Sonoco Products announced that it will increase the prices for its paper-based tubes and cores by between 7-9 percent in Continental Europe, effective Aug. 12. Prices in the United Kingdom would be reviewed during August with further increased possible there as well.
Sonoco previously announced a price increase for the products effective June 10. The earlier increase was driven by escalating costs in almost all operating areas. This increase is primarily a result of rapidly rising recovered paper costs.
“While Sonoco will continue to seek ways to offset costs with productivity improvements, recent escalation in recovered paper costs resulting from an imbalance between supply and demand makes this price increase necessary,” said Charles Paterno, vice president – Sonoco Europe.Latest from Recycling Today
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