March 9, 2010 (FinancialWire) — Sonoco Products (NYSE: SON) said it will increase prices for all uncoated recycled paperboard grades in the United States and Canada by $60 per ton effective with shipments on April 5. The company will also increase prices on all paperboard industrial converted products in the U.S. and Canada by 5.5 percent effective with shipments on April 5.

company chairman and CEO Harris DeLoach said that recovered paper costs have continued to rise rapidly throughout the first quarter of 2010, with key grades, such as old corrugated cartons, up by around $110 per ton, or 150 percent, since November 2009.

He added that actual marketplace prices for recovered paper are currently exceeding listed prices by another $20 to $30 per ton, due to scarcity of supply and that, “As a result, we have no alternative but to pass on these higher raw material costs.”

South Carolina-based Sonoco is a manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries.

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