Sonoco Overview

Sonoco

Introduction

Sonoco is a leading manufacturer of products that are essential to the industrial, commercial, and residential markets. Sonoco makes a wide variety of products, including air conditioning condensers, balloons, bearings, chemicals, construction materials, deicing fluids, diesel fuel additives, electronic components and circuits, food packaging films, glass containers and jars, heating and cooling coils, industrial lubricants, lead-acid batteries, lighting fixtures, machine tools Sonoco’s products include industrial lubricants, solvents, coatings, adhesives, sealants, and specialties. We also produce natural gas liquids (NGLs), which are used to produce ethane and other petrochemicals.

Founder

Sonoco was founded on the 10th of May, 1899 by James Lide Coker. Sonoco is a publicly traded company with over 26,000 employees worldwide. It is headquartered in Hartsville, South Carolina, United States of America.

Sonoco is currently run by:

• R. Howard Coker
• John R. Haley(Chairman of the board)
• Robert R. Hill Jr. (Lead Independent Director)
• Rodger D. Fuller
• Dr. Pamela Lewis Davies
• Theresa J. Drew
• Phillipe Guillemot
• Eleni Istavridis
• Richard G. Kyle
• Blythe J. McGarvie
• Thomas E. Whiddon

And others

Sonoco has two primary subsidiaries, Amoco and BP. Others include:

• (APC), Baxter International, Inc. (Baxter),
• Continental AG (Continental),
• Eastman Kodak Company (Eastman),
• Eli Lilly and Company (Lilly),
• Hershey Foods Corporation (Hershey),
• Ingersoll Rand Company (Ingersoll Rand),
• Johnson & Johnson (Johnson & Johnson),
• Kimberly-Clark Corporation (Kimberly-Clark)
• MeadWestvaco Corporation (MeadWestvaco), Monsanto Company
• The Office Depot, Inc. (Office Depot)
• Reynolds American Inc. (Reynolds American).

Sonoco has a long history of supporting environmental causes. For example, Sonoco has funded research into renewable energy sources such as wind and solar power.

Sonoco has made several big deals in recent years, including a $5.3 billion deal to sell its lubricants business to ExxonMobil in 2013 and an $8.1 billion deal to sell its engine oil business to PKN Orlen in 2014.The company generated a revenue of US$5.237 billion, it had an operating income of US$255.592 million, with a net income of US$207.241 million, total assets of US$5.277 billion, and total equity of US$1.910 billion all as of December 2020.

However, Sonoco has benefited from public funding in the past. In 1990, Sonoco received a government grant to help it expand its business. And in 2000, Sonoco received a government grant to develop a new lubricant product. Sonoco operates in five business segments: industrial lubricants and solvents, specialty chemicals and materials, plastics and rubber products, energy and water technologies, and information technology.

In the year 2022, Sonoco achieved the following:

· Included on Barron’s 100 Most Sustainable Companies list for four consecutive years

· Gold Medal rating by EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains

· Named one of America’s Most Responsible Companies 2022 by Newsweek

· Named a 2022 Top 100 Most Transparent Company in the World

· Named a “Best for Vets” company by Military Times

· Honored by the American Forest & Paper Association (AF&PA) with the Innovation in Sustainability Award for its EnviroSense™ PaperBlister™ package

Ranked first in the Packaging Sector on Fortune’s World’s Most Admired Companies list for 2022 and No. 1 for Innovation as well as Quality of Products/Services

            Many customers have given Sonoco high marks for the quality of its products. One customer wrote on a review website that Sonoco has been providing quality lubricants to their heavy equipment for years they wouldn’t buy anything else. Sonoco is proud to be a part of the American manufacturing landscape. They are committed to creating jobs in the United States and investing in our products and technology to keep up with the latest advances in the industry. Sonoco is a member of the New York Stock Exchange Century Index.

Sonoco currently has a “B” rating with the Wall Street Journal’s Sustainability Rating

According to the company’s website, they are passionate about creating value for their shareholders and providing a superior product to our customers, they focus on sustainable innovation and developing products that improve the quality of life. Its vision is to be the global leader in industrial lubricants and solvents and provide sustainable jobs in the United States. Sonoco’s mission is to provide superior products that improve the quality of life. Sonoco is committed to being environmentally responsible and sustainable. We work to reduce our environmental impact, increase our energy efficiency and use sustainable materials wherever possible.

      In addition, Sonoco is the world’s largest producer of tubes, cores, and fiber concrete columns under the brand name Sonotube concrete forms and a leading manufacturer of blow-molded plastic containers, consumer and industrial thermoformed plastic packaging, engineered molded and extruded plastic products, rigid paperboard containers, and convenience closures.

Sonoco’s operations consist of its consumer packaging businesses, including Global Rigid Paper and Closures, Global Flexibles, and Global Plastics; its Global Services division, which provides high-impact retail displays and packaging supply chain management; its Industrial Converted Products businesses, which manufacture tubes and cores and reels for the wire and cable industry, produces uncoated recycled paperboard globally for Sonoco’s fiber-based packaging divisions and external converters, and includes Sonoco Recycling, one of the world’s largest recyclers; and its Protective Packaging division, which produces highly engineered, custom-designed protective, temperature-assurance, and retail security packaging.

        Sonoco was named the top global packaging company for sustainability and corporate responsibility in the 2011 and 2012 the Dow Jones Sustainability World Index. The firm also received Sustainable Asset Management (SAM) Gold Class Awards in SAM’s Sustainability Yearbook in 2011, 2012, and 2013, was named one of the Top 100 Corporate Citizens by Corporate Responsibility Magazine in 2011 and 2012, and has been listed among the United States’s 500 largest publicly traded companies in Newsweek magazine’s “Green Rankings” for three consecutive years.

Sonoco Recycling annually collects approximately 3 million tons of old corrugated containers, various grades of paper, metals and plastics. The Company also provides recycling programs for many large consumer product companies in the U.S.

The Sonoco alsosupport to health and wellness organizations primarily throughgrants to United Way campaigns. Requests for support for hospital capital fund drives, youth agencies, emergency services and other health and welfare programs not funded by the United Way will be considered.

The Sonoco Foundation supports selected activities in the form of one-time or, on occasion, multiyear grants, primarily in communities where the company has operations. According to the companies website, their goal is to champion diversity, equality and inclusion, they agree to and ask all partners to affirm that no organization is excluded based on age, religion, ethnicity, race, gender identity, sexual orientation, or disability.

          Lastly, Sonoco Products net worth as of September 22, 2022 is $5.75B. Sonoco Products is a leading provider of consumer packaging, industrial products, protective packaging and packaging supply chain services.