Sonoco Implementing Price Increase for All Rigid Paper Containers
July 10, 2018 - Sonoco on July 9 announced it is implementing a 4 percent price increase for all composite cans and corresponding metal ends in the United States and Canada, effective with shipments beginning August 1, 2018.
“Sonoco's global sourcing power and commitment to supply security have allowed us to effectively mitigate historic inflationary pressures,” said Robin Gordon, division vice president of sales for Sonoco's U.S. and Canada composite cans and metal ends. “However, the recent trade announcements assigning tariffs on the steel and aluminum supply, along with strong regional demand, have placed unprecedented stress on our suppliers' feedstocks and corresponding input costs.
“While we will continue to monitor the domestic and global sourcing landscape to find ways to mitigate inflation, we do need to recover our current cost exposure. We will continue to work with our suppliers to ensure supply security and find ways to bring input costs down over the coming months,” Gordon added.
Founded in 1899, Sonoco (NYSE:SON) is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. To learn more, please visit: www.sonoco.com.