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04.20.2012
Weekly magazine Back Stage is re-launching its print publication and website to better capture best practices for individuals actively seeking news, information and careers in the preforming-arts industries. In addition to its print re-launch, the company’s chairman announced that the group would be rolling out an updated version of its website; enhancing its live events portfolio and introducing a new publisher.
“The essential function of Back Stage is to help preforming artists get jobs and get educated about their careers,” says John Amato, chairman and CEO of Back Stage LLC. “We looked at this re-launch holistically and asked what are some of the best practices across all industries online right now for helping people get jobs and get educated. We asked what are some of the more functional utilities for print publications that are out there. We hired some of the best firms in the world and internally hired some of the best people out there to accomplish some of these goals. This whole strategy is really a refresh.”
In line with the relaunch, Charlie Weiss has been named vice president and publisher, joining the company from healthcare media company Intellisphere. Weiss replaces Jeff Black, formerly publisher and general manager. Additionally, the company has added personnel to focus on castings and community outreach.
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04.20.2012
As the only paper mill in North America dedicated to producing coated mechanical printing papers made from nearly 100 percent recycled materials, FutureMark Paper Company is in the enviable position of having just what customers want - environmentally-friendly products that meet high print-quality standards for magazines, books, catalogs and advertising flyers.
In fact, customer demand was so great that our one paper machine was hard pressed to keep up. We had to turn some customers away, which meant the company was essentially leaving money on the table.
To meet the growing demand for high-recycled printing paper, our plant in Alsip, Illinois, was under pressure to increase production. Investing in additional capacity was not in our budget; the mill had already invested more than $250 million on equipment and processes over the past decade. Instead, the production increase we sought would have to come from boosting our manufacturing efficiency.
In the summer of 2009, FutureMark Paper embarked on a program to improve the time efficiency of our paper machine, i.e., the amount of time we were actually able to make paper. This meant not only improving overall manufacturing performance, but also minimizing unscheduled machine downtime. At that time, FutureMark’s maintenance was almost totally reactive, as the workers went from one emergency situation to the next “putting out fires,” but never able to sustain planned maintenance for any prolonged period.
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04.20.2012
A report released Thursday by Bloomberg showed that household confidence improved last week to match the highest level in four years.
The Bloomberg Consumer Comfort Index was minus 31.4 in the period ended April 15, compared with minus 32.8 over the previous seven days. The reading equaled that from two weeks earlier as the best since March 2008.
Despite the strong showing, the monthly expectations measure fell from a one-year high, showing ongoing concerns that too many Americans are still unemployed.
“The uneven nature of the recovery will likely continue to restrain the type of improvement in consumer sentiment that one would traditionally observe at this point in the expansionary cycle,” said Joseph Brusuelas, a senior economist at Bloomberg LP in New York.
Jobless applications fell by 2,000 to 386,000 in the week ended April 14 from a revised 388,000 the prior period that was higher than initially estimated, Labor Department figures showed Thursday in Washington. The median forecast of 47 economists surveyed by Bloomberg News called for a drop to 370,000.
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04.20.2012
Kimberly-Clark Corporation today reported first quarter 2012 results and reconfirmed its previous guidance for full-year 2012 adjusted earnings per share.
Sales of $5.2 billion increased 4 percent compared with the first quarter of 2011. Organic sales rose 6 percent, with higher net selling prices of 3 percent, increased sales volumes of 2 percent and favorable product mix of 1 percent. Changes in foreign currency rates decreased sales by 1 percent and lost sales from exiting non-strategic products in conjunction with pulp and tissue restructuring actions reduced sales volumes by an additional 1 percent.
Operating profit was $700 million in the first quarter of 2012, up 29 percent from $544 million in 2011. Adjusted operating profit was $735 million in the first quarter of 2012, a 12 percent increase compared to $658 million in the year-ago period. Adjusted results in 2012 exclude $35 million of costs for pulp and tissue restructuring actions, while adjusted results in 2011 exclude $82 million of costs for pulp and tissue restructuring and a $32 million non-deductible charge due to a legislative change in the assessment of a business tax in Colombia.
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04.20.2012
Sales of books and magazines fell 9.2% at Books-A-Million, to $345 million, in the fiscal year ended January 28, according to figures in BAM’s 10-k filing with the Securities & Exchange Commission. Earlier this year, the country’s second largest bookstore chain reported a 3.6% decline in total revenue and the drop in book and magazine sales was offset by gains in all other categories.
The electronics, e-book and accessories segment had the largest increase with sales up approximately 133%. Sales of Nook devices and accessories as well as e-book content, however, rose to only $14 million, 3.1% of revenue compared to 1.2% in the prior year. Books and magazines comprised 73.7% of total sales in 2011, down from 78.1% in 2010. Sales of general merchandise (gifts, cards, games, toys, collectibles), rose by $6 million in the year, to $54 million, café sales increased by about $1 million to $21 million, and other merchandise (music, DVD, and other items), increased about 6%, to $34 million.
Despite adding 41 former Borders stores in the third and fourth quarter (which generated sales of $28.2 million), sales through BAM’s physical outlets fell 5.3% in the year, to $453 million, as comp sales dropped 9.5%. The company finished 2011 with 257 stores (204 superstores, 53 traditional stores), as the new store openings were offset in part by the closing of 26 stores (only five closings were in areas where it doesn’t expect new or existing stores to make up for shutting a store). Its e-commerce arm had a 17.6% sales increase, to $30 million led by e-books and devices. Sales of print books and other physical sales online, however, fell about 18% in the year.
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04.20.2012
The New York Times Company (NYSE: NYT) announced today 2012 first-quarter diluted earnings per share from continuing operations of $.09 compared with $.02 in the same period of 2011. Excluding severance and the special items discussed below, diluted earnings per share from continuing operations were $.08 in the first quarter of 2012 compared with zero cents in the first quarter of 2011.
