Sonoco Plastics Increasing Prices for All Resin-Based Products in North America

Sonoco is implementing a price increase for all resin-based products sold in North America. The increase amounts by formulation are CPET/PET – 15%; PE – 10%; and PP – 5%. The increase, which impacts thermoformed, injection-molded and extrusion-molded products, is effective with shipments beginning Oct. 15, 2017.
 
“With the unfortunate events surrounding Hurricanes Harvey and Irma, we are seeing a significant inflationary spike affecting the entire industry, not just Sonoco,” said Jeff DiPasquale, VP and GM for Sonoco’s Global Plastics division. “The unprecedented occurrence of these natural disasters has greatly impacted the North American resin supply chain in terms of both production and distribution.”