Sonoco-Alcore to Increase Tube & Core Prices in the EMEA Region

As Glastonbury festival gets underway, our new research reveals that 70% of people who have bought a tent admit they have used it just once. Looking ahead, over half (52%) admit they are likely to buy a tent and use it for just one event, such as a festival, suggesting that polyester tents are the single-use plastic everyone is overlooking.  According to estimates, about 250,000 tents made of polymer-based nylon or polyester are abandoned annually, leading to the creation of 'tent trash' fields and contributing to 900 tonnes of waste. This ultimately results in the generation of more single-use plastic. Our research revealed that 18% of adults consider tents as the worst single-use plastic item for the environment. Despite this, 19% of tent owners have never thought about the environmental impact of tents. We have worked with EnviroTent, a company that designs cardboard tents, to address this pressing issue. Together, we have created a 100% recyclable cardboard tent, which could be a game-changer in the fight against 'tent trash'. Tayla Evans, the founder of EnviroTent, is urging festival organisers to consider using cardboard camping to help end 'tent trash.' 

Amcor has been recognized for its AmSky™ and AmPrima™ more sustainable packaging solutions, earning a place on Walmart’s ‘Circular Connector’ platform. Circular Connector, established by retail giant Walmart, is a platform that makes it easier for sourcing teams and brands to quickly find more sustainable packaging solutions for the products they put on Walmart shelves. Being able to easily source more sustainable packaging solutions will enable the brands, and Walmart, to achieve their sustainability goals while driving a circular packaging economy. AmSky offers a world’s-first, recycle-ready blister pack for pharmaceuticals. AmPrima is a portfolio of recycle-ready packaging solutions with a low carbon footprint, applicable in different packaging formats from bags to packs and pouches, for both solid and liquid content.

Sonoco announced it has entered into a new five-year $750 million revolving credit facility (the “Credit Agreement”) with a syndicate of banks. The Credit Agreement replaces an existing credit facility entered into on July 20, 2017, and reflects substantially the same terms and conditions. “We are pleased to upsize our prior $500 million committed credit facility with a new $750 million revolver and extend the maturity date for an additional five years. This new credit facility provides us with additional financial flexibility and reflects our strong credit profile. It also illustrates the solid relationships with our commercial banks,” said Julie Albrecht, Sonoco Vice President and Chief Financial Officer.