Sonoco: Sonoco implements price increases in Europe

Sonoco Products Company today announced it is implementing a EUR 60 per metric ton price increase for all grades of core board and paperboard in Europe, effective with all deliveries from April 7, 2025. According to Adam Wood, Vice President, Industrial Paper Products Europe, the pricing decision is driven by a general shortage of Old Corrugated Containers (OCC), the primary raw material in core board production, and elevated energy costs. "OCC generation has been low across Europe which has resulted in rising prices in March, and we expect additional increases in April and beyond. This is compounded by OCC exports from Europe that continue to tighten local supply," Wood said. "We were hopeful for energy price reductions as we entered spring to help offset the material inflation, but this is not materializing and with gas storage levels low across Europe, the need to replenish reserves over the summer is not likely to support a meaningful reduction. We have held out to support our customers as long as we can but must now pass on these rising costs," Wood explained. Sonoco (NYSE: SON) is a global leader in high-value sustainable packaging that serves some of the world's best-known brands. Sonoco has approximately 28,000 employees working in more than 300 operations around the world.