Displaying items by tag: sonoco

Tuesday, 14 September 2010 11:00

Sonoco-Alcore Focuses on New Products at PacTec 2010

Sonoco-Alcore S.a.r.l, a wholly owned subsidiary of Sonoco (NYSE: SON), one of the largest diversified global packaging companies, will exhibit a number of new products at the PacTec Exhibition, September 21-24, 2010. Held at the Helsinki Exhibition & Convention Centre, PacTec is one of the largest packaging industry trade shows within the Baltic Sea Region, and is held every three years. Sonoco-Alcore will showcase its new products in various segments including paper, film, textiles and specialty.

Leading Innovation

Among the new products that will be featured are Intellicore(TM) radio frequency identification (RFID) enabled paper cores for roll tracking in the paper industry; Dricore(TM) rain-resistant paperboard cores for the agricultural industry; and FirmaLoad(R) carriers, environmentally responsible paperboard pallets for transporting bulk bags.

Within the agricultural film segment, Sonoco-Alcore has worked closely with silage film producers to develop the DriCore paperboard core, a recyclable high- performance, water-resistant core. Its water-resistant properties allow it to be stored outside for up to 20 days without sacrificing core strength or stability. A live demonstration of the DriCore product within a "rain simulator" will be used to showcase its rain-resistant properties at the exhibition.

Also on display will be the industry-changing Intellicore paper roll, which utilizes RFID technology to enable automatic paper roll inventory tracking for paper manufacturers from initial production all the way through to consumption. The Intellicore technology can also be utilised in the high-end film and textiles industries. Most importantly, it allows manufacturers to monitor and streamline production in real time, minimizes buffer stocks and working capital, and ensures accurate order fulfillment.

The Firmaload carrier is an environmentally friendly paperboard product that is used in the FIBC industry as a more efficient and effective means of transporting big bags. The FirmaLoad carrier saves on cost, space and freight versus wooden pallets. More information about Sonoco's range of pallet products can be found at www.sonocotranspack.com.

A number of other key products will be exhibited at PacTec during the three-day exhibition, including the M-Core(TM) core, a high-performance paper mill core for the printing industry, the Printex(R) core for the textile industry and a range of products for all served industries.

To find out more about the products exhibited at PacTec, visit booth 6 e 5 or contact This email address is being protected from spambots. You need JavaScript enabled to view it..

About Sonoco

Sonoco, founded in 1899, is a global manufacturer of consumer and industrial packaging and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations. Sonoco is a proud member of the Dow Jones Sustainability World Index. For more information on Sonoco, visit www.sonoco.com.

Published in European News
Tagged under

Sonoco, one of the largest diversified global packaging companies, announced that Brad Weller has been promoted to division vice president and managing director, Asia, with responsibility for all of Sonoco's industrial and consumer businesses throughout Asia. In this new position, Weller joins Sonoco's Management Committee and reports to John Colyer, vice president, Global Industrial Products, and Rodger Fuller, vice president, Global Rigid Paper and Closures.

Prior to this promotion, Weller was division general manager, Industrial Products, Asia. He will remain in Sonoco's Asia headquarters in Singapore. Weller will be responsible for Sonoco's industrial and consumer packaging operations in China, Indonesia, Malaysia, Singapore, Taiwan and Thailand.

Weller has 25 years of experience with Sonoco, serving in a number of management, marketing and sales leadership positions in the Industrial Products division in the United States, Europe and Asia. Brad received a B.A. degree from the University of South Carolina.

Ernest Yong has joined Sonoco as general manager, Consumer. In this position, Yong is focused on continuing to grow Sonoco's consumer packaging sales throughout Asia. He reports to Weller and is based in Singapore.

Prior to joining Sonoco, Yong was regional marketing and public relations manager for a large consumer products company's retail, portioned and accessories coffee business in Asia. In addition to management leadership, Yong was an external auditor for Ernst & Young in Singapore. He holds a B.S. degree in accounting from Nanyang Technological University, Singapore, and an advanced degree in marketing from the Marketing Institute of Singapore.

Mark Chenhall has been named managing director for Sonoco's industrial converting and consumer packaging businesses in Australia and New Zealand, reporting to Fuller. Chenhall joined Sonoco in 1987 and previously was general manager for Sonoco's industrial and consumer businesses in Australia. He also has held management positions in sales, marketing and operations in Australia.

About Sonoco

Founded in 1899, Sonoco is a $3.6 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations. Sonoco is a proud member of the Dow Jones Sustainability World Index. For more information on the Company, visit our Web site at www.sonoco.com

Published in North American News
Tagged under

Sonoco one of the largest global diversified packaging companies, today said it is voluntarily targeting a 15 percent reduction in greenhouse gas emissions (GHG) from the Company's more than 300 global manufacturing plants by 2014.

