Myers Industries Inc. Announces Strategic Reorganization, Including Potential Divestiture of Myers Tire Supply

Reuters

Jul 31, 2025

<a href="https://laohu8.com/S/MYE">Myers Industries Inc</a>. Announces Strategic Reorganization, Including Potential Divestiture of Myers Tire Supply

Myers Industries Inc. has announced a strategic reorganization aimed at streamlining operations and enhancing profitability. The company plans to idle two Rotational Molding production facilities in Alliance, Ohio, consolidating production into other locations to achieve annual savings of at least $3 million. Additionally, Myers is on track to realize $20 million in cost savings, primarily in SG&A, by the end of 2025, having already achieved $15 million in savings. The Board of Directors has approved a strategic review of the Myers Tire Supply business, potentially leading to its divestiture to simplify the company's portfolio and focus on core businesses. These actions are part of Myers' broader strategy to improve its long-term earnings profile and create lasting shareholder value.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Myers Industries Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 20250731417316) on July 31, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Announces Strategic Reorganization, Including Potential Divestiture of Myers Tire Supply","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      <a href=\"https://laohu8.com/S/MYE\">Myers Industries Inc</a>. Announces Strategic Reorganization, Including Potential Divestiture of Myers Tire Supply\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Myers Industries Inc. has announced a strategic reorganization aimed at streamlining operations and enhancing profitability. The company plans to idle two Rotational Molding production facilities in Alliance, Ohio, consolidating production into other locations to achieve annual savings of at least $3 million. 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