Paperclips Blog | Clearwater Paper Results

  • 04.24.2013

    Email Pioneer Says the United States Postal Service Must Survive

    One of the people responsible for the proliferation of electronic mail, a man truly hailed as one of the “Fathers of the Internet,” told attendees at Postal Vision 2020 today that he considers the United State's Postal Service's brand of physical delivery as fundamental to a democratic society.
     
    “It's  a national infrastructure like schools, public roads, water supply, electricity, and telecommunications,” said Google VP and Chief Internet Evangelist Vint Cerf, who helped introduce commercial email as a tech strategist at MCI in 1983. “I think it's utterly incumbent on all of us to figure out how to retain this very important infrastructure.”
     
    Cerf's remarks were delivered during the opening session of Postal Vision 2020, a Washington, DC, convocation of postal regulators, policy makers, businesspeople, and academics exploring ways to keep the beleaguered USPS in business for the next decade and beyond. The first panel discussion, which included Cerf and was moderated by Weber Shandwick founder Larry Weber, elicited questions from the floor from current USPS Inspector General David C. Williams and Yale Law School Professor Judith Resnik.
     
    But it was Cerf who drew murmurs of approval from those assembled when he said that the Postal Service's current predicament was the fault of a Congress that had “set them up as a quasi-private sector business and then tied their arms behind their backs.”
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  • 04.24.2013

    Catalyst Paper issues 10th sustainability report

    Catalyst Paper has released its tenth sustainability report as an early adopter of this voluntary disclosure practice  more than a decade ago. Titled “Our Tomorrow Starts Today”, the report covers calendar 2012 and was produced using Global Reporting Initiative Guidelines (B-level application). It also serves as Catalyst’s Communication on Progress as a signatory to the United Nations Global Compact.
     
    “We aim to present a balanced picture of issues that affect our performance and that interest our stakeholders,” said Lyn Brown, vice-president marketing and corporate responsibility. “Paper was the first widely used interactive medium and transparency has been at the core of our operating philosophy since well before the first tweet was sent.”
     
    The report covers a pivotal year for Catalyst, during which a major financial restructuring was completed under creditor protection.
     
    “The fact that we kept up our reporting commitment under these conditions indicates how deeply rooted sustainability is in our way of doing business,” said Brown. “Our report acknowledges the challenges we faced. And it tells the story of the strategy and stakeholder contributions that ‘brought the pieces together’ and got us to a successful outcome,” she said.
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  • 04.24.2013

    WTI Crude Climbs to One-Week High After U.S. Supply Drop

    West Texas Intermediate crude advanced to the highest in more than a week amid speculation that the European Central Bank will cut its key interest rate to a record low next week.

    Futures increased as much as 0.9 percent in New York to the highest intraday price since April 15. Banks including UBS AG and Royal Bank of Scotland Group Plc (RBS) expect a rate reduction for May. U.S. crude stockpiles fell 845,000 barrels last week, the American Petroleum Institute said yesterday. Analysts in a Bloomberg survey before the API report had forecast government data today to show supplies climbed 2 million barrels to the most in 22 years, according to a Bloomberg News survey.

    “Markets seem to think an ECB rate cut will solve Europe’s problems,” Michael Hewson, an analyst at CMC Markets Plc in London, said by e-mail. “Expectations of lower inventories could also be underpinning prices.”

    WTI for June delivery rose as much as 76 cents to $89.94 a barrel in electronic trading on the New York Mercantile Exchange and was at $89.86 at 10:56 a.m. London time.

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  • 04.24.2013

    BASF to strengthen competitiveness of its Performance Products segment

    BASF is taking a number of steps to strengthen the competitiveness of its Performance Products segment. The segment bundles BASF’s businesses with chemicals that improve the properties of many different end-user products. The portfolio includes ingredients for personal care, cosmetics, pharmaceuticals, plastic additives, pigments and paper chemicals as well as chemicals used in oil and gas production and mining. In some market segments, increasing standardization and the entry of new competitors have changed the business environment significantly. This especially applies to the markets for plastic additives and pigments as well as for water, leather and textile chemicals.

    BASF aims to adapt its businesses to the changed market environment and significantly increase competitiveness in the coming years by streamlining processes, investing in new technologies and adjusting its portfolio and its organizational setup. The currently planned measures will lead to a reduction of about 500 positions worldwide by the end of 2015.

    “The expansion of our specialty business in the Performance Products segment made us more robust to economic fluctuations. However, the growth and profitability of the standard products do not yet meet our requirements. We have therefore identified numerous measures which we are implementing step by step. Further measures are being analyzed,” said Michael Heinz, member of the Board of Executive Directors of BASF SE and responsible for the Performance Products segment.

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  • 04.24.2013

    After Launching in Digital, Haute Time Rolls Out Print Mag

    Courting a digital audience before introducing a print product is becoming a much more common practice by content publishers, and a strategy that new enthusiast magazine Haute Time is betting on. The new 50,000-circ, biannual pub launched on Monday and is hoping to tap the power of social, celebrity and digital as a blueprint for success.
     
    In April 2012 Haute Media Group introduced a group of niche sites focused on the luxury consumer demographic as a spin off to its Haute Living magazine; the media network includes sites HauteTime, HauteAuto, HauteResidence, HauteYatchs and HauteFashionDaily.

    With this new print product the company has tapped NBA basketball player and New York Knick Carmelo Anthony as a co-founder—giving the brand unique access to the star’s millions of social followers.
     
    “Unlike most magazines that launch in print first, we launched in a digital format first,” says co-publisher Seth Semilof. “The brand’s first cover mogul and business strategist Tony Robbins linked the magazine to his 3 million followers and Carmelo linked to his 5 million followers. The first day alone we had more readers read the book digitally than we’ll have in print—we’re printing 50,000 copies and we had over 50,000 people read the magazine online on the first day alone.”
     
    Anthony has helped the brand leverage social media—he posts a “Watch of the Day” on Instagram to his more than 1 million followers to build buzz, he tweeted a link to the digital magazine to his more than 3.1 million followers, and shared it with his more than 2.3 million Facebook fans.

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  • 04.24.2013

    RockTenn Reports Second Quarter Fiscal 2013 Results

    RockTenn today reported earnings for the quarter ended March 31, 2013 of $4.45 per diluted share and adjusted earnings of $1.12 per diluted share. Adjusted earnings per share increased 15% over the prior year quarter.

    Net sales of $2,325 million for the second quarter of fiscal 2013 increased $42 million compared to the second quarter of fiscal 2012. Segment income of $174 million increased $10 million or 6% over the prior year quarter adjusted to eliminate $7 million of pre-tax losses in the prior year quarter due to our Matane, Quebec containerboard mill.

    RockTenn’s income tax benefit during the quarter was primarily due to the reversal of previously established tax reserves of $254 million relating to alternative fuel mixture credits acquired in the Smurfit-Stone Acquisition following the Internal Revenue Service's completion of its examination of the Smurfit-Stone 2009 tax return.

    RockTenn’s restructuring and other costs and operating losses and transition costs due to plant closures were $0.14 per diluted share after-tax, for the second quarter of fiscal 2013. These costs consisted primarily of $8 million of pre-tax facility closure charges and $4 million of pre-tax integration costs.

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  • 04.24.2013

    O-I Reports First Quarter 2013 Results

    Owens-Illinois, Inc. today reported financial results for the first quarter ending March 31, 2013.