Harris E. DeLoach, Jr., chairman, president and chief executive officer, announced the new voluntary emission reduction goal in a letter to stakeholders from the Company's 2009-2010 Sustainability Report which was issued today. The report is available on the Company's Web site at www.sonoco.com.

"Last year, we committed to reducing GHG emissions from our uncoated recycled papermills in the United States and Canada by approximately 15 percent by 2013. I am pleased to report that our efforts in 2009 led to an approximate 13 percent reduction," DeLoach said. "We have put in place a global Web-based environmental management system which collects GHG emissions from all of our international manufacturing facilities. We have taken this data, established 2008 as our baseline year, and set a goal of reducing GHG emission from our more than 300 manufacturing facilities by 15 percent by 2014."

DeLoach said the significant progress Sonoco made in 2009 toward reducing GHG emission came from decreasing energy consumption and by converting steam boilers at some of the Company's paperboard mills to less carbon-intensive fuels. As an example, overall energy consumption at Sonoco's North American paperboard mills was reduced by 3.3 percent in 2009, which saved the Company approximately $2.2 million and reduced GHG and other emissions. Further projects are underway at Company mills in North America, Italy and Greece.

Sonoco's 20-page Sustainability Report reviews actions the Company is taking in the areas of environmental stewardship, community service and economic performance. The report provides a scorecard of initiatives, including efforts to provide more sustainable packaging products and recycling services offered by the Company to the Company's diverse consumer and industrial packaging businesses.

About Sonoco

Founded in 1899, Sonoco is a $3.6 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations. Sonoco is a proud member of the Dow Jones Sustainability World Index. For more information on the Company, visit our Web site at www.sonoco.com.

SOURCE: Sonoco

Sonoco
Robin Montgomery, 843-383-7509

This email address is being protected from spambots. You need JavaScript enabled to view it.

Published in North American News
Tagged under
Thursday, 22 July 2010 10:22

Sonoco's Board Declares Common Stock Dividend

The Board of Directors of Sonoco (NYSE: SON) today declared a $.28 per share quarterly common stock dividend. The dividend will be payable on September 10, 2010, to shareholders of record as of August 20, 2010.

According to Harris E. DeLoach Jr., chairman, president and chief executive officer, this is the 341st consecutive quarter, dating back to 1925, that the Company has paid cash dividends to shareholders.

About Sonoco

Founded in 1899, Sonoco is a $3.6 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations. Sonoco is a proud member of the Dow Jones Sustainability World Index. For more information on the Company, visit our Web site at www.sonoco.com.

SOURCE: Sonoco

Published in North American News
Tagged under

Sonoco (NYSE: SON), one of the largest diversified global packaging companies, has completed the acquisition of Associated Packaging Technologies, Inc. (APT), North America's largest manufacturer and supplier of Crystallized Polyethylene Terepthalate (CPET) containers to the frozen food industry, it was announced today by Harris E. DeLoach Jr., chairman, president and chief executive officer.

The all-cash purchase price, including the cost of paying off various obligations of APT, was approximately $120 million, subject to certain possible adjustments. The acquisition is expected to be modestly accretive in 2010 and is expected to generate annualized sales of approximately $150 million. The transaction closed on June 29, 2010. APT was previously majority owned by investment funds controlled by Castle Harlan, Inc.

Founded in 1993, APT is a leading provider of dual-ovenable, food packaging serving the frozen food industry in North America, Europe and Australia/New Zealand. The Company operates four state-of-the-art CPET thermoforming manufacturing facilities in Cambridge, Ontario, Canada; Chillicothe, Missouri; Waynesville, North Carolina; and Carrickmacross, Ireland, and employs more than 400 workers. In addition to being able to manufacture approximately 3 billion CPET containers annually, APT has monolayer and multilayer barrier polypropylene container capabilities. The company also is a pioneer in the development of recycled PET (RePET) frozen food trays.

"With this acquisition, Sonoco has significantly expanded its existing thermoforming plastic container capabilities into the growing global frozen, chilled and ready-to-eat food markets," said DeLoach. "While APT is today the leading global supplier of CPET containers, we believe its proprietary material formulations and rotary thermoforming technology provide a strong platform for significant product development and growth. In addition, this acquisition will help accelerate Sonoco's current development of multilayer barrier polypropylene food containers."

About Sonoco

Founded in 1899, Sonoco is a $3.6 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations. Sonoco is a proud member of the Dow Jones Sustainability World Index. For more information on the Company, visit our Web site at http://www.sonoco.com.

