Myers finalizes ATP purchase

April 2004
Rubber & Plastics News;4/5/2004, Vol. 33 Issue 18, p23
Trade Publication
Myers Industries Inc. has completed the acquisition of ATP Automotive Inc. from Applied Tech Products to expand its automotive rubber and plastics niche product presence. Myers Industries paid about $60 million for the business, comprised of Michigan Rubber Products Inc. and WEK Industries Inc. The firm made the purchase because the companies' products, processes and customers fit into Myers' existing capabilities, said Stephen E. Myers, chairman and CEO of the Akron-based manufacturer of polymer products. Myers Industries produces materials-handling containers, pallets and other goods for the automotive segment. The acquired companies' combined sales of $60 million will boost Myers Industries' manufacturing-related sales by about 11 percent to more than $600 million, according to company data.


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