BRUSSELS, Belgium, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. announced today that due to inflationary pressures it will raise prices by €50 / tonne on all recycled paperboard grades sold in the Company's EMEA regions. The increase is in direct response to the continued escalation of its cost base and will be effective for all shipments made on or after the 1st September 2021.
"Our business continues to experience unprecedented cost inflation across many elements of the business including energy, waste paper, chemicals, packaging and freight. Whilst we have made every effort to mitigate these price pressures, we now have no choice but to pass the increases onto the market. We will continue to monitor market trends over the next quarter and will react accordingly. At this point we cannot rule out further increases before year-end," said Phil Woolley, Division Vice President - Paper Europe.
Sonoco-Alcore S.a.r.l. is wholly owned by Sonoco (NYSE:SON) and operates 24 tube and core plants and five paperboard mills in Europe.
