Myers Industries expects to take on nearly $28 million in charges as it consolidates manufacturing and launches workflow and inventory management programs over the next 12 months. Myers did not, however, specify which of its facilities might close or be affected as a result of the company’s recently announced realignment.
Myers intends to optimize customer service, reduce costs, increase competitive positioning and enhance long-term operating performance with the series of initiatives.
“Our objective with the initiatives is to further improve our manufacturing network and processes to minimize operating costs and maximize customer satisfaction,” says John C. Orr, president and CEO. “That includes rationalizing our manufacturing footprint to lower overhead and distribution costs, improve operational effectiveness and reduce working capital requirements.
“In doing so, we will be better positioned to serve our customers with the products they need, manufactured at the right location for the customer, and delivered when they need them.”