Sonoco Announces North America Paperboard Price Increase
Sonoco (NYSE: SON) will increase prices in North America for all uncoated recycled paperboard grades by $40 per ton effective with shipments on January 21, 2008, according to Marty Pignone, vice president - Paper, North America. In addition, prices for some specialty grades of paper will be increased above the new general price interval.
“The cost of recovered paper, our primary raw material, remains near historical highs and we are expecting pricing to increase further as we enter 2008,” said Pignone. “In addition, we are continuing to shoulder higher energy and other operating expenses which make it essential that we begin recovering these higher costs.”
Founded in 1899, Sonoco is a $3.7 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 330 operations in 35 countries, serving customers in some 85 nations. For more information on the Company, visit our Web site at http://www.sonoco.com/.
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