US-based packaging manufacturer Sonoco has reported a 13% increase in third quarter 2010 net sales of $1.05bn compared with $931m in 2009.
The company said that during the quarter its net income grew to $59m against $47.7m a year earlier.
For the nine-month period ending 26 September, Sonoco's net sales increased 15% to $3.0bn, while the figure was $2.6bn during the corresponding period a year ago.
Net income attributable to Sonoco for the nine-month period was $166.5m, compared with $104.4m in the same period in 2009.
Sonoco Products said its third-quarter profit rose 24% due to higher industrial sales.
Earlier, Sonoco paid about $120m to acquire Associated Packaging Technologies (APT), a provider of rigid plastic food packaging in North America, Europe and Australia/New Zealand.
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