Sonoco announced plans to raise the price on its uncoated recycled paperboard by $50 per ton effective March 1, 2004.
"Market conditions over the past few years have not allowed us to recover mounting energy, insurance, healthcare and pension costs, all of which remain high. In addition, we are now seeing increasing recovered paper costs, characterized by escalating spot price increases in all regions well in excess of published prices. While our productivity and cost-cutting initiatives have helped us maintain prices, we cannot continue to absorb this combination of cost pressures,” said Jim Bowen, Sonoco’s senior vice president, Global Paper Operations.
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