    Highlights
    • First quarter 2013 earnings from continuing operations attributable to the Company were $0.48 per share (diluted), compared with $0.73 per share in the same period of 2012.  Excluding certain items management considers not representative of ongoing operations, adjusted earnings[1] were $0.60 per share, compared with $0.73 per share in the prior year.
    • Higher operating profits in South America and Asia Pacific were more than offset by lower results in Europe. South America benefited from volume growth and logistics savings from a new furnace brought online in Brazil in late 2012. As expected, European operating profit was adversely impacted by lower demand and efforts to normalize production levels over the course of 2013.
    • Price and product mix increased 2 percent year on year, with gains reported in all regions. Price increases covered cost inflation.

    Net sales in the first quarter of 2013 were $1.64 billion, down from $1.74 billion in the prior year first quarter. Currency translation adversely impacted sales by 2 percent. Volume, in terms of tonnes shipped, decreased by 5 percent year-over-year. The decline in volume was most pronounced in Europe, due to difficult macroeconomic conditions, the absence of major sporting events that occurred in the prior year and the share shift to smaller competitors in response to the Company's pricing strategy in 2012. South America reported modest volume growth, driven by food packaging. Sales prices globally were up 2 percent, with successful price initiatives reported in all regions.

    In the first quarter of 2013, segment operating profit was $226 million, down from $260 million in the prior year. The Company curtailed production, particularly in Europe, as part of an initiative to reduce production volatility over the course of the year. This led to lower absorption of fixed costs, and therefore lower profitability, relative to the comparable period in the prior year. The Company expects improved profitability from this initiative in the latter half of the year. Structural cost reductions partially compensated for the adverse impact of lower production and sales volume.

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  • 04.24.2013

    NewPage Celebrates Twenty-Five Years Of UniTherm® Thermal Transfer Label Paper Technology

    NewPage Corporation (NewPage) announced today the twenty-fifth anniversary of  UniTherm®, a family of pressure sensitive thermal transfer label papers designed and manufactured by its specialty papers product area. UniTherm is used in logistics and inventory control systems worldwide, supporting rapid capture and transmittal of thermal transfer-printed variable information and barcode data that is an essential component of modern track-and-trace shipment and just-in-time inventory systems.

    UniTherm was developed in 1988 as a solution for item-level barcode labeling offered by new computerized shipping and inventory management systems. "Barcode labels revolutionized the movement and tracking of products in virtually all industries," said Ed Buehler, vice president, specialty papers for NewPage. "UniTherm has been instrumental in enhancing the velocity and accuracy of supply chain logistics."

    Over the last 25 years, UniTherm has evolved, keeping pace with advancements in printer and printer ribbon technologies and the rapid growth of integrated global logistics systems.  "UniTherm created a new generation of label papers designed for reliable performance over time in harsh environments," said Buehler. "This innovation tradition continues today as UniTherm remains the industry standard for thermal transfer papers."

    The UniTherm family includes basis weight offerings from 40 lb. (65gsm) to 50 lb. (81gsm) – each optimized for pressure sensitive thermal transfer printing.

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  • 04.24.2013

    Gannett Co., Inc. Reports 57% Increase in First Quarter Earnings per Diluted Share


    Highlights for the quarter include the following year-over-year comparisons:

    Local domestic circulation revenue up 14 percent; fourth consecutive quarter of growth
    Broadcasting revenue accelerates 9 percent
    Company-wide digital revenue growth of 29 percent
    35 percent increase in Digital segment operating cash flow; 14 percent increase in Broadcasting operating cash flow 

    Total revenues for the company were 1.6 percent higher in the first quarter compared to the first quarter in 2012 and totaled $1.24 billion reflecting revenue increases of 8.7 percent and 3.9 percent in the Broadcasting and Digital segments, respectively. Publishing segment revenues were relatively unchanged as the positive results of the all access content subscription model and digital marketing services were offset by softer advertising demand.

    Net income attributable to Gannett in the first quarter of 2013 totaled $104.6 million. Net income attributable to Gannett on a non-GAAP basis (which excludes the special items) was $86.0 million, an increase of 6.5 percent.

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  • 04.24.2013

    Discover Financial Services Reports First Quarter Net Income of $673 Million

    Discover Financial Services today reported net income of $673 million or $1.33 per diluted share for the first quarter of 2013, as compared to $650 million or $1.21 per diluted share for the first quarter of 2012. The company’s return on equity was 27%.

    The results for the quarter ending March 31, 2013 are compared with the results for the quarter ending March 31, 2012, which are presented on a calendar basis due to a change in the company's fiscal year end from November 30 to December 31.
     
    First Quarter Highlights
    Revenue net of interest expense was up $189 million, or 10%, from the prior year to $2.0 billion.
    Total loans grew $3.7 billion, or 7%, from the prior year to $60.4 billion.
    Credit card loans grew $2.4 billion, or 5%, to $48.7 billion and Discover card sales volume increased 4% from the prior year.
    Credit card loan delinquencies over 30 days past due reached a record low of 1.77%. Credit card net charge-off rate increased 5 basis points sequentially to 2.36%.
    Payment Services pretax income was down $1 million, or 2%, from the prior year to $47 million. Transaction dollar volume for the segment was $48.8 billion in the quarter, an increase of 2% from the prior year.

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  • 04.23.2013

    Xerox Reports First-Quarter 2013 Earnings

    Xerox announced today first-quarter 2013 adjusted earnings per share of 27 cents, which includes a 2-cent benefit from a reserve reduction related to recent litigation developments. Adjusted EPS excludes 4 cents related to amortization of intangibles, resulting in GAAP EPS of 23 cents.

    In the first quarter, total revenue of $5.4 billion was down 3 percent. Revenue from the company’s services business was up 4 percent and represents 55 percent of total revenue.

    “We delivered solid revenue growth in our services business along with a stable segment margin and a 64 percent increase in the total contract value of signings to $3.7 billion,” said Ursula Burns, Xerox chairman and chief executive officer.

    “While results in our services business align with our growth strategy and our expectations, challenges in our document technology business continued during the first quarter,” she added. Revenue from the company’s document technology business, representing 40 percent of total revenue, was down 9 percent, which had an adverse impact on segment margin as market conditions and the timing of a recent product platform launch put pressure on the sale of document systems, supplies and related services. In February, Xerox announced ConnectKeyTM, a software system embedded in 16 new Xerox multifunction printers, many of which began shipping in the second quarter.

    “We’re continuing to shift our business model to adapt to market trends by expanding indirect distribution and streamlining our supply chain and product portfolio,” said Burns. “These changes, along with implementing broader operational improvements across the company, will result in increased margins that will help us scale profitable revenue in services while maintaining strong market share in document technology.”

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  • 04.23.2013

    Walmart Highlights Sustainability Progress in its 2013 Global Responsibility Report

    Walmart today released its sixth annual Global Responsibility Report (GRR), titled “The Responsibility to Lead.” In addition to accomplishments and progress in the areas of social, company and environmental responsibility, the report highlights Walmart’s top achievements in 2012 to reduce its impact on the environment and improve efficiency in its stores, clubs, distribution centers and throughout the supply chain.
     
