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Myers Tire Supply to close Canadian branches

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AKRON (Jan. 31, 2014) — Myers Industries Inc. is closing its Myers Tire Supply Canada Ltd. branches in Canada, saying the business there hasn't been profitable.

The decision affects branch locations in Quebec City, Quebec; London, Ontario, and Sherwood Park, Alberta, Myers said, which together employed about 25. Future sales in Canada will be serviced from the U.S. distribution network, the company said.

Akron-based Myers said pre-tax cash costs for the closures will be approximately $1 million. It will record 75 percent of the costs in the first half of 2014.

The firm estimates the closing will result in a sales drop of about $7.5 million.

Todd Smith, vice president and general manager of Myers' Distribution Segment, said the company values "the contributions made by our employees, and the decision to close the branches is not a reflection of their efforts, but rather the need to transition out of a business model that has not been profitable for us."

Myers Tire Supply International continues to have sales offices in Brazil, El Salvador, Guatemala and Panama.

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