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Michigan Rubber designs, develops and manufactures systems, assemblies and components containing rubber and plastic products for the automotive, heavy truck, recreation, off-highway equipment, government, construction, appliance and industrial markets, while Zhongding Sealing is a China-based manufacturer and seller of sealing parts, automobile rubber products and compounded rubber.
Announcement (September 22, 2009):
Myers Industries has entered into a non-binding letter of intent to sell substantially all of the assets of Michigan Rubber to Zhongding Sealing.
Concurrently, Myers Industries has also agreed to sell the assets of Buckhorn Rubber Products, Inc. to Zhongding Sealing.
The transaction is anticipated to close before November 2009.
Deal Type Acquisition Sub-Category Asset Purchase Deal Status Completed: 2009-11-02
Deal Participants
Target (Company) Michigan Rubber Products, Inc. - Assets Acquirer (Company) Zhongding Sealing Parts (USA), Inc. Vendor (Company) Michigan Rubber Products, Inc.
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