Paperclips Blog | Catalyst Results

  • 10.25.2011

    Mohawk Announces Plan to Close Beckett Mill

    In a move designed to realign its manufacturing platform to meet the needs of a changing market, Mohawk Fine Papers has announced today that it seeks to close the Beckett Mill in Hamilton, Ohio at the end of the year. A shutdown would include the mill's three paper machines and would affect 137 union and salaried employees.

    Over the next two months, Mohawk intends to transition manufacturing from Beckett to its paper mills in Cohoes and Waterford, New York, which could result in 40 new production jobs in New York. Mohawk will continue to operate its envelope, converting and warehouse/distribution facilities in Saybrook, Ohio, along with warehouses in California, Washington, New York, and the Netherlands.

    “This was a very difficult decision,” said Thomas D. O’Connor, Jr., Chairman and CEO, Mohawk Fine Papers. “Our employees at Beckett have done everything asked of them and we are grateful for their efforts and contributions. We encourage the Beckett mill employees to apply for production openings in New York and Mohawk will provide relocation assistance to help the transition. Our decision reflects the realities of today's market and our belief that the changes in communications technology and print impacting our business are both fundamental and permanent.”

    “These changes, though painful, will allow us to accelerate our transformation to the new Mohawk, serving customers worldwide with premium papers, digital substrates, photo products, services and education.”

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  • 10.25.2011

    Oil Rises to 12-Week High as Demand Signals Spur Bull Market

    Oil rose a third day to trade at the highest in 12 weeks in New York on signs of improving U.S. demand and speculation European leaders will agree on a fund to contain a debt crisis threatening the region’s economic growth.

    Futures erased this year’s loss after climbing as much as 1.9 percent. Oil has gained more than 20 percent in the past three weeks, putting it in a so-called bull market. Stockpiles at Cushing, Oklahoma, the delivery point for New York crude, fell last week, according to a satellite survey. A report today may show U.S. consumer confidence increased a second month and European leaders will meet tomorrow to decide on a blueprint to tame the region’s debt problems, while Hurricane Rina headed for Mexican oil platforms.

    “There are some empty storage tanks in Cushing,” said Olivier Jakob, managing director of Zug, Switerzland-based consultants Petromatrix GmbH. “So we’re going through this glut, and currently stocks are pretty low.”

    Crude for December delivery gained as much as $1.72 to $92.99 a barrel in electronic trading on the New York Mercantile Exchange. It was at $92.32 at 10:47 a.m. London time. Yesterday, the contract increased 4.4 percent to $91.27, the highest settlement since Aug. 3. Futures have rallied 23 percent since Oct. 4. A 20 percent gain meets the common definition of a bull market.

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  • 10.25.2011

    Newspaper websites unique visitors up 9%

    Unique visitors to U.S. newspaper websites increased 9% in September compared with September 2010, according to an analysis by comScore for the Newspaper Association of America. Additionally, the data indicated that average daily visits to newspaper sites increased 21%, total minutes grew 11% and total pages views were up 10% in the same time frame.

    According to NAA, the findings also showed that in the third quarter, newspaper websites attracted an average monthly audience of 110.4 million unique visitors ages 18 and older. That figure accounts for 64% of all adult Internet users. Additionally, the comScore analysis showed that 74% of households earning more than $100,000 annually visited newspaper websites in that period.

    NAA had previously released figures showing that online advertising on newspaper websites was up 8% in the second quarter of this year compared with the year-earlier period. At the same time, however, overall newspaper advertising decreased for the 20th straight quarter.

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  • 10.25.2011

    Canfor Pulp Products Inc. Announces Third Quarter 2011 Results

    Canfor Pulp Products Inc. today announced its third quarter 2011 results as well as the results of Canfor Pulp Limited Partnership (the Partnership) in which CPPI has a 49.8% ownership.

    CPPI reported net income of $8.3 million or $0.23 per share, representing CPPI’s share of the Partnership’s income less an income tax provision of $3.7 million.

    The Partnership reported sales of $233.9 million and net income of $23.9 million or $0.33 per unit, for the quarter ended September 30, 2011. The Partnership generated EBITDA of $49.6 million in the quarter. In the quarter, the Partnership generated distributable cash of $26.4 million, or $0.37 per unit.

    The Partnership results were impacted by lower market pulp prices and a planned outage at the Northwood Pulp Mill, partially offset by improved paper segment earnings. A record daily production rate was achieved on the paper machine during the quarter.

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  • 10.25.2011

    E-Commerce Shipments to Drive Record FedEx Holiday Volume

    FedEx Corp. expects to move more than 17 million shipments – almost double its daily average volume – through its global networks on December 12, the projected busiest day in company history. The 10 percent year-over-year increase will be driven by FedEx SmartPost, a residential shipping service designed for online and catalog retailers, as well as expected increased volume at FedEx Ground and FedEx Home Delivery.

    Between Thanksgiving and Christmas, FedEx forecasts more than 260 million shipments to move through its worldwide shipping networks. This is a 12 percent increase for the holiday season over last year when 232 million shipments were processed.

    “As e-commerce continues to grow and demand increases with more customers shopping and conducting their business online, FedEx SmartPost is poised to handle the increase in shipments,” said Frederick W. Smith, chairman, president and CEO of FedEx Corp. “More than 290,000 FedEx team members also stand ready to deliver the holidays and enable commerce around the globe.”

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  • 10.25.2011

    The Atlantic Sees 19 Percent Jump in Ad Revenue for Third Quarter

    For the 12th consecutive quarter in a row, The Atlantic is reporting gains in print and online revenue. In third quarter 2011, overall advertising revenue is up 19 percent, with digital ad revenue soaring 41 percent and print up 3 percent over the third quarter of 2010.

    Mobile apps accounted for 2 percent of overall digital ad revenue for The Atlantic in the third quarter, according vice president and publisher Jay Lauf.

    For the year-to-date, digital advertising is up 27 percent and is expected to exceed the 40 percent growth The Atlantic experienced in 2010 by the end of the year.Print revenue is up 6 percent for the first nine months of the year. 

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  • 10.25.2011

    Great Northern Corporation Carries Home Nine Awards at Shopper Marketing Expo

    Great Northern Corporation, a designer and manufacturer of consumer packaging and in-store displays, won nine Design of the Times awards during the Shopper Marketing Expo held Oct. 18-20, at Navy Pier in Chicago.

    The annual competition recognizes the industry's most inspiring and creative in-store activation tactics and campaigns. Gold, silver and bronze awards are distributed throughout eight channels based upon the entry’s ability to command attention, connect with the shopper, convey information and close the sale. A platinum award for Best of the Times honors is given to the top scoring entry of all gold award recipients within each channel.

