Sonoco Implementing Price Increases for All Rigid Paper Containers, Closures

Sonoco announced it is increasing prices for all rigid paper containers and closures sold in North America by 5%, effective with shipments on, and after, Jan. 15, 2021.

According to Ernest Haynes, division VP and GM, Rigid Paper and Closures, North America, this price increase is necessary to recover rapidly rising costs for raw materials used to produce rigid paper containers.

“Due to the rising cost of both steel and recovered paper, we are experiencing input cost pressures that simply cannot be absorbed,” Haynes said. “Our operational cost increases have been compounded by the on-going COVID-19 pandemic as it impacts labor, the build-up of inventory and associated carrying costs, which is all connected to ensuring the continuity of supply for our customers.”