Forward-looking Statements

Statements included herein that are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities and Exchange Act of 1934, as amended. The words "estimate," "project," "intend," "expect," "believe," "consider," "plan," "anticipate," "objective," "goal," "guidance" and similar expressions identify forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding adequacy of cash flows, anticipated amounts and uses of cash flows, financial strategies and the results expected from them, continued payments of dividends, stock repurchases and producing improvements in earnings.

These forward-looking statements are based on current expectations, estimates and projections about our industry, management's beliefs and assumptions made by management. Such information includes, without limitation, discussions as to guidance and other estimates, expectations, beliefs, plans, strategies and objectives concerning our future financial and operating performance. These statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Therefore, actual results may differ materially from those expressed or forecasted in such forward-looking statements.

The Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise.

Additional information concerning some of the factors that could cause materially different results is included in the Company's reports on forms 10-K, 10-Q and 8-K filed with the Securities and Exchange Commission. Such reports are available from the Securities and Exchange Commission's public reference facilities and its Web site, http://www.sec.gov, the Company's investor relations department and the Company's Web site, http://www.sonoco.com.

SOURCE: Sonoco

Sonoco
Roger Schrum, 843-339-6018
This email address is being protected from spambots. You need JavaScript enabled to view it.

Published in North American News
Tagged under

Sonoco, one of the largest diversified global packaging companies, will speak to the investment community on Monday, June 14, 2010, at the Wells Fargo Securities 2010 Industrials Conference to be held at The Waldorf Astoria Hotel in New York City.

Harris E. DeLoach, Jr., chairman, president and chief executive officer, and Charles J. Hupfer, senior vice president and chief financial officer, are scheduled to speak at 11:45 a.m. Eastern Time. The audio presentation will be Webcast and can be accessed via the Internet at http://www.sonoco.com, under the "Latest News" section.

About Sonoco

Sonoco, founded in 1899, is a $3.6 billion global manufacturer of consumer and industrial packaging products and provider of packaging services, with more than 300 operations in 35 countries serving customers in some 85 nations. The Company is a proud member of the Dow Jones Sustainability World Index. For more information on Sonoco, visit our Web site at http://www.sonoco.com.

SOURCE: Sonoco

Sonoco
Roger Schrum, 843-339-6018
This email address is being protected from spambots. You need JavaScript enabled to view it.

Published in Financial News
Tagged under

Sonoco one of the largest diversified global packaging companies, today announced that it is investing $2.8 million at its 100 percent uncoated recycled paper mill, located in Holyoke, Massachusetts. The investment includes the installation of two high-efficiency, natural gas-fired boilers that will supply steam to the mill's papermaking process. Construction of a new building and installation of the boilers is expected to be completed in August 2010.

The Holyoke mill has been making paper for 136 years. Sonoco has the last running paper machine in "Paper City" with an annual output of 66,000 tons of uncoated recycled paperboard. Sonoco also manufactures paper tubes and cores at a separate location in Holyoke that uses approximately 80 percent of the paperboard produced at the Company's neighboring paper mill. The two locations combined employ more than 135 people.

Holyoke Gas and Electric (HG&E) announced in mid-2009 that it would cease steam production operations by late third quarter 2010, citing a major decrease in industrial demand as the key driver for its decision. Sonoco worked closely with HG&E to develop a mutually acceptable exit strategy and the Company will continue to purchase electricity and natural gas for the new boilers from HG&E.

Dave Schultz, Sonoco plant manager, states, "There has been true collaboration throughout a very difficult time for both parties. Jim Lavelle and his team have been outstanding to deal with throughout this process. We look forward to continuing our long-standing partnership with HG&E and the City as we prepare for the future."

Schultz added that Sonoco would also like to thank U.S. Congressman John W. Olver, State Senator Michael Knapik, State Representative Michael F. Kane, the Massachusetts Department of Energy Resources and Kathleen Anderson at the City of Holyoke Economic Development for their continued support.

Sonoco is a strong supporter of local environmental sustainability as it uses recycled old corrugated containers (cardboard boxes), mixed office waste and newspapers from local communities to produce paperboard that achieves 85 percent post-consumer status for its converted products. As a result, Sonoco has earned certifications through the Sustainable Forestry Initiative (PwC-SFICOC-294) and Forest Stewardship Council (SW-COC-003307). Sonoco's Holyoke mill recycled a total of 62,900 tons of local post-consumer waste in 2008. Sonoco also runs the only loose paper collection operation that pays cash to local neighbors to drop off cardboard and newspapers to make paper.

