Myers Industries Expands Production With Acquisition of Rotational Molding Facility in Georgia
May 12 2022 - 4:01PM
Business Wire
Investment further expands and strengthens
Myers’ rotational molding capabilities
Myers Industries, Inc. (NYSE: MYE) today announced that it is
increasing its production capacities through the acquisition of the
Decatur-based rotational molding manufacturing assets of Step2 Co,
LLC for an undisclosed sum.
This investment comes as Myers continues to expand its
rotational molding capabilities across the United States. Myers’
Material Handling Segment utilizes rotational molding to provide
high-quality, durable products to a broad range of end-markets
including outdoor recreation, construction, vehicle, and industrial
applications. The 41,000 square foot Georgia facility adds
production capacity to support both new and existing customers in
the southern United States.
“The addition of this Decatur rotational molding location
represents another milestone in the execution of our long-term
strategy that is unlocking additional growth and expansion
opportunities to serve our customers,” said Mike McGaugh,
President, and CEO of Myers Industries. “This marks our third
meaningful investment in rotational molding in under two years and
strengthens our position as a valuable partner for our rotational
molding customers within our Material Handling Segment. We look
forward to integrating this location into our Myers footprint and
accelerating our organic growth efforts.”
This expansion demonstrates Myers’ commitment to growing its
customer sales and service range while building a presence in new
markets. This is the latest action taken as part of Horizon 1 of
the Company’s 3-horizon strategy, which is focused on: Self-help,
Organic Growth, and Bolt-on M&A. The expansion follows Myers
acquisitions of Elkhart Plastics and Trilogy Plastics – further
increasing Myers’ market-leading reach as a rotational molder
serving a variety of niche markets.
About Myers Industries
Myers Industries, Inc. is a leading manufacturer of a wide range
of polymer and metal products for industrial, agricultural,
automotive, commercial and consumer markets. The Company is also
the largest distributor of tools, equipment and supplies for the
tire, wheel, and under-vehicle service industry in the U.S. Visit
www.myersindustries.com to learn more.
M-GU
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Monica Vinay Vice President, Investor Relations & Treasurer
(330) 761-6212
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