Sonoco Renews Price Increase for Paperboard Tubes and Cores

By GlobeNewswire,  June 19, 2017, 08:49:00 AM EDT

HARTSVILLE, S.C., June 19, 2017 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON) today announced it is renewing its previously announced April price increase for all paperboard tubes and cores in the United States and Canada.  

"The yield on our previously announced April price increase has not been sufficient to cover rising costs, in particular rising prices for uncoated recycled paperboard (URB), our primary raw material," said James Harrell, corporate vice president for Sonoco's U.S. and Canada Tubes and Cores division. "As a result, it is necessary for us to go back to the market to recover those costs."  

Sonoco is the largest producer of paper-based tubes and cores in North America, which are used to serve the paper, textile, plastic film, and tape and specialty industries.  For more information about Sonoco's complete line of paperboard tubes and cores or to learn more about current pricing, please visit the Company's website or contact the Company at +800-377-2692.

About Sonoco

Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging and display and packaging supply chain services. With annualized net sales of approximately $4.8 billion, the Company has 20,000 employees working in more than 300 facilities in 33 countries, serving many of the world's best known brands in some 85 nations. For more information on the Company, visit our website at www.sonoco.com.

Roger Schrum

Source: Sonoco Products Company

This article appears in: News Headlines

Referenced Stocks: SON

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