Consumables

Sonoco Protective Solutions Announces Price Increases on EPS, Corrugated Materials

Thursday 14. November 2013 - Sonoco (NYSE: SON) today announced price increases of 4.2 percent on fabricated packaging assemblies containing EPS and/or PE and corrugated materials, 3.7 percent on all EPS parts and components, and 15 percent on corrugate packaging. The increases will be effective January 1, 2014, and are necessary to adjust pricing for inflationary input costs incurred since mid-2012.

“Since Sonoco’s acquisition of Tegrant, we have worked hard to provide price stability to our customers. To this end, we have been successful in maintaining stable pricing for more than a year,” said  Greg Powell , vice president, Consumer Protective Solutions. “Our procurement and productivity initiatives have helped mitigate or otherwise reduce the impact of increases in resin costs, corrugated (linerboard) and energy. However, a portion of these costs have become unavoidable and are now part of our ongoing cost structure. As a result, we are faced with the need to adjust 2014 prices to reflect these higher input costs.”
Sonoco is a leading protective packaging solutions and component provider with 28 manufacturing and fabrication facilities located throughout the U.S. and Mexico. Sonoco supplies material-neutral packaging solutions components to customers in the automotive, appliance, medical, technology, HVAC, kitchen and bath and furniture industries