For Sonoco, 2023 marks a year of progress on our transformation journey and our second-best annual financial performance ever. In 2023, we had net sales of approximately $6.8 billion and a team of approximately 23,000 people at more than 300 locations around the world, serving some of the world’s best-known brands.

Despite a challenging macroeconomic environment and lower volumes, we maintained strong Adjusted EBITDA margins, driven in part by record performance in our rigid cans and flexible businesses. Even with volumes similar to 2008, our industrial business delivered record margins through diligent cost management across the paper ecosystem.

As we continue to simplify our portfolio, Sonoco will focus on four core businesses in both consumer and industrial papers:

We believe our packaging delivers the most value to these core businesses. With advanced material science, high product functionality and continuous process manufacturing, Sonoco has earned the right to win, lead and serve large global customers.

Rigid Paper Container (RPC)

As a global leader known for innovative, sustainable packaging, we help our customers stay competitive while driving business growth. Today, RPC serves three markets with significant future growth potential - food and beverage, home and health, and personal care.

As a strong collaborator with a dedicated and innovative team of experts, future growth is supported by three major trends:

Sustainability: This is a key element of our customers' packaging strategies to meet consumer preferences and regulatory requirements. Our RPC team has the engineering and scientific knowledge required to convert a variety of substrates into fully recyclable paper products.
International Expansion: As our customers expand internationally, Sonoco is ready to serve them through our global network of 39 sites in 13 countries. In addition, we work with our customers to make capital investments to meet global demand. Our RPC business plans to expand and open new production sites, thereby increasing capacity and enabling more customers to adopt sustainable packaging solutions from day one.
Innovation: Leveraging positive market feedback, our GreenCan® solution provides customers with 90-98% recycled fiber packaging that meets high-barrier product requirements for products such as coffee.

metal packaging

In 2022, Sonoco acquired tinplate aerosol can and food can manufacturing capabilities and combined them with our existing metal component and closure capabilities. This new core consumer platform streamlines production and has 12 factories across the U.S., delivering economic value and reducing freight costs.

As the only manufacturer of two-piece and three-piece aerosol cans, we serve markets including household products, personal care and spray paint. We also serve the food and beverage can market with best-in-class products and services that enhance the value of established packaging formats.

Flexible and thermoformed

To simplify our product portfolio, we merged our flexible business with our four thermoforming businesses into one platform on January 1, 2024. The business has 25 plants in six countries, with U.S. sales accounting for nearly 75% of total sales in 2023.

The combined product lines focus on snacks, condiments, supplements, prepared meals, fresh produce, coffee and the pet market. Combining our knowledge of common end markets, technologies and sustainability to improve single material recycling, we will continue to deliver innovative packaging solutions in an effort to grow revenue through this new, scaled platform.

Industrial Paper Packaging

Sonoco was founded in 1899, making it the oldest business in the company. Since our early days, we have been committed to providing superior value, service and quality, and have continuously reinvented, innovated and grown. As of 2021, this business unit operates as an integrated global enterprise, led by a leadership team of general managers in five regions.

As a vertically integrated global leader in uncoated recycled board (URB) and modified URB products, we have 160 mills in 29 countries. We produce approximately 2 million tons of URB annually, of which 52% is consumed internally in 2023.

Our primary external end markets include tissue and towel cores, flooring, coreboard and food packaging. Our primary internal end markets include the RPC business and the Industrial segment. We will continue to maintain world-class service, quality and technology leadership through moderate growth and sustained profitability.

The 125-year-old company remains committed to doing the right thing through business-related sustainability activities (sustainability assessments and roadmaps, testing and data, recyclability acceptance and labeling, customer and corporate commitments, energy and emissions reduction, and thought leadership and recognition). By aligning our business and center functions, we are working to create a more sustainable future for our employees, customers and shareholders. To learn more, visit our Investor Relations page or read

Sonoco's 2023 Annual Report.

For more information, please click on the link: https://www.sonocochina.com/sonoco-releases-2023-annual-report

Contact information of Sonoco China Factory:
Sonoco (Taicang) Packaging Co., Ltd.
Address: No. 3 Nanjing East Road, Taicang City, Jiangsu Province (Dacheng Industrial Park) 215400
Tel: 0512-53201921