logo
Share SHARE
FONT-SIZE Plus   Neg

Sonoco To Raise Prices For Uncoated Recycled Paperboard Products

Packaging business Sonoco Products Co. (SON) said Monday that it will raise the price for all grades of uncoated recycled paperboard products by $25 per ton, citing continued inflationary pressure. The price increase is effective for shipments in the U.S. and Canada, beginning February 11, 2013.

Marty Pignone, Vice President of Primary Materials Group, North America said, "This price increase is necessary to recover continued inflationary pressure from non-fiber-related costs, including chemicals, energy, freight, repair materials, labor and other expenses."

In early December, Hartsville, South Carolina-based Sunoco detailed its guidance for the full year 2013, which is expected to lag behind analysts' estimates. The packaging products maker also confirmed its fourth-quarter and full-year guidance, while indicating it did not see any changes in economic conditions to revise the outlook.

SON closed Friday's trading at $30.23, up $0.21 on a volume of 543,000 shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Microsoft Corp. (MSFT) has cut the price of Xbox One bundles by $50 ahead of next month's Electronic Entertainment Expo. The 500GB Xbox One bundled with either Quantum Break, Gears of War: Ultimate Edition, The Lego Movie Videogame, Forza Motorsport 6, Rise of the Tomb Raider, or Rare Replay is now... Red-hot Las Vegas beat other big cities to become the best and most budget-friendly summer travel destination this year, according to financial website WalletHub. WalletHub's Shares of Allergan plc rose in early trades Tuesday after billionaire investor Carl Icahn said he recently acquired a "large position" in the Botox maker and was very supportive of CEO Brent Saunders. Icahn did not disclose details of the stake he acquired in Allergan.
comments powered by Disqus
Follow RTT