HARTSVILLE, S.C., July 21, 2014 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON) today announced that Sonoco Protective Solutions will be increasing prices on its EPS molded foam products by an additional 6%, effective Aug. 1, 2014.
"Raw material manufacturers of Expanded Polystyrene materials are continuing to experience extremely high demand while supply has been reduced by a number of unplanned industry disruptions, resulting in additional increases in resin bead production," said Vicki Arthur, vice president, Sonoco Protective Solutions. "We continue to work diligently to control input costs through ongoing manufacturing and procurement productivity initiatives. These efforts have helped mitigate some rising costs; however we will still need to increase prices on all EPS foam products."
Sonoco is a leading protective packaging solutions and component provider with 28 manufacturing and fabrication facilities located throughout the U.S. and Mexico. Sonoco supplies material-neutral packaging solutions components to customers in the automotive, appliance, medical, technology, HVAC, kitchen and bath, and furniture industries. For more information about Sonoco's products or to learn more about current pricing, please visit the Company's website at www.sonoco.com or contact Sonoco Protective Solutions at +800-289-9966.
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of approximately $4.8 billion, the Company has more than 19,900 employees working in 335 operations in 33 countries, serving many of the world's best known brands in some 85 nations. Sonoco is a proud member of the 2013/2014 Dow Jones Sustainability World Index. For more information on the Company, visit our website at www.sonoco.com.
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Source:Sonoco Products Company