The 2020 Mid-Year Economic Update_long

Myers Industries to Sell European Material Handling Group

Myers Industries, Inc., Akron, OH, has agreed to sell its European Material Handling Group to the UK-based LINPAC Materials Handling (LMH).


Myers Industries European Material Handling Group is comprised of the Allibert-Buckhorn and raaco brands, which are manufacturers of returnable plastic containers, pallets, and storage systems used across many industries.


John C. Orr, Myers Industries’ president and CEO, said, ‘While the European businesses no longer fit with Myers’ long-term strategic direction, each of the operations and the talented people employed by them provide great potential under new ownership by LMH.’


The intended sale is consistent with Myers Industries’ strategy to divest non-strategic operations, reinvesting in key business segments, and reducing debt. Investments are expected to be in the form of strategic acquisitions, streamlining activities, and upgrading technologies.


‘We will certainly remain focused on strengthening our industry-leading brands and resources in the North American Material Handling Group, ‘ Orr continued. ‘This intended transaction and other initiatives will further position Myers Industries for sustainable, profitable growth. id=bwanpa12>’


Myers Industries, Inc. is a manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. The company is also a wholesale distributor of tools, equipment, and supplies for the tire, wheel, and undervehicle service industry in the U.S. The company reported sales of $903.7 million in 2005.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.