Northwest Indiana Business Magazine

Northwest Indiana’s Leading Regional Business Magazine Since 1991

  • Home
  • Industries
    • Banking
    • Education
    • Health & Wellness
    • Manufacturing & Technology
    • Professional Services
    • Real Estate & Building
    • Small Business & Entrepreneurship
    • Tourism & Recreation
    • Transportation & Logistics
  • Community
    • Around the Region
    • Business News Bits
    • Economic Development
    • Events
    • Leadership
    • Making a Difference
  • Lifestyle
    • Arts & Entertainment
    • Sports
  • Opinion
    • Viewpoint
    • Publisher’s Note
  • Jobs
  • Webinars
  • Magazine
    • Current Issue
    • Past Issues Archive
    • Advertise With Us
    • Business News eNewsletter
    • Subscriptions and Renewals
    • Contributing Writers
    • Editorial and Business Advisory Board
    • Magazine Team
  • About
    • Contact
    • Advertise With Us
    • Subscriptions and Renewals
    • Our History
    • Privacy
    • Terms
  • Log In
You are here: Home / Community / Business News Bits / Myers Industries of Ohio buys South Bend-based Elkhart Plastics Inc.

Myers Industries of Ohio buys South Bend-based Elkhart Plastics Inc.

November 17, 2020 – By Larry Avila Leave a Comment

South Bend-based Elkhart Plastics Inc. has been purchased by Myers Industries Inc. of Akron, Ohio.

Myers Industries in a statement said its purchase of Elkhart Plastics is part of its overall growth strategy.

Founded in 1988, Elkhart manufactures engineered products for the recreational vehicle, marine, agriculture, construction, truck, and other industries.

The combination of Elkhart with Myers’ Ameri-Kart business will create the fifth largest rotational molding business in the U.S., according to Myers Industries.

“We are excited to welcome Elkhart, its president, Jack Welter, and the entire Elkhart team to the Myers family,” said Mike McGaugh, president and CEO of Myers Industries. “Elkhart has a stellar reputation of providing superior service and quality products to its customers, and we look forward to adding it to Myers’ already strong portfolio of brands.”

McGaugh said his company recently launched its new, long-term strategic plan which, in the near term, is focused on strengthening the company through organic growth initiatives, commercial and operational excellence, and pursuing bolt-on acquisitions in plastics molding.

“Elkhart fits perfectly into this plan and helps us take a meaningful step toward our long-term vision,” he said.

Elkhart will operate as a business unit within Myers’ material handling division. Elkhart has six U.S. manufacturing facilities and employs about 460 people.

In 2019, Elkhart’s revenues were approximately $100 million.

The transaction is also expected to generate annual cost synergies of between $4 million and $6 million annually, which are projected to be achieved in the first two years, Myers Industries said.

“We are proud of Elkhart’s long history as a leader in the roto-molding industry, and we look forward to the new opportunities the combination with Myers will bring for our customers, employees and all of our stakeholders,” said Jack Welter, president and CEO of Elkhart Plastics. “We are a good cultural fit with Myers, and we expect a smooth and successful integration of our organizations.”

  • Author
  • Recent Posts
Larry Avila
Follow me
Larry Avila
Larry is an award-winning journalist with more than 25 years of experience working with daily newspapers and business-to-business publications around the Midwest. Avila is a Michigan native and a graduate of Central Michigan University.
Larry Avila
Follow me
Latest posts by Larry Avila (see all)
  • Plymouth among Indiana’s Main Street communities awarded state grant for pandemic recovery - March 1, 2021
  • South Bend – Elkhart Regional Cities Initiative makes funds available for quality of place projects - February 26, 2021
  • South Shore Clean Cities extending service throughout Indiana - February 26, 2021

Filed Under: Business News Bits, Manufacturing Tagged With: Around the Region, business acquisition, Elkhart Plastics Inc., Myers Industries Inc.

Leave a Reply Cancel reply

You must be logged in to post a comment.

Print Issue

February-March 2021

Magazine Articles

In this issue

Around the Region

Track pursuits pay off

Viewpoint: Victory for mass transit

Telemedicine movement

Putting human resources first

Region’s building boom

Boost for buying local

Workforce champion

Ready for next challenge

Launched out of need

It takes an army

Commemorating 30 years

Categories

Archives

  • Home
  • Current Issue
  • Business News Bits
  • Archive
  • Advertise With Us
  • Subscriptions and Renewals
  • Privacy
  • Terms
  • Contact

© Copyright 1991-2021 Linker Media Group, Inc · All Rights Reserved