Blog Keyword - Midland PaperClips - fine paper, packaging and supply systems distributor

10.20.2011

Temple-Inland Inc. Reports Third Quarter 2011 Results

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

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

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

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10.19.2011

Mill starts producing paper in East Millinocket

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

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

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

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

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

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

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

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10.19.2011

Postal Service Adjusts Mailing Services Prices for 2012

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

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

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

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

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

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10.19.2011

Berlin Packaging Introduces America's First Molded Fiber Bottle

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

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

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

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10.19.2011

Postal Service Legislation Clears Another Hurdle

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

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

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

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

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10.19.2011

Crown Holdings Reports Third Quarter 2011 Results

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

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

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

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10.19.2011

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

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

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

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

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

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

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10.19.2011

Lowe's Closing 20 Underperforming Stores

Lowe's Companies, Inc. announced today the company is closing 20 underperforming stores in 15 states. Ten locations closed at the end of business Sunday, October 16. The remaining 10 locations will close within approximately one month, following an inventory sell-through.

In addition, after completing a comprehensive review of its pipeline of proposed new stores, the company announced it has discontinued a number of planned new store projects. Lowe's now expects to open 10 to 15 stores per year in North America from 2012 forward, compared to a prior assumption of approximately 30 stores per year. The company is on track to open approximately 25 stores in 2011, as planned.

The expected financial impact of today's announcements of $0.17 to $0.20 per diluted share was not contemplated in the business outlook for fiscal 2011 which the company provided on August 15 when it released its second quarter earnings. Additional details regarding the impact of the store closings will be provided in the next quarterly earnings release on November 14.

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10.19.2011

Magazines in Tough Talks With Major Wholesaler

Magazine wholesaling giant Source Interlink Cos. and publishers are locked in battle again, two years after Source’s demand for higher rates temporarily disrupted newsstand deliveries.

It’s bad timing for publishers to get hit with higher rates now, as it was then. Newsstand sales remain soft and advertising has barely recovered from the ad recession. Some publishers also are seeing their paper costs go up.

Given those pressures, the publisher of one large newsstand title said he was determined to dig in his heels. “I’m not giving you a penny,” he said he would answer if Source asks for more money. “You can stop selling us if you like.”

Representatives of the largest publishing houses and their distributors didn’t reply to requests for comment on the talks, but the head of one multi-title publishing company said Hearst and Condé Nast were in tough discussions with the wholesaler. “Everybody is waiting for the next round,” this person said.

Source executives said the company needs to bring its revenue in-line with expenses, adding that some publisher clients haven’t had a price increase in five or more years.

“Sales have declined on the newsstand for several years, and at the same time costs for wholesalers have continued to rise,” said David Algire, president of Source Interlink Distribution.

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10.19.2011

Sonoco Reports 2011 Third Quarter Results

Sonoco, one of the largest diversified global consumer and industrial packaging companies, today reported results for its third quarter ending October 2, 2011.

Third Quarter Highlights: Third quarter 2011 GAAP earnings per diluted share were $.76, compared with $.57 in 2010, including a $.10-per-diluted-share gain stemming from a net release of valuation allowances on deferred tax assets, partially offset by restructuring charges and acquisition expenses. Base net income attributable to Sonoco (base earnings) for third quarter 2011 was $.66 per diluted share, compared with $.65 in 2010. Third quarter 2011 net sales were $1.12 billion, up 7 percent, compared with $1.05 billion in the third quarter of 2010.

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10.19.2011

Coldwater Creek Announces Proposed Public Offering of Common Stock

Coldwater Creek Inc. today announced that it intends to offer to sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. In connection with the offering, the Company expects to grant the underwriter a 30-day option to purchase additional shares of common stock. All of the shares will be offered by the Company.

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

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10.18.2011

Grainger Reports Record Results for the 2011 Third Quarter

Grainger today reported record results for the 2011 third quarter ended September 30, 2011. Sales of $2.1 billion increased 11 percent versus $1.9 billion in the third quarter 2010. The 2011 third quarter had the same number of selling days (64) as the third quarter of 2010. Net earnings for the quarter increased 21 percent to $182 million versus $150 million in 2010. Earnings per share increased 22 percent to $2.51 versus $2.06 for the third quarter 2010.

The third quarter of 2010 included a non-cash benefit of $5 million after-tax, or $0.07 per share, from changes to the company's paid time off policy. Excluding this item, earnings per share increased 26 percent versus the 2010 third quarter.

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10.18.2011

Ahlstrom implements profit improvement program to address underperforming units

Ahlstrom Corporation, a global high-performance materials company, will implement a profit improvement program to address underperforming businesses. The program aims to improve annual operating profit by approximately EUR 15 million euros starting from the year 2012 and may affect about 400 employees. The overall impact of the non-recurring items of the program is cash neutral.

For the measures announced today, Ahlstrom will book a non-recurring cost of about EUR 25 million in its third-quarter 2011 financial results. Further improvement measures are being considered and will be announced in due course.

As a result of the co-operation negotiations started in September at its Karhula and Mikkeli plants, part of the Building and Energy business area, Ahlstrom has decided to gradually discontinue the production of glassfiber and glassfiber mats in Karhula by the end of 2011 as the operation is unprofitable. The production of glassfiber tissue at the site will continue as before.

