Sonoco-Alcore to Increase Prices for Tubes & Cores in Europe

(GLOBE NEWSWIRE via COMTEX) --BRUSSELS, Belgium, March 20, 2017 (GLOBE NEWSWIRE) -- Sonoco-Alcore S.a.r.l. today announced it will raise prices for paper-based tubes and cores by up to 8.5 percent, depending on product category, effective from shipments beginning on 15th April 2017.

"The increase follows a continuous rise over the past six months in coreboard prices across Europe driven predominantly by higher OCC costs peaking now in a 60 Euro per ton or a 15 percent increase in coreboard," said Karsten Kemmerling, Director of Sales and Marketing - Tubes and Cores, Europe. "We are doing all we can to maintain tight cost control, but with coreboard a dominant part of our cost, we are unable to offset such movement."

Sonoco-Alcore S.a.r.l. is wholly owned by Sonoco (NYSE:SON) and operates 29 tubes and cores plants and four paperboard mills in Europe.

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Source: Sonoco Products Company via Globenewswire