Benzinga | Aug 11, 2021 07:58AM EDT

Sonoco Set To Raise Price For Paperboard Tubes And Cores By Minimum 8%

* Sonoco Products Co (NYSE:SON) is set to raise the price for all paperboard tubes and cores by a minimum of 8%.

* The price rise will be effective with shipments in the U.S. and Canada on or after September 10, 2021.

* "Significant market tightness and additional inflationary cost pressures to our primary raw materials (uncoated recycled paperboard and adhesives) make this increase necessary," said Doug Schwartz, Division VP and General Manager, North America Tubes and Cores.

* Sonoco's paper-based tubes and cores are used in the paper, plastic film, textile, tape, and specialty industries.

* Price Action: SON shares closed higher by 0.25% at $63.36 on Tuesday.