Packaging products supplier Sonoco Protective Solutions has increased the prices of its packaging products to adjust inflationary input costs.
The company has increased the price of on fabricated packaging assemblies containing EPS and/or PE and corrugated materials by 4.2%, EPS parts and components by 3.7% and corrugate packaging by 15%.
Sonoco Consumer Protective Solutions vice president Greg Powell said the company has worked hard to provide price stability to its customers.
"To this end, we have been successful in maintaining stable pricing for more than a year," Powell added.
"Our procurement and productivity initiatives have helped mitigate or otherwise reduce the impact of increases in resin costs, corrugated (linerboard) and energy."
According to the company, a portion of the costs, which have become unavoidable, are now part of its ongoing cost structure.