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Sonoco Implementing Price Increase for all Paperboard Converted Products
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Sonoco (SON) to Raise Price for Paperboard Products by Minimum of 6% in 2024
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HARTSVILLE, S.C., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON) today announced it will raise the price for all converted paperboard products by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after February 1, 2024.
“This price increase is necessary due to continued increases in costs for uncoated recycled paperboard (URB), our primary raw material,” said Mike Thompson, Vice President of Sales and Marketing for Sonoco’s North American Converted Paper Products Division.
Contact Information: Lisa Weeks Vice President of Investor Relations & Communications lisa.weeks@sonoco.com 843-383-7524
About Sonoco Founded in 1899, Sonoco (NYSE:SON) is a global provider of packaging products. With net sales of approximately $7.3 billion in 2022, the Company has approximately 22,000 employees working in more than 320 operations around the world, serving some of the world’s best-known brands. With our corporate purpose of Better Packaging. Better Life., Sonoco is committed to creating sustainable products, and a better world, for our customers, employees and communities. The Company ranked first in the Packaging sector on Fortune’s World’s Most Admired Companies for 2022 and was also included in Barron’s 100 Most Sustainable Companies for the fourth consecutive year. For more information on the Company, visit our website at www.sonoco.com.
Sonoco is raising the price due to continued increases in costs for uncoated recycled paperboard (URB), their primary raw material.
The price increase will be effective with shipments in the United States and Canada on or after February 1, 2024.
The ticker symbol for Sonoco is SON.
Mike Thompson is the Vice President of Sales and Marketing for Sonoco's North American Converted Paper Products Division.
You can contact Lisa Weeks, the Vice President of Investor Relations & Communications, at lisa.weeks@sonoco.com or 843-383-7524.
a global supplier of innovative packaging solutions, bringing more to packaging than just the package. about us: founded in 1899, sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. with annualized net sales of approximately $4.8 billion, we have 20,000 employees working in more than 300 operations in 33 countries, serving some of the world's best known brands in some 85 nations. for more information about us, visit www.sonoco.com. what we do: sonoco is the world's largest producer of paperboard containers, and a leading manufacturer of tubes and cores; convenience closures; consumer and industrial thermoformed plastic packaging; engineered molded and extruded plastic products; protective, temperature and retail assurance packaging. awards and accolades: third-party organizations regularly recognize us for our corporate citizenship. we've been listed in the dow jones sustainability
