Paperclips Blog | Crude Oil Results

  • 10.11.2011

    Sappi Announces Strategy Update to Position Group for the Future

    Sappi today announced a strategy update that will position the global pulp, paper and cellulose-based solutions group for the future.

    Dealing with the current tough market conditions and the declining trend in demand for graphic paper in its major markets, Sappi has indicated for some time that it was taking decisive action to reposition itself for improved performance.

    Sappi's strategy involves four key themes, namely: continuing to optimise our better performing businesses, fixing our underperforming businesses, investing for future growth in higher margin businesses, including chemical cellulose, and achieving this within the reality of the group's liquidity and balance sheet.

    We aim to generate at least 60% of operating profit from these higher margin growth businesses within 3 to 5 years, achieving real growth in the revenue line and asset base and exceeding our minimum ROCE target of 12%.

    It is clear that there is a declining demand trend for graphic paper in our major markets but we see opportunities in these businesses, which are currently the backbone of the group, to generate reasonable net profits and strong cashflows for many years.

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  • 10.11.2011

    Crude Oil Drops From Two-Week High in New York Before Vote on Europe Debt

    Oil fell from its highest in more than two weeks in New York before a government vote in Slovakia on the euro area’s bailout fund that may endanger a recovery in the region’s economy.

    Futures slipped as much as 1.3 percent and European equities fell after European Central Bank President Jean-Claude Trichet said the region’s debt crisis has “reached a systemic dimension.” Crude climbed 2.9 percent yesterday after German Chancellor Angela Merkel and French President Nicholas Sarkozy said they will deliver a plan to recapitalize the region’s banks by Nov. 3. An Energy Department report Oct. 13 may show U.S. crude supplies rose last week.

    “Oil is on the weaker side on somewhat weaker equities,” said Eugen Weinberg, the Frankfurt-based head of commodities research at Commerzbank AG. “There is probably also some profit-taking after strong gains yesterday, when comments from Sarkozy and Merkel showed light at the end of the tunnel for the euro zone.”

    Crude for November delivery on the New York Mercantile Exchange fell as much as $1.14 to $84.27 a barrel and was at $84.94 at 11:10 a.m. London time. The contract yesterday gained 2.9 percent to $85.41, the highest close since Sept. 21. Prices are down 7.1 percent this year.

    Brent oil for November settlement declined 0.6 percent to $108.29 on the London-based ICE Futures Europe exchange. The European benchmark contract was at a premium of $23.35 to New York crude, compared with a record of $26.87 on Sept. 6.

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  • 10.10.2011

    MWV Named to Dow Jones Sustainability World Index for Eighth Straight Year

    MeadWestvaco Corp. today announced it is listed on the 2011 Dow Jones Sustainability World Index (DJSI World) for the eighth consecutive year. The DJSI World recognizes the world's leading companies in the areas of economic, environmental and social performance, and evaluates organizations based on their commitment to and success in integrating sustainability into core business objectives and performance. In addition to being among the 342 companies listed on the world index, the global packaging company was the only company in its category to be listed on the North American index.

    MWV maintained its best-in-class score in the Social Dimension of the index criteria based on the strength of programs to engage stakeholders in critical projects and establish standards of conduct for all suppliers. The company also has an industry-leading Code of Conduct for employees, and scored above its peers for environmental policies and management systems. These scores demonstrate and support the company's every day commitment to sustainability. MWV realizes the value and impact of its daily actions and makes responsible decisions to sustain the world by researching renewable materials, building sustainable products and creating work environments that encourage a lighter footprint.

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  • 10.10.2011

    Tembec sells its already closed Pine Falls, Manitoba mill property and assets

    Tembec announced today that Pine Falls Development Corporation (PFDC) has acquired the Tembec Pine Falls, Manitoba mill property and assets. PFDC is an investment project of NRI Global Inc., a company that acquires and manages assets throughout North America.

    The site is being sold for nominal net proceeds and the transaction will not impact the Company’s financial results as its carrying value had been reduced when the newsprint mill located on site was permanently idled.

    The Tembec Pine Falls facility ceased production in September 2009. Permanent closure was announced in 2010.

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  • 10.10.2011

    Tembec looking to invest $100 million to expand pulp production in Temsicaming

    Forest products producer Tembec Inc. announced plans Thursday that could lead to a further $100-million investment to expand its pulp facility in Temiscaming, Que., by 2015.

    Chief executive James Lopez told a New York investor conference that the second phase of changes at its key facility would add 30,000 tonnes of annual capacity of specialty dissolving pulp.

    "It's under study and not yet approved, however all the signs are looking very, very positive for that project," he said.

    The expansion would add 10 megawatts of electricity that would be sold to Hydro-Quebec, would generate $41 million of annual pre-tax operating earnings (EBITDA) and have a 2.4-year payback.

    Funding is to come entirely from cash flow generated from operations.

    Timing of the expansion will be tied to the company's performance and could be advanced if profits soar ahead of expectation.

