Blog Keyword - Midland PaperClips - fine paper, packaging and supply systems distributor

03.12.2013

Kantar Media reports U.S. ad spending up 3% last year

Total ad spending in the U.S. reached $140.0 billion last year, up 3% over 2011, according to Kantar Media. Kantar tracks ad spending for measured media including TV, radio, magazines, newspapers, online (display ads only) and outdoor advertising.

During the fourth quarter, total ad spending was up 2% compared with the same period in 2011.

The fastest-growing media category last year was TV, which grew 8% over 2011, Kantar said. Outdoor advertising grew by 5%, and radio increased by 3%.

Categories that were down last year included magazines (down 2%), newspapers (down 3%) and online (down 3%).

Within the magazine category, ad spending in consumer magazines was down 3% from 2011, while ad spending in b2b magazines was down 2%.

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03.12.2013

RR Donnelley Awarded a Multi-Year Agreement by International Airlines Group

R. R. Donnelley & Sons Company today announced that it has been awarded a multi-year agreement by International Airlines Group (IAG) and its subsidiaries British Airways, Iberia and Avios. Under the terms of the agreement, which renews and expands the companies' relationship, RR Donnelley will provide a range of print management, direct response, warehousing and logistics services.

"RR Donnelley has worked with British Airways for many years" said Enrique Grande, IAG head of procurement. "This new contract extends their remit across all the companies within IAG, providing a more comprehensive and efficient service for the group".

International Airlines Group is one of the world's largest airline groups with 398 aircraft flying to 200 destinations and carrying more than 50 million passengers each year. British Airways is the UK's largest international airline and one of the world's leading global premium carriers. Iberia is Spain's largest air transport group and the third-largest in Europe, and the leading airline on routes between Spain and Latin America. Avios draw on its expertise and resources in travel and leisure rewards to offer choice, flexibility and exciting rewards to members of its programs.

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03.12.2013

Brown Printing Expands Mobile Solutions through the Acquisition of Nellymoser

Brown Printing Company today announced the acquisition of Nellymoser, a Boston-based mobile marketing and technology company.

Nellymoser is a mobile innovator and a pioneer in rich media delivery, having deployed over 800 print-to-digital campaigns in 2012 for 50 of the Top 100 magazines.

The company offers both a mobile companion application platform with self-service tools and packaged print-to-digital solutions, which are then, deployed by their customers as cross media campaigns. Campaigns typically include one or more brand activation points such as invisible watermarks, images, NFC and QR codes that are placed in magazines, catalogs, or on product packaging. Consumers scan the printed material with their mobile smartphones, thereby activating additional interactive content or digital direct response mobile marketing.

Nellymoser will operate as a division of Brown, a Gruner + Jahr Company, and will maintain its operations in the Boston area. Nellymoser has been driven by a talented and dedicated group of employees with over 10 years of mobile experience. Brown will retain the core team and structure to grow the business by continuing to deliver industry-leading mobile solutions.

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03.12.2013

Urban Outfitters Reports a 104% Jump in Q4 Operating Profit

Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, today announced net income of $83 million and $237 million for the fourth quarter and year ended January 31, 2013, respectively. Earnings per diluted share were $0.56 for the quarter and $1.62 for the year.

Total Company net sales for the fourth quarter of fiscal 2013 increased to a record $857 million or 17% over the same quarter last year. Comparable retail segment net sales, which include our comparable direct-to-consumer channel, increased 11% while comparable store net sales were flat. Direct-to-consumer returns at stores are charged against store sales. Excluding these returns, comparable store net sales would have been low single-digit positive. Comparable retail segment net sales increased 37% at Free People, 11% at Urban Outfitters and 7% at Anthropologie. Direct-to-consumer net sales surged by 44% for the quarter and wholesale segment net sales rose 22%.

For the year ended January 31, 2013, total Company net sales increased to a record $2.8 billion or 13% over the prior year. Comparable retail segment net sales increased 7% while comparable store net sales decreased by 1%. Excluding the direct-to-consumer returns at stores, comparable store net sales would have been low single-digit positive. Direct-to-consumer net sales increased by 31% for the year and wholesale segment net sales increased 12%.

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03.12.2013

MWV Price Increase on Tango Blanks and Tango C1S Heavyweights

Effective with shipments on April 1, 2013, program pricing for Tango Blanks and Tango Heavyweights (C1S 14 point and above) will increase $2.50 per CWT.

For customers who order these products in roll form, you will receive revised MSF pricing.

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03.12.2013

Grainger Reports February 2013 Sales Results

Grainger today reported sales results for the month of February 2013. Daily sales increased 6 percent versus February 2012, and included 4 percentage points from volume, 2 percentage points from price and 1 percentage point from acquisitions, partially offset by a 1 percentage point decline from foreign exchange. The month of February 2013 had 20 selling days versus 21 selling days in February 2012. The 2013 first quarter will have 63 selling days, one less than the 64 selling days in the 2012 first quarter.

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03.11.2013

Oil Drops for Second Day as China Industrial Output Slows

Brent crude fell for a second day as industrial production slowed in China, the world’s second- biggest oil consumer, and Saudi Arabia boosted output.

Futures slid as much as 0.8 percent after gaining 0.4 percent last week, snapping three weeks of declines. Saudi Arabia’s crude production rose in February from a 20-month low, according to an official with knowledge of the country’s oil policy. China started the year with the weakest industrial output since 2009, government data showed March 9. Iran, which is under Western sanctions because of its nuclear program, said the prospects for resolving the dispute have improved.

“We have no reason to rally,” amid rising Saudi output and reduced demand from refiners during seasonal maintenance, Andrey Kryuchenkov, an analyst at VTB Capital in London, said today in an e-mailed response to questions. Brent probably won’t drop below support at $109 a barrel, he said.

Brent for April settlement on the London-based ICE Futures Europe exchange declined as much as 83 cents to $110.02 a barrel and was at $110.12 a barrel as of 9:37 a.m. London time.

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03.11.2013

In-Print - Another layer of security from Tullis Russell

Earlier this year we launched In-Print, an innovative new security feature, via Canada Post. Now we'd like to share it with you and offer you the chance to use it too.

As a new security feature, In-Print can work beyond postage stamps and can also be used in a range of product labels.

It can be offered as an authentication feature and also has the capability to be used for brand identity markets, providing consumers with peace of mind that the product is genuine.

