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

German molder picks North Carolina for US manufacturing plant

February 26, 2015 4:21 pm ET

UPDATED — German medical goods company Raumedic AG has chosen Mills River, N.C., for its first U.S. manufacturing site and U.S. headquarters.    More

Image

Plastic Omnium makes China investment push

February 26, 2015 4:35 pm ET

Three of the six new plants that automotive molder Plastic Omnium SA plans this year will be in China, part of a broader push it’s making in...    More

Image

Ferro acquires TherMark Holdings for $5.5 million

February 26, 2015 12:15 pm ET

Ferro Corp. said it acquired privately held TherMark Holdings Inc., a laser marking technology company, for $5.5 million in cash.    More

Image

Serbia puts Krušik-Plastika up for sale

February 26, 2015 11:39 am ET

The Serbian Privatization Agency has launched the privatization process for local plastics maker Krušik-Plastika. The agency says it is...    More

Image

3i to sell specialty chemicals company Azelis to Apax Partners

February 26, 2015 11:36 am ET

Azelis Holding SA, the specialty chemicals distributor, is being sold by its private equity owners 3i Group plc to another private investment outfit, ...    More

Market Reports

Flexible Packaging Trends in North America

North America represents about 30 percent of the global consumption of flexible packaging. Annual growth in this region is forecast at 4 percent during the next 5 years.

For more insight on growth opportunities, drivers of growth and the outlook for 2015, download this report.

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

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 billion plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Upcoming Plastics News Events

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

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

More Events