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  • 10.10.2011

    Sonoco-Alcore(R) Opens State-Of-The-Art Paper Core Facility in Grünsfeld

    Sonoco-Alcore S.a.r.l., a wholly owned subsidiary of Sonoco, one of the largest diversified global packaging companies, today announced the opening of its new paper tube and core manufacturing facility in Grünsfeld, Germany. The new Grünsfeld plant will focus its production on M-Core(TM) wide-ply paper mill cores used in the high-end segment of the paper industry.

    "Investment in this new facility is primarily about responding to the changing market needs in the European paper industry," said Adam Wood, vice president of Sonoco-Alcore. "European printing houses have evolved, using wider printing presses and increased running speeds, which means traditional paper mill cores must evolve also."

    "With the Grünsfeld facility, we have invested in bringing this technology to Germany, meeting the needs of Central European paper mills and allowing our customers to better supply print houses with a cost-effective, quality product."

    Sonoco-Alcore developed wide-ply paper technology and the M-Core Series to produce a core with improved properties such as increased dynamic strength and e-modulus, meeting the requirements of new printing machines.

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  • 10.10.2011

    Limited Brands Reports September 2011 Sales

    Limited Brands, Inc. reported a comparable store sales increase of 11 percent for the five weeks ended Oct. 1, 2011, compared to the five weeks ended Oct. 2, 2010. The company reported net sales of $818.6 million for the five weeks ended Oct. 1, 2011, compared to net sales of $735.8 million last year.

    The company reported a comparable store sales increase of 11 percent for the 35 weeks ended Oct. 1, 2011, compared to the 35 weeks ended Oct. 2, 2010. The company reported net sales of $6.196 billion for the 35 weeks ended Oct. 1, 2011, compared to sales of $5.540 billion last year.

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  • 10.10.2011

    Target Reports September Sales Results

    Target Corporation today reported that its net retail sales for the five weeks ended October 1, 2011 were $5,923 million, an increase of 6.5 percent from $5,562 million for the five weeks ended October 2, 2010. On this same basis, September comparable-store sales increased 5.3 percent.
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  • 10.10.2011

    Gap Inc. Reports September Sales

    Gap Inc. today reported that September 2011 net sales remained flat compared with last year.

    Net sales for the five-week period ended October 1, 2011 were $1.35 billion compared with net sales of $1.34 billion for the five-week period ended October 2, 2010. The company’s comparable sales for September 2011, which include the associated comparable online sales, were down 4 percent compared with a 1 percent decrease for September 2010.

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  • 10.10.2011

    Macy's, Inc. Same-Store Sales up 4.9% in September

    Macy's, Inc. today reported total sales of $2.298 billion for the five weeks ended Oct. 1, 2011, an increase of 5.3 percent compared with total sales of $2.181 billion in the five weeks ended Oct. 2, 2010. On a same-store basis, Macy's, Inc. sales were up 4.9 percent in September.

    For the year to date, Macy's, Inc.'s sales totaled $15.840 billion, up 6.1 percent from total sales of $14.928 billion in the first 35 weeks of 2010. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 5.6 percent.

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  • 10.10.2011

    Nordstrom Reports September Sales

    Nordstrom, Inc. today reported a 10.7 percent increase in same-store sales for the five-week period ended October 1, 2011 compared with the five-week period ended October 2, 2010. Preliminary total retail sales of $943 million for September 2011 increased 16.3 percent compared with total retail sales of $810 million for the same period in fiscal 2010.

    Year-to-date same-store sales increased 7.4 percent compared with the same period in fiscal 2010. Preliminary year-to-date total retail sales of $6.58 billion increased 12.8 percent compared with total retail sales of $5.83 billion for the same period in fiscal 2010.

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  • 10.10.2011

    Kohl's Corporation Reports September Comparable Store Sales

    Kohl's Corporation reported today that for the five-week month ended October 1, 2011 total sales increased 5.8 percent and comparable store sales increased 4.1 percent over the five-week month ended October 2, 2010. Year to date, total sales increased 3.3 percent and comparable store sales increased 1.5 percent.
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  • 10.10.2011

    Saks Incorporated Announces September Comparable Store Sales

    Retailer Saks Incorporated today announced that owned sales totaled $275.0 million for the five weeks ended October 1, 2011 compared to $256.4 million for the five weeks ended October 2, 2010, a 7.3% increase. Comparable store sales increased 9.3% for the month.

    On a year-to-date basis, for the eight months ended October 1, 2011, owned sales totaled $1,814.8 million compared to $1,655.9 million for the prior year eight months ended October 2, 2010, a 9.6% increase. Comparable store sales increased 11.5% for the eight months.

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  • 10.10.2011

    J. C. Penney Company, Inc. Reports September Sales results

    J. C. Penney Company, Inc. reported today that its comparable store sales for the five-week period ended Oct. 1, 2011, decreased 0.6 percent, compared to a 5.1 percent increase in the same period last year. Total Company sales decreased 3.6 percent for the month. While sales overall were softer than anticipated in September, children's apparel and women's accessories were the better performing merchandise divisions this month. The southeast region was the top performing geographic region in September.
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  • 10.10.2011

    The Bon-Ton Stores, Inc. Announces September Sales

    The Bon-Ton Stores, Inc. today announced comparable store sales for the five weeks ended October 1, 2011 decreased 3.6%. Total sales decreased 4.1% to $286.9 million for the five weeks compared with $299.2 million for the prior year period.