    “We believe our customers should not have to choose between affordability and sustainability,” said Andrea Thomas, Walmart’s senior vice president of sustainability. “The accomplishments we are sharing today represent Walmart’s focus on our customers, our business and our communities. We will continue to deliver on our commitment to operate responsibly while continuing to provide our customers around the world with everyday low costs.”
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  • 04.23.2013

    Stora Enso Interim Review January–March 2013

    Q1 2013 (compared with Q1 2012)
    •Operational EBITDA EUR 240 (EUR 265) million.
    •Operational EBIT EUR 118 (EUR 150) million due to lower performance in Printing and Reading. Improvement in Biomaterials, Renewable Packaging and wood supply.
    •EPS excluding NRI EUR 0.07 (0.10) and EPS EUR -0.02 (0.09).
    •Cash flow from operations EUR 101 (EUR 223) million affected by working capital increase. Strong liquidity at EUR 1.7 (EUR 1.25) billion.

    Q1 2013 (compared with Q4 2012)
    •Operational EBITDA EUR 240 (EUR 276) million.
    •Operational EBIT EUR 118 (EUR 158) million due to lower performance in Printing and Reading. Improvement in Renewable Packaging and wood supply.
    •Ratio of net debt to the last twelve months’ operational EBITDA 2.7 (2.5).

    Actions and outlook
    •Final approvals to build plantation-based integrated board and pulp mills at Beihai city in Guangxi, China still pending.
    •Ostroleka containerboard machine PM 5 started up in January.
    •Montes del Plata Pulp Mill has initiated the commissioning of the main equipment and expects to begin the mill start-up process during Q3/2013.
    •Earlier announced restructuring plans progressing as planned in Printing and Reading. New plans announced to simplify and streamline Group and business structures aiming at reducing annual costs by EUR 200 million, including the earlier announced EUR 30 million in Building and Living.
    •Q2 2013 sales expected to be slightly higher and operational EBIT in line with or slightly higher than Q1 2013.

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  • 04.23.2013

    Stora Enso rethinks business structure and organisation

    Stora Enso plans to launch a Group streamlining and structure simplification project intended to achieve annual fixed cost savings of EUR 200 million, including the earlier announced EUR 30 million in the Building and Living Business Area, with the full impact starting from the second quarter of 2014. The project is planned to include all Business Areas and corporate functions. In addition to reducing costs, the planned project would reduce interdependencies between businesses and enable a stronger focus on growth in value creating businesses.

    “We plan to clearly and decisively further reduce our fixed costs to revenue ratio not only to adjust to the decline in market demand, but also to clearly add resilience against the cyclical and structural changes in our revenue. The reality is that our European driven printed media markets have shrunk more than 20% since 2008, and there is no reason to believe that the structural change of the past five years in Europe will slow down or change direction in the foreseeable future,” says Stora Enso CEO Jouko Karvinen.

    It is planned to change from four Business Areas to three Divisions by integrating the current Building and Living Business Area with the Printing and Reading Business Area in a new Division mainly focusing on mature businesses and geographies. The other two Divisions would be the existing Renewable Packaging and Biomaterials Business Areas, which would remain as they are and concentrate on growth markets and businesses, as well as innovation.

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  • 04.23.2013

    Summit Natural Gas of Maine Reaches Service Agreement in Principle with Sappi Fine Paper North America

    Summit Natural Gas of Maine and Sappi Fine Paper North America announced today an agreement in principle to establish natural gas service to the Somerset Mill in Skowhegan, Maine, in one of the largest natural gas distribution projects of its kind in the recent history of Maine. Summit's investment of $350 million in pipeline infrastructure will provide the mill access to efficient natural gas, supporting Sappi's low-cost position and commitment to sustainability well into the future.

    "The opportunity to utilize natural gas is essential to maintain the competitive cost position of our Somerset Mill and is another example of our investment in the State of Maine," said Mark Gardner, President and Chief Executive Officer, Sappi Fine Paper North America. "We look forward to working with Summit to establish access to clean, economical natural gas, which we foresee will ultimately reduce fuel costs, be better for the environment, and ensure the long-term profitability of our operations."

    The project, which is subject to regulatory and other approvals, consists of Summit constructing 88 miles of steel pipeline originating in Richmond, Maine and traveling up through the Kennebec Valley to Madison and Skowhegan. In addition to this proposed project with Sappi, Summit plans to serve 17 communities in the region upon total system build-out with the installation of approximately 1600 miles of polyethylene distribution pipeline. Sappi's firm participation in the project is subject to certain corporate capital approvals.

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  • 04.23.2013

    J.D. Irving, Limited Celebrates Earth Day with Eco-Friendly Initiatives

    J.D. Irving, Limited (JDI) marks Earth Day every year by celebrating its employees’ day-to-day commitment to reducing the company’s environmental footprint.

    Across several of its divisions, JDI has made significant reductions in greenhouse gas emissions through a combination of investments in energy efficiency and fuel oil substitution programs.

    In the last five years, the company has reduced its oil consumption by 156 million litres and greenhouse gas emissions by 346,000 tonnes annually - the equivalent of taking 66,500 cars off the road.

    Some examples of JDI’s efforts in 2012 to reduce its footprint on air, land, and water:
    http://www.jdirving.com/article.aspx?id=4292

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  • 04.23.2013

    Sales tax bill advances after Obama offers support

    The U.S. Senate voted late today to move ahead with a debate on online sales tax legislation, and a vote on the bill could come this week. The vote followed President Barack Obama’s endorsement of the bill.

    The U.S. Senate voted 74 – 20 late today to move forward with a debate on a bill that would broadly increase the collection of online sales tax by Internet and catalog retailers. The bill could come to a final vote in the Senate later this week.

    Today's vote was almost identical to the Senate's vote last month on a nonbinding resolution that supported the sales tax bill.
     
    The vote followed the Obama Administration’s endorsement earlier in the day of the legislation before the Senate, known as the Marketplace Fairness Act, or Senate bill S. 743.
     
    “The Administration strongly supports S. 743, which will level the playing field for local small business retailers that are in competition every day with large out-of-state online companies,” the White House said in a statement.

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  • 04.23.2013

    Earth Day: Consumers Less Likely to Shell out Green on Organics

    More cash out of pocket doesn't necessarily equate to greener dispositions in consumers' minds, at least when it comes to organic foods.  That's the conclusion of a Harris Interactive poll of 2,276 adults conducted in anticipation of today's 44th celebration of Earth Day. Perhaps Americans emerged from the recession with a more cynical view: 59% of them agreed that marketers sometimes label products as organic to have an excuse to charge more for them.
     
    “Many are wary of the ‘greenwashing' concept that gives companies a chance to cash in on consumers who want to help the planet, but are confused by all the eco-friendly jargon,” said Harris Poll president Mike deVere in a press release.

    To break it down, more men (63%) than women (54%) questioned the motives of organic marketers, and folks in the Midwest and the South (61%) were more skeptical than Westerners (54%). Political partisanship, apparently, also plays a role in how much people trust organic brands. Nearly two thirds (65%) of Republicans said organic labeling was a scam, versus a little more than half of Democrats (54%).

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  • 04.23.2013

    BillerudKorsnas Interim Report January-March 2013

    Net sales amounted to SEK 5 132 million, compared to SEK 3 068 million in the previous quarter. The increase was due to the Korsnäs acquisition.

    Adjusted operating profit (excluding non-recurring items) reached SEK 432 million. The increase of SEK 305 million from the previous quarter is mainly attributable to the Korsnäs acquisition.

    Integration and realisation of synergies are progressing better than planned and synergies of SEK 77 million have been realised.

    Non-recurring costs of SEK 75 million have burdened the results for the quarter.