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  • 10.25.2011

    Heidelberg Publishes Preliminary Figures for the Second Quarter of 2011/12

    Based on preliminary calculations, Heidelberger Druckmaschinen AG (Heidelberg) generated incoming orders of EUR 668 million and sales of EUR 636 million in the second quarter of financial year 2011/12 (July 1 to September 30, 2011). As a result, preliminary incoming orders were slightly higher than in the same quarter of the previous year (EUR 650 million). As expected, preliminary sales were higher than in the previous quarter and match the previous year's level (EUR 633 million). The preliminary operating result (EBIT) excluding special items for the second quarter is slightly positive at EUR 5 million, an improvement on the same quarter of the previous year (EUR -6 million). Preliminary free cash flow is EUR -12 million (previous year: EUR 6 million).
    "Business development in the past quarter was in line with our expectations," said Dirk Kaliebe, CFO at Heidelberg. "We achieved a positive operating result in the second quarter. Thanks to consistent asset management, free cash flow exceeded expectations."

    Heidelberg now anticipates that economic uncertainties will have a dampening effect on investment behavior in the sector during the second half of the financial year. Due to the turbulence on the capital markets and the weaker macro-economic situation, uncertainty about future economic developments increased significantly again compared to the first quarter of 2011/12. According to the VDMA (German Engineering Federation), incoming orders have fallen right across the printing and paper technology sector. In the period June to August 2011, they were ten percent down on the same three months of the previous year. The order situation at Heidelberg continues to vary from region to region and is influenced, on the one hand, by the ongoing economic uncertainties in the U.S., Japan, and the Mediterranean countries and, on the other hand, by positive development in China and South America.

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  • 10.25.2011

    Plum Creek Timber Company, Inc. Reports Results for Third Quarter 2011

    Plum Creek Timber Company, Inc. today announced third quarter earnings of $50 million, or $0.31 per diluted share, on revenues of $293 million. Earnings for the third quarter of 2010 were $32 million, or $0.20 per diluted share, on revenues of $259 million.

    Earnings for the first nine months of 2011 were $132 million, or $0.81 per diluted share, on revenues of $852 million. Earnings for the first nine months of 2010 were $154 million, or $0.94 per diluted share, on revenues of $834 million. Results for the first nine months of 2010 include an $11 million ($0.07 per diluted share) after-tax gain on the first-quarter sale of certain natural gas assets. As a result, income from continuing operations for the first nine months was $143 million, or $0.88 per diluted share.

    Cash provided by operating activities during the first nine months of 2011 totaled $294 million. The company ended the third quarter with $291 million in cash and cash equivalents.

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  • 10.25.2011

    PIA voices concern over new US Postal Service online Direct Mail Hub

    In a letter to US Post Master General Patrick Donohue, PIA President and CEO Michael Makin noted he has been receiving complaints from members about the USPS Direct Mail Hub pilot program.

    "After viewing the uspsdmhub.com website, I have to concur - it encourages potential mailers to use Directmail2go.com, an online printer/mailer in Pompano Beach, Fl., or DirectMailQuotes.com, a bid site that distributes print/mail specifications to selected printers," the letter continued. "Also, in the main website, the database that appears when one clicks 'find a local printer' is very narrow."

    In an interview with PrintWeek, Makin said, "We're not in a position to speculate on what the rationale is behind this at USPS. But we just feel that as an organization that is essentially a monopoly, it should not be directing business to a select vendor list."

    Given that half of what is produced by the US printing industry goes through the postal service, Makin stressed the PIA wants the USPS to succeed in its efforts to cut waste and emerge as an effective and efficient service. 

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  • 10.25.2011

    HarperCollins Buys Newmarket Press

    HarperCollins has acquired the rights to the majority of the titles published by Newmarket Press, the independent New York City publisher started in 1981 by Esther Margolis. Newmarket’s well-known film and entertainment titles will continue to be released under the Newmarket name which has become and part of HC’s It Books imprint, and Margolis is joining It has an executive editor.
     
    Newmarket has published more than 200 books in the areas of film, theater, and performing arts, including official tie-in books for films that have garnered more than 300 Oscar nominations and nearly 100 wins. Among the films that Newmarket has published illustrated books are Milk; The Matrix; Gladiator; Moulin Rouge; Crouching Tiger, Hidden Dragon; Chicago; Sense and Sensibility; Saving Private Ryan; and Dances with Wolves. The company has also released more than 100 titles in the fields of parenting, psychology, health, biography, history, business, and fiction. It’s best performing books include the What’s Happening to My body series that has sold more than 2 million copies and the recent bestseller,  Daphne Oz’s The Dorm Room Diet. All non-film-and-entertainment-related Newmarket Press titles acquired by Harper will be published as trade paperbacks under the William Morrow Trade Paperbacks imprint.
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  • 10.25.2011

    SCA Interim Report for Q3-2011

    Net sales for the first nine months of 2011 rose 6%, excluding exchange rate effects and divestments, as a result of higher prices and volumes. Growth in the hygiene operations remained favourable in emerging markets, where the Tissue and Personal Care business areas reported sales increases of 10% and 12%, respectively. SCA's global brands – TENA for incontinence care products and Tork for tissue in the away-from-home (AFH) market – have also grown their market shares during the year.

    Operating profit for the first nine months of 2011 decreased by 1%, excluding restructuring costs and exchange rate effects, compared with the same period a year ago. Higher prices and volumes along with cost savings, compensated for most of the slightly more than SEK 3bn in higher raw materials costs, and higher costs for energy and distribution. The strengthening of the Swedish krona lowered operating profit by SEK 700m.

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  • 10.25.2011

    UPS Earnings Per Share Rise 14 Percent on 8 Percent Revenue Growth in 3Q

    UPS today announced diluted earnings per share of $1.06 for the third quarter of 2011, a 14% improvement over the adjusted $0.93 for the prior-year period. Total revenue increased 8% to $13.2 billion.

    The results were driven by the U.S. Domestic and Supply Chain & Freight segments. U.S. Domestic operating margin improved to 13.1% compared to last year's adjusted results and Supply Chain and Freight operating profit increased more than 10%. Free cash flow for the first nine months of the year was strong, exceeding $3.7 billion.

    On a reported basis, diluted earnings per share increased 7.1% over the same quarter last year. In the prior-year period, the company recorded an after-tax benefit of $61 million from the sale of real estate.

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  • 10.25.2011

    Wausau Paper Announces Third-Quarter Financial Results and Strategic Initiatives

    The Company reported third-quarter net earnings of $5.2 million, or $0.10 per diluted share, compared with net earnings of $13.2 million, or $0.27 per diluted share in the prior year. Net sales decreased 3 percent to $266 million, as shipments decreased 5 percent to 160,000 tons, due primarily to planned volume reductions in the Paper segment's print & color market category.

