Updated: Reusable packaging manufacturer Buckhorn Inc. is closing its Bluffton, Ind., production facility.
Buckhorn's operations will be consolidated into its Springfield, Mo., facility, a company representative confirmed. The business of Akron, Ohio-headquartered Myers Industries Inc. manufactures reusable storage products including bulk containers and plastic pallets.
In a conference call with investors March 9, Myers Industries Chief Financial Officer Matteo Anversa noted sales weakness due in part to a significant decline in demand from the agricultural end market.
Buckhorn's product line includes containers to transport and dispense seed and other granular materials.
Myers is working to reduce the operating footprint of its material handling businesses with a goal of saving $10 million annually, President and CEO David Banyard said on the call. Those changes are expected to be completed in 2017. Other material handling businesses in the Myers family are Akro-Mils, Jamco Products, Scepter, Myers do Brasil and Ameri-Kart.
Myers is seeking new sourcing partnerships for its businesses in a continuing effort to improve efficiency and reduce cost.
“Our goal is to have partners to help us do what we don't need to do internally,” Banyard said.
The company is also in the early stages of evaluating potential M&A targets, looking for businesses with a niche market focus and flexible operations, Banyard said.
Bluffton Mayor Ted Ellis reportedly confirmed to local media that the Bluffton closure would affect approximately 100 employees.
“Our primary focus is on supporting affected employees and their families through this transition,” a Myers representative said in a statement. “We will be providing severance, including benefits continuation and outplacement services to all who are affected.”
Buckhorn established operations in Bluffton in 1995.