Sonoco announced it is increasing prices for all rigid paper containers and closures sold in North America by 9.5%, effective June 3, 2021.
According to Ernest Haynes, Division Vice President and General Manager, Rigid Paper and Closures, North America, this price increase is necessary to recover rapidly rising costs for key raw materials used to produce rigid paper containers and closures.
“Due to the rising inflationary cost of adhesives, laminate structures, recovered paper and steel, we are experiencing input cost pressures that simply cannot be absorbed,” Haynes said. “These inflationary cost increases have been compounded by the after-effects of Winter Storm Uri on the adhesives industry along with incredible demand in the steel marketplace. While we have taken extraordinary measures to protect our customers from supply chain related disruptions, it has not been without incurring significant material cost increases.”
Founded in 1899, Sonoco is a global provider of consumer, industrial, healthcare and protective packaging.
