Myers Industries grows markets through ITML acquisition
Brantford, Ont.-based ITML Horticultural Products Inc, a manufacturer of plastic containers and products for the No...
January 8, 2007 by Canadian Plastics
Brantford, Ont.-based ITML Horticultural Products Inc, a manufacturer of plastic containers and products for the North American horticultural market, has been purchased by Akron, Ohio-based Myers Industries Inc. for approximately $110.1 million.
ITML will be integrated into Myers Industries’ Lawn and Garden segment and will operate as a strategic business unit within the segment, ITML said.
The acquisition is part of Myers’ strategy to boost marketshare among growers and distributors in Canada, as well as in the southern and western U.S. states.
“The combination of ITML and our Lawn and Garden Segment represents a significant opportunity given the complementary nature of the product lines, manufacturing capabilities, sales channels and strategic geographies,” John C. Orr, president and chief executive officer of Myers Industries, said.
Myers Industries, which reported net sales of US$903.7 million in 2005, operates more than 20 facilities in North and South America.