Paperclips Blog | Earnings Release Results

02.27.2012
Pearson 2011 Preliminary results

Financial performance: Sales up 6% at CER in spite of tough trading conditions in many markets. Adjusted operating profit up 12% to £942m with growth in all businesses. Adjusted EPS up 12% to 86.5p (headline growth). Cash conversion remains strong at 104%; operating cash flow of £983m (£1,057m in 2010, which benefited from an unusually high working capital contribution). Return on invested capital of 9.1%, above Pearson’s cost of capital; ROIC lower than in 2010 largely due to significant acquisition spend and higher cash tax.

Growth markets: Digital revenues up 18% in headline terms to £2bn, now 33% of Pearson’s sales. Substantial digital growth in all parts of Pearson including: Students using our digital learning programmes up 23% to 43m. Penguin eBook revenues up 106%; now 12% of total Penguin revenues. FT digital subscriptions up 29% to 267,000; approximately 44% of total paid circulation. Developing markets revenues up 24% in headline terms to $1bn ($834m in 2010), now 11% of Pearson’s sales.

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02.27.2012
Adobe Technology Powering Massive Growth in Digital Publishing

At Mobile World Congress, Adobe Systems Incorporated today announced that more than 16 million digital publications were powered by Adobe® Digital Publishing Suite across tablets over the last year. The company also released key insights about digital magazine and newspaper application usage, based on anonymous data aggregated from nearly 600 publishers worldwide who have created around 1,500 tablet publications using Adobe Digital Publishing Suite. In addition, Adobe announced new innovations that add more enterprise-class functionality and extensibility to the Digital Publishing Suite, helping organizations drive digital revenue and brand engagement through digital publications. Key enhancements include new in-app merchandising, provisioning of targeted content based on user role, and accelerated app creation.

The anonymous, aggregate data is derived from publications delivered using Adobe Digital Publishing Suite and shows shifts in reading patterns, willingness to pay for tablet applications, accelerated purchase funnel and advertising engagement. Tablets are driving new revenue for publishers as consumers pay for digital media content. Business publishers are also using tablet applications to drive awareness of their brands as well as the purchase of goods and services.

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02.27.2012
Sears will spin off some stores, sell others; reports 4th-quarter loss

Sears said Thursday that it’s unloading some of its profit-busting stores, but the retailer fell short of revealing how it plans to woo shoppers back into its remaining ones.

Investors have long speculated that the troubled retailer could sell off its massive real estate holdings to generate extra cash. But industry watchers say that will do little to solve Sears’ main problem: Rivals have been able to lure customers away from the chain because of its drab stores and unexciting merchandise.

“The image is atrocious. The stores are old and they’re run down. They don’t look like a nice place to visit,” said Ron Friedman, a partner in the retail and consumer products industry group of accounting firm Marcum, LLP in New York. “I don’t think that the Sears we see today can be around from a year today. It has to change.”

As part of a plan to turnaround the company, Sears Holdings Corp., based in Hoffman Estates, Ill., said on Thursday that it will spin off of its smaller Hometown and Outlet stores as well as some hardware stores in a deal expected to raise $400 million to $500 million.

In a separate deal, Sears will sell 11 stores to the real estate company General Growth Properties for $270 million. The company, led by billionaire investor Edward Lampert, also said it plans to cut inventory by $580 million.

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02.27.2012
Amcor Flexibles wins Gold and Silver at Annual Flexible Packaging Association Achievement Awards

Amcor Flexibles was the proud recipient of two awards at the Flexible Packaging Association's (FPA) Annual Achievement Awards held on 22 February 2012, in Scottsdale, Arizona. The FPA is the leading trade organization for flexible packaging converters and suppliers. The Annual Achievement Awards honor packaging and converting organizations that demonstrate breakthrough technologies, printing techniques, package structures, environmental advantages and new end-uses.

"Amcor is pleased to be recognized for these great packaging solutions," said Tom Cochran, Vice President and General Manager - Americas & Medical Europe, Amcor Flexibles Europe & Americas. "We are committed to innovation and to investing in the products, processes and services that meet our customers' unique needs," he added.

Amcor Flexibles received the Gold Award in the 'Technical Innovation' category for its Interior Tinted/Printed Formpack®, serving the prescription and OTC blister pack markets. "We work in partnership with our customers to respond to their needs with solutions that deliver the highest standards of product integrity and safety," said Art Castro, Vice President Sales & Marketing, Amcor Flexibles Europe & Americas.

Amcor's Interior Tinted/Printed Formpack® is a product extension of the coldform materials offered by Amcor. This product allows customers to package the full range of tablet colors without the downtime and scrap caused by false rejections. Moreover, blister packaging line efficiency is improved and overall costs are reduced. Amcor's product enables customers to use the tinted package without conducting new stability testing which results in faster product launches and speed to market.

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02.27.2012
Crude Futures Snap Longest Rally in Two Years as IMF Warns on Economy

Oil fell, halting its longest rally in two years, after a warning from the International Monetary Fund on the global economy sparked concern that prices have climbed too fast.

Futures slid as much as 1.4 percent in New York after seven days of gains. Oil’s relative strength index signaled that the longest winning streak since January 2010 may have been exaggerated. The world economy is “not out of the danger zone” amid fragile financial systems and rising oil prices, IMF Managing Director Christine Lagarde said yesterday. Prices gained the most in two months last week amid tensions with Iran, OPEC’s second-biggest producer.

“A correction is well overdue,” said Andrey Kryuchenkov, an analyst at VTB Capital in London who predicts that prices will hold at about current levels this week. Oil’s “relentless push higher could only be explained by pure supply-side fears.”

Oil for April delivery fell as much as $1.53 to $108.24 a barrel in electronic trading on the New York Mercantile Exchange and was at $108.37 at 11:10 a.m. London time. The contract gained 1.8 percent to $109.77 on Feb. 24, the highest close since May 3.

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02.27.2012
Book-A-Zines, Food and Guns Brighten Dark Newsstand

Hammered by the loss of Borders, recession and overall pressure on the print industry, newsstands sales declined in Q4 2011 10.2% in the U.S. market, according to MagNet. From its point-of-sale analysis, MagNet pegs sales for the last quarter of the year at $739.6 million, down $84.3 million from same period in 2010.

Despite overall declines, some categories are showing resilience in the food and wine segment, which was up 2.2% for the quarter, along with general interest books (+1.3%) and home titles (+1.2%). The celebrity weeklies, while still representing 23.3% of overall sales, continued to be under pressure, off 12.5% in the quarter, although MagNet says it sees some leveling of the decline in early 2012.