The Company had an operating profit of $19.6 million in the first quarter of 2012 compared with $25.9 million in the same period of 2011. Excluding depreciation, amortization and severance, operating profit increased 9.4 percent to $57.2 million from $52.3 million in the first quarter of 2011.
"We continue to execute on our strategy and our improved results reflect the ongoing digital transformation of our Company," said Arthur Sulzberger, Jr., chairman and chief executive officer, The New York Times Company. "We expanded our digital subscription base and further developed a robust consumer revenue stream as demonstrated by the 10 percent increase in total Company circulation revenues, led by the 13 percent growth at The New York Times Media Group. Operating profit before depreciation, amortization and severance grew 9 percent in the first quarter.
"Paid subscriptions to all of the Company's digital packages, e-readers and replica editions totaled approximately 472,000 as of March 18, 2012. This confirms once again the validity of our digital strategy, which has provided a successful model for the industry. Our readers have embraced digital subscriptions and we expect to build on this strong start as we embark on our second year of digital paid subscriptions.
"At the same time, the uneven U.S. economic environment and uncertain global conditions continued to present challenges to the advertising marketplace. Print advertising revenue trends were similar to those in the fourth quarter of 2011, while digital advertising revenues at the News Media Group were under pressure in the first two months of the year, resulting in a decline of 2 percent for the first quarter.
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04.20.2012
Courier Corporation, one of America's leading book manufacturers and specialty publishers, today announced results for the quarter ended March 24, 2012, the second quarter of its 2012 fiscal year. Revenues were $62.4 million, down slightly from last year's second-quarter revenues of $62.7 million. However, the company's second-quarter net income of $440,000 or $.04 per diluted share represented an improvement over last year's second-quarter net loss of $4.8 million or $.40 per diluted share, which included restructuring costs associated with the closing of a plant in Stoughton, Massachusetts, and the write-down of $750,000 in receivables following the bankruptcy of Borders Group Inc. Excluding the restructuring costs and bad-debt provision, last year's second-quarter net income was $342,000 or $.03 per diluted share.
For the first six months of fiscal 2012, Courier revenues were $125.3 million, up from $123.8 million in fiscal 2011. Net income for the year to date was $1.9 million or $.16 per diluted share, including a first-quarter pretax charge of $1.5 million related to severance and post-retirement benefit costs and a first-quarter pretax gain of $0.6 million from the sale of certain non-operating assets. For the first six months of fiscal 2011, the company's net loss was $3.2 million or $.26 per diluted share, including the second-quarter restructuring costs and bad-debt provision. Excluding those items for both periods, net income for the first six months of fiscal 2012 was $2.5 million or $.21 per diluted share, compared to $2.0 million or $.17 per diluted share for the corresponding period last year. Details for these items can be found in the tables at the end of this release.
The second quarter of Courier's fiscal year has traditionally been its slowest, a phenomenon compounded by this year's unusually early quarterly close on March 24, in advance of traditional spring publishing promotions and normal seasonal increases in activity in the education market. In the company's book manufacturing segment, second-quarter sales were up in both the specialty trade and education markets, but off in the religious market against an exceptionally strong second quarter last year. For the year to date, book manufacturing sales were up in all three markets, with the largest gains in specialty trade. In Courier's publishing segment, second-quarter sales were up at Dover Publications but down elsewhere, while six-month sales remained down throughout the segment.
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04.20.2012
Sonoco, one of the largest diversified global packaging companies, today reported financial results for its 2012 first quarter, ending April 1, 2012.
Net sales for the first quarter were $1.21 billion, compared with $1.12 billion in the same period in 2011. This 8.5 percent increase was due primarily to $114 million in sales from the Tegrant acquisition and higher selling prices, partially offset by an $18 million negative impact of foreign currency translation.
Gross profits were $217 million in the first quarter of 2012, compared with $194 million in the same period in 2011. Gross profit as a percent of sales was 17.9 percent, compared with 17.4 percent in the same period in 2011. The improvement in gross profits was due to productivity improvements, a positive price/cost relationship, offset by lower volumes, a negative shift in the mix of business and higher labor and other costs. The Company’s selling, general and administrative (SG&A) expenses increased 20 percent year over year in the quarter, primarily due to added costs from the acquired Tegrant businesses. SG&A expenses were 10.1 percent of net sales in the 2012 period, compared with 9.1 percent in 2011.
Cash generated from operations in the first quarter was $101.0 million, compared with a use of cash of $13.8 million in the same period in 2011. First quarter 2012 cash flow reflects pension and postretirement benefit plan contributions of $50 million, compared with $98 million in the first quarter of 2011. Cash flow from operations also improved during the quarter due to a lower use of working capital and less management incentives paid in comparison to the same quarter last year. Capital expenditures and cash dividends were $48 million and $29 million, respectively, during the first quarter of 2012, compared with $38 million and $28 million, respectively, during the first quarter of 2011.
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04.20.2012
AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that Mercer International Inc. has withdrawn its application requesting an order to cease trade Resolute's offer to acquire Fibrek Inc. Mercer filed its application with the Bureau de décision et de révision (Québec) on March 29.
Yesterday the Company announced that the Supreme Court of Canada had refused to hear an appeal by Fibrek and Mercer of the Québec Court of Appeal's decision concerning Fibrek's special warrants. Accordingly, the order issued by the Bureau de décision et de révision (Québec) on February 23 is now final and non-appealable, and Fibrek's dilutive private placement of 32,320,000 special warrants to Mercer is definitively cease traded.
On April 11, Resolute acquired 60,831,859 Fibrek shares, representing approximately 46.8% of those currently outstanding, and announced that it had extended the expiry time for its offer in order to allow additional Fibrek shareholders to participate. The offer currently expires at 5:00 p.m. (Eastern time) on April 23, 2012.
