Sonoco To Hike Price Of All Paperboard Converted Products

(RTTNews) - Sonoco Products Co. (SON), a packaging solutions provider, announced on Monday that it is raising the price of all converted paperboard products by a minimum of 6 percent, effective with shipments in the U.S. and Canada, on or after February 1, 2024.

Mike Thompson, Vice President of Sales and Marketing for Sonoco's North American Converted Paper Products Division, said: "This price increase is necessary due to continued increases in costs for uncoated recycled paperboard (URB), our primary raw material."

SON was trading down by 0.13 percent at $55.20 per share in the pre-market trade on the New York Stock Exchange.