|Sonoco Protective Solutions Announces Price Increases to Keep Pace with Rising Raw Material Costs|
These increases are in response to a confluence of macroeconomic factors creating an inflationary environment for multiple raw materials used by the Protective Solutions business of Sonoco, which serves markets ranging from automotive and consumer durables, to pharmaceuticals and biologics.
Styrene monomer prices have increased rapidly since
Sonoco’s Sonopost® product offerings employ a high-strength paperboard containing predominantly Southeast OCC (old corrugated containers) raw material feedstock. “The price of OCC has increased each of the past five months due to high export demand, strong demand from U.S. mills which use recycled paper and slow collections of OCC,” said
These external factors are beyond Sonoco’s control, leaving the company with no choice but to increase prices on its temperature assurance and protective packaging product lines. Market indicators point to continued upward pricing pressure on these raw materials, which could lead to additional price increases in the future.
Sonoco is a leading temperature assurance and protective packaging solutions provider, with 28 manufacturing and fabrication facilities located throughout the U.S. and
For more information about Sonoco Protective Solutions’ products or to learn more about current pricing, please visit www.sonocoprotectivesolutions.com or www.thermosafe.com or contact Sonoco Protective Solutions at +800-289-9966.