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04.19.2012
Online ad sales in the United States totaled $31.74 billion in 2011, up 21.9% from $26.04 billion in 2010, according to the Interactive Advertising Bureau’s Internet Advertising Revenue Report, released today. Last year was the first time online ad sales topped $30 billion. The trade group says the jump in spending from 2010 to 2011 marks a return to growth rates not seen since the 2006-2007 measurement period, before the economic recession.
Retail marketers accounted for the single largest chunk of online ad spending in 2011 when they spent $7.1 billion on online ads, 22.4% of the total. Retailers’ spending on web ads was up 29.1% from $5.5 billion in 2010, according to the IAB report, which is prepared by consulting firm PricewaterhouseCoopers from sales information provided by advertising companies and publicly available data.
Online advertisers spent $14.8 billion on paid search ads, accounting for approximately 46.6% of 2011 total online ad revenue. Spending on other ad formats, in descending order of total spending was display/banner ads, $6.8 billion and 21.4% of revenue; classifieds and directories, $2.6 billion and 8.2% of revenue; digital video, $1.8 billion and 5.7% of revenue; mobile, $1.6 billion and 5.0% of revenue; lead generation, $1.5 billion and 4.7% of revenue; rich media, $1.3 billion and 4.1% of revenue; sponsorship, $1.1 billion and 3.5% of revenue; and e-mail, $0.2 billion and 0.6% of revenue.
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04.19.2012
Mohawk has taken another bold step in the paper world by simplifying its portfolio of premium paper lines from 22 to six, reducing the number of SKUs in half and challenging the way paper is specified, with the release of a deceptively simple tool for paper specification. The New Mohawk product selector presents all Mohawk papers in one place and is the first in a wave of tools that Mohawk hopes will be paradigm-shifting.
Designed and engineered by Michael McGinn Design Office using the brand designed by Pentagram, the selector opens to three accordion fold charts, each containing several dozen oversize paper chips. Together, they organize Mohawk papers into three broad categories based on performance, character and value.
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04.19.2012
Crown Holdings, Inc. today announced its financial results for the first quarter ended March 31, 2012.
Net sales in the first quarter grew to $1,947 million over the $1,882 million in the first quarter of 2011, primarily driven by increased global beverage can sales unit volumes offset by $36 million from foreign currency translation.
First quarter gross profit was $287 million compared to $292 million in the 2011 first quarter, reflecting 2011 inventory holding gains that did not recur in 2012 and $4 million from unfavorable foreign currency translation, partially offset by increased global beverage can sales unit volumes.
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04.19.2012
AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that the Supreme Court of Canada has refused to hear an appeal by Fibrek Inc. and Mercer International Inc. of the Québec Court of Appeal's decision concerning Fibrek's special warrants. Accordingly, the order issued by the Bureau de décision et de révision (Québec) on February 23 is now final and non-appealable, and Fibrek's dilutive private placement of 32,320,000 special warrants to Mercer is definitively cease traded.
On April 11, Resolute acquired 60,831,859 Fibrek shares, representing approximately 46.8% of those currently outstanding, and announced that it had extended the expiry time for its offer in order to allow additional Fibrek shareholders to participate. The offer currently expires at 5:00 p.m. (Eastern time) on April 23, 2012.
The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the "SEDAR" website maintained by the Canadian Securities Administrators, as varied and extended.
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04.19.2012
After 1.9 percent growth in January, U.S. containerized exports surged in February, rising 9.6 percent year-over-year and 4 percent from the previous month. The total February volume — measured in 20-foot equivalent container units — was 1,014,176 TEUs, led by strong gains in paper and paperboard, building materials and refrigerated foods, and boosted by the depreciation of the U.S. dollar.
In terms of TEUs, paper and paperboard showed the greatest gains, but building materials grew by 280 percent over January, and frozen fish jumped 157 percent. Fabrics (including raw cotton) continue to decline, down 15 percent or 6,375 TEUs.
"The foreign exchange value of the U.S. dollar against a broad basket of currencies was down on January 31 by 2 percent over the value of Dec. 30, 2011," said Mario O. Moreno, economist for The Journal of Commerce/PIERS. "Manufacturing activity in China has been in contraction for four consecutive months, yet U.S. exports of key raw materials such as paper and paperboard and raw cotton increased sharply, suggesting factory output will rebound soon."
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04.19.2012
Worzalla, a print solutions provider serving publishers, announced a new digital short-run print capability that will enable customers to create new revenue streams by bringing out-of-print and backlist titles to the marketplace.
Worzalla is well-known in the publishing industry for its ability to produce award-winning and high profile books. With the introduction of this digital platform, the company is now capable of providing the same high quality for books in short-run quantities.
Worzalla’s entry into the digital short-run marketplace provides publishers with cost-effective solutions for keeping their backlist and out-of-print titles active. It has invested in two new presses—a four-color Kodak Nexpress and a monochrome Oce´ printer—as well as short run paperback and hardcase binding equipment.
The printer can now provide its customers a digital solution comparable to the high quality they have come to expect from traditional offset printing, as well as a hardcase binding option. This will include PUR adhesive hardcase and paperback books, as well as thin bulk side-sewn hardcase books.
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04.19.2012
The packaging operations held for sale are reported only as a separate line item in the income statement - Profit for the period from disposal group held for sale. Comments in this report are thus exclusive of the Packaging operations.
The divestment referred to in the report pertains to the formation of a joint venture in Australia/New Zealand through the sale of 50% of the shares and entailing a deconsolidation of the operations from the start of the year.