MagNet also calls out the surprising strength in gun titles, where both Guns Magazine and Garden & Guns had double-digit increases. Also strong were special issues and book-a-zine publications that often carried higher prices. Wenner Media saw a 1 million copy increase in its specials sales, which helped stem the red ink flow at newsstand for the company to a modest -1.7%. Wenner says that a highly popular retrospective special issue on Beatles albums contributes to that success. MagNet observes that U.S. and Canadian consumers seem willing to spend money on quality publications that appeal to their passions.

All sales outlets saw declines for Q4, led by Supercenters (-11.1%), Bookstores (-14.1%) after the demise of Borders, convenience stores (-14.9%) and general newsstands (-10.4%).

The rank order of leading publishers remained much the same since 2010, with Time, American Media and Bauer leading the pack in that order. But while almost all major publishers saw their newsstand sales decline for Q4, Canadian consumer and b2b firm Rogers Publishing was up 14.4% and Harris grew .9%.

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02.27.2012
Information and consultation process to discontinue Gohrsmühle mill’s unprofitable operations finalised

M-real Corporation, part of Metsä Group, has concluded the information and consultation process at the Gohrsmühle mill in Germany. In order to eliminate the severe losses of the mill, M-real started the negotiations with the workers’ representatives concerning the planned discontinuation of the mill’s uncoated fine paper and unprofitable speciality paper production. M-real released a stock exchange bulletin on 18 October 2011 concerning these plans.

Following the conclusion of the negotiations, M-real is able to make the final decisions to discontinue Gohrsmühle mill’s uncoated fine paper production and the production of the unprofitable speciality papers. As a result, M-real’s annual uncoated fine paper capacity reduces by approximately 120,000 tonnes and speciality paper capacity by 70,000 tonnes. The related personnel reduction of maximum 260 people will be implemented by the end of the second quarter of 2012. The level of redundancy costs is in line with the cost provisions made in the last quarter of 2011.

M-real continues the Chromolux business and is currently investigating possibilities to start up folding boxboard sheeting operations at the Gohrsmühle site.

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02.27.2012
Penton Media’s Technology Media Group Goes All-Digital

Penton Media’s Technology Media Group announced that, in response to audience and marketer demand, it is transforming all of its brands to all-digital beginning in May 2012.

“We conducted research amongst our audience and advertisers and found that they were really looking for an enhanced digital experience and were becoming less reliant on print magazines,” said Peg Miller, Penton technology market leader. “Remember that these are largely people who are IT professionals and developers and work in a digital environment. We listened to them, and are building very new and robust products that meet their needs.

“Market demand and audience engagement have increased for digital editions – we had double-digit gains in digital edition subscriptions in the past year,” she continued. “We’re finding that our audience prefers to learn about technology through multiple channels – whether it be printed words, videos, audio, screencasts and in-person events.”

Penton Technology Media Group brands include: Windows IT Pro, Paul Thurrott’s Windows SuperSite, SQL Server Pro, DevPro, System iNetwork, Power IT Pro, SharePoint Pro, DevConnections & WinConnections conferences, MSPmentor, Talkin’ Cloud and The VAR Guy.

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02.27.2012
Quad Expands Services to Rite Aid in New Multiyear, Multichannel Agreement

Quad/Graphics, Inc. will become the exclusive printer of retail inserts for Rite Aid Corporation under a new multiyear agreement that also includes producing digital online editions of Rite Aid’s weekly newspaper circular promotions. Quad/Graphics previously had been printing Rite Aid’s insert advertising for Eastern states, and effective April 1 will pick up all Western distribution as well for a 100% position. The agreement also includes additional page prep and related media workflow solutions, as well as the additional freight work to support nationwide distribution.

“Rite Aid is one of the leading drugstore retailers in America and has been one of our largest and most loyal customers,” said Joel Quadracci, Chairman, President & CEO of Quad/Graphics. “This new agreement confirms the value of our larger national platform combined with a company commitment to new media solutions that are more integrated, efficient and effective.”

Jim Pilsner, Rite Aid’s Vice President of Advertising, said Quad/Graphics’ technology and innovation provided a compelling business case for an expanded relationship. “Quad/Graphics will now be printing our inserts coast-to-coast, and also producing our digital online editions,” he said. “Our customers across the country will be able to access Rite Aid promotions in print, online and mobile channels, with complex Quad/Graphics geo-versioning ensuring they get the right content, in the right place at the right time.”

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02.27.2012
SCA Containerboard named best scoring company in WWF's Environmental Paper Company Index 2011

At SCA Containerboard we are extremely proud to be named the best scoring company in the Environmental Paper Company Index of WWF!

With so much focus and attention from media and public opinion, the risk, when it comes to environmental and social responsibility, is to promote the subject and forget the content; giving voice to empty words and disconnect actions from results.

At SCA Containerboard we have decided, a long time ago, to walk the talk of real sustainability, making it a key element of the validation of our offer; all our workforce is behind our strong ethical commitments towards this vital social aspect of doing business nowadays, the result is an uncompromised approach to carbon dioxide emissions, improved water usage, responsible use of wood raw material and code of Conduct compliance.

Our products are carrying the results of our hard work, expressing the relentless energies devoted in engaging our ethical commitments in offering environmentally-sound products, capable of continuously meeting Customers’ needs with respect to functionality, economy, safety, social and environmental impact.

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02.27.2012
ThermoSafe Brands Expands Certis® Packaging Line

ThermoSafe Brands, a business of Sonoco, is pleased to introduce Certis Silver, the latest offering in the Certis line of off-the-shelf packaging solutions for temperature-sensitive products. Designed to the ISCsilver™ Ambient Temperature Profile, Certis Silver packaging solutions offer reliable temperature assurance for moderate distribution environments.

The addition of Certis Silver effectively expands the Certis footprint to encompass a broad range of 2 C – 8 C applications. Certis Gold solutions, which are based on the rigorous ISCgold™ Ambient Temperature Profile, were developed to maintain the same strict temperature control seen with Certis Silver, but under more volatile shipping and storing conditions.

“ThermoSafe Brands has leveraged the elegant Certis design platform, expanding the product line to meet the global needs of customers with less stringent temperature profile requirements,” said D’Arcy Ryan, director of Marketing for ThermoSafe Brands. “Certis Silver offers quick-to-market and cost-effective solutions in the refrigerated temperature range,” Ryan added.

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02.27.2012
Standard Register Reports Fourth Quarter and Full Year 2011 Financial Results

Standard Register today announced its financial results for the fourth quarter and full year 2011. The Company reported revenue of $161.4 million and a net loss of $95.5 million, or $3.28 per diluted share for the fourth quarter of 2011. The results compare to prior year fourth quarter revenue of $172.7 million and a net profit of $1.5 million, or $0.05 per diluted share. Non-GAAP net income, adjusted for pension loss amortization, restructuring charges and the deferred tax allowance, was $0.9 million, or $0.03 per diluted share, for the fourth quarter of 2011 as compared to $4.9 million, or $0.18 per diluted share, for the same period in 2010.