Key Benefits
Print layer is locked into the substrate
Simple, practical and cost effective way of verification
Can be combined with other security features
Coating designed to support printed security features
Reassures the customer that the product is genuine

Key features
Print under adhesive: Reveal a print under the adhesive when a stamp or label is removed
Print under silicone: Reveal a print on the release liner when a stamp or label is removed
UV reactive print under coating: Print remains invisible until placed under UV light
Manufactured to ISO 9001 standard
Suitable for Digital print methods

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03.11.2013

Orient Paper, Inc. Reports Fourth Quarter and Full Year 2012 Preliminary Results

Orient Paper, Inc., a leading manufacturer and distributor of diversified paper products in North China, today announced preliminary unaudited financial results for the fourth quarter and full year 2012 ended December 31, 2012.

As the Company has entered into negotiations for a potential sale of the land and buildings of its headquarters compound, the full audited financial results and annual report Form 10-K will be filed on or before March 18 2013, which is the deadline for submission to the Securities and Exchange Commission. The outcome of this negotiation is not expected to have a material impact on the Company's fourth quarter and full year 2012 results.

Key Highlights for Fourth Quarter 2012:
•Revenues up driven by accelerating ramp-up of new 360,000 tonne-per-year Corrugating Medium Paper line ("CMP") with sales volume up by 153.6% YoY
•Profitability affected by continuing weak product prices and a $2.8 million, one-time impairment loss due to the planned renewal of its legacy line to reinforce cost-leadership position in North China
•Excluding the non-cash charge related to the impairment loss, non-GAAP operating income was $5.7 million, and non-GAAP net income was $4.7 million.
•Progress in tissue paper business expansion to capture higher value and high growth market

Key Highlights for Full Year 2012:
•CMP sales volume rose by 135.3% YoY to 254,500 tonnes, of which 69.1% were from the new production line launched in December 2011
•Excluding the non-cash charge related to the impairment loss, non-GAAP operating income was $23.6 million, and non-GAAP net income was $17.3 million.
•Cash position significantly improved to $13 million supported by strong cash flow from operations
•Board implemented regular dividend payout after its first quarterly cash dividend of $0.0125 per share in the second quarter of 2012.

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03.11.2013

Jeesr Industries Starts Up New Tissue Production Line in Morocco

Jeesr Industries on November 19, 2012 started up the first state-of-the-art tissue machine in Morocco at its facility in Berrechid, close to Casablanca.

Metso supplied the new machine and said the Advantage DCT 100+ line came on stream smoothly and has been producing high quality paper from the start.

“This investment is very important to us and we are of course pleased to see that the machine is operating according to our targets and that Metso have fulfilled our expectations,” said Souheil Badaa, Chief Marketing Officer, Novatis Group.

Metso’s delivery included a complete production line with stock preparation equipment, an Advantage DCT 100+ tissue machine and a rewinder and wrapping equipment.

The delivery also included an extensive automation package including Metso DNA machine, process and integrated drive controls, and a Metso IQ quality control system with Metso IQ Fiber Weight Measurement.

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03.11.2013

Newspapers Remain Top Sports Source For Men

Between social media, mobile and cable TV, sports news outlets have been proliferating -- but newspapers are still the top source for sports news for sports fans. Among male sports fans ages 18-54, 76% cited the sports section of their local newspaper Web site as one of their “go-to” sources for sports news, while 69% cited the print edition.

That compares with 66% for ESPN.com, 46% for league sites, 45% for Yahoo Sports.com, and 45% for ESPN Sports Center. Further down the list, 33% said sports talk radio and 23% said Sports Illustrated or SI.com.

The finds are from a survey by M/A/R/C for the Newspaper National Network. The poll of 716 men ages 18-54, including in-depth interviews with 404, found that this key audience demo prefers both print and online newspapers to any other source for sports content.

Even more striking, men ages 18-54 who didn’t classify themselves as regular newspaper readers still cited newspaper Web sites as their top source of sports news.

Overall, 75% of non-regular readers cited newspaper Web sites as a go-to source, compared to 71% for ESPN.com, 40% for Yahoo Sports.com, and 38% for ESPN Sports Center. Sports talk radio trailed at 27%, and Sports Illustrated and SI.com came in at 16% and 13% among non-regular readers.

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03.11.2013

Bertelsmann Welcomes Clearance of Penguin Random House by ACCC in Australia

The ACCC in Australia will approve the planned combination of Random House and Penguin Group, the book-publishing operations of the two international media companies Bertelsmann and Pearson, without any restrictions. This was announced today by the competent authorities. Bertelsmann and Pearson welcome this ruling as an important step on the path towards completing the planned transaction. They had announced the founding of Penguin Random House last October.

On February 14, 2013 the U.S. Department of Justice had already cleared the planned merger – also without restrictions. Meanwhile, the planned transaction is being reviewed by several other antitrust authorities in different parts of the world. Bertelsmann and Pearson can finalize the transaction as soon as all the necessary approvals have been received. The two companies are confident of receiving these approvals over the course of the year.

The planned publishing house, in which Bertelsmann will own 53 percent and Pearson 47 percent of shares, will encompass all of Random House and Penguin Group’s publishing units in the U.S., Canada, the U.K., Australia, New Zealand, India and South Africa, as well as Penguin’s operations in China and Random House’s publishers in Spain and Latin America.

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03.08.2013

John Wiley & Sons, Inc., Reports Third Quarter Fiscal Year 2013 Results

John Wiley & Sons, Inc., a global provider of knowledge and knowledge-based services in areas of scientific, technical, medical, and scholarly research (STMS); professional development (PD); and education today announced results for the third quarter of fiscal year 2013:

Adjusted:
Revenue grew 6% to $461 million excluding divested consumer publishing programs and including acquisitions. Revenue grew 1% excluding both the divested and acquired assets. Digital revenue growth in Professional Development and Global Education was offset by continued softness in print books and lower STMS journal revenue, as expected

Adjusted revenue change by segment, excluding FX and divested consumer publishing revenue: STMS -3%, PD +14%, and Education +18%

As noted in its December second quarter earnings announcement, Wiley announced an expansion of its ongoing program to restructure and realign its cost base with current and anticipated future market conditions. When implemented, the plan will reduce operating expense and the cost of sales to improve margins, profitability and accelerate earnings growth while providing increased capacity for investment to grow its digital businesses. Working with a third-party restructuring firm since January, the Company is progressing towards finalizing plans to realize approximately $80 million in cost savings on a run-rate basis by the end of April 2014. The Company is targeting a majority of the cost savings achieved to improve margins and earnings, while some will be reinvested in high growth digital business opportunities.