Net sales increased by 1% (4% excluding exchange rate effects and divestments) to SEK 19,490m (19,231)
Operating profit excluding items affecting comparability rose 4% (7% excluding divestments) to SEK 1,834m (1,767)
Items affecting comparability, restructuring costs, etc., amounted to SEK -150m (0)
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04.19.2012
Effective with all new and unconfirmed orders shipping on or after June 1, 2012, Evergreen Packaging is increasing the transaction prices for all publication grades by $3.00/cwt. This increase applies to all products including, but not limited to the brands listed below. TruSpec4; TruSpec4.5; TruSpec5; SC Papers.
All Grades, Basis Weights and Finishes are included. All standard upcharges will continue to apply.
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04.19.2012
The U.S. Postal Service today kicked off Earth Day events around the country highlighting ways the Postal Service strives to be leaner, greener, smarter and faster all year long.
“The Postal Service is in every community in every state and that gives us a responsibility to be good neighbors,” said Deputy Postmaster General Ronald A. Stroman in remarks to employees during the Earth Day observance. “That’s why we work so hard to save energy, recycle and reduce waste.”
The Postal Service saved more than $55 million dollars in fiscal year (FY) 2011 by reducing energy, water, consumables use and solid waste to landfills, conservation efforts encouraged by the Go Green Forever stamps. The Postal Service also recycled 215,000 tons of material, which generated $24 million in new revenue, for a total of $79 million.
“This year, the Postal Service is the only federal agency to respond corporate-wide to the Federal Green Challenge, a national campaign to reduce the government’s impact on the environment,” Stroman added.
As part of its culture of conservation, in FY 2011, the Postal Service reduced its carbon footprint and was the first government agency to win the Climate Registry Gold Status award for having lowered its greenhouse gas emissions by 8 percent.
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04.19.2012
Please be advised that Kruger will increase the transaction price on all coated paper grades by $2.00 per cwt.
This will be effective with shipments on, or after July 1, 2012, and will apply to all weights and brightness levels.
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04.19.2012
Northern Nova Scotia drew a sigh of relief Tuesday night after workers at the idled Point Tupper pulp and paper mill voted 85 per cent to accept a contract ultimatum from Pacific West Commercial Corp.
"Our members did a lot of soul-searching over the past couple of weeks," said union spokesman Steve MacDougall.
"Now that this is passed, I hope people realize that the mill workers are not a greedy bunch and that we have taken this responsibility seriously."
In approving the contract from the potential buyer for the former NewPage mill, workers swallowed hard. They accepted pay cuts and the loss of some seniority rights. They will also have their underfunded pension wrapped up and lose 250 positions from a workforce of 548.
Members of Local 972 of the Communications, Energy and Paperworkers union had said it was like negotiating with a gun to their head.
"We’re not particularly happy with this contract, but it is the best we can hammer out," said Archie MacLachlan, union vice-president, before the vote was announced.
On Sunday night, the executive recommended workers vote for the contract, warning that if Pacific West walked away, the plant would not open again. The two paper machines at the Point Tupper plant were idled in September after former owner NewPage Port Hawkesbury Corp. and its American parent company filed for creditor protection.
Pacific West plans to restart the newer Paper Machine 2, which produces high-gloss paper like that used in magazines, by early fall.
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04.18.2012
UPM has partnered with Monocle – a leading global affairs magazine – to produce the Monocle Helsinki City Survey.
Printed on UPM Fine, the Monocle Helsinki City Survey looks at everything from finance/business and logistics, to design/architecture, fashion, culture, aviation/transport, food/hospitality, retail and tourism. Monocle has produced the survey to provide its readers with engaging insight into Helsinki, the World Design Capital 2012.
Monocle editor–in-chief, Tyler Brûlé says “Helsinki is looking to turn ideas into real change. Key to this is a dynamic generation of doers. In each sector they are challenging the modus operandi. It’s these characters we’ve profiled in this city survey – they are the future of Helsinki”.
UPM papers were chosen for good experience in their high qualities both in terms of reproduction and finishing. Monocle always strives to create a unique tactile experience for their readers and the choice was another step in challenging and surprising the readers’ expectations.
“The criteria started with the ‘snap’ of the paper. In other words, how does it feel between forefinger and thumb and does it feel new within the context of the magazine? In both cases, the answer was a firm yes”, elaborates Tyler Brûlé.
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04.18.2012
The American Forest & Paper Association released its March 2012 U. S. Containerboard Statistics Report today. Containerboard production gained 2.5% over the same month last year. Production was up, gaining 7.7% compared to February 2012, however, the month over month average daily production increased just 0.7%. The containerboard operating rate for March 2012 gained 0.7 points over February 2012, increasing from 95.0% to 95.7%.
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04.18.2012
MeadWestvaco Corporation, a global leader in packaging and packaging solutions, announces that the U.S. District Court for the Eastern District of Virginia ruled in favor of MeadWestvaco Corporation on the key patent infringement claims in its lawsuit against competitors Rexam America and Valois of America. The Court found Rexam America and Valois of America directly infringed against MWV's U.S. patents for a fragrance dispensing system called the NoC(R) dip tube (patent numbers 7,718,132 and 7,722,819). This follows the Court's August 18 ruling that found MWV's U.S. patents on the NoC(R) dip tube valid and enforceable. The Court granted MWV's demand for injunctive relief against these competing companies, the terms of which will be framed by the Court at a later time.
