Sonoco-Alcore to Increase Paperboard Prices in the EMEA Region

Rhea-AI Summary

Sonoco-Alcore S.a.r.l. has announced a price increase of €100 (£100) per tonne for all recycled paperboard grades sold in the EMEA regions, effective from October 18, 2021. The company cites unprecedented energy cost increases across Europe as the primary reason for this decision. Phil Woolley, Division VP of Paper Europe, mentioned the need to take regrettable yet unavoidable actions to mitigate inflationary pressures. Monitoring of energy prices will continue month-to-month to adapt pricing strategies accordingly.

Positive

• Timely response to inflationary pressures by adjusting prices.
• Potential to maintain profitability amidst rising energy costs.

Negative

• Rising costs could deter customers and affect sales volume.
• Uncertainty in energy prices may lead to future price adjustments, creating instability.

BRUSSELS, Belgium, Oct. 11, 2021 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. announces today that due to the continued escalation in the cost of European energy it will raise prices by €100 (£100) / tonne on all recycled paperboard grades sold in the Company’s EMEA regions and which will be effective for all shipments made on or after the 18^th October 2021.

“Over the last few weeks we have continued to see extraordinary increases in the cost of energy across Europe. Without doubt, the current situation is wholly unprecedented and is once again forcing us to take regrettable, but unavoidable actions, to offset this inflation. We will continue to monitor the situation on a month-by-month basis and will review in line with future energy price movements.” said Phil Woolley, Division Vice President – Paper Europe.

Sonoco Alcore S.a.r.l. is wholly owned by Sonoco (NYSE:SON) and operates 24 tube and core plants and five paperboard mills in Europe.

FAQ

What is the recent price increase announced by Sonoco (SON)?

Sonoco-Alcore announced a €100 (£100) per tonne price increase on all recycled paperboard grades, effective October 18, 2021.

Why did Sonoco raise its prices for recycled paperboard?

The price increase is attributed to unprecedented rises in energy costs across Europe.

When will the new prices for Sonoco's paperboard take effect?

The new prices will take effect for all shipments made on or after October 18, 2021.

How is Sonoco (SON) addressing the rising energy costs?

Sonoco is monitoring energy prices month-to-month and adjusting pricing strategies accordingly.

What regions are affected by Sonoco's price increase?

The price increase affects all recycled paperboard grades sold in Sonoco's EMEA regions.