Injection molder Majors Plastics expands employee stock plan

Published: January 8, 2013 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Injection Molding

OMAHA, NEB. (Jan. 8, 5:25 p.m. ET) — Injection molder and contract manufacturer Majors Plastics Inc. is now employee owned.

Through a recent expansion of Majors’ Employee Stock Ownership Plan (ESOP), the company’s approximately 500 employees now own 100 percent of the company.

The expansion also gives additional Majors’ employees the opportunity to participate in the plan, according to a news release.

Majors, based in Omaha, has been partially ESOP-owned for several years.

There are about 10,000 companies in the United States with ESOPs; about 4,000 of those companies are 100 percent ESOP-owned, according to data from the ESOP Association, a nonprofit advocacy group based in Washington.

Majors officials did not immediately return calls seeking information.

Majors runs 74 injection molding machines and operates three plants — one dedicated to injection molding and overmolding, one for contract manufacturing and assembly, and one for injection molding and clean room molding — plus a distribution center and warehouse on its Omaha campus. The company has a combined 226,000 square-feet of space.

The company had sales of about $62.5 million in 2011, up from $47.6 million the year prior, according to Plastics News’ survey of North American injection molders.

P&M Corporate Finance LLC was financial adviser to Majors.


Comments

Injection molder Majors Plastics expands employee stock plan

Published: January 8, 2013 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Contigo, Avex buy lets Newell Rubbermaid leapfrog new bottle development

July 22, 2014 4:11 pm ET

Newell Rubbermaid Inc. is ready to accelerate its move into the reusable water bottle business with the purchase of two on-the-go drinkware brands.    More

Image

Illinois injection molder expands

July 21, 2014 1:23 pm ET

Automotive supplier All-Rite Industries Inc. has added two new injection molding machines to its operations.    More

Image

Newell Rubbermaid to acquire Contigo brand

July 21, 2014 5:00 pm ET

Consumer products company Newell Rubbermaid Inc. has signed an agreement to acquire Ignite Holdings LLC, owner of the Contigo and Avex brands of...    More

Image

Huhtamäki to evaluate its films business

July 21, 2014 9:52 am ET

Finland-based plastics packaging group, Huhtamäki Oyj, has announced that it is evaluating its options regarding its films business, due to its...    More

Image

Thermoforming Technology Group adds Lyle Industries to its portfolio

July 18, 2014 2:48 pm ET

Thermoforming Technology Group LLC has expanded its thermoforming equipment presence with the acquisition of Lyle Industries Inc.    More

Market Reports

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

Plastics Recycling Market Review & Outlook 2014

This special report from Plastics News examines the North American plastics recycling industry and provides insight into indicators that impact market viability, including Resin pricing trends for virgin and recycled market material and historical Resin production trends for post- consumer and industrial waste.

Learn more

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Upcoming Plastics News Events

September 10, 2014 - September 12, 2014Plastics Caps & Closures 2014

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

More Events