{"id":521041,"date":"2021-08-02T07:03:16","date_gmt":"2021-08-02T11:03:16","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/myers-industries-acquires-trilogy-plastics\/"},"modified":"2021-08-02T07:03:16","modified_gmt":"2021-08-02T11:03:16","slug":"myers-industries-acquires-trilogy-plastics","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/myers-industries-acquires-trilogy-plastics\/","title":{"rendered":"Myers Industries Acquires Trilogy Plastics"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Myers Industries Acquires Trilogy Plastics<\/b><\/p>\n<p class=\"bwalignc\"><i>Acquisition further expands and strengthens Myers\u2019 rotational molding platform<\/i><\/p>\n<p class=\"bwalignc\"><i>Provides Myers\u2019 customers access to a more complete portfolio of diverse products<\/i><\/p>\n<p class=\"bwalignc\"><i>Transaction accelerates Horizon 1 of the Company\u2019s long-term strategy<\/i><\/p>\n<p>AKRON, Ohio&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nMyers Industries, Inc. (NYSE: MYE) today announced that it has acquired the assets of Trilogy Plastics and financed the transaction with its revolving credit facility. Trilogy Plastics is a world-class custom rotational molder specializing in high quality, high tolerance parts and assemblies. The acquisition is the latest action taken as part of the \u201cOne Myers\u201d long-term strategic plan, which is focused on transforming the Company into a high-growth, customer-centric innovator of value-added engineered plastic solutions. This acquisition accelerates Horizon 1 of the long-term strategy focused on value-added bolt-on acquisitions.\n<\/p>\n<p>\n\u201cThe addition of Trilogy to Myers\u2019 rotational molding platform represents an important milestone in the continued execution of our \u2018One Myers\u2019 strategy that we believe will unlock additional growth and expansion opportunities for the Company. Trilogy has an outstanding record of providing its customers high quality, high tolerance products and superior service making it an excellent addition to the high-performance culture we are continually building at Myers,\u201d said Mike McGaugh, President and CEO of Myers Industries. \u201cThis marks our second acquisition in the last nine months, and I am proud of our team for executing exceptionally well on the initial stage of our strategic vision. We look forward to integrating the Trilogy business into the Myers family, and continuing to grow organically and through additional acquisitions.\u201d\n<\/p>\n<p>\nFounded in 1987, Trilogy Plastics manufactures custom products for the industrial, consumer, lawn and garden, heavy truck, medical and other markets. Trilogy has established itself as an internationally recognized U.S. based rotational molder specializing in high appearance, tight tolerance parts and assemblies. The combination of Trilogy with Myers\u2019 Ameri-Kart and Elkhart businesses will create one of the largest rotational molding manufacturers in the United States and will provide Myers\u2019 customers with access to a more complete portfolio of diverse products.\n<\/p>\n<p>\n\u201cWe decided to partner with Myers because of our shared strategic vision and corporate culture,\u201d said Stephen Osborn, Chairman of Trilogy Plastics. \u201cThe combination will allow us to continue our steady growth, improve our ability to support our customers and provide more opportunities to our team members.\u201d\n<\/p>\n<p>\nTrilogy Plastics will operate as a part of the rotational molding platform within Myers\u2019 Material Handling Segment. Headquartered in Alliance, Ohio, Trilogy has two U.S. manufacturing facilities and employs approximately 265 people. Trilogy\u2019s annual revenues are approximately $35 million, and the acquisition is expected to be slightly accretive to earnings in 2021.\n<\/p>\n<p>\nMyers expects the transaction to generate cost synergies of approximately three percent of sales. These cost synergies will stem primarily from supply chain optimization. In addition, the Company expects to realize growth synergies due to the broader geographic footprint created by the combined rotational molding businesses.\n<\/p>\n<p><b><span class=\"bwuline\">About Myers Industries<\/span><\/b><\/p>\n<p>\nMyers Industries, Inc. is a leading manufacturer of a wide range of polymer products for industrial, agricultural, automotive, commercial and consumer markets. The Company is also the largest distributor of tools, equipment and supplies for the tire, wheel, and under- vehicle service industry in the United States. Visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.myersindustries.com&amp;esheet=52469437&amp;newsitemid=20210802005172&amp;lan=en-US&amp;anchor=www.myersindustries.com&amp;index=1&amp;md5=e342b1981c0ab36751988d172138f000\">www.myersindustries.com<\/a> to learn more.\n<\/p>\n<p><b><span class=\"bwuline\">Caution on Forward-Looking Statements<\/span><\/b><\/p>\n<p>\nStatements in this release include \u201cforward-looking\u201d statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statement that is not of historical fact may be deemed \u201cforward-looking\u201d. Words such as \u201cwill\u201d, \u201cexpect\u201d, \u201cbelieve\u201d, \u201cproject\u201d, \u201cplan\u201d, \u201canticipate\u201d, \u201cintend\u201d, \u201cobjective\u201d, \u201coutlook\u201d, \u201ctarget\u201d, \u201cgoal\u201d, \u201cview\u201d and similar expressions identify forward-looking statements. These statements are based on management&#8217;s current views and assumptions of future events and financial performance and involve a number of risks and uncertainties, many outside of the Company&#8217;s control that could cause actual results to materially differ from those expressed or implied. Risks and uncertainties include: impacts from the COVID-19 pandemic on our business, conditions, customers and capital position; the