Sonoco to increase prices for URB, converted paperboard products

Sonoco Products Co. has revealed plans to implement a price increase for all grades of uncoated recycled paperboard (URB).

The Hartsville, South Carolina-based packaging company is increasing its URB prices by $70 per ton in the United States and Canada, effective with shipments beginning April 10.

According to John Florence, general counsel, secretary and vice president and general manager of industrial paper packaging North America at Sonoco, the price increase is necessitated by continued inflation in input costs and tightening market conditions.

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“Sonoco is committed to continuously improving our product offerings and pricing strategies to serve our customers better,” Florence says.

“As part of this commitment, we are also realigning to value-based pricing and transitioning away from offering old corrugated container price mechanisms, which are not true reflections of our overall value and cost to serve customers. This change more accurately reflects current market conditions and the value of our products and service offerings while ensuring the sustainability of our operations.”

Sonoco also will increase prices for all converted paperboard products by a minimum of 8 percent, effective with shipments on and after April 15. This increase includes paperboard tubes, cores, cones, partitions, protective packaging and other specialty products.