Paperclips Blog | Producer News Results

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• 05.20.2013

  Tembec Reports Financial Results for its Second Quarter Ended March 30, 2013

  Consolidated sales for the three-month period ended March 30, 2013, were $407 million, unchanged from the same quarter a year ago. The Company generated a net loss of $26 million or $0.26 per share in the March 2013 quarter compared to a net loss of $14 million or $0.14 per share in the March 2012 quarter. The financial results for the most recent quarter include a non-cash impairment charge of $22 million related to an asset held for sale. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $24 million for the three-month period ended March 30, 2013, as compared to adjusted EBITDA of $2 million a year ago and adjusted EBITDA of $19 million in the prior quarter.

  
  

  Business Segment Results

  The Specialty Cellulose Pulp segment generated adjusted EBITDA of $14 million on sales of $120 million for the quarter ended March 30, 2013, compared to adjusted EBITDA of $18 million on sales of $103 million in the prior quarter. The $14 million increase in pulp sales was due to higher shipments of viscose grades. Demand for specialty grades was flat and US and euro prices were relatively unchanged quarter-over-quarter. 

  
  

  The Forest Products segment generated adjusted EBITDA of $7 million on sales of $104 million for the quarter ended March 30, 2013, compared to adjusted EBITDA of $2 million on sales of $101 million in the prior quarter. Sales increased by $3 million due to higher selling prices for lumber, partially offset by lower shipments. Lumber shipments were equal to 76% of capacity versus 84% in the prior quarter. The decrease was due primarily to seasonal and logistic issues. Market conditions continued to improve as the quarter progressed.

  
  

  The Paper Pulp segment generated adjusted EBITDA of $4 million on sales of $122 million for the quarter ended March 30, 2013, compared to nil adjusted EBITDA on sales of $117 million in the prior quarter. The $5 million increase in sales was due to higher prices and shipments of Northern Bleached Softwood Kraft (NBSK) pulp, partially offset by lower shipments of high-yield pulp. 

  
  

  The Paper segment generated adjusted EBITDA of $5 million on sales of $87 million for the quarter ended March 30, 2013, compared to adjusted EBITDA of $6 million on sales of $78 million in the prior quarter. Higher coated bleached board and newsprint shipments caused the $9 million increase in sales. In terms of markets, coated bleached board was relatively stable. The newsprint market weakened due to continued lower North American demand combined with the restart of previously idled capacity.
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• 05.20.2013

  Tembec Announces Closing of the Sale of its NBSK Pulp Mill in Skookumchuck, British Columbia

  Tembec Inc. announced today the closing of the sale of its NBSK pulp mill and related assets located in Skookumchuck, British Columbia to Paper Excellence Canada Holdings Corporation. Total consideration for the transaction is $94.6 million, including $25.5 million in working capital. The purchase price remains subject to closing working capital adjustments.

  
  

  Tembec will use the cash proceeds to pay down revolving operating debt and for general corporate purposes.

  
  

  Approximately 280 employees are included in the transaction. Tembec acquired the pulp mill in 1999 as part of the acquisition of Crestbrook Forest Industries Ltd.
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• 05.17.2013

  J.Vilaseca Earns ISO 50001:2011, Energy Management System

  Spanish specialty papermaker J.Vilaseca has recently obtained the certification ISO 50001—an international standard for energy management and efficiency. J.Vilaseca's main objective with the procurement and implementation of this standard is to establish systems and processes to improve energy efficiency, reducing energy consumption and costs, as well as offsetting the current energy problems:

  • Shortage of current sources

  • Infrastructure vulnerability to future energy supply problems

  • Political instability in countries of supply

  • Energy price volatility

  • External energy dependence

  • To honor the company's commitment to the reduction of greenhouse gas emissions

  "Obtaining this certification highlights the concern and commitment from J.Vilaseca for combating climate change while also confirms the company's strategy investment to social responsibility and respect and preserve the environment," the company said in a statement.

  
  
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• 05.16.2013

  Orient Paper, Inc. Reports First Quarter 2013 Results

  Orient Paper, Inc., a leading manufacturer and distributor of diversified paper products in North China, today announced unaudited financial results for the first quarter ended March 31, 2013.