    “The first full quarter as the new BillerudKorsnäs has come to an end and the integration of the two companies is progressing very well. We have therefore increased the target with SEK 200 million for our integration program to approximately SEK 530 million in synergies, savings and increased efficiency. Non-recurring costs for realising the synergies and savings will increase to approximately SEK 200 million, but are clearly justified given the expected savings. The sales process of PM2 in Gävle is also progressing according to plan and we expect to be able to fulfill the requirements from EU concerning our acquisition of Korsnäs.
     
    Our adjusted operating profit for the quarter of SEK 432 million is in line with expectations given current environment. The currency situation with a very strong Swedish krona is putting high pressure on our operating profit and the negative impact quarter on quarter is SEK 68 million. Given the strong krona, it is pleasing to see that the integration generates positive savings effects beyond our initial expectations.

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  • 04.23.2013

    Houghton Mifflin Harcourt Acquires 25 Percent Stake in SchoolChapters, Inc.

    Global education leader Houghton Mifflin Harcourt (HMH) today announced the acquisition of a 25 percent stake in SchoolChapters, Inc., an educational solutions provider dedicated to standards-based education quality management, accreditation services and community-based resources for educators and learners. Chris Goodson, HMH’s Senior Vice President of Education Services Innovation, will join the Board of Directors, effective immediately.
     
    SchoolChapters provides both educators and learners with an innovative user-centered platform to record, share, and collect portfolios, showcase knowledge and achievements and to manage these against prominent educational standards across US colleges and the pre-K-12 spectrum.
     
    “The combination of SchoolChapters’ best-in-class quality management and accreditation services and HMH’s proven expertise and experience in educator development and assessment will provide both our companies with increased opportunities to develop nimble, effective cloud-based solutions for educators and learners from pre-K to adult education,” said Chris Goodson.
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  • 04.23.2013

    Packaging Corporation of America Reports Record First Quarter 2013 Results

    Packaging Corporation of America today reported record first quarter net income of $61 million, or $0.62 per share, compared to first quarter 2012 net income, excluding special items, of $41 million, or $0.42 per share. Net sales were a record $755 million, up 12% compared to first quarter 2012 net sales of $671 million.

    The $0.20 per share increase in earnings, excluding 2012 special items, was driven by higher containerboard and corrugated products prices and mix ($0.23), higher sales volume ($0.05) and lower recycled fiber costs ($0.01). These items were partially offset by higher costs including labor and benefits ($0.06), workers’ compensation ($0.01), energy ($0.01) and transportation ($0.01).

    Corrugated products shipments per workday were up 7.1% compared to last year’s first quarter, and total shipments were up 3.8% with two less workdays in this year’s first quarter. Outside sales of containerboard were equal to last year’s first quarter. Containerboard production was 646,000 tons, up 6,000 tons over the first quarter of 2012. PCA ended the quarter with its containerboard inventories about 3,000 tons above year-end levels.

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  • 04.23.2013

    Brent Drops for First Time in Four Days on European Woes

    Brent crude fell for the first time in four days as euro-area services and manufacturing output contracted for a 15th month in April adding to concern that demand for oil will continue to fall in the region.

    Futures dropped as much as 1.6 percent in London as a Purchasing Managers’ index held at 46.5, Markit Economics said. That was in line with economists’ forecasts in a Bloomberg News survey. A reading below 50 indicates contraction. Earlier, the PMI index on China came in at 50.5, below analysts estimates, raising speculation that consumption will falter in the world’s second-biggest crude user.

    “We started the day with weak figures from China and then after that there were disappointing figures from the euro-zone, particularly from Germany,” Thina Saltvedt, an analyst at Nordea Bank AG, said by phone from Oslo today. “It seems like the Chinese economy is slowing down at the moment and it doesn’t seem the euro-zone is stabilizing as had been hoped.”

    Brent for June settlement fell as much as $1.61 to $98.78 a barrel on the ICE Futures Europe exchange. It was at $99.39 as of 11:15 a.m. local time.

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  • 04.23.2013

    Kohl’s Department Stores Releases 2012 Corporate Social Responsibility Report

    Kohl’s Department Stores has released its 2012 corporate social responsibility (CSR) report, providing updates on the company’s programs and accomplishments in sustainability, community relations and social compliance. The report is available for download on Kohl’s Investor Relations page under Corporate Governance and on KohlsGreen.com.

    “In 2012, we continued to evolve and grow many of our programs, furthering the company’s commitment to our communities, business partners and environmental responsibility,” said Kevin Mansell, Kohl’s chairman, president and chief executive officer. “From associate volunteer efforts to educating our supply chain partners about sustainable practices, Kohl’s and our associates are dedicated to making a positive difference. I am proud to share what we have accomplished and our plans for continued progress in the years ahead.”

    Sustainability: Kohl’s Cares®: Advancing Environmental Solutions: Kohl’s is committed to protecting and conserving the environment through solutions that promote long-term sustainability. Key strategies include supply chain collaboration, sustainable operations and stakeholder engagement.

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  • 04.23.2013

    Ahlstrom introduces Ahlstrom Captimax(TM), a new product for fuel filtration

    Ahlstrom, a global high performance fiber-based materials company, launches today Ahlstrom Captimax(TM), a new best-in-class fuel media at the IDEA13 exhibition in the U.S. The product is suited for fuel filters in passenger and commercial heavy-duty vehicles and off-road machinery. Ahlstrom Captimax(TM) is also being evaluated for use in other applications such as hydraulic and fuel water separation.

    By using Eastman's Cyphrex(TM) microfibers, Ahlstrom has created media for a filter that allows manufacturers to obtain optimum micron efficiency ratings and dust holding capacity without making compromises.

    Ahlstrom Captimax(TM) provides a balance of excellent small-particle retention and the potential for longer product life. The media also lets fuel filtration system suppliers maintain existing capacity levels but decrease the product size. In addition, the media can allow for increased efficiency with better options to filter fine particles to protect fuel injectors in vehicles and machines. Ahlstrom Captimax(TM) provides high efficiency allowing engines to perform at their maximum.

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  • 04.22.2013

    UPM's Accident Frequency Dropped an Exceptional 40% Within One Year

    UPM has achieved exceptional success with its workplace safety initiative which was launched at the beginning of 2012. Within a year since the beginning of the Step Change in Safety 2012–2014 initiative UPM’s global Lost Time Accident Frequency (LTAF) decreased by an amazing 40 percent.

    The safety initiative had two goals: to achieve world class safety results within three years and to prevent any fatal accidents at UPM premises.

    “40 percent less accidents at work is a great improvement. The development was positive in all business areas and at the end of the year 2012 nine production units out of UPM’s total of 68 achieved more than one year without any lost time accidents. We are proud of the excellent results of the campaign but the work still continues. Our final target level has not been achieved yet,” says Jussi Pesonen, CEO of UPM.

    The change started with engaging the leaders and led to safer ways of working in all levels of the organization. Key factors in the success of the initiative have been securing the needed resources and the visibility of the initiative. The change is steered with common corporate standards and company-wide safety key performance indicators, which include leading indicators like reporting near-misses, safety observations and safety walks. Safety awards and incentives have been introduced to reward success and improvement in safety performance.

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  • 04.22.2013

    Penguin Close to Ending DoJ, EU Price-fixing Suits

    Penguin is several steps closer to resolving e-book price fixing charges in the U.S. and in the European Union. Thursday, the Department of Justice filed a motion with Judge Denise Cote asking her to approve the final judgment against Penguin, which has until May 3 to file any counter papers. In the EU, the European Commission said Penguin had agreed to changes in e-book pricing that pave the way for a settlement with the company.

