Myers Industries, Inc. (NYSE: MYE) today announced that it has completed the previously announced acquisition of Brazil’s Plasticos Novel S.A. ® The purchase price was $27.5 million, subject to certain adjustments. Additional terms of the acquisition were not disclosed.
Novel, with projected sales of approximately $38.0 million for 2012, is Brazil’s leading designer and manufacturer of reusable plastic crates and totes used for closed-loop shipping and storage in the region’s fast-growing food and agriculture industries. Novel also produces a diverse range of plastic industrial safety products. With strong relationships to major international companies in its markets, Novel complements Myers Industries’ existing material handling business in Brazil and aligns with the Company’s material handling and geographic growth strategy. Visit http://www.novel.com.br to learn more.
Novel will become part of Myers Industries’ Material Handling Segment. Businesses in this segment include North America-based Buckhorn, ® a leading manufacturer of reusable bulk containers and totes; Akro-Mils, ® a leader in plastic bins and storage systems; and Myers do Brasil, ® located in São Paulo state, Brazil, which produces bulk containers and totes for agriculture and manufacturing markets in the region.
About Myers IndustriesMyers Industries, Inc. (NYSE: MYE) is a diversified, 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 net sales of $755.7 million in 2011. Visit www.myersindustries.com to learn more, or visit www.facebook.com/myersindustries to connect with the Company’s social community. Caution on Forward-Looking Statements Statements in this release may include “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that is not of historical fact may be deemed “forward-looking”. Words such as “expect”, “believe”, “project”, “plan”, “anticipate”, “intend”, “objective”, “goal”, “view”, “should”, and similar expressions identify forward-looking statements. These statements are based on management’s current views and assumptions of future events and financial performance and involve a number of risks and uncertainties, many outside of the Company’s control that could cause actual results to materially differ from those expressed or implied. Risks are detailed in the Company’s 10-K and other reports filed with the Securities and Exchange Commission, which are available at www.sec.gov, and on the Company’s Investor Relations section of its web site at www.myersindustries.com. Myers Industries undertakes no obligation to publicly update or revise any forward-looking statements contained herein. These statements speak only as of the date made.