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8-K - FORM 8-K - MYERS INDUSTRIES INC | l42576e8vk.htm |
EX-99.1 - EX-99.1 - MYERS INDUSTRIES INC | l42576exv99w1.htm |
Exhibit 99.2
News Release NYSE: MYE FOR IMMEDIATE RELEASE |
Contact(s):
- Donald A. Merril, Vice President & Chief Financial Officer
- Max Barton, Director, Corporate Communications
- Monica Vinay, Director, Investor & Financial Relations
(330) 253-5592
- Donald A. Merril, Vice President & Chief Financial Officer
- Max Barton, Director, Corporate Communications
- Monica Vinay, Director, Investor & Financial Relations
(330) 253-5592
Myers Industries Announces Share Repurchase Plan
May 2, 2011, Akron, Ohio Myers Industries, Inc. (NYSE: MYE) today announced that its board
of directors has authorized a stock repurchase program that enables the company to purchase up to
five million shares of its common stock from time to time in the open market. The amount and timing
of specific repurchases are subject to market conditions, applicable legal requirements and other
factors. The purchases will be funded from existing cash resources and may be suspended or
discontinued at any time.
This authorization reflects our track record of strong cash flow, a positive outlook and
commitment to shareholder value, commented John Orr, president and chief executive officer.
Myers has the financial resources to continue to pursue our growth strategies while at the same
time we will look to return value to our shareholders through a stock repurchase program.
About Myers Industries
Myers Industries, Inc. is an international manufacturer of polymer products for industrial,
agricultural, automotive, commercial and consumer markets. The Company is also the largest
wholesale distributor of tools, equipment and supplies for the tire, wheel and undervehicle service
industry in the U.S. The Company reported net sales from continuing operations of $737.6 million
in 2010. Visit www.myersind.com to learn more.
Caution on Forward-Looking Statements: Statements in this release may include
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995. Any statement that is not of historical fact may be deemed forward-looking. Words such as
expect, believe, project, plan, anticipate, intend, objective, goal, view, and
similar expressions identify forward-looking statements. These statements are based on
managements current views and assumptions of future events and financial performance and involve a
number of risks and uncertainties, many outside of the Companys control that could cause actual
results to materially differ from those expressed or implied. Risks and uncertainties include:
changes in the markets for the Companys business segments; changes in trends and demands in the
markets in which the Company competes; unanticipated downturn in business relationships with
customers or their purchases; competitive pressures on sales and pricing; raw material
availability, increases in raw material costs, or other production costs; future economic and
financial conditions in the United States and around the world; ability to weather the current
economic downturn; inability of the Company to meet future capital requirements; claims, litigation
and regulatory actions against the Company; changes in laws and regulations affecting the Company;
the Companys ability to execute the components of its Strategic Business Evolution process; and
other risks as detailed in the Companys 10-K and other reports filed with the Securities and
Exchange Commission. Such reports are available from the Securities and Exchange Commissions
public reference facilities and its web site at http://www.sec.gov, and from the Companys Investor
Relations section of its web site, at http://www.myersindustries.com. Myers Industries undertakes
no obligation to publicly update or revise any forward-looking statements contained herein. These
statements speak only as of the date made.
END
1293 South Main Street Akron, Ohio 44301 (330) 253-5592 Fax: (330) 761-6156 | NYSE / MYE |