Uber Ordered to Pay $8.5 Million in Bellwether Sexual Assault Lawsuit 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Instagram Outage Disrupts Thousands of U.S. Users 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
HARTSVILLE, S.C., Sept. 01, 2016 -- Sonoco (NYSE:SON) today announced it has reached a definitive agreement to sell its rigid plastics blow molding operations to Amcor, a global leader of rigid and flexible packaging products, for $280 million. The transaction is subject to regulatory approvals in the United States.
Sonoco’s rigid plastics blow molding operations include seven manufacturing facilities in the U.S. and Canada with 850 employees producing containers serving the personal care and food and beverage markets.
According to Jack Sanders, Sonoco president and chief executive officer, the decision to sell the blow molding operations was made to focus the Company’s consumer packaging portfolio and provide resources to further expand its targeted growth businesses, including flexible packaging, thermoforming rigid plastics and temperature-assurance packaging for transporting pharmaceuticals, biologics and vaccines.
About Sonoco
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging, and displays and packaging supply chain services. With annualized net sales of approximately $5 billion, the Company has 21,000 employees working in more than 330 operations in 34 countries, serving some of the world’s best known brands in some 85 nations. Sonoco is a proud member of the 2015/2016 Dow Jones Sustainability World Index. For more information on the Company, visit our website at www.sonoco.com.
Contact: Roger Schrum +843/339-6018 [email protected]