    Third-quarter results included after-tax capital-related expenses of $0.4 million, or $0.01 per diluted share, associated with the Tissue segment's expansion project in Harrodsburg, Kentucky, and after-tax timberland sales gains of $0.1 million, or less than $0.01 per diluted share. Prior-year results included after-tax gains of $2.6 million, or $0.05 per diluted share, from the sale of timberlands; and after-tax gains of $0.8 million, or $0.02 per diluted share, as a result of Internal Revenue Service guidance regarding calculation of a 2009 alternative fuel mixtures tax credit. Excluding these items, adjusted third-quarter net earnings were $5.5 million, or $0.11 per diluted share, compared with adjusted net earnings of $9.8 million, or $0.20 per diluted share, last year. Adjusted net earnings for the first nine months of 2011 were $10.6 million, or $0.21 per diluted share, compared with prior-year earnings of $17.2 million, or $0.35 per diluted share. Although this comparison is a non-GAAP measure, the Company believes that the presentation of adjusted net earnings provides a useful analysis of ongoing operating trends.

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  • 10.25.2011

    West Fraser Announces Third Quarter Results

    West Fraser Timber Co. Ltd. today reported earnings for the third quarter of 2011 from continuing operations of $6 million or basic earnings per share of $0.14 on sales of $705 million. In the quarter the Company completed the sale of its Eurocan deep-sea wharf which contributed to earnings after discontinued operations of $37 million or $0.87 per share. After adjusting for certain non-operational items, adjusted earnings from continuing operations were $3 million or $0.06 per share. For the first nine months of 2011, similarly adjusted earnings from continuing operations were $37 million or $0.87 per share on sales of $2.1 billion.

    Our pulp and paper operations generated operating earnings of $20 million and EBITDA of $36 million in the quarter. The decline in earnings from the previous quarter was due to lower NBSK prices and rising chemical, maintenance and electricity costs, offset in-part by increased revenue from our power purchase agreement. Pulp production was similar to the previous quarter as a planned shutdown at our Quesnel pulp mill and power-related production curtailments in some of our Alberta mills offset the previous quarter’s production loss at the Slave Lake pulp mill related to the Slave Lake forest fire and at the Cariboo pulp mill for the planned maintenance shutdown.

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  • 10.25.2011

    Xerox Reports Third-Quarter 2011 Earnings

    Xerox Corporation announced today third-quarter 2011 results that include adjusted earnings per share of 26 cents, up 18 percent from third-quarter 2010. Adjusted EPS excludes 4 cents related to the amortization of intangibles, resulting in GAAP EPS of 22 cents.
     
    Third-quarter revenue of $5.6 billion was up 3 percent or 1 percent in constant currency. Revenue from technology, representing the sale of document systems, supplies, technical service and financing of products, was up 1 percent or down 1 percent in constant currency. “Supply constraints due to the natural disaster in Japan have eased considerably,” noted Burns. “As we continue to meet new demand, all while reducing our backlog, we’re confident these challenges are entirely behind us.”

    Revenue from services was up 6 percent or 5 percent in constant currency, reflecting growth in business process and document outsourcing, while revenue from IT outsourcing was flat. Signings for Xerox’s services were very strong, totaling $3.9 billion in the third quarter – an increase of 33 percent from third quarter 2010, and down 9 percent on a trailing 12-month basis due to the cyclicality of large deals.

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  • 10.25.2011

    Cascades Sonoco and Sonoco CorrFlex Facilities Recognized with Sonoco Sustainability Star Award

    Sonoco, one of the largest diversified global packaging companies and packaging recyclers in North America, today announced that its Birmingham, Ala., Cascades Sonoco and York, Pa., Sonoco CorrFlex facilities have achieved landfill-free status and have been awarded a Gold Tier Sonoco Sustainability Star Award. Working with Sonoco Recycling, the Birmingham Cascades Sonoco facility became landfill-free in June of 2011, and the York CorrFlex facility went landfill-free in October.

    To achieve its Sonoco Sustainability Star Gold Tier landfill-free status, Sonoco requires 99 percent of all waste to be diverted from landfills. Sonoco CorrFlex and Cascades Sonoco met this requirement by taking their facilities completely landfill-free.

    The Cascades Sonoco plant is currently diverting all of its waste through a combination of recycling, the use of waste-to-energy alternatives and composting.

    The York CorrFlex facility achieved landfill-free status through a combination of waste-to-energy (WTE) landfill diversion and a comprehensive recycling program.

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  • 10.24.2011

    Vistaprint Agrees to Acquire Leading European Photo Book Provider Albumprinter

    Vistaprint N.V., a leading online provider of professional marketing products and services to micro businesses and the home, today announced it has entered into a definitive agreement to acquire Albumprinter, a privately held Dutch photo book and photo product company, for EURO60 million payable at closing and up to an additional EURO5 million based on a performance based earn-out. This acquisition is in line with Vistaprint's recently announced strategy to be more proactive in its evaluation of acquisition opportunities in adjacent markets.

    Albumprinter, based in Amsterdam, with a manufacturing presence in the Hague, is one of the top providers of photo books in the estimated EURO400 million European online photo book market. With approximately EURO37 million in revenue in the trailing twelve months ended September 30, 2011, the company employs about 150 full-time employees, and has a primary market presence in the Netherlands, Belgium, the United Kingdom, Germany, France, Sweden and Norway. Through its award-winning proprietary front-end technology, automated manufacturing processes, customer service and marketing focus, the company processes thousands of orders per day through both a direct-to-consumer model via its brands Albelli, Bonusprint, and Önskefoto, and an indirect model, for which it has partnered with leading retail stores throughout Europe.

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  • 10.24.2011

    Ahlstrom interim report January-September 2011: Decline in demand impacted performance

    Continuing operations July-September 2011 compared with July-September 2010: Net sales EUR 389.7 million (EUR 413.0 million). Operating loss EUR 17.3 million (EUR 14.1 million profit) and operating profit excluding non-recurring items EUR 8.0 million (EUR 13.8 million). Operating margin excluding non-recurring items 2.0% (3.3%). Loss before taxes EUR 24.4 million (EUR 5.7 million profit). 
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  • 10.24.2011

    Crude Oil Advances a Second Day on Japanese Exports, European Debt Meeting

    Oil gained for a second day in New York as European leaders made progress with their debt rescue fund, while economic data from Asia signaled that growth is holding up in the region’s two biggest crude consumers.

    Futures climbed as much as 1.4 percent after reports showed Japanese exports rose more than forecast last month and Chinese manufacturing may expand at the fastest pace in five months in October. Europe may agree on a blueprint to rein in the debt crisis at an Oct. 26 summit after leaders yesterday said they’ll aid banks.

    “The narrative is that weak demand in developed economies is more than offset by burgeoning demand in developing ones,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London, who last month correctly predicted Brent prices wouldn’t remain below $100 a barrel. “Chinese demand growth is likely to prevent prices from falling through the floor.”

