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Stock Market & Financial Investment News

News Breaks
June 24, 2014
07:36 EDTMYEMyers Industries completes sale of WEK Industries for approx. $19.5M
Myers Industries has completed the sale of WEK Industries, Inc. to Industrial Opportunity Partners, owners of Toledo Molding and Die, Inc. for approximately $19.5M. The sale of WEK Industries includes manufacturing facilities and offices located in Jefferson, Ohio and Reidsville, North Carolina. Additional terms of the agreement were not disclosed. Western Reserve Partners advised Myers Industries, Inc. in connection with this transaction. In light of this transaction and recent announcements regarding the agreement to purchase Scepter and the commencement of the sale of Myers’ Lawn and Garden Segment, the company also announced a reporting segment realignment to reduce the reportable segments from four to two. Starting with the second quarter Form 10Q and going forward, Myers will report its underlying earnings in two reportable segments: Material Handling and Distribution.
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