Sonoco Plastics increasing prices for all resin-based products in North America

Sonoco (NYSE:SON), one of the largest diversified global packaging companies, today announced it is implementing a price increase for all resin-based products sold in North America. The increase amounts by formulation are: CPET/PET – 15 percent, PE – 10 percent, PP – 5 percent. The increase, which impacts thermoformed, injection-molded and extrusion-molded products, is effective with shipments beginning October 15, 2017.

“With the unfortunate events surrounding Hurricanes Harvey and Irma, we are seeing a significant inflationary spike affecting the entire industry, not just Sonoco,” said Jeff DiPasquale, vice president and general manager for Sonoco’s Global Plastics division.  “The unprecedented occurrence of these natural disasters has greatly impacted the North American resin supply chain in terms of both production and distribution. We are doing everything possible to minimize the impact of this disruption to our customers.”
http://phx.corporate-ir.net/phoenix.zhtml?c=82014&p=irol-newsArticle&ID=2304028

Related Posts

Huhtamaki Trialling a New Fiber Based Ready Meal Packaging

A trial version of a renewable fiber based ready meal packaging will be tested with consumers in the UK starting end May. Huhtamaki is part of a three-party consortium developing an alternative to existing plastic ready meal trays. The concept is tested with two Italian style ready meals at a major UK retail chain in May-June. The trial is part of a project aiming at developing a bio-based ready meal package for the UK market. The new tray offers a viable alternative to black plastic packaging, which is problematic for the waste processers' lasers that identify materials for recycling. Ready meal consumption continues to grow throughout Europe and new sustainable solutions are welcome. The new material feels like cardboard and is made of fiber derived from Forest Stewardship Council certified sources. Click Read More below for additional information.

Pregis Announces Senior Leadership Changes

Pregis®, a leading global manufacturer of flexible packaging and protective packaging solutions, today announced it is expanding its senior leadership roles, with Kevin Baudhuin adding the title of chairman in addition to his chief executive officer role, and Laurin Darnell promoted to chief operating officer. These leadership changes will allow Pregis to continue driving long-term growth while maintaining continuity as it builds upon recent successes. Baudhuin will intensify his focus on strategic growth, M&A, and advancing the company’s ESG efforts. Darnell assumes responsibility for day-to-day business operations, leading the company’s global operations and maintaining its growth trajectory to double in size in the next few years.

Smurfit Kappa celebrates 50 years of innovative paper solutions in Mengíbar

Smurfit Kappa’s Mengíbar Paper Mill in Spain is celebrating its 50th anniversary. The mill first opened its doors in 1968 and quickly established itself as a strategic partner for innovative paper solutions. The Mengíbar Paper Mill uses recycled fibres to make high-quality containerboard for corrugated packaging. The mill’s location in Southern Spain puts it in a prime position to serve Smurfit Kappa’s extensive network of corrugated plants. The close integration between the Mengibar Paper Mill and the corrugated plants enables Smurfit Kappa to facilitate customers’ needs at a moment’s notice. With 121 employees, the mill is a key local employer with many families having two and sometimes even three generations working there since the mill opened 50 years ago. Click Read More below for additional information.
Back To Top
×Close search
Search