    Year-to-date comparable store sales decreased 2.1%. Year-to-date total sales decreased 2.7% to $1,709.4 million compared with $1,756.3 million for the same period last year.

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  • 10.10.2011

    Oil Rises a Fourth Day as Europe Pledges to Contain Debt, U.S. Gains Jobs

    Oil climbed for a fourth day in New York as investors bet that fuel demand may increase after a pledge by European leaders to contain the region’s sovereign- debt crisis.

    Futures rose as much as 2.1 percent after the biggest weekly gain in seven months. German Chancellor Angela Merkel and French President Nicolas Sarkozy gave themselves three weeks to stamp out the European crisis, causing the euro to gain against the dollar. U.S. employers added more workers in September than forecast, a report showed Oct. 7. OPEC is likely to keep oil output targets unchanged when it meets in December, Mohammad Ali Khatibi, an Iranian representative to the group, said yesterday.

    Crude is rising on “high hopes for an imminent Eurozone bailout,” Andrey Kryuchenkov, a London-based analyst at VTB Capital, said in an e-mail. “Policymakers in the EU have few options and no one wants 2008 all over again.”

    Crude for November delivery advanced as much as $1.74 to $84.72 a barrel in electronic trading on the New York Mercantile Exchange and was at $84.56 at 11:24 a.m. in London. West Texas Intermediate last week gained 4.8 percent, the biggest gain since the five days ended March 4. Prices are down 8.2 percent this year.

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  • 10.10.2011

    Hanley Wood to shutter two magazines

    Hanley Wood CEO Frank Anton confirmed the construction industry media company is shuttering Building Products and Big Builder. The two magazines will cease publishing with their final scheduled issues this year. As a result of the closures, five positions were also eliminated.

    Additionally, Anton confirmed that Hanley Wood will no longer develop eBuild.com, an online directory of building products. The site, however, will continue to appear online.

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  • 10.10.2011

    New Wood Fiber-Based Durable Tag Lets Growers and Retailers Replace Plastic

    Monadnock Paper Mills, Inc. announces the launch of Monadnock EnviTM Durable Tag. Created as a replacement for HDPE, styrene and PLA plastics, this new durable, wood fiber-based substrate is designed for outdoor/weatherproof use in a wide variety of horticultural applications including tag, label, pot wrap and signage.

    Envi Durable Tag is Forest Stewardship CouncilTM (FSC®) certified (Co18866 www.fsc.org). The FSC label ensures responsible use of forest resources as certified by the Rainforest AllianceTM.

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  • 10.10.2011

    Sonoco Signs Definitive Agreement to Acquire Tegrant Corporation

    Sonoco, one of the largest diversified global packaging companies, today announced that it has signed a definitive agreement to acquire Tegrant Corporation, a leading provider of highly engineered protective, temperature-assured and retail security packaging solutions, from Metalmark Capital for $550 million in cash. The final consideration is subject to a normal adjustment of net working capital.

    According to Harris E. DeLoach, Jr., Sonoco chairman and chief executive officer, the acquisition of Tegrant is the largest in Sonoco's history and will create a North American leader in multimaterial protective packaging. Tegrant is projected to generate 2011 sales of approximately $440 million. When combined, Sonoco is projected to generate sales of approximately $5.0 billion in 2012. The transaction is expected to be accretive to Sonoco's 2012 pro forma earnings by approximately $.10 per diluted share, including estimated adjustments for purchase accounting and approximately $11 million of expected synergies, when fully realized.

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  • 10.10.2011

    International Paper Hall of Fame welcomes newest members

    APPLETON — Doing what's right for the planet also can be good for business, said John Williams, the president and chief executive officer of Domtar Corp.

     

    Williams gave the keynote address during Thursday induction of the newest members of the International Paper Hall of Fame, housed at the Paper Discovery Center in Appleton.

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  • 10.10.2011

    Sappi plans SA job cuts as part of restructuring

    APaper and packaging group Sappi will cut a “significant” number of jobs in South Africa as it restructures its operations to adapt to changing customer needs and to match its assets to profitable markets, the group announced on Friday.

     

    Sappi already closed the 47-year-old Adamas mill in Port Elizabeth and said it was implementing further cost reductions at both administrative and production levels.

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  • 10.10.2011

    Tembec sells already closed Pine Falls, Man. mill property and assets

    MONTREAL - Tembec has sold its shut down newsprint mill and property at Pine Falls, Man. to a private investment firm.

    Financial terms of the sale, announced Friday, were not disclosed.

     

    The buyer is NRI Global Inc., a Buffalo, N.Y. private company that specializes in dismantling industrial sites and manages assets throughout North America.

