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.
When is the last time you attended one of the national tire industry trade shows, such as SEMA, ITEC or the North American Tire & Retread Expo?
|I try and take in at least one show a year.||
|I usually attend one every few years.||
|There are so many tire maker and distributor meetings each year, I don’t see a need to attend one of the national shows.||
|I don’t find value in these shows and haven’t been to one in years.||
|I’d like to but I am too busy||