Sonoco to increase prices by US$30/ton on all its uncoated recycled paperboard grades for shipments in US and Canada, effective March 3; cites inflationary pressure due to rising costs of various inputs, especially energy, over past several months
HARTSVILLE, South Carolina
February 18, 2014
– Sonoco (NYSE: SON) today announced that it will raise the price for all grades of uncoated recycled paperboard (URB) products by $30 per ton, effective with shipments in the United States and Canada beginning March 3, 2014.
"The price increase is necessary to recover inflationary pressure on a variety of input costs, including chemicals, freight and especially energy, where we have seen a significant increase over the past several months," said Marty Pignone, vice president, Primary Materials Group, North America. "In addition, market prices for recovered fiber are beginning to rise due to strained supply resulting from weak generation and severe winter weather."
Sonoco is one of the largest producers of uncoated recycled paperboard in the United States and Canada, producing more than 1 million tons annually from 13 mills. For more information about Sonoco's complete line of URB paper products or to learn more about current pricing, please visit the Company's website 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 $4.9 billion, the Company has 19,900 employees working in more than 335 facilities in 33 countries, serving many of the world's best known brands in some 85 nations. Sonoco is a proud member of the 2013/2014 Dow Jones Sustainability World Index. For more information on the Company, visit our website at www.sonoco.com.