Sonoco Products claim a price increase is due to higher Raw Material Costs.

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Sonoco Products Co.(NYSE:SON) a packaging products manufacturer, stated on Monday  that it will raise prices on its uncoated recycled paperboard by $60 per ton, due to higher raw material costs. The company also will raise prices on all paperboard industrial converted products by 5.5 percent. The price hikes take effect on shipments starting April 5^th 2010.

Shares of Sonoco also dropped 2 cents to $29.96 in morning trading.

About Sonoco Products Inc:

Sonoco Products Company provides industrial and consumer packaging products, and packaging services in North and South America, Europe, Australia, and Asia. It manufactures round and shaped composite paperboard cans; single-wrap paperboard packages; fiber cartridges; monolayer and multilayer bottles and jars; monolayer, coated, and barrier and non-barrier laminated tubs, cups, consumer, and institutional trays; aluminum, steel, and peelable membrane easy-open closures for composite, metal, and plastic containers; and flexible packaging. The company produces recycled paperboard, chipboard, tube board, lightweight core stock, boxboard, linerboard, corrugating medium, specialty grades, and recovered paper; and recycles old corrugated containers, and paper, plastic, metal, glass, and other recyclable materials. It also offers packaging supply chain management services, including custom packing, fulfillment, primary package filling, and scalable service centers; and involves in designing, manufacturing, assembling, packing, and distributing temporary, semi permanent, and permanent P-O-P displays, as well as provides contract packaging, co-packing, and fulfillment services. In addition, the company produces wire and cable reels, including steel, nailed wooden, plywood, recycled, and poly-fiber reels; molded and extruded plastics; paperboard products consisting of glass covers, coasters, and other paper amenities; and protective packaging products. It serves food and non food, automotive, beverage, confectionery, electronic, cosmetic, fragrance, healthcare, home and garden, liquor, medical, office supply, over-the-counter drug, personal care, sporting goods, tobacco, wire and cable, household appliances, leisure, textile, and other consumer and industrial packaging markets. The company, formerly known as Southern Novelty Company, was founded in 1899 and is based in Hartsville, South Carolina.

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