    Oil for December delivery was at $87.86 a barrel, up 46 cents on the New York Mercantile Exchange at 11:38 a.m. London time. Prices are down 3.9 percent this year.

    Brent crude for December settlement advanced 76 cents, or 0.7 percent, to $110.32 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract traded $22.46 higher than New York futures, compared with a record settlement of $27.88 on Oct. 14.

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  • 10.24.2011

    RDA Puts Allrecipes on the Block

    In another step for its “master brand strategy”, the Reader’s Digest Association is exploring a possible sale of its Allrecipes property. The 14-year-old food site sees 24 million uniques monthly, and already has 9 million downloads of its app offerings. RDA bought the brand in 2006 for an estimated $66 million, under former RDA president/CEO Eric Schrier’s tutelage.

    According to a company press release, “RDA stated that there can be no assurance that this strategic review process will result in a sale. Morgan Stanley and Evercore Partners are acting as financial advisors to assist the Company with the strategic review process.”

    This potential sale follows closely in the tracks of RDA’s announcement that it was fielding offers for struggling Every Day With Rachael Ray; on the same day, Meredith Corp. made its own announcement it agreed in principle to buy the print and digital assets of the magazine from RDA.

    However, RDA president, North America Dan Lagani told FOLIO: at the time, “We've had very good conversations with Meredith. It's a little premature; we're not across the finish line, but I would say conversations have been positive."

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  • 10.24.2011

    Kimberly-Clark Announces Third Quarter 2011 Results

    Total company sales of $5.4 billion increased 8 percent compared with the third quarter of 2010. Organic sales rose 4 percent, driven by higher net selling prices of 3 percent and slightly improved product mix and sales volumes. Volumes benefited from product innovations and targeted growth initiatives, but were negatively impacted by softer-than-expected demand in portions of North America and Europe. Changes in foreign currency exchange rates increased sales by 4 percent.

    Operating profit was $662 million in the third quarter of 2011, down 5 percent from $698 million in 2010. Adjusted operating profit was $757 million in the third quarter of 2011. Adjusted results in the third quarter of 2011 exclude $95 million of costs for the pulp and tissue restructuring. Results benefited from sales growth and $90 million in cost savings from the company's FORCE (Focused On Reducing Costs Everywhere) program. Meanwhile, inflation in key cost inputs amounted to approximately $150 million overall versus 2010, including $110 million for raw materials other than fiber, primarily polymer resin and other oil-based materials, $20 million for energy, $15 million in distribution costs and $5 million in fiber costs. Lower production volumes in 2011 to manage inventory levels adversely affected operating profit comparisons by $30 million. Marketing, research and general expenses in the third quarter of 2011 increased somewhat compared to 2010, but fell as a percent of net sales, reflecting the company's focus on reducing overhead spending, along with significant year-ago marketing spending.

    Other (income) and expense, net was $17 million of income in the third quarter of 2011, driven by the sale of a small, non-core business in Latin America and foreign currency transaction gains. Prior year other (income) and expense, net was $7 million of expense.

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  • 10.24.2011

    McClatchy Reports Third Quarter 2011 Earnings

    The McClatchy Company today reported net income in the third quarter of 2011 of $9.4 million, or 11 cents per share.  The company's earnings in the third quarter of 2010 were $11.9 million, or 14 cents per share.

    Revenues in the third quarter of 2011 were $300.2 million, down 8.4% from revenues of $327.7 million in the third quarter of 2010. Advertising revenues were down 10.0% from 2010 and circulation revenues were down 3.5%.

    Cash operating expenses in the third quarter, excluding restructuring costs, declined 7.9% from the 2010 third quarter. Operating cash flow, a non-GAAP measure, was $76.9 million, down 9.9% from the third quarter of 2010.

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  • 10.21.2011

    Oil Advances Amid Speculation European Rescue Fund May Ease Debt Crisis

    Oil advanced in New York as European leaders prepared for talks on how to bolster a rescue fund that will ease the debt crisis threatening the region’s economy.

    Futures climbed as much as 1.3 percent, paring a weekly loss. Europe may deploy as much as 940 billion euros ($1.3 trillion) to fight the debt crisis, two people familiar with discussions said. U.S. crude inventories dropped to a 20 month- low this week, tumbling to the five-year seasonal average for the first time since July 2010.

    “The fundamentals are far tighter than they were in 2008,” said Amrita Sen, an oil analyst at Barclays Plc in London. “The current geopolitical context creates significant tail risks in a world with such limited spare capacity.”

    Crude for December delivery gained as much as $1.08 to $87.15 a barrel in electronic trading on the New York Mercantile Exchange and was at $86.86 at 12:36 p.m. in London. The contract yesterday fell 0.3 percent to the lowest close since Oct. 13. Front-month futures are down 0.6 percent this week and 5.7 percent lower this year.

    Brent oil for December settlement traded at $109.80 a barrel, up 4 cents on the London-based ICE Futures Europe exchange. The North Sea crude’s premium to the U.S. benchmark narrowed amid speculation that Muammar Qaddafi’s death will increase Libyan output. The European benchmark contract was $23 more than New York futures, compared with yesterday’s close of $23.69 and a record of $27.88 on Oct. 14.

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  • 10.21.2011

    Stora Enso Interim Review January-September 2011

    EUR 204 million quarterly operating profit excluding NRI and fair valuations, EUR 51 million lower year-on-year due to cost inflation and unfavourable exchange rates, partially offset by clearly higher sales prices.
    Profit before tax negatively impacted by EUR 128 million NRI related to NewPage.
    Strong quarterly cash flow after capital expenditure at EUR 282 million due to working capital management, liquidity improved at EUR 1 181 million.
    Production curtailments to control inventory levels increased in Q3 and will continue in Q4.
    Q4 operating profit excluding NRI and fair valuations forecast to be somewhat lower year on year.
    Completed Inpac acquisition, Montes del Plata project and containerboard investment in Poland progressing as planned.
    Strong financial and cash position gives a solid platform to pursue selected growth.
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  • 10.21.2011

    Stora Enso CEO Jouko Karvinen comments on third quarter 2011 results announced today

    We finished the third quarter as planned. The business areas performed as expected, but associated companies underperformed, essentially due to currency impact.

    “In July we forecast rapidly increasing economic uncertainty and the need to plan for alternative demand scenarios going forward. We described the early signs of weakening demand and sales channel inventory reductions in Fine Paper and Wood Products. Whereas we see for example in coated fine paper stabilisation after inventory corrections, it is clear that going into the fourth quarter our customers, as well as ourselves, will reduce inventories and therefore we will further step up the manufacturing curtailments which we already increased significantly in the third quarter. If temporary lay-offs are planned, they will be subject to co-determination negotiations.