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03.08.2013

Rite Aid Reports Same Store Sales for February

Rite Aid Corporation today announced sales results for February.

For the five weeks ended March 2, 2013, same store sales decreased 3.6 percent over the prior-year period. February front-end same store sales decreased 1.3 percent while February front-end same store sales attributable to flu-related over-the-counter products were flat. Pharmacy same store sales, which included an approximate 695 basis points negative impact from new generic introductions, decreased 4.7 percent. Prescription count at comparable stores increased 0.3 percent over the prior-year period. This number includes a decrease of 0.1 percent attributable to flu-related prescriptions and flu shots.

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03.08.2013

Gap Inc. Reports February Sales

Gap Inc. today reported that February 2013 net sales increased 11 percent compared with last year.

Net sales for the four-week period ended March 2, 2013 were $966 million compared with net sales of $874 million for the four-week period ended February 25, 2012. Due to the 53rd week in fiscal year 2012, February 2013 comparable sales are compared to the four-week period ended March 3, 2012. On this basis, the company’s comparable sales for February 2013 were up 3 percent compared with a 4 percent increase for February 2012.

"Building on our successful 2012 performance, we’re pleased with the company’s overall sales results in February," said Glenn Murphy, chairman and chief executive officer of Gap Inc.

Comparable sales by global brand for February 2013 were as follows:
•Gap Global: positive 2 percent versus negative 2 percent last year
•Banana Republic Global: negative 5 percent versus positive 11 percent last year
•Old Navy Global: positive 6 percent versus positive 5 percent last year

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03.08.2013

Intertape Polymer Group Reports Improved 2012 Fourth Quarter and Annual Results

Intertape Polymer Group Inc. today released results for the fourth quarter and year ended December 31, 2012. All dollar amounts are US denominated unless otherwise indicated.

Revenue for the year ended December 31, 2012 decreased 0.3% to $784.4 million compared to $786.7 million in 2011. After adjusting for the closure of the Brantford facility in the second quarter of 2011, revenue increased 0.3% in 2012 from $781.7 million in 2011. The adjusted selling prices, including the impact of product mix, increased approximately 3% partially offset by the adjusted sales volume decrease of approximately 3%. An improved pricing environment that began in 2011 as well as the reduction in sales of low-margin products were the primary reasons for the increase in selling prices including the impact of product mix. The decrease in sales volume was primarily due to the progress the Company made toward reducing sales of low-margin products partially offset by an increase in sales of new products.

Fourth quarter revenue increased 3.4% to $189.3 million, compared to $183.0 million in 2011 and decreased 4.6% sequentially from $198.5 million for the third quarter of 2012.

Sales volume for the fourth quarter of 2012 increased approximately 6% compared to the fourth quarter of 2011 primarily due to increased demand for tape products. The decrease in the sales volume of approximately 3% when compared to the third quarter of 2012 largely reflects normal seasonality.

Selling prices, including the impact of product mix, decreased approximately 3% in the fourth quarter of 2012 compared to the fourth quarter of 2011 primarily due to a shift in the mix of products sold. When compared to the third quarter of 2012, selling prices, including the impact of product mix, decreased by approximately 2% primarily due to a shift in the mix of products sold.

Gross profit totalled $141.0 million for 2012, an increase of 23.2% from 2011. Gross margin was 18.0% in 2012 and 14.6% in 2011. The increase in gross profit in 2012 compared to 2011 was primarily due to an improved pricing environment, manufacturing cost reductions, increase in sales of higher margin products and the closure of the Brantford, Ontario manufacturing facility in 2011 partially offset by lower sales volumes. The increase in gross margin in 2012 compared to 2011 was primarily due to manufacturing cost reductions, an increase in sales of higher margin products, an improved pricing environment and the progress made toward reducing sales of low-margin products.

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03.08.2013

Wood Fiber Costs for Pulp Mills Fell in North America and Latin America in 4Q 2012

Wood fiber prices trended downward in the local currencies in many of the key pulp-producing countries of the world in the fourth quarter of 2012, according to the report Wood Resource Quarterly (WRQ).

However, as a result of the weakening US dollar, wood fiber prices actually increased in US dollar terms in a number countries and the Softwood Wood Fiber Price Index (SFPI) was up slightly (+0.1%) in the 4Q/12 to $100.13/odmt. The biggest increases from the 3Q to the 4Q occurred in Eastern Canada, Finland, France and New Zealand, WRQ added.

The price declines in the local currencies were mainly the result of an increased supply of softwood fiber in regions with extensive lumber production. In the US Northwest, chip prices fell as much as 27 percent during 2012 and pulp mills in the region had some of the lowest softwood fiber costs in the world in the 4Q/12.

Additional volumes of residual chips from increased lumber production, reductions in pulp production and pulpmill outages, and large supplies of pulplogs were all factors that contributed to the dramatic turnaround in fiber costs during 2012. A similar trend was seen in Western Canada, where prices in the 4Q/12 were down 22 percent from late 2011, reaching their lowest levels in three years.

Hardwood fiber price movements were mixed, with hardwood pulplog prices generally trending downward in many of the key hardwood pulp-producing regions in both local currencies and in US dollar terms. This resulted in a decline in the Hardwood Wood Fiber Price Index (HFPI) to US$104.80/odmt in the 4Q/12. This was down 1.5 percent from the previous quarter and 7.8 percent from the 4Q/11.

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03.08.2013

Mag Bag: Redbook, Taste of Home Get Revamps

More magazines are unveiling new looks, as publishers reposition titles to keep pace with the changing interests and habits of readers. Both Redbook and Taste of Home have been revamped to make them more social and mobile-friendly.

Redbook’s editorial overhaul, on display with its April issue, is moving the title (traditionally a bit staid, compared to other women’s lifestyle titles) in a more “fabulous” direction, with more fashion, beauty, food and home content.

Among other things, the magazine will deliver more upscale-but-affordable clothing and décor pointers, with “high design available at accessible price points.” The magazine is also introducing “Team Red,”bringing together celebrity contributors such as Kelly Osbourne on fitness, Tori Spelling on home décor, The Chew’s Carla Hall on food, and makeup artist Mally Roncal on beauty.

On the design side, Redbook is getting updated graphic treatments, more vivid colors, and more prominent photography. The magazine is also including e-commerce activation with Eye Capture digital watermark technology, allowing readers to shop from its pages and share content with friends using smartphones. The Web site, Redbookmag.com, is also offering shoppable content with Kneon’s HyperPhoto a new “Shop Now” button.

