Sonoco Products Restates Price Increase

Sonoco Products Company restated and is implementing a previously announced price increase for all grades of uncoated recycled paperboard (URB) products in the US and Canada, effective July 10.

The company said that the low yield on the previously announced April URB price increase, along with the impact of rising raw material and other costs, makes it necessary to go back to the market to recover those costs. Palace Stepps, division vice president of sales and marketing for Sonoco’s U.S. and Canada paper and adhesives, said: “This renewed price increase reflects the recent sharp rebound of recovered paper and other costs which we must recover so we can continue providing high-quality, value-adding products to our customers.”