    “As before, in a rapidly changing business environment our priorities are clear: cash preservation, defending our margins through active capacity management, minimising the number of underutilised assets by product swaps and continued cost-efficiency actions. The good news is that we are now in a stronger position than a few years ago due to lower fixed costs. We have enhanced flexibility through outsourcing and other means of decreasing the negative earnings impact of reduced demand. This path of improvements in costs and productivity, but also flexibility is one we will continue to follow.

    “Looking further ahead, our current strategic projects - the Montes del Plata pulp mill in Uruguay, the Ostroleka containerboard machine in Poland and the cross-laminated timber investment in Austria - are proceeding according to plan. Inpac acquisition was completed in the third quarter. Our strong balance sheet and cash position gives us a solid platform to pursue our future in our selected growth areas.”

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  • 10.21.2011

    Final Sept US printing & writing paper stats (AF&PA, UBS)

    Final US printing/writing stats were released after the close. The data was incrementally weaker than recent months, but does not reflect a collapse. Shipments fell 8.1% y/y (-5.7% ytd); the Sept comp was the easiest this year. Imports rose sharply sequentially (11%) but fell 9% y/y. Inventories fell about 2% sequentially and the shipment/inventory ratio was fairly stable, at a healthy level.

    Uncoated free sheet shipments fell 4.7% y/y (-3.0% ytd); posting the weakest trend since Feb. Imports rose 25% m/m (+8% y/y). Inventories rose 4kt (normal -3kt). The shipment/inventory ratio fell sharply m/m, but was still slightly better than the 12-mo rolling avg. Data raises some flags, but market balance is still manageable.

    Coated free shipments fell 4% y/y (-5.1% ytd) but represented the highest level since Sept-10. Inventories fell 17kt, less than normal. But this brings inventories to lowest level since Nov-10. Imports were below recent trend. Coated groundwood shipments fell 12.7% y/y (-8.1% ytd). Imports rose 25% m/m but fell y/y. Inventories fell 10.7% (in line with normal) but remain high. Uncoated groundwood shipments fell 20.1% y/y (-11.8% ytd). Shipments were lowest level since Dec-09. While higher than recent trend, net imports fell 7% y/y.

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  • 10.21.2011

    Creation of Meredith-Iris Global Network Offers Expanded Services for International Clients

    Meredith Corporation today announced a strategic investment in London-based iris Worldwide, one of the world's most successful international marketing agencies. The new relationship with iris enables Meredith to offer global marketing solutions to new and existing clients.

    Meredith today also unveiled Meredith Xcelerated Marketing (MXM) - a new brand identity for Meredith Integrated Marketing. The updated market positioning reflects MXM's ability to create content-fueled, high-velocity marketing programs using a data-driven strategic process that significantly builds customer value and loyalty across multiple channels.

    "In today's rapidly evolving marketplace, Brand and Customer Relationship Management (CRM) leaders are constantly searching for partners who can create and deliver innovative marketing solutions across a wide spectrum," says Martin Reidy, President of Meredith Xcelerated Marketing. "Increasingly, they are looking for companies with a global reach, too. MXM possesses the optimal mix of services and innovation to benefit clients on a global scale thanks to our investment in iris, and our new branding reflects the capabilities we've developed over the last five years."

    The investment in iris Worldwide gives MXM a global platform to serve its many blue-chip clients, and further enhances its ability to provide customized marketing solutions across multiple channels and markets. In addition to its strengths in advertising, digital, print, public relations and CRM, iris Worldwide brings expertise in retail/shopper and experiential marketing to MXM's growing mix of expertise.

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  • 10.21.2011

    Ahlstrom completes the divestment of its Home and Personal business area

    Ahlstrom Corporation, a global high performance materials company, and Suominen Corporation have confirmed the closing of the divestment of Ahlstrom's wipes fabrics, the Home and Personal business area, to Suominen Corporation on October 20, 2011. The business will be transferred on October 31, 2011, except for the Brazilian part of the business, which is estimated to be transferred in the first quarter of 2012.

    The transaction was signed on August 4, 2011, and the total value of the transaction is approximately EUR 170 million. Following the transaction, Ahlstrom becomes the largest shareholder in Suominen with a 27.1% stake. Ahlstrom has committed not to decrease its ownership in Suominen below 20% for a maximum of two years.

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  • 10.21.2011

    YTC Media To Resurrect Folded Penton Mag Paper, Film & Foil Converter

    In August, Penton Media announced it would be shuttering converting and package-printing magazine Paper, Film & Foil Converter [PFFC]. The magazine had an 84- year run: it debuted as The Envelope Industry in 1927 before rebranding as PFFC in 1953.

    With its August issue marked as its last, and its digital properties only supposed to run through September, Penton SVP of strategy & development Warren Bimblick told FOLIO: at the time, “The reality was we tried as hard as we could but if you're trying to grow the company you have to look at marginal products and refine the portfolio. The virtue of Penton is that we are highly diversified but sometimes diversification with small brands that don't have a growth profile is a bad thing.”

    This goodbye has since proven premature, as Chicago-based company YTC Media, Inc. has acquired the PFFC property. Much of PFFC’s original staff remains intact: Yolanda Simonsis will return as editorial director and will act as president; Timothy Janes will serve as vice president of online sales; and Claudia Hine will once again be PFFC’s managing editor.

    According to a PFFC press release, the website will continue to be updated daily. A weekly publication schedule will begin on November 1 with PFFC’s E-Clips e-newsletter, and a bi-monthly product-focused E-Xpress e-newsletter relaunching in 2012.

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  • 10.21.2011

    Portucel Announces Results for Third Quarter 2011

    The Portucel Group recorded consolidated sales in the first nine months of 2011 of € 1 095.9 million, representing growth of 9.2% over the same period in 2010. This growth resulted from positive performance in the Group’s UWF paper business (uncoated woodfree printing and writing paper), in terms of both quantities sold and sales prices, and also from growth in energy sales.

    Output of UWF paper from the new paper mill in Setúbal has continued to rise as anticipated, resulting in an increase in the quantities placed on the market. This growth in sales of UWF paper combined with a recovery in sales prices – the benchmark index for the European market, PIX Copy B, published by Foex, was up by an average of 8.6% on the same period in 2010 – resulted in an increase of approximately 12% in the value of paper sales in relation to the first nine months of 2010.

    With increased integration of bleached eucalyptus kraft pulp (BEKP) into production at the new UWF paper mill in Setúbal, the Group recorded a slight reduction in pulp sales in relation to the first nine months of the previous year. The drop in sales, combined with lower pulp prices during the period, resulted in a reduction of approximately 12% in the value of pulp sales.

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  • 10.21.2011

    The New York Times Company Reports 2011 Third-Quarter Results

    The New York Times Company announced today 2011 third-quarter diluted earnings per share from continuing operations of $.10 compared with a diluted loss per share from continuing operations of $.03 in the same period of 2010. Excluding severance and the special items discussed below, diluted earnings per share from continuing operations were $.05 in the third quarter of 2011 compared with $.07 in the third quarter of 2010.

