April 23, 2020 By P&PC Staff
Sonoco is increasing prices for all paperboard tubes and cores sold in Canada and the United States by a minimum of eight per cent.
The price increase is effective with shipments on and after May 13, 2020.
The increase is the first announced change in nearly two years, says Doug Schwartz, division vice-president and general manager, tubes and cores, U.S. and Canada.
He says the increase is necessary to recover rising costs for recycled paperboard, which is the primary raw material used to produce tubes and cores.
“Along with rising paper prices, we have experienced continued price escalation in other input costs, which are putting cost pressures on Sonoco that we are simply unable to absorb,” Schwartz says.
“Sonoco has been deemed an ‘essential supplier’ during the COVID-19 pandemic and we take this responsibility seriously. We have taken added steps to ensure our ability to maintain continuity of supply to meet our customers’ critical needs.”
Sonoco operates a paper and recycling mill in Brantford, Ontario.
The company announced it plans to close its Trent Valley, Ontario, on June 12.
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