HARTSVILLE, S.C., Oct. 02, 2017 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON), one of the largest diversified global packaging companies, today announced it is implementing a price increase for all resin-based products sold in North America. The increase amounts by formulation are: CPET/PET – 15 percent, PE – 10 percent, PP – 5 percent. The increase, which impacts thermoformed, injection-molded and extrusion-molded products, is effective with shipments beginning October 15, 2017.
“With the unfortunate events surrounding Hurricanes Harvey and Irma, we are seeing a significant inflationary spike affecting the entire industry, not just Sonoco,” said Jeff DiPasquale, vice president and general manager for Sonoco’s Global Plastics division. “The unprecedented occurrence of these natural disasters has greatly impacted the North American resin supply chain in terms of both production and distribution. We are doing everything possible to minimize the impact of this disruption to our customers.”
For more information about Sonoco’s complete line of products or to learn more about current pricing, please visit the Company’s website or contact the Company at +800-377-2692.
Founded in 1899, Sonoco (NYSE:SON) is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of approximately $4.8 billion, the Company has 20,000 employees working in more than 300 operations in 33 countries, serving some of the world’s best known brands in some 85 nations. For more information on the Company, visit www.sonoco.com.
Source: Sonoco Products Company