Sonoco Announces New, State-of-the-Art, Technical and Engineering Center for Metal Packaging Innovation

Rhea-AI Summary

Sonoco announced the opening of a new multi-million-dollar, state-of-the-art Technical and Engineering Center for Metal Packaging Innovation in Columbus, Ohio. The 11,000 sq ft facility includes modern laboratories, prototyping equipment, training rooms, and collaboration spaces. This center aims to expand Sonoco's leadership in sustainable metal packaging, providing design support, advanced technical services, process development, engineering, and training. The center will enhance collaboration among can makers, brand owners, industry suppliers, and scientific partners. Sonoco is a leading manufacturer of sustainable metal packaging for food and beverage products and a major aerosol can producer in North America.

Positive

• Sonoco opened a new 11,000 sq ft, state-of-the-art Technical and Engineering Center for Metal Packaging Innovation.
• The new facility includes modern laboratories, prototyping equipment, training rooms, and collaboration spaces.
• The center aims to expand Sonoco's leadership in sustainable metal packaging.
• This facility supports design, technical services, process development, engineering, and training.
• The center enhances collaboration among can makers, brand owners, industry suppliers, and scientific partners.
• Sonoco is a leading manufacturer of sustainable metal packaging for food and beverage products.
• Sonoco is one of the largest aerosol can producers in North America.
• Customized training opportunities are available to accelerate production ramps, increase throughput, and improve quality.
• The investment demonstrates Sonoco's commitment to leveraging new technologies and innovations.

Negative

• The press release does not provide specific financial figures or projections related to the new center.
• Potential shareholders may perceive the multi-million-dollar investment as a risk if it does not yield expected returns.
• No specific timeline is mentioned for when the benefits of the new center will be realized.
• There is no information on how this investment will immediately impact Sonoco's revenue or profitability.

HARTSVILLE, S.C., May 30, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company (“Sonoco”) (NYSE: SON), one of the largest sustainable global packaging companies, today announced the grand opening of a new multi-million-dollar, state-of-the-art center at 2850 Charter Street in Columbus, Ohio. The 11,000 square foot facility includes modern laboratories, prototyping equipment, training rooms, and collaboration spaces. The opening of the Sonoco Metal Packaging Technical & Engineering Center demonstrates the company’s commitment to expand leadership in sustainable metal packaging and creates a centralized location to support our customers with design support, advanced technical services, process development, engineering, and training.

At the ribbon cutting ceremony, Ernest Haynes, President of Sonoco’s metal packaging business stated, “We are excited to unveil our new state-of-the-art center which supports another milestone in our pursuit of excellence and our unwavering commitment to high-quality, precision manufactured metal packaging. Our new center will foster even greater collaboration and productivity in a unified workspace where Sonoco will bring together can makers, brand owners, industry suppliers, and scientific partners to harness the latest advances in technology and deliver greater value to our customers.”

Sonoco is a leading manufacturer of sustainable metal packaging for food and beverage products and one of the largest aerosol can producers in North America. Sonoco produces steel tinplate 2-piece and 3-piece aerosol and food cans along with closures and packaging components from twelve manufacturing operations across the U.S.

Technical support is in high demand, particularly for shelf-life testing and package performance. Sonoco specifically offers expertise in Package Performance & Integrity Testing, Real-time Shelf-Life Testing, Electrochemical Corrosion Testing, among others. Additionally, Sonoco offers customized training opportunities accommodating large groups and facilitating comprehensive education on can manufacturing processes to accelerate production ramps, increase throughput, and improve quality.

Sonoco President and CEO, Howard Coker, commented, "We continue to invest in our packaging portfolio to leverage new technologies and innovations and provide our customers with the most modern and efficient solutions in the industry. The opening of our new Steel Can Technology Institute stands as a testament to our unwavering commitment to provide superior solutions in leading-edge technology, design, and manufacturing for our customers."

For more information about Sonoco and our metal packaging business please visit us at https://www.sonoco.com/na/products-services/consumer-packaging/metal-packaging or follow us on social media at https://www.linkedin.com/company/sonoco.

About Sonoco
With net sales of approximately $6.8 billion in 2023, Sonoco has approximately 22,000 employees working in more than 300 operations around the world, serving some of the world’s best-known brands. With our corporate purpose of Better Packaging. Better Life., Sonoco is committed to creating sustainable products and a better world for our customers, employees, and communities. Sonoco was named one of America’s Most Responsible Companies by Newsweek. For more information on the Company, visit our website at www.sonoco.com.

Contact: Lisa Weeks
lisa.weeks@sonoco.com

FAQ

What is the new facility announced by Sonoco in May 2024?

Sonoco announced the opening of a new multi-million-dollar, state-of-the-art Technical and Engineering Center for Metal Packaging Innovation in Columbus, Ohio.

What features does Sonoco's new Technical and Engineering Center include?

The new center includes modern laboratories, prototyping equipment, training rooms, and collaboration spaces.

How will Sonoco's new facility benefit the metal packaging industry?

The new facility will enhance collaboration among can makers, brand owners, industry suppliers, and scientific partners, thus advancing sustainable metal packaging.

What services will Sonoco provide at the new Technical and Engineering Center?

Sonoco will offer design support, advanced technical services, process development, engineering, and training at the new center.

What is Sonoco's position in the metal packaging market?

Sonoco is a leading manufacturer of sustainable metal packaging for food and beverage products and one of the largest aerosol can producers in North America.