Sonoco Products Company, a sustainable packaging solutions provider, will implement a price increase of $70 per tonne for all grades of uncoated recycled paperboard (URB) in the US and Canada.
The company stated that the new pricing structure will take effect on shipments commencing from 10 April 2025.
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The price adjustment is due to persistent inflation in input costs and tightening market conditions, according to John Florence, general counsel, secretary, vice-president, and general manager of Sonoco Industrial Paper Packaging North America.
Furthermore, Sonoco has also decided to raise prices for all its converted paperboard products by at least 8%, effective for shipments made on or after 15 April 2025.
This price increase applies to paperboard tubes, cores, cones, partitions, protective packaging, and other specialised products.
Florence said: “Sonoco is committed to continuously improving our product offerings and pricing strategies to serve our customers better.
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By GlobalData“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.”
In December last year, Sonoco acquired European metal packaging company Eviosys.
The acquisition, announced on 24 June 2024 for €3.6bn ($3.9bn), saw Eviosys integrate into Sonoco’s Consumer Packaging segment, with a brand transition planned shortly after.
