HARTSVILLE, S.C., June 21, 2013 /PRNewswire/ -- Sonoco (NYSE: SON) today announced that it will raise the price for all grades of uncoated recycled paperboard (URB) products by $40 per ton, effective with shipments in the United States and Canada beginning July 8, 2013.
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"Unfortunately, the price increase is necessary to recover rising recovered paper and other raw materials costs," said Marty Pignone, vice president, Primary Materials Group, North America. "The posted price for old corrugated containers (OCC) in the Southeast U.S. has risen approximately 60 percent since September 2012 and OCC being sold in the market today is running above the posted price of $120 per ton. In addition, demand for all grades for URB products is strong."
Sonoco is one of the largest producers of uncoated recycled paperboard in the United States and Canada, producing more than 1 million tons annually from 13 mills. For more information about Sonoco's complete line of URB paper products or to learn more about current pricing, please visit the Company's website or contact the Company at +800-377-2692.
About Sonoco
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging and packaging supply chain services. With annualized net sales of approximately $4.8 billion, the Company has more than 20,000 employees working in 348 facilities in 35 countries, serving some of the world's best known brands in some 85 nations. Sonoco is a proud member of the 2012/2013 Dow Jones Sustainability World Index. For more information on the Company, visit our website at www.sonoco.com.
SOURCE Sonoco
Roger Schrum, +843-339-6018, roger.schrum@sonoco.com