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  • 10.10.2011

    MWV Named to Dow Jones Sustainability World Index for Eighth Straight Year

    ICHMOND, Va., Oct 07, 2011 (BUSINESS WIRE) -- MeadWestvaco Corp today announced it is listed on the 2011 Dow Jones Sustainability World Index (DJSI World) for the eighth consecutive year. The DJSI World recognizes the world's leading companies in the areas of economic, environmental and social performance, and evaluates organizations based on their commitment to and success in integrating sustainability into core business objectives and performance. In addition to being among the 342 companies listed on the world index, the global packaging company was the only company in its category to be listed on the North American index.
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  • 10.07.2011

    New biomass plant to be built in Berlin, NH

    BERLIN, N.H.—Groundbreaking is getting under way for a new biomass power plant in a hard-pressed area of northern New Hampshire.

     

    A ceremony marking the start of construction by Cate Street Capital is scheduled for Thursday morning at the site of the $275 million plant. The Berlin property was formerly part of the Fraser Paper's pulp mill, which closed in 2006. The new plant's slated to generate power by late 2013.

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  • 10.07.2011

    Commercial Paper Market Falls Below $1 Trillion, Fed Says

    Oct. 6 (Bloomberg) -- The market for corporate borrowing through short-term IOUs fell below $1 trillion for the first time since Feb. 2 as investors cut holdings of bank debt on mounting concern Europe’s fiscal crisis is spreading.

     

    The seasonally adjusted amount of U.S. commercial paper outstanding dropped by $22.2 billion to $985.4 billion in the week ended Oct. 5, the 12th consecutive decrease, the Federal Reserve said today on its website. It’s the longest stretch of declines since the period ended Jan. 19 and the lowest level since the market touched $988.3 billion Jan. 26, according to Fed data compiled by Bloomberg.

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  • 10.07.2011

    Record-busting PACK EXPO shows off

    PACK EXPO Las Vegas 2011 was one for the record books. The event's square footage, exhibitors and attendees topped figures for the previous Las Vegas-based PACK EXPO in 2009 by double digits across the board. Thanks to the bustling activity, show attendees departed the Las Vegas Convention Center with a bright outlook of the packaging industry's future.
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  • 10.07.2011

    Packaging design tops agenda for live packaging debate as industry experts speak out

    The recent news that food labelling confuses people, coupled with plans announced this week by the government who are due to begin a public consultation before the end of the year on whether to introduce plain packaging for cigarettes, has added extra heat to a live packaging debate, which will be focusing on packaging design.

     

    The BIG Packaging debate will be taking place on the 6 October at 3.15pm, at the PACKAGING INNOVATIONS London Show, which is being held at The Business Design Centre, Islington London. Comments already being released by the panellists ahead of the debate, suggest emotions will run high.

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  • 10.06.2011

    Mattel Announces Sustainable Sourcing Principles

    Mattel, Inc., today announced the launch of new sustainable sourcing principles to guide the company's procurement of paper and wood fiber used in its packaging and products.

    Mattel's new principles focus on three fundamental steps to advance sustainability, including maximizing post-consumer recycled content, where possible; avoiding virgin fiber from controversial sources; and seeking to increase the percentage of fiber that is certified by a credible third party.

    "We are committed to advancing the use of sustainably sourced paper and wood fiber across our business, beginning with packaging," said Lisa Marie Bongiovanni, vice president corporate affairs at Mattel, who also oversees the company's sustainability initiatives. "In developing these sourcing principles and setting goals, we applied a thoughtful and rigorous approach in evaluating our supply chain and identifying meaningful opportunities for continuous improvement."

    Throughout the process to develop the sustainable sourcing principles, Mattel sought input from stakeholders throughout its supply chain and the environmental community. Earlier this year, Mattel directed its suppliers to exit known controversial sources.

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  • 10.05.2011

    Crude Oil Declines to One-Year Low as Investors Lose Confidence in Economy

    Oil fell to a one-year low for a third day in New York amid concern that fuel demand will drop as investors lose confidence in the U.S. and European economies. Brent settled below $100 for the first time since February.

    U.S. futures declined 2.5 percent after European policy makers indicated they may renegotiate terms of Greece’s bailout. Prices pared an intraday loss after Federal Reserve Chairman Ben S. Bernanke signaled he may not be finished with attempts to stimulate the economy and as Saudi Arabian security forces were wounded during unrest in the kingdom.

    “Fears of recession are driving us lower,” said Gene McGillian, an analyst and broker at Tradition Energy in Stamford, Connecticut. “Until we see some positive signals of the economic front, the market should move lower. We now have to find the next support level, which should be near $70.”

    Crude for November delivery decreased $1.94 to $75.67 a barrel on the New York Mercantile Exchange, the lowest settlement since Sept. 23, 2010. Futures have fallen 7.9 percent in the past three sessions.

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  • 10.05.2011

    API: Lower Fox Law Firm Ignores Facts In Blatant Attempt to Mislead Wisconsin Citizens

    A law firm representing one of the polluters in the Lower Fox River clean-up litigation has mischaracterized a decision made last week by Federal Judge William Griesbach, Appleton Papers Inc. (API) said today.

    “Menasha is not spending a dime to clean up the river, but they have no problem hiring lawyers to pretend the company has no responsibility for the pollution they created”
    API spokeswoman Katherine Querard said Judge Griesbach has not concluded litigation regarding the Lower Fox River clean-up and he did not place the $950 million clean-up burden solely upon the NCR Corp. and API.

