Sonoco-Alcore S.a.r.l. has just announced it will raise prices by £40 per tonne on all recycled paperboard grades sold in the United Kingdom. The price change will be effective with shipments on or after August 15, 2016.
"This price increase is in direct response to rising raw material costs," said Phil Woolley, director, Paper Europe. "We will continue to monitor market conditions to determine if additional pricing actions will be required in other European markets."
Sonoco Alcore S.a.r.l. is wholly-owned by Sonoco (NYSE:SON) and operates 29 tubes and cores plants and four paperboard mills in Europe, including the Company's uncoated recycled paperboard mill in Stainland, U.K.
About Sonoco
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of approximately $5 billion, the Company has 20,800 employees working in more than 330 operations in 34 countries, serving some of the world's best known brands in some 85 nations. Sonoco is a proud member of the 2015/2016 Dow Jones Sustainability World Index. For more information on the Company, visit our website at www.sonoco.com
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Sonoco Products Company