Sonoco Increasing Prices for Paperboard Tubes and Cores
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Sonoco, Hartsville, S.C., USA, this week announced it is implementing price increases for all paperboard tubes and cores in the U.S. and Canada by a minimum of 8%. Sonoco previously announced a 6% to 8% price increase on all paperboard tubes and cores in October 2016, and the company is revising the increase to a minimum of 8%, effective with shipments beginning Feb. 13, 2017.
"This price adjustment is necessary to recover continuing cost increases in uncoated recycled paperboard, our primary raw material, combined with higher costs for energy, labor, and other input costs," said James Harrell, corporate VP for Sonoco’s U.S. and Canada Tubes and Cores Division.
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. Founded in 1899, the company 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 $5.0 billion, Sonoco has 20,000 employees working in more than 300 facilities in 35 countries, serving many of the world’s best known brands in some 85 nations.
