Packaging

Sonoco Recycling to Add Fuel Surcharges

Tuesday 05. August 2008 - Sonoco (NYSE:SON), one of the largest diversified global packaging companies, has implemented a fuel surcharge for all of its Sonoco Recycling operations in the United States and Canada, it was announced by Jim Bowen, senior vice president.

The surcharge will be based on the Energy Information Administration of the U.S. Department of Energy’s Weekly Retail On-Highway Diesel Prices Index for collection suppliers and added as a separate line item to all invoices on or after August 1, 2008.

“We have been impacted by dramatic increases in the cost for diesel fuel over the past several months and we expect these cost pressure to continue,” said Bowen. “We are investing in productivity initiatives throughout our operations, but we simply have not been able to offset the magnitude of these higher fuel prices and must make appropriate adjustments to reflect these higher costs.”