The decision to end glassfiber production will lead to a personnel reduction of 170 employees in Finland starting from October.

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10.18.2011

Ahlstrom updates 2011 outlook for net sales and operating profit

Ahlstrom Corporation's sales volume development in the second half of 2011 has been weaker than earlier anticipated due to the slowdown in its main markets. The lower than expected demand has had an adverse impact on the company's net sales and operating profit, particularly in the Label and Processing business area.

As a result, Ahlstrom updates its 2011 outlook for net sales and operating profit excluding non-recurring items from continuing operations. The company now estimates net sales to be EUR 1,565-1,645 million and operating profit excluding non-recurring items of EUR 46-56 million. Ahlstrom had previously expected net sales to be at EUR 1,580-1,740 million and operating profit excluding non-recurring items of EUR 67-87 million. Both the new and the previous guidance exclude figures from Home and Personal business area. The divestment of Home and Personal to Suominen Corporation is expected to be completed by the end of October 2011.

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10.18.2011

M-real starts measures to eliminate losses of its paper business

M-real Corporation, part of Metsäliitto Group, announced on 4 May 2011 in a stock exchange release its plans to divest the Alizay mill in France and the entire Gohrsmühle mill in Germany or, alternatively parts of the Gohrsmühle separately based on a Paper Park concept. It was then announced also that if the divestments do not materialize, M-real plans to start consultation processes proposing to close the operations. M-real also announced plans to discontinue its remaining carbonless paper converting operations at the Reflex mill in Germany.

M-real received several offers for the Alizay mill, based on which the negotiations have been carried out to divest the mill. None of the buyer candidates however fulfilled M-real’s conditions for entering into transaction. The main conditions for divestment set by M-real relate to the financial status of the buyer, credibility and capability to implement the presented business plan, ability to take responsibility for the employees and the business risks as well as the financial consequences to M-real of the divestment.

M-real has decided to commence an information and consultation process to close the Alizay paper mill. There are currently approximately 330 employees at Alizay mill. Despite extensive restructuring measures and also investments implemented at Alizay mill, it loses currently approximately EUR 3 million per month. In this very challenging operating environment that European paper industry faces, it is not possible to turn the heavily loss-making mill profitable. Nor are there any signs of such a turning point in the paper market that would change the situation.

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10.18.2011

September AF&PA Boxboard Report

Unbleached Kraft Folding production decreased over the same month last year, and decreased from last month. Total Solid Bleached Boxboard & Liner production decreased compared to September 2010, and decreased from last month. The production of Recycled Folding decreased compared to September 2010, and decreased when compared to last month. Inventory of Solid Bleached Kraft Paperboard increased in September.

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10.18.2011

September AF&PA Kraft Paper Sector Report

The American Forest & Paper Association released its September 2011 Kraft Paper Sector Report today. Total Kraft paper shipments were 124.6 thousand tons, an decrease of 13.4% compared to September 2010. Total inventory was 80.9 thousand tons.

Additional key findings from the report include: Total Unbleached Kraft shipments decreased compared to September 2010. Total Bleached Kraft shipments stayed essentially flat compared the same month last year, however, year to date shipments increased compared to the same nine months in 2010.

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10.18.2011

Amcor releases its 2011 Sustainability Report

Amcor is pleased to announce the release of its 2011 Sustainability Report (the Report), the ninth annual Report released by the company.

As the world’s largest packaging company, Amcor has a responsibility to demonstrate to our stakeholders how packaging can contribute to sustainability goals. For several years, Amcor has been internationally recognised as a sustainability leader, with inclusion in the Dow Jones Sustainability Index (Asia Pacific index), the FTSE4Good Index and the Carbon Disclosure Leadership Index (Materials sector, Australian and New Zealand Region).

Amcor’s approach to sustainability is driven by the company’s operating model (Being Amcor) our risk management framework and our key stakeholder interests. The report outlines our efforts in the five key areas of economy, marketplace, environment, workplace and community.

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10.18.2011

Green Award in Indonesia Highlights Positive Impact of Forest Plantations on the Reduction of Greenhouse Gas Emissions

A first-of-its-kind landmark research project, carried out at Asia Pulp & Paper (APP) pulpwood suppliers’ areas in South Sumatra, by academics at Institut Pertanian Bogor (IPB), Bogor Agricultural University in Indonesia has been honoured at the Indonesian Green Awards, for successfully proving the positive impact of plantation forestry on degraded peat land and greenhouse gas emissions.

Conclusions from this research were based on a study carried out from September 2010 to March 2011 effectively proving that the development of pulpwood plantations - or afforestation - on degraded peat land, or land that had been stripped of forest, can help the land sustainably recover contributing significantly to increased carbon absorption.

The Green Award ceremony on 28 September 2011 was endorsed by the Indonesian Ministry of Forestry. The findings of the study, which showed a substantial rise in secondary and plantation forest cover over the period of the study, were highlighted.

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10.18.2011

Oil Drops For a Second Day After China’s Economy Grows Slowest Since 2009

Oil fell for a second day in New York after China said its economy grew at the slowest pace in two years and U.S. crude stockpiles were forecast to increase.

