Benzinga | Oct 12, 2021 08:44AM EDT

Sonoco Hikes Paperboard Tubes Prices By 6%

* Sonoco Products Co (NYSE:SON) plans to raise the price for all paperboard tubes and cores by a minimum of 6%. The price increase will be effective with shipments in the U.S. and Canada on or after November 8, 2021.

* "Continuing inflationary increases, particularly in Uncoated Recycled Board, adhesives and primary packaging components, coupled with exceptional market demand make this increase necessary," said Doug Schwartz, Division VP and General Manager, North America Tubes and Cores.

* Price Action: SON shares closed lower by 0.10% at $60.73 on Monday.