Welcome to our dedicated page for Sonoco Prod news (Ticker: SON), a resource for investors and traders seeking the latest updates and insights on Sonoco Prod stock.
Sonoco Products Company (NYSE: SON) is a global leader in diversified packaging solutions serving consumer goods, industrial, and retail markets. This news hub provides investors and industry professionals with comprehensive coverage of Sonoco's strategic developments, operational updates, and sustainability initiatives.
Track critical updates including quarterly earnings reports, packaging innovation announcements, sustainability achievements, and strategic partnerships. Our curated collection features official press releases, market analyses, and regulatory filings to help stakeholders monitor Sonoco's position in the competitive packaging sector.
Key focus areas include advancements in recyclable materials, manufacturing efficiency improvements, and expansion of the company's global supply chain capabilities. Regular updates cover Sonoco's progress in meeting environmental goals while maintaining its leadership in paperboard containers and protective packaging solutions.
Bookmark this page for real-time updates on SON's business performance, including developments in food-safe packaging technologies and industrial packaging applications. Stay informed about this packaging innovator's responses to evolving market demands and regulatory changes affecting the global container industry.
Sonoco Recycling, a division of Sonoco (NYSE: SON), has acquired American Recycling of Western North Carolina, a well-capitalized recovered paper recycler in Asheville, N.C. This acquisition, expected to generate around $9 million in sales for 2021, enhances Sonoco's mill operations by providing a stable, lower-cost supply of recovered fiber. The facility processes about 30,000 tons of recovered fiber annually and is strategically located 65 miles from Sonoco's Newport, TN, paperboard mill. This move supports Sonoco's commitment to sustainability and growth.
On December 20, 2021, Ball Corporation (NYSE:BLL) announced the sale of Ball Metalpack to Sonoco (NYSE:SON) for approximately $1.35 billion. The sale is subject to regulatory review and is expected to close in Q1 2022. Ball Metalpack, a joint venture between Platinum Equity and Ball Corporation, focuses on sustainable steel containers for various products. The transaction aims to enhance shareholder value through potential share buybacks and dividends, following a successful transformation program over three years that invested $100 million in operational improvements.
Sonoco (NYSE: SON) has announced its definitive agreement to acquire Ball Metalpack for $1.35 billion in cash, enhancing its Consumer Packaging franchise. This acquisition is projected to boost cash flows and earnings, with Ball Metalpack expected to generate $850 million in revenue and $111 million in EBITDA for 2021. The deal offers an estimated tax benefit of $180 million. Sonoco anticipates annual synergies of at least $20 million from procurement and savings. The transaction is expected to close in Q1 2022, subject to regulatory approval.
Sonoco ThermoSafe, a unit of Sonoco (NYSE: SON), has partnered with Asiana Airlines to lease the Pegasus ULD® temperature-controlled shipping container. This innovative container, the first FAA and EASA-approved passive bulk ULD for pharmaceuticals, will enhance shipping efficiency and reduce costs for pharmaceutical freight forwarders. The Pegasus ULD® features a lightweight, damage-resistant design and real-time telemetry for monitoring temperature and environmental conditions. This collaboration aims to strengthen cold chain logistics, particularly in Incheon, South Korea.
Sonoco (NYSE: SON) announced a strategic plan targeting $1 billion in annual EBITDA by 2026 during its investor meeting on December 10, 2021. The company projects its 2022 base earnings per diluted share to be between $3.85 and $3.95, with an anticipated significant improvement in free cash flow. Key strategies include capital investment, operational efficiencies, and potential acquisitions. Despite a projected GAAP loss for 2021, Sonoco expects strong operating cash flow of $520-$550 million. The firm is committed to sustainability goals, aiming for a 25% reduction in greenhouse gas emissions by 2030.
Sonoco (NYSE: SON) will hold a live virtual meeting for the financial community on December 10, 2021, at 8 a.m. ET. Key executives, including CEO Howard Coker and CFO Julie Albrecht, will discuss the company's strategic overview and financial outlook. Attendees can join via the Internet or phone. A replay will be available on Sonoco’s Investor Relations website after the event, and a telephonic replay will be accessible until December 20. Sonoco, recognized for its sustainable practices, reported annual sales of approximately $5.2 billion and operates in 34 countries.
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.
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