impact of COVID-19 on local, national and global economic conditions; the effects of various governmental responses to the COVID-19 pandemic, raw material availability, increases in raw material costs, or other production costs; risks associated with our strategic growth initiatives or the failure to achieve the anticipated benefits of such initiatives; unanticipated downturn in business relationships with customers or their purchases; competitive pressures on sales and pricing; changes in the markets for the Company\u2019s business segments; changes in trends and demands in the markets in which the Company competes; operational problems at our manufacturing facilities, or unexpected failures at those facilities; future economic and financial conditions in the United States and around the world; inability of the Company to meet future capital requirements; claims, litigation and regulatory actions against the Company; changes in laws and regulations affecting the Company; impact of the U.S. elections impacts on the regulatory landscape, capital markets, and responses to and management of the COVID-19 pandemic including further economic stimulus from the federal government; and other important factors detailed previously and from time to time in the Company\u2019s filings with the Securities and Exchange Commission, including the Company\u2019s Annual Report on Form 10-K for the year ended December 31, 2020 and subsequent Quarterly Reports on Form 10-Q. Such reports are available on the Securities and Exchange Commission&#8217;s public reference facilities and its website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=52469437&amp;newsitemid=20210802005172&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=2&amp;md5=088b7ad5c7e63108eec678f315ff2f6b\">www.sec.gov<\/a> and on the Company&#8217;s Investor Relations section of its website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.myersindustries.com&amp;esheet=52469437&amp;newsitemid=20210802005172&amp;lan=en-US&amp;anchor=www.myersindustries.com&amp;index=3&amp;md5=a59620bd3df5ada3bff4a2f08fcd265a\">www.myersindustries.com<\/a>. 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.\n<\/p>\n<p>\nM-INV\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20210802005172r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20210802005172\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20210802005172\/en\/<\/a><\/span><\/p>\n<p>\nMonica Vinay<br \/>\n<br \/>Vice President, Investor Relations &amp; Treasurer<br \/>\n<br \/>(330) 761-6212\n<\/p>\n<p><b>KEYWORDS:<\/b> United States North America Ohio<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Supply Chain Management General Automotive Automotive Retail Trucking Packaging Chemicals\/Plastics Automotive Manufacturing Transport Other Automotive Manufacturing Logistics\/Supply Chain Management<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Myers Industries Acquires Trilogy Plastics Acquisition further expands and strengthens Myers\u2019 rotational molding platform Provides Myers\u2019 customers access to a more complete portfolio of diverse products Transaction accelerates Horizon 1 of the Company\u2019s long-term strategy AKRON, Ohio&#8211;(BUSINESS WIRE)&#8211; Myers Industries, Inc. (NYSE: MYE) today announced that it has acquired the assets of Trilogy Plastics and financed the transaction with its revolving credit facility. Trilogy Plastics is a world-class custom rotational molder specializing in high quality, high tolerance parts and assemblies. The acquisition is the latest action taken as part of the \u201cOne Myers\u201d long-term strategic plan, which is focused on transforming the Company into a high-growth, customer-centric innovator of value-added engineered plastic solutions. This acquisition accelerates Horizon 1 of the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/myers-industries-acquires-trilogy-plastics\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Myers Industries Acquires Trilogy Plastics&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-521041","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Myers Industries Acquires Trilogy Plastics - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/myers-industries-acquires-trilogy-plastics\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Myers Industries Acquires Trilogy Plastics - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Myers Industries Acquires Trilogy Plastics Acquisition further expands and strengthens Myers\u2019 rotational molding platform Provides Myers\u2019 customers access to a more complete portfolio of diverse products Transaction accelerates Horizon 1 of the Company\u2019s long-term strategy AKRON, Ohio&#8211;(BUSINESS WIRE)&#8211; Myers Industries, Inc. (NYSE: MYE) today announced that it has acquired the assets of Trilogy Plastics and financed the transaction with its revolving credit facility. Trilogy Plastics is a world-class custom rotational molder specializing in high quality, high tolerance parts and assemblies. The acquisition is the latest action taken as part of the \u201cOne Myers\u201d long-term strategic plan, which is focused on transforming the Company into a high-growth, customer-centric innovator of value-added engineered plastic solutions. 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(NYSE: MYE) today announced that it has acquired the assets of Trilogy Plastics and financed the transaction with its revolving credit facility. Trilogy Plastics is a world-class custom rotational molder specializing in high quality, high tolerance parts and assemblies. The acquisition is the latest action taken as part of the \u201cOne Myers\u201d long-term strategic plan, which is focused on transforming the Company into a high-growth, customer-centric innovator of value-added engineered plastic solutions. 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