Sonoco to raise Euro recycled paperboard prices

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Related tags: Cost

Sonoco has announced it is to increase prices on all recycled paperboard grades in Europe.

The packaging giant said it will raise tariffs by €40 or £30 per metric ton on recycled paperboard grades on shipments on or after 14 September, 2009.

The company’s European vice president Eddie L Smith said the price rise was because of higher costs associated with recovered paper and energy, along with “significantly reduced inventories”​ of coreboard across Europe.

“While we have made every effort to manage costs in our paper mill operations, inflationary expenses such as these have left us little choice but to implement this increase,”​ he said.

Earlier this month, Sonoco said it would increase its North American prices for all uncoated paperboard grades by $40 ton from August 31.

Paper division vice president James Harrell said: “The cost of recovered paper, our primary raw material, has increased significantly over the past several months along with other input costs which makes it essential that we begin recovering these higher costs.”

Related topics: Market Trends

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