OAKLAND, TENN. (March 8, 5:20 p.m. ET) – Ring Container Technologies Inc. is expanding its blow molding business again, this time through acquisition.
Atlanta-based Bway Corp. announced March 8 that it has an agreement to sell its plastic bottle business to Oakland-based Ring Container.
The deal includes plants and equipment in Indianapolis and Cedar City, Utah, that make blow molded and injection molded products, according to a news release from Bway. The plants will continue to operate.
Terms of the deal were not disclosed. Bway said the business had 2011 sales of about $21 million.
The plants make bottles ranging in size from one gallon to 10 liters, primarily for agricultural and other chemicals products.
Bway plans to focus on its core blow molded tighthead container business.
Ring Container Technologies is a division of Ring Cos., a privately held multinational corporation with 22 locations in the United States and Canada. In recent weeks the company has announced plans to build a new facility in Modesto, Calif., and to invest nearly $8 million in its South Carolina facility.