    In a press release issued yesterday, the law firm of Hunnsucker Goodstein & Nelson PC -- defense counsel for the Menasha Corp. in the Lower Fox River litigation -- said that a September 30 ruling by Judge Griesbach effectively meant that all clean up costs must be borne by NCR and API.

    In fact, the ultimate financial liabilities to be apportioned among all the responsible parties – including Menasha – are still to be determined. Judge Griesbach issued a denial of a technical motion (concerning the right to appeal a partial judgment) and ruled that private parties can now press a claim for Natural Resource Damages under a certain section of CERCLA. The case continues on a schedule as determined by Judge Griesbach with trial set to resume in February.

    The Menasha Corp. is one of the companies identified by the US Government as a responsible party for polluting the Lower Fox River. The company has not spent one dollar repairing any damage to Wisconsin’s Natural Resources. The Federal and Wisconsin government agencies overseeing the clean-up effort continue to press parties to contribute to the cost of the clean-up.

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  • 10.05.2011

    Allen Press Wins Prestigious Printing Awards in 2011

    Allen Press, Inc., printer and publishing services provider, has won coveted awards in 2011in three prestigious regional and national printing competitions, where excellence in print quality as well as overall impact and degree of difficulty in technique are judged.

    PIA MidAmerica, the regional trade group of the Printing and Imaging Association, bestowed the “Best of Category” award for three publications, recognizing each in their category in the company’s division. The winning pieces were American Art 24:3, a University of Chicago Press publication for the Smithsonian American Art Museum, Orchids 79:7, a publication of the American Orchid Society and the Arabian Horse Times 2011 Calendar, from Arabian Horse Times, Inc. Allen Press’ accomplishments were honored at a banquet this spring in Kansas City.

    The company won two Gold Ink Awards, given by industry publications, Printing Impressions, Publishing Executive and Book Business.  A Bronze award was given for Gems & Gemology 46:4, a publication of the Gemological Institute of America and a Pewter award was received for Shadows of Minidoka, a retrospective of art and collections of artist Roger Shimomura and published by the Lawrence Art Center, Lawrence, Kansas.

    Sappi Fine Paper North America honored the company with a Bronze for its Printer of the Year Award for Gems & Gemology 46:4. Both Gems & Gemology and Shadows of Minidoka were printed on Sappi paper.  This competition received more than 2,100 entries in North America with only 54 garnering this prize, given in nine categories.

    These competitions, sponsored by printing and graphic arts industry magazines, graphic arts trade associations, and paper companies, offer printers an opportunity to show their best works alongside other printers, and all are judged by a panel of highly regarded print professionals.

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  • 10.05.2011

    ZenithOptimedia revises global ad forecast down to 3.6%

    ZenithOptimedia revised its global ad spending forecast to a 3.6% increase for the year, down from its July forecast of 4.1%, citing a slowdown in economic growth and recent market turmoil.

    ZenithOptimedia also revised its global ad spending forecast for next year down slightly to 5.3% growth, from its earlier forecast of 5.9% growth.

    In the U.S., ZenithOptimedia projected ad spending will grow 2.2% this year, a slight increase over its July forecast of 2.1% growth.

    “The slowdown in economic recovery in the developed markets, coupled with rising fears of a double-dip recession, have caused some advertisers to trim back budget increases planned for the end of 2011; but there has been no sign of the canceled campaigns and sharp budget cuts that signaled the beginning of the last advertising downturn in 2008,” ZenithOptimedia said in its report.

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  • 10.05.2011

    UPS Announces Global Forestry Initiative

    The UPS Foundation today announced a new environmental initiative with funding to help plant, protect and preserve trees in urban and rural areas in the United States and around the world.

    Nearly $2 million in new environmental grants will be distributed by the Foundation. UPS is collaborating with some of the world's leading environmental organizations to manage and preserve forests in the U.S., Belgium, Canada, Brazil and China. The company will provide both financial and employee volunteer support.

    "Preserving the world's forests is critical to reducing carbon, combating climate change and protecting the planet's atmosphere," said Ken Sternad, president of The UPS Foundation. "UPS long has sought to be part of the solution when it comes to the environment, and this combination of financial support and local UPS volunteers continues that commitment."

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  • 10.05.2011

    Discover U.S. Spending MonitorSM Consumer Confidence Falls to Near-Record Low as Spending Intentions Drop

    Lack of consumer confidence was prevalent in September as the Discover U.S. Spending MonitorSM dropped to its lowest level since February 2009.

    The Monitor, a 4-year-old daily poll tracking economic confidence and spending intentions of nearly 8,200 consumers throughout the month, recorded a 3.5 point drop to 77.0 percent. This is only 1.3 points higher than the record low reported in February 2009. The same report also found that 66 percent of consumers rated the economy as poor, up 2 points from last month, and just 1-point lower than the record-high of 67 percent in February 2009, amid the height of the recession.

    These September findings are a strong indicator that consumers across the board continue to have a deteriorating view on the economy, with 63 percent of Americans believing that economic conditions are worsening, a viewpoint relatively unchanged from last month when 64 percent said the same.