For the full year 2011, the Company reported revenue of $648.1 million and a net loss of $87.7 million, or $3.02 per diluted share. The annual results compare to prior year revenue of $668.4 million and a net profit of $0.4 million, or $0.01 per diluted share. Non-GAAP net income, adjusted for pension loss amortization and settlement, restructuring charges, the deferred tax valuation allowance, and post-retirement termination benefits, was $7.7 million for the full year, or $0.26 per diluted share as compared to $13.2 million, or $0.46 per diluted share, in 2010.

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02.27.2012
The Washington Post Company Reports 2011 and Fourth Quarter Earnings

The Washington Post Company today reported net income attributable to common shares of $116.2 million ($14.70 per share) for the fiscal year ended December 31, 2011, compared to net income attributable to common shares of $277.2 million ($31.04 per share) for the fiscal year ended January 2, 2011. Net income includes $4.2 million ($0.53 per share) and $42.1 million ($4.71 per share) in losses from discontinued operations for fiscal year 2011 and 2010, respectively. Income from continuing operations attributable to common shares was $120.4 million ($15.23 per share) for fiscal year 2011, compared to $319.3 million ($35.75 per share) for fiscal year 2010. As a result of the Company’s share repurchases, there were 11% fewer diluted average shares outstanding in 2011.

For the fourth quarter of 2011, the Company reported net income attributable to common shares of $61.7 million ($8.03 per share), compared to net income attributable to common shares of $79.0 million ($9.42 per share) for the same period of 2010. Net income includes $1.6 million ($0.21 per share) and $0.8 million ($0.10 per share) in income from discontinued operations for the fourth quarter of fiscal year 2011 and 2010, respectively. Income from continuing operations attributable to common shares was $60.1 million ($7.82 per share) for the fourth quarter of fiscal year 2011, compared to $78.1 million ($9.32 per share) for the same period of 2010.

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02.24.2012
J. C. Penney Company, Inc. Reports 2011 Fourth Quarter and Full-Year Financial Results

J. C. Penney Company, Inc. today announced fourth quarter results consistent with the Company's most recent guidance. For the fourth quarter ended Jan. 28, 2012, jcpenney reported a net loss of $87 million, or $0.41 per share. As previously announced, this reported loss includes restructuring and management transition charges which totaled $0.56 per share, as well as the financial impact of actions taken to execute the Company's new pricing and promotional strategy, which lowered fourth quarter earnings by an additional $0.59 per share. The Company took these strategic actions in the fourth quarter of 2011 to position jcpenney to begin operating under the new, simplified strategy on Feb. 1, 2012 – the first day of its transformation.

Comparable store sales for the fourth quarter declined 1.8 percent. Total sales decreased 4.9 percent, reflecting the Company's previous exit from its catalog and catalog outlet businesses. Internet sales through jcp.com were $480 million in the fourth quarter, decreasing 3.1 percent from last year.

Gross margin decreased $506 million compared with last year's fourth quarter. As a percent of sales, gross margin in the fourth quarter decreased approximately 740 basis points to 30.2 percent, compared to 37.6 percent in the same period last year.

For 2011, comparable store sales increased 0.2 percent. Total sales decreased 2.8 percent for the year. Internet sales through jcp.com remained essentially flat at $1.5 billion.

For the year, the Company's gross margin decreased $742 million from last year. As a percent of sales, gross margin decreased 320 basis points to 36.0 percent when compared to last year. For the year, SG&A dollars decreased $249 million or 4.6 percent.

The Company reported an operating loss for the full year of $2 million, which includes $451 million of restructuring and management transition charges. Excluding restructuring and management transition charges and the non-cash qualified pension plan expense of $87 million for the year; adjusted operating income was $536 million.

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02.24.2012
Resolute Announces That Fibrek's Special Warrants To Mercer Have Been Cease Traded

AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that the Bureau de décision et de révision (Québec) has accepted, with immediate effect, the Company's application to cease trade Fibrek Inc.'s private placement of 32,320,000 special warrants to Mercer International Inc..

Resolute also announced today that it has extended to March 9, 2012 the expiry date for its offer to acquire all the issued and outstanding common shares of Fibrek. 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 Canadian Securities Administrators' website ("SEDAR"), as varied and extended. The offer will expire at 5:00 p.m. (Eastern Standard Time) on March 9, 2012, unless it is extended or withdrawn by Resolute.

Resolute continues to work diligently to obtain all required approvals from the Canadian regulatory authorities. As of the close of business on February 23, 2012 approximately 67 million common shares of Fibrek had been deposited to Resolute's offer, representing approximately 51.5% of the outstanding common shares.

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02.24.2012
Gap Inc. Reports Fourth Quarter and Full Year Results for Fiscal Year 2011

Gap Inc. today reported fourth quarter and full year results for fiscal year 2011 and provided commentary on 2012.

For the fourth quarter of fiscal year 2011, which ended January 28, 2012, the company reported net income of $218 million, or $0.44 per share on a diluted basis. This compares with net income of $365 million, or $0.60 per share on a diluted basis, in the same period last year.

Fourth quarter net sales were $4.3 billion compared with $4.4 billion for the fourth quarter of last year. The company’s fourth quarter comparable sales, which include the associated comparable online sales, were down 4 percent compared with a 1 percent increase in the fourth quarter last year.

For fiscal year 2011, which ended January 28, 2012, the company reported net income of $833 million, or $1.56 per share on a diluted basis -- a decrease of 17 percent compared with last year. This compares with net income of $1.2 billion in the same period last year.

Net sales for fiscal year 2011 were $14.5 billion, a decrease of 1 percent compared with net sales of $14.7 billion last year. The company’s fiscal year 2011 comparable sales, which include the associated comparable online sales, were down 4 percent compared with a 2 percent increase last year.

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02.24.2012
Oil Rises a Seventh Day in New York in Longest-Winning Streak Since 2010

Oil advanced a seventh day, the longest winning streak since January 2010, on signs of economic recovery from the U.S. to Germany and concern escalating tension with Iran threatens crude supplies.

Futures climbed from the highest close in more than nine months and headed for a third weekly gain. U.S. jobless claims held at the fewest since March 2008, while South Korean consumer confidence increased to the highest level in three months and Germany’s gross domestic product grew 1.5 percent from a year ago, an eighth quarter of expansion. Oil may rise next week as sanctions on Iran tighten, according to a Bloomberg News survey.

“Downside risks from a complete macroeconomic meltdown are receding fast,” said Paul Horsnell, London-based head of commodities research at Barclays Plc. “However, geopolitical risks are on the rise, with the escalating tension about Iran manifesting itself in a series of proxy wars.”