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04.20.2012
Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced its results for the first quarter of 2012.
For the quarter ended March 31, 2012, the Company reported revenue of $160.1 million, up 14% compared to first quarter 2011 revenue of $140.1 million. First quarter 2012 non-GAAP net income was $14.2 million or $0.30 per diluted share, compared to non-GAAP net income of $13.5 million or $0.28 per diluted share for the same period in 2011. GAAP net income was $6.2 million or $0.13 per diluted share, compared to $6.2 million or $0.13 per diluted share for the same period in 2011.
"Our team delivered another great quarter, marking EFI's ninth consecutive quarter of double-digit revenue growth, along with record inkjet, software, and recurring revenues," said Guy Gecht, CEO of EFI. "We are very pleased with the solid execution in our seasonally low quarter and ahead of the industry's largest tradeshow. At drupa we are set to unveil some amazing new technology that enables our customers to transform their businesses to target the growth areas of print and optimize their operations."
For the second quarter of 2012, the company is expecting approximately 15% year-over-year revenue growth.
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04.20.2012
Consolidated Graphics announced the formation of a new joint venture with Asian printer Yamagata Corp. The investment comes as Consolidated Graphics experiences an increased focus on international growth to service its multinational corporation customer base.
Consolidated Graphics has held a strategic alliance with Yamagata since 2008, and recently deepened the relationship with a 51-percent ownership stake in the joint venture’s Gero, Japan operation.
As a result of the two companies’ combined investments, the new entity—CGX Yamagata Japan GK—offers one of the most advanced digital printing facilities in Asia. The Gero facility is integrated with Consolidated Graphics’ digital production infrastructure, and broadens the services Yamagata and CGX provide to the clientele the business serves.
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04.19.2012
Media General, Inc., a multimedia provider of broadcast television, digital media and print products, today reported $3.2 million of operating income for the first quarter of 2012 compared with an operating loss of $4.2 million in the 2011 first quarter, excluding a noncash impairment charge of $10 million in the current quarter to write-off the remaining goodwill and other intangible assets related to DealTaker.com.
“The operating improvement is primarily the result of increased profits at our Broadcast television stations, as they generated 12 percent revenue growth from increased Political revenues and higher retransmission fees. Broadcast platform cash flow margin increased from 25 percent last year to 32 percent this year. Print cash flow increased nearly 30 percent, as our newspapers offset revenue decreases with expense reductions and we realized a significant benefit from the reengineering we implemented at The Tampa Tribune in late 2011. Total company operating costs, excluding impairment, decreased 4.5 percent, as a result of our continued aggressive cost management,” said Marshall N. Morton, president and chief executive officer. “All of our geographic markets generated profit improvements over last year.”
Net loss in the first quarter of 2012 was $34 million, or $1.53 per share, compared with a net loss of $26 million, or $1.15 per share, in the 2011 first quarter. First-quarter 2012 results included debt modification costs of $10 million related to the amendment of the company’s bank credit facility, including legal, advisory and arrangement fees related to the refinancing. Interest expense in the first quarter of 2012 decreased 8.5 percent from last year.
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04.19.2012
The American Forest & Paper Association released its March 2012 Kraft Paper Sector Report today. Total Kraft paper shipments were 142.9 thousand tons, a decrease of 5.0% compared to March 2011. Total inventory was 80.5 thousand tons this month.
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04.19.2012
Brent oil rose in London as a debt sale by Spain bolstered confidence in Europe’s recovery, countering concern that rising U.S. inventories will leave the market over-supplied.
Brent climbed as much as 0.9 percent after Spain sold 2.54 billion euros ($3.3 billion) of bonds, just above the maximum target for the auction. U.S. supplies gained 3.9 million barrels last week, yesterday’s Energy Department data showed. The median forecast in a Bloomberg News survey of analysts was for an increase of 1.8 million barrels. Iraq’s deputy prime minister for energy said the Strait of Hormuz is unlikely to close and there is no shortage of oil.
“Market sentiment is better today, as equity markets and the euro advance on expectations the worst is over and most of negative news is priced in,” said Eugen Weinberg, head of commodities research at Commerzbank AG, who predicts U.S. crude prices will average $104 a barrel this quarter. “U.S. inventories increased beyond expectations on weak demand and high supplies.”
Brent oil for June settlement rose $1.08 to $119.05 a barrel on the London-based ICE Futures Europe exchange as of 10:53 a.m. London time. The European benchmark contract’s premium to West Texas Intermediate was at $15.46, up from $14.85 yesterday.
Crude for May delivery on the New York Mercantile Exchange was at $103.14 a barrel, up 47 cents. It slid 1.5 percent yesterday, the most since April 4. The more-actively traded June contract was up 47 cents at $103.59 a barrel.
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04.19.2012
The American Forest & Paper Association released its March 2012 U.S. Paperboard Report today. Total boxboard production decreased by 3.6% compared to March 2011, but increased 3.9% from last month.
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04.19.2012
Cascades is launching a food waste bag made of 100% recycled fibres. These paper bags, manufactured in Canada, consist of a double layer to prevent leakage. This bag completes its collection of ecological household products, including yard waste bags which came out last September. Cascades bags are not only compostable*, they are also EcoLogo-certified.
Since its beginnings, Cascades has been committed to the transformation of recycled materials as a means of waste reduction. The food waste bag was created to promote composting and encourage people to adopt this sustainable practice, keeping in mind Quebec's waste materials management policy to recycle 60% of organic matter by the year 2015. For those at Cascades, composting is a practise that, in addition to recycling, allows us to reduce the amount of waste that ends up in landfills.
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04.19.2012
Google introduced the Brand Activate Initiative, designed to promote an alternative way of measuring the audience for online media by implementing metrics similar to those used in television, said Neal Mohan, Google's VP of display advertising, at Ad Age Digital Conference in New York.
