Sonoco-Alcore to Increase Tube & Core Prices in the EMEA Region
On August 30, 2022, Sonoco-Alcore S.a.r.l. announced a price increase of 70 EUR/ton for tube and core grades in its EMEA regions, effective September 1, 2022. This decision was driven by ongoing inflationary pressures, including surging costs for gas and electricity, which the company can no longer absorb. Division VP Karsten Kemmerling emphasized the need to cover these costs to maintain operational stability, while ensuring supply security and quality. No shortages are anticipated at this time.
- Maintaining operational stability amid rising costs.
- Focus on supply security and quality assurance.
- Price increase could lead to reduced demand from customers.
- Continued inflationary pressures impacting cost structure.
BRUSSELS, Belgium, Aug. 30, 2022 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. announces today that due to continued inflationary pressure on the business it will raise prices by 70EUR/ton or 60 GBP/ton for the UK on all tube and core grades sold in the Company’s EMEA regions. The increase is in direct response to the continued escalation of its cost base and will be effective for all shipments made on or after September 1, 2022.
“We continue to experience further cost increases in all sectors of our operations and supply chain, mainly related to volatile gas and electricity prices raising to record high levels. We are again forced to pass on cost increases to the market, as we are unable to absorb them any further. Supply security and quality remains our primary focus. No shortages are currently foreseen but we need to cover our cost to maintain our operational status,” said Karsten Kemmerling, Division VP - Sales & Marketing EMEA.
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.
About Sonoco
Founded in 1899, Sonoco (NYSE: SON) is a global provider of consumer, industrial, healthcare and protective packaging. With net sales of approximately
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