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Sonoco Announces Price Increase for Paperboard Tubes and Cores

HARTSVILLE, S.C., Aug. 17, 2015 (GLOBE NEWSWIRE) -- Sonoco (NYSE:SON) today announced that it will raise the price for all paperboard tubes and cores by 6 percent to 8 percent (6%-8%), effective with shipments in the United States and Canada beginning September 14, 2015.

“The price increase is necessary due to the recent increase in the price of our primary raw material, uncoated recycled paperboard (URB),” said Adam Wood, vice president, Global Tubes and Cores. “This URB price increase, combined with continued rising operating and other raw material costs, have put pressures on Sonoco which we cannot absorb.”

Sonoco is the largest producer of paper-based tubes and cores in North America, which are used to serve the paper, textiles, plastic films, tape and specialty industries. For more information about Sonoco's complete line of paperboard tubes and cores or to learn more about current pricing, please visit the Company's website or contact the Company at +800-377-2692.

About Sonoco

Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging and packaging supply chain services. With annualized net sales of approximately $5.0 billion, the Company has 21,000 employees working in more than 300 facilities in 34 countries, serving many of the world’s best known brands in some 85 nations. Sonoco is a proud member of the 2014/2015 Dow Jones Sustainability World Index. For more information on the Company, visit our website at www.sonoco.com.

Contact: Roger Schrum +843-339-6018 roger.schrum@sonoco.com

Source:Sonoco Products Company