  Key Highlights for First Quarter 2013:
   •Financial impact from Chinese New Year and a 20-day suspension of production due to government environmental inspection were in line with Company's expectations  
  •Progress on schedule for tissue paper business expansion
  •First quarter dividend payment of $0.0125 per share
  •2013 guidance on net income and EPS unchanged

  Mr. Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper, commented, "We are pleased that our facilities passed the rigorous governmental inspection as we are committed to a business model that complies with the governmental initiative of building an environment-friendly operation."

  Mr. Liu added, "Despite the challenges and the financial impact of the Chinese New Year and a 20-day suspension of production due to government environmental inspection in this quarter, we are pleased that our cash position has continued to improve, supported by the Company's ability to generate cash consistently and maintain a competitive cost structure."

  "With demand slowly picking up, as reflected in a slight sequential increase of the average selling price of corrugating medium paper, raw material prices trending towards a normalized level, and the ramp up of our new production line PM6, we reiterate our commitment to our net income guidance for 2013," continued Mr Liu.

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• 05.15.2013

  Sappi Fine Paper North America Receives 2013 Gold SABRE Award for the successful campaign, The Standard 5

  Sappi Fine Paper North America is pleased to announce that the company along with leading global public relations and communications firm, Burson-Marsteller received a 2013 Holmes Report Gold SABRE award. The successful campaign, The Standard 5 was recognized for its outstanding accomplishment in the Industry Sector category of Business-to-Business: Chemicals & Industrials.

  As the world's largest and most sought after awards competition for the public relations industry, the SABRE Awards celebrate superior achievement in branding and reputation communications. Winning campaigns across North America, EMEA and the Asia-Pacific region demonstrate the highest level of creativity, integrity and effectiveness in their respective categories.

  "It is an honor to be selected as the winner of a Gold SABRE award among a roster of outstanding campaigns," said Patti Groh, director of marketing and communications, Sappi Fine Paper North America. "Over the course of five months, The Standard 5 creatively incorporated events, social media, print, print-activated media such as augmented reality and QR codes as well as cause-related marketing — all into one campaign. The impact of this campaign has far outlasted our expectations and Sappi still receives regular requests for The Standard 5 from designers around the world over a year after its launch."

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• 05.15.2013

  KP Tissue and Kruger Products Report First Quarter 2013 Results

  May 14, 2013 - KP Tissue Inc., which holds a limited partnership interest in Kruger Products L.P. ("KPLP"), releases the financial results for KPT and KPLP for the first quarter of 2013. KPLP is Canada's leading manufacturer of quality tissue products for household and commercial use.

  KPT was created to acquire, and its business is limited to holding, a limited partnership interest in KPLP. As of March 31, 2013, KPT held a 16.9% interest in KPLP, accounted for as an investment on the equity basis. The financial results presented for KPT represent its holding in KPLP during the first quarter of 2013. The following discussion and analysis, unless identified specifically as representing the financial results of only KPT, relates entirely to the financial results of KPLP. Accordingly, the results of KPLP apply to KPT only to the extent of its holding in KPLP.

  On April 15, 2013, KPLP paid a distribution to its partners. Following the reinvestment by the partners of KPLP of a portion of such distribution pursuant to KPLP's distribution reinvestment plan, KPT held a 16.9% interest in KPLP.

  Q1 2013 Highlights
  Revenue of $221.8 million in Q1 2013, compared to $216.2 million in Q1 2012, an increase of 2.6 percent year over year
  EBITDA of $25.1 million in Q1 2013 (including $1.8 million of TAD Project start-up costs) compared to $27.2 million in Q1 2012 (including $0.8 million of TAD Project start-up costs), a decrease of 7.8 percent year over year
  Net income of $11.7 million in Q1 2013 compared to $0.4 million in Q1 2012, an increase of $11.3 million year over year

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• 05.15.2013

  Resolute Officially Inaugurates Power Island Producing Green Energy at Thunder Bay Pulp and Paper Operation

  Resolute Forest Products Inc. today officially inaugurated a major power island producing green energy at its pulp and paper operation located in Thunder Bay, Ontario. The power island includes a refurbished and upgraded woodwaste boiler and a new 65-megawatt condensing turbine. Approved by Resolute in early 2011, the C$65 million project took just over 21 months to complete.

