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Home >>> About Us
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Sonoco timeline 1890 – 1930 |
March 1890 - Carolina Fiber Company founded by Major James L. Coker and James L. Coker, Jr. To manufacture pulp and paper from Southern Pine.
April 15, 1899 - Major James L. Coker and W.F. Smith signed an agreement forming the Southern Novelty Company in Hartsville, South Carolina, USA. Major Coker was the first president. The initial capitalization was $6,000. One thousand shares authorized; 60 shares issued.
1900 - Sales were $17,000 with net income of $2,000.
1910 - Sales were $132,000 and income was $29,000.
1917 - Installed #1 paper machine in Hartsville.
1918 - Major Coker died at the age of 81. Charles Westfield Coker, his son, was named president.
1920 - Sales were $908,000 and income was $34,000.
1923 - Name changed to Sonoco Products Company.
- Common shares increased 5,000 to total of 6,000 shares with 300% stock dividend.
- Began an affiliate relationship with Textile Paper Tube Company, Ltd. in the United Kingdom.
- Built a second paper machine in Hartsville.
1927 - Acquired Economy Cone and Tube Company of Rockingham, NC, USA
- Acquired Forney Fiber Company of Jersey City, NJ, USA
1929- Par value changed from $100 to "no par" value. Common shares increased to 150,000 shares;
old shares converted to new shares at 16-2/3 for one.
1930 - Sales were $1,598,000 and income was $200,000.
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