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2007-06-05 News Release

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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 consolidation impacts three facilities in total, consisting of the following:

The Company will close two facilities in the Lawn and Garden Segment, including the Kord products plants in Brampton, Ontario, and Lugoff, South Carolina. These facilities, which were part of the Company’s acquisition of ITML Horticultural Products in January 2007, produce plastics nursery containers, specialty retail horticultural products, and custom plastics products. The plants employ approximately 170 and 72 people, respectively, and are expected to close by the end of 2007.

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 expects to incur total costs of approximately $8.4 million before tax in connection with the consolidation actions announced.

As part of its “Strategic Business Evolution” plan, the Company will continue to evaluate its four, core business segments to ensure competitive positioning and value generation for all stakeholders. Management remains focused on identifying and executing both internal and external initiatives that will drive sustainable, profitable growth.

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
$780.0 million in 2006. Visit and learn more (www.myersind.com).

Read a recent press release about - Highly transparent polycarbonate plastics film blend, using Film Insert Molding technology, enhances attractive and decorative waterproof shaver.

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