Introduced in 2006, MWV's NoC(R) dip tube is the world's first invisible dip tube for luxury fragrances. The NoC(R) dip tube uses light-refractive technology to virtually disappear when it comes in contact with a fragrance solution. MWV has held exclusive U.S. patents on this technology since May 2010. More recently the company has been granted patents for the NoC(R) dip tube in Russia, Mexico, South Africa and an allowance status in China, with other patents pending in many other parts of the world. This product line is manufactured globally to support prestige fragrance brands around the world.
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04.18.2012
Vance Publishing Corp. is celebrating its 75th year in business serving the agribusiness, beauty, woodworking and home organization industries. In honor of the occasion, Vance (which includes brands such as The PACKER, Modern Salon, Drovers/CattleNetwork) has redesigned its corporate website and issued a “75th Anniversary” logo to be used throughout 2012 on all corporate products, including print publications, websites, e-newsletters, digital and electronic products, and research and information materials. A section of the Vance website also features Vance employees talking about their experiences.
ABM spoke with chairman Bill Vance about how the company’s mission has changed, and why b-to-b media remains more viable than ever even as the industry undergoes radical transformation.
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04.18.2012
Oil traded near the highest close in two weeks after the International Monetary Fund boosted its growth outlook and a Spanish debt sale raised more than planned, easing concern that an economic slowdown may curb crude demand.
Futures were little changed in New York after gaining for a second day yesterday. The IMF increased its 2012 global growth forecast to 3.5 percent from 3.3 percent and said oil will advance 10 percent this year on rising demand and possible supply disruptions. Spain sold 3.2 billion euros ($4.2 billion) of bills yesterday, compared with a maximum target of 3 billion. U.S. crude stockpiles climbed a fourth week, data from the industry-funded American Petroleum Institute showed.
“We received fairly optimistic news from IMF and the Spanish debt auction, so we expect the recent downside momentum in oil prices to falter, with potential for a correction higher,” Myrto Sokou, an analyst at London-based Sucden Financial Ltd., said in an e-mail today.
Crude for May delivery was at $104.31 a barrel, up 12 cents, in electronic trading on the New York Mercantile Exchange at 9:47 a.m. London time. The contract yesterday gained 1.2 percent to $104.20, the highest close since April 2.
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04.18.2012
In special ABM webinar hosted on April 11, USPS vice president of product information Jim Cochrane discussed the Postal Service’s plan to sunset its use of the POSTNET barcode in January 2013 and begin requiring use of Full-Service Intelligent Mail barcode (IMb) to qualify for automation discounts.
The use of IMb, plus investment in real-time scanners and other processing equipment puts the USPS on the path to offering customers real-time tracking data and allowing for corrective action before problems occur, according to Cochrane. “Tracking now stops at the processing plants,” he said. “We want real-time tracking at every level.”
By 2013, USPS will have real-time scanners installed and begin tracking delivery events based on GPS, including notice when periodicals have been delivered to mail boxes, said Cochrane. “This is one of biggest databases in the world, tracking millions of events.”
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04.18.2012
The Watermill Group, a strategy-driven private investment firm, received court approval today to acquire Manistique Papers, the only company in North America producing high-value uncoated printing and writing paper exclusively from 100-percent recycled fiber. The purchase agreement was finalized following an auction and confidential bidding process.
Manistique Papers enhances The Watermill Group's investment portfolio of environmental paper manufacturers, which also includes FutureMark Paper Company, the leading recycled coated paper producer in North America. With today's acquisition, The Watermill Group brings together leaders in 100-percent recycled paper in both the coated and uncoated markets and creates the most comprehensive line of recycled printing paper products in North America, representing nearly 300,000 tons of recycled paper per year.
Today's acquisition significantly expands The Watermill Group's footprint in sustainable paper manufacturing and positions the firm to deepen the value it delivers to Manistique's and FutureMark's customers, employees and investors.
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04.18.2012
The line between magazines and e-commerce continues to blur with the launch of a new home décor section of the web site of retailer HSN Inc., No. 26 in the Internet Retailer Top 500 Guide.
The web and TV retailer’s new House Beautiful Marketplace features items such as armchairs, table lamps, fringe pillows and area rugs that have earned the recommendations of House Beautiful editors. The interior decorating magazine—also called a ‘shelter’ publication—has a paid and verified circulation of 818,734, according to a December filing, and also operates the informational web site HouseBeautiful.com.
Besides the monthly product selections, the new HSN microsite, HSN.com/HBMarketplace, also will have what the retailer calls exclusive editorial content from the magazine’s editors, including decorating advice.
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04.18.2012
Through a combination of energy reduction initiatives and continued biomass and natural gas substitution for fuel oil, JDI’s Sawmill, Pulp and Paper, Transportation, and Cavendish Farms divisions reduced greenhouse gas emissions by 45,000 tonnes in 2011. Since 2007, oil consumption has been reduced by 156 million litres and greenhouse gas emissions cut by 346,000 tonnes annually - the equivalent of taking 66,500 cars off the road.
Sawmills Division: Oil use reduced by 21 million litres per year - a 92% reduction with three new biomass boilers - since 2010.
The associated greenhouse gas reduction equates to 11,500 cars being taken off the road.
70% of wood ash from biomass boilers diverted from landfills to beneficial uses such as agriculture and soil enrichment.
Pulp and Paper Division: Oil use reduced by 118 million litres per year, a 96% reduction.
Lake Utopia Paper’s new biomass boiler (Spring 2011) has reduced greenhouse gases by 20,000 tonnes per year, a 30% reduction from 2010 - equivalent to taking 3,800 cars off the road. Further reductions are expected in 2012.