About Sonoco

Founded in 1899, Sonoco is a $3.6 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations. For more information on the Company, visit our Web site at http://www.sonoco.com.

SOURCE: Sonoco

Sonoco
Roger Schrum, 843-339-6018
This email address is being protected from spambots. You need JavaScript enabled to view it.

Published in North American News

Cash Dividend Raised for the 28th Consecutive Year

The Board of Directors of Sonoco yesturday declared a $.28 per share quarterly common stock dividend, an increase from the previous quarterly dividend of $.27 per share. The dividend will be payable June 10, 2010, to shareholders of record as of May 14, 2010.

According to Harris E. DeLoach Jr., chairman, president and chief executive officer, this is the 28th consecutive year that Sonoco has increased common stock dividends and 340th consecutive quarter, dating back to 1925, that the Company has paid dividends to shareholders. If annualized, Sonoco's new dividend is projected to increase from $1.08 to $1.12 per share, an increase of 3.7 percent. The projected annual dividend of $1.12 per share would provide a yield of approximately 3.4 percent, based on the Company's closing stock price of $33.00 as of April 20, 2010.

About Sonoco

Founded in 1899, Sonoco is a $3.6 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations. Sonoco is a proud member of the Dow Jones Sustainability World Index. For more information on the Company, visit our Web site at www.sonoco.com

SOURCE: Sonoco

Sonoco
Roger Schrum, 001-843-339-6018, This email address is being protected from spambots. You need JavaScript enabled to view it.

Published in Financial News

Sonoco will increase prices for molded wood products by 7 percent effective on shipments as of April 15, 2010, according to James Harrell, vice president and general manager, Industrial Carriers Division, North America. Sonoco is one of the largest domestic suppliers of molded wood products for its served industries.

"Using 2005 as a baseline, lumber output in the United States has decreased from 40.5 billion board feet to 22.6 billion board feet in 2009. Since wood shavings are the primary raw material used to manufacture molded wood products, we have been adversely affected by decreased supply," said Harrell.

"Sonoco continues to make investments to drive productivity initiatives to help reduce costs to our customers including consolidating molded plug production in our facility in Bastrop, Louisiana," Harrell added. "Unfortunately, business conditions and our supply chain for materials are being stressed beyond what we can afford to absorb."

Sonoco
Roger Schrum, 001 843-339-6018
This email address is being protected from spambots. You need JavaScript enabled to view it.

Published in Financial News
Tagged under

Sonoco one of the largest diversified global packaging companies, today announced that its 2009 Annual Report to Shareholders is now available on the Company's Web site at www.sonoco.com, in the "Investor Relations" section. The annual report entitled, "Lean, Fit and Ready to Grow," reviews Sonoco's financial performance in 2009 while highlighting how Sonoco has leaned its cost structure, further reduced debt to create one of the fittest balance sheets in the Company's history and continued to focus on growth.

"Clearly, 2009 was one of the most difficult, and yet one of the most rewarding years for Sonoco. The continuation of the deepest global recession in decades significantly impacted volumes Companywide, particularly in our businesses which serve industrial markets," Harris E. DeLoach, Jr., chairman, president and chief executive officer, wrote in his letter to shareholders in the 2009 Annual Report.

"In response we moved quickly to lean our business by sizing our manufacturing footprint to meet the new market realities of our served markets. In addition, we realigned our businesses and streamlined our management organization. By proactively 'managing the guts' of our business, we significantly reduced costs, achieved record productivity and improved annual gross profit margins to the highest level since 2007."

Throughout the 2009 Annual Report, case studies are outlined that illustrate Sonoco's strategy and successes during the year, including: the "game changing" Flavor Lock Lid and new composite paperboard can that Sonoco produces for Kraft Foods' Maxwell House coffee; Sonoco's successful packaging services and growth in Wroclaw, Poland; and Sonoco Recycling, Inc.'s growth in residential recycling in the Southeast United States.

Sonoco has mailed the 2009 annual report and proxy statement to its shareholders in preparation for its annual meeting, which will be held on Wednesday, April 21, 2010, at the Center Theater, 212 North Fifth Street, Hartsville beginning at 11 a.m. Eastern Time. For those unable to attend the meeting in person, a live webcast can be accessed via the Internet at http://www.sonoco.com/, under the "Latest News" section. Those planning to participate should plan to connect to the live webcast at least 10 minutes prior to the start. The meeting webcast also will be archived on the "Investor Relations" section of Sonoco's Web site.

SOURCE: Sonoco

Sonoco
Roger Schrum, 843-339-6018
This email address is being protected from spambots. You need JavaScript enabled to view it.
Published in European News
Page 10 of 11