Sonoco Protective Solutions Increases Prices of EPS, Corrugated Materials
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"Since Sonoco's acquisition of Tegrant, we have worked hard to provide price stability to our customers. To this end, we have been successful in maintaining stable pricing for more than a year," said Greg Powell, VP, Consumer Protective Solutions. "Our procurement and productivity initiatives have helped mitigate or otherwise reduce the impact of increases in resin costs, corrugated (linerboard), and energy. However, a portion of these costs have become unavoidable and are now part of our ongoing cost structure. As a result, we are faced with the need to adjust 2014 prices to reflect these higher input costs."
Sonoco is a protective packaging solutions and component provider with 28 manufacturing and fabrication facilities located throughout the U.S. and Mexico. The company supplies material-neutral packaging solutions components to customers in the automotive, appliance, medical, technology, HVAC, kitchen and bath, and furniture industries.