Irving Paper in Saint John stopped using heavy fuel oil (2011) in favour of natural gas, resulting in the following reductions in air emissions: Greenhouse Gases: 18% reduction; SO2: 93% reduction; NOx: 16% reduction; Dust: 21% reduction.
Irving Paper was awarded Natural Resources Canada’s Conservation Leadership Award in the category of Employee Awareness and Training for excellence in energy efficiency awareness and management.
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04.18.2012
Bookstore sales fell 4.1% in February, to just over $1 billion, according to preliminary estimates released by the U.S. Census Bureau. As bookstore sales dropped, total retail sales rose 10.5% in the month. It was a year ago February that Borders filed for Chapter 11, something that began a period of declining sales at the chain until its going-out-of business sales began later in the year.
For the first two months of 2012, bookstore sales were down 1.9%, to $3.06 billion, while total retail sales rose 8.0%.
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04.18.2012
SCA acquires the remaining 50 percent in the Chilean hygiene company PISA (Papeles Industriales S.A.), and will after the transaction own 100 percent of the company. The purchase price is approximately 520 MSEK.
The turnover 2011 was approximately 780 MSEK. The company is primarily operating within tissue for consumers and Away-From-Home usage, which represents almost 70 and almost 30 percent of the turnover, respectively. In addition, incontinence care products under SCA’s global brand TENA have been introduced in Chile through PISA.
SCA entered PISA with a 50 percent ownership during 2003. After the acquisition announced today, which is expected to be closed end of April, PISA will be a fully-owned subsidiary to SCA.
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04.18.2012
Integrated Book Technology (IBT Global) has joined forces with Hamilton Printing of Castleton, NY. Terms of the deal were not disclosed. [IBT is ranked #243 with $19 million in sales on the 2011 Printing Impressions 400 ranking.]
The new company will operate under the name IBT/Hamilton moving forward and will have more than 160 employees with revenues approaching $30 million. The corporate headquarters and manufacturing facilities will remain in their current locations for the time being.
IBT’s digital offering will be enhanced by Hamilton’s web offset capabilities. When combined with IBT’s editorial, page composition and software, along with linking in book publishers’ administrative systems and warehouses, IBT/Hamilton will enable a customers to improve schedules and control inventory from quantities of 10,000 copies to one copy.
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04.18.2012
The U.S. Senate moved Tuesday to consider legislation that would fundamentally reshape the U.S. Postal Service as the struggling agency nears the end of a self-imposed moratorium on closing post offices and processing facilities.
Senators voted 74 to 22 to proceed to debate on the bill, with less than a month left until postal officials say they plan to begin closing hundreds of post offices and processing facilities. Congress requested that USPS wait to close facilities until mid-May so that lawmakers could pass legislation to help USPS save about $22.5 billion by 2016 by curtailing delivery services, closing facilities and offering buyouts to hundreds of thousands of workers.
The bill set for debate is co-sponsored by Sens. Joseph I. Lieberman (I-Conn.), Susan Collins (R-Maine), Tom Carper (D-Del.) and Scott Brown (R-Mass.) and would delay the Postal Service’s move to a five-day delivery schedule for at least two more years while requiring the agency to downsize, rather than close, most of the processing facilities it wants to close.
It also would permit USPS to deliver mail to curbside, sidewalk or centralized mailboxes instead of to front doors or mail slots, allow the service to ship beer, wine and spirits and to explore other sources of revenue. The Postal Service would have to continue overnight delivery of first-class mail, but limit it in some cases to shorter geographic distances.
Six-day delivery service would be scrapped only after the Government Accountability Office conducts a thorough study and determines that the Postal Service has no other way of cutting a considerable amount of operation costs.
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04.18.2012
Packaging Corporation of America today reported first quarter net income of $18 million, or $0.18 per share, which included a non-cash, after-tax charge of $23 million, or $0.24 per share, from an amendment to its 2009 federal income tax return related to biofuel tax credits. Excluding this charge, adjusted net income was a first quarter record $41 million, or $0.42 per share, compared to first quarter 2011 adjusted net income of $39 million, or $0.39 per share, which excludes a $2 million, or $0.02 per share, asset disposal charge.
The increase in adjusted net income was driven by higher containerboard and corrugated products volume ($0.09) and lower costs for energy ($0.04) and recycled fiber ($0.02). These items were partially offset by lower containerboard export prices ($0.03) and higher costs for depreciation ($0.03), transportation ($0.02), labor ($0.02), and interest expense ($0.02).
Net sales were a first quarter record $671 million, up 7% compared to first quarter 2011 net sales of $630 million.
Corrugated products shipments were up 8.3% compared to last year's first quarter, and outside sales of containerboard were essentially equal to last year. Containerboard production was 640,000 tons, up 38,000 tons over the first quarter of 2011. PCA ended the quarter with its containerboard inventories about 11,000 tons above year-end 2011 levels.
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04.17.2012
Grainger today reported record results for the 2012 first quarter ended March 31, 2012. Sales of $2.2 billion were up 16 percent versus $1.9 billion in the first quarter of 2011. There were 64 selling days in the quarter, the same as in 2011. Net earnings for the quarter increased 19 percent to $188 million versus $158 million in 2011. Earnings per share of $2.57 increased 18 percent versus $2.18 in 2011.
Sales in the 2012 first quarter increased 16 percent consisting of 10 percentage points from volume, 5 percentage points from acquisitions and 3 percentage points from price. This growth was partially offset by a 1 percentage point drag from lower sales of seasonal products due to milder weather across the United States and Canada and a 1 percentage point drag from foreign exchange. On a daily basis, sales increased 17 percent in January, 18 percent in February and 15 percent in March.
