BRUSSELS, Belgium (News release) -- Sonoco-Alcore S.a.r.l. announced today that due to continued inflationary pressure on the business, it will raise prices by 7% 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 15^th June, 2024.

"We continue to experience further cost increases in all sectors of our operations and supply chain, mainly related to increasing cost for core board. We are forced to pass on cost increases to the market, as we are unable to absorb them any further. Supply security and quality remains our primary focus. No shortage is currently foreseen, but we need to keep pace with this cost curve," said Karsten Kemmerling, Division VP - Sales & Marketing EMEA.

Sonoco Alcore S.a.r.l. is wholly-owned by Sonoco (NYSE:SON) and operates 19 tubes and core plants and five paperboard mills in Europe including the Company's largest European uncoated recycled paperboard mill in Cirie, Italy.