“Until now, the ubiquitous measures across the internet were impressions, clicks and conversions, which are useful, but brands care about audiences, reach and frequency, and they care about the exposure of their creative [work],” Mohan said.
As part of the Brand Activate Initiative, Google debuted two solutions: Active View and Active GRP.
Active View measures ads in terms of "viewed" impressions, defined by the Internet Advertising Bureau (IAB) as an ad that is 50% visible for at least one second. Active View takes into account whether an ad was delivered, the extent to which it was viewed, and the duration for which it was viewed.
The second product, Active GRP, is a metric designed to complement traditional advertising measurements by analyzing correlations between online video viewership, television viewership, and subsequent consumer activity.
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04.19.2012
Consolidated Graphics, Inc., one of North America's leading general commercial printing companies, today announced it is partnering with Blurb®, the creative publishing and marketing platform, to enable businesses to create custom publications from a simple yet powerful design-to-print workflow powered by Blurb.
The new service, named Publish, utilizes a free Adobe InDesign(TM) plug-in that allows businesses to extend the use of their preferred design software to become an end-to-end print workflow solution for high-quality publications. The plug-in includes templates for four cover formats, five paper types, and eight trim sizes -- including Blurb's all-new 8.5x11 size, which is exclusive to Publish. Publish also enables designers to complete their projects up to 75% faster using Blurb's custom proofing tools, automated pre-flight checks, and the ability to order via credit card from within the interface.
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04.19.2012
Online ad sales in the United States totaled $31.74 billion in 2011, up 21.9% from $26.04 billion in 2010, according to the Interactive Advertising Bureau’s Internet Advertising Revenue Report, released today. Last year was the first time online ad sales topped $30 billion. The trade group says the jump in spending from 2010 to 2011 marks a return to growth rates not seen since the 2006-2007 measurement period, before the economic recession.
Retail marketers accounted for the single largest chunk of online ad spending in 2011 when they spent $7.1 billion on online ads, 22.4% of the total. Retailers’ spending on web ads was up 29.1% from $5.5 billion in 2010, according to the IAB report, which is prepared by consulting firm PricewaterhouseCoopers from sales information provided by advertising companies and publicly available data.
Online advertisers spent $14.8 billion on paid search ads, accounting for approximately 46.6% of 2011 total online ad revenue. Spending on other ad formats, in descending order of total spending was display/banner ads, $6.8 billion and 21.4% of revenue; classifieds and directories, $2.6 billion and 8.2% of revenue; digital video, $1.8 billion and 5.7% of revenue; mobile, $1.6 billion and 5.0% of revenue; lead generation, $1.5 billion and 4.7% of revenue; rich media, $1.3 billion and 4.1% of revenue; sponsorship, $1.1 billion and 3.5% of revenue; and e-mail, $0.2 billion and 0.6% of revenue.
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04.19.2012
Mohawk has taken another bold step in the paper world by simplifying its portfolio of premium paper lines from 22 to six, reducing the number of SKUs in half and challenging the way paper is specified, with the release of a deceptively simple tool for paper specification. The New Mohawk product selector presents all Mohawk papers in one place and is the first in a wave of tools that Mohawk hopes will be paradigm-shifting.
Designed and engineered by Michael McGinn Design Office using the brand designed by Pentagram, the selector opens to three accordion fold charts, each containing several dozen oversize paper chips. Together, they organize Mohawk papers into three broad categories based on performance, character and value.
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04.19.2012
Crown Holdings, Inc. today announced its financial results for the first quarter ended March 31, 2012.
Net sales in the first quarter grew to $1,947 million over the $1,882 million in the first quarter of 2011, primarily driven by increased global beverage can sales unit volumes offset by $36 million from foreign currency translation.
First quarter gross profit was $287 million compared to $292 million in the 2011 first quarter, reflecting 2011 inventory holding gains that did not recur in 2012 and $4 million from unfavorable foreign currency translation, partially offset by increased global beverage can sales unit volumes.
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04.19.2012
AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that the Supreme Court of Canada has refused to hear an appeal by Fibrek Inc. and Mercer International Inc. of the Québec Court of Appeal's decision concerning Fibrek's special warrants. Accordingly, the order issued by the Bureau de décision et de révision (Québec) on February 23 is now final and non-appealable, and Fibrek's dilutive private placement of 32,320,000 special warrants to Mercer is definitively cease traded.
On April 11, Resolute acquired 60,831,859 Fibrek shares, representing approximately 46.8% of those currently outstanding, and announced that it had extended the expiry time for its offer in order to allow additional Fibrek shareholders to participate. The offer currently expires at 5:00 p.m. (Eastern time) on April 23, 2012.
The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the "SEDAR" website maintained by the Canadian Securities Administrators, as varied and extended.
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04.19.2012
After 1.9 percent growth in January, U.S. containerized exports surged in February, rising 9.6 percent year-over-year and 4 percent from the previous month. The total February volume — measured in 20-foot equivalent container units — was 1,014,176 TEUs, led by strong gains in paper and paperboard, building materials and refrigerated foods, and boosted by the depreciation of the U.S. dollar.
In terms of TEUs, paper and paperboard showed the greatest gains, but building materials grew by 280 percent over January, and frozen fish jumped 157 percent. Fabrics (including raw cotton) continue to decline, down 15 percent or 6,375 TEUs.
"The foreign exchange value of the U.S. dollar against a broad basket of currencies was down on January 31 by 2 percent over the value of Dec. 30, 2011," said Mario O. Moreno, economist for The Journal of Commerce/PIERS. "Manufacturing activity in China has been in contraction for four consecutive months, yet U.S. exports of key raw materials such as paper and paperboard and raw cotton increased sharply, suggesting factory output will rebound soon."
