Sonoco Signs Five-Year Contract With Gillette
HARTSVILLE, S.C., Dec. 8 /PRNewswire/ -- Sonoco (NYSE: SON) has signed a new five-year agreement to operate Gillette Company's razors and blades pack- centers in North America at Devens, Massachusetts, and in Europe at Hemel Hempstead, Hertfordshire, England, it was announced today by Harris E. DeLoach, Jr., president and chief executive officer.
(Photo: http://www.newscom.com/cgi-bin/prnh/19991006/SNCLOGO )
This agreement, effective January 1, 2001, replaces the current agreement with Gillette for Devens only. Sonoco did not previously operate the European center. Under this agreement, Sonoco will receive a fixed fee as well as variable compensation based on savings realized from productivity and purchasing initiatives.
"Under our agreement, Sonoco will be managing Gillette's packaging supply chain for all its razors and blades in North America and Europe," said DeLoach. "This relationship with Gillette has proven to be beneficial for both companies. We are particularly pleased to have earned Gillette's confidence and to have been awarded the contract extension in North America and the new agreement for Europe," added DeLoach.
"This contract is indicative of Sonoco's growing role as a partner with its customers in helping reduce costs within the packaging supply chain, and we are actively exploring similar opportunities," concluded DeLoach.
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 at www.sonoco.com.
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