The Reader’s Digest Association is revamping Taste of Home, giving it a new look and 20% more pages of editorial content. Now perfect-bound and printed on a heavier stock, Taste of Home will include more healthy recipes and health-related content, as well as clip-and-save recipe cards, and a new logo. According to the fall 2012 MRI index, Taste of Home reaches 11.1 million readers.

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03.08.2013

Content Subscription Site NSFW Corp. Expanding into Print

Paul Carr, a former TechCrunch writer, is prepping a relaunch of his NSFW Corp., a subscription-based content site featuring a comedic spin on current and world events that he launched last year.

The launch touched a nerve among media watchers, much like Andrew Sullivan has more recently done with his subscription-only site The Dish, mainly because it aims to thrive only on reader revenues, no advertising, on a small-market niche scale.

Throughout, Carr has been loudly vocal about his company's seemingly against-the-grain strategies. From a recent blog post:

"Our entire business is an anachronism. A throwback to old media. An attempt to cling on to a bygone era where news organisations would maintain newsrooms, from which editors would send journalists off to far-flung locations, to spend weeks or months reporting a story that may or may not ever be published. And where those stories that do make it to press are first subjected to a barrage of fact-checking, copy editing, art directing and re-editing — before being locked behind a paywall marked “KEEP OUT, SUBSCRIBERS ONLY!”

He's delighted in showing how a digital media company can succeed using old-media strategies. Indeed, NSFW's content is, more often than not, long-form investigative content. Carr cites a story during the election cycle that involved renting a house for a reporter to live in Salt Lake City and report on local residents' impressions of Mitt Romney. "They can be heavily embedded, heavily personal stories about real subjects where we send real reporters to real places," he says.

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03.08.2013

Cascades Antibacterial Paper Towel Gains Multiple Product Recognitions

Today, Cascades Tissue Group announced its Cascades Antibacterial paper towel secured a “4-Star” Environmental Leader Technology Review Score and has been named a 2013 Edison Awards Finalist in the Consumer Packaged Goods: Cleaning Solutions category. Both mark prestigious recognition for the novel paper towel that was launched in 2010 on the Canadian Away-from-Home market and in 2012, in United States.

The Cascades Antibacterial Paper Towel provides a simple and effective way to further reduce bacterial contamination and transmission. Unlike ordinary paper towels, it almost instantly kills over 99.99 percent of harmful bacteria. By integrating a safe active ingredient into a dry format, the distinctly green-colored paper towel compensates for people's imperfect hygiene habits without changing how they wash or dry their hands.

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03.08.2013

AAA Fuel Gage & Exchange Rates

AAA Fuel Gage 3/08/13
National Unleaded Regular:
Current Average - $3.712/gallon
Month Ago Average - $3.546/gallon
Year Ago Average - $3.758/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $4.101/gallon
Month Ago Average - $3.997/gallon
Year Ago Average - $4.089/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08

Current Exchange Rates as of 3/08/13
American Dollar to Canadian Dollar = 0.971128
American Dollar to Chinese Yuan = 0.160788
American Dollar to Euro = 1.310378
American Dollar to Japanese Yen = 0.010446
American Dollar to Mexican Peso = 0.078497

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03.08.2013

WTI Oil Set for First Weekly Gain in Three; Brent System Resumes

West Texas Intermediate oil headed for the first weekly gain in three weeks. Brent crude’s premium to New York futures narrowed as a North Sea pipeline network resumed five days after it was shut because of a leak.

WTI was little changed after rising 1.3 percent yesterday, the most in more than three weeks, as U.S. jobless claims fell to a six-week low. Data today will probably show the U.S. added more jobs in February, according to a Bloomberg survey of economists. Oil may drop next week as weaker demand from refineries boosts U.S. inventories, a separate survey showed. The North Sea Brent pipeline system resumed pumping yesterday after an unplanned halt on March 2, according to Abu Dhabi National Energy Co. (TAQA) PJSC, the operator known as Taqa.

“Risk appetite is growing,” said Gerrit Zambo, an oil trader at Bayerische Landesbank in Munich. “But the fundamental situation in the oil market is well-supplied.”

WTI for April delivery was at $91.52 a barrel, down 4 cents, in electronic trading on the New York Mercantile Exchange at 10:23 a.m. London time.

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03.08.2013

TravelAge West to debut adventure travel publication

Travel industry magazine TravelAge West is set to launch Explorer, a publication for travel agents that will focus on adventure, soft adventure and experiential travel as well as eco-tourism.

“These days, the travel industry is witnessing incredible growth in the adventure-travel market, and travelers are looking for more in-depth, unique experiences when they are planning a vacation,” said Janeen Christoff, managing editor, in a statement. “Our goal at Explorer is to provide our readers with tools and inspiration to increase this aspect of their businesses.”

The semiannual publication will provide readers with on-site reviews, packages, sales tools and related products for the experiential travel market. The first issue will be published April 29.

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03.08.2013

Arctic Paper announces a general price increase of 5-7% for coated fine papers

During 2012 Arctic Paper has taken several measures to further reduce costs and increase efficiency. In 2013 the company will continue these efforts. However, current manufacturing cost levels, based on high cost levels for raw material, energy and transportation make a paper price increase unavoidable.

Arctic Paper wishes to announce to its customers a price increase on all CWF paper grades, both in sheets and reels. The price increase will range from 5-7% and will differ from the current price levels per country and paper grade.

The price increase will affect deliveries from 15 April 2013. Further price increases in 2013 seems to be inevitable, to secure a minimum profitability.

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03.08.2013

Greenfield's RR Donnelley & Sons company closing

Citing "changing market conditions," the RR Donnelley & Sons company in Greenfield, previously known as Banta publishing, informed its employees Wednesday that it will be closing in May. Nearly 170 employees will lose their jobs as a result of the closing.

Greenfield city manager Ron Coffey said his office was notified of the closing early Wednesday morning. "Our thoughts and prayers go out to all the employees," said Coffey, who noted that the closing will have a "widespread impact" on the village.

A person reached at the company office late Wednesday morning said officials had no comment at this time. Coffey said he was told there would be a statement issued later from the corporate communications office.

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03.07.2013

Limited Brands Reports February 2013 Sales

Limited Brands, Inc. reported a comparable store sales increase of 3 percent for the four weeks ended March 2, 2013, compared to the four weeks ended March 3, 2012. The company reported net sales of $712.7 million for the four weeks ended March 2, 2013, compared to net sales of $653.9 million for the four weeks ended Feb. 25, 2012.

