Sonoco-Alcore to Increase Paperboard Prices in the EMEA Region

Rhea-AI Summary

Sonoco-Alcore S.a.r.l. will increase prices by €60 (£50) per tonne on all recycled paperboard grades in EMEA regions, effective January 1, 2021. This price hike is a response to the surging costs and limited availability of waste paper across Europe, which has compelled the company to pass these costs onto the market after absorbing them throughout 2020. Phil Woolley, Division Vice President – Paper Europe, indicated that the company had no alternative but to implement this increase.

Positive

• Price increase of €60 per tonne could improve revenue and offset rising costs.
• The company has 29 plants and five mills in Europe, providing a strong operational presence.

Negative

• The price hike suggests ongoing challenges in waste paper availability, which may impact operational stability.
• Absorption of costs in 2020 indicates past financial strain.

BRUSSELS, Belgium, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. today announced that it will raise prices by €60 (£50) per tonne on all recycled paperboard grades sold in the Company’s EMEA regions. The price change is effective with all shipments on or after the 1^st January 2021.

“The increase is in direct response to the rapidly escalating cost and limited availability of waste paper currently seen across Europe. Throughout 2020, we have absorbed additional costs to our business but are now faced with no alternative but to pass these recent escalations onto the market,” said Phil Woolley, Division Vice President – Paper Europe.

Sonoco Alcore S.a.r.l. is wholly-owned by Sonoco (NYSE:SON) and operates 29 tubes and cores plants and five paperboard mills in Europe.

FAQ

What is the new price increase for Sonoco's recycled paperboard grades in Europe?

Sonoco-Alcore announced a price increase of €60 (£50) per tonne on all recycled paperboard grades.

When does the price increase for Sonoco's recycled paperboard take effect?

The price increase will take effect from January 1, 2021.

Why is Sonoco raising prices on recycled paperboard?

The price increase is a response to escalating costs and limited availability of waste paper across Europe.

Who is the Division Vice President commenting on the price increase?

Phil Woolley is the Division Vice President – Paper Europe.

What operations does Sonoco have in Europe?

Sonoco-Alcore operates 29 tubes and cores plants and five paperboard mills in Europe.