Scepter buys former Blitz fuel can plant

By Michael Lauzon
Correspondent

Published: October 11, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Blow Molding

TORONTO (Oct. 11, 3:15 p.m. ET) — A rival plans to revitalize the operations of defunct plastic fuel can molder Blitz USA Inc., which was once the largest such producer in the United States.

Scepter Holdings Inc. of Toronto said it has bought Blitz assets, including the land, buildings and machinery in Miami, Okla., for an undisclosed amount, effective Sept. 28.

“Our immediate goal is to try to address the current void in the portable fuel container market place brought about by the forced bankruptcy of Blitz,” Scepter President Robert Torokvei said in a Sept. 28 news release.

Scepter said it wants to make a viable export business based in the Miami location and to broaden the operation’s product line to use its excess capacity and technology.

Blitz closed its doors in July after unsuccessfully trying to reorganize under Chapter 11 of the U.S. Bankruptcy Code. Prior to the closure, Blitz sold its F3Brands LLC business of oil drains and related vehicle products in a bankruptcy auction sale to Hopkins Manufacturing Corp. of Emporia, Kan.

Blitz was inundated with lawsuits alleging injuries during use of its fuel containers. The firm could not financially protect itself from the numerous lawsuits.

Torokvei said the high number of suits in the United States is a concern.

“It’s something we have not witnessed in any other country we sell to around the world,” Torokvei said in the release.

Scepter said it will address future concerns by manufacturing containers that meet or exceed U.S. and international standards.

“Everyone needs to realize that gasoline must be handled in a safe manner, at all times,” he said.

The Portable Fuel Container Manufacturers Association has called for Congressional intervention to stabilize the business environment for plastic fuel containers. PFCMA is based in Sacramento, Calif.

Scepter plans to reopen the Miami operation in early 2013.

“We want a presence in the U.S. and Miami is centrally located with an excellent work force,” Torokvei explained.

The Miami business will run as a separate entity under the Scepter Manufacturing LLC name.

Scepter claims to be a major producer of fuel cans for the retail market and says it is the sole supplier of portable fuel containers to the U.S. military. It also says its supplies 90 percent of the international OEM market for remote portable outboard engine fuel tanks.


Comments

Scepter buys former Blitz fuel can plant

By Michael Lauzon
Correspondent

Published: October 11, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Netstal, Electra Form team up for PET preform partnership

November 20, 2014 3:15 pm ET

The Netstal division of Krauss-Maffei Corp. is teaming up with Electra Form Industries in a partnership to offer PET preform machines and molds as a...    More

Image

Coveris changes culture, eyes IPO

November 20, 2014 1:40 pm ET

CEO Gary Masse has a simple message, and some new math, for everyone at Coveris Holdings Corp. Get on board or get out of the way.    More

Image

Total to buy majority stake in Polyblend

November 20, 2014 10:04 am ET

French oil and gas giant Total SA will buy a 68 percent stake in Germany's Polyblend GmbH, a subsidiary of Polymer-Chemie GmbH.    More

Image

Cy Plastics invests in machinery, space

November 19, 2014 2:17 pm ET

Seeking a more efficient configuration, custom molder Cy Plastics Inc. invested over $500,000 in the past year, adding more machinery including a 350-...    More

Image

Private equity fuels acquisition market

November 18, 2014 11:52 am ET

Plastics firms and outside investors with money to spend increasingly have done so in the plastics industry for the last quarter-century — and p...    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events