GlobeNewswire Inc | Jan 20, 2022 04:05PM EST

January 20, 2022

HARTSVILLE, S.C., Jan. 20, 2022 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON) today announced it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning February 18, 2022.

Sonoco said the price increase was in response to continued strong demand resulting in extended order backlogs, and inflationary pressures on freight, energy, paper making chemicals, labor and other manufacturing costs.

About Sonoco

Founded in 1899, Sonoco (NYSE: SON) is a global provider of consumer, industrial, healthcare and protective packaging. With annualized net sales of approximately $5.5 billion, the Company has 19,000 employees working in approximately 300 operations in 34 countries, serving some of the worlds best-known brands in some 85 nations. Sonoco is committed to creating sustainable products, services and programs for our customers, employees and communities that support our corporate purpose of Better Packaging. Better Life. The Company was listed as one of Fortunes Worlds Most Admired Companies for 2021 as well as being included in Barrons 100 Most Sustainable Companies for the third consecutive year. For more information, visit www.sonoco.com.

Contact:Roger Schrum+843-339-6018roger.schrum@sonoco.com