Myers Industries to sell European unit

Akron, Ohiop  -- Myers Industries Inc. plans to sell its European

Material Handling Group to Linpac Materials Handling of the United

Kingdom.

The European group produces returnable

plastic containers, pallets and storage systems. Terms of the

transaction were not disclosed, but the company said it expected the

transaction, which is subject to regulatory approvals, to close in the

fourth quarter.

Myers is selling the group because the

unit no longer fits into the company´s long-term strategic plans,

according to president and CEO John Orr. The firm is divesting

non-strategic operations, reinvesting in key business segments and

reducing debt as part of its Strategic Business Evolution plan.

Its growth strategy includes investments

in the form of strategic acquisitions, streamlining activities and

upgrading technologies.