Buying the drum

The German Mauser Group is to buy all the assets of NJ-based Russell-Stanley Holdings, North America’s largest manufacturer of plastic drums and second largest maker of steel drums.

With a staff of 850 employees, Russell-Stanley had a turnover of around $278 dollars in 2004. In addition to ten production sites in the USA, Russell-Stanley operates two plants in Canada.

To facilitate the transaction, Russell-Stanley has filed a voluntary petition for reorganisation under Chapter 11 of the US Bankruptcy Code, together with a pre-packaged Plan of Reorganisation.

Mauser views the acquisition as an opportunity to strengthen its role as the global number two player in the industry.

Currently employing a staff of around 1800, Mauser achieved a turnover of 540 million Euros in 2004.

The company’s largest business is plastic packaging, followed by metal packaging and container systems. Other products and services include reconditioning and machinery.

The deal is expected to close in the autumn this year.