Sonoco to make savings with plant closures

December 10: Despite reporting sales up by 13 percent and profits by 29 percent in the first three quarters of 2008, composite packaging and easy-open end manufacturer Sonoco is planning to make more savings with plant closures and jobs cuts next year.
Its businesses that serve industrial markets have experienced a much larger than expected decline in volume and reduced profitability as a result of significantly slowing global economic conditions, the company said.

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