Thursday, May 5, 2022
Sonoco is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning May 30, 2022.
Sonoco said the price change reflects continued tight market conditions and inflationary pressures on manufacturing costs, including energy, freight, chemicals, packaging materials and labor. “Unfortunately, the conditions that challenged us in 2021 have not dissipated in 2022. We continue to be challenged by strong demand, increasing backlogs and inflating costs,” said Tim Davis, Division Vice President and General Manager, Paper – U.S. and Canada.
Founded in 1899, Sonoco is a global provider of consumer, industrial, healthcare and protective packaging.