Company operating expenses in the quarter increased 18 percent driven primarily by expenses from Fabory, an incremental $27 million in spending to fund the company's growth programs, volume-related expenses and corporate support services costs.
Company operating earnings of $304 million for the 2012 first quarter increased 16 percent. This earnings growth was driven by higher sales and improved gross profit margins, partially offset by operating expenses, which grew at a faster rate than sales. The increase in the company's gross profit margin was driven by a number of factors that are addressed at the segment level. For the quarter, the Fabory business, which was acquired in August 2011 and represents less than 4 percent of total company sales, had a positive contribution to gross margin expansion, but resulted in an unfavorable mix on the company's operating margin.
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04.17.2012
Brown Printing will install the 20,000-copies-per-hour binder with 24 hopper positions and full in-line ink jetting and mailing auxiliaries at its facility in Waseca, MN, this spring.
“The new Goss binder will further expand the state-of-the-art print finishing capabilities—including advanced targeting, product personalization and co-mailing—that we deliver for catalog and publication customers,” explains Pat Bayer, engineering and IT director at Brown. “We have a strong record of productivity and efficiency with Goss Pacesetter and Universalbinder systems and recognize the advantages this technology provides for us and for our customers.”
Goss International will equip the new Universalbinder system with an HT20 trimmer, BS60 stacker and overhead gripper conveyors. Brown Printing will also add new Goss trimmers to existing Universalbinder lines at the facility to accommodate thicker products.
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04.17.2012
Ahlstrom, a global high performance materials company, will launch products for Transportation Air Filtration during the 11th World Filtration Congress in Graz, Austria.
Ahlstrom XAIR is a new portfolio of Automotive and Heavy Duty Air Filter media achieving exceptional efficiency in Soot filtration and Dust Holding Capacity having positive impact on engine lifetime, engine emission and fuel consumption.
The media can be processed in traditional high speed pleating machinery and is available with no curing, fast curing, flame retardant and water durable functionalities.
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04.17.2012
Ahlstrom, a global high performance materials company, will extend the range of release papers produced at its Jacareì plant in Brazil with the introduction of calendered Ahlstrom SILCA(TM) Soft grades.
The Pressure Sensitive-Adhesive (PSA) labelling market is estimated to grow approximately by 5-7% per year in Brazil and South America. By extending its release papers product range in Brazil, Ahlstrom aims at better serving the growing market needs and offering further local supply alternatives to imported glassine or supercalendered kraft release papers.Equipment modifications to enable larger production volumes are planned for August 2012.
In developing Ahlstrom SILCA(TM) Soft, the company relied on its broad expertise in the production of high quality release liners. This new calendered backing paper, particularly well adapted for labelstock applications, offers the required properties for secure siliconizing and reliable converting process. It complements the existing range of Ahlstrom SILCA(TM) calendered release papers manufactured in Europe and used by the PSA industry worldwide.
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04.17.2012
At the National Association of Broadcasters (NAB) conference, Adobe Systems Incorporated (Nasdaq:ADBE) today released a report showing increased viewer acceptance of TV-like ad experiences on the Web. The report found high audience engagement with ads during live online events and mid-roll commercial breaks and that users are the most actively engaged viewers when it comes to consuming video ads on tablets and smartphones.
Compiling data from the last six months of 2011, the semi-annual report was generated using an aggregated and anonymous sample of 2.5 billion ad impressions served via Adobe® Auditude®, Adobe’s video ad management and monetization platform and a key component of Adobe’s Project Primetime. The report shows that online video ad consumption is beginning to mirror that of traditional TV commercials, opening the door to greater revenue potential for media companies. Compared to data from the first six months of 2011, there has been an increase in the average number of video ads per content stream in professional, long form content and the record high completion rates for video ads.
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04.17.2012
The U.S. Postal Service, struggling to rein in its financial losses, is having a difficult time shedding operational expenses it no longer needs to carry, according to a report from the U.S. Government Accountability Office. According to the GAO report, the USPS has 461 processing centers but only needs 238, given the overall drop in mail volume as businesses and consumers increasingly switch to electronic forms of communication. There are about 8,000 processing machines but with mail capacity for only 5,000; and, out of 154,000 postal employees, there is work for just 119,000, according to the report. The USPS has saved $2.4 billion since in 2006 it undertook to cut overhead, but last month reported a loss of $1.1 billion for February, the fifth month of its fiscal year, raising its year-to-date losses to $5.6 billion.
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04.17.2012
Catalyst Paper announced today that meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies’ Creditors Arrangement Act have been changed from April 23, 2012 to May 2, 2012.
The rescheduled meetings will be held at the same location (Delta Vancouver Airport Hotel, 3500 Cessna Drive, Richmond, BC) at 10:00 am for unsecured creditors and 11:00 am for the First Lien Noteholders.
The court date to sanction and approve the plan of arrangement has also been rescheduled from April 25, 2012 to May 7, 2012.
The new dates were set to accommodate court scheduling issues with the original dates. The revised schedule will also provide court Monitor, PricewaterhouseCoopers Inc. and Catalyst additional time to complete the accounting review and verification requirements associated with the creditor claims process. Claims must still be filed with the Monitor by 5 p.m. April 18, 2012.
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04.17.2012
Oil rose to the highest in two days in New York after Spain sold debt and a bigger-than-projected gain in U.S. retail sales.
