News Details

Sonoco Announces New Pack Center in Germany for Procter & Gamble

December 5, 2003

HARTSVILLE, S.C., Dec. 5 /PRNewswire-FirstCall/ -- Sonoco (NYSE: SON) has opened a new pack center in Euskirchen, Germany, where the Company will pack point-of-purchase displays for Procter & Gamble Company's European Babycare Division, it was announced today by Charles L. Sullivan, Jr., Sonoco's senior vice president, Global Consumer Products.

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Sonoco's pack center, located on the same industrial zone as Procter & Gamble Babycare's German manufacturing facilities and Procter & Gamble Germany's main distribution center, will be packing thousands of displays annually, and the facility will be able to handle other short notice product manipulation tasks as Procter & Gamble requires them.

Although the pack center will initially be small, it is regarded by Sonoco and Procter & Gamble as a means whereby Procter & Gamble can test Sonoco's capabilities ahead of possible larger projects in 2004 and beyond.

Thomas Scheller, Procter & Gamble Babycare's supply chain manager, said, "We chose Sonoco for this operation because of their long history of excellence as an outsourcing partner in the packaging industry combined with their attractive cost structure. We anticipate establishing a close partnership between Procter & Gamble and Sonoco."

"We have enjoyed a long and mutually beneficial relationship with Procter & Gamble. The pack center will be developed to Procter & Gamble's exacting quality standards, and we are excited about this newest opportunity to prove our ability to add value for them," said Sullivan.

Sonoco also operates pack centers for The Gillette Company in the United States and Europe and for Hewlett-Packard in the United States.

Sonoco, founded in 1899, is a global manufacturer of industrial and consumer products and provider of packaging services in some 85 nations. Additional information about the Company can be obtained at the Sonoco Web site at www.sonoco.com.

FORWARD-LOOKING STATEMENTS AND OTHER INFORMATION

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. The words "estimate," "project," "intend," "expect," "believe," "anticipate," "objective," "goal," and similar expressions identify forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding offsetting high raw material costs, adequacy of income tax provisions, refinancing of debt, adequacy of cash flows, effects of acquisitions and dispositions, adequacy of provisions for environmental liabilities and financial strategies and the results expected from them, and producing improvements in earnings. Such forward-looking statements are based on current expectations, estimates and projections about our 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 our 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; fluctuations in obligations and earnings of pension and postretirement benefit plans; ability to maintain market share; pricing pressures and demand for products; continued strength of our paperboard-based engineered carrier and composite can operations; anticipated results of restructuring activities; resolution of income tax contingencies; ability to successfully integrate newly acquired businesses into the Company's operations; currency stability and the rate of growth in foreign markets; use of financial instruments to hedge foreign exchange, interest rate and commodity price risk; actions of government agencies; and loss of consumer confidence and economic disruptions resulting from terrorist activities.

Information about the Company's use of non-GAAP financial measures, why management believes presentation of non-GAAP financial measures provides useful information to investors about the Company's financial condition and results of operations, and the purposes for which management uses non-GAAP financial measures is included in the Company's 2002 Annual Report on Form 10- K filed with the Securities and Exchange Commission. 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 Web site, the Company's investor relations department and the Company's Web site, www.sonoco.com.

SOURCE Sonoco