Gamco will vote to keep Myers Industries public

By Devika Patel

Knoxville, Tenn., July 6 - Gamco Asset Management Inc., a subsidiary of Gamco Investors, Inc., announced that it will vote against the proposed sale of Myers Industries, Inc. to private equity funds at the upcoming special shareholders meeting.

"After discussion with your associates, we believe our clients are best served by staying the course," Gamco stated in a letter to Myers Industries. "Your initiatives of the past 12 months ... present significant opportunities for your automotive service business.

"These far outweigh the short-term business risks associated with price/cost imbalances in the non-automotive business.

"In addition, projections ... do not contain benefits the company would derive from any financial restructuring.

"Accordingly, we are voting against the merger proposal."

Gamco Asset Management provides investment management services to institutional and high net worth investors. Myers Industries is an Akron, Ohio, manufacturer of polymer products.

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