Futures dropped as much as 1 percent, extending yesterday’s 0.5 percent decline, after China’s statistics bureau said the economy grew at 9.1 percent in the third quarter, less than predicted. An Energy Department report tomorrow may show U.S. crude inventories climbed for a second week, according to a Bloomberg News survey. Technical indicators indicate prices may have advanced too fast to be sustainable.

“The correction could go further, below $100” for London- traded Brent crude, said Eliane Tanner, an analyst at Bank Sarasin & Cie AG in Zurich, who correctly predicted prices would drop in the second half. “We’ll continue to see bouts of risk aversion until there’s a solid solution to uncertainties in the EU. The slowdown in Chinese economic growth is not surprising after the monetary tightening.”

Crude for November delivery fell as much as 83 cents to $85.55 a barrel in electronic trading on the New York Mercantile Exchange. It was at $86.07 at 11:44 a.m. London time. Prices are down 5.8 percent this year.

Brent oil for December settlement on the London-based ICE Futures Europe exchange dropped as much as $1.24, or 1.1 percent, to $108.92 a barrel. The European benchmark contract was at a premium of $23.45 to U.S. futures. The difference narrowed 16 percent yesterday, the most since June 16.

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10.18.2011

Carlith Selects Suite of EFI Products to Increase Efficiencies and Provide Platform for Growth

EFI™, a world leader in customer-focused digital printing innovation, today announced that Carlith LLC has chosen a suite of EFI solutions to streamline its operations and provide a foundation for future growth. Carlith is deploying EFI Digital StoreFront® web-to-print, EFI Pace™ MIS, Pace scheduling, EFI Auto-Count® direct machine interface, and the SmartLinc Process Shipper freight management solution. The company also recently installed its first digital press by MGI, driven by EFI Fiery® technology.

A leading full-service commercial printer in the greater Chicago metropolitan area, Carlith is a portfolio company of SR Capital Partners, a Los Angeles-based private equity firm. Soon after Carlith was purchased by SR Capital in June, the company began reviewing available print MIS products. Carlith was an existing EFI PSI™ user, but was not taking full advantage of the system. After a thorough evaluation, EFI came out on top again and Carlith signed the EFI contract at this year's GRAPH EXPO conference.

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10.18.2011

Mayr-Melnhof Karton AG Reports Half-Year 2011 Results

The Mayr-Melnhof Group was able to close the first half-year 2011 with a significant increase of sales and results despite a normalization and the successive slow-down in demand dynamics as well as an increase in raw material costs. The Group’s operating margin came up to 9.4 % (1st half of 2010: 9.0 %).

We succeeded in keeping business volumes at a high level in both segments, despite an increasing running down of our customers’ stocks due to well-stocked supply chains. Largest direct challenge was dealing with the continuous rise in costs, which besides fibers included to an increasing extent other direct costs. While in the first quarter of 2011 we were still able to achieve a sufficient compensation, in the second quarter this was no longer possible to a full extent.

In the course of globally increasing economic uncertainties and high stockpiling, we expect our customers to plan more conservatively within the next few months. Despite the fact that some raw material prices, in particular recovered paper, seem to have achieved peak levels, there is currently no clear indication for an immediate decrease. Considering the growing challenging circumstances, we aim at price stability and cost efficiency to the extent possible. We will risk-sensitively continue our expansion strategy with a primary focus on growth regions.

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10.18.2011

On the Ground 2011 – The Controversy of Greenpeace et al.

PEFC has rejected the main allegations contained in the “final” version of the report “On the Ground 2011 – The controversies of PEFC and SFI”, released by a coalition of well-known FSC supporters yesterday. The report originally appeared on the FSC website. FSC, the Forest Stewardship Council, is an alternative, competing certification system.

PEFC already responded to the initial report, and has updated its response to reflect modifications in the final version of the report.

Greenpeace et al.'s main allegations include that PEFC lacks transparency, that stakeholders are inadequately involved, and that the complaints procedures are inadequate. In response to these allegations, Ben Gunneberg, Secretary General of PEFC International, said : "On the Ground 2011 contains a number of errors and misleading statements, and PEFC rejects Greenpeace et al.'s main allegations."

PEFC would like to reiterate that it believes that collaboration beats confrontation – every time. We take all criticism regarding our organization very seriously and endeavour to cooperate fully with those who seek to understand or enquire about our work and achievements.

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10.18.2011

Tredegar Corporation Announces Agreement to Acquire Terphane

Tredegar Corporation announced today that its subsidiary, Tredegar Film Products Corporation, has agreed to acquire 100% of the equity interests of Terphane Holdings LLC ("Terphane"), a leading manufacturer of specialty polyester films with operations in Brazil and the United States. Terphane is currently owned by Vision Capital, an international investment firm.

The approximate purchase price of $188 million will be funded using available cash on hand and financing from Tredegar's existing $300 million credit facility. Tredegar expects that the acquisition will be accretive within the first year following the acquisition. Closing of the acquisition, which is subject to the satisfaction or waiver of certain customary closing conditions, is expected later this month.

With revenues of approximately $160 million for the last twelve months, as of June 30, 2011, Terphane is a market leading producer of thin polyester films in Latin America with a growing presence in strategic niches in the United States. Polyester films have specialized properties, such as heat resistance and barrier protection, which make them uniquely suited for the fast-growing flexible packaging market. Terphane is headquartered in Sao Paulo, Brazil and operates two manufacturing facilities in Cabo, Pernambuco Brazil and Bloomfield, New York. It enjoys long-standing relationships with prominent Latin American and multinational customers.

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10.18.2011

Bookstore Sales Jumped in August

After falling 4% in July, bookstore sales posted unexpectedly strong gains in August, according to preliminary estimates released by the Census Bureau. Bookstore sales jumped 11.8% in August, to $2.44 billion, an increase that likely reflects strong sales of books and other items through college bookstores and the going-out-of-business sales at Borders. With the gain in August, bookstore sales through the first eight months of the year rose 2.1%, to $10.47 billion.

Sales for the entire retail market were up 8.7% in August and 8.0% in the eight-month period.

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10.18.2011

Quad/Graphics to Close Richmond, Va., and Stillwater, Okla., Plants

Quad/Graphics, Inc. announced today that it will cease production at its Richmond, Virginia, and Stillwater, Oklahoma, facilities as part of its ongoing plan to integrate operations following the Company's July 2, 2010, acquisition of Worldcolor.

"Today's announcement is another step in our 24-month journey to integrate operations of the combined companies, which will further enhance the efficiency and overall competitiveness of our manufacturing platform," said Joel Quadracci, Quad/Graphics Chairman, President & CEO. "We remain steadfast in our commitment to take the necessary actions that will move our business forward, create value for our clients and shareholders, and build long-term stability and success for our employees."

The Richmond plant encompasses approximately 225,000 square feet and currently employs approximately 125 people. It will run at full production until it closes in December 2011.

The Stillwater plant is approximately 350,000 square feet and employs approximately 240 people. It will begin stepping down operations in December 2011 and cease production in May 2012.

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10.18.2011

Torstar Announces Acquisition of Community Newspapers and Printing Operation in Eastern Ontario

Torstar today announced that its subsidiary, Metroland Media Group Ltd., has acquired Performance Printing Ltd. of Smiths Falls, Ontario for $22.5 million. Performance Printing is a commercial printer with operations in Smiths Falls, as well as a newspaper publisher and flyer distributor in several Eastern Ontario communities including Kingston, Belleville, Brockville, Smiths Falls and Ottawa.

“The acquisition will allow Metroland, publisher of more than 100 newspapers primarily in the Greater Toronto Area, to extend its community newspaper and flyer distribution services to new communities in Eastern Ontario. The acquisition will also support Metroland’s extension of its growing suite of digital offerings,” said David Holland, President and Chief Executive Officer of Torstar Corporation.

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10.18.2011

Packaging Corporation of America Reports Third Quarter 2011 Results

Packaging Corporation of America today reported third quarter 2011 net income of $42 million, or $0.42 per share, which included after-tax charges of $1 million, or $0.01 per share, from asset disposals related to major energy projects. Net income, excluding these charges, was $43 million, or $0.43 per share, compared to third quarter 2010 net income of $62 million, or $0.60 per share, which excludes income from cellulosic biofuel credits and asset disposal charges.

Higher volume improved earnings by $0.04 per share compared to last year's third quarter, but higher costs ($0.18), sales mix ($0.02) and price ($0.01) more than offset this improvement. The higher costs included transportation ($0.04), recycled fiber ($0.04), labor and benefits ($0.04), energy ($0.02), chemicals ($0.02) and other items ($0.02).

Excluding special items, net income for the first nine months of 2011 was $122 million, or $1.21 per share, compared to $113 million, or $1.10 per share in 2010. This earnings increase was driven by price and mix ($0.41), higher volume ($0.15), lower interest expense ($0.03) and lower energy usage ($0.03). These items were partially offset by cost increases of $0.51 per share for essentially the same items noted above for the third quarter.

Net sales were $671 million, up 4.4% compared to the third quarter of 2010, and year-to-date net sales were $2.0 billion, up 8.7% over 2010.

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10.18.2011

Coldwater Creek Provides Outlook for the Second Half of Fiscal 2011

Coldwater Creek Inc. today announced its outlook for the fiscal third and fourth quarters ending October 29, 2011 and January 28, 2012, respectively.

Fiscal Third Quarter 2011: For the thirteen-week period ending October 29, 2011, the Company currently expects:

-- Consolidated net sales in the range of $180.0 to $190.0 million reflecting a decline in comparable premium retail store sales of 17% to 21% as compared to the fiscal third quarter of 2010. The decline in comparable premium retail store sales reflects soft traffic, partially offset by improvements in conversion rates and average unit retail versus the prior year period.
-- Gross margin flat to down slightly compared to the prior year period as modest improvements in merchandise margins are offset by deleveraging of occupancy and buying expenses versus the third quarter of 2010.
-- Net loss in the range of $0.30 to $0.36 per share, as compared to a net loss of $0.12 per share in the third quarter of fiscal 2010.

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10.18.2011

Gannett Co., Inc. Reports Third Quarter Results

Gannett Co., Inc., a leading international media and marketing solutions company, today reported third quarter 2011 financial results.

