Pratt Industries has made a major expansion into California with the acquisition of the Salinas-based food and agricultural packaging company, Robert Mann Packaging. Pratt paid $60 million for the privately-owned RMP group which has $150 million in annual sales and more than a dozen facilities in the western U.S. and Mexico, including a 350,000 square-foot box-making plant in Salinas. The deal for RMP now gives us a nationwide footprint in America with manufacturing sites stretching from New York to the West Coast.
Sonoco (NYSE:SON) today 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.”