Oil for April delivery increased as much as 0.8 percent to $108.70 a barrel in electronic trading on the New York Mercantile Exchange and was at $108.40 at 12:05 p.m. London time. The contract yesterday gained 1.5 percent to $107.83, the highest close since May 4. Prices are 5 percent higher this week and up 11 percent the past year.

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02.24.2012
Crown to Build New Beverage Can Plant in Central Vietnam

Crown Holdings, Inc., a leading supplier of metal packaging products worldwide, announced today that it will build a new beverage can plant in Danang, a major port city in central Vietnam. The new plant is expected to be operational in the second quarter of 2013 and will have an initial annual production capacity of 750 million two-piece 33cl cans.

"Vietnam's growing middle class is driving increased demand for beverage cans," said Jozef Salaerts, President of CROWN Asia-Pacific. "Our new facility in Danang, supported by a long term contract with a major brewer, further extends our strong geographical footprint and ensures we can continue to support our customers with the innovative packaging that consumers prefer."

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02.24.2012
Flint Group announces FlexiStar™ Confectionery, the next generation of solvent-based packaging inks for the North American Flexo Confectionery Market

FlexiStar™ Confectionery provides excellent printability, superior adhesion, and resistance properties with and without a cold seal release overprint lacquer - this ink system is designed for surface and reverse print applications.

“Confectionery package printing is all about shelf appeal and constant innovation at a competitive price. FlexiStar™ Confectionery is based on these principals," says Grant Shouldice Product Director Film & Foil, Packaging and Narrow Web North America.

The confectionary printing market requires inks that print clean and clear, are easy to use, and come with a competitive price point. FlexiStar™ Confectionary combines the key attributes required by this market.

FlexiStar™ Confectionary provides excellent adhesion to a wide range of substrates. Flint Group realizes that printers in this segment are investigating many new film technologies; FlexiStar™ Confectionery has been successfully tested on a wide range of new and existing films with multiple cold seal release lacquers and cohesives.

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02.24.2012
Hearst Digital Media Expands ELLE Partnership with Style Coalition

In addition to a new portfolio of magazines, Hearst also inherited ELLE’s partnership with the Style Coalition blog network during its 2011 Hachette acquisition. Hearst Digital Media will expand this partnership to include Hearst’s 28 digital properties; its ad team will also sell Style Coalition [SC] display advertising, in addition to using SC resources to create custom programs for marketing clients.

Style Coalition, led by founder Yuli Ziv, joined forces with ELLE in 2010. Since then, SC’s 40 bloggers have helped create custom programs for brands such as Lancome, Dolce & Gabbana and Gap.

Laura Schooling, director of marketing at Hearst Digital Media, says of the growing partnership with SC, “In the same way we can expand our scale across their network of quality bloggers, we can tap into the 40 bloggers to create custom content that lives on the blogs. We can also fold the content into other editorial properties and leverage for advertisers.”

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02.24.2012
Industry Leaders to Explore Unification

At a meeting held prior to the Vision 3 conference a group of industry leaders convened to explore opportunities to unify NAPL and PIA. This action was taken for several reasons: the economic conditions of the past several years, the ongoing contraction of the industry and a response to calls for action from membership and suppliers. After a full day of very productive and open discussion, the group was able to reach unanimous consensus to move forward with a plan and process to address the above issues which will greatly benefit members of the groups as well as the industry in general.

A special task force has been formed consisting of representatives from both NAPL and PIA which will collaborate and move forward with a unification process. The boards of each organization have passed resolutions supporting the process, and empowering the task force to take the steps to create a new single entity. Joe Truncale and Michael Makin, the CEOs of each organization have expressed their full support of these efforts.

The unification process is expected to take several months to reach completion. Members of each Association are encouraged to continue to support their respective Associations.

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02.24.2012
NewPage Extends Futura and Productolith Pts. Digital Paper Lines to Meet Needs of Growing Digital Printing Technology

NewPage Corporation announced today extensions to its Futura® and Productolith Pts. Digital® paper lines.

The Productolith Pts. Digital offering now includes 14 pt. semi-gloss coated two sides (C2S). Currently, the Productolith Pts. Digital product line consists of 10, 12, 14 pt. coated one side (C1S) and 10, 12 pt. C2S. With the addition of 14 pt. C2S, digital print providers now have a great heavyweight solution for a variety of applications including packaging, direct mail, book covers and business cards.

In addition, NewPage is the first paper company to add a 26 x 14 size to its Futura gloss text and cover standard sheet offering. Futura is a premium coated digital line with a patented coated surface that provides exceptional runnability and printability on digital equipment. With growing installations of next generation Xerox iGen and Kodak NexPress equipment, digital customers have been asking for a 26 x 14 size for better pressroom efficiency.

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02.24.2012
Appleton and Domtar Announce Historic Supply Agreement

Appleton and Domtar Corporation today announced a tentative agreement in which Domtar would supply Appleton with most of the uncoated base paper the company needs to produce its thermal, carbonless, and other specialty paper products. The historic 15-year supply deal is valued at more than $3 billion over the life of the agreement. The deal would bring together Appleton, one of the world's leading specialty coaters, and Domtar, the largest integrated manufacturer of uncoated paper in North America.

The proposed supply agreement would provide Appleton with reliable access to competitively-priced, high-quality base paper for all its paper segments and reduce the company's exposure to unpredictable market costs for pulp and waste paper. Appleton would become more competitive with integrated paper companies. The proposed agreement would also enable Appleton to place greater focus on its core capabilities of coating formulations and applications, strengths on which the company was founded more than 100 years ago. Domtar would gain significant and predictable volume for its base paper business driven by demand in Appleton's growing global thermal paper business.

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02.24.2012
Twin Rivers Paper Company Expands Hybrid Paper Options

Twin Rivers Paper Company, a leader in lightweight specialty publishing, packaging, and label papers, has added 22lb and 24lb to its Border Brite grade line. Delivering the brightness of a freesheet and the opacity of a groundwood, Border Brite is ideal for reference books, bibles, catalogs, manuals and financial printing.

Launched in 2011, the Border Brite offering was engineered to bridge the gap between groundwood and freesheet papers since they provide a cost-effective alternative to freesheet. The addition of 22lb and 24lb broadens the basis weight range, creating more options for the customer.

“Whether it is freesheet or hybrid, we give our customers a broad range of basis weights and brightness levels to select the right paper for the job,” says Dave Deger, Director of Business Development and Marketing. “Our customers can always expect our papers to maximize printability, while delivering the opacity, bulk and strength needed to perform in the press room.”

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02.24.2012
Area Mail Processing study decision

In a move to help ensure the future of the nation’s mail system, while adapting to America’s changing mailing trends, the U.S. Postal Service today announced that the Area Mail Processing consolidation studies that began more than five months ago have been completed.

These changes are a necessary part of a larger comprehensive plan developed by the Postal Service to reduce operating costs by $20 billion by 2015 and return the organization to profitability.