Net income attributable to Gannett totaled $99.8 million in the third quarter while net income attributable to Gannett on a non-GAAP basis was $106.2 million. Reported operating income was $198.2 million and non-GAAP operating income totaled $206.8 million. Operating cash flow (a non-GAAP term defined as operating income plus special items, depreciation and amortization) was $255.8 million in the quarter.

Reported operating revenues for the company declined 3.5 percent to $1.27 billion in the third quarter from $1.31 billion for the same quarter a year ago. Solid Digital segment revenue growth was driven primarily by higher revenue at CareerBuilder. The revenue decline in the Broadcasting segment reflects significantly lower political advertising compared to 2010's third quarter that more than offset gains in non-political advertising and retransmission revenue. While Publishing segment advertising revenues in total declined amid softening economic conditions, digital revenue for the segment rose 8.0 percent.

Publishing segment operating revenues were $917.8 million for the quarter compared to $969.4 million in the third quarter of 2010 reflecting the impact of the lackluster economic environment on advertising demand. Digital revenues in the Publishing segment were up in the quarter. Circulation revenue was just 1.0 percent lower, a sequential improvement relative to comparisons for the first quarter and second quarter this year.

Advertising revenues totaled $591.7 million in the quarter compared to $646.7 million in the third quarter last year. Advertising revenues in the U.S. were 9.3 percent lower while at Newsquest, the company's operations in the UK, advertising revenues declined 7.9 percent, in pounds. Newsquest's advertising revenue comparisons across all categories improved relative to the first and second quarters this year.

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10.18.2011

U. S. Containerboard Statistics for September 2011

The American Forest & Paper Association released its September 2011 U. S. Containerboard Statistics Report today. Containerboard production decreased 2.3% when compared to August 2011, however, the month over month average daily production, was up 1.0%. The containerboard operating rate for September 2011 was down slightly from September 2010 to 98.4% but up 1.0 points from the August operating rate.

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10.17.2011

RR Donnelley Awarded $550 Million Multi-Year Agreement by American Media Inc.

R. R. Donnelley & Sons Company today announced that it has been awarded a $550 million multi-year agreement by American Media Inc. (AMI). Under the terms of the agreement RR Donnelley will provide a broad array of products and services in North America and the U.K., including premedia, magazine production, variable digital printing, TransPromo communications as well as new digital and electronic communications services through its CustomPoint® Solutions Group. During the multi-year agreement, which extends and expands the companies' relationship, RR Donnelley will produce all new AMI launches and will also begin to print and bind the popular weekly titles OK! and Star Magazine.

AMI owns and operates leading celebrity and health and fitness media brands. Its magazines, which include titles such as Star, OK!, National Enquirer, Shape, Men's Fitness, Muscle & Fitness, Natural Health, and Country Weekly reach more than 54 million men and women each month.

"RR Donnelley is at the forefront of production technology for both print and the increasingly critical digital distribution, which makes it the ideal partner for AMI to help grow our already popular brands," said David Pecker, Chairman, President and CEO of AMI. "The company's unique ability to manage and deliver content in a variety of ways will continue to provide superior value to AMI."

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10.17.2011

Pearson acquires TQ Holdings Ltd. to extend business in vocational and technical training

Pearson, the world’s leading learning company, today announced the acquisition of TQ Holdings Ltd. (“TQ”), a private company based in Derbyshire, England.

TQ provides vocational and technical education and training services to governments, institutions and corporations around the world. Its major geographic markets are the UK and the Middle East, and it has particular expertise in skills related to the defence, engineering, oil and gas and construction sectors. A combination of Pearson’s scale and assets with TQ’s excellence in training delivery will support growth in this business both in the UK and internationally.

TQ’s contracts include the Saudi Petroleum Services Polytechnic in Saudi Arabia, the Welbeck Defence Sixth Form College in Leicestershire, and the Royal School of Military Engineering. As part of Pearson, TQ will continue its focus on excellence in training delivery for its clients both in the UK and overseas.

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10.17.2011

Amcor offers renewable packaging materials solution for the coffee market

Amcor Flexibles Europe & Americas (AFEA) is proud to announce a breakthrough in flexible packaging for the coffee market. Called NaturePlus Renewable, this three ply laminate is based on renewably sourced materials produced and converted by Amcor.

AFEA, in partnership with Beyers Coffee, have developed an innovative coffee bag for the exclusive BénéCafé coffee brand using NaturePlus Renewable. The bag not only contains 58% renewable carbon based on the ASTM D6866 test method*, it also has excellent barrier properties and seal integrity essential for keeping the freshness and aroma of the coffee.

Importantly, the BénéCafé ground coffee bag offers a number of consumer features including it’s easy to open with good dead-fold to help with storage once opened and it’s a natural look and warm feel from the paper outer layer of the laminate.

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10.17.2011

Oil Rises Second Day on Europe Demand Outlook

Oil traded near the highest in a month as European Union leaders worked on a plan to resolve the region’s debt crisis and protect economic growth.

Futures gained as much as 1.6 percent, adding to last week’s 4.6 percent climb, after Group of 20 finance ministers and central banks set an Oct. 23 deadline for a plan to avoid a Greek default, bolster banks and curb contagion. China may say tomorrow its economy grew more than 9 percent last quarter. Oil prices are being driven by “bear fatigue” and may drop in the first half of 2012, according to Morgan Stanley.

