Sonoco announced it would raise the price for all converted paperboard products by a minimum of 6 percent, effective with shipments in the United States and Canada, on or after February 1, 2024.
“This price increase is necessary due to continued increases in costs for uncoated recycled paperboard (URB), our primary raw material,” said Mike Thompson, Vice President of Sales and Marketing for Sonoco’s North American Converted Paper Products Division.
Founded in 1899, Sonoco (NYSE:SON) is a global provider of packaging products. With net sales of approximately USD7.3bn in 2022, the Company has approximately 22,000 employees working in more than 320 operations around the world, serving some of the world’s best-known brands.
