The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

Sonoco Protective Solutions Announces Price Increases on EPS, Corrugated Materials

Monday, November 11, 2013

Sonoco Protective Solutions Announces Price Increases on EPS, Corrugated Materials

08:00 EST Monday, November 11, 2013

HARTSVILLE, S.C., Nov. 11, 2013 /PRNewswire/ -- Sonoco (NYSE: SON) today announced price increases of 4.2 percent on fabricated packaging assemblies containing EPS and/or PE and corrugated materials, 3.7 percent on all EPS parts and components, and 15 percent on corrugate packaging. The increases will be effective January 1, 2014, and are necessary to adjust pricing for inflationary input costs incurred since mid-2012.

(Logo: http://photos.prnewswire.com/prnh/20120403/CL80773LOGO )

"Since Sonoco's acquisition of Tegrant, we have worked hard to provide price stability to our customers. To this end, we have been successful in maintaining stable pricing for more than a year," said Greg Powell, vice president, Consumer Protective Solutions. "Our procurement and productivity initiatives have helped mitigate or otherwise reduce the impact of increases in resin costs, corrugated (linerboard) and energy. However, a portion of these costs have become unavoidable and are now part of our ongoing cost structure. As a result, we are faced with the need to adjust 2014 prices to reflect these higher input costs."

Sonoco is a leading protective packaging solutions and component provider with 28 manufacturing and fabrication facilities located throughout the U.S. and Mexico. Sonoco supplies material-neutral packaging solutions components to customers in the automotive, appliance, medical, technology, HVAC, kitchen and bath and furniture industries.

For more information about Sonoco's products or to learn more about current pricing, please visit the Company's website at http://www.sonoco.com/productsservices/protectivesolutions.aspx or contact Sonoco Protective Solutions at +800-289-9966.

About SonocoFounded 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, the Company has more than 19,900 employees working in 347 operations in 34 countries, serving some of the world's best known brands in some 85 nations. Sonoco is a proud member of the 2013/2014 Dow Jones Sustainability World Index. For more information on the Company, visit our website at www.sonoco.com.

SOURCE Sonoco

For further information: Roger Schrum, +843-339-6018, roger.schrum@sonoco.com

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections