Sonoco Implementing Price Increase for All Rigid Paper Containers
July 09 2018 - 10:00AM
Sonoco (NYSE:SON) today announced it is implementing a 4 percent
price increase for all composite cans and corresponding metal ends
in the United States and Canada, effective with shipments beginning
August 1, 2018.
“Sonoco’s global sourcing power and commitment to supply
security have allowed us to effectively mitigate historic
inflationary pressures,” said Robin Gordon, division vice president
of sales for Sonoco’s U.S. and Canada composite cans and metal
ends. “However, the recent trade announcements assigning tariffs on
the steel and aluminum supply, along with strong regional demand,
have placed unprecedented stress on our suppliers’ feedstocks and
corresponding input costs. While we will continue to monitor the
domestic and global sourcing landscape to find ways to mitigate
inflation, we do need to recover our current cost exposure. We will
continue to work with our suppliers to ensure supply security and
find ways to bring input costs down over the coming months.”
About SonocoFounded in 1899, Sonoco (NYSE:SON)
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 $5
billion, the Company has 21,000 employees working in more than 300
operations in 33 countries, serving some of the world’s best known
brands in some 85 nations. Sonoco is committed to Better Packaging.
Better Life., and ranked first in the Packaging sector on Fortune’s
World’s Most Admired Companies 2018 list. For more information,
visit www.sonoco.com.
Contact:
Roger Schrum
+843-339-6018
roger.schrum@sonoco.com
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