    The motion made by the DoJ was no surprise since the government and Penguin had reached an agreement in the case that largely followed settlements reached with Hachette, Simon & Schuster and HarperCollins. The government has since complied with the procedures to get a final judgment, including a public comment period that yielded three responses. Once Judge Cote approves the agreement, the terms will apply to the merged Penguin Random House company once that deal is finalized.

    In the EU, Penguin has been the lone holdout in settling with the commission. While Hachette, S&S, Macmillan, HC and Apple agreed to settle, Penguin had held out, but, the commission said in a statement released Friday, “following constructive discussions with the Commission, Penguin recently offered commitments with a view to seeking an early closure of the proceedings.” In a statement, Penguin reiterated it had done nothing wrong, but said to clear the way for the Random House merger it had agreed to settle. "Penguin confirms that, subject to the market test currently underway, it has reached an agreement with the European Commission to settle its investigation into the establishment of agency pricing agreements for eBooks. Penguin’s position that it has done nothing wrong remains unchanged and the company continues to believe that the agency pricing model operates in the best interests of consumers and authors. While we disagree with some elements of the Commission’s analysis, we are settling as a procedural matter to clear the decks in anticipation of our proposed merger with Random House."

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  • 04.22.2013

    Restoration Hardware swings to loss in Q4, but edges forecasts

    Restoration Hardware Holdings Inc. reported Friday a loss of $28.4 million for the quarter ended Feb. 2, compared with a profit of $24 million in the year-ago period. Results, impacted by costs associated with the company’s November 2012 IPO, edged analysts’ expectations.
     
    Revenue surged 30% to $398.1 million from $305.2 million last year, beating Wall Street’s forecast of $390.5 million. Same-store sales advanced a hefty 26%.
     
    The company has rebranded itself as RH and has moved its focus from Americana goods to high-end furnishings – a move the retailer says will pay off.
     
    "We are well positioned to continue to gain market share and further disrupt the highly fragmented home furnishings marketplace," said Carlos Alberini, CEO. 
     
    For the year, net loss totaled $12.8 million, compared with a profit of $20.6 million in the prior year. Revenue rose 25% to $1.19 billion.
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  • 04.22.2013

    Kimberly-Clark Announces First Quarter 2013 Results

    Kimberly-Clark Corporation today reported first quarter 2013 results and increased its guidance for full-year 2013 adjusted earnings per share.

    Sales of $5.3 billion in the first quarter of 2013 were up 1 percent compared to the year-ago period.  Organic sales rose 3 percent, with increased sales volumes of 2 percent and higher net selling prices of 1 percent.  Foreign currency exchange rates were unfavorable by 1 percent and lost sales in conjunction with European strategic changes and pulp and tissue restructuring actions reduced sales by 1 percent.  

    Operating profit was $783 million in the first quarter of 2013, up 12 percent from $700 million in 2012.  Adjusted operating profit was $850 million in the first quarter of 2013, up 16 percent compared to $735 million in the year-ago period.  Adjusted results in 2013 exclude a $36 million charge for the remeasurement of the local currency-denominated balance sheet due to the February 2013 devaluation of the Venezuelan bolivar and $31 million of restructuring costs for European strategic changes.  Adjusted results in 2012 exclude $35 million of costs for pulp and tissue restructuring actions. 

    The increase in year-over-year adjusted operating profit included benefits from organic sales growth and $85 million in cost savings from the company's FORCE (Focused On Reducing Costs Everywhere) program.  Input costs were $35 million higher overall versus 2012, with $15 million of higher fiber costs, a $10 million increase for other raw materials and $10 million of higher distribution costs.  Overall marketing, research and general expenses increased versus the year-ago period, driven by higher administrative costs, while strategic marketing was down slightly compared to a high level of spending in the year-ago period.

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  • 04.22.2013

    WTI Crude Trades Near One-Week High; Funds Reduce Bullish Bets

    West Texas Intermediate crude traded near the highest price in a week as investors speculated that declines over the past three weeks were excessive. Hedge funds cut bullish bets on WTI by the most in almost two months.

    Futures fluctuated in New York after gaining the past two days. WTI fell in the seven days ended April 19 for a third weekly decline, the longest run since November. Money managers reduced net-long positions, or wagers that U.S. prices will rise, by 6.8 percent in the week ended April 16, according to the U.S. Commodity Futures Trading Commission’s Commitments of Traders report on April 19. It was the biggest drop since the period ended Feb. 26.

    “While we’re holding around this zone, the outlook is starting to look more positive for oil,” said Michael McCarthy, a chief market strategist at CMC Markets in Sydney. “We should see a floor under oil at current levels. A lot of the falls that we’ve seen, not only in oil but other industrial commodities, were related to the weaker growth numbers that we’ve seen out of China and the U.S.”

    WTI for May delivery, which expires today, was at $88.14 a barrel, up 13 cents, in electronic trading on the New York Mercantile Exchange at 3:06 p.m. Singapore time.

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  • 04.22.2013

    Canadian Authorities Cleared Penguin Random House

    The Canadian Competition Bureau and the Department of Canadian Heritage have cleared the planned merger of Penguin Group and Random House without conditions. The two international media companies Bertelsmann and Pearson welcome the Canadian authorities’ decision as another important step on the way to completing the combination of their respective publishing companies Random House and Penguin Group to Penguin Random House.

    On February 14, 2013, the U.S. Department of Justice was the first authority to approve the planned merger – also without conditions. This was followed by approvals in Australia and New Zealand. On April 5, the EU Commission in Brussels also approved the planned combination without conditions. Other regulatory authorities are still reviewing the transaction. After all necessary approvals have been received, Bertelsmann and Pearson can close the transaction. The two companies are confident that the approvals will be forthcoming during the course of the year.

    The new publishing group, whose planned establishment the two partners had announced last October, will be 53 percent owned by Bertelsmann and 47 percent owned by Pearson. Penguin Random House will encompass all Random House and Penguin Group publishing units in the U.S. and U.K., Canada, Australia, New Zealand, India and South Africa, as well as Penguin's activities in China and Random House’s publishers in Spain and Latin America.

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  • 04.22.2013

    Final March NA Printing/Writing Data (UBS)

    PPPC released final March North American printing and writing statistics on Friday afternoon, though data for some grades was available on Thursday.

    March showed seasonal recovery, but tepid underlying trends. Despite a more moderate shipment decline, in some ways trends were weaker than February given materially easier comparables. Inventories rose more than normal. Utilization softened modestly month over month and declined more on a yearover-year basis. Trade flows were favorable, with net imports falling to a 16-month low.

    In terms of grades, all four posted better shipment trends compared to February but each saw much easier comparables. All grades posted declines in utilization. All four grades posted unfavorable inventory trends compared to normal. Coated groundwood saw an unfavorable trade development (both year over year and month over month) other grades saw favorable trade developments.

    Once again, uncoated groundwood had the strongest shipment trend in the month, benefiting from a dramatically easier comp. Coated groundwood had the weakest shipment trend. Uncoated free posted the strongest utilization, 300 basis points stronger than the next closest grade.

    Total North American printing and writing paper shipments fell 5.3% year over year in March, improved from an 8.5% decline in February. The March comp was 1050 basis points easier than in February. Shipments are off 4.9% year to date.

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  • 04.19.2013

    Mag Bag: MAZ Gives Publishers Usage Data


    Magazine publishers that use the MAZ digital publishing platform are gaining access to more detailed usage data for their apps, including time spent per page, tap-through rates of links and multimedia and aggregate metrics, like total number of app and content sessions.
     
