Sonoco announced renewal of the previously announced April 2017 price increase for all paperboard tubes and cores in the US and Canada.
James Harrell, corporate vice president for Sonoco’s U.S. and Canada Tubes and Cores division, commented:
“The yield on our previously announced April price increase has not been sufficient to cover rising costs, in particular rising prices for uncoated recycled paperboard (URB), our primary raw material. As a result, it is necessary for us to go back to the market to recover those costs..”
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. .
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.