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Sonoco Releases 2010 Annual Report to Shareholders

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  Published in House and Home on Tuesday, March 22nd 2011 at 5:45 GMT by Market Wire
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HARTSVILLE, S.C.--([ BUSINESS WIRE ])--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 Companya™s Web site at [ http://www.sonoco.com ], in the aInvestor Relationsa section. The annual report entitled, aReady to Grow,a reviews Sonocoa™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"

aOne year removed from the worst recession since the Great Depression, we turned in one of our strongest performances in Company history,a Harris E. DeLoach, Jr., chairman and chief executive officer, wrote in his letter to shareholders in the 2010 Annual Report. aSales 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 28^th consecutive annual increase to cash dividends.

aClearly, this performance says a lot about the strength of Sonocoa™s balanced portfolio of diversified global consumer and industrial packaging products and services. But more importantly, it says a lot about our people. Ia™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 wea™re aReady to Grow.a™a

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: Sonocoa™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 [ http://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 aInvestor Relationsa section of Sonoco's Web site.

About Sonoco

Founded in 1899, Sonoco is a $4.1 billion global manufacturer of industrial and consumer products and provider of packaging services, with more than 300 operations in 35 countries, serving customers in some 85 nations. Sonoco is a proud member of the Dow Jones Sustainability World Index. For more information on the Company, visit our Web site at [ http://www.sonoco.com/ ].