The Postal Service is in the midst of a financial crisis due to the combined effects of the economic recession, increased use of electronic communications, and an obligation to prefund retiree health benefits. First-Class Mail volume has deteriorated, leading to significant revenue declines, and the obligation to prefund these retiree health benefits on an accelerated basis remains unresolved. To date, legislative proposals to address the financial crisis remain pending, leaving the Postal Service and the mailing industry it supports in an increasingly precarious position.

Since 2006, First-Class Mail volume has rapidly declined, leaving a mail mix that generates far less revenue than it costs to sustain postal operations. The dramatic decline in mail volume has resulted in an enormous amount of excess capacity within the network, creating significant opportunity for consolidation.

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02.23.2012
U.S. Containerboard Production in January Down 0.5% over January 2011 but up 1.5% from December

The American Forest & Paper Association released its January 2012 U. S. Containerboard Statistics Report today. Containerboard production was flat, losing less than one percent over the same month last year. The production was up, gaining 1.5% compared to December 2011. Since both December and January have 31 days, the month over month average daily production had a similar increased of 1.5%. The containerboard operating rate for January 2012 also gained 1.5 points over December 2011, increasing from 93.6% to 95.1%.

Additional key findings from the report include: Linerboard production fell slightly 0.9%; Medium production was flat (0.5%) over January 2011.
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02.23.2012
Angstrom Graphics Wins Six Package Design Awards

Angstrom Graphics Creative has received six award certificates at the 2012 American Package Design Awards, a national competition held annually by Graphic Design USA magazine. Chosen from among 1,600 entries, the designs were judged on their ability to “advance the brand promise and forge an emotional connection with the buyer at the moment of truth.”

The winning designs were part of a multi-media effort which also included product photography, catalog design and production, direct mail and digital marketing. Angstrom Graphics Print and Cross-Media Services interfaced with Creative to provide total turnkey services.

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02.23.2012
Oil Falls From Highest Close in Nine Months as U.S. Crude Stockpiles Rise

Oil dropped from a nine-month high in New York after a report showed stockpiles increased in the U.S., the world’s biggest consumer of crude.

Futures slid as much as 0.5 percent and were headed for the first decline in more than a week. U.S. inventories rose by 3.55 million (APISCRUD) barrels, the American Petroleum Institute said. A government report today may show they gained by 1.35 million barrels, according to a Bloomberg News survey of analysts. Crude’s relative strength index climbed above 70 yesterday, a sign prices may have risen too fast. The U.S. criticized the refusal of Iran, OPEC’s second-biggest crude producer, to let United Nations inspectors access a suspected nuclear base.

“Oil and gas demand in the U.S. has been muted for some time,” said David Lennox, an analyst at Fat Prophets in Sydney. The increase in New York crude “from $90 to where it sits now is probably supply-shock potential,” he said.

Crude for April delivery fell as much as 56 cents to $105.72 a barrel in electronic trading on the New York Mercantile Exchange and was at $106.19 at 4:14 p.m. Singapore time. The contract rose yesterday to $106.28, the highest close since May 4. Oil is up 2.9 percent this week on speculation that tensions with Iran over its nuclear program will threaten supplies.

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02.23.2012
Cascades reports Fourth quarter and Full Year 2011 results

Cascades Inc., a leader in the recovery and manufacturing of green packaging and tissue paper products, announces its unaudited financial results for the three-month period and the fiscal year ended December 31, 2011.
(All amounts in this press release are in Canadian dollars unless otherwise indicated)

Fiscal Year 2011 Strategic Highlights

Modernization measures: Construction kick-off for the new, state-of-the-art, Greenpac containerboard mill located in Niagara Falls (New York). Start-up of a new Atmos tissue machine to produce Premium and Ultra quality tissue papers. Modernization of the equipment at the Kingsey Falls moulded pulp mill, the Breakeyville and Auburn deink pulp mills, and the Winnipeg and Cobourg folding carton plants.

Restructuration measures: Divestiture of Dopaco for US$395 million, the Avot-Vallée white-top linerboard plant and the Versailles and Hebron boxboard facilities. Consolidation of corrugated box operations in New England. Closure of the Burnaby containerboard facility, the Leominster and Le Gardeur corrugated box facilities and of the East-Angus pulp mill.

Fiscal year highlights

Total sales increased by 14 % compared to 2010 (including the impact of acquisitions and divestitures). Total shipments up 15 % compared to 2010 (including the impact of acquisitions and divestitures). Net earnings per share including specific items of $1.03 compared to $0.43 in 2010. Net loss per share excluding specific items of $0.14 compared to net earnings of $0.83 in 2010. Operating income before depreciation and amortization (EBITDA) excluding specific items of $229 million compared to $310 million in 2010.

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02.23.2012
Cascades Continues to Consolidate its Operations

Cascades Inc., a leader in the recovery and the manufacturing of green packaging and tissue paper products, continues to consolidate its operations and announces the permanent closure of Cascades Enviropac, located in Toronto.

Production at this unit, specialized in the manufacturing of Technicomb™ honeycomb packaging, intended primarily for the furniture packaging industry, will progressively be redirected towards the Cascades Enviropac Berthierville, Québec and the Grand Rapids, Michigan plants. Approximately 36 employees will be affected by this closure which will be effective on June 1, 2012.

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02.23.2012
HP Reports First Quarter 2012 Results

HP today announced financial results for its first fiscal quarter ended January 31, 2012. For the quarter, net revenue of $30.0 billion was down 7% from the prior-year period, and down 8% when adjusted for the effects of currency.

GAAP diluted EPS was $0.73, down 38% from the prior-year period. Non-GAAP diluted EPS was $0.92, down 32% from the prior-year period. First quarter non-GAAP earnings information excludes after-tax costs of $364 million, or $0.19 per diluted share, related to amortization of purchased intangible assets, restructuring charges and acquisition-related charges.

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02.23.2012
Mondi Group Full Year Results

Highlights: Record financial performance; underlying operating profit up 36%; earnings per share – alternative measure up 57%; and return on capital employed of 15%, significantly in excess of through the cycle target of 13%; Excellent cash generation; net debt down 39% to €831 million; and free cash flow of 72 euro cents per share, up 72%; Significant contribution from Syktyvkar modernisation project; Successful demerger of Mpact, further focusing Group strategic priorities.
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02.23.2012
Nippon Paper Industries to Resume Operation of Paper Machine N5 at Ishinomaki Mill

Nippon Paper Industries Co., Ltd. has, as of today, resumed commercial operation of paper machine N5 at Ishinomaki Mill (Ishinomaki, Miyagi Prefecture), which sustained damage in the Great East Japan Earthquake.

