Pact buys trash bin manufacturer

By Kate Tilley
Correspondent

Published: August 11, 2014 12:05 pm ET
Updated: August 11, 2014 12:09 pm ET

Image By: Sulo (NZ) Ltd. Sulo MGB is the leading molder of two-wheel bins in Australia and New Zealand.

Related to this story

Topics Mergers & Acquisitions, Oceania, Insert molding, Rotomolding

Pact Group Holdings Ltd. is buying the Australian and New Zealand operations of Sulo MGB (Aust.) Pty. Ltd., including its subsidiary Sulo (NZ) Ltd.

Melbourne-based Pact said in a statement to the Australian Stock Exchange it will pay up to A$34.8 million (US$32.2 million), subject to Sulo meeting post-purchase financial targets. Pact is funding the deal through existing debt facilities.

Sulo is Australia and New Zealand’s leading manufacturer of plastic waste and recycling bins — known in Australia as wheelie bins. It produces about 2 million two-wheel mobile garbage bins (MGB) annually for local governments and waste collection companies. Its sales in the year ended June 30 was about A$48 million (US$44.4 million).

Sulo was founded in Germany in 1890 and remained family owned until 2004 when the company was sold to a consortium of investors. The Australian subsidiary was established in 1983. Initially it imported MGBs from Germany before it began manufacturing in Australia.

Sulo has about 90 employees in its Australian and New Zealand operations. Sulo MGB (Aust.) operates a highly automated, large-tonnage injection molding plant at Somersby, 49 miles north of Sydney.

In July 2006 Sulo MGB incorporated a small family owned rotational molding company, Rabbit Plastics. In 2008 it established a rotational molding facility at West Gosford, near the Somersby plant. The West Gosford facility manufactures industrial bin lids, bin enclosures and larger four-wheel bins.

Pact Group CEO Brian Cridland said the Sulo acquisition will complement Pact’s growing sustainability, material-handling and infrastructure division.

Pact Group was established by Chairman Raphael Geminder in June 2002 and has grown significantly through a strategy of buying long-standing, well-established packaging businesses in Australia, New Zealand and Asia. It listed on the Australian Stock Exchange in December 2013, but Geminder’s private company, Geminder Holdings, retains a 40 percent shareholding in Pact.


Comments

Pact buys trash bin manufacturer

By Kate Tilley
Correspondent

Published: August 11, 2014 12:05 pm ET
Updated: August 11, 2014 12:09 pm ET

Post Your Comments


Back to story


More stories

Image

Deal adds U.K. plant to DelStar

November 25, 2014 12:47 pm ET

Schweitzer-Mauduit International Inc. (SWM) is acquiring certain assets from the advanced wound management division of London-based Smith & Nephew...    More

Image

World Plastics Council takes on sustainbility for its initial priorities

November 25, 2014 9:51 am ET

The recently formed World Plastics Council (WPC) has set marine debris and post-consumer recycling and energy recover as its initial top priorities.    More

Image

Onex buying packaging group SIG Combibloc

November 24, 2014 9:05 am ET

ex Corp. will buy SIG Combibloc Group, the Switzerland-based manufacturer of aseptic carton packaging and plastics closures from New Zealand's Rank...    More

Image

AMA Plastics adds presses, changes management structure

November 24, 2014 3:57 pm ET

AMA Plastics Inc. has strengthened its management structure, received recognition for entrepreneurship, achieved quality improvements and added three ...    More

Image

3D Systems buying Cimatron

November 24, 2014 1:46 pm ET

3D Systems Corp. is buying Cimatron Ltd., an Israel-based company that makes integrated computer-assisted design and manufacturing software, for $97 m...    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