Sonoco (NYSE: SON), one of the largest diversified global packaging companies, today announced that its 2010 Annual Report to Shareholders is now available on the Company's Web site at www.sonoco.com, in the "Investor Relations" section. The annual report entitled, "Ready to Grow," reviews Sonoco's financial performance in 2010 while highlighting how the Company made good on its commitment to grow and expand its business in the recovering economy.
"One year removed from the worst recession since the Great Depression, we turned in one of our strongest performances in Company history," Harris E. DeLoach, Jr., chairman and chief executive officer, wrote in his letter to shareholders in the 2010 Annual Report. "Sales reached a record, growing 15 percent, which was our highest growth rate in 15 years. Base earnings improved 33 percent and reached the second best performance in Company history. And, most importantly, our shareholders were rewarded with a 19.2 percent total return on their investment, including a 28th consecutive annual increase to cash dividends.
"Clearly, this performance says a lot about the strength of Sonoco's balanced portfolio of diversified global consumer and industrial packaging products and services. But more importantly, it says a lot about our people. I'm extremely proud of the way our employees responded going into, and especially coming out of, the recession. As we enter 2011, we are firmly back on track and more than ever we're 'Ready to Grow.'"
The 2010 Annual Report features Sonoco achievements in a two-page section called Sonoco Worldwide 2010. It includes a global map and highlights 21 projects or initiatives the Company completed during the year in different regions of the world. This section is followed by several articles that continue to highlight Company successes, including: Sonoco's growing presence in private label packaging; its new Sonoco Plastics brand; its acquisition of thermoforming packaging leader Associated Packaging Technologies (APT); growth of its Sonoco Recycling business; and the positive impact of green energy on its reels and spools business.
Sonoco has mailed the 2010 annual report and proxy statement to its shareholders in preparation for its annual meeting, which will be held on Wednesday, April 20, 2011, at the Center Theater, 212 North Fifth Street, Hartsville, beginning at 11 a.m. Eastern Time. For those unable to attend the meeting in person, a live webcast can be accessed via the Internet at www.sonoco.com, under the "Latest News" section. Those planning to participate should plan to connect to the live webcast at least 10 minutes prior to the start. The meeting webcast also will be archived on the "Investor Relations" section of Sonoco's Web site.
SOURCE: Sonoco