    The new usage data are being offered as part of MAZ 3.0, a new version of the platform, which incorporates the analytics and reporting tool, Maz Stats, into its digital dashboard. Maz Stats is specifically designed for publishers creating content for tablets and mobile devices.
     
    It includes the five main tablet metrics recommended by the MPA – The Association of Magazine Media. It also allows publishers to break out sharing data by social media channel and see which actual pieces of content are being shared socially using MAZ’s Clippings feature.
     
    MAZ Founder and CEO Paul Canetti stated: “The insights MAZ now provides will inspire more experimentation and eventually will generate new revenue streams as advertisers demand more granular metrics for digital content. Instead of shooting in the dark, publishers can actually know what is working and what is not.”
     
    MAZ also announced that it is expanding to other platforms with MAZ 3.0, including products for iPhone, Android smartphones and tablets, as well as the Amazon Kindle Fire and Kindle Fire HD.

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  • 04.19.2013

    EFI Reports Record First Quarter With Revenue of $171M, Up 7%

    Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced its results for the first quarter of 2013.

    For the quarter ended March 31, 2013, the Company reported first quarter record revenue of $171.4 million, up 7% compared to first quarter 2012 revenue of $160.1 million. First quarter 2013non-GAAP net income was $15.8 million or $0.33 per diluted share, which included an unfavorable non-operational currency impact of $0.04 per diluted share, compared to non-GAAP net income of $14.2 million or $0.30 per diluted share for the same period in 2012. GAAP net income was $8.4 million or $0.17 per diluted share, compared to $6.2 million or $0.13 per diluted share for the same period in 2012.

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  • 04.19.2013

    Catalyst paper announces CEO's departure

    Catalyst Paper announced today that President and Chief Executive Officer Kevin J. Clarke will step down from his position later this spring. Mr. Clarke has advised Catalyst’s Board of Directors that, with the company’s recent financial restructuring successfully completed, the time is right for a leadership transition.
     
    “Kevin steered Catalyst through a pivotal three years and the Board of Directors extends its appreciation to him,” said Chairman Les Lederer. “Under his leadership, the company intensified its focus on stakeholder relationships which culminated in the rapid completion of a reorganization plan that significantly improved Catalyst’s balance sheet and cost structure.
     
    “His printing and publishing industry experience was also helpful in advancing product and market development objectives,” Mr. Lederer said, “and served to put Catalyst on better footing to address the ongoing challenges of the fiercely competitive paper and pulp industry.”
     
    Mr. Clarke will continue in his role for an interim period through June 2013 to assist in a smooth transition. He plans to return to his home in New York State, where his family resides. A search for his successor is underway.
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  • 04.19.2013

    AAA Fuel Gage & Exchange Rates

    AAA Fuel Gage 4/19/13
    National Unleaded Regular:
    Current Average - $3.506/gallon
    Month Ago Average - $3.697/gallon
    Year Ago Average - $3.891/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $3.932/gallon
    Month Ago Average - $4.053/gallon
    Year Ago Average - $4.136/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 4/19/13
    American Dollar to Canadian Dollar = 0.975932
    American Dollar to Chinese Yuan = 0.161826
    American Dollar to Euro = 1.308765
    American Dollar to Japanese Yen = 0.010070
    American Dollar to Mexican Peso = 0.081701

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  • 04.19.2013

    WTI Crude Advances for a Second Day as Brent Climbs Above $100

    West Texas Intermediate crude rose for a second day to trim its third weekly drop, the longest losing streak since November. Brent climbed above $100 a barrel.

    WTI advanced as much as 1.2 percent in New York. Prices increased the most in three weeks yesterday after the 14-day relative-strength index sank below 30 on April 17, a signal that the market is oversold, data compiled by Bloomberg show. Futures may decline next week on signs that economic growth is slowing, according to a weekly Bloomberg News survey.

    “We would expect a rebound,” said Miswin Mahesh, an analyst at Barclays Plc in London. “This year we’ll see very good demand growth,” and the seasonal weakness in demand is “something that we think is very transient, very temporary,” he said.

    WTI for May delivery increased as much as $1.06 to $88.79 a barrel in electronic trading on the New York Mercantile Exchange and was at $88.53 at 12:22 p.m. London time.

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  • 04.18.2013

    Sonoco Reports First Quarter 2013 Results

    Sonoco, one of the largest diversified global packaging companies, today reported financial results for its first quarter that ended March 31, 2013.

    First Quarter Highlights
    •First quarter 2013 GAAP earnings per diluted share were $.47, compared with $.42 in 2012.
    •First quarter 2013 GAAP results include $.03 per diluted share in after-tax charges related to previously announced restructuring activities and the impact of currency devaluation on operations in Venezuela. First quarter 2012 GAAP results included a $.10 per diluted share charge related to restructuring activities and acquisition-related expenses.
    •Base net income attributable to Sonoco (base earnings) for first quarter 2013 was $.50 per diluted share, compared with $.52 in 2012. (See base earnings definition and reconciliation later in this release.) Sonoco previously provided first quarter base earnings guidance of $.50 to $.54 per diluted share.
    •First quarter 2013 net sales were $1.18 billion, down 3 percent, compared with $1.21 billion in 2012.

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  • 04.18.2013

    Skateboarder Magazine Goes Digital-First

    Skateboarder Magazine isn't abandoning print altogether, but--not surprisingly for a young, male enthusiast title--it's going to concentrate a lot more on digital from now on.

    The 49-year-old GrindMedia brand is replacing its subscription-based print magazine with a free digital edition and a bimonthly print replica of the digital issue beginning with its current April/May issue.
     
    "We've learned that we need to change our focus with this particular audience and start with the notion of quick-hit videos," says Norb Garrett, senior vice president and group publisher for GrindMedia, an action and adventure sports division of Source Interlink. "From there we build other ancillary products. The magazine becomes almost a promotional device rather than the central focus. We've had to shift where the starting point is and where the delivery point is."
     
    The changes began early this year as Skateboarder Magazine saw several of its print-focused editorial staff replaced with web and video experts. Those moves came in response to growing web traffic--up 186 percent since they increased investment in video last year, Garrett says--and traditionally poor penetration into the audience. He estimates skateboard print media reaches less than 250,000 out of a potential audience of 22 million.

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  • 04.18.2013

    Crown Holdings Reports First Quarter 2013 Results

    Crown Holdings, Inc. today announced its financial results for the first quarter ended March 31, 2013.
     
    First Quarter Highlights
    Income per diluted share $0.28; Before Certain Items $0.50
    Global beverage can volumes grew 6% driven by strong growth in Brazil and Asia Pacific
    Second production lines in Putian, China and Bangi, Malaysia were commercialized

    Net sales in the first quarter grew to $1,973 million over the $1,947 million in the first quarter of 2012, primarily driven by increased global beverage can sales unit volumes more than offsetting lower raw material costs.
     
    First quarter gross profit improved to $299 million over the $287 million in the 2012 first quarter, primarily due to increased beverage can sales and reduced depreciation expense, partially offset by lower profits in the European Food segment.
     
    Selling and administrative expenses were $104 million in the first quarter compared to $106 million in the same period last year.
     
    Segment income (a non-GAAP measure defined by the Company as gross profit less selling and administrative expense) increased to $195 million in the first quarter compared to $181 million in the first quarter of 2012 primarily due to improved gross profit.

