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Sonoco Implementing Price Increases for Uncoated Recycled Paperboard, Converted Paperboard Products

1. Sonoco announced a $70 price increase for uncoated recycled paperboard. 2. Price hike effective April 10, 2025, due to rising input costs. 3. Converted paperboard products will increase by at least 8% from April 15, 2025. 4. Company focuses on value-based pricing to better reflect market conditions. 5. Sonoco emphasizes a commitment to sustainability and innovation.

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FAQ

Why Bullish?

The price increases suggest improved margins in an inflationary environment. Historical precedent (such as past price adjustments) indicates higher revenues could follow.

How important is it?

The article details significant price adjustments which could directly enhance profitability; this warrants attention from investors. Companies in similar sectors may also react to pricing trends.

Why Short Term?

Immediate price changes will influence revenue hence affecting sentiment and market value quickly. Price adjustments may provide a buffer against inflationary pressures in the short run.

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PKGGRAPHIP
HARTSVILLE, S.C., March 10, 2025 (GLOBE NEWSWIRE) -- Sonoco Products Company (“Sonoco” or the “Company”) (NYSE: SON), a global leader in high-value sustainable paper and metal packaging, today announced it is implementing a $70 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning April 10, 2025. According to John Florence, General Counsel, Secretary and Vice President and General Manager, Industrial Paper Packaging North America, the price change is necessitated by continued inflation in input costs and tightening market conditions. “Sonoco is committed to continuously improving our product offerings and pricing strategies to serve our customers better. As part of this commitment, we are also realigning to value-based pricing and transitioning away from offering old, corrugated container price mechanisms, which are not true reflections of our overall value and cost to serve customers. This change more accurately reflects current market conditions and the value of our products and service offerings while ensuring the sustainability of our operations,” Florence said. Sonoco also will increase prices for all converted paperboard products by a minimum of 8 percent, effective with shipments on and after April 15, 2025. This includes paperboard tubes, cores, cones, partitions, protective packaging and other specialty products. About Sonoco Sonoco (NYSE: SON) is a global leader in high-value sustainable packaging that serves some of the world’s best-known brands. Sonoco has approximately 28,000 employees working in more than 300 operations around the world. Guided by our purpose of Better Packaging. Better Life., we strive to foster a culture of innovation, collaboration and excellence to provide solutions that better serve all our stakeholders and support a more sustainable future. Sonoco was proudly named one of America’s Most Responsible Companies by Newsweek in 2024. For more information on the Company, visit our website at www.sonoco.com. Contact:Roger Schrum843-339-6018 roger.schrum@sonoco.com

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