Brief: Myers Industries Acquires Elkhart Plastics

Myers Industries

10/11/2020 21:23

Nov 10 (Reuters) - Myers Industries Inc  MYE.N :
    * MYERS INDUSTRIES ACQUIRES ELKHART PLASTICS, INC.
    * MYERS INDUSTRIES INC - ELKHART WILL OPERATE AS A NEW
STRATEGIC
BUSINESS UNIT WITHIN MYERS' MATERIAL HANDLING SEGMENT
    * MYERS INDUSTRIES INC - ACQUISITION IS EXPECTED TO BE
IMMEDIATELY
ACCRETIVE TO EARNINGS, AND MYERS FINANCED TRANSACTION WITH CASH
ON HAND
    * MYERS INDUSTRIES - DEAL EXPECTED TO GENERATE ANNUAL COST
SYNERGIES OF ABOUT $4 MILLION TO $6 MILLION PER YEAR, MOST
PROJECTED TO BE ACHIEVED IN FIRST 2 YEARS
    * MYERS INDUSTRIES INC - EXPECTS TO REALIZE GROWTH SYNERGIES
DUE
TO BROADER GEOGRAPHIC FOOTPRINT CREATED BY COMBINED BUSINESSES

Source text for Eikon:  ID:nBwbYsWxFa 
Further company coverage:  MYE.N 

 ((Reuters.Briefs@thomsonreuters.com;))