(GLOBE NEWSWIRE via COMTEX) --BRUSSELS, Belgium, July 05, 2017 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. today announced it will again raise prices by a further €50 per tonne (£40 / tonne) on all recycled paperboard grades sold in the Company's European regions. The price change is effective with shipments on or after 17th July 2017.
"Demand for raw materials has continued to rise throughout the year as a result of China's "National Sword" initiative, new capacity within the paper packaging sector, and the European economy currently being stronger than we have seen in recent years. The resultant continued increase in raw material costs are again unsustainable and we now have no choice but to pass these increases through into the market," said Phil Woolley, Director - Paper Europe.
Sonoco-Alcore S.a.r.l. is wholly owned by Sonoco (NYSE:SON) and operates 29 tubes and cores plants and four paperboard mills in Europe, including the Company's largest European uncoated recycled paperboard mill in Cirie, Italy.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sonoco Products Company via Globenewswire