LONDON, UK / ACCESSWIRE / January 05, 2018 / Active-Investors.com has just released a free research report on Sonoco Products Co. (NYSE: SON) ("Sonoco"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=SON as the Company's latest news hit the wire. On January 03, 2017, the Company, one of the largest diversified packaging Companies in the world, introduced its new product, the SoftPeel™ membrane. The product provides a new closure option for cans that offers improved cut-finger protection, printable bill-boarding space, as well as a more natural look and feel than the old all-foil options. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Sonoco Products most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Detailed Product Description
- This new SoftPeel™ membrane offers a unique paper look, which combines well with Sonoco's composite cans, whose fiber content is about 70% recycled paper. This multi-layered, paper-surfaced membrane is easier to peel and softer to the fingers than its all-foil counterparts, particularly those full-panel aluminum closures. Sonoco has developed this unique solution using its material expertise in flexible material converting and closure development.
- At present, SoftPeel membranes are available in 401 (99 mm) and 502 (127 mm) diameters while additional sizes are under development.
- The membrane is now widely available to new customers and is already commercial with a leading consumer packaged goods Company.
New Product Launch Driven by Customer Feedback
Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. The SoftPeel membranes are the latest addition to its range of membranes and full-panel aluminum solutions, which includes low opening-force options, tamper-resistant closures, and customizable embossed membranes.
Jeff Tomaszewski, the Vice President and General Manager of the Rigid Paper Containers division at Sonoco North America, highlighted that the Company's consumers and brand owners had expressed concerns about the risks of cut fingers from traditional membrane closures. Therefore, the Company has tried to address this concern through its new SoftPeel™ membrane and end portfolio. He reiterated that Sonoco's SoftPeel™ membrane offers safer and easier opening for consumers, but it still provides the same barrier protection for the packaged product as the old full-panel aluminum solutions. Besides, this paper-based, multi-layer membrane also offers enough space for brands to depict their logo or any promotional messaging.
A 5-Year $2.725 Million Fresh Packaging Initiative
Another important development about Sonoco is that it introduced Sonoco FRESH, a new research initiative, in partnership with Clemson University on December 01, 2017. The Sonoco FRESH - which stands for Food Research Excellence for Safety and Health - initiative is meant to develop new technologies and new forms of packaging to optimize the fresh food lifecycle.
Every year, the food industry loses approximately $15.6 billion in food spoilage at retail. About $1.8 billion of that loss can be recovered by altering packaging design to extend shelf life by just one day. A better package design would also feed more people and reduce landfills wastage.
The Company has committed to contribute $1.725 million towards establishing a multi-disciplinary hub for innovation and research to advance fresh food packaging and distribution over the next 5 years. Moreover, Sonoco will also sponsor business-driven research projects totaling $1 million over that period.
Stock Performance Snapshot
January 04, 2018 - At Thursday's closing bell, Sonoco Products' stock slightly fell 0.30%, ending the trading session at $53.73.
Volume traded for the day: 349.62 thousand shares.
Stock performance in the last three-month - up 4.88%; previous six-month period - up 4.74%; and year-to-date - up 1.11%
After yesterday's close, Sonoco Products' market cap was at $5.38 billion.
Price to Earnings (P/E) ratio was at 19.76.
The stock has a dividend yield of 2.90%.
The stock is part of the Consumer Goods sector, categorized under the Packaging & Containers industry. This sector was up 0.7% at the end of the session.
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