Sonoco announced it will increase prices for its paper-based tubes and cores by a minimum of 6 percent in the United States and Canada, effective with shipments beginning July 16, 2018. “The price increase is necessary due to ongoing increases in uncoated recycled paperboard (URB), the largest input cost for tubes and cores. URB demand remains strong and the marketplace is extremely tight, with operating rates pushing 100 percent,” said Doug Schwartz, division vice president of sales and marketing. “In addition, the rising cost of transportation remains a headwind due to lack of capacity linked to recently imposed driver regulations. As a result, Sonoco will be implementing a new policy of selling certain large diameter tubes that have less space utilization yields at F.O.B. from our operations.”
International Paper (NYSE: IP) today announced that it has completed two previously disclosed transactions – the sale of its corrugated packaging business in China and Southeast Asia to Xiamen Bridge Hexing Equity Investment Partnership Enterprise; and the acquisition of the Holmen Paper Madrid Mill in Spain. The Company plans to convert the newsprint machine to produce recycled containerboard during the second half of 2017.