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

Large part molder EnviroTech in 'growth mode,' adds space, equipment

November 26, 2014 9:54 am ET

Salt Lake City-based EnviroTech Molded Products Inc. is adding new equipment and expanding its factory as it gains business in some of its...    More

Image

Huhtamäki selling film division

November 26, 2014 2:10 pm ET

Private equity firm Deutsche Beteiligungs AG (DBAG) will acquire the film business of Finland-based plastics packaging group Huhtamäki Oyj for 141...    More

Image

Visteon in talks to sell its stake in Halla Visteon Climate Control JV

November 26, 2014 9:07 am ET

Visteon Corp. confirmed this morning that it is in discussions with a private equity firm to sell its stake in South Korean joint venture Halla...    More

Image

Globalization brings sizable growth, primarily in Asia

November 25, 2014 1:40 pm ET

In 1990, the year after Plastics News published our first issue, there were 33,000 injection molding machines sold worldwide. Fast forward to 2013,...    More

Image

Uni Cap to build cap molding plant in Jordan

November 25, 2014 12:57 pm ET

The Persian Gulf's largest molder of caps and closures is investing $10 million in a new factory near Amman, Jordan, as part of an effort to boost its...    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