Sonoco Announces Paperboard Price Increase
HARTSVILLE, S.C., Feb. 23 /PRNewswire/ -- Sonoco (NYSE: SON) will raise prices on uncoated recycled paperboard by $30 per ton effective April 3, it was announced today by Peter C. Browning, president and chief executive officer.
(http://www.newscom.com/cgi-bin/prnh/19991006/SNCLOGO )
The Company consumes internally approximately 85% of its recycled paperboard production for conversion into packaging products. Sonoco produces in excess of one million tons of recycled paperboard annually in the United States and approximately 1.7 million tons worldwide.
"We are initiating this increase as a partial pass through of increasing costs in energy, freight, chemicals, repair parts and other vital supplies. At the same time, we remain committed to minimizing the portion of costs passed to our customers by continuing our rigorous cost-reduction initiatives," said Jim Bowen, vice president and general manager - paper division.
Sonoco, founded in 1899, is a $2.5 billion manufacturer of industrial and consumer packaging products with over 285 operations in 33 countries serving customers in 85 nations.
SOURCE Sonoco
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CONTACT: Allan V. Cecil, Vice President of Sonoco, 843-383-7524, or allan.cecil@sonoco.com
CAPTION: SNCLOGO SONOCO LOGO Sonoco Logo. (PRNewsFoto)[KC] HARTSVILLE, SC USA 10/06/1999