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The Company is a manufacturer of industrial and consumer packaging products and a provider of packaging services, with 324 locations in 35 countries.
Sonoco Products Company (Sonoco) is a manufacturer of industrial and consumer packaging products, and a provider of packaging services with 334 locations in 35 countries. The Company operates in four segments: Consumer Packaging, Tubes and Cores/Paper, Packaging Services and All Other Sonoco. In May 2007, the Company completed the purchase of Matrix Packaging, Inc., a manufacturer of custom designed blow molded rigid plastic containers and injected molded products. On October 3, 2007, Sonoco completed the acquisition of the fiber containers and industrial plastic carriers assets of Caraustar Industries, Inc.Technical Analysis:Its current price level near 33 has been tested for the past month. This recent test doesn’t look bullish anymore as sellers are beginning to enter the market. I think it is losing its momentum to go up. This is only a short-term underperform pitch.
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