Benzinga | Dec 2, 2021 02:53PM EST

Sonoco-Alcore To Hike Tube & Core Prices In EMEA Region

* Sonoco-Alcore S.a.r.l., wholly-owned by Sonoco Products Co (NYSE:SON), will raise prices by 10% on all tube and core grades sold in EMEA regions, citing inflationary pressure on the business.

* The increase will be effective for all shipments made on or after December 13, 2021.

* "Even with a strong focus on implementing productivity initiatives, they are not enough to offset inflationary pressures from energy, packaging, transportation, adhesives, and raw materials," said Karsten Kemmerling, Division VP - Sales & Marketing EMEA.

* Price Action: SON shares are trading higher by 1.34% at $58.88 on the last check Thursday.