  "The power island is a strategic addition to Resolute's Thunder Bay facility," stated Richard Garneau, President and Chief Executive Officer. "It will reduce the mill's energy costs as well as maximize our local woodlands, sawmill, pulp and paper, and energy operations by fully utilizing forest-based biomass to produce green electricity."

  The green power produced will be sold to the Ontario grid under a power purchase agreement between Resolute and the Ontario Power Authority.

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• 05.14.2013

  Appleton Papers Announces Company Name Change to Appvion, Inc.

  Appleton Papers announced today that the company changed its name to Appvion, Inc. The new name reflects the company's heritage of innovation in applying chemistry to paper and microencapsulation as a means to create value for its customers.

  Commenting on the name change, Appvion's chairman, president and chief executive officer, Mark Richards , said, " Charles Boyd founded our company 106 years ago today with the belief that he could add value to paper by applying coatings to it. Since then, company employees have used their ingenuity and ability to adapt their expertise to new opportunities to prove that Mr. Boyd's idea was sound, profitable and enduring.

  "Our company's success has been based on using applied chemistry to increase the performance of paper. More recently our expertise in microencapsulation has enabled us to partner with companies like Procter & Gamble to enhance the performance and value of a growing range of consumer and industrial products."

  Richards added that while producing thermal, carbonless, security and other specialty coated papers will continue to be an important part of the company's product offering, adopting the name Appvion reflects the company's entry into diverse new markets and makes it clear that paper won't be the only component of the company's future success.

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• 05.14.2013

  Domtar to Make $20 Million in Upgrades to Hawesville Mill in Kentucky

  Governor Steve Beshear [May 9] announced Domtar Paper Company LLC plans to upgrade and add equipment at its Hawesville facility (Kentucky), retaining 452 jobs and investing up to $20 million in capital improvements.

  “Domtar Paper is making a solid commitment to growing its success here in the Commonwealth,” said Gov. Beshear. “This partnership will lead to the retention of 452 jobs and an investment of $20 million near Hawesville, two extremely good reasons to mark this as a time for celebration.”

  Domtar Paper operates 13 mills across the world, including the Hawesville Mill, a large pulp and paper facility. The Hancock County plant makes approximately 80,000 tons of market hardwood pulp, which is used for paper production, and about 600,000 tons of printing grade paper each year.

  The company plans to upgrade existing equipment and invest up to $10 million to construct a new conveyor system, which will allow Domtar to transport its product directly between the plant and the nearby Ohio River. The system is expected to lower operating expenses, reduce greenhouse gases and help retain the existing 452 jobs at the facility.

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• 05.14.2013

  Fortress Paper Announces First Quarter 2013 Results

  Fortress Paper Ltd. reported 2013 first quarter EBITDA loss of $2.6 million. Excluding corporate costs, combined EBITDA loss of the three business segments Fortress operated in during the first quarter of 2013 was $0.3 million in the three months ended March 31, 2013. The recently discontinued Specialty Papers Segment contributed $10.5 million EBITDA, while the Dissolving Pulp Segment and the Security Paper Products Segment generated EBITDA losses of $8.7 million and $2.1 million, respectively. Corporate costs contributed to EBITDA loss in the amount of $2.3 million.

  Fortress reported a net loss (including discontinued operations) of $12.4 million, or diluted loss per share of $0.85 for the first quarter of 2013 on sales of $99.7 million. In the fourth quarter of 2012, the Company reported a net loss of $4.2 million or diluted loss per share of $0.29 on sales of $96.1 million, and for the first quarter of 2012 net loss of $10.7 million or diluted loss per share of $0.75 on sales of $61.4 million.

  The Fortress Specialty Cellulose mill is still considered to be in ramp up mode working towards full capacity and operating efficiencies. Although market prices for dissolving pulp improved in the first quarter of 2013, our sales in one quarter are typically secured by the end of the previous quarter. The combination of the lower realized dissolving pulp prices and challenges experienced at the mill contributed to disappointing results in the first quarter of 2013.