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04.19.2012
Worzalla, a print solutions provider serving publishers, announced a new digital short-run print capability that will enable customers to create new revenue streams by bringing out-of-print and backlist titles to the marketplace.
Worzalla is well-known in the publishing industry for its ability to produce award-winning and high profile books. With the introduction of this digital platform, the company is now capable of providing the same high quality for books in short-run quantities.
Worzalla’s entry into the digital short-run marketplace provides publishers with cost-effective solutions for keeping their backlist and out-of-print titles active. It has invested in two new presses—a four-color Kodak Nexpress and a monochrome Oce´ printer—as well as short run paperback and hardcase binding equipment.
The printer can now provide its customers a digital solution comparable to the high quality they have come to expect from traditional offset printing, as well as a hardcase binding option. This will include PUR adhesive hardcase and paperback books, as well as thin bulk side-sewn hardcase books.
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04.19.2012
The packaging operations held for sale are reported only as a separate line item in the income statement - Profit for the period from disposal group held for sale. Comments in this report are thus exclusive of the Packaging operations.
The divestment referred to in the report pertains to the formation of a joint venture in Australia/New Zealand through the sale of 50% of the shares and entailing a deconsolidation of the operations from the start of the year.
Net sales increased by 1% (4% excluding exchange rate effects and divestments) to SEK 19,490m (19,231)
Operating profit excluding items affecting comparability rose 4% (7% excluding divestments) to SEK 1,834m (1,767)
Items affecting comparability, restructuring costs, etc., amounted to SEK -150m (0)
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04.19.2012
Effective with all new and unconfirmed orders shipping on or after June 1, 2012, Evergreen Packaging is increasing the transaction prices for all publication grades by $3.00/cwt. This increase applies to all products including, but not limited to the brands listed below. TruSpec4; TruSpec4.5; TruSpec5; SC Papers.
All Grades, Basis Weights and Finishes are included. All standard upcharges will continue to apply.
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04.19.2012
The U.S. Postal Service today kicked off Earth Day events around the country highlighting ways the Postal Service strives to be leaner, greener, smarter and faster all year long.
“The Postal Service is in every community in every state and that gives us a responsibility to be good neighbors,” said Deputy Postmaster General Ronald A. Stroman in remarks to employees during the Earth Day observance. “That’s why we work so hard to save energy, recycle and reduce waste.”
The Postal Service saved more than $55 million dollars in fiscal year (FY) 2011 by reducing energy, water, consumables use and solid waste to landfills, conservation efforts encouraged by the Go Green Forever stamps. The Postal Service also recycled 215,000 tons of material, which generated $24 million in new revenue, for a total of $79 million.
“This year, the Postal Service is the only federal agency to respond corporate-wide to the Federal Green Challenge, a national campaign to reduce the government’s impact on the environment,” Stroman added.
As part of its culture of conservation, in FY 2011, the Postal Service reduced its carbon footprint and was the first government agency to win the Climate Registry Gold Status award for having lowered its greenhouse gas emissions by 8 percent.
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04.19.2012
Please be advised that Kruger will increase the transaction price on all coated paper grades by $2.00 per cwt.
This will be effective with shipments on, or after July 1, 2012, and will apply to all weights and brightness levels.
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04.19.2012
Northern Nova Scotia drew a sigh of relief Tuesday night after workers at the idled Point Tupper pulp and paper mill voted 85 per cent to accept a contract ultimatum from Pacific West Commercial Corp.
"Our members did a lot of soul-searching over the past couple of weeks," said union spokesman Steve MacDougall.
"Now that this is passed, I hope people realize that the mill workers are not a greedy bunch and that we have taken this responsibility seriously."
In approving the contract from the potential buyer for the former NewPage mill, workers swallowed hard. They accepted pay cuts and the loss of some seniority rights. They will also have their underfunded pension wrapped up and lose 250 positions from a workforce of 548.
Members of Local 972 of the Communications, Energy and Paperworkers union had said it was like negotiating with a gun to their head.
"We’re not particularly happy with this contract, but it is the best we can hammer out," said Archie MacLachlan, union vice-president, before the vote was announced.
On Sunday night, the executive recommended workers vote for the contract, warning that if Pacific West walked away, the plant would not open again. The two paper machines at the Point Tupper plant were idled in September after former owner NewPage Port Hawkesbury Corp. and its American parent company filed for creditor protection.
Pacific West plans to restart the newer Paper Machine 2, which produces high-gloss paper like that used in magazines, by early fall.
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04.18.2012
UPM has partnered with Monocle – a leading global affairs magazine – to produce the Monocle Helsinki City Survey.
Printed on UPM Fine, the Monocle Helsinki City Survey looks at everything from finance/business and logistics, to design/architecture, fashion, culture, aviation/transport, food/hospitality, retail and tourism. Monocle has produced the survey to provide its readers with engaging insight into Helsinki, the World Design Capital 2012.
Monocle editor–in-chief, Tyler Brûlé says “Helsinki is looking to turn ideas into real change. Key to this is a dynamic generation of doers. In each sector they are challenging the modus operandi. It’s these characters we’ve profiled in this city survey – they are the future of Helsinki”.
UPM papers were chosen for good experience in their high qualities both in terms of reproduction and finishing. Monocle always strives to create a unique tactile experience for their readers and the choice was another step in challenging and surprising the readers’ expectations.
“The criteria started with the ‘snap’ of the paper. In other words, how does it feel between forefinger and thumb and does it feel new within the context of the magazine? In both cases, the answer was a firm yes”, elaborates Tyler Brûlé.
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04.18.2012
The American Forest & Paper Association released its March 2012 U. S. Containerboard Statistics Report today. Containerboard production gained 2.5% over the same month last year. Production was up, gaining 7.7% compared to February 2012, however, the month over month average daily production increased just 0.7%. The containerboard operating rate for March 2012 gained 0.7 points over February 2012, increasing from 95.0% to 95.7%.