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03.07.2013

Verso Paper Corp. Reports Fourth Quarter and Year-End 2012 Results

Verso Paper Corp. today reported financial results for the fourth quarter and year ended December 31, 2012. Results for the quarters ended December 31, 2012 and 2011 include:
• Operating income of $60.9 million in the fourth quarter of 2012, compared to operating loss of $36.0 million in the fourth quarter of 2011.
• Net income of $25.5 million in the fourth quarter of 2012, or $0.48 per diluted share, compared to net loss of $67.9 million, or $1.29 per diluted share, in the fourth quarter of 2011.

Verso's net sales for the fourth quarter of 2012 decreased $89.3 million, or 19.8%, compared to the fourth quarter of 2011, reflecting a 17.0% decline in total sales volume, which was driven by the closure of three paper machines late last year and the closure of the Sartell mill in the third quarter of this year, as well as a 3.4% decrease in the average sales price per ton for all of our products. Verso's gross margin was 14.0% for the fourth quarter of 2012 compared to 12.6% for the fourth quarter of 2011.

Verso reported net income of $25.5 million in the fourth quarter of 2012, or $0.48 per diluted share, which included $47.4 million of net gains from special items, or $0.90 per diluted share, primarily due to proceeds from the insurance settlement related to the fire and explosion at our Sartell mill. Verso had a net loss of $67.9 million, or $1.29 per diluted share, in the fourth quarter of 2011, which included $51.5 million of charges from special items, or $0.98 per diluted share.

Verso's net sales for 2012 decreased $247.9 million, or 14.4%, compared to 2011, reflecting an 11.1% decrease in volume for all of our products, which was driven by the shutdown of three paper machines late last year and the closure of the Sartell mill in the third quarter of this year, as well as a 3.7% decrease in sales prices compared to 2011.

For the year ended December 31, 2012, Verso recorded special items totaling $57.8 million, or $1.09 per diluted share, primarily related to restructuring costs associated with the closure of our Sartell mill, offset by the proceeds from the insurance settlement related to the fire and explosion at our Sartell mill. For the year ended December 31, 2011, special items of $82.8 million, or $1.57 per diluted share, were primarily related to restructuring costs associated with the shutdown of three paper machines, losses related to debt refinancing, goodwill impairment, and the negative impact of de-designating certain hedges.

Excluding special items, net loss was $116.0 million, or adjusted diluted loss per share of $2.19, for the year ended December 31, 2012. Excluding special items, net loss was $54.3 million, or adjusted diluted loss per share of $1.02, for the year ended December 31, 2011.

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03.07.2013

Meredith Corporation Confirms Discussions With Time Warner

Meredith Corporation confirmed today that it held discussions with Time Warner, Inc. (NYSE: TWX; www.timewarner.com) regarding a potential combination of Meredith's National Media Group with Time Inc.'s Lifestyle and Style & Entertainment brands. Earlier today, Time Warner announced that it is going to spin off its entire Time Inc. subsidiary into a separate publicly traded company.

Meredith Chairman and Chief Executive Officer Stephen M. Lacy said, "At Time Warner's initiation, we discussed combining our National Media Group with certain Time Inc. brands to create a new publicly traded company. There are natural synergies between our two portfolios; however, we respect Time Warner's decision and certainly remain open to continuing a dialogue on how our companies might work together on future opportunities."

Lacy continued, "Going forward, Meredith will continue to enhance shareholder value through ongoing execution of our successful Total Shareholder Return strategy and building on our company's strong momentum. We are in an excellent financial position given the significant free cash flow our businesses generate and our low debt level. We will continue to focus on initiatives designed to maximize the value of our attractive national and local media and marketing services assets, including strategic acquisitions. "

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03.07.2013

Time Warner Inc. Announces Plan to Separate Time Inc.

Time Warner Inc. today announced that its Board of Directors has authorized management to proceed with plans for the complete legal and structural separation of Time Inc. from Time Warner. Following the proposed transaction, Time Inc. would be an independent, publicly traded company. Time Warner aims to complete the proposed transaction by the end of the calendar year.

Time Warner Chairman and Chief Executive Officer Jeff Bewkes said: "After a thorough review of options, we believe that a separation will better position both Time Warner and Time Inc. A complete spin-off of Time Inc. provides strategic clarity for Time Warner Inc., enabling us to focus entirely on our television networks and film and TV production businesses, and improves our growth profile. Time Inc. will also benefit from the flexibility and focus of being a stand-alone public company and will now be able to attract a more natural stockholder base. As we saw with the prior spin-offs of Time Warner Cable and AOL, we expect the separation will create additional value for our stockholders."

Time Inc. CEO Laura Lang has advised Time Warner that she will stay on through this process and will help in identifying and selecting a successor. "Laura indicated to me that we should find a different kind of CEO for this new public company, and I respect her decision," Bewkes said. "She has been a great partner who has given Time Inc. forward momentum to make this transition possible, and I look forward to working with her to select the right leader to head the company as an independent entity."

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03.07.2013

American Eagle Outfitters Reports Record Annual Sales

American Eagle Outfitters, Inc. today reported adjusted fiscal year 2012 earnings for the 53 weeks ended February 2, 2013 of $1.39 per share, a 43% increase from fiscal year 2011 adjusted earnings of $0.97 per share for the 52 weeks ended January 28, 2012. GAAP earnings of $1.16 per share this year include a loss from discontinued operations of ($0.16) per share, a tax benefit of $0.06 per share and restructuring and store impairment charges of ($0.13) per share. The EPS figures refer to diluted earnings per share.

Robert Hanson, chief executive officer stated, ?I?m extremely pleased with our progress in 2012 as the team delivered on our near-term priorities and exceeded our targeted financial metrics. In a competitive and volatile consumer environment, we drove a strong top line on leaner inventories, reduced markdowns and achieved cost leverage. We remain focused on our strategic plan aimed at fortifying our brands and processes and growing our business across North America. Concurrently, we are laying the ground work for transformational global expansion, while continuing to drive strong returns to our shareholders.?

For the 14 weeks ended February 2, 2013 the company reported adjusted earnings of $0.55 per share, a 41% increase compared to adjusted EPS of $0.39 for the 13 weeks ended January 28, 2012. EPS was in line with the company?s guidance. GAAP earnings of $0.47 per share this year include a tax benefit of $0.04 per share and restructuring and store impairment charges of ($0.12) per share. A reconciliation of GAAP to non-GAAP financial measures is provided in the following tables.