As a result, three paper machines and one coating machine have been brought back into service at Ishinomaki Mill with the restart of paper machine 8 in September 2011, and paper machine N4 and coating machine 4 in November 2011. In addition, we have recovered approximately 45% of the total production capacity of about 850,000 tons, which is the total capacity of the fully restored Ishinomaki Mill.

On March 9, we plan to restart the flagship paper machine N6 in expectation of recovering 75% or more of total capacity.

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02.23.2012
OfficeMax Reports Fourth Quarter and Full Year 2011 Financial Results

OfficeMax® Incorporated, a leader in office supplies, technology and services, today announced the results for its fiscal fourth quarter and full year ended December 31, 2011. Total sales were $1,835.8 million in the fourth quarter of 2011, an increase of 3.9% from the fourth quarter of 2010, while total sales for the full year 2011 decreased 0.4% to $7,121.2 million compared to the full year 2010. For the fourth quarter of 2011, OfficeMax reported net income available to OfficeMax common shareholders of $2.9 million, or $0.03 per diluted share, compared to $12.1 million, or $0.14 per diluted share, in the fourth quarter of 2010. For the full year 2011, OfficeMax reported net income available to OfficeMax common shareholders of $32.8 million, or $0.38 per diluted share.

Results for the fourth quarter and the full year 2011 included one additional week of operation in the U.S. compared to fourth quarter and full year 2010. Total sales in the additional week were approximately $86 million, which resulted in incremental operating income of approximately $8 million and $.06 of earnings per diluted share to both the fourth quarter and full year 2011, generated primarily in the Retail Segment.

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02.23.2012
Graphic Packaging Holding Company Reports Fourth Quarter and Full Year 2011 Results

Graphic Packaging Holding Company, a leading provider of packaging solutions to food, beverage and other consumer products companies, today reported Net Income for fourth quarter 2011 of $265.6 million, or $0.67 per share, based upon 396.3 million weighted average diluted shares. This compares to fourth quarter 2010 Net Income of $19.6 million, or $0.06 per share, based upon 348.8 million weighted average diluted shares. Fourth quarter 2011 Net Income was positively impacted by the release of a $265.2 million tax valuation allowance. The valuation allowance release was based on the Company's assessment that it is more likely than not that the Company's U.S. federal and a substantial portion of its state deferred tax assets will be realized.

When adjusting for the $265.2 million tax valuation release and $6.6 million of other special charges, Adjusted Net Income for the fourth quarter of 2011 was $7.0 million, or $0.02 per diluted share. This compares to fourth quarter 2010 Adjusted Net Income of $20.6 million or $0.06 per diluted share. Due to the release of the tax valuation allowance, fourth quarter Adjusted Net Income was negatively impacted by the recognition of non-cash income tax expense attributable to the full year 2011. If the Company had used a normalized tax rate of 38.5% in the fourth quarters of 2011 and 2010, Adjusted Net Income would have been $24.4 million or $0.06 per diluted share in the fourth quarter of 2011, and $11.1 million or $0.03 per diluted share in the fourth quarter of 2010.

For the full year 2011, Net Income was $276.9 million, or $0.73 per diluted share, based on 381.7 million weighted average diluted shares. This compares to 2010 Net Income of $10.7 million or $0.03 per diluted share, based on 347.4 million weighted average diluted shares. Full year 2011 Adjusted Net Income was $100.7 million or $0.26 per diluted share, compared to full year 2010 Adjusted Net Income of $74.2 million, or $0.22 per diluted share.

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02.23.2012
Sappi Fine Paper North America Launches The Standard Vol. 5, Special Effects The Standard Vol. 5, Special Effects

Sappi Fine Paper North America announced today the release of The Standard Volume 5, a popular guide to designing for print. The latest volume focuses on how Special Effects can make the printed page offer a more dimensional, tactile and interactive experience for audiences. Uniquely inspirational, The Standard demonstrates how using printing techniques can serve as a creative tool to make images and editorial messages more powerful and impactful.

A virtual encyclopedia of special printing effects, The Standard 5 showcases a wide range of foils, emboss/deboss, engraving and thermography, a variety of coating and varnish techniques, strike-through, laser die-cuts, thermochromagraphy, lenticular, flocking, microencapsulated scents, phosphorescent UV coating, QR codes and augmented reality. Although the techniques may look like magic, many are straightforward methods for designers to incorporate and can be done inline on a conventional press.

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02.23.2012
Kohl's Corporation Reports Fourth Quarter and Fiscal 2011 Financial Results

Kohl's Corporation today reported results for the quarter and year ended January 28, 2012.

Fourth Quarter Results: Kohl's Corporation reported fourth quarter diluted earnings per share increased 9% to $1.81. Net income for the quarter decreased 8% to $455 million, compared to $494 million ($1.66 per diluted share) a year ago. Net sales were $6.0 billion, a decrease of 0.3 percent from the prior year quarter. Comparable store sales for the quarter decreased 2.1%.

Fiscal 2011 Results: For the year, diluted earnings per share increased 17% to $4.30 and net income increased 4% to $1,167 million. Net sales were $18.8 billion, an increase of 2.2%. Comparable store sales increased 0.5%.

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02.23.2012
The New York Times Launches Monthly Science Magazine in China

The New York Times announced today that it has launched, with Chinese publisher Shanghai Zhenwen Advertising Co., Ltd., Science Times China, a monthly magazine, written in Chinese and distributed in Beijing, Shanghai, Hong Kong and other populous cities of the People’s Republic of China.

Science Times China features articles, illustrations and photographs from the weekly Science Times sections of The New York Times, in addition to selected pieces on health, education and technology from The Times and NYTimes.com. The glossy magazine will also include some local Chinese content, which will be approved by The New York Times, which maintains editorial control over the publication.

The magazine launched with a circulation of 20,000 copies and costs $5.00 on newsstands. Science Times China will be available via subscription in the coming months.

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02.23.2012
Clearwater Paper Reports Fourth Quarter and Full Year 2011 Results

Clearwater Paper Corporation today reported financial results for the fourth quarter and full year of 2011.

The company reported net earnings of $11.5 million, or $0.48 per diluted share, for the fourth quarter of 2011, compared to net earnings of $37.8 million, or $1.60 per diluted share, for the fourth quarter of 2010. Excluding $1.8 million in after-tax charges related to the sale of our Lewiston, Idaho sawmill on November 28, 2011, fourth quarter 2011 net earnings were $13.3 million, or $0.55 per diluted common share. Fourth quarter 2010 results included $10.5 million in after-tax costs related to the Cellu Tissue acquisition and a $27.1 million benefit from a Cellulosic Biofuel Producer Credit. Excluding these items, fourth quarter 2010 net earnings would have been $21.2 million, or $0.90 per diluted common share.

