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News Breaks
February 13, 2013
07:35 EDTSONSonoco Products says global economic outlook for 2013 remains cloudy
"cloudy. However, we have addressed our recent operating missteps and are poised to take advantage of any improvement in market conditions. The repatriation of offshore cash, and the related pay down of outstanding debt, provides us with improved financial flexibility to invest in the business and/or return cash to our shareholders. In addition, we expect to use free cash flow in 2013 to further reduce debt by about $120M."
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