Sonoco-Alcore to Increase Prices for Tubes & Cores in Europe
(GLOBE NEWSWIRE via COMTEX) --BRUSSELS, Belgium, March 20, 2017 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. today announced it will raise prices for paper-based tubes and cores by up to 8.5 percent, depending on product category, effective from shipments beginning on 15th April 2017.
"The increase follows a continuous rise over the past six months in coreboard prices across Europe driven predominantly by higher OCC costs peaking now in a 60 Euro per ton or a 15 percent increase in coreboard," said Karsten Kemmerling, Director of Sales and Marketing - Tubes and Cores, Europe. "We are doing all we can to maintain tight cost control, but with coreboard a dominant part of our cost, we are unable to offset such movement."
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.
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