Myers Industries Inc. plans to boost its stake in plastic fuel tanks in an acquisition of Scepter Corp. and Scepter Manufacturing LLC.
Meanwhile, Myers also is looking to sell its lawn and garden business segment.
Myers already rotationally molds fuel tanks for marine, recreational vehicle and industrial markets. Scepter blow molds fuel tanks for marine, consumer, military and industrial markets.
Myers said the Scepter acquisition, announced June 2, will expand its materials handling segment, which now injection molds plastic reusable containers, pallets, bins, totes, beverage crates and bulk containers. Scepter also makes materials handling products include crates, recycling containers, ammunition boxes and similar items.
Other plastic goods that Scepter molds include rain barrels, vehicle trunk storage aids, portable auto ramps and oil extraction systems for small engines.
Myers plans to keep its existing Ameri-Kart fuel tank business in its engineered products segment. Scepter's operations, including blow molding, will be part of Myers' materials handling segment because its materials handling production is bigger than its fuel tanks business, a Myers spokeswoman explained in a phone interview.