Sonoco announces price increase in its Protective Solutions business

Sonoco (NYSE:SON) today announced it is implementing a price increase for all EPS, EPP, PUR and refrigeration products in the United States and Mexico, effective on or before November 10, 2018. Prices will be increased between 6 percent and 10 percent based on the specific substrate.

“We continue to see inflation in our input costs related to EPS, EPP, PUR, corrugate, freight, flexible films and labor,” said Russell Grissett, division vice president, Sonoco Protective Solutions. “Our Supply Management team continues to leverage our global reach; however, overall tightness in supply continues to drive up prices.”

Sonoco is a leading temperature assurance and protective packaging solutions provider, with 30 manufacturing and fabrication facilities located throughout the U.S. and Mexico. Sonoco Protective Solutions supplies packaging to customers in the automotive, appliance, biologics, pharmaceuticals, technology, HVAC, kitchen and bath and furniture industries.
https://investor.sonoco.com/news-releases/news-release-details/sonoco-announces-price-increase-its-protective-solutions

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