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

01.29.2013

Double A Buys Alizay Pulp and Paper Mill from French Government

Thailand pulp and paper producer Double A said that it has acquired the Alizay pulp and paper mill located in northern France from the French government agency, Conceil General l’Eure.

Terms of the deal were not disclosed.

The former owner, Metsa Board, on Jan. 23 sold the Alizay mill to Conceil General l'Eure for EUR 22 million.

"This investment will open opportunities for Double A in Europe," said Mr. Thirawit Leetavorn, Senior Executive Vice President for Double A.

"Paper from Alizay will enhance our brand strength and allow Double A to be responsive to our customers’ needs,” Mr. Leetavorn added.

According to Double A, the Alizay mill will use two types of fiber for paper production — a virgin short fiber from the company's KHAN-NA1 tree plantations in Thailand, and recycled fiber which will be used for the production of Double A's "Evolve" paper brand.

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01.29.2013

Baton Rouge 'Advocate' May Have Buyer

Just a few months after the New OrleansTimes-Picayune cut its publication schedule to three days a week, Baton Rouge’s The Advocate-- which benefited from The Times-Picayune cut in the form of increased readership -- has received an expression of interest from a potential unidentified buyer, according to owner Capital City Press.

Over the last year, the Advocate’s daily weekday circulation has increased from 76,263 in March 2012 to around 98,000 today, according to the newspaper.

Much of this growth is attributed to increased demand in nearby New Orleans, where residents have been without a daily newspaper since The Times-Picayune reduced its publication schedule to three days a week in October 2012. The Advocate launched a daily New Orleans edition to fill this void.

The potential buyer is not interested in buying WBRZ-TV, a local ABC affiliate also owned by the family that owns Capital City Press, The Advocate reports.

Advance Publications' decision to cut The Times-Picayune's publication schedule, as well as the schedules of three other newspapers in Alabama, met a storm of protest when it was announced in May 2012. Local civic leaders, businesspeople and celebrities formed the "Times-Picayune Citizens' Group," which set itself a mission to “ensure the continuation of the delivery of a high quality, seven-day-a-week newspaper, with access to the entire community.”

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01.29.2013

Oil at Four-Month High as Durable Goods Orders Increase

Oil advanced to a four-month high in New York as orders for durable goods in the U.S. jumped, adding to economic optimism, and gasoline gained on the announcement that a New Jersey refinery will close.

Prices rose after the Commerce Department said orders increased 4.6 percent in December. Gasoline climbed to a three- month high after Hess Corp. (HES) said it will shut the Port Reading, New Jersey, plant at the end of February.

“The durable goods number is very good and it bodes well for energy demand,” said Phil Flynn, senior market analyst at the Price Futures Group in Chicago. “Gasoline is the strong market right now, and it’s been supportive for oil.”

West Texas Intermediate crude for March delivery rose 56 cents to settle at $96.44 a barrel on the New York Mercantile Exchange. Trading volume was 21 percent below the 100-day average at 3:22 p.m. WTI completed its seventh straight weekly gain, the longest run in almost four years, last week.

Brent for March gained 20 cents to settle at $113.48 a barrel on the London-based ICE Futures Europe exchange.

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01.29.2013

American Eagle Outfitters to Launch First Store in Mexico

American Eagle Outfitters, Inc. confirmed today the opening of its first company owned and operated store in Mexico City. The store will open February 20th, 2013 and will be located in the Perisur?s shopping center, a mall located in the south part of Mexico City. Aligning with its strategy plan to fortify and expand in North America; AEO plans to open a series of vertically owned and operated stores in Mexico. Each AEO store will include an Aerie presence either in shop-in-shop or side-by-side form.

In 2012, American Eagle Outfitters successfully licensed stores in Japan, Israel and Poland and continues to grow its presence in the Middle East. American Eagle Outfitters is currently present in 13 countries and ships online to 77 countries internationally.

