Sonoco Prod Stock Price, News & Analysis

Sonoco-Alcore announced a 10% price increase on all tube and core grades in the EMEA region, effective from December 13, 2021. This decision is a response to ongoing inflationary pressures affecting various operational sectors, including energy and raw materials. The company aims to mitigate rising costs that productivity initiatives alone cannot offset, according to Karsten Kemmerling, Division VP of Sales & Marketing EMEA. Sonoco-Alcore, wholly owned by Sonoco (NYSE: SON), manages 24 tube and core plants and five paperboard mills in Europe.

Sonoco (NYSE: SON) has announced that its Natrellis® packaging line for refrigerated and frozen foods has received a prequalified How2Recycle label for recyclability. In partnership with Tellus Products, this sustainable packaging is made from upcycled sugarcane fiber and other plant materials. The Natrellis technology enhances package strength, preventing moisture loss and leakage. Debuted in 2020, Natrellis is used by brands like PRIMAL KITCHEN for frozen meals, coinciding with the growing consumer demand for sustainable packaging solutions.

Sonoco ThermoSafe has entered a global partnership with Singapore Airlines to lease the innovative Pegasus ULD® temperature-controlled shipping container. This agreement allows pharmaceutical freight forwarders to access these containers directly from Singapore Airlines, enhancing the transport of high-value pharmaceutical cargo. The Pegasus ULD® is pioneering as the first FAA and EASA-approved temperature-controlled bulk container designed for pharmaceuticals, offering optimized freight handling and sustainability via composite materials. The container features integrated telemetry for real-time monitoring of temperature and location.

On November 11, 2021, Sonoco (NYSE: SON) was recognized as a “Best for Vets” company by Military Times, being one of 161 companies honored. This recognition reflects Sonoco's commitment to veterans and its alignment with values such as loyalty and teamwork, as noted by CEO Howard Coker. The Best for Vets rankings assess companies based on their culture, veteran recruitment, and support policies. Sonoco, which reported annual sales of around $5.2 billion and employs 19,000 people globally, aims to create sustainable packaging solutions.

Sonoco (NYSE: SON) has acquired D&W Paper Tubes, Inc., a Chatsworth, GA-based manufacturer of sustainable industrial paper tubes and cores. Founded in 2000, D&W is expected to generate approximately $18 million in sales in 2021. This acquisition enhances Sonoco's Industrial Paper Packaging segment and strengthens its presence in the Northeast Georgia carpet and textile markets. The company anticipates achieving significant business synergies through its integrated operations in the Southeast.

Sonoco, a leading global packaging company, announced the retirement of Marcy Thompson, Vice President of Marketing and Innovation, effective end of 2021. With over 15 years at Sonoco, she significantly contributed to various business areas and innovation initiatives. Additionally, Ernest Haynes and Russell Grissett have been appointed as Vice Presidents for Rigid Paper Containers and Global Flexible Packaging, respectively, effective November 1, 2021. Both bring extensive experience from their previous roles within the company.

Sonoco has validated the acceptance of its EnviroCan paper containers in residential mixed paper bales for recycling into new paperboard at 10 of its paper mills across the U.S. This initiative, led by staff VP of sustainability, Elizabeth Rhue, will enable the production of 100% recycled paperboard, utilizing up to 85% post-consumer fiber. The move aligns with Sonoco's commitment to sustainability and material circularity, allowing for the recycling of EnviroCan containers through the mixed paper stream, further enhancing their environmental efforts.