    The Company had an operating profit of $33.0 million in the third quarter of 2011 compared with an operating profit of $9.0 million in the same period of 2010. Excluding depreciation, amortization, severance and the special items discussed below, operating profit increased 5.5 percent to $65.5 million from $62.0 million in the third quarter of 2010.

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  • 10.21.2011

    KapStone Paper and Packaging Corporation Ranked 10th Best Small Company in America by Forbes

    KapStone Paper and Packaging Corporation announced that they have ranked 10th overall on Forbes's annual list of the 100 Best Small Companies according to the rankings included in the November 5, 2011 issue. Forbes determined the rankings based upon return on equity, growth of earnings and sales, and the relative stock performance of each company as compared with that of its peers over the past 12 months and over 5 years.

    Roger Stone, Chief Executive Officer, commented, "We are very pleased with the recognition from Forbes as the 10th best small company in America, and we will strive to maintain the quality and momentum of our growth with the completion of our latest acquisition of U.S. Corrugated."

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  • 10.21.2011

    Phoenix Group Acquires Certain Assets of All Out, Opens Midwest Facility

    The Phoenix Group announced the opening of a new Midwest facility, based in the Greater Chicago metro area. The newest member of the group (#68 with $55 million in sales on the 2010 Printing Impressions 400 list) will be doing business as Phoenix-Veterans Print.

    In connection with the opening, Phoenix has acquired the operating assets of All Out (Woodridge, IL) and hired several of its top executives to manage the new business. James J. Capuano, a decorated Marine Corps combat disabled veteran, will serve as CEO and president of the new venture. His son, James B. Capuano, will serve as executive vice-president of sales. Phoenix Group Chairman Barry Green will also serve as chairman of Phoenix-Veterans Print.

    Commenting on the acquisition, Green stated, “We are very excited to be expanding our services to the Chicago area in the form of large-format presses with UV printing and UV coating. The addition of the talents of Jim and J.B. positions us to duplicate in the Midwest the success we’ve enjoyed on the East Coast. Combining the operational and sales talents of the Capuanos with the financial resources and wide-ranging capabilities of the Phoenix Group will allow our new operation to continue to exceed customer expectations.”

    The new Chicago operation will boast the availability of two 56" KBA Rapidas presses, including a six-color plus UV machine that is capable of printing on substrates from 50-lb. uncoated to 48-pt. board and plastic. It also has as a KBA Genius 52 UV waterless offset press. 

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  • 10.21.2011

    EFI Reports Q3 2011 Results

    Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced its results for the third quarter of 2011. For the quarter ended September 30, 2011, the Company reported revenue of $147.3 million, up 14% year-over-year compared to third quarter 2010 revenue of $129.0 million.

    For the third quarter of 2011, non-GAAP net income was $11.6 million or $0.25 per diluted share, compared to non-GAAP net income of $10.7 million or $0.23 per diluted share for the same period in 2010.
    For the third quarter of 2011, GAAP net income was $6.1 million or $0.13 per diluted share, compared to GAAP net income of $13.4 million or $0.29 per diluted share for the same period in 2010.
    For the nine months ended September 30, 2011, non-GAAP net income was $36.4 million or $0.76 per diluted share, compared to non-GAAP net income of $14.5 million or $0.31 per diluted share for the same period in 2010.
    For the nine months ended September 30, 2011, GAAP net income was $16.0 million or $0.34 per diluted share, compared to GAAP net loss of $(0.6) million or $(0.01) per diluted share for the same period in 2010.

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  • 10.20.2011

    Södra: Interim report January-September 2011

    Södra's operating profit for the first nine months of the year amounted to SEK 879 million (SEK 1,994 million for the same period last year), which is equivalent to a return of 11 (27) per cent on capital employed. The difference of SEK 1,115 million in operating profit compared with the same period last year is explained by higher timber costs, adverse exchange rate effects, lower delivery volumes and the fire at Södra Cell Mönsterås, combined with a weak market for sawn timber products.

    The pulp market was characterised by prices that remained buoyant, compared with historical levels. Lower prices in dollars over the period was compensated for by a stronger dollar against the krona. The accumulated average price over the first three quarters of the year amounted to USD 983 per tonne for bleached softwood sulphate pulp and USD 853 dollar per tonne for hardwood pulp.

    Producers' stocks of pulp increased over the quarter, with levels of short fibre pulp seeing the biggest increase. European customers' stocks of purchased pulp remained at historically low levels.

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  • 10.20.2011

    Publisher Says Apple's "Newsstand" Increased Digital Magazine Sales 750%

    The Apple Newsstand launched with iOS 5 last week, and it is already having a big effect on publishers.

    Future Publishing, a United Kingdom-based company that sells 3.2 million print magazines a month and specializes in technology and video game magazines, reported a 750% increase in the number of sales, according to The Next Web.

    In fact, the "magazine publisher see its normal monthly sales eclipsed in just four days."

    And that's not a small number.

    Between October 13 and October 17, users downloaded one of Future Publishing's 50 titles more than two million times.

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  • 10.20.2011

    Oil Rebounds on Speculation EU Will Reach Agreement to Help Fight Crisis

    Oil rebounded on speculation that European Union leaders will reach agreement on enhancing their rescue fund and help fight the region’s debt crisis.

    Futures gained as much as 1.2 percent in London and 1 percent in New York after European Commission President Jose Barroso said government leaders may reach a “very positive outcome” at a meeting this weekend in Brussels. Prices fell earlier as divisions emerged between France and Germany on the bail-out strategy. U.S. fuel consumption fell last week, according to data released yesterday by the Energy Department.

    “These are political markets right now,” said Carsten Fritsch, an analyst in Frankfurt at Commerzbank AG. The bank was the fourth most-accurate forecaster of Brent prices in the third quarter. “So oil could be moving on rumors regarding the upcoming EU summit.”

    Brent oil for December settlement rose as much as $1.25 to $109.64 a barrel and was at $109.26 at 11:15 a.m. on the ICE Futures Europe exchange in London. It earlier fell as much as 0.7 percent to $107.65 a barrel.

    On the New York Mercantile Exchange, West Texas Intermediate crude for December delivery, the most-actively traded contract, gained 41 cents to $86.70 a barrel. Yesterday it fell $2.24 to $86.29, the lowest settlement since Oct. 13. November futures, which expire today, were at $86.50.

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  • 10.20.2011

    HP Delivers Improved Productivity, Versatility with New Wide-format Graphics Systems

    HP today unveiled additions to its HP Scitex digital wide-format graphics portfolio, offering print service providers (PSPs) higher productivity, the versatility to handle more applications and the ability to meet the growing demand for short runs more quickly.

