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Sonoco Implementing Price Increase for Rigid Plastic Packaging

Prices will be increased between 6% and 10% based on the specific resin substrate.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

Sonoco announced it is implementing a price increase for all rigid plastic packaging in the US and Canada, effective Nov. 5, 2018.  Prices will be increased between 6% and 10% based on the specific resin substrate.
 
“Sonoco’s Supply Management team has adeptly leveraged our global buying presence, enabling us to source the resin we need to serve our customers while mitigating as much inflation as possible,” said Jeff DiPasquale, division VP and GM for Sonoco’s Global Plastics operations. “However, continued resin disruptions, strong regional demand, and increases in other materials and freight are driving prices up throughout the supply chain. While we will continue to monitor the domestic and global sourcing landscape to find ways to temper as much of this inflation as possible, we must recover our current cost exposure.”

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