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2007-06-05 News Release
Plastics products manufacturer to close plants Myers Industries to consolidate plastics production facilities in the Lawn and Garden and North American Material Handling Segments.
The Board of Directors of Myers Industries, Inc. (NYSE: MYE), Akron,
Ohio has approved a plan to consolidate production facilities in the Company’s
Lawn and Garden and North American Material Handling Segments. This consolidation
is part of the Company’s previously discussed operating strategy
and assessment of resources to balance capacity, which will further strengthen
competitiveness in strategic markets. The Company will close one facility in the North American Material Handling Segment in Dawson Springs, Kentucky. This injection molding plant produces plastics reusable hand-held containers. The plant employs approximately 95 people and is expected to close by the end of 2007. Production from the facilities will be transferred to other Myers Industries operations in North America. The Company anticipates that it will make severance and outplacement support available to affected employees. President and Chief Executive Officer John C. Orr said, “The decision
to close any facility is extremely difficult. But to remain competitive
and position the business for the future, it is absolutely critical that
we further consolidate work across our facilities to fully utilize our
highspeed molding capacity, reduce operating costs and achieve greater
efficiency gains.” Myers Industries, Inc. is an international manufacturer of polymer products
for industrial, agricultural, automotive, commercial, and consumer markets.
The Company is also the largest wholesale distributor of tools, equipment,
and supplies for the tire, wheel, and undervehicle service industry in
the U.S. The Company reported record net sales from continuing operations
of Plastics
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