Fourth quarter 2011 earnings before interest, taxes, depreciation and amortization, or EBITDA, was $52.2 million, compared to $34.6 million in the fourth quarter of 2010. Fourth quarter 2011 Adjusted EBITDA, which excludes $2.9 million in pre-tax adjustments associated with the sale of the sawmill, was $55.1 million. Fourth quarter 2010 Adjusted EBITDA, which excludes $17.2 million in pre-tax Cellu Tissue acquisition related expenses, was $51.9 million.

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02.23.2012
Limited Brands Announces 19 Percent Increase in Fourth Quarter Adjusted Earnings Per Share

Limited Brands, Inc. today reported 2011 fourth quarter and full-year results.

Fourth Quarter Results: Adjusted earnings per share for the fourth quarter ended Jan. 28, 2012, which exclude certain significant items as detailed below, increased 19 percent to $1.50 compared to $1.26 for the quarter ended Jan. 29, 2011. Fourth quarter adjusted operating income was $786.5 million compared to $713.5 million last year, and adjusted net income was $459.2 million compared to $419.7 million last year.

Including the significant items below, reported fourth quarter earnings per share were $1.17 compared to $1.36 last year; operating income was $641.1 million compared to $713.5 million last year; and net income was $359.4 million compared to $452.3 million last year.

The company reported a comparable store sales increase of 7 percent for the fourth quarter ended Jan. 28, 2012, compared to the fourth quarter ended Jan. 29, 2011. The company reported net sales of $3.515 billion for the fourth quarter ended Jan. 28, 2012, compared to sales of $3.456 billion last year.

Total sales were negatively impacted by the sale of our third party apparel sourcing business in the beginning of November 2011.

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02.22.2012
RR Donnelley Reports Fourth-Quarter and Full-Year 2011 Results

R.R. Donnelley & Sons Company today reported a fourth-quarter net loss attributable to common shareholders of $326.7 million, or $1.78 per diluted share, on net sales of $2.7 billion compared to net earnings of $27.0 million, or $0.13 per diluted share, on net sales of $2.7 billion in the fourth quarter of 2010. The fourth-quarter net loss attributable to common shareholders included pre-tax net charges totaling $483.9 million, primarily related to non-cash impairment, compared to pre-tax charges totaling $88.6 million, primarily related to restructuring and non-cash impairment in the fourth quarter of 2010.

Highlights:
• Full-year operating cash flow less capital expenditures of $695.4 million at high end of updated guidance range of $650 million to $700 million
• Year-end debt of $3.7 billion decreased by $278.7 million from the third quarter of 2011
• Fourth-quarter 2011 GAAP loss per diluted share of $1.78, compared to GAAP earnings per diluted share of $0.13 in the fourth quarter of 2010; GAAP results include non-cash impairment charges of $488.5 million, or $2.25 per diluted share, in the fourth quarter of 2011 and $61.5 million, or $0.29 per diluted share, in the fourth quarter of 2010
• Fourth-quarter 2011 non-GAAP earnings per diluted share of $0.46, compared to non-GAAP earnings per diluted share of $0.51 in the fourth quarter of 2010
• Full-year 2011 GAAP loss per diluted share of $0.63, compared to GAAP earnings per diluted share of $1.06 in 2010; GAAP results include non-cash impairment charges of $531.5 million, or $2.26 per diluted share, in 2011 and $92.5 million, or $0.40 per diluted share, in 2010

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02.22.2012
Total Printing-Writing Paper Shipments in January Down 3% from 2011

According to the American Forest & Paper Association’s January 2012 Printing-Writing Paper Report, total printing-writing paper shipments decreased 3% in January compared to January 2011. All four major printing-writing grades posted decreases compared to last January. U.S. purchases (shipments + imports – exports) of printing-writing papers decreased 8% in January. Total printing-writing paper inventory levels increased 1% compared to December 2011.

Some points of interest from the report include: Shipments of uncoated free sheet (UFS) decreased year-over-year one percent, but posted a five percent increase month-over-month. Shipments of coated free sheet (CFS) decreased year-over-year two percent, while purchases decreased by eleven percent. Coated mechanical (CM) shipments decreased five percent, which is the lowest year-over-year decrease since March 2011 when it increased. Uncoated mechanical (UM) shipments decreased by double-digit percentages for the eighth consecutive month, yet it is the lowest decrease in the stretch, only hitting ten percent by rounding.
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02.22.2012
Crude Falls From Nine-Month High in New York on Signs of Europe Slowdown

Oil fell from a nine-month high after a euro-area industry index unexpectedly declined, signaling a slowdown in demand and countering concern that a conflict between Iran and Western nations may disrupt supplies.

Futures slipped as much as 0.6 percent in New York, after climbing their highest since May as United Nations inspectors in Iran were denied access to a suspected nuclear-related military base. Equities declined and the euro erased gains against the dollar after an index based on a survey of euro-region purchasing managers dropped below 50, indicating a contraction.

The figures indicate that “euro-zone economies will remain very weak in the months ahead,” said Andy Sommer, a senior trader at EGL AG in Dietikon, Switzerland. “That means oil demand in the euro zone remains weak.”

Oil for April delivery on the New York Mercantile Exchange fell as much as 60 cents, or 0.6 percent, to $105.65 a barrel and was at $105.78 at 10:09 a.m. London time. The contract earlier rose to $106.41, the most since May 5.

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02.22.2012
Dirt Rag Wins 2012 Aveda Environmental Award for Magazines

Aveda and the Green America Better Paper Project named the winners of the 2012 Aveda Environmental Award for Magazines. Dirt Rag, a mountain biking magazine, earned this year’s top spot. Kansas City’s green living publication Greenability landed the runner-up nod, and GRIT completes the top trio as finalist.

The Environmental Award for Magazines debuted in 2005, recognizing the best in sustainable publishing practices in the consumer and b-to-b sectors. Last year, Mother Jones and Experience Life took home top honors.

Of this year’s winners, Better Paper Project director Frank Locantore said in a prepared press statement, “Despite the rise of the digital age, the world is using more paper than ever before. Dirt Rag, Greenability and GRIT are all examples of how we can make print more sustainable. They stand out in the magazine publishing industry, where only about two percent of U.S. publications regularly use recycled paper.”

Dirt Rag currently uses 90 percent recycled, Forest Stewardship Council Certified and Process Chlorine Free paper; the magazine also encourages its employees to bike to work.

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02.22.2012
Sales, Earnings Up at Quarto

With sales in both its co-edition and publishing divisions showing gains, revenue at Quarto Group rose 5.5% in 2011 to $186.1 million, the U.K.-based publisher reported. Adjusted pretax profits rose to $12.1 million from $11.5 million. The gains came despite only minor improvement in the U.S., which accounted for 55% of revenue. Sales in the U.S. rose 1%, to $82.8 million, as the acquisition Cool Springs Press (for $3 million) and sales of its Walter Foster imprint offset soft results in Quarto’s transportation and graphic design lists.

