HARTSVILLE, S.C., Feb. 01, 2018 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON) today announced it is implementing a price increase, the minimum of which will be 8 percent, for all paperboard tubes and cores sold in the United States and Canada, effective with shipments beginning March 1, 2018.
“This price increase is necessary due to the recent increases in uncoated recycled paperboard (URB), the largest input cost for tubes and cores,” said Doug Schwartz, division vice president of sales and marketing. “Furthermore, other inflationary pressures from rising adhesives, packaging, energy, labor and transportation costs underscore the need for this market-based increase.”
Sonoco is the largest producer of paperboard 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 product line of paperboard tubes and cores or to learn more about current pricing, please visit the Company’s website at www.sonoco.com or contact the Company at 1-800-377-2692.
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging and packaging supply chain services. With annualized net sales of approximately $5 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.
Source: Sonoco Products Company