Sonoco-Alcore to Increase Prices for Tubes & Cores in Europe

BRUSSELS, April 30, 2020 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. today announced it will raise prices for paper-based tubes and cores by 8.0 percent, depending on product category, effective from shipments beginning on 15th May 2020.

“The increase follows a rapid escalation in core board cost across Europe. This has been driven by weaker economic conditions severely affecting the supply and subsequent cost of OCC. Securing supply of recovered waste paper has proved challenging for coreboard mills,” said Karsten Kemmerling, Director of Sales and Marketing – Tubes and Cores, Europe.

“To date, we have absorbed these costs, as our primary goal is always to maintain supplies to our customers when we are needed. As this current trend seems set, certainly for the medium term, we now have little choice but to act so we can maintain the strong supply chain our customers value from Sonoco.”

Sonoco Alcore S.a.r.l. is wholly-owned by Sonoco (NYSE:SON) and operates 29 tubes and cores plants and five paperboard mills in Europe, including a mill and three tube and core converting facilities in Italy.