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8-K - FORM 8-K - MYERS INDUSTRIES INC | l42821e8vk.htm |
Exhibit 99.1
News Release NYSE: MYE |
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Contact: | ||
Donald A. Merril, Senior Vice President & | ||
Chief Financial Officer, (330) 253-5592 | ||
FOR IMMEDIATE RELEASE |
Myers Industries Adopts 10b5-1 Plan in Conjunction
with Share Repurchase Plan
with Share Repurchase Plan
June 1, 2011, Akron, Ohio Myers Industries, Inc. (NYSE: MYE) announced today that it has
adopted a Rule 10b5-1 plan (the Plan) for the purpose of repurchasing up to two million shares of
its common stock in accordance with the guidelines specified in Rule 10b5-1 of the Securities
Exchange Act of 1934. The Plan has been established in connection with the five million share
repurchase plan that was previously announced on May 2, 2011.
A plan under Rule 10b5-1 allows a company to repurchase its shares at times when it otherwise might
be prevented from doing so under insider trading laws or because of self-imposed trading blackout
periods. A broker selected by the Company will have the authority under the terms and limitations
specified in the Plan to repurchase shares on the Companys behalf in accordance with the terms of
the Plan. Repurchases are subject to SEC regulations as well as certain price, market volume and
timing constraints specified in the Plan. Because the repurchases under the Plan are subject to
certain constraints, there is no guarantee as to the exact number of shares that will be
repurchased under the Plan.
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.myersindustries.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 |