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03.07.2013

Ahlstrom's Sustainability Report 2012 published

Ahlstrom, a global leader in high performance fiber-based materials, published today its third stand-alone Sustainability Report. The publication can be viewed as PDF file at www.ahlstrom.com> Sustainability.

The Sustainability Report 2012 complies with the B+ application of the Global Reporting Initiative G3 guidelines (version 3.0). The quantitative information on economic, social and environmental responsibility has been assured by PricewaterhouseCoopers Oy.

Ahlstrom offers products with purpose that protect people, purify air and liquids, and provide surface and structure for its customers' products. The products are made from sustainably sourced raw materials. Last year, 91% of the fibers used were from renewable sources, 81% certified or controlled wood. The Ahlstrom Supplier Code of Conduct was successfully implemented among Ahlstrom's main raw material suppliers.

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03.07.2013

Aptar Group Reports Fourth Quarter and Annual Results

AptarGroup, Inc. today reported fourth quarter and annual results. The Company also updated the status of its previously announced plan to optimize certain European operations.

For the quarter ended December 31, 2012, reported sales increased 5% to $571 million from $545 million a year ago. Recently acquired Aptar Stelmi contributed approximately $31 million or 6% to the quarterly sales growth. Changes in currency exchange rates negatively impacted sales by approximately 3%.

For the year ended December 31, 2012, reported sales of $2.3 billion were approximately equal to the prior year sales. Changes in currency exchange rates negatively impacted sales by approximately 5%. Recently acquired Aptar Stelmi contributed approximately $57 million or 2% to the annual sales growth.

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03.07.2013

WTI Trades Near Lowest in 10 Weeks; Brent Pipeline Starts

West Texas Intermediate traded near its lowest closing price this year after U.S. crude stockpiles increased almost five times more than estimated. The North Sea Brent pipeline system resumed operation after a five-day halt.

WTI futures fluctuated after falling yesterday for the fourth time in five days. Crude supplies increased by 3.8 million barrels last week, a U.S. Energy Department report showed yesterday, compared with a projected 788,000 barrels in a Bloomberg News survey. The Brent pipeline is flowing at less than full capacity, a spokesman for operator Abu Dhabi National Energy Co. (TAQA) PJSC, known as Taqa, said by telephone from Abu Dhabi, capital of the United Arab Emirates.

“The Energy Department report yesterday was bearish for crude,” said Michael Poulsen, an analyst at Global Risk Management Ltd. in Middelfart, Denmark. “Fundamentally, the oil market remains balanced.”

WTI for April delivery was at $90.73 a barrel, up 30 cents, in electronic trading on the New York Mercantile Exchange at 10:58 a.m. London time.

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03.07.2013

Costco Wholesale Corporation Reports February, Second Quarter and Year-to-Date Sales Results

Costco Wholesale Corporation today reported net sales of $7.58 billion for the month of February, the four weeks ended March 3, 2013, an increase of eight percent from $7.01 billion during the similar period last year.

For the twenty-six weeks ended March 3, 2013, the Company reported net sales of $51.35 billion, an increase of nine percent from $47.22 billion during the similar period last year.

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03.07.2013

Stein Mart, Inc. Reports February 2013 Sales

Stein Mart, Inc. today reported sales and comparable store sales for the four-week period ended March 2, 2013. As a reminder, the extra 53rd week in fiscal 2012 created a timing shift for fiscal 2013, resulting in a one-week difference between our fiscal reporting and comparable store sales reporting periods.

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03.07.2013

Publishers Raising Digital Sub Prices, Paywalls Pay Off

Publishers who use Press+, the metered access platform created by Journalism Online and now owned by RR Donnelley, are raising subscription prices and lowering the number of articles visitors can view for free before having to pay.

Far from seeing online readership drop after implementing paywalls (as once feared), publishers feel confident enough to push the model further for additional revenues.

Among the more than 400 publishers using the Press+ platform, the average price for a monthly subscription has increased from $6.66 in July 2011 to $9.26 today, for 39% growth in less than two years; 5% of that increase came in the last six months, a survey of Press+ customers conducted by the company.

Most publishers have reduced the number of articles visitors can view for free before running into a subscription roadblock -- from 13 in January 2012 to 10 today. Currently, 35% of Press+ publishers allow free access to five articles or less, while 41% allow free access to six to 10 articles, 18% allow access to 11 to 15 articles, and 5% allow access to 16 articles or more.

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03.07.2013

PaperWorks Industries sells flexible packaging assets to Exopack

PaperWorks Industries, Inc. is pleased to announce the March 1 sale of its flexible packaging assets to Exopack, a $900M flexible packaging company serving the pet food, frozen food, meat and cheese, beverage, industrial, electronics and medical devices through 17 North American production facilities. Both Exopack and PaperWorks are owned by the private investment firm Sun Capital Partners, Inc.

“We plan to move all of our flexible manufacturing equipment to Exopack sites in North America in the coming months,” said Lisa Pruett, Senior Vice President Sales at PaperWorks Packaging Group. “The relationships we have built with our flexible packaging customers are extremely valuable to us, which is why we will maintain the day-to-day management of the business.”

PaperWorks customers will have the opportunity to tap into Exopack’s vast resources and manufacturing footprint. “I can assure our customers that there will be absolutely no disruption to supply and quality, and that service and reliability will only be improved by Exopack’s resources,” said Pruett.

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03.07.2013

SFI Applauds EU's New Illegal Logging Rules

Kathy Abusow, President and CEO of the Sustainable Forestry Initiative® Inc. (SFI®), today applauded the European Union Timber Regulation (EUTR), which took effect March 3 and prohibits illegally harvested timber or products derived from such timber to be brought in the European Union.

"Illegal logging undermines responsible forest governance, damages wildlife habitat, and reduces the potential for forests to provide stable supplies of products and support local communities," Abusow said. "The EUTR, just like the U.S. Lacey Act, is an important regulatory tool to address illegal logging and enable legal global trade in forest products."

Abusow is speaking at The Economist World Forests Summit in Stockholm, Sweden, on the timely topic of timber regulations that prohibit the sale of illegally harvested timber. On this panel, Abusow applauded timber regulations as one of many important mechanisms to combat illegal logging. She also asked the audience to remember that while illegal logging is a global problem, responsible forestry is the solution given the many economic, environmental, and social values that working forests support.

