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HARTSVILLE, S.C., Dec. 02, 2016 -- Sonoco (NYSE:SON), one of the largest global diversified packaging companies, today announced it will invest $20 million in the development of a new packaging center to support Duracell’s new North America battery packaging operation.
Sonoco’s Display and Packaging unit will be located in Duracell’s new leased facility in the Atlanta area. Sonoco will install and operate state-of-the-art primary packaging equipment at the new center and provide all packaging materials. In addition, the Company will produce retail merchandising displays which will also be packed out at the same facility.
“This unprecedented go-to-market packaging solution for Duracell is unlike any effort provided in our industry,” said Jack Sanders, Sonoco president and chief executive officer. “Because Sonoco is a solutions company which offers multiple packaging products and services, we are able to meet all of Duracell’s unique packaging and retail merchandising needs.”
Full production is expected in the fourth quarter of 2018. Sales of packaging and services annualized over the five-year contract period are expected to be more than $50 million.
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 20,000 employees working in more than 300 operations in 35 countries, serving some of the world’s best known brands in some 85 nations. For more information on the Company, visit our website at www.sonoco.com.
About Duracell
Started in the 1920’s, the Duracell brand and company was recently acquired by Berkshire Hathaway, Inc. and has grown to be the leader in the single-use battery market in North America. Its iconic brand is known the world over. Duracell products are trusted in the devices that keep people connected, protect their families, entertain them, and simplify their increasingly mobile lifestyles. Berkshire Hathaway is a $210 billion holding company owning subsidiaries that engage in diverse business activities. Visit www.duracell.com for more information.
Contact: Roger Schrum +843/339-6018 [email protected]