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  • 04.18.2013

    Introducing EVOK from Cascades—the first polystyrene foam food tray made with recycled material

    Cascades's new EVOK™, the first polystyrene foam food tray in North America made with recycled material, can now be found on the grocery shelves of an important Canadian distributor. EVOK™ was created to package meat, poultry, fish, vegetables, and fresh fruit. Cascades is proud to offer this innovative new product and reaffirm its position as a leader in packaging that respects the environment.

    By reducing the use of virgin material and introducing recycled material—at a level of 25%—Cascades has lowered the carbon footprint of food packaging.

    METRO has adopted the initiative with lots of enthusiasm. “Rethinking packaging is one of our priorities in our Corporate Responsibility approach,” says Mr. Serge Boulanger, METRO's Senior Vice-President, National Procurement and Corporate Brands. “We're very pleased to contribute to the best practices by becoming the first national brand to use EVOK™ in all our stores in Quebec.”

    Replacing regular packaging with EVOK™—which contains recycled material—enables METRO to reduce Quebec's greenhouse gas emissions (GHG) by some 600 tons. That's roughly the equivalent produced by 200 compact cars.

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  • 04.18.2013

    Brent Rises From Nine-Month Low; No Emergency OPEC Talks Seen

    Brent crude rose from its lowest closing level in nine months and West Texas Intermediate advanced for the second time in six days,as European equities gained. OPEC was said to have no plans for an emergency meeting.

    Brent climbed as much as 1.4 percent, reversing an earlier loss of 1 percent. WTI added as much as 1.2 percent. European shares rose after the biggest four-day selloff since July as Italian and Spanish bonds rallied. The Organization of Petroleum Exporting Countries has no plans to hold emergency talks in response to oil’s drop, according to two delegates with knowledge of the group’s policy.

    “We do not believe that the timing is there just yet for Brent prices to drop sustainably below $100,” said Torbjoern Kjus, a senior oil analyst at DNB ASA in Oslo.

    Brent for June settlement on the London-based ICE Futures Europe exchange increased as much as $1.41 to $99.10 a barrel, and traded for $99.06 at 10:29 a.m. local time. Brent settled at $97.69 yesterday, the lowest close since July 2, after dropping below $100 a barrel this week for the first time in more than eight months. The volume of all futures traded today was 40 percent higher than the 100-day average.

    WTI for May delivery was at $87.70 a barrel, up $1.02, in electronic trading on the New York Mercantile Exchange at 10:24 a.m. London time after falling earlier as much as $1.07 to $85.61.

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  • 04.18.2013

    Postmaster General Urges Congress to Provide Delivery Schedule Flexibility to Address Broken Business Model

    Postmaster General Patrick R. Donahoe told a House committee today that the Postal Service is currently operating with a broken business model and the gap between revenues and costs will only get worse in the coming years unless the laws that govern the Postal Service are changed.

    “Our financial problems are due to the restrictive laws that prevent us from fully responding to changes in consumer behavior,” Donahoe testified before the House Oversight and Government Reform Committee. “Any private sector company could quickly adapt to the market changes we have experienced, and remain profitable. However, we do not have all of the flexibility we need to adapt to a changing marketplace.”

    Donahoe said the Postal Service continues to be very aggressive in cost-cutting actions it can take within the law, reducing its cost base by $15 billion since 2006. “No other organization, public or private, that I am aware of, can claim a similar cost reduction while continuing to function at a high level. And yet, we have to go much further and much faster and we are prepared to do so.”

    The Postal Service would have reduced costs an additional $2 billion annually by implementing the new delivery schedule announced in February. However, according to Postal Service legal opinions, House Resolution 933 to fund government operations for the remainder of the fiscal year included language specifically designed to prevent the Postal Service from changing to the new delivery schedule.

    “The Postal Service is a responsible, law-abiding arm of the executive branch. Congress passed a law, we reviewed it carefully, we complied with it and we informed our customers – which is what we did last week,” Donahoe told the Committee. “Our customers require certainty, especially about something as fundamental as our delivery schedule. And so, we announced that we would delay implementation of our new schedule until we gained legislation giving us the ability to move forward.”

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  • 04.18.2013

    Huge blaze at paper mill

    The fire, in the stockyard at Smurfit Kappa's SSK site in Nechells, to the north-east of Birmingham, broke out at around 10pm last night.

    It was a severe blaze, with 15 fire engines and some 100 firefighters from West Midlands Fire Service required to tackle it.

    There were also concerns about smoke drifting across the nearby M6 motorway. Nobody was hurt in the incident.
     
    The site is one of Smurfit Kappa's two recycled packaging mills in the UK, and produces testliner and recycled fluting. It processes more than 200,000 tonnes of recovered fibre a year, according to the company.
     
    The fire is understood to have involved 10,000 tonnes of cardboard for recycling stored in the yard. Local reports said the main building was unaffected, but this is yet to be confirmed by Smurfit Kappa.
     
    There has been a paper mill on the site for 150 years, and the mill has been manufacturing recycled grades since 1911. The name of the mill, which currently employs 110 staff, is based on the surnames of the founders: Smith, Stone and Knight.
     
    Smurfit Kappa issued a brief statement this morning. The company said: "At approximately 10pm last night a fire started in the paper yard and rapidly spread to the remaining raw material stock. Emergency services were called and are co-ordinating a combined operation to bring the situation under control. No one has been injured and we are co-operating fully with the emergency services on site."

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  • 04.17.2013

    WWF and other NGOs question APP forest promises

    The much-touted new deforestation policy of controversial paper giant Asia Pulp & Paper (APP) will save almost no forests in its main base of operations, Sumatra, Indonesia, a new report by NGO coalition Eyes on the Forest has concluded.

    APP and Sinar Mas announced the policy in February as “an end to the clearing of natural forest across its entire supply chain in Indonesia, with immediate effect.” However, a new Eyes on the Forest (EoF) analysis that looks at all APP concessions – including those not covered by the moratorium - in Riau Province, Sumatra, found that the policy protects at most 5,000 hectares of natural forest. This compares to the deforestation of more than 2 million hectares caused by the operation of APP’s Sumatra pulp mills over the past three decades.

    “We’re extremely disappointed. When APP published the policy, we thought it could be great news for Indonesia’s forests, biodiversity and citizens,” said Nazir Foead, Conservation Director of WWF-Indonesia. “However, after this new analysis for Sumatra, it appears that the company has announced a halt to deforestation only after completing nearly all the deforestation it could possible do.”

    Among APP’s many natural forest wood sources are the concessions of its suppliers in Riau Province. They alone lost more than 680,000 hectares of natural forest between the start of the company’s Riau pulp mill in 1984 and 2012. Of that, 77% was lost in legally questionable ways, while an even larger proportion - 83% - consumed the habitat of critically endangered Sumatran tigers and elephants.

    WWF called on APP and Sinar Mas to announce a forest restoration commitment.

    “The company is asking for a grand amnesty, for the ‘past to be forgotten’, leaving our country to deal with devastated ecosystems, social conflicts, on-going greenhouse gas emissions and critically endangered species who lost their habitat,” says Aditya Bayunanda, GFTN and pulp & paper manager of WWF Indonesia. “That is not acceptable, Indonesian NGOs are calling on APP to restore selected peatlands and forests lost in protected, High Conservation Value areas and to mitigate the damage its operations caused to surrounding natural forests, peat soils, and wildlife.”

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  • 04.17.2013

    Life Cycle Assessment Can Quantify Impact of Forest Certification, Study Shows

    Companies can measure and minimize the environmental footprint of the wood-based products they are sourcing, according to a recent study by Quantis. The study confirmed that it is possible to quantify to a certain extent the impact differential between certified and non-certified forest products within Life Cycle Assessments (LCA).
     
