Sonoco-Alcore S.a.r.l. has just announced it will raise prices by €60 per tonne (£50 / tonne) on all recycled paperboard grades sold in the Company's European regions. The price change is effective with shipments on or after 17th March 2017.
"This price increase is in response to the constant and unprecedented rise in raw material costs which have occurred since the fourth quarter of 2016. Such increases are no longer sustainable for us as a business and we are now at the critical point where we need to pass this onto the market," said Phil Woolley, Director - Paper Europe.
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 largest European uncoated recycled paperboard mill in Cirie, Italy.
Source: Sonoco Products Company