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Myers Industries Acquires Best Plastics

30 October 2000

Myers Industries Acquires Best Plastics; Leading Rotational Molder / Thermoformer for the RV Industry

    AKRON, Ohio--Oct. 30, 2000--Myers Industries, Inc. (AMEX:MYE) today announced that it has purchased for cash all outstanding shares of Best Plastics, Inc. of Cassopolis, Michigan.
    A leading manufacturer of rotationally molded and vacuum formed plastic parts for the recreational vehicle (RV) industry, Best will become part of Myers' manufacturing segment. Sales for Best Plastics were approximately $15 million in 1999. Terms of the deal were not disclosed.
    "Best is highly regarded and a natural fit with our existing rotational molding capabilities," said Stephen E. Myers, president and chief executive officer of Myers Industries. "Best complements our Ameri-Kart roto-molded tanks and original equipment parts for the recreational vehicle, transportation, and other industries."
    Melvin and Shirley Stewart founded Best Plastics as family business in 1969. The company quickly advanced to become a major supplier of plastic holding tanks, water tanks, and other custom-molded parts and shapes to the RV and agriculture industries.
    Today, Best's rotationally molded product line includes an extensive range of holding tanks, water tanks, and other parts primarily for the RV industry. Vacuum formed products include holding tanks, fenders, and ground effects for the RV industry, as well as a wide variety of specialty parts for the automotive, industrial, and agriculture industries. All products are made at the company's sales and manufacturing facilities in Cassopolis, Michigan, about five miles north of Elkhart, Indiana -- where nearly half of all RV manufacturing takes place in the United States. Best employs more than 200 people.
    Myers said, "Best has strong customer relationships with original equipment manufacturers, particularly in the RV industry. With the matchup of our capabilities, our customers and markets will benefit from a broader selection of roto-molded and vacuum formed parts from one source."
    The purchase is consistent with Myers Industries' practice of responding to opportunities that broaden the Company's range of products and capabilities, extend reach to new customers, and provide good potential for growth and increased profitability.