“There’s optimism that a comprehensive solution for the euro zone debt crisis will be unveiled at the EU summit next week,” said Carsten Fritsch, an analyst in Frankfurt at Commerzbank AG, the fourth most-accurate forecaster of oil prices in the third quarter. “But there is huge potential for disappointment if announcements fall short of expectations, which is very likely.”

Crude for November delivery on the New York Mercantile Exchange gained as much as $1.38 to $88.18 a barrel, the highest since Sept. 16, and was at $87.35 at 10:53 a.m. London time. Prices are down 4.4 percent this year.

Brent oil for December settlement was down 14 cents at $112.09 a barrel on the London-based ICE Futures Europe exchange after rising to $113.86. Front-month futures rose 7.8 percent last week.

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10.17.2011

U.S. demand for flexible packaging to exceed $18 billion in 2015

Demand for converted flexible packaging is projected to increase 3.8% annually to $18.2 billion in 2015. That’s according to a new study, “Converted Flexible Packaging,” from industry research firm The Freedonia Group, Inc. The study adds that gains will be similar to the pace of the 2005-2010 period based on the well-established presence of pouches in a number of food and nonfood markets coupled with overall deceleration in raw material price growth. Converted flexible packaging’s source reduction capabilities will also be increasingly advantageous in light of initiatives by major retailers and packaged goods firms to evaluate their packaging in terms of eco-friendliness and cost reduction.

Pouches will experience above-average advances, with demand expected to increase 4.6% yearly to $8 billion in 2015. Growth will be driven by continued conversions to stand-up pouches and healthy gains for flat pouches in a number of markets, along with a smaller environmental footprint due to light weight and reduced material use, which also holds down shipping costs. Additionally, the aging of rigid packaging equipment will create openings for replacements by pouch-packaging equipment over the coming decade.

Gains for bags will be moderated by the maturity of many applications along with competition from pouches and rigid packaging. Still, advances will represent an improvement from the 2005-2010 performance based on the expected recovery in the U.S. economy. Plastic bag demand will outpace that of paper bags due to cost and performance advantages, along with widespread usage in baked goods, produce, meat, frozen food, and grain mill product applications. However, growing efforts by packaged goods firms to demonstrate their commitment to sustainability will lead to some degree of renewed interest in paper, which possesses such qualities as renewability, recyclability, and compostability.

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10.17.2011

DuPont Titanium Technologies Announces a Price Increase for Ti-Pure® Titanium Dioxide Products Sold in North America

Effective Nov. 1, 2011, DuPont Titanium Technologies announces a price increase of 15 cents per pound (USD), or as permitted by contract, for all DuPont™ TiPure® titanium dioxide (TiO2) sold in North America (United States and Canada). This increase is in addition to any previously announced increases for North America.

DuPont Titanium Technologies is the world's largest manufacturer of titanium dioxide, serving customers globally in the coatings, paper and plastics industries.

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10.17.2011

Pregis Announces Sale of Kobusch-Sengewald Business to an Affiliate of Sun European Partners

Pregis Corporation, a leading international manufacturer, marketer, and supplier of protective packaging products and specialty packaging solutions, announced today that it has entered into a definitive purchase agreement to sell its Kobusch-Sengewald business unit to Sun European Partners, LLP ("Sun European Partners"), the European adviser to Sun Capital Partners, Inc., for gross proceeds of euro 160 million. Sales of the Kobusch-Sengewald business for the twelve months ended September 30, 2011 were euro 211.6 million, with adjusted EBITDA (before unallocated corporate expenses) of euro 24.8 million. The proceeds from the transaction will be used to repay a portion of Pregis' asset-based lending facility and will be otherwise retained for debt repayment, general corporate purposes, and future reinvestment.

Kobusch-Sengewald is a leading supplier of specialized flexible packaging films for the food, consumer goods, and medical industries, along with semi-rigid and rigid packaging solutions for the high-end food market. Kobusch-Sengewald operates six manufacturing sites, with two in Germany, three in the U.K., and one in Egypt.

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10.17.2011

E-book Sales Doubled in July

E-book sales had their smallest increase of the year in July, while the adult hardcover segment had one of its strongest months, according to the AAP’s monthly sales report. E-book sales from 17 reporting publishers rose 105.3% in the month, to $82.6 million. Adult hardcover sales from 14 reporting publishers rose 33.9% in July, to $91.2 million. Despite the strong July performance, adult hardcover sales were down 17.8% for the seven month period, while e-book sales were up 152.8%, to $560.5 million.

With the exception of adult hardcover, sales were down in all other print trade segments in July. Downloadable audio had a good month with sales up 26.7% from 12 reporting publishers to $8.3 million, while sales of physical audio declined 25.5% to $8.1 million.

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10.17.2011

Torstar Announces Acquisition of Additional Interest in Metro English Canada

Torstar today announced that it has increased its interest in the English-language Metro newspaper operations (“Free Daily News Group”) jointly owned in Canada with Metro International S.A. to 90%. The aggregate consideration was $51.5 million and included the purchase of shares from Metro International S.A. and the negotiation of a new franchise agreement. Metro International S.A. will continue to hold a 10% interest in Free Daily News Group.