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04.18.2012
MeadWestvaco Corporation, a global leader in packaging and packaging solutions, announces that the U.S. District Court for the Eastern District of Virginia ruled in favor of MeadWestvaco Corporation on the key patent infringement claims in its lawsuit against competitors Rexam America and Valois of America. The Court found Rexam America and Valois of America directly infringed against MWV's U.S. patents for a fragrance dispensing system called the NoC(R) dip tube (patent numbers 7,718,132 and 7,722,819). This follows the Court's August 18 ruling that found MWV's U.S. patents on the NoC(R) dip tube valid and enforceable. The Court granted MWV's demand for injunctive relief against these competing companies, the terms of which will be framed by the Court at a later time.
Introduced in 2006, MWV's NoC(R) dip tube is the world's first invisible dip tube for luxury fragrances. The NoC(R) dip tube uses light-refractive technology to virtually disappear when it comes in contact with a fragrance solution. MWV has held exclusive U.S. patents on this technology since May 2010. More recently the company has been granted patents for the NoC(R) dip tube in Russia, Mexico, South Africa and an allowance status in China, with other patents pending in many other parts of the world. This product line is manufactured globally to support prestige fragrance brands around the world.
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04.18.2012
Vance Publishing Corp. is celebrating its 75th year in business serving the agribusiness, beauty, woodworking and home organization industries. In honor of the occasion, Vance (which includes brands such as The PACKER, Modern Salon, Drovers/CattleNetwork) has redesigned its corporate website and issued a “75th Anniversary” logo to be used throughout 2012 on all corporate products, including print publications, websites, e-newsletters, digital and electronic products, and research and information materials. A section of the Vance website also features Vance employees talking about their experiences.
ABM spoke with chairman Bill Vance about how the company’s mission has changed, and why b-to-b media remains more viable than ever even as the industry undergoes radical transformation.
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04.18.2012
Oil traded near the highest close in two weeks after the International Monetary Fund boosted its growth outlook and a Spanish debt sale raised more than planned, easing concern that an economic slowdown may curb crude demand.
Futures were little changed in New York after gaining for a second day yesterday. The IMF increased its 2012 global growth forecast to 3.5 percent from 3.3 percent and said oil will advance 10 percent this year on rising demand and possible supply disruptions. Spain sold 3.2 billion euros ($4.2 billion) of bills yesterday, compared with a maximum target of 3 billion. U.S. crude stockpiles climbed a fourth week, data from the industry-funded American Petroleum Institute showed.
“We received fairly optimistic news from IMF and the Spanish debt auction, so we expect the recent downside momentum in oil prices to falter, with potential for a correction higher,” Myrto Sokou, an analyst at London-based Sucden Financial Ltd., said in an e-mail today.
Crude for May delivery was at $104.31 a barrel, up 12 cents, in electronic trading on the New York Mercantile Exchange at 9:47 a.m. London time. The contract yesterday gained 1.2 percent to $104.20, the highest close since April 2.
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04.18.2012
In special ABM webinar hosted on April 11, USPS vice president of product information Jim Cochrane discussed the Postal Service’s plan to sunset its use of the POSTNET barcode in January 2013 and begin requiring use of Full-Service Intelligent Mail barcode (IMb) to qualify for automation discounts.
The use of IMb, plus investment in real-time scanners and other processing equipment puts the USPS on the path to offering customers real-time tracking data and allowing for corrective action before problems occur, according to Cochrane. “Tracking now stops at the processing plants,” he said. “We want real-time tracking at every level.”
By 2013, USPS will have real-time scanners installed and begin tracking delivery events based on GPS, including notice when periodicals have been delivered to mail boxes, said Cochrane. “This is one of biggest databases in the world, tracking millions of events.”
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04.18.2012
The Watermill Group, a strategy-driven private investment firm, received court approval today to acquire Manistique Papers, the only company in North America producing high-value uncoated printing and writing paper exclusively from 100-percent recycled fiber. The purchase agreement was finalized following an auction and confidential bidding process.
Manistique Papers enhances The Watermill Group's investment portfolio of environmental paper manufacturers, which also includes FutureMark Paper Company, the leading recycled coated paper producer in North America. With today's acquisition, The Watermill Group brings together leaders in 100-percent recycled paper in both the coated and uncoated markets and creates the most comprehensive line of recycled printing paper products in North America, representing nearly 300,000 tons of recycled paper per year.
Today's acquisition significantly expands The Watermill Group's footprint in sustainable paper manufacturing and positions the firm to deepen the value it delivers to Manistique's and FutureMark's customers, employees and investors.
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04.18.2012
The line between magazines and e-commerce continues to blur with the launch of a new home décor section of the web site of retailer HSN Inc., No. 26 in the Internet Retailer Top 500 Guide.
The web and TV retailer’s new House Beautiful Marketplace features items such as armchairs, table lamps, fringe pillows and area rugs that have earned the recommendations of House Beautiful editors. The interior decorating magazine—also called a ‘shelter’ publication—has a paid and verified circulation of 818,734, according to a December filing, and also operates the informational web site HouseBeautiful.com.
Besides the monthly product selections, the new HSN microsite, HSN.com/HBMarketplace, also will have what the retailer calls exclusive editorial content from the magazine’s editors, including decorating advice.
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04.18.2012
Through a combination of energy reduction initiatives and continued biomass and natural gas substitution for fuel oil, JDI’s Sawmill, Pulp and Paper, Transportation, and Cavendish Farms divisions reduced greenhouse gas emissions by 45,000 tonnes in 2011. Since 2007, oil consumption has been reduced by 156 million litres and greenhouse gas emissions cut by 346,000 tonnes annually - the equivalent of taking 66,500 cars off the road.
