Sonoco To Implement Price Increase for Core Board and Paperboard in Europe

Sonoco Products Company (“Sonoco” or the “Company”), a global leader in high-value sustainable paper and metal packaging, announced it is implementing a €60 per metric ton price increase for all grades of core board and paperboard in Europe effective with all deliveries from April 7, 2025.

According to Adam Wood, Vice President, Industrial Paper Products Europe, the pricing decision is driven by a general shortage of Old Corrugated Containers (OCC), the primary raw material in core board production, and elevated energy costs.

“OCC generation has been low across Europe which has resulted in rising prices in March, and we expect additional increases in April and beyond. This is compounded by OCC exports from Europe that continue to tighten local supply,” Wood said. “We were hopeful for energy price reductions as we entered spring to help offset the material inflation, but this is not materialising and with gas storage levels low across Europe, the need to replenish reserves over the summer is not likely to support a meaningful reduction. We have held out to support our customers as long as we can but must now pass on these rising costs.”

About Sonoco

With net sales of approximately $6.8 billion in 2023, Sonoco has approximately 21,000 employees working in more than 300 operations around the world, serving some of the world’s best-known brands. With our corporate purpose of Better Packaging. Better Life., Sonoco is committed to creating sustainable products and a better world for our customers, employees and communities. Sonoco was named one of America’s Most Responsible Companies by Newsweek. For more information on the Company, visit our website at www.sonoco.com.

Contact:

Lisa Weeks – Vice President of Investor Relations & Communications – lisa.weeks@sonoco.com – (843) 383-7524

Source: Sonoco Products Company