AKRON (March 8) — Myers Industries Inc. is on the brink of purchasing the assets of Schoeller Arca Systems Inc. North America, a manufacturer of reusable bulk containers and related material handling products, from Netherlands-headquartered Schoeller Arca Systems N.V.
The transaction is expected to close today.
The acquisition includes select equipment, molds and inventory related to Schoeller´s Xytec and Combo bulk container product lines. Combo and Xytec will be integrated into Myers´ Buckhorn brand business, which is part of the firm's North American Material Handling segment.
Schoeller had sales of about $50 million in 2006.
Detroit-based Schoeller´s Xytec and Combo lines are a great fit in the firm's North American Material Handling segment, according to Myers President and CEO John C. Orr, because it is gaining strategic products and markets that are complementary to its Buckhorn business.