Futures in New York also extended gains after advancing for a third time in four days yesterday on better German investor confidence data. Spain sold 12-month and 18-month bills a day after borrowing costs climbed to the highest level this year. Retail sales in the U.S. increased more than forecast in March as Americans snapped up everything from cars and furniture to clothes and electronics.
The Spanish debt auction helped boost oil prices, said Carsten Fritsch, analyst at Commerzbank AG in Frankfurt. “Apparently, the market expected much worse. But concerns will remain. Look at the much higher rates Spain needs to pay.” He predicts Brent will average $115 a barrel in May and June.
Crude for May delivery climbed as much as 77 cents, or 0.8 percent, to $103.70 a barrel in electronic trading on the New York Mercantile Exchange.
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04.17.2012
AOL will guarantee audience delivery for online video marketing campaigns across AOL's properties, said Charles Gabriel, VP of sales at AOL Video.
AOL's offering, powered by Nielsen Online Campaign Ratings (NOCR), has already launched with 10 brands. Gabriel declined to reveal the brands.
When advertisers purchase video ads aimed at a specific demographic, AOL guarantees 100% of the segment will be targeted. For a premium of the service's base price—between 20% to 50% depending on the desired target or more for a particularly niche segment—AOL validates the percentage of the audience actually hit and the advertiser only pays for the segment that was hit, Gabriel said.
“Lots of companies say they deliver audiences, but they're lucky if they hit 50%—yet they're still charging advertisers and saying it's a guarantee,” Gabriel said. “We're putting our money where our mouth is by guaranteeing [audiences] and if they don't hit the targeted audience, they don't pay for it.”
Additionally, if the campaign only hits 50% of the targeted audience that Nielsen validates, advertisers will get the reach of the other 50% of impressions free of charge.
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04.17.2012
Neenah Paper today announced the worldwide release of the Neenah Cabinet(TM) for iPad application (app) in Apple's App Store. This free app, optimized specifically for iPad, is designed to provide a way for Neenah customers to visually interact with all of Neenah's paper brands, making paper and envelope specification more convenient and creative.
iPad users will quickly learn how to navigate the Neenah Cabinet for iPad app, which has been described as intuitive in early feedback. Once users open the app, they can easily search paper and envelope options by brand color or envelope style. The iPad app features all of the Neenah Paper brands, including the full offering of the CLASSIC(R) Papers, ENVIRONMENT(R), SUNDANCE(R), ESSE(R), CRANE'S(R) and over two dozen more.
The Neenah Cabinet for iPad app is an off-shoot of Neenah Cabinet(TM) for Desktop, a robust and much more inclusive, technology-driven solution to view papers through Neenah's NEW eSwatchbook platform with intuitive waterfalls. With the Cabinet for Desktop, designers can order Personal Proofs(TM), sample papers, organize projects, use tools like environmental calculators, and download ASE Files, die-line files and much more right from their office desktops.
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04.17.2012
Walmart today released its fifth annual Global Responsibility Report (GRR) entitled "Beyond 50 Years: Building a Sustainable Future," highlighting Walmart's global top 10 list of achievements to reduce its impact on the environment, improve efficiency in its supply chain and stores and address social issues. The new GRR unveils data and progress against Walmart's three primary sustainability goals to use 100 percent renewable energy; create zero waste; and sell products that sustain people and the environment. Landmark waste reduction leads other notable accomplishments, including growing use of renewable energy, increased locally-grown sales and emphasis on diversity and empowerment.
"Good work is taking place every day across our global operations to make us a more responsible and sustainable company, and the results have been significant," said Mike Duke, Walmart's president and CEO. "We set ambitious goals to challenge ourselves but are committed to making change in a way that will be meaningful and long-term. Understandably, in some areas our progress is slower than we would like and sometimes we hit temporary roadblocks. Our commitment is clear and our resolve to lead is stronger than ever."
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04.17.2012
Gannett Co., Inc., a leading international media and marketing solutions company, today reported first quarter financial results. Earnings per diluted share, on a GAAP (generally accepted accounting principles) basis were $0.28 for the first quarter of 2012 compared to $0.37 for the first quarter last year. Excluding special items in 2012 and 2011, first quarter earnings per diluted share were $0.34 compared to $0.41 for the same quarter in 2011.
Net income attributable to Gannett in the first quarter of 2012 totaled $68.2 million while net income attributable to Gannett on a non-GAAP basis was $80.8 million. Reported operating income was $135.7 million and non-GAAP operating income totaled $156.7 million. Operating cash flow in the quarter (a non-GAAP term defined as operating income plus special items, depreciation and amortization) was $204.3 million.
Total operating revenues for the company in the first quarter totaled $1.22 billion, a decline of 2.6 percent. Digital segment revenues were almost 7 percent higher reflecting primarily solid revenue growth at CareerBuilder. A 7.5 percent increase in Broadcasting segment revenues was driven by stronger advertising demand and growth in retransmission revenue. Publishing segment revenues declined 6.0 percent reflecting, in part, the impact of sluggish economic growth on advertising demand early in the quarter.
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04.17.2012
We are writing to inform you that UPM is increasing transaction prices of all LWC and CFS web products beginning with all orders delivering on or after July 1, 2012, as follows:
LWC products: $40 per short ton ($2.00 per cwt) for the following grade names in all basis weights and finishes: UPM Cote; UPM Satin; UPM Ultra; UPM Star
CFS web products: $30 per short ton ($1.50 per cwt) for the following grade names in all basis weights and finishes: Finesse
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04.16.2012
The union at the NewPage Port Hawkesbury paper mill in Nova Scotia is recommending workers accept a contract offer from a company that wants to buy the idle operation in a vote to be held Monday and Tuesday.
