Myers Industries Reviewing Strategic Options for Automotive and Custom Segment Businesses
AKRON, Ohio--Myers Industries, Inc. today announced that it is reviewing strategic options to better align certain businesses in its Automotive and Custom Segment with the Company’s long-term performance and growth strategies. The Company said that a wide range of options are under consideration, from further internal restructuring to the potential sale of four businesses in the segment – Ameri-Kart™, Buckhorn Rubber Products®, Michigan Rubber Products™ and WEK Industries™.
President and Chief Executive Officer John C. Orr, said, “We are clearly focused on taking advantage of every opportunity to optimize the Company’s overall performance and increase value for shareholders.”
With a focus on original equipment products, the four businesses benefit from deep engineering and advanced custom-molding capabilities to produce a diverse range of plastic and rubber products. Operations at these businesses will continue as usual during the Company’s review process. The Company will provide more details regarding potential initiatives once the review is finalized.