    The new offerings include:

    The HP Scitex FB7600 Industrial Press, with new HP FB225 Scitex Inks, workflow improvements for increased productivity and versatility and an optional multisheet loader.
    The 16.6-foot (5-m) HP Scitex XP5500 Industrial Printer with new billboard print modes, industry-leading print speeds(1) and unprecedented ink coverage.
    The 10.5-foot (3.2-m) HP Scitex XP2500 Industrial Printer, which delivers up to 15 percent more throughput than its predecessor.
    Enhanced HP Scitex Print Care offerings for the new printers to help customers maximize uptime and serviceability.(2)
    EskoArtwork i-cut Suite, a print-to-cut workflow solution enhanced for HP Scitex printers, from HP Solutions Business Partner ESKO.

    “As the leader in industrial wide-format graphics, HP is helping customers transition from analog to digital printing and take advantage of higher value pages to further grow their businesses,” said Xavier Garcia, general manager, Scitex Wide-format Solutions, HP. “With today’s introductions, our customers can go after these pages with the confidence that HP digital solutions will deliver the productivity, versatility and reliability they demand.”

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  • 10.20.2011

    Royle Printing Awarded Sustainable Manufacturing Initiative of the Year

    Royle Printing was awarded The Business Sustainability Award for Sustainable Manufacturing Initiative of the Year from InBusiness Magazine. This award recognizes a manufacturer's commitment to creating processes that positively impact the environment. These awards were introduced in 2010 to recognize companies making strides in sustainability that are not only good for the environment, but also wise business decisions.

    This year’s judges were Wyllys Mann, Former Director of the Green Business Development Center at the Delta Institute and Current Project Consultant at Hispanic Housing Development Corporation, and Andrew Pace, Founder/Owner of the Green Design Center in Waukesha. The judges expressed that “Royle Printing has implemented on a comprehensive efficiency program from capital improvements to operations to product line. This kind of approach to sustainability has led to significant savings throughout the organization and been measured properly in order that they can continue to improve. A model of the approach SMEs should be taking to sustainability.”

    For years Royle Printing has made significant investments in technology, process improvements and relationships with our key suppliers; ensuring that we stay focused on our charge to be green. From installing a heat exchanger onto the Regenerative Thermal Oxidizing unit to utilizing agri-based inks which are made from non-toxic soy and vegetable oils, Royle Printing’s sustainable manufacturing efforts make considerable environmental savings.

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  • 10.20.2011

    The McGraw-Hill Companies Reports $1.21 Diluted EPS from Continued Operations in 3Q

    The McGraw-Hill Companies today reported diluted earnings per share of $1.21 from continuing operations in the third quarter of 2011 versus adjusted earnings per share of $1.21 for the same period last year.

    Net income from continuing operations in the third quarter declined 2.1% to $366.7 million, as compared to the prior year's adjusted results primarily due to a decline in the education market and a decrease in global credit markets. Revenue was off 2.5% to $1.9 billion in the third quarter compared to the same period last year.

    Third quarter results in 2011 and 2010 reflect the reclassification of the Broadcasting Group as a discontinued operation. The company announced on October 3 that it had signed a definitive agreement to sell the Broadcasting Group to E.W. Scripps for $212 million in cash. The deal is expected to close in 2012.

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  • 10.20.2011

    FutureMark “Green Clean” Technology Creates Brighter Recycled Paper with Far Fewer Chemicals

    FutureMark® Paper Company, the only North American manufacturer capable of making up to 100-percent recycled coated paper for magazines and catalogs, introduced two new products today made with an innovative “Green Clean” process that delivers  world-class brightness ratings for high-recycled paper while greatly reducing the use of harsh chemicals traditionally used in paper production.

    FutureMark Paper’s innovative Green Clean technology enables embedded inks to be extracted from waste paper more efficiently and effectively.  It is projected to reduce the company’s use of de-inking chemicals, such as caustic soda and peroxide by up to 30 percent.  Additionally, FutureMark Green Clean technology will also enable the company to increase the percentage of post-consumer waste (PCW) used in most of its recycled publication papers.  FutureMark coated publication papers currently average more than 90 percent total recycled content and 30 percent PCW—the highest by far from any major North American producer.

    By combining Green Clean technology with modifications to the company’s manufacturing process and product formulation, FutureMark Paper achieved a remarkable 85 brightness rating for its two new products:  Future Choice®85 Matte publication paper and Future ReMark® 85 label paper.

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  • 10.20.2011

    Coldwater Creek Announces Pricing of Public Offering of Common Stock

    Coldwater Creek Inc. today announced the pricing of its underwritten public offering of 26,500,000 shares of its common stock at a price to the public of $0.85 per share. The offering is expected to close on October 24, 2011 subject to customary closing conditions. The Company also granted the underwriter a 30-day option to purchase up to an additional 3,975,000 shares of common stock. After deducting the underwriting discount and estimated offering expenses payable by the Company, the Company expects to receive net proceeds of approximately $21,061,388 assuming the underwriter does not exercise its option to purchase additional shares of common stock. All of the shares are being offered by the Company.

    The Company intends to use the net proceeds of the offering for working capital and other capital expenditures, which may include investments in its marketing strategy and supply chain, as well as other general corporate purposes.

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  • 10.20.2011

    Temple-Inland Inc. Reports Third Quarter 2011 Results

    Temple-Inland Inc. today reported third quarter 2011 net income of $6 million, or $0.05 per diluted share, compared with second quarter 2011 net income of $19 million, or $0.17 per diluted share, and third quarter 2010 net income of $125 million, or $1.13 per diluted share. Third quarter 2011 net income excluding special items was $21 million, or $0.18 per diluted share.

    Corrugated Packaging segment operating income for third quarter 2011 was $84 million. The pre-tax cost of the previously disclosed operational upset at the Bogalusa paper mill was approximately $20 million in the quarter, $5 million of which is included in special items. Total mill downtime in third quarter 2011 was 58,000 tons, 54,000 tons of which was at the Bogalusa mill. Compared with second quarter 2011, recycled fiber and chemical costs were higher while costs for wood, freight and energy were lower. Box shipments were seasonally lower in the third quarter compared with the second quarter. Compared with third quarter 2010, recycled fiber, freight, chemical and energy costs were higher while the Company benefited from Box Plant Transformation II and lower virgin wood costs.

    Building Products segment operating results improved in third quarter 2011 compared with second quarter 2011 primarily due to higher gypsum and particleboard prices. Operating results improved in third quarter 2011 compared with third quarter 2010 primarily due to higher gypsum and particleboard prices and higher particleboard volumes.

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  • 10.19.2011

    Mill starts producing paper in East Millinocket

    With 215 papermakers on its payroll, the new Great Northern Paper began producing virgin newsprint to fill its first order at 6 a.m. Monday, a company spokesman said.

