AKRON—Myers Industries Inc. is raising prices for its products by 8 percent as of March 1, citing "rapidly rising raw material costs, primarily resin."
The Ohio-based molder, whose material handling business portfolio includes molders Ameri-Kart, Buchorn and Elkhart Plastics, said the price increase is effective "across a majority of its portfolio of products."
Weather and energy-related outages have added to a wave of rising resin prices, with more expected to be on the way.
Plastics are not the only material seeing increased costs. Canton, Ohio-based TimkenSteel Inc. also announced plans to raise prices on products.
TimkenSteel's news release did not give a reason for its price increase. The maker of alloy steel products will raise the base pricing on all its special bar quality products by $40 per ton for orders not covered by existing pricing agreements. This will be effective for shipments starting April 5.