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
As most of us are painfully aware, the days of the pension are mostly gone. The percentage of employers still offering a traditional defined benefit pension plan to newly hired employees fell from about 50% to 5% between 1998 and 2015, according to advisory firm Willis Towers Watson. Many companies... Cruise Critic, a cruise reviews and information site, has announced its 10th annual Editors' Picks Awards for the best cruise ships and lines of 2017. The awards are given in three categories - ocean cruises, luxury cruises and river cruises. Viking Cruises, with five wins, topped the list of award winners. Following Viking in second spot was Crystal Cruises, with four awards. French real estate company Unibail-Rodamco SE Tuesday announced that it has entered into an agreement to acquire Australian shopping centre group Westfield Corp. in a deal that implies an enterprise value of $24.7 billion. The deal is expected to create the world's premier developer and operator of flagship shopping destinations with 61.1 billion euros or $72.2 billion of Gross Market Value.
comments powered by Disqus
Follow RTT