Myers Industries, Inc. (Akron, Ohio) announced that it intends to purchase strategic assets of Schoeller Arca Systems, Inc. North America, a manufacturer of reusable bulk containers and related material handling products, based in Detroit, Mich.
The purchase includes select equipment, molds, and inventory related to the well known Xytec® and Combo product lines. These collapsible bulk containers are used for diverse shipping and handling applications in markets from manufacturing to food to liquid transport.
Net sales in these product lines for Schoeller Arca for the year ended December 31, 2006, were approximately $50.0 million. Xytec and Combo products will be integrated into Myers Industries’ Buckhorn brand, part of the Company’s North American Material Handling Segment.
John C. Orr, president and chief executive officer of Myers Industries, said, “The Xytec and Combo lines are a great fit in our North American Material Handling Segment. We are gaining strategic products and markets that are highly complementary to our Buckhorn business.”
Source: Myers Industries
