Myers Tire Supply and Myers Industries, Inc: History
Myers Industries started as a family business. In 1933, brothers Louis and Meyer Myers formed a partnership based on a $620 loan from their mother, some tire repair merchandise, and a used pickup truck. They created “Myers Tire Supply” and opened their first store in Akron, Ohio, to service tire dealers and retreaders by distributing tools and supplies needed to repair tires.
In the post-war 1940’s, the brothers’ partnership expanded into manufacturing. In 1946, the Myers brothers began two manufacturing companies: Patch Rubber, to produce tire repair patches, and Akro-Mils, to sell plastic and metal storage products through the Myers Tire Supply catalog. The first Myers Tire Supply international branch opened in Ontario in 1953, and the first domestic branch opened in 1954 in Detroit, Michigan.
To reflect the diversity of the Company between manufacturing and distribution operations, it was renamed
Myers Industries, Inc. in 1963. Myers Tire Supply, Akro-Mils, and Patch Rubber remained “brands” of the Company.
Between 1946 and 1986, Myers Industries expanded through internal growth, fueled by new product innovation such as AkroBin® storage bins, radial tire repair products, and other plastic and rubber products. In its distribution business, branches were opened throughout North America to create a network of strategic operations close to customers— positioned with a broad product offering and rapid availability— and to provide “One - Stop - Shopping” for the tire dealer.
The Company made its initial public stock offering in 1971 and made a second offering in 1972. In 1983, Myers Industries celebrated its 50th year in business, and later that year listed its stock on the American Stock Exchange. In 2001, the Company listed on the New York Stock Exchange.
Myers Industries today encompasses: 29 manufacturing facilities in North America and South America; 43 distribution branches covering North, Central, and South America; more than 20,000 products, and more than 4,500 employees. The business is organized into four strategic segments: Distribution, Lawn and Garden, North American Material Handling, and Automotive and Custom— covering 13 brands / companies.
Myers’ brand strength and success in its four business segments is rooted in a clear operating strategy focusing on: continuous innovation; organizational development; cost control; customer satisfaction; and positioning the business for sustainable growth through strategic acquisitions, divestitures, and internal initiatives.
