Sonoco-Alcore to Increase Tube & Core Prices in the EMEA Region

Source: OMX
Sonoco-Alcore to Increase Tube & Core Prices in the EMEA Region

BRUSSELS, Belgium, Aug. 26, 2021 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. announced today that due to inflationary pressures on the business, it will raise prices by 8 percent on all tube and core grades sold in the Company’s EMEA regions. The increase will be effective for all shipments made on or after the 1st September 2021.

“We have seen further considerable increases in the cost of raw materials since beginning of the year, and we expect these to further escalate. In addition, we face significant inflationary costs for transport, packaging, energy and labour. We have taken continued efforts to optimize and implemented saving programs but cannot absorb these massive increases anymore,” said Karsten Kemmerling, Division VP - Sales & Marketing EMEA.

Sonoco Alcore S.a.r.l. is wholly owned by Sonoco (NYSE:SON) and operates 24 tube and core plants and five paperboard mills in Europe.