provide Myers with opportunities for converting wood container applications to eco-friendly and efficient plastic returnables, the company said.
Novel will become part of Myers’ Material Handling Segment, which includes US-based plastics businesses Buckhorn and Akro-Mils, the company said.
The acquisition is expected to close this month, the company said.
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