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Lincoln, NE -- Snyder Industries, a leading manufacturer of polyethylene tanks and containers for the storage, transportation and processing of bulk materials, has acquired the Asset Tank divisions of Clawson Container Company.
The Asset Tank divisions include the manufacturing plants to produce both rotationally molded and fabricated steel intermediate bulk containers (IBCs), as well as related rental tank fleets utilized to support similar end markets. Clawson Container Company will retain their blow molded IBC manufacturing plants and related business units, which includes IBC North America and Clean Tide Container.
Intermediate Bulk Containers (IBCs) are portable bulk transportation containers used to handle a variety of liquid, solid and dry materials in a broad range of markets, including agricultural, water treatment, chemical distribution, paints, food and beverage. Headquartered in Lincoln, Nebraska, Snyder Industries is currently the world’s largest manufacturer of rotationally molded polyethylene IBCs, and is credited with some of the market’s leading product innovations.
The Clawson acquisition will expand Snyder’s IBC product offering to include both stainless and carbon steel IBC designs, which will allow the company access to many new markets not presently serviced by their polyethylene product line due to some specific performance limitations in the areas of chemical compatibility, temperature exposure, sterilization, as well as some government regulatory restrictions.
Thomas O’Connell, President and CEO of Snyder Industries, stated, “This acquisition is a good fit with our existing product lines and strategic focus, and provides an entry into traditional steel markets, which will substantially expand our company’s growth opportunities in the greater material handling and storage markets.”
Snyder Industries is a privately owned company with majority interest being held by Cortec Group Fund III, a New York based private equity firm, which invests in middle market manufacturing, distribution, and service businesses.
For more information contact:
Snyder Industries
4700 Fremont Street,
Lincoln, NE 68504
Telephone: (402) 467-5221
Fax: (402) 465-1220
Email: info@snydernet.com
Web site: http://www.snydernet.com/
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