BRUSSELS, Belgium, Dec. 17, 2020 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. today announced it will raise prices for paper-based tubes and cores by 7%. The increases will be applied individually and depending on product category, effective from shipments beginning on 18 January 2021.
"These adjustments are critical to manage continued increases in cost across the business. To date, we have absorbed these costs by further manufacturing footprint optimisation and supply chain activities but with continued general inflation, we must now pass this on to our customers. To secure materials, both locally and imported, we must act quickly so we can maintain the strong supply chain our customers need and value from Sonoco," said Karsten Kemmerling, Director of Sales and Marketing - Tubes and Cores, Europe. "Brexit will bring its challenges and some additional inflation, but with our raw material supply located in the UK, this provides further supply security to our loyal UK customers."
Sonoco Alcore S.a.r.l. is wholly-owned by Sonoco (NYSE:SON) and operates 29 tubes and cores plants and five paperboard mills in Europe, including a mill and three tube and core converting facilities in Italy.