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• 05.14.2013

  Ahlstrom's Board of Directors sign new demerger plan relating to Coated Specialties business in Brazil

  Ahlstrom Corporation's Board of Directors have today signed a new demerger plan related to Coated Specialties, Ahlstrom's Label and Processing business in Brazil, and cancelled the previous Coated Specialties demerger plan. Under the signed demerger plan, all the assets and liabilities contained in the Ahlstrom Group, that belong to the Coated Specialties business in Brazil, will be transferred to Munksjö Oyj through a partial demerger. The demerger is part of the process through which Ahlstrom's Label and Processing business and Munksjö AB will be combined.

  The signing of the new demerger plan and cancellation of the previous one were needed since Ahlstrom and Munksjö will not be able to receive all relevant regulatory approvals before May 27, 2013, when the demerger decision made by Ahlstrom's Extraordinary General Meeting of the Shareholders expires. As announced before, Ahlstrom expects to complete the demerger of the Label and Processing business in Brazil during the second half of 2013. Ahlstrom will later this month publish a separate invitation to a new Extraordinary Shareholders' Meeting, which is required to obtain approval for the new Coated Specialties demerger plan.

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• 05.14.2013

  Glatfelter Announces 5% Price Increase for Its Filtration Papers

  Glatfelter, a global supplier of specialty papers and fiber-based engineered materials, today announced price surcharges of five percent for all beverage filtration papers, effective immediately. The announcement comes as a result of high energy and raw material costs.

  Martin Rapp, Vice President and General Manager for Glatfelter's Composite Fibers Business Unit said, "With the exception of electricity which cost remains relatively flat in Europe, the cost for all raw materials and energy has continued to rise gradually in the last 18 months. This has put immense pressure on margins at a time when additional capacity is needed to support long term growing demand."

  "We understand that this price increase is difficult for our customers, but the current economics are not sustainable. We have made extensive efforts in the last years to reduce our overall costs and increase efficiency in an attempt to mitigate the impact of these escalating costs on our customers. However, we have been unable to counterbalance the full impact of rising input costs in the last years."

  Mr. Rapp continued, "Realistically, I do not see any relief from input cost inflation in the near-term, but we are talking and working with our customers to find ways of reducing the impact of these changes within the global supply chain."

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• 05.14.2013

  Ahlstrom committed to further investments in the new Munksjö

  Ahlstrom Corporation has today signed an amendment agreement with EQT, the principal owner of Munksjö, related to the proposed combination of Ahlstrom's Label and Processing business area and Munksjö AB, to create Munksjö Oyj, a leading manufacturer of specialty papers. The amendment agreement covers an additional equity investment in Munksjö Oyj and the net debt position of Ahlstrom's Label and Processing business in Europe (LP Europe) and Munksjö AB as per March 31, 2013. The agreement also details the consequences of the commitments that Ahlstrom and Munksjö AB have provided to address the competitive concerns of the European Commission with respect to the abrasive backings and pre-impregnated decor paper businesses that are part of the planned combination.

  To strengthen the balance sheet and to address the consequences of the remedy proposal made to the EU Commission, the parties have agreed to make an equity investment in the new Munksjö Oyj totalling approximately EUR 28.5 million, in addition to the previously agreed EUR 100 million. The equity investment will be made by Ahlstrom, EQT and the shareholders of Munksjö AB through Munksjö AB. Ahlstrom has increased its original commitment by EUR 16.0 million to EUR 78.5 million and EQT has increased its original commitment by EUR 1.0 million to EUR 13.5 million by subscribing and paying for additional new shares in Munksjö Oyj. Munksjö AB's commitment amounts to EUR 11.5 million.

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• 05.14.2013

  IP Announces Price Increase

  Effective with orders shipped on or after June 17, 2013, we will increase prices on our IP C2S publishing grades as follows:  IP Courtland C2S (All Finishes & Weights) $1.50/cwt

  All other standard differentials, upcharges, and shipping policies for all products will apply. If you have any questions regarding these changes, please call your International Paper sales representative.

