Sonoco (NYSE:SON) today announced it is implementing a price increase, the minimum of which will be 8 percent, for all paperboard tubes and cores sold in the United States and Canada, effective with shipments beginning March 1, 2018.

“This price increase is necessary due to the recent increases in uncoated recycled paperboard (URB), the largest input cost for tubes and cores,” said Doug Schwartz, division vice president of sales and marketing. “Furthermore, other inflationary pressures from rising adhesives, packaging, energy, labor and transportation costs underscore the need for this market-based increase.”

Sonoco is the largest producer of paperboard tubes and cores in North America, which are used to serve the paper, textile, plastic film, and tape and specialty industries.

Source: sonoco.gcs-web.com