HARTSVILLE, S.C., Jan. 17, 2018 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Sonoco (NYSE:SON), please note in the first paragraph the effective date of the price increase should be "February 19, 2018" rather than "February 19, 2017" as originally issued. The corrected release follows:
Sonoco Implementing Price Increase for All Uncoated Recycled Paperboard Products
Sonoco (NYSE:SON) today announced it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning February 19, 2018.
“A positive of the robust economy is solid backlogs at our mills. A challenge that the growing economy presents is inflating input costs such as we are seeing in freight, energy and a host of other paper-making consumables. Sonoco must seek to recover these inflating costs in the market,” said Palace Stepps, division vice president of sales and marketing for Sonoco’s U.S. and Canada paper and adhesives.
Sonoco is one of the largest integrated manufacturers of uncoated recycled paperboard in the United States and Canada, producing more than one million tons annually from 11 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 at www.sonoco.com or contact the Company at 1-800-377-2692.
About Sonoco
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.
Contact:
Roger Schrum
+843-339-6018
roger.schrum@sonoco.com