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• 05.14.2013

  Ahlstrom introduces its expanded interleaved Sterile Barrier Systems offering

  Ahlstrom, a global high performance fiber-based materials company, introduces its expanded interleaved Sterile Barrier Systems (SBS) offering, Ahlstrom Reliance® Tandem. This expansion introduces SMS (Spunbond-Meltblown-Spunbond) technology into our offering. The company aims to better meet customers' needs and provide unique SBS solutions.
   
  Ahlstrom's sterile barrier systems are a trusted and an integral part of the central sterilization department in hospitals. Previously, our interleaved offering consisted of crepe and wetlaid technologies. To help our customers stay ahead, Ahlstrom now offers a complete interleaved portfolio with the introduction of SMS into our Ahlstrom Reliance® Tandem portfolio. Ahlstrom Reliance® Tandem utilizes our newest technology, SMS, in combination with our existing technologies to provide the optimal combination of sterile barrier system sheets for sequential wrapping.
   
  Ahlstrom Reliance® Tandem or interleaving is the concept of combining two layers of SBS sheets, each offering specialized performance for sequential wrapping. The two layers are used together to offer a high degree of flexibility in terms of performance, technology and cost for different applications.
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• 05.10.2013

  George Martin Named 2013 PIMA Executive of the Year

  George F. Martin, president and chief executive officer, NewPage Corporation, has been named winner of the 2013 PIMA Executive of the Year Award. The award is PIMA’s highest honor and is bestowed on senior-level executives in the pulp, paper or converting industries for excellence in management and outstanding contributions to the industry as a whole.

  “During an exemplary career in senior management and operations spanning 29 years in the industry George Martin has exemplified the strong leadership skills and vision that are absolutely critical for success in today’s global pulp and paper business,” said Larry N. Montague, TAPPI president and CEO. “His leadership and hard work provided important contributions to NewPage’s growth and emergence as one of North America’s leading printing and specialty paper producers. His accomplishments as a leader and his many contributions to the industry make him an outstanding choice as PIMA Executive of the Year.”

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• 05.10.2013

  NewPage Reports First Quarter 2013 Results

  First Quarter 2013 NewPage Holdings Quarterly Report & Exhibits
  2013 FIRST QUARTER FINANCIAL HIGHLIGHTS
  • Net sales were $756 million in the first quarter of 2013 compared to $760 million in the first quarter of 2012.
  • Higher sales volume and improved product mix were more than offset by lower average paper prices in the first quarter of 2013 compared to the first quarter of 2012.
  • Average paper prices were $887 per ton in the first quarter of 2013 compared to $906 per ton in the first quarter of 2012.
  • Paper sales volume increased to 826,000 tons in the first quarter of 2013 compared to 821,000 tons in the first quarter of 2012.
  • Net loss was $11 million in the first quarter of 2013 compared to a net loss of $123 million in the first quarter of 2012. The improvement was the result of cost reduction initiatives, as well as lower reorganization items and lower interest expense due to the elimination of our pre-petition debt upon our emergence from bankruptcy proceedings.
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• 05.09.2013

  Neenah Paper Reports 2013 First Quarter Results

  Neenah Paper, Inc. today reported adjusted earnings from continuing operations of $0.74 per diluted common share in the first quarter of 2013 compared to adjusted earnings of $0.77 per share in the first quarter of 2012. Without adjustments, reported earnings in the first quarter of 2013 were $0.73 per diluted share and compared to $0.54 per share in the prior year period. Adjusted earnings excluded costs of $0.01 per share in 2013 to integrate brands purchased from Southworth in January 2013 and excluded costs of $0.23 per share in 2012 for acquisition costs and a pension settlement charge. Adjusted earnings are reconciled to comparable GAAP figures later in this release.

  Adjusted earnings per share of $0.74 in the first quarter of 2013 included the impact of $0.07 per share from a higher effective tax rate in 2013. Adjusted operating income of $22.3 million was slightly above prior year with increases in Fine Paper offsetting lower income in Technical Products. The impact of the higher effective tax rate more than offset benefits of higher operating income and lower interest expense in 2013.