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03.07.2013

UPM’s commitment to sustainable products recognised in the EU Ecolabel Communication Award 2012

UPM has been awarded the EU Ecolabel Communication Award 2012 in the Producer/Retailer category. UPM Paper is the largest producer of newsprint, graphic and copying papers with the EU Ecolabel. Third-party ecolabels prove the environmental quality of products and support customers in their choices.

"With so many different environmental labels currently existing, producers and consumers know that having the EU Ecolabel is the best way to prove throughout Europe that their products have excellent environmental performance", says Michele Galatola, EU Ecolabel Coordinator, DG Environment, European Commission.

The EU Ecolabel Communication Award recognises holders of the EU Ecolabel that have shown outstanding achievement in increasing public awareness and knowledge of the EU Ecolabel through promotional campaigns. The jury is composed of the European Commission, representatives of several Competent Bodies, as well as the press and a representative of an NGO.

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03.06.2013

Walgreens February Sales Decrease 2.2 Percent

Walgreens had February sales of $5.75 billion, a decrease of 2.2 percent from $5.88 billion for the same month in fiscal 2012. Last year’s total February sales benefited from one extra day because of the leap year. Excluding last February’s leap day, this year’s February sales increased 1.5 percent. Total front-end sales decreased 3.1 percent compared with the same month in fiscal 2012, and were flat when excluding last February’s leap day. All comparable store sales and comparable prescription figures below compare the first 28 days in February 2012 to the 28 days in February 2013.

Comparable store front-end sales decreased 1.4 percent, while customer traffic in comparable stores decreased 4.9 percent and basket size increased 3.5 percent.

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03.06.2013

Torstar Corporation Reports Fourth Quarter Results

Torstar Corporation today reported financial results for the fourth quarter ended December 31, 2012.

Highlights for the quarter:
Revenue was $395.7 million in the fourth quarter of 2012, down $29.6 million from $425.3 million in the fourth quarter of 2011. Excluding the impact of acquisitions and a decrease at TMGTV resulting from lower product sales, revenue was down $23.0 million (5.4%) in the fourth quarter. Net income attributable to equity shareholders was $24.1 million ($0.30 per share) in the fourth quarter, down $40.2 million ($0.51 per share) from $64.3 million ($0.81 per share) last year.

Highlights for the year:
Revenue was $1,485.7 million in 2012, down $63.1 million from $1,548.8 million in 2011. Excluding the impact of acquisitions and a decrease at TMGTV resulting from lower product sales, revenue was down $64.9 million (4.2%) in 2012. Net income attributable to equity shareholders was $103.2 million or $1.30 per share in 2012 down $114.5 million or $1.44 per share from $217.7 million or $2.74 per share in 2011. Excluding the impact of CTV Inc. in 2011, Torstar would have reported net income attributable to equity shareholders of $143.1 million or $1.80 per share in 2011.

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03.06.2013

Smurfit Kappa UK confirms significant investment in the South West during 2013

Smurfit Kappa the European leader in innovative paper based packaging has announced a major investment package consisting of a six-colour flexographic, rotary die-cut press, an enhanced material handling system and corrugator upgrades for its Yate, Bristol plant.

The main investment is part of Smurfit Kappa’s continuing development of its High-Quality Post Print (HQPP) service at the BRC and AIB certified site. Supplying a wide range of customers in the South of England, as well as major national brands and Pan-European customers, Smurfit Kappa Yate has drawn from the knowledge and experience of award winning HQPP, six-colour printing expertise at other Smurfit Kappa UK plants. As part of the development process, John Wroot has moved to become Operations Director at Yate from Smurfit Kappa’s Chelmsford plant, one of Europe’s foremost and award winning HQPP plants.

Beyond the new machine outlay Smurfit Kappa Yate is upgrading the plant’s material handling system to give greater accuracy and reliability, and when combined with modular enhancements on the corrugator will drive additional improvements in quality and service at the high volumesite.

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03.06.2013

Metsa Board to Hike Prices for White-top Kraftliner in Europe, Middle East and Africa

Metsa Board announced that it will increase the prices of all Kemiart white-top kraftliner grades by EUR 50 per ton in Europe, the Middle East and Africa, effective for deliveries as of April 8.

Metsa Board said the price hike is due to the continued high input costs associated with production.

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03.06.2013

Arandell Does it Again – Places in the WOA Print Awards

Arandell, announced today that they received 2nd and 3rd place in the 2012/2013 Web Offset Association’s Print Awards, held annually by the Printing Industries of America.

Arandell’s 2nd place award was for producing Peruvian Connection | Summer 2012, using heatset printing 4/color on coated paper (perfect bound). Arandell was also commended for Zingerman’s | 2012 Fall Buyers Guide which was produced using heatset printing 4/color on uncoated paper. The catalogs were assessed on registration, level of difficulty, folding / binding / finishing and overall craftsmanship of product.

Jim Treis, Arandell Executive Vice President of Sales and Marketing, stated, “The WOA Print Awards demonstrate the hard work and tireless effort our teams put forth to create a flawless artistic marketing piece. Having the opportunity to win a category is not an easy challenge and something to be very proud of.”

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03.06.2013

Catalyst Paper Q4 results impacted by lower sales volumes, higher maintenance and stronger Canadian dollar

Catalyst Paper results in the fourth quarter were negatively impacted by lower sales volumes, higher maintenance spending and a stronger Canadian dollar.

Catalyst posted a net loss of $35.2 million for the quarter, in contrast to net earnings of $655.7 million in the third quarter, when the one-time gains realized on emergence from creditor protection were booked. Before specific items, net losses were $15.7 million and $7.5 million in Q4 and Q3 respectively. Adjusted EBITDA was $7.2 million in Q4, with no impact from restructuring costs, and $13.8 million in Q3 ($14.0 million before restructuring costs).

Market conditions were mixed during the fourth quarter, with North American paper demand down from the third quarter for directory and newsprint, and up for coated and uncoated grades. Benchmark prices were up for newsprint and coated and otherwise stable for paper, while there was moderate benchmark price recovery for pulp. A market curtailment at Powell River was necessary over the holidays to balance production with orders, and Catalyst incurred a loss from discontinued operations largely due to an increased estimated pension withdrawal liability associated with the Snowflake closure.

Net earnings of $583.2 million for 2012 were heavily impacted by one-time non-cash restructuring credits and fair value accounting adjustments. This compared with a $974.0 million net loss in 2011 which was driven largely by asset impairment charges.

