June 27, 2008
Sonoco to Add Energy Surcharges to Uncoated Recycled Paperboard Products
Sonoco (NYSE:SON), one of the largest diversified global packaging companies, will implement a $40 per ton average energy surcharge for its uncoated recycled paperboard products in the United States and Canada, it was announced today by James Harrell, division vice president and general manager, Paper North America. The surcharge will be added as a separate line item to all invoices for shipments on or after July 14, 2008.
"We have been impacted by dramatic increases in the cost for natural gas and diesel fuel during the previous six months and we expect continued cost pressure for the foreseeable future," said Harrell. "We are investing in energy conservation and productivity initiatives throughout our paper mill system, but we simply have not been able to offset the magnitude of these higher energy prices and must make appropriate adjustments to reflect these higher costs."
Founded in 1899, Sonoco is a $4.0 billion global manufacturer of industrial and consumer products and provider of packaging services, with 334 operations in 35 countries, serving customers in some 85 nations. For more information on the Company, visit our Web site at http://www.sonoco.com/.