SCEPTER CORPORATION AND SCEPTER MANUFACTURING, LLC, ACQUIRED BY MYERS INDUSTRIES
Scarborough, Ontario, Canada-based Scepter Corporation and Scepter Manufacturing, LLC, has announced that on Friday, May 30, 2014, the companies entered into a definitive agreement to be acquired by Myers Industries of Akron, Ohio, USA.
The transaction includes Scepter’s manufacturing facilities, warehouses and offices in Scarborough, Ontario and Miami, Oklahoma. Additional terms of the agreement, which is expected to close within approximately 30 days, were not
disclosed.
Myers Industries (NYSE: MYE), a diversified, international manufacturer of plastic and rubber products with 2013 revenues of approximately US$825 million, operates under four segments: material handling, lawn & garden, engineered products and distribution.
Scepter is an industry-leading manufacturer of molded plastic material handling products for marine, military, industrial, and consumer markets. Operating within Myers Industries material handling segment, Scepter will maintain its brand identity and continue to operate as an autonomous business unit. All currentmanagement and staff remain in place, and day-to-day operations remain unchanged.
Scepter’s long history of innovation, in-house product engineering and state-of-the-art mold capabilities complements Myers Industries’ material handling segment in North America, increases its global reach, and support the company's long-term strategic growth plan. “The addition of Scepter is anticipated to provide Myers Industries with the opportunity to expand upon our leadership position in the material handling segment, broaden our product offering, and better position us for long-term growth in new markets,” said John C. Orr, Myers Industries President and Chief Executive Officer.