    "This development is extremely beneficial to everybody wishing to quantify the impact of their responsible timber sourcing practices and integrate it within product life cycle assessments," commented Sarah Price, Head of Projects & Development of PEFC International, the partner to Quantis in this project.
     
    Corporations and consumers alike share a desire to better understand and address the sustainability of the products they manufacturer and consume. However, product sustainability is a massively complex, multifaceted arena, requiring a corresponding diversity of approaches to manage and evaluate. One of these approaches is life cycle assessment, a technique to assess environmental impacts associated with all the stages of a product's life from cradle-to-grave. For timber and wood-based products, however, there has until now not been any data or methodology to integrate the comparative environmental impacts of certified products as compared to uncertified products into life cycle assessment.
     
    “Responsible companies’ source certified forest products because they know it’s the right thing to do, but until now they’ve been unable to quantify the real impact of that decision on climate change, human health or ecosystem quality,” Ms Price continued. “PEFC saw this as a lost opportunity and partnered with Quantis to develop new LCA datasets and fill this gap.”
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  • 04.17.2013

    MWV Healthcare Receives Walmart Responsibility Award for Total Health and Wellness

    MeadWestvaco Corporation, a global leader in packaging and packaging solutions, received Walmart’s "Responsibility Award for Total Health and Wellness,” which recognizes MWV’s development of the Shellpak® Renew medication adherence solution.

    Shellpak Renew was launched in June 2012 to provide an improved and more sustainable medication adherence package for prescription medicines. This type of packaging is proven to help improve patient medication adherence. Better adherence can lead to better patient health.

    Shellpak Renew was developed based on feedback from pharmacists and patients. The outer carton is made of MWV’s Natralock®, an environmentally-friendly, paperboard-based solution that maximizes the use of recyclable materials and is tear-resistant for a high level of child resistance. The new sustainable and easy-to-use Shellpak Renew is 40 percent smaller and 30 percent lighter than the original Shellpak®, and eliminates the use of plastic. This enhances the sustainability profile, minimizes pharmacy shelf space and improves convenience for patients. To improve adherence, Shellpak Renew includes an integrated calendar for patients to track their doses of medication.

    Shellpak Renew is an evolution of MWV’s Shellpak adherence solution, which originally launched in 2008. In a first-of-its-kind study published in Clinical Therapeutics, “A Pharmacoepidemiologic Analysis of the Impact of Calendar Packaging on Adherence to Self-Administered Medications for Long-Term Use,” conducted by Venebio and funded by MWV, when used alone Shellpak was found to demonstrate a statistically significant impact over vials, improving adherence and persistence for long-term daily medications.

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  • 04.17.2013

    Catalogers turn to online marketing when print’s too pricey

    While a print catalog may be justified for a major sales holidays like Mother’s Day or Valentine’s Day, e-mail and online advertising can be more profitable marketing vehicles for catalog retailers when it comes to lesser events, such as teacher or employee recognition days.
     
    Typically, major events warrant printing and mailing catalogs to drive sales because so many consumers are shopping for several weeks ahead of the event. But for other events, catalogers may not be able to justify producing a catalog that draws the attention of fewer consumers who may not shop much in advance for these lesser observances. That’s where online tools can help drive traffic to their e-commerce sites.
     
    By placing display ads on web sites or sending e-mail marketing messages, gift retailer Harry & David Holdings Inc. can quickly get marketing messages in front of consumers, says Paul Lazorisak, Harry & David vice president of customer marketing. “The promotional cadence is geared to those moments,” he says. “Catalogs can’t target down to several hundred people,” Lazorisak says.
     
    As a result, Harry & David, sends fewer printed catalogs than it once did, though Lazorisak would not be specific on how many fewer, and relies more on online marketing and its e-commerce site to carry sales. According to preliminary data from the 2013 Internet Retailer Top 500 Guide, in 2012, Harry and David’s e-commerce sales of $171.9 million accounted for 46.5% of its fiscal 2012 sales of $369.3 million; in 2005, web sales accounted for 17% of total sales of $561.8 million.
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  • 04.17.2013

    HP Empowers Customers to Print Responsibly with New Products, Expanded Recycling Options

    HP today announced new products and expanded solutions that enable printing customers to reduce their environmental impact while benefitting from the quality and reliability of Original HP printing supplies.

    The new offerings include a complete line of sustainably sourced papers and the addition of Office Depot as HP’s newest retail recycling ally.

    An industry leader in the shift to more environmentally sustainable printing, HP is leveraging key relationships with manufacturing, retail and nongovernmental organization (NGO) partners to provide customers with products and solutions designed with the environment in mind—from design and manufacturing to use and recycling.

    “Our customers want printing solutions that offer quality and reliability, with proven environmental performance,” said Annukka Dickens, director, Americas Environmental Leadership Team, HP. “HP’s approach includes innovative and environmentally sustainable product design, and free and easy return and recycling to help customers reach their sustainability goals.”

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  • 04.17.2013

    Cenveo Completes Refinancing of Credit Facilities

    Cenveo, Inc. today announced that its subsidiary, Cenveo Corporation, has completed the refinancing of its existing senior secured Term B Loan and Revolving Credit Facility with an amended and restated $360 million Term B Loan facility, through Bank of America, N.A. as administrative agent, and joint lead arrangers Bank of America, N.A., Macquarie Capital (USA) Inc. and Barclays Bank PLC, along with a new $200 million asset based loan (“ABL”) Credit Agreement with Bank of America, N.A., as administrative agent, and Bank of America, N.A., Wells Fargo Bank, National Association, Barclays Bank PLC and General Electric Capital Corporation as joint lead arrangers.

    The new credit facilities will provide significant benefits for the company including:
    • Reducing the Term B Loan all-in interest rate from 7.00% to 6.25%;
    • Lowering the cost of borrowing on our revolver from 7.00% to approximately 2.20% based on current one month LIBOR rates and the initial interest rate spread;
    • Providing increased financial flexibility with updated covenants;
    • Subject to the satisfaction of certain requirements relating to the refinancing of Cenveo’s existing senior unsecured notes and senior second lien notes, extending the Term B Loan maturity from December 21, 2016 to April 16, 2020 and extending Cenveo’s revolving credit facility maturity from December 21, 2014 to April 16, 2018.

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  • 04.17.2013

    WTI Crude Trades Near Four-Month Low Before Supply Data

    West Texas Intermediate fell for the fourth time in five days, trading near the lowest level in almost four months before government data forecast to show U.S. crude inventories rose last week.

    WTI dropped as much as 1 percent. An Energy Department report today may show crude supplies rose 1.2 million barrels to the highest level in 22 years, according to a Bloomberg survey. That’s contrary to a report yesterday from the American Petroleum Institute, which showed stockpiles slid 6.7 million barrels last week, the most since the seven days ended Dec. 28.

    “The oil market is looking quite weak and there’s a comfortable supply-demand situation in the short term,” said Gerrit Zambo, an oil trader at Bayerische Landesbank in Munich, who predicts the European benchmark, Brent, may tumble to $80 a barrel in the first half. “The fundamental reason for the bearish situation is the cautious outlook worldwide.”

    WTI for May delivery declined as much as 87 cents to $87.85 a barrel, and was at $88.03 in electronic trading on the New York Mercantile Exchange at 11:29 a.m. London time.

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