Sonoco Reels Increasing Prices for Plywood Reels

Sonoco

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.