Benzinga | Oct 22, 2021 06:48AM EDT

Sonoco's Sonoco-Alcore Reports 50/Ton Price Increase For All Tube, Core Grades Sold In Europe, Middle East, Africa, Cites 'Continued Inflationary Pressure'

Sonoco-Alcore S.a.r.l. announces today that due to continued inflationary pressure on the business it will raise prices by 50EUR / 50GBP (for the UK) per ton on all tube and core grades sold in the Company's EMEA regions. The increase is in direct response to the continued escalation of its cost base and will be effective for all shipments made on or after the 1st November 2021.

"The new headline news is energy with the massive increases all industries are now seeing across Europe. Other cost areas still continue to rise in addition, and we remain very active in offsetting as much as we can to assist our customers. The speed and magnitude of the energy increase has simply left us with no option but to pass it on," said Karsten Kemmerling, Division VP - Sales & Marketing EMEA.