<B>Sonoco Announces Growth Plan, Extends Deal with Gillette</B>

Sonoco Products announced a strategy that will allow the company to grow its business by double digits. Additionally, the company announced an expanded 5-year packaging deal with Gillette Co.

Sonoco aims to post average annual double-digit earnings growth and cost reductions of about $25 million to $30 million, the company said at its annual meeting with analysts.

The company revealed a new 5-year, fee-based contract with Gillette, to continue managing the packaging supply chain for their North American razor and blade business and a new assignment to do the same for their European operations.

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December 2000
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