|Sonoco Releases 2011 Annual Report to Shareholders|
Company's Annual Meeting to be held
"Sonoco has remained a successful company for 112 years by adapting to changing market conditions. Yet our vision remains clear," Harris E. DeLoach Jr., chairman and chief executive officer, wrote in his letter to shareholders in the 2011 Annual Report. "We are aligned around serving our customers globally as one company delivering infinite packaging solutions."
A significant achievement in Sonoco's growth strategy in 2011 was its acquisition of
"This was not a deal we just stumbled upon," DeLoach stated in the report. "The protective packaging industry serves a wide range of growing consumer and industrial markets and provides solid profit margins. Sonoco had already built a successful, yet relatively small, paper-based protective packaging business that primarily serves the appliance market.
"As a result of this experience, we made the decision to pursue a strategy of becoming a leading supplier of custom-engineered protective packaging. We were looking for the right opportunity and Tegrant met our criteria."
Also in 2011, despite significant headwinds, Sonoco grew sales to a record
The 2011 Annual Report features "snapshots" of Sonoco's business activities and achievements through the use of photographs, meaningful numbers and short captions. These snapshots of the business include highlights of new products and technologies, expanded services, capital expansion projects, sustainability and Sonoco's commitment to its employees and the communities where it has a presence.
Sonoco has mailed the 2011 Annual Report and proxy statement to its shareholders in preparation for its annual meeting, which will be held on
Founded in 1899, Sonoco is a global provider of a variety of consumer packaging, industrial products, protective packaging and packaging supply chain services. With annualized net sales of approximately
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