    Though smoke had begun to pour from the paper mill’s stack on Friday — company workers were testing the mill’s boiler system — and workers filled the woodyard steadily throughout last week, Monday was the revitalized mill’s first real day of full operations, spokesman Scott Tranchemontagne said.

    “It feels wonderful and gratifying,” Tranchemontagne said. “Like I said throughout the whole process, there is a real spirit of teamwork. There were a lot of people involved in making it happen. To have 215 people who really want to work be able to come to work is a great thing.”

    Gov. Paul LePage announced on Sept. 16 that GNP parent company Cate Street Capital of Portsmouth, N.H., had consummated negotiations with former mill parent company Brookfield Asset Management of Toronto and purchased in escrow the East Millinocket and Millinocket paper mills for an undisclosed amount. The final sale occurred later that month.

    The sale ended months of speculation that began when Brookfield closed the mill on April 1 as to whether the Katahdin region would ever again be a home to papermaking. East Millinocket and Millinocket were without active mills — Millinocket’s mill closed in September 2008 — for the first time in a century.

    Now the hardest part of the deal begins — making paper and profit. Tranchemontagne said company officials are confident they will make their first shipment deadline in early November and the mill has orders enough to be fully occupied for a year.

    Less certain is exactly when the Millinocket mill could restart. Company officials have said market conditions would dictate when that mill would again start producing supercalendered paper — probably not for several months.

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  • 10.19.2011

    Postal Service Adjusts Mailing Services Prices for 2012

    Beginning early next year, it will cost just a penny more to mail letters to any location in the United States, the first price change for First-Class Mail stamps (Forever stamps) in more than two and a half years. The new 45-cent price for Forever stamps is among price changes filed with the Postal Regulatory Commission today.

    Highlights of the new single-piece First-Class Mail pricing, effective Jan. 22, 2012, include:

    Letters (1 oz.) – 1-cent increase to 45 cents
    Letters additional ounces – unchanged at 20 cents
    Postcards – 3-cent increase to 32 cents
    Letters to Canada or Mexico (1 oz.) – 5-cent increase to 85 cents.
    Letters to other international destinations – 7-cent increase to $1.05
    Prices also will change for other mailing services, including Standard Mail, Periodicals, Package Services and Extra Services. Today’s announcement does not affect Express Mail and Priority Mail prices. More information on the new pricing is available at
    http://about.usps.com/news/national-releases/2011/pr11_factsht_pricechng_1018.pdf.

    “The overall average price increase is small and is needed to help address our current financial crisis,” said Postmaster General Patrick Donahoe. “We continue to take actions within our control to increase revenue in other ways and to aggressively cut costs. To return to sound financial footing we urgently need enactment of comprehensive, long-term legislation to provide the Postal Service with a more flexible business model.”

    While actual percentage price increases for various products and services varies, the overall average price increase across all mailing services is capped by law at 2.1 percent, the rate of inflation calculated based on the Consumer Price Index.

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  • 10.19.2011

    Berlin Packaging Introduces America's First Molded Fiber Bottle

    Berlin Packaging, a leading full-service supplier of rigid packaging, today announced it will be a primary stocking supplier for the eco.bottle(TM), America's first molded fiber bottle. A product of Ecologic Brands, Inc., the eco.bottle(TM) is a hybrid fiber-plastic product that uses up to 70% less plastic than traditional plastic bottles, with a molded fiber shell that is 100% recyclable and compostable.

    The groundbreaking, patented container is well suited for a wide range of consumer products ranging from pourable goods to beverages, personal care products, and even paints and stains.

    Just as innovative as the eco.bottle(TM) materials are its post-use recycling instructions. Simply split open the side of the fiber shell and the outer package separates. The fiber halves, made from old corrugated cardboard and newspapers, can be recycled up to seven more times; the #4 inner pouch and closure system can be recycled along with plastic grocery bags in retailer drop-off bins.

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  • 10.19.2011

    Postal Service Legislation Clears Another Hurdle

    Legislation that would allow the United States Postal Service to cut a day of service advanced in the House of Representatives last week by a vote of 22-18.

    If enacted, the legislation would not only limit delivery to 5-days a week but would also phase out many special rates and consolidate postal facilities around the nation, among other things.

    The bill, H.R. 2309, is sponsored by Representative Darrel Issa (R-CA) and is co-sponsored by Representative Dennis A. Ross (R-FL). The legislation, which is sponsored in the Senate by John McCain (R-AZ) is expected to see a full vote by the House of Representatives in the next several weeks.

    Before last week the proposal required certain types of mail classes to incur rate increases 5 percent higher than CPI if their cost coverage is less than 90 percent. The Magazine Publishers Association [MPA] strongly disagreed with this provision but applauded the changes to the bill's text established by Rep. Ross.

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  • 10.19.2011

    Crown Holdings Reports Third Quarter 2011 Results

    Crown Holdings, Inc. today announced its financial results for the third quarter ended September 30, 2011.

    Net sales in the third quarter grew to $2,423 million over the $2,205 million in the third quarter of 2010, primarily driven by the pass-through of higher raw material costs and $92 million from foreign currency translation. Approximately 74% of net sales were generated outside the U.S. in the third quarter compared to 72% in the third quarter of 2010.

    Third quarter gross profit improved 5.0% to $396 million over the $377 million in the 2010 third quarter and included $14 million from foreign currency translation.

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  • 10.19.2011

    Oil Trades Near Highest Price in a Month After Goldman Cites ‘Upside Risk’

    Oil traded near the highest price in more than a month after Goldman Sachs Group Inc. predicted “upside” potential, amid signs U.S. crude stockpiles are increasing less rapidly than previously forecast.

    Futures gained as much as 0.6 percent, extending yesterday’s 2.3 percent gain. Energy Department data today may show that supplies climbed 2 million barrels. Yesterday’s report by the industry-funded American Petroleum Institute indicated they dropped for a third week. Goldman Sachs said an improving economic outlook in Europe and declining crude supplies may present “a real upside risk” to Brent prices.

    “The market certainly drew some support from pronounced crude and product draws in the API data, as well as more optimism creeping back in about the euro-zone bailout,” said Andrey Kryuchenkov, an analyst at VTB Capital in London, who predicts prices will end the year little changed from current levels. “Libya will come back on line, but not especially fast, and geopolitical risks surrounding Iran will give support.”

    Crude for November delivery on the New York Mercantile Exchange rose as much as 54 cents to $88.88 a barrel and was at $88.66 at 12:02 p.m. London time. The contract yesterday traded as high as $89.03, the most since Sept. 16. The more-actively traded December contract increased 34 cents to $88.87. Front- month prices are down 3 percent this year.

    Brent oil for December settlement was at $111.02 a barrel, down 13 cents, on the London-based ICE Futures Europe exchange.

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