Sonoco Implementing Price Increases for Paperboard Tubes and Cores

Sonoco (NYSE:SON) today announced it will increase prices for its paper-based tubes and cores by a minimum of 6 percent in the United States and Canada, effective with shipments beginning July 16, 2018.

“The price increase is necessary due to ongoing increases in uncoated recycled paperboard (URB), the largest input cost for tubes and cores. URB demand remains strong and the marketplace is extremely tight, with operating rates pushing 100 percent,” said Doug Schwartz, division vice president of sales and marketing. “In addition, the rising cost of transportation remains a headwind due to lack of capacity linked to recently imposed driver regulations. As a result, Sonoco will be implementing a new policy of selling certain large diameter tubes that have less space utilization yields at F.O.B. from our operations.”
http://investor.sonoco.com/news-releases/news-release-details/sonoco-implementing-price-increases-paperboard-tubes-and-cores-1?field_nir_news_date_value%5Bmin%5D=2017

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