Sonoco Ups Paperboard (NA) & Tube/Core Prices (Europe)

Published: July 17, 2002, By PRESS RELEASE

BRUSSELS, BELGIUM & HARTSVILLE, SC, USA—Sonoco reports it will increase prices for its paper-based engineered carriers (tubes and cores) by 7–9% in Continental Europe, effective 12 August, 2002. According to Charles F. Paterno, VP, Sonoco Europe, prices in the U.K. will be reviewed during August and UK customers could possibly experience "further increases there as well."

Sonoco previously announced a price increase for these products in mid-June 2002, saying escalating costs in almost all operating areas drove the increase. "This second increase is primarily a result of rapidly rising recovered paper costs," adds international manufacturer/converter.

And Over On the Other Side of the Atlantic...
Sonoco says it will raise prices on uncoated recycled paperboard by $40 per ton in the US and Canada, effective July 29, 2002. The company previously announced a $50 per ton increase, effective June 4, 2002, in response "to increasing general operating costs and increased costs for old corrugated containers (OCC), Sonoco's primary raw material." Co. adds it was its first general price increase for paperboard in two-and-a-half years.

Says Jim Bowen, sr. VP, global paper operations: "This second paperboard price increase is in response to significant further increases in OCC prices. Despite this surge in cost for recovered fiber, we will continue working diligently with our customers to help identify alternative cost-reduction opportunities and ways to add value to their businesses.

More info @ sonoco.com.