BWay buys ICL pail business
Canadian PlasticsCanadian Plastics
Industrial Containers Ltd. (ICL) in Toronto is selling its plastic and metal pail business to Atlanta, Ga.- based B...
Industrial Containers Ltd. (ICL) in Toronto is selling its plastic and metal pail business to Atlanta, Ga.- based BWay Corp., a manufacturer of steel and plastic containers, the companies announced jointly June 19.
BWay’s chairman and CEO, Jean-Pierre Ergas said the acquisition would further enable the firm to meet its objectives of growing and diversifying its business. BWay is comprised of two divisions: BWay Packaging, which manufactures rigid metal containers at the firm’s headquarters in Atlanta; and Nampac, which manufactures rigid plastic containers in Raleigh, N.C.
Additionally, Ergas said the ICL purchase will expand the firm’s geographic reach enabling it to better serve its customers throughout the continent.ICL operates three pail fabricating facilities in Canada: in St. Albert, Alta.; Brampton, Ont.; and LaSalle, Que. In 2005, the firm derived $70 million revenue from its pail business, with plastic pails representing the majority of sales. The firm plans to hang onto its other business, the manufacturing of steel drums.
The sale is expected to close in July. At that time BWay will acquire all the assets and liabilities of ICL’s plastic and metal pail manufacturing lines. Day-to-day operations are expected to be handled by ICL’s current management team.