As editor of I've been around the plastics industry long enough to remember when Sonoco Products Co. was a major player in a couple of industry sectors, most notably grocery T-shirt bags. Earlier this year, the company jumped back into plastics with its $210 million purchase of Matrix Packaging Inc.
Well, the company must like being back in the plastics industry, based on this Reuters report today that quotes CEO Harrison DeLoach.
"I would expect, in the late third quarter of this year or early fourth quarter, we will announce a new Matrix plant," said DeLoach, in an interview with Reuters.
That's promising news for plastics, to be on the growth path again at a respected packaging company.