Rotonics Manufacturing Inc. is selling its tank manufacturing division to Norwesco Inc. and Snyder Industries Inc., in a blockbuster move for the rotationally molded tank business.
Rotonics, which is owned by Spell Capital LLC, announced the sale on Aug. 6. Rotonics will keep its custom fuel tank business and other assets.
A Rotonics news release said the company wants to focus on other markets. “The sale of the tank group’s business assets is the result of a strategic assessment to shed non-core assets and leverage Rotonics’ strong market position in its primary...