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Sonoco Products unloads $900 million in U S pension liabilities
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Sonoco ThermoSafe and Cathay Pacific Cargo Expand Partnership to Include Leasing of Pegasus ULD® Containers
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HARTSVILLE, S.C., May 03, 2021 (GLOBE NEWSWIRE) Sonoco (NYSE: SON), one of the largest global diversified packaging companies, today announced it is increasing prices for all rigid paper containers and closures sold in North America by 9.5 percent, effective with shipments on, and after, 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 pro
Sonoco Products Co (SON) Q1 2021 Earnings Call Transcript Motley Fool Transcribers © The Motley Fool Logo of jester cap with thought bubble.
Sonoco Products Co (NYSE: SON)
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Operator
Good afternoon, ladies and gentlemen, and welcome to the Q1 2021 Sonoco Earnings Conference Call. At this time, all participants are on a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder this conference call is being recorded.
I would now like to turn the conference over to your host, Roger Schrum. Please, go ahead.SPONSORED:
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Sonoco Products Co (SON) Q1 2021 Earnings Call Transcript
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