Sawmills Division: Oil use reduced by 21 million litres per year - a 92% reduction with three new biomass boilers - since 2010.
The associated greenhouse gas reduction equates to 11,500 cars being taken off the road.
70% of wood ash from biomass boilers diverted from landfills to beneficial uses such as agriculture and soil enrichment.
Pulp and Paper Division: Oil use reduced by 118 million litres per year, a 96% reduction.
Lake Utopia Paper’s new biomass boiler (Spring 2011) has reduced greenhouse gases by 20,000 tonnes per year, a 30% reduction from 2010 - equivalent to taking 3,800 cars off the road. Further reductions are expected in 2012.
Irving Paper in Saint John stopped using heavy fuel oil (2011) in favour of natural gas, resulting in the following reductions in air emissions: Greenhouse Gases: 18% reduction; SO2: 93% reduction; NOx: 16% reduction; Dust: 21% reduction.
Irving Paper was awarded Natural Resources Canada’s Conservation Leadership Award in the category of Employee Awareness and Training for excellence in energy efficiency awareness and management.
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04.18.2012
Bookstore sales fell 4.1% in February, to just over $1 billion, according to preliminary estimates released by the U.S. Census Bureau. As bookstore sales dropped, total retail sales rose 10.5% in the month. It was a year ago February that Borders filed for Chapter 11, something that began a period of declining sales at the chain until its going-out-of business sales began later in the year.
For the first two months of 2012, bookstore sales were down 1.9%, to $3.06 billion, while total retail sales rose 8.0%.
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04.18.2012
SCA acquires the remaining 50 percent in the Chilean hygiene company PISA (Papeles Industriales S.A.), and will after the transaction own 100 percent of the company. The purchase price is approximately 520 MSEK.
The turnover 2011 was approximately 780 MSEK. The company is primarily operating within tissue for consumers and Away-From-Home usage, which represents almost 70 and almost 30 percent of the turnover, respectively. In addition, incontinence care products under SCA’s global brand TENA have been introduced in Chile through PISA.
SCA entered PISA with a 50 percent ownership during 2003. After the acquisition announced today, which is expected to be closed end of April, PISA will be a fully-owned subsidiary to SCA.
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04.18.2012
Integrated Book Technology (IBT Global) has joined forces with Hamilton Printing of Castleton, NY. Terms of the deal were not disclosed. [IBT is ranked #243 with $19 million in sales on the 2011 Printing Impressions 400 ranking.]
The new company will operate under the name IBT/Hamilton moving forward and will have more than 160 employees with revenues approaching $30 million. The corporate headquarters and manufacturing facilities will remain in their current locations for the time being.
IBT’s digital offering will be enhanced by Hamilton’s web offset capabilities. When combined with IBT’s editorial, page composition and software, along with linking in book publishers’ administrative systems and warehouses, IBT/Hamilton will enable a customers to improve schedules and control inventory from quantities of 10,000 copies to one copy.
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04.18.2012
The U.S. Senate moved Tuesday to consider legislation that would fundamentally reshape the U.S. Postal Service as the struggling agency nears the end of a self-imposed moratorium on closing post offices and processing facilities.
Senators voted 74 to 22 to proceed to debate on the bill, with less than a month left until postal officials say they plan to begin closing hundreds of post offices and processing facilities. Congress requested that USPS wait to close facilities until mid-May so that lawmakers could pass legislation to help USPS save about $22.5 billion by 2016 by curtailing delivery services, closing facilities and offering buyouts to hundreds of thousands of workers.
The bill set for debate is co-sponsored by Sens. Joseph I. Lieberman (I-Conn.), Susan Collins (R-Maine), Tom Carper (D-Del.) and Scott Brown (R-Mass.) and would delay the Postal Service’s move to a five-day delivery schedule for at least two more years while requiring the agency to downsize, rather than close, most of the processing facilities it wants to close.
It also would permit USPS to deliver mail to curbside, sidewalk or centralized mailboxes instead of to front doors or mail slots, allow the service to ship beer, wine and spirits and to explore other sources of revenue. The Postal Service would have to continue overnight delivery of first-class mail, but limit it in some cases to shorter geographic distances.
Six-day delivery service would be scrapped only after the Government Accountability Office conducts a thorough study and determines that the Postal Service has no other way of cutting a considerable amount of operation costs.
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04.18.2012
Packaging Corporation of America today reported first quarter net income of $18 million, or $0.18 per share, which included a non-cash, after-tax charge of $23 million, or $0.24 per share, from an amendment to its 2009 federal income tax return related to biofuel tax credits. Excluding this charge, adjusted net income was a first quarter record $41 million, or $0.42 per share, compared to first quarter 2011 adjusted net income of $39 million, or $0.39 per share, which excludes a $2 million, or $0.02 per share, asset disposal charge.
The increase in adjusted net income was driven by higher containerboard and corrugated products volume ($0.09) and lower costs for energy ($0.04) and recycled fiber ($0.02). These items were partially offset by lower containerboard export prices ($0.03) and higher costs for depreciation ($0.03), transportation ($0.02), labor ($0.02), and interest expense ($0.02).
Net sales were a first quarter record $671 million, up 7% compared to first quarter 2011 net sales of $630 million.
Corrugated products shipments were up 8.3% compared to last year's first quarter, and outside sales of containerboard were essentially equal to last year. Containerboard production was 640,000 tons, up 38,000 tons over the first quarter of 2011. PCA ended the quarter with its containerboard inventories about 11,000 tons above year-end 2011 levels.
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04.17.2012
Grainger today reported record results for the 2012 first quarter ended March 31, 2012. Sales of $2.2 billion were up 16 percent versus $1.9 billion in the first quarter of 2011. There were 64 selling days in the quarter, the same as in 2011. Net earnings for the quarter increased 19 percent to $188 million versus $158 million in 2011. Earnings per share of $2.57 increased 18 percent versus $2.18 in 2011.