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  • 10.05.2011

    AbitibiBowater Announces Further Debt Reduction

    AbitibiBowater Inc. announced today that the Company would take advantage of its strong liquidity position to redeem an additional $85 million of its debt. The redemption will reduce AbitibiBowater's total debt to a face amount of approximately $586 million. This step is in addition to the approximately $270 million of debt the Company redeemed in June 2011.

    "Today's announcement underscores our commitment to reduce debt and the associated interest burden at every opportunity," stated Richard Garneau, President and Chief Executive Officer. "Debt reduction remains a key part of our strategy to decrease fixed costs and improve the Company's financial position and competitiveness."

    The Company will use available cash to carry out the redemption of $85 million in principal amount of its 10.25% senior secured notes due 2018, plus accrued and unpaid interest. The redemption is scheduled to occur on November 4, 2011, at a redemption price of 103%.

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  • 10.04.2011

    Kohl's Department Stores Anticipates Hiring More than 40,000 Associates for Holiday Season

    Kohl's Department Stores today announced it anticipates hiring more than 40,000 associates nationwide this holiday season, up approximately five percent from last year due to store growth in 2011. Kohl's is bringing on additional associates to provide shoppers with excellent customer service throughout the holiday season. Consistent with 2010 hiring levels, Kohl's anticipates hiring an average of 35 associates per store at its 1,127 stores in 49 states. In addition, the company anticipates hiring approximately 2,500 seasonal positions at distribution centers and more than 500 seasonal and full time credit operations positions.

    "Year-round, Kohl's provides a convenient shopping experience through our quality brands, great values and excellent customer service delivered by our associates," said John Worthington, Kohl's chief administrative officer. "To continue to deliver on our customer promise to expect great things, we're pleased to bring on more than 40,000 associates across the country this holiday season, following the thousands of jobs that were created this fall when we opened 30 new stores."

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  • 10.04.2011

    Magazines to Marketers: We'll Prove How Much We Lift Sales

    Can magazines prove that their ads make cash registers ring? In its latest attempt to prove its worth to marketers, Time Inc. will regularly gauge the retail sales results from advertising in its titles and on its websites.

    "There was a call for getting more solutions to advertisers so they could see their return on investment," said Stephanie George, exec VP and CMO at Time Inc., "so we're increasing our footprint in the research area."

    The program closely follows a move by rival Meredith Corp. to guarantee certain advertisers that major campaigns in its pages will actually increase sales by certain amounts. And Meredith's effort came soon after Time Inc. started guaranteeing some advertisers that their print campaigns will deliver results like ad recall among a certain number of readers. Some independent magazines have been making similar assurances since last year.

    Advertising in magazines still revolves around paid circulation, publishing's traditional, very rough proxy for ad effectiveness. But marketers' growing need to justify their spending, competition from digital media and the difficult economy are fueling increasing efforts to do better.

    That doesn't mean the new measures are perfect. They don't try to compare results, for example, across competing magazine publishers.

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  • 10.04.2011

    Suzano plans $536m biomass production plants in Brazil

    Suzano Energia Renovável has unveiled plans to spend about R$1bn ($536m) building biomass production plants in the Brazilian state of Maranhão.

    The company, a subsidiary of Brazilian pulp and paper group Suzano, has signed a letter of intent to construct the plants, which will produce wood pellets from eucalyptus.

    Suzano Energia Renovável says it is eyeing export markets for the biomass fuel, prompted by Europe’s aggressive targets and incentives to substitute fossil fuels with renewables.

    The first investment phase includes three pellet-production units, each with a capacity of one million tonnes, to be operational by 2014.

    The company plans to use eucalyptus with a higher concentration of lignin and reduced harvest cycles to increase productivity and cost efficiencies.

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  • 10.04.2011

    Oil Declines a Third Day as Goldman Sachs Cuts Forecast for Brent Crude

    Oil dropped for a third day in New York as investors speculated that fuel demand will falter amid slowing global growth and rising supplies. Goldman Sachs Group Inc. lowered its 2012 forecast for Brent crude.

    Futures slid as much as 2.2 percent after falling yesterday to the lowest settlement in more than a year. European leaders indicated that investors may have to take bigger losses than previously assumed on Greek debt, while Goldman Sachs cut its 2012 Brent forecast to $120 a barrel from $130. U.S. crude inventories climbed for a second week, an Energy Department report tomorrow may show. Libya aims to raise production to more than 500,000 barrels a day by the end of this month, according to the chairman of state-run National Oil Corp.

    “We are seeing continuing pressure across the commodities complex from these concerns about the global growth prospect,” said Michael McCarthy, a chief market strategist at CMC Markets Asia Pacific Pty Ltd. in Sydney. “The markets are universally bearish, and we’re looking for reasons to sell. The oil markets are being affected by that.”

    Crude for November delivery declined as much as $1.69 to $75.92 a barrel in electronic trading on the New York Mercantile Exchange and was at $77.16 at 5:10 p.m. Sydney time. The contract yesterday fell 2 percent to $77.61, the lowest close since Sept. 28, 2010. Prices are down 16 percent this year.

