BRUSSELS, June 06, 2024 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. announced today that due to continued inflationary pressure on the business, it will raise prices by 7% on all tube and core 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 15th June, 2024.
"We continue to experience further cost increases in all sectors of our operations and supply chain, mainly related to increasing cost for core board. We are forced to pass on cost increases to the market, as we are unable to absorb them any further. Supply security and quality remains our primary focus. No shortage is currently foreseen, but we need to keep pace with this cost curve," said Karsten Kemmerling, Division VP - Sales & Marketing EMEA.
Sonoco Alcore S.a.r.l. is wholly-owned by Sonoco (NYSE:SON) and operates 19 tubes and core plants and five paperboard mills in Europe including the Company's largest European uncoated recycled paperboard mill in Cirie, Italy.
Contact Information:
Lisa Weeks
Vice President of Investor Relations & Communications
lisa.weeks@sonoco.com
843-383-7524
About Sonoco
With net sales of approximately $6.8 billion in 2023, Sonoco has approximately 22,000 employees working in more than 300 operations around the world, serving some of the world's best-known brands. With our corporate purpose of Better Packaging. Better Life., Sonoco is committed to creating sustainable products and a better world for our customers, employees, and communities. Sonoco was named one of America's Most Responsible Companies by Newsweek. For more information on the Company, visit our website at www.sonoco.com.
