Sonoco-Alcore announces price hikes - Global Paper Money

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Sonoco-Alcore announces price hikes

BRUSSELS, Belgium (News release) -- Sonoco-Alcore S.a.r.l. announced it will raise prices for paper-based tubes and cores by 7%. The increases will be applied individually and depending on product category, effective from shipments beginning on 18 January 2021.

"These adjustments are critical to manage continued increases in cost across the business. To date, we have absorbed these costs by further manufacturing footprint optimisation and supply chain activities but with continued general inflation, we must now pass this on to our customers. To secure materials, both locally and imported, we must act quickly so we can maintain the strong supply chain our customers need and value from Sonoco," said Karsten Kemmerling, Director of Sales and Marketing - Tubes and Cores, Europe. "Brexit will bring its challenges and some additional inflation, but with our raw material supply located in the UK, this provides further supply security to our loyal UK customers."

Sonoco-Alcore S.a.r.l. also announced that it will raise prices by €60 (£50) per tonne on all recycled paperboard grades sold in the Company's EMEA regions. The price change is effective with all shipments on or after the 1st January 2021.

"The increase is in direct response to the rapidly escalating cost and limited availability of waste paper currently seen across Europe. Throughout 2020, we have absorbed additional costs to our business but are now faced with no alternative but to pass these recent escalations onto the market," said Phil Woolley, Division Vice President - Paper Europe.

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