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  • 10.04.2011

    Boise Inc. to Acquire Hexacomb Protective Packaging Business of Pregis Corporation

    Boise Inc. today announced its board of directors has approved an agreement under which Boise will acquire the Hexacomb protective packaging business of Pregis Corporation. Boise expects the $125 million all-cash transaction to close by year end 2011 or early 2012.

    Hexacomb is a leader in kraft paper-based honeycomb protective packaging products and employs approximately 440 employees at 12 manufacturing facilities across six countries. In 2010, Hexacomb had revenues of $102 million and converted approximately 60,000 tons of containerboard.

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  • 10.04.2011

    Media deal values up through three quarters

    The value of M&A deals in the media, information, marketing and technology sectors increased 10%, to $35.3 billion, in the first three quarters of this year compared with the year-earlier period, according to figures released by Jordan, Edmiston Group, an investment bank.

    The marketing and interactive services category was the most active, with 212 deals in the first nine month of the year, up 18% over the year-earlier period. In the same time frame, the category also saw deal value surge 24% to $8.8 billion.

    B-to-b online media and technology saw an increase of 10%, to 54, the number of deals in that category; the value of those deals surged 294%, to $5.8 billion. The spike was driven by two large deals: eBay's acquisition of GSI Commerce for $2.4 billion and a $2.2 billion buyout by private equity firms KKR, Silver Lake and Technology Crossover Ventures.

    The number of b-to-b media deals dropped 67%, to 11, in the time period, while the value of those deal tumbled 92%, to $38.0 million. The exhibitions and conferences sector, however, showed some life, with the number of deals flat at 18 but the value up 242%, to $371 million, driven largely by Providence Equity Partners' $173.0 million acquisition of George Little Management.

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  • 10.04.2011

    Direct marketing spending to hit $163 billion in 2011: DMA 2011

    Marketers will spend $163 billion on direct marketing in 2011, a 5.6% increase compared with last year, according to a report released by the Direct Marketing Association (DMA) on Oct. 2. The report also found that direct marketing accounts for 52.1% of total U.S. ad spending.

    The DMA projected that direct marketing ROI will reach $12.03 of sales per dollar of expenditures in 2011.

    Next year, digital marketing's share of marketing budgets will increase by two percentage points to 21%, according to the DMA. Of the various direct marketing channels, mobile is forecast to experience the most growth over the next year, rising by 38.7% to $1.2 billion. By contrast, direct-response magazine, radio and newspaper spending are all expected to decrease over the next year, with direct-response newspaper advertising predicted to decline by 9.9% to $7.0 billion.

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  • 10.04.2011

    Printgraphics, Inc. Acquired by Ennis, Inc.

    Ennis, Inc., has acquired all of the stock of Printgraphics, Inc. as of October 1, 2011. Printgraphics has two locations, Vandalia, Ohio and Nevada, Iowa, both of which will continue producing their current products and services. Printgraphics has been a leading wholesale manufacturer of fully integrated document solutions for over 33 years and is now recognized as the 21st largest and 14th fastest growing company in our industry.

    Paul Curry, President of Printgraphics, will continue in his role and noted, "We are extremely pleased to announce that Printgraphics has become part of the Ennis family of companies effective October 1, 2011. Ennis is one of the largest and most highly successful printing resellers in the industry. The acquisition of Printgraphics by Ennis will ensure the continued growth of the company into the future by allowing us to take advantage of their vast network of suppliers and economic strength."

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  • 10.04.2011

    Nippon Daishowa Paperboard Linerboard and Corrugating Medium, and Specialty Board Price Revisions

    Nippon Daishowa Paperboard Co., Ltd. (President: Hironori Iwase) of the Nippon Paper Group has announced price revisions for linerboard and corrugating medium, and specialty board.
     
    1. Products subject to price revisions : Linerboard and corrugating medium, and specialty board (chipboard, core paperboard and gypsum board base paper, etc.)
     
    2. Markup : Minimum 10%
     
    3. Timing of implementation : From November 21, 2011 shipment
     
    4. Reason for implementation : Amid an upward trend in the price of raw materials and fuels, the Company has made sustained efforts to reduce costs. However, it has proven difficult to absorb all the cost increases through the Company's own efforts, and it was decided that there was no alternative but to pass a portion of the cost on to the product price.
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  • 10.04.2011

    Transcontinental continues its progression by strategically combining its digital and interactive marketing solutions operations

    On November 1, 2011, Transcontinental will implement a new operating structure in order to become more agile at meeting the multiplatform marketing communication needs of its customers. The operations of Transcontinental Media and Transcontinental Interactive will thus be combined into a single sector, "Transcontinental Media", with Natalie Larivière as president. Ms. Larivière has been a driving force in the development of Transcontinental's digital products and services since 2006. The sector will now be responsible for products and services in publishing, distribution, data analytics and management, as well as interactive marketing solutions (mobile, digital promotions, etc.) and digital media.

    The purpose of this key new stage in the advancement of Transcontinental's business plan is to better respond to the current needs of businesses who want to reach increasingly fragmented audiences.