Free Daily News Group publishes free daily newspapers under the Metro trade mark in Toronto, Vancouver, Ottawa, Calgary, Edmonton, Winnipeg and London, and pursuant to a joint venture with Transcontinental Media G.P. in Halifax.

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10.14.2011

International Paper Completes Acquisition of Majority Stake in Andhra Pradesh Paper Mills

International Paper today announced that it has completed the acquisition of a 75 percent stake in Andhra Pradesh Paper Mills (APPM). International Paper purchased 53.5 percent of the APPM shares from Mr. L.N. Bangur and related family members and affiliates for approximately US$226 million in cash. These sellers have also entered into a covenant not to compete, for which they received a cash payment of US$57 million. In addition, International Paper acquired an additional 21.5 percent of APPM shares in a public tender offer completed on October 8, 2011, for approximately US$105 million in cash. Paul Brown, president, IP India, will become executive chairman of the APPM Board of Directors, effective today.

"As we complete this phase of the process and move into majority ownership, International Paper is well-positioned to help serve a rapidly growing Indian market," said John Faraci, International Paper Chairman and Chief Executive Officer. "We look forward to building on Andhra Paper's tradition of excellence while introducing the global best practices that make International Paper an industry leader. We are delighted to welcome these new employees to International Paper."

APPM is one of the leading integrated paper manufacturers in India, and operates two mills with a combined annual capacity of 250,000 tonnes of uncoated freesheet paper. The existing management team and 2,500 employees of APPM will continue to operate the business, supplemented by additional International Paper leadership and professional and technical resources.

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10.14.2011

SMART Papers Holdings LLC Announces Orderly Wind-Down of Its SMART Papers Business

SMART Papers Holdings said today it has started an orderly wind-down of its SMART Papers business and its SMART Power energy production facility. The carefully planned and executed wind-down process allows for a seamless transition period for all current customers.

SMART Papers recently finalized the sale of the majority of its manufacturing and power generation operating assets at the Hamilton facilities to a joint-venture led by Farmington Hills, Michigan-based Hilco Industrial. SMART Power owns and operates a new, 36-megawatt power generation facility at the Hamilton papermaking center, located 25 miles northwest of Cincinnati.

Hilco and SMART have entered into an exclusive marketing and business alliance under which Hilco, working closely with SMART Papers, will jointly market the operating assets and business while SMART Papers continues to actively run its papermaking facility in Hamilton.

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10.14.2011

Crude Oil Heads for Second Weekly Gain Amid U.S., Europe Demand Optimism

Oil rose in New York, heading for a second weekly gain on speculation Europe may contain its debt crisis and that the U.S. economy will recover, bolstering demand for raw materials.

Prices rose as much as 1.9 percent, rallying with equity markets as Group of 20 and International Monetary Fund officials said the fund may increase its lending resources to help stem the European debt crisis. Commerce Department data today may show U.S. retail sales last month climbed at the fastest pace in six months, according to a Bloomberg survey of economists. Technical indicators showed New York crude was oversold.

“The talk of recession is quieter,” said James Zhang, a strategist at Standard Bank Plc in London, who forecasts Brent will average $98 a barrel in the fourth quarter. “And the oil market itself has grown surprisingly tight. Inventories are very low, at least in Europe, as supplies are not coming back fast enough and, despite all the talk of slowdown, demand seems to be holding up.”

Crude for November delivery climbed as much as $1.61 to $85.84 a barrel in electronic trading on the New York Mercantile Exchange. It was at $85.54 at 10:46 a.m. London time. The contract fell 1.6 percent yesterday to the lowest close since Oct. 7. Prices are down 6.4 percent this year and up 3.1 percent for the week.

Brent oil for November settlement rose $2.06, or 1.9 percent, to $113.17 a barrel on the London-based ICE Futures Europe exchange. The European benchmark future, which expires today, reached a record premium of $27.70 a barrel to U.S. crude earlier today. The more-active December contract was up $1.17 at $111.17.

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10.14.2011

Valpak® Holiday Savings Report Unwraps New Seasonal Shopping Trends

As the holiday season approaches, consumers say they're not letting economic worries steal their holiday cheer, according to the Valpak Semi-Annual Consumer Savings Report. The report revealed that nearly all consumers (95 percent) are somewhat or very worried about today's economy, but four out of five (78 percent) say their holiday shopping habits will go unchanged - and some say they may actually spend a bit more.

Valpak, the 43-year savings and direct marketing leader, released the report in an effort to understand how consumer spending is evolving in our "post-recession" economy. Among the findings, several categories continue to improve in purchase intent, including vacation/travel and home improvement, while auto, medical and home entertainment appears to be trending down. For gift-givers specifically, spending intent is relatively stable, and coupon usage will remain a must-do for more than half (54 percent) of consumers.

"We're seeing value holding its place as a new tradition for most holiday shoppers. This year's holiday savings report indicates consumers are wary, yet they plan to spend roughly the same or more as last year. We also learned today's savvy consumer seeks out good deals year-round – from everyday errands like oil changes to holiday gift-giving and vacations," said Deanna Willsey, director of corporate communications for Valpak. "We believe that holiday shoppers have learned in recent years to stretch their budgets with coupons and deals on everything from presents to vacations and entertaining at home."

