Sonoco Adjusts Core Board and Paperboard Pricing Strategies
Sonoco Implements Price Increase for Core Board and Paperboard
Sonoco Products Company, a leading name in sustainable packaging, has recently announced a significant price adjustment. Effective from April 7, 2025, the company will increase the price of all grades of core board and paperboard in Europe by €60 per metric ton.
Reasons Behind the Price Increase
Adam Wood, Vice President of Industrial Paper Products for Europe, provided insight regarding this pricing decision. A critical factor driving this increase is the ongoing shortage of Old Corrugated Containers (OCC), which are essential for core board production. Additionally, heightened energy costs are compounding the issue.
Wood explained, "OCC generation across Europe has been notably low, leading to price hikes in March. We are anticipating further increases in April and beyond. This situation is worsened by reduced local supply due to increasing OCC exports from Europe." He also expressed concerns regarding the energy market. Despite hope for lower energy prices with the arrival of spring, this has not materialized due to low gas storage levels, which impacts supply and prices.
Sonoco's Commitment to Sustainability
Sonoco is renowned for its commitment to sustainability in packaging solutions. The company's strategic focus on providing high-value products not only meets the needs of its customers but also aligns with environmentally responsible practices. With approximately 28,000 employees in 315 operations spread over 40 countries, Sonoco continues to strive for a better future through innovative packaging technologies.
In line with their motto, Better Packaging. Better Life., Sonoco emphasizes collaboration and excellence, which is reflected in their aim to serve globally recognized brands. They take pride in being acknowledged as one of America’s Most Trustworthy and Responsible Companies by Newsweek.
Looking Ahead
As the market dynamics evolve, Sonoco remains committed to monitoring the situation closely. The company's priority is to provide exceptional service while adapting to changes in raw material costs and availability. Wood mentioned that despite their efforts to support customers through these rising costs, the company must now adjust prices to reflect the realities of the supply chain.
Contact Information
For further inquiries, individuals can reach out to Roger Schrum at Sonoco. The contact details are as follows: phone number 843-339-6018 or email at roger.schrum@sonoco.com.
Frequently Asked Questions
What prompted Sonoco to increase prices for paper products?
The price increase is primarily due to a shortage of Old Corrugated Containers (OCC) and rising energy costs impacting production.
When will the price increase take effect?
The new pricing will be effective from April 7, 2025.
Who can I contact for more information regarding the price increase?
For more information, you can contact Roger Schrum at Sonoco via phone at 843-339-6018 or email at roger.schrum@sonoco.com.
How does Sonoco ensure its commitment to sustainability?
Sonoco commits to sustainability through innovation in packaging solutions and by serving well-known brands while integrating environmental responsibility into their business practices.
What is Sonoco's vision for the future?
Sonoco envisions a better future guided by their purpose of Better Packaging. Better Life, focusing on innovation and excellence in serving their stakeholders.
About The Author
Contact Hannah Lewis privately here. Or send an email with ATTN: Hannah Lewis as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.