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  • 10.04.2011

    Neenah Paper Announces CLASSIC(R) Papers Brand Refresh

    Many designers can attest - making a final paper selection is often overwhelming and time consuming. But Neenah Paper is proving that it doesn't have to be. The premium paper company updated and simplified the paper selection process by refreshing all four of its CLASSIC(R) Papers brands, including CLASSIC CREST(R), CLASSIC(R) Linen, CLASSIC COLUMNS(R) and CLASSIC(R) Laid Papers.

    Neenah's extensive customer focused research identified the increasing project demands falling on designers, making efficiency a top priority when choosing paper for print projects. Hence the newly updated CLASSIC brands provide a simplified platform of premium papers that are complete, consistent and compatible. The revision focuses on these key components:

    Ten common colors are now offered across all six paper finishes common to the four CLASSIC brands. These additions allow each brand to work seamlessly together to deliver countless design alternatives and combinations.
    Digital printing papers expanded across all finishes in the 10 common colors. This makes the CLASSIC Digital Papers the most expansive offering in the marketplace.
    Common green certifications across all four brands - FSC(R) certified, Green-e certified and made Carbon Neutral Plus. Recycled papers are made with a minimum of 30 and 100 percent post-consumer fiber, and are Green Seal(TM) Certified.
    Heavier cover weights featured across all 10 common colors.
    Two NEW finishes - Eggshell and Stipple - added to the popular CLASSIC CREST(R) brand.

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  • 10.03.2011

    Avery Dennison Publishes Its First Sustainability Report

    Avery Dennison Corporation today released its first Sustainability Report, Together We're Stronger, detailing the company's 2010 sustainability initiatives, performance and goals. The report, which conforms to Global Reporting Initiative guidelines, is available at: http://www.averydennison.com/avy/en_us/Sustainability.

    The report describes how Avery Dennison is working collaboratively to bring product, branding and information solutions to market that increase the sustainability of the industries it serves. "We are delivering on our promise to improve our footprint and work with suppliers, customers, end users and communities to help them become more sustainable," said Dean Scarborough, Avery Dennison chairman, president and CEO.

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  • 10.03.2011

    Bonnier Corporation Acquires Cycle World from Hearst Corporation

    Bonnier Corporation announced today the purchase of Cycle World magazine from Hearst Corporation. The announcement was made jointly by Terry Snow, CEO of Bonnier Corporation, and David Carey, president of Hearst Magazines. Financial terms were not disclosed.

    Cycle World — the No. 1 media brand in the motorcycle industry — joins Bonnier's impressive collection of top brands in the U.S. that include Popular Science, Parenting, Field & Stream and a number of special-interest active lifestyle titles.

    "With its very loyal audience of motorcycle enthusiasts, Cycle World will be a great addition to Bonnier's portfolio of special-interest magazines," Carey said. "We are pleased to be working with Terry and his team on this transaction."

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  • 10.03.2011

    Harte-Hanks Introduces The Demand Curve™

    Capitalizing on its expansive business-to-business (B-to-B) marketing services assets, Harte-Hanks, Inc. (NYSE:HHS), announced today commercial availability of a new insight-led marketing solution for domestic and global technology markets, The Demand Curve™. According to the company, The Demand Curve builds on four core areas of Harte-Hanks expertise within technology markets: professional and business marketing data management, content development, digital and social conversations, and sales and marketing funnel management – as well as the strategy and execution that flow from these areas of demand generation and sales closure.

    “Business-to-business marketing, particularly in the technology market, has complexities all its own, and Harte-Hanks has pursued solutions for organizations in this sector that I believe are truly innovative,” said Gary Skidmore, president, Harte-Hanks Direct Marketing. “In 2011, our focus on demand generation and content-driven marketing has culminated in the launch of The Demand Curve offering. Though we’ve only just announced this, we’ve lined up more than a dozen engagements among global and domestic B-to-B marketers in technology markets – each of whom are tapping different points of entry depending on their immediate need for expertise.”

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  • 10.03.2011

    St. Joseph Communications Debuts Self-Service Mobile Printing Kiosks

    With the proliferation of mobile devices in the marketplace, print is now shifting from a function being done at home and in the office to the mobile world. In response to this evolving trend, St. Joseph Communications, with support from HP and PrinterOn, has developed the world’s first self-service public pay kiosk offering consumers the ability to print directly from their smartphones and tablets.

    “More than 19 percent of the world’s cell phones are smartphones and this is expected to reach 50 per cent by Christmas,” says Tony Gagliano, executive chairman and CEO of St. Joseph Communications, Canada’s leading provider of marketing solutions and printing services. “With the introduction of the ePrintit Kiosk, hundreds of millions of smartphone users worldwide can now quickly and conveniently print out their documents on the fly.”

    The patent-pending ePrintit Kiosks allow consumers to print reports, presentations, photos, and more by downloading the HP ePrint service app to their smartphones. The Kiosks can also be securely emailed and can print from any memory device. They are equipped with St. Joseph’s proprietary developed monitoring software, a best-in-class HP color laser printer, a Citizen dye-sublimation photo printer, online video camera, and 42" digital signage. The Kiosks also provide a North America-wide directory of all restaurants, hotels, attractions, and theatres and will print out maps to the locations as well as general mapping and driving directions for any location.

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