Business Services Industry
Growing Myers Industries profits on acquisition road.
Crain's Cleveland Business, August, 1988 by Prizinsky, David
Growing Myers Industries profits on acquisition road Diversification seems to agree with Myers Industries Inc. Last summer, the Akron-based tire repair products distributor acquired Buckhorn Inc. of Cincinnati, which manufactures containers. That purchase substantially changed the long-standing profile of Myers; the newly acquired manufacturing operation became the dominant source of the company's revenue, surpassing sales from the distribution operation started in 1933 when chairman Louis S.
Myers began selling tire patches to gas stations and repair shops. The annual report shows that sales from its distribution segment last year were $67.4 million, compared with $71.5 million from its manufactured products segment, in contrast with 1986, when distribution...
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