The executive of the Communications Energy and Paperworkers union Local 972 had previously taken no position on the offer, but that changed after Pacific West Commercial Corp. provided new information to the union.
Union vice-president Archie MacLachlan said in an interview the new information included clarification on seniority and recall rights.
He said the union's membership decided at a meeting on Sunday evening to put the offer to a vote.
Pacific West Commercial's original offer would have laid off about 320 employees of the 550-member workforce.
MacLachlan said those numbers are still accurate because Pacific West Commercial would only operate one of two papermaking machines at the mill in Point Tupper.
The mill closed in September as it struggled with soaring electricity and shipping costs, a strong Canadian dollar and declining demand.
MacLachlan said the union was still getting new information from the company until 30 minutes before Sunday's meeting.
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04.16.2012
Brent crude fell, extending last week’s drop, after the first international talks in 15 months on Iran’s nuclear program yielded an agreement to reconvene in May.
Futures slipped as much as 1.3 percent in London. The United Nations’ five permanent Security Council members plus Germany will meet Iranian delegates in Baghdad on May 23 after “constructive” talks in Istanbul on April 14, the European Union’s foreign policy chief said yesterday. Oil rose this year amid concern that tension with Iran may disrupt global supply.
“It’s definitely a step forward that the parties are at least talking again,” said Thorbjorn Bak Jensen, an analyst at Global Risk Management in Middelfart, Denmark. “There is a significant risk premium in prices related to Iran, and even small steps towards a solution can have large impacts.”
Brent oil for June settlement dropped as much as $1.62 to $119.59 a barrel on the ICE Futures Europe exchange and was at $120.06 as of 11:13 a.m. local time. Futures fell in four of the past five weeks.
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04.16.2012
Metsä Group is developing its energy efficiency further. As a part of its sustainability agenda the Group has introduced targets for increasing energy efficiency and reducing carbon dioxide (CO2) emissions. Metsä Group’s energy efficiency improvements have been awarded international acknowledgements.
Metsä Group is already a major producer and consumer of bioenergy. The Group’s target is to further reduce fossil fuel based carbon dioxide emissions in production by 30% per product ton by year 2020 from 2009 level. At the same time, Metsä Group also targets to improve its energy efficiency by 10%.
To demonstrate its commitment to reducing emissions and improving energy efficiency, Metsä Group has initiated several major investments in bio energy production and reducing energy consumption. The investment programme includes four bioenergy projects and energy efficiency improvement projects in all of the Group’s mills. Metsä Group’s sustainability strategy is presented in more detail in the Sustainability Report available at the Group’s website.
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04.16.2012
Precision Press, part of Taylor Corp. and a packaging and label producer for the food, beverage and consumer markets, will be the first in the world to install the new Goss Sunday Vpak web offset printing system.
The new press will be configured for flexible packaging applications, with Sunday Vpak 500 web offset printing units, as well as a Goss in-line flexo and coating unit. The press will also be equipped for UV and EB curing. The system will go into operation at the company’s 213,000-square-foot facility in late 2012.
Print quality, quick-change sleeve technology and the prospect of lower production costs were key factors in the investment decision, along with Goss support resources in the United States, according to Lee Timmerman, president of Precision Press. Timmerman said the Sunday Vpak 500 press will accommodate a wide variety of film substrates, product formats and high-quality lithographic requirements, supplementing the company’s extensive web offset capabilities.
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04.13.2012
Meredith Corporation, a leading global media and marketing company serving women, announced several recent launches and new agreements that expand the reach of its brands across print and digital media in Europe, the Middle East and in Asia.
In Europe, Vienna-based Liquid 7, the digital content division of Atlantic Group, recently launched Sunny 7, an online network aimed at adult women. Sunny 7 integrates content from Meredith brands such as Better Homes and Gardens, Parents, Fitness and Family Circle across digital and social media. In the six weeks since launch, Sunny7 has attracted advertising from clients such as Nissan, Accor Hotels, Bank Austria, Ford, Clinique, Citroen, Johnson & Johnson and numerous others.
Also in Europe, Budapest-based Hamu es Gyemant will launch a quarterly localized edition of Diabetic Living in the Hungarian language with distribution planned via subscriptions and newsstand in Hungary and several other central and eastern European countries.
Athens-based Democratic Press just launched a Greek edition of Diabetic Living. Combined, these agreements represent the fifth and sixth local editions for Diabetic Living, which is also published locally in Australia, India, Italy and Russia.
In the Middle East, Riyadh-based Saudi Specialized Publishing Company (SSPC) will launch localized English-language editions of Parents and Better Homes and Gardens for the Gulf States markets of Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Bahrain and Oman. Since 2009, SSPC has published an Arabic-language edition of Parents in the Middle Eastern region. Today there are 10 local editions of Parents and five for Better Homes and Gardens.
In Asia, Manila-based Summit Media will add content from Meredith’s American Baby brand to its locally published Smart Parenting brand. Smart Parenting is the No. 1 parenthood brand for Filipino parents of children from birth to age 6. American Baby will strengthen the brand’s reach to expecting and new mothers.
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04.13.2012
The majority owner of the Twin Rivers Paper Co. is seeking to sell its stake in the company.