Catalyst entered creditor protection on January 31, 2012, and exited on September 13, having achieved a US$390.4 million or 60 per cent reduction in its debt, savings in annual interest expense of US$33.9 million, and a range of other cost reductions. The restructuring included the permanent closure of its Snowflake mill at the end of the third quarter. Results from this discontinued operation are excluded from those being reported, with comparative periods having been restated accordingly.

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03.06.2013

Cascades receives LEED Gold certification for the expansion of its Lachute plant

Cascades is pleased to announce that the expansion of its Tissue Group plant in Lachute, Québec, has received the coveted LEED® Gold certification. The plant is the first paper manufacturing facility to obtain LEED®-NC (New Construction) certification in the Canadian paper industry.

The Environmental Performance Rewarded

The 6 800 m2 expansion project of the Lachute plant received the Gold level of LEED® certification thanks to Cascades' continuous efforts to reduce its ecological footprint. This concern demonstrates the company's will to remain at the forefront of environmental protection, which concerns not only its production activities but also the continuous improvement of its buildings.

This project was recognized for its exemplary performance regarding:

The reduction of its drinking water consumption, evaluated at 46.57%

The use of regional materials, with 47.08% of costs used for the purchase of materials produced and extracted locally

The presence of certified wood, accounting for 96.36% of total cost for materials

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03.06.2013

Brent Crude Trades Near Four-Day High on Pipeline Halt

Brent crude was little changed near its highest in four days as a North Sea pipeline system remained shut. Venezuela, OPEC’s fourth-biggest producer, announced the death of President Hugo Chavez.

Futures fluctuated, having climbed by the most in a month yesterday. Venezuelan Vice President Nicolas Maduro said on state television that Chavez died at 4:25 p.m. at a military hospital in Caracas. The Brent pipeline system has been shut since an oil leak was discovered March 2 on the Cormorant Alpha platform. U.S. crude stockpiles rose 5.6 million barrels last week, data from the American Petroleum Institute showed.

“There’s still positive sentiment, risk appetite is still high,” said Filip Petersson, a commodities strategist at Stockholm-based bank SEB AB, who estimates that a fair value for Brent would be $105 a barrel. “There’s plenty of crude out there at the moment.”

Brent for April settlement was at $111.21 a barrel, down 40 cents, on the London-based ICE Futures Europe exchange at 11:08 a.m. in London after advancing as high as $112.23.

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03.06.2013

Staples, Inc. Announces Fourth Quarter and Full Year 2012 Performance

Staples, Inc. announced today the results for its fourth quarter and fiscal year ended February 2, 2013.

Total company sales for the fourth quarter of 2012 were $6.6 billion, an increase of three percent compared to the fourth quarter of 2011. Excluding $461 million of sales for the 53rd week in fiscal year 2012, total company sales decreased four percent compared to the fourth quarter of 2011.

On a GAAP basis, the company reported fourth quarter 2012 net income of $90 million, or $0.14 per share, from continuing operations attributable to Staples, Inc., compared to net income of $284 million, or $0.41 per diluted share, achieved in the fourth quarter of 2011. Excluding the impact of charges taken during the fourth quarter of 2012, the company reported non-GAAP net income from continuing operations attributable to Staples, Inc. of $308 million, or $0.46 per diluted share, compared to $284 million, or $0.41 per diluted share, achieved in the fourth quarter of 2011. Fourth quarter 2012 results on a GAAP basis include $181 million of pre-tax charges related to European store closures and restructuring, U.S. store closures and accelerated Australia tradename amortization, a $57 million pre-tax charge related to the early extinguishment of debt, as well as a $26 million pre-tax charge related to the termination of the company's existing joint venture agreement in India. The company's fourth quarter 2012 results on a GAAP basis also include pre-tax income of $83 million related to the extra week in 2012.

For the full year 2012, total company sales decreased one percent to $24.4 billion compared to full year 2011. Excluding the favorable impact of the extra week in 2012, total company sales decreased three percent to $23.9 billion versus the prior year.

On a GAAP basis, the company reported a net loss from continuing operations attributable to Staples, Inc. of $161 million, or $0.24 per share, compared to net income of $988 million, or $1.40 per diluted share, achieved in 2011. Excluding the impact of the charges taken during the fourth quarter of 2012 described above, as well as previously announced charges recorded during 2012 and a tax refund in 2011, the company reported non-GAAP net income from continuing operations attributable to Staples, Inc. of $936 million, or $1.39 per diluted share, during 2012, compared to $967 million, or $1.37 per diluted share, achieved during the prior year.

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03.06.2013

Kohl's Department Stores Opens Nine New Stores

Kohl’s Department Stores announces the grand openings of nine new stores today, creating approximately 950 jobs nationwide and bringing the company’s store count to 1,155 stores across 49 states. Locations opening today include Decatur, Ala., Danville, Ill., Ames, Iowa, Cedar Rapids, Iowa, Minot, N.D., Sherwood, Ore., Hermitage, Pa., Spring Township, Pa. and Denton, Texas.

“As Kohl’s continues to grow, investing in our stores remains a priority,” said Kevin Mansell, Kohl’s chairman, president and chief executive officer. “We are pleased to open nine new locations today and have plans to remodel 30 locations this year. Our stores provide an inspiring destination for customers and reinforce our commitment to delivering an exciting shopping experience through quality brands, exceptional value and convenience.”

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03.06.2013

Clearwater Paper to Close Thomaston, Ga., Tissue Converting Facility

Following a comprehensive analysis, Clearwater Paper Corporation today announced the planned permanent closure of its Thomaston, Ga., tissue converting and distribution facility. The gradual shutdown of converting equipment will occur on a schedule throughout the year, with some operations running into the first quarter of 2014, affecting a total of 150 employees.

"This has been a difficult decision—one where the company reviewed many scenarios and alternatives to closing the plant," said Tom Colgrove, president of Clearwater Paper's consumer products division. "We have concluded that consolidating regional converting and permanently closing Thomaston was the solution to best serve the needs of our southeastern customers and improve the overall logistics of our national manufacturing network."

Displaced Thomaston employees will be given an opportunity to apply for open positions at other Clearwater Paper facilities. In addition, the company is offering separation and incentive pay for employees who remain at Thomaston until their established final day of work. Also, the company is working closely with West Central Georgia Private Industries Council and the Economic Development Division at the Southern Crescent Technical College to assist with career transition services where needed. Clearwater Paper will integrate most of the equipment from Thomaston in its facilities at Oklahoma City and Shelby, N.C.

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