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Benzinga
Benzinga
Business
Shivani Kumaresan

Sonoco-Alcore Hikes Paperboard Prices In EMEA Region

SON (Organization) EMEA NYSE Sonoco Products Co
  • Sonoco Products Co (NYSE:SON) said its subsidiary, Sonoco-Alcore, will raise prices by €100 (£85) / ton on all recycled paperboard grades sold in EMEA regions.
  • The price rise will be effective for all shipments made on or after March 14, 2022.
  • The move comes after a continued escalation in the cost of European energy.
  • "These cost increases, in conjunction with disruptions to our supply chain, now mean that we have no choice but to react to the situation," said Phil Wolley, Division Vice President – Paper Europe.
  • Price Action: SON shares closed lower by 2.9% at $55.50 on Monday.
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