- Guides FY09 EPS $1.95-2.05 v $2.43e
- Plans on closing 15 plants internationaly
- Spending cuts planned to achieve $28M in savings annually
- Will cut 700 positions
- Projections put pension fund under funded by $138M
- CEO: Our businesses that serve industrial markets are seeing a much larger than expected decline in volume and reduced profitability as a result of significantly slowing global economic condition

Other headlines for [SON]

• BLL 12/30/1899 00:00am
  Ball Corp Shares of BLL, BMS, CCK, MWV, PKG, PTV, SEE, SLGN, SON, TIN initiated with buy rating at Merrill- BLL price target $47 - BMS price target $28 - CCK price target $22 - MWV price target $13 - PKG more...
  
• SON 12/30/1899 00:00am
  Sonoco Products Co Cuts Q4 EPS $0.48-0.52 v $0.60e ($0.60-0.64 prior), FY08 EPS $2.23-2.27 v $2.36e ($2.36-2.40 prior)- Guides FY09 EPS $1.95-2.05 v $2.43e - Plans on closing 15 plants internationaly - Spending cuts more...
  
• SON 12/30/1899 00:00am
  Sonoco Products Co Closes Rockton, Ill paperpboard mill on permanent basis, affecting 44 employees- The mill, located at 200 Hawick Street, has the capacity to produce approximately 38,000 tons annually of paperboard more...
  

Industrials sector headlines

• NOC Today 03:01pm
  Northrop Grumman Corp Reorganizing cetain business- These actions, effective immediately, include streamlining its organizational structure, reducing the number of sectors from seven to five. The five sectors will be more...
  
• JBLU Today 02:07pm
  JetBlue Airways Corp Reports Dec Load Factor 79.4% v 76.8% y/y- RPMs -1.8% y/y - ASMs -5.1% y/y
  
• FR.FR Today 01:28pm
  Valeo SA Moody's lowers Long term rating cut to Ba1 fom Baa3; now junk status; affects €1.1B worth of debt
  
• NSANY Today 01:24pm
  Nissan Motor Co., Ltd Announces recall of 243K trucks and SUVs due to airbag sensor issues
  
• DAL Today 01:19pm
  Delta Air Lines Inc Reports Dec load factor 80.1% v 77.7% y/y- ASMs 9.78M (+0.7% y/y) - RPMs 12.2M (-2.4% y/y)