Sonoco Implementing Price Increase for all Paperboard Converted Products

Rhea-AI Summary

Sonoco (SON) to Raise Price for Paperboard Products by Minimum of 6% in 2024

HARTSVILLE, S.C., Dec. 18, 2023 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON) today announced it will raise the price for all converted paperboard products by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after February 1, 2024.

“This price increase is necessary due to continued increases in costs for uncoated recycled paperboard (URB), our primary raw material,” said Mike Thompson, Vice President of Sales and Marketing for Sonoco’s North American Converted Paper Products Division.

Contact Information:
Lisa Weeks
Vice President of Investor Relations & Communications
lisa.weeks@sonoco.com
843-383-7524

About Sonoco
Founded in 1899, Sonoco (NYSE:SON) is a global provider of packaging products. With net sales of approximately $7.3 billion in 2022, the Company has approximately 22,000 employees working in more than 320 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. The Company ranked first in the Packaging sector on Fortune’s World’s Most Admired Companies for 2022 and was also included in Barron’s 100 Most Sustainable Companies for the fourth consecutive year. For more information on the Company, visit our website at www.sonoco.com.

 

 

FAQ

Why is Sonoco raising the price for paperboard products?

Sonoco is raising the price due to continued increases in costs for uncoated recycled paperboard (URB), their primary raw material.

When will the price increase for Sonoco's paperboard products take effect?

The price increase will be effective with shipments in the United States and Canada on or after February 1, 2024.

What is the ticker symbol for Sonoco?

The ticker symbol for Sonoco is SON.

Who is the Vice President of Sales and Marketing for Sonoco's North American Converted Paper Products Division?

Mike Thompson is the Vice President of Sales and Marketing for Sonoco's North American Converted Paper Products Division.

How can I contact Sonoco's Vice President of Investor Relations & Communications?

You can contact Lisa Weeks, the Vice President of Investor Relations & Communications, at lisa.weeks@sonoco.com or 843-383-7524.