Brookfield Asset Management confirmed Wednesday that it is looking for a buyer for its 51 percent share in Twin Rivers, which employs approximately 1,200 at its paper operations in Madawaska and Edmundston, New Brunswick, and at a sawmill in Plaster Rock, New Brunswick.
Twin Rivers Paper previously was known as Fraser Paper. That company filed for bankruptcy, emerging in April 2010 as Twin Rivers. Brookfield Asset Management, formerly known as Brascan Corp., emerged as majority owner. The New Brunswick government is a general partner and creditors own minority shares in the company, as they exchanged debt for equity as part of the bankruptcy deal.
Dan Whyte, senior vice president at Brookfield, said the business has stabilized out of bankruptcy, has secured customers and suppliers, hammered out a union contract, gotten additional financing and made capital improvements in the Madawaska mill.
“The company, though it’s stable, will need to establish a longer term financing plan for growth. Where do you get that capital? Brookfield Asset Management is not prepared to put any more capital in that company,” said Whyte. “Paper is no longer a core business of ours. We hold 51 percent interest in Twin Rivers and we’re looking to divest that interest to a purchaser who’s prepared to work with the minority shareholders, existing stakeholders and someone who can support the business in a strategic direction.”
Brookfield, said Whyte, is focused on four business platforms: power, properties, infrastructure and finance. Paper is not core to Brookfield’s business, he said.
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04.13.2012
Manistique Papers is being sold. MPI Acquisition, LLC has reached an agreement to purchase the assets of Manistique Papers which filed for Chapter 11 bankruptcy last August.
Terms of the sale have not been disclosed. Manistique Papers says the plan is to continue operating with the same management and production team. The plant temporarily closed last August, but reopened in September.
Final bankruptcy court approval of the sale is scheduled for April 17 with the formal sale closing on or before May 4.
MPI Acquisition, LLC has been formed by investors from the Watermill Group, a Boston area private equity firm.
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04.13.2012
NewPage Corporation announced today that it has been awarded U.S. (8,096,479) and Canadian (CA 2678556) patents for PointTrac™ TT, a new paper-based substrate for printed Radio Frequency Identification (RFID) labels. PointTrac TT offers RFID label manufacturers the ability to combine thermal transfer printed variable analog information with advanced RFID chip technology. This technology facilitates low-cost production of printed paper RFID labels when compared with traditional multi-layer plastic film substrates.
RFID uses a wireless non-contact radio system for the transfer of data for automatic identification and tracking. PointTrac TT has special dual functionality built in so that printed barcodes on the label face can be read with a line of sight optical device or by using an out of sight electronic device.
"The NewPage PointTrac TT technology will allow RFID chips to become more widely used in shipping, tracking and transactions by making conversion to this technology more affordable," said Jim Sheibley, director of Specialty Business and Product Development.
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04.13.2012
Effective with shipments on or after May 1, 2012, Appleton Coated will be increasing the transaction prices on the following web grades:
Utopia Three; Utopia Book; Utopia Thin Book; Utopia Film Coat; All private label grades $1.50/cwt
Utopia GW Book $3.00/cwt
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04.13.2012
Cascades Inc., a leader in recovery and in the manufacturing of green packaging and tissue paper products, announces today the closure of its Norampac containerboard mill located in Trenton, Ontario. Following the rejection of the final offer made to the employees regarding the new collective agreement, the closure of the mill will be effective no later than June 1, 2012.
Difficult negotiations for the renewal of the collective agreement took place from May 2011 to March 2012 between Norampac's management and the CEP union, following which the two parties were unable to come to an agreement. Marc-André Dépin, President and Chief Executive Officer at Norampac, declared: “We are deeply disappointed that the Norampac – Trenton employees have turned down a positive and reasonable offer.”
“Despite substantial investments made by Cascades/Norampac to help increase its profitability, the Trenton mill has incurred significant losses over the years. These losses, combined with unacceptable labour relations, have left us with no other choice but to close the mill,” added Mr. Dépin.
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04.13.2012
AAA’s Fuel Gage Report as of 4/13/12
National Unleaded Regular:
Current Average - $3.901/gallon
Month Ago Average - $3.811/gallon
Year Ago Average - $3.812/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $4.153/gallon
Month Ago Average - $4.117/gallon
Year Ago Average - $4.121/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08
Current Exchange Rates as of 4/12/12
American Dollar to Canadian Dollar = 1.00159 (120 day high - 1.01463 on March 1, 2012; low 0.950905 on November 25, 2011)
American Dollar to Chinese Yuan = 0.158544 (120 day high – 0.158948 on February 13, 2012; low 0.156639 on November 28, 2011)
American Dollar to Euro = 1.3153 (120 day high - 1.416 on October 28, 2011; low 1.2669 on January 16, 2012)
American Dollar to Japanese Yen = 0.0123456 (120 day high – 0.0131979 on October 28, 2011; low 0.0119026 on March 21, 2012)
American Dollar to Mexican Peso = 0.0764158 (120 day high – 0.0793808 on March 14, 2012; low 0.0700535 on November 25, 2011)
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04.13.2012
The targeted media category, which includes b-to-b media, branded entertainment, direct marketing, outsourced custom content and pure-play consumer Internet & mobile services, is expected to grow 8.1% this year compared with last year, according to the “VSS Forecast Mid-term Update.” Veronis Suhler Stevenson, which publishes the forecast, said the b-to-b media portion of the category is expected to grow 5.5% this year.
Total U.S. communications industry spending is expected to reach $1.185 trillion this year, a gain of 5.6% over last year. That growth rate will outperform GDP growth this year, which is projected to be 4.4%.
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