  Net sales of $213.2 million in the first quarter of 2013 increased eight percent compared with the first quarter of 2012. Revenues increased in both segments, with growth in Fine Paper aided by additional volumes from acquired brands.

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• 05.09.2013

  Verso Paper Corp. Reports First Quarter 2013 Results

  Verso Paper Corp. today reported financial results for the first quarter of 2013. Results for the quarters ended March 31, 2013 and 2012 include:
  • Operating loss of $1.1 million in the first quarter of 2013, compared to operating loss of $12.3 million in the first quarter of 2012.
  • Net loss of $38.4 million in the first quarter of 2013, or $0.72 per diluted share, compared to net loss of $73.9 million, or $1.40 per diluted share, in the first quarter of 2012.
  • EBITDA of $22.3 million in the first quarter of 2013, compared to ($10.5) million in the first quarter of 2012, and Adjusted EBITDA before pro forma effects of profitability program of $20.1 million in the first quarter of 2013, compared to $25.3 million in the first quarter of 2012 (Note: Adjusted EBITDA is a non-GAAP financial measure and is defined and reconciled to net income later in this release).

  Overview
  Verso's net sales for the first quarter of 2013 decreased $42.1 million, or 11.2%, compared to the first quarter of 2012, reflecting an 11.2% decline in total sales volume, which was driven by the closure of the Sartell mill in the third quarter of 2012. The average sales price per ton was consistent with the same period in the prior year. Verso's gross margin was 12.4% for the first quarter of 2013 compared to 10.1% for the first quarter of 2012.

  Verso reported net loss of $38.4 million in the first quarter of 2013, or $0.72 per diluted share, which included $2.9 million of net gains from special items, or $0.05 per diluted share, primarily due to unrealized gains on energy-related derivative contracts and gains on the sale of our Sartell mill and Fiber Farm LLC. Verso had a net loss of $73.9 million, or $1.40 per diluted share, in the first quarter of 2012, which included $34.9 million of charges from special items, or $0.66 per diluted share.

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• 05.09.2013

  Sappi results for 2nd quarter ended March 2013 reflect mixed markets

  Summary for the quarter
  •European business impacted by lower prices and higher pulp costs
  •Specialised Cellulose projects on track, major shuts completed
  •Profit for the period US$7 million (Q2 2012 US$58 million)
  •EPS 1 US cent (Q2 2012 11 US cents)
  •Operating profit excluding special items US$40 million (Q2 2012 US$125 million)

  Commenting on the result, Sappi Chief Executive Officer Ralph Boettger said:

  "The Specialised Cellulose and North American businesses continue to perform well and the investments in the conversions at the Ngodwana and Cloquet Mills have progressed according to plan.  Dissolving wood pulp production is scheduled to start at these two mills during the 3rd quarter.  As indicated in the previous quarter, we expected operating profit for the second quarter to be lower than that of the first quarter. The actual performance was weaker than expected however, due to weaker European market conditions and an inability to implement any meaningful coated graphic paper price increases in Europe during the past quarter.  This led to a weak overall group performance.

  "Looking forward, market conditions for our paper businesses, particularly in Europe are expected to continue to be weaker than previously envisaged. The price increases in Europe, to date, have not been sufficient to restore margins given rising input costs. Despite the interventions and major cost reductions that have taken place, we expect the European business to only achieve a breakeven operating profit excluding special items for the full year. This performance necessitates further action and we are evaluating a number of options that could result in capacity and cost reductions in our European business. Further measures are also being implemented in the Southern African business. The Specialised Cellulose and North American businesses are expected to continue to perform according to plan.

  "Notwithstanding the weak European performance, and the impact of the commissioning and start-up of the two major dissolving wood pulp projects, we believe that the group will at worst breakeven at the net profit excluding special items level for the full year. We expect net debt to peak at approximately US$2.4 billion in the third quarter and thereafter to decrease to approximately US$2.2 billion by the end of the financial year.

  "Despite the generally tough market conditions and the once-off impact of our major transitionary projects on the current year's performance, our actions and investments will position the group well for improved performance from 2014 onwards."

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