Sonoco SON is increasing the price of its plywood reels by nine (9)
percent as a result of its decision to roll the surcharge for reels into base
prices. The increase, which is the direct result of escalating market costs
for plywood, is effective immediately.
“Plant closings in late 2011 by a key plywood producer, along with an increase
in overall demand for plywood, have significantly driven up prices,” said
James Harrell, vice president of Sonoco's Industrial Converting Division. “We
are seeing plywood costs at levels we haven't seen since the last economic
rebound in 2004 and 2005.
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