Sonoco, a global diversified packaging company based in Hartsville, South Carolina, has announced it will increase its prices for all rigid containers and closures sold in North America by 9.5 percent, effective with shipments on and after June 3.
Ernest Haynes, division vice president and general manager of Rigid Paper and Closures North America at Sonoco, says this price increase is necessary to recover rapidly rising costs for key raw materials used to produce rigid paper containers and closures.
“Due to the rising inflationary cost of adhesives, laminate structures, recovered paper and steel, we are experiencing input cost pressures that simply cannot be absorbed,” Haynes says. “These inflationary cost increases have been compounded by the aftereffects of Winter Storm Uri on the adhesives industry along with incredible demand in the steel marketplace.
He continues, “While we have taken extraordinary measures to protect our customers from supply chain related disruptions, it has not been without incurring significant material cost increases. As an essential supplier during the COVID-19 global pandemic, our primary focus requires doing everything we can to protect our customers from business related disruptions. Maintaining continuity of supply, regardless of the challenges we continue to face, remains a top priority.”