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10.14.2011

Forest Industry Applauds Government for Forward-Looking Investments

The Forest Products Association of Canada (FPAC) says the industry appreciates the strategic government investments that are continuing to help the industry transform and become more energy and cost efficient.

The federal government has just announced further allocations from the Pulp and Paper Green Transformation Program (PPGTP) and the Transformative Technologies – Pilot Scale Demonstration Program. The first recipients of the Investments in the Forest Industry Transformation (IFIT) program were also announced.

“This is a smart example of how government can help accelerate the changes now underway in the forest products sector in Canada,” says the President and CEO of FPAC, Avrim Lazar. “This will help companies make the necessary capital improvements that will bolster our economic competitiveness and our environmental credentials as we transform into the next generation forest industry.”

PPGTP has already had a deep impact on many communities and has helped secure thousands of jobs in rural Canada. To date the projects have supported more than 11,000 jobs in 33 mills in 30 communities across the country and today’s announcement will further expand the positive effect of the program. PPGTP continues to show how government and industry can work together successfully on a number of fronts – jobs, economic competitiveness, and the environment.

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10.14.2011

Ilim Group expanded coverage of FSC Forest Management Certificate over all leased timberlands

The Forestry Branch of OJSC Ilim Group in Koryazhma (Arkhangelsk Oblast) has gone through audit verifying the compliance with the FSC Forest Management requirements. No significant incompliances with the international standards have been identified during the audit which was carried out by GFA (Germany). After the audit the Forestry Branch was included in the list of Ilim Group Branches covered by the multi-site Forest Management FSC Certificate.

Now, the Certificate covers 100% of leased by Ilim Group-forests 5.2 million hectares. Previously, the multi-site certificate applied to 3.7 million hectares (the Company's forestry branches in Siberia) with a separate certificate in the Arkhangelsk Oblast.

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10.14.2011

Lower Pulp and Fine Paper Deliveries in Europe had an Adverse Impact on UPM's Operating Profit

UPM’s pulp deliveries and fine paper deliveries in Europe during Q3 2011 were lower than expected and had a negative impact on the company’s operating profit.

Fine paper demand continued to be low in Europe and deliveries did not recover in September from the seasonal summer slowdown.

However, stable demand continued in publication papers and the integration of Myllykoski and Rhein Papier proceeded well.

During Q3 2011, UPM’s operating profit excluding special items was approximately EUR 137 million and EBITDA approximately EUR 330 million. Sales were EUR 2.6 billion.

Following the lower than expected Q3 results and the continuing uncertainty in pulp and fine paper markets, UPM’s full-year 2011 operating profit is expected to be somewhat lower than last year. Previously, the full year 2011 operating profit was expected to improve from last year.

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10.13.2011

Meredith Brings Better Homes and Gardens, Parents, Fitness iPad Titles to Newsstand iOS 5

Meredith Corporation the leading media and marketing company reaching American women, today announced that Better Homes and Gardens, Parents and Fitness magazines for iPad are now available on Newsstand, a key feature of iOS 5.

Newsstand allows consumers to find digital newspaper and magazine products in one dedicated place on the App Store, and organize them in one easy-to-organize bookshelf. Users who subscribed to one of these Meredith titles will receive new issues automatically on their iPad. Latest issues and most recent cover art will simply appear in Newsstand.

"We are excited to offer Newsstand to our iPad subscribers," says Liz Schimel, Meredith's Chief Digital Officer. "We believe this new offering will further enrich the experience for our growing audience of readers on iPad by making it easy for them to buy, subscribe and receive their favorite magazines. Our mission remains to constantly find new and innovative ways to reach our audiences through multiple channels."

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10.13.2011

Catalogers fight back over 'junk mail' label

The American Catalog Mailers Association is pushing back against statements in a Wall Street Journal column that catalogers' mailings are unwelcome by recipients, take advantage of low “junk mail” postal rates and are contributing to the U.S. Postal Service's financial problems.

In a letter last week to the Journal, distributed via email to ACMA members today, Hamilton Davison, ACMA president-executive director, asserted, “Commercial mail, including catalogs, has not generated billions in losses. ... We estimate the catalog industry paid $3.6 billion in postage, covering more than $1 billion in the costs of running the Postal Service. Catalog mail is neither subsidized nor unwanted.”

In his email, Davison urged members to contribute to ACMA's lobbying efforts against postal rate increases and to its public relations fight against the notion “that consumers will come to view us as unwelcome.”

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10.13.2011

Cascades Continues the Consolidation of its Operations

Cascades Inc., a leader in the recovery of recyclable materials and the manufacturing of green packaging and tissue paper products, announces it will continue the consolidation of its Norampac Division's corrugated products converting operations in Québec. The consolidation will result in the closure of the Norampac plant located in Le Gardeur.

The Le Gardeur plant is specialized in the conversion of corrugated products, and has annual revenues of $8 million. In preparation for this closure, the plant's operations will be redirected progressively towards the other Norampac Québec based plants, that already serve the greater Montreal region. Nearly 50 employees will be affected by this closure that will be effective before the end of 2011.

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