Resin shortage hitting molders, auto suppliers
Myers Industries Inc.
Myers Industries Inc., a maker of pallets, totes and industrial material handling, is raising its prices 8 percent due to the rising cost of resin.
Rising resin prices and a shortage of available material is being felt by molders who are increasing their own prices, limiting deliveries and potentially halting auto production.
Confer Plastics Inc., a North Tonawanda, N.Y.-based blow molder and swimming pool accessory maker, is rationing material and had to lay off 40 workers because of the resin shortage.
"My concern is, that as fluid as the situation has become, we might have to lay off more in the coming weeks," owner Bob Confer said in an email. "Currently, we're planned to be in receipt of about 30-40 percent of our typical monthly demand, which is a really significant hit, especially in a year when we've been busier than we ever have been."