Sonoco announced implementation of price increases for all paperboard tubes and cores in the US and Canada by a minimum of 10%. The increase is effective with shipments beginning April 10, 2017.
James Harrell, corporate vice president for Sonoco’s U.S. and Canada Tubes and Cores Division, commented:
“This price adjustment is necessary to recover continuing cost inflation, particularly in uncoated recycled paperboard, our primary raw materia.”
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.
Earlier Sonoco-Alcore announced an increase of prices by EUR 60 per tonne (GBP 50 / tonne) on all recycled paperboard grades sold in the company’s European regions.
The company 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 USD 5.0 billion, it has 20,800 employees working in more than 300 facilities in 35 countries. Sonoco is one of the largest producers of uncoated recycled paperboard in the United States and Canada, producing more than 1 million tons annually from 11 mills.