Sales in the 2012 first quarter increased 16 percent consisting of 10 percentage points from volume, 5 percentage points from acquisitions and 3 percentage points from price. This growth was partially offset by a 1 percentage point drag from lower sales of seasonal products due to milder weather across the United States and Canada and a 1 percentage point drag from foreign exchange. On a daily basis, sales increased 17 percent in January, 18 percent in February and 15 percent in March.
Company operating expenses in the quarter increased 18 percent driven primarily by expenses from Fabory, an incremental $27 million in spending to fund the company's growth programs, volume-related expenses and corporate support services costs.
Company operating earnings of $304 million for the 2012 first quarter increased 16 percent. This earnings growth was driven by higher sales and improved gross profit margins, partially offset by operating expenses, which grew at a faster rate than sales. The increase in the company's gross profit margin was driven by a number of factors that are addressed at the segment level. For the quarter, the Fabory business, which was acquired in August 2011 and represents less than 4 percent of total company sales, had a positive contribution to gross margin expansion, but resulted in an unfavorable mix on the company's operating margin.
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04.17.2012
Brown Printing will install the 20,000-copies-per-hour binder with 24 hopper positions and full in-line ink jetting and mailing auxiliaries at its facility in Waseca, MN, this spring.
“The new Goss binder will further expand the state-of-the-art print finishing capabilities—including advanced targeting, product personalization and co-mailing—that we deliver for catalog and publication customers,” explains Pat Bayer, engineering and IT director at Brown. “We have a strong record of productivity and efficiency with Goss Pacesetter and Universalbinder systems and recognize the advantages this technology provides for us and for our customers.”
Goss International will equip the new Universalbinder system with an HT20 trimmer, BS60 stacker and overhead gripper conveyors. Brown Printing will also add new Goss trimmers to existing Universalbinder lines at the facility to accommodate thicker products.
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04.17.2012
Ahlstrom, a global high performance materials company, will launch products for Transportation Air Filtration during the 11th World Filtration Congress in Graz, Austria.
Ahlstrom XAIR is a new portfolio of Automotive and Heavy Duty Air Filter media achieving exceptional efficiency in Soot filtration and Dust Holding Capacity having positive impact on engine lifetime, engine emission and fuel consumption.
The media can be processed in traditional high speed pleating machinery and is available with no curing, fast curing, flame retardant and water durable functionalities.
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04.17.2012
Ahlstrom, a global high performance materials company, will extend the range of release papers produced at its Jacareì plant in Brazil with the introduction of calendered Ahlstrom SILCA(TM) Soft grades.
The Pressure Sensitive-Adhesive (PSA) labelling market is estimated to grow approximately by 5-7% per year in Brazil and South America. By extending its release papers product range in Brazil, Ahlstrom aims at better serving the growing market needs and offering further local supply alternatives to imported glassine or supercalendered kraft release papers.Equipment modifications to enable larger production volumes are planned for August 2012.
In developing Ahlstrom SILCA(TM) Soft, the company relied on its broad expertise in the production of high quality release liners. This new calendered backing paper, particularly well adapted for labelstock applications, offers the required properties for secure siliconizing and reliable converting process. It complements the existing range of Ahlstrom SILCA(TM) calendered release papers manufactured in Europe and used by the PSA industry worldwide.
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04.17.2012
At the National Association of Broadcasters (NAB) conference, Adobe Systems Incorporated (Nasdaq:ADBE) today released a report showing increased viewer acceptance of TV-like ad experiences on the Web. The report found high audience engagement with ads during live online events and mid-roll commercial breaks and that users are the most actively engaged viewers when it comes to consuming video ads on tablets and smartphones.
Compiling data from the last six months of 2011, the semi-annual report was generated using an aggregated and anonymous sample of 2.5 billion ad impressions served via Adobe® Auditude®, Adobe’s video ad management and monetization platform and a key component of Adobe’s Project Primetime. The report shows that online video ad consumption is beginning to mirror that of traditional TV commercials, opening the door to greater revenue potential for media companies. Compared to data from the first six months of 2011, there has been an increase in the average number of video ads per content stream in professional, long form content and the record high completion rates for video ads.
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04.17.2012
The U.S. Postal Service, struggling to rein in its financial losses, is having a difficult time shedding operational expenses it no longer needs to carry, according to a report from the U.S. Government Accountability Office. According to the GAO report, the USPS has 461 processing centers but only needs 238, given the overall drop in mail volume as businesses and consumers increasingly switch to electronic forms of communication. There are about 8,000 processing machines but with mail capacity for only 5,000; and, out of 154,000 postal employees, there is work for just 119,000, according to the report. The USPS has saved $2.4 billion since in 2006 it undertook to cut overhead, but last month reported a loss of $1.1 billion for February, the fifth month of its fiscal year, raising its year-to-date losses to $5.6 billion.
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04.17.2012
Catalyst Paper announced today that meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies’ Creditors Arrangement Act have been changed from April 23, 2012 to May 2, 2012.
The rescheduled meetings will be held at the same location (Delta Vancouver Airport Hotel, 3500 Cessna Drive, Richmond, BC) at 10:00 am for unsecured creditors and 11:00 am for the First Lien Noteholders.
The court date to sanction and approve the plan of arrangement has also been rescheduled from April 25, 2012 to May 7, 2012.
The new dates were set to accommodate court scheduling issues with the original dates. The revised schedule will also provide court Monitor, PricewaterhouseCoopers Inc. and Catalyst additional time to complete the accounting review and verification requirements associated with the creditor claims process. Claims must still be filed with the Monitor by 5 p.m. April 18, 2012.
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