News Release

Hartsville, S.C., Nov. 3 /PRNewswire/ -- Sonoco (NYSE: SON) has purchased the composite can operations of Amcor Packaging (Australia) for an undisclosed price, it was announced today by Harris E. DeLoach, Jr., president and chief executive officer. The acquisition is expected to be accretive in the first year.

(Photo: http://www.newscom.com/cgi-bin/prnh/19991006/SNCLOGO )

The Amcor operations consist of two plants, one in suburban Melbourne and the other in Sydney, and they primarily serve the spice, food and cleanser sectors. Sales for the two plants in fiscal 1999/2000 amounted to A$13 million (US$7.8 million). Sonoco currently has one composite can line in a plant in Sydney serving the caulk market.

"Acquiring the Amcor can plants will further strengthen our position in the Asia/Pacific market. This acquisition is indicative of our continuing commitment to position composite cans on a global basis as a major growth business for Sonoco," said DeLoach.

Sonoco, the global market leader in composite cans, has composite can operations in the United States, Canada, Brazil, France, Germany, United Kingdom, Indonesia, Malaysia, Australia, Venezuela, Mexico and Belgium.

Sonoco, founded in 1899, is a $2.5 billion manufacturer of industrial and consumer packaging products and provider of packaging services, with 285 operations in 33 countries serving customers in some 85 nations. For more information on Sonoco, visit our web site www.sonoco.com .

Statements included herein that are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are based on current expectations, estimates and projections about the company's industry, management's beliefs and certain assumptions made by management. Such information includes, without limitation, discussions as to estimates, expectations, beliefs, plans, strategies and objectives concerning the company's future financial and operating performance.

These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements. Such risks and uncertainties include, without limitation: availability and pricing of raw materials; success of new product development and introduction; ability to maintain or increase productivity levels; international, national and local economic and market conditions; ability to maintain market share; pricing pressures and demand for products; continued strength of the company's paperboard-based tube, core and composite can operations; and currency stability and the rate of growth in foreign markets. Additional information concerning some of the factors that could cause materially different results is included in the company's reports on Forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. Such reports are available from the Securities and Exchange Commission's public reference facilities and its Internet website or from the company's investor relations department.
SOURCE Sonoco
Web site: http: //www.sonoco.com
Photo: NewsCom: http: //www.newscom.com/cgi-bin/prnh/19991006/SNCLOGO AP Archive: http://photoarchive.ap.org PRN Photo Desk, 888-776-6555 or 201-369-3467
CONTACT: Allan V. Cecil, Vice President of Sonoco, 843-383-7524, or e-mail, allan.cecil@sonoco.com
CAPTION: SNCLOGO SONOCO LOGO Sonoco Logo. (PRNewsFoto)[KC] HARTSVILLE, SC USA 10/06/1999