In breaking down results by segment, publishing sales rose 6%, to $123.6 million, helped by the Cool Springs purchase as well as that of the U.K.’s Frances Lincoln (for $7.3 million). E-book sales rose 500%, but at $2.1 million, comprise only a small portion of overall revenue. In his chairman’s statement, Laurence Orbach acknowledged that Quarto is moving cautiously in the e-book field, believing that the technology is not yet developed enough to allow Quarto to put its almost entirely nonfiction books into enhanced digital formats. " [Our] efforts to build both apps and e-books around the kind of content we create have not been well rewarded,” Orbach wrote. “This is not surprising, as they have not taken advantage of the benefits that the new tablet computers and e-readers now offer. At the moment, and seeking to take advantage of better and less cumbersome software authoring tools, more efforts are being made to create enhanced e-books. No doubt, some will turn out to be very fine, but it remains unclear whether there is a profitable commercial model lurking in all of the experimentation.”
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02.22.2012
Chico's FAS, Inc. Reports Fourth Quarter Earnings Per Share up 25% to $0.15

Chico's FAS, Inc. today announced its financial results for the fiscal 2011 fourth quarter and fiscal year ended January 28, 2012.

Net Income and Earnings per Share: For the fourth quarter, net income was $25.1 million, or $0.15 per diluted share, an earnings per share increase of 25% compared to net income of $20.7 million, or $0.12 per diluted share, for last year's fourth quarter.

For the fiscal year ended January 28, 2012, excluding non-recurring acquisition and integration costs, net income was $144.4 million, or $0.84 per diluted share, an earnings per share increase of 31% compared to net income of $115.4 million, or $0.64 per diluted share in fiscal 2010. For fiscal 2011, net income, including acquisition and integration costs, was $140.9 million, or $0.82 per diluted share.

Net Sales: For the fourth quarter, net sales were $569.2 million, an increase of 19.8% compared to $475.0 million in last year's fourth quarter. The increase reflects a comparable sales increase of 8.7%, an 8.7% increase in square footage and $28.5 million in sales for Boston Proper. The consolidated comparable sales increase of 8.7% for the fourth quarter was on top of a 4.5% increase for last year's fourth quarter, and reflects increases in both average dollar sale and transaction count. The Chico's/Soma Intimates brands' comparable sales increased 5.5% on top of a 4.4% increase in last year's fourth quarter and the White House | Black Market ("WH|BM") brand's comparable sales increased 15.4% on top of a 4.7% increase in last year's fourth quarter.

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02.22.2012
Franklin Dodd Communications Combines Two Florida Printing Firms

Dodd Communications, a division of Nationwide Argosy Solutions, and Franklin Communications are combining their operations in Florida. The resulting company will be named Franklin Dodd Communications.

Dodd Communications, founded in Miami 35 years ago, works with Fortune 500 companies, advertising agencies, graphic designers, and artists. It’s one of eight U.S. divisions owned by Houston-based Nationwide Argosy Solutions, a technology, graphic communications, and fulfillment company.

Based in Miami, Franklin’s services include design, digital printing, sheetfed and web offset printing, fulfillment, database marketing and promotional items. It is one of the largest fully integrated digital and offset printing companies in the southeastern United States.

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02.22.2012
Buckeye Technologies Florida Facility Resuming Operation Following Power Failure

Buckeye Technologies Inc. today announced that its Foley Plant in Perry, Florida, which manufactures specialty wood cellulose and fluff pulp, is returning to normal operation following a power failure and electrical surge that occurred last Friday, February 17. The power failure was triggered by a malfunction in a high voltage electrical line and subsequent transformer failure in its power house. This resulted in the unplanned, complete shutdown of the facility. Power has been fully restored to the facility, and one of the plant’s two production lines resumed operation at normal rates on Sunday. Company officials are targeting for the second line to resume normal operation on Wednesday, February 22.

Buckeye Chairman and CEO John B. Crowe said, "While this is an unfortunate event, I appreciate the efforts of our employees and contractors with a rapid and around the clock effort to return the plant to normal operations. Resources have performed in a safe manner to identify the damaged equipment and make the necessary repairs. We are working with all of our customers and anticipate no major customer issues from this event. The Foley Plant remains in a sold out position and we believe current inventory levels are adequate to cover the production losses for the near term. Our highest priority is to safely return the plant to full operation.”

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02.21.2012
American Media, Inc.'s Muscle & Fitness Bulks Up with Major Redesign and New Editorial Features

David J. Pecker, Chairman, President and CEO of American Media, Inc., today announced that Muscle & Fitness, the #1 magazine for serious fitness enthusiasts, is all new in 2012. With over 6.2 million readers, Muscle & Fitness is dedicated to providing the most effective training, nutrition and supplement information. The magazine has undergone a major redesign with a new section, new departments, and a renewed focus on bringing readers the specific information they need to take ownership of their appearance, their strength, and their health.

“The Muscle & Fitness brand has prided itself for 72 years on always providing readers with cutting-edge training and nutrition content,” commented Mr. Pecker. “With the redesigned magazine, the expansion of the website including the introduction of the Muscle & Fitness store, and a variety of strong industry partnerships, we have taken the magazine to new heights.”

Beginning with the March issue, which hits newsstands nationwide on February 27th, Muscle & Fitness will showcase a new, modern look, with larger images, cleaner layouts, and more dynamic color schemes. Terry Crews, actor and former NFL player, will grace the March cover as part of a special “21 Gun Salute,” which ranks the Hollywood actors with the most muscular arms. The feature also provides readers with 21 arm workouts from authorities such as UFC fighter Tim Kennedy, celebrity trainer Gunnar Peterson, and Arnold Schwarzenegger. Future issues of the magazine will see equally compelling themes that speak to specific interests of Muscle & Fitness readers.

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02.21.2012
Oil Trades Near Nine-Month High on Iran Tension

Oil traded near the highest price in nine months in New York after euro-area finance ministers agreed on a second bailout for Greece.

Crude advanced as much as 2.1 percent from its Feb. 17 settlement. There was neither floor trading nor a closing price yesterday in the U.S. because of the Presidents’ Day holiday. Brent, the benchmark for half the world’s oil, was little changed in London after Europe Union finance ministers awarded 130 billion euros ($173 billion) in aid to Greece.

“The Greek bailout was priced into oil because it was expected that a deal would be approved,” said Andrey Kryuchenkov, an analyst at VTB Capital in London. “Brent is overbought. We have some geopolitical issues in Iran and Syria but OPEC is producing at record levels and output from Libya is increasing.”

Oil futures for March delivery on the New York Mercantile Exchange, which expire today, rose as much as 2.2 percent from the Feb. 17 close to $105.44, the highest price since May 5, and were at $104.50 at 11:39 a.m. London time. The more-actively traded April contract was at $104.84, up 1.2 percent.

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