2006-10-23 Meyers Decides to Sell European Group

Myers Industries Inc., which makes polymer products and distributes tools and other equipment on Friday said it will sell its European material handling group to U.K.-based LINPAC Materials Handling.

Financial terms were not disclosed for the deal, which is expected to close in the fourth quarter.

Myers said the business no longer fit with its long-term strategy of reinvesting in key business segments.

The European material handling group manufacturers returnable plastic containers, pallets, and storage systems used by a variety of industries