American Forest & Paper Association Releases June 2021 Boxboard Monthly Report

Sonoco announced it is implementing a price increase for all resin-based products sold in North America. The increase amounts by formulation are: CPET/PET – 15 percent, PE – 10 percent, PP – 5 percent. The increase, which impacts thermoformed, injection-molded and extrusion-molded products, is effective with shipments beginning October 15, 2017. “With the unfortunate events surrounding Hurricanes Harvey and Irma, we are seeing a significant inflationary spike affecting the entire industry, not just Sonoco,” said Jeff DiPasquale, vice president and general manager for Sonoco’s Global Plastics division. “The unprecedented occurrence of these natural disasters has greatly impacted the North American resin supply chain in terms of both production and distribution. We are doing everything possible to minimize the impact of this disruption to our customers.”

Q1 2023 Highlights: *Net Sales were $2,438 million, an increase of 9% versus the prior year quarter. *Net Organic Sales increased 1% versus the prior year quarter. *Net Income was $207 million, an increase of 93% versus the prior year quarter. *Net leverage was 3.1x versus 3.2x at year-end 2022.

Mondi Paper Bags has acquired two paper bag lines from Helwan Cement Company and InterCement Sacs, two major cement producers in Egypt. The acquired production lines will increase Mondi’s capacity by approximately 60-80 million bags annually and strengthen Mondi's position in the Middle Eastern bag market, particularly in supporting suppliers to the construction industry. Mondi Paper Bags, a global producer that operates two plants in Egypt, will also become the exclusive supplier of paper bags to Helwan Cement Company and InterCement Sacs. "We are excited to have signed long-term supply agreements with two of our biggest customers in Egypt further securing our position in the Middle Eastern market.