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01.29.2013

International Paper Reports Fourth-Quarter and 2012 Earnings

International Paper reported preliminary full-year 2012 net earnings attributable to common shareholders totaling $794 million ($1.80 per share) compared with $1.3 billion ($3.03 per share) in full-year 2011. In the fourth quarter of 2012, the company reported net earnings of $235 million ($0.53 per share) compared with $281 million ($0.65 per share) in the fourth quarter of 2011. Amounts in all periods include special items and non-operating pension expense.

Full-year 2012 Operating Earnings were $1.2 billion ($2.65 per share) compared with $1.4 billion ($3.12 per share) in 2011. Operating Earnings in the fourth quarter of 2012 totaled $305 million ($0.69 per share) compared with $319 million ($0.73 per share) in the fourth quarter of 2011.

Annual sales totaled $27.8 billion in 2012 compared with $26.0 billion in 2011. Quarterly net sales were $7.1 billion in the fourth quarter compared with $6.4 billion in the fourth quarter of 2011.

Full-year 2012 business segment operating profits were $2.0 billion compared with $2.2 billion in 2011. Business segment operating profits in the fourth quarter were $528 million compared with $577 million in 2011, both of which included special items.

Industrial Packaging operating profits in the fourth quarter of 2012 were $368 million ($336 million including special items) compared with $342 million ($255 million including special items) in the third quarter of 2012. The profit increase in North America was the result of improved pricing, partially offset by higher planned outage-related maintenance expenses and input costs. Profits for the segment also benefited from seasonally higher sales volumes in Europe and an insurance settlement related to the earthquake that occurred in Northern Italy.

Printing Papers operating profits were $147 million (before and after special items) in the fourth quarter of 2012 versus $201 million ($202 million including special items) in the third quarter of 2012. North American operations were impacted by higher planned outage-related maintenance expenses, seasonally lower sales and lower average sales price for paper, particularly in export markets. Europe's results were stronger quarter over quarter mainly from lower planned maintenance expenses.

Consumer Packaging operating profits were $39 million ($41 million including special items) in the fourth quarter of 2012 compared with $67 million (before and after special items) in the third quarter of 2012. Earnings were impacted by higher outage-related maintenance expenses and lower average sales price primarily due to mix, along with cost associated with the start-up of the coated paper machine in China.

xpedx, the company's North American distribution business, reported operating profits of $11 million ($4 million including special items) in the fourth quarter of 2012 compared with $24 million ($15 million including special items) in the third quarter of 2012, reflecting higher operating expenses in the fourth quarter.

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01.29.2013

Potlatch Reports Fourth Quarter and Full Year 2012 Results

Potlatch Corporation today reported financial results for the fourth quarter and full year ended December 31, 2012.

Q4 2012 Financial Summary
•Total consolidated revenues for the quarter were $143.3 million, compared to $109.9 million in Q4 2011 and $151.9 million in Q3 2012.
•Net income for the quarter was $13.9 million, or $0.34 per diluted common share, compared to a net loss of $1.5 million, or a loss of $0.04 per diluted common share, in Q4 2011 and net income of $18.6 million, or $0.46 per diluted share, in Q3 2012.
•EBITDDA was $36.4 million for Q4 2012, compared to $7.8 million in Q4 2011 and $37.0 million in Q3 2012.

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01.28.2013

U.S. Printing-Writing Paper Shipments Fell in December 2012

The American Forest & Paper Association in its December 2012 U.S. Printing-Writing Paper Report said that total printing-writing paper shipments decreased 9 percent in December compared to December 2011.

For the year of 2012, printing-writing and related paper shipments were 4.6 percent below the 2011 level. All four of the major printing-writing grades posted decreases compared to last December, with inventory levels increasing in November, led by double-digit increases in mechanical grade papers.

Additional key findings include:

December shipments of coated free sheet (CFS) papers decreased 7 percent when compared to December 2011 and were down 3 percent for the year in 2012. Year-to-date imports of CFS through November were down 12 percent compared to the 11-month period in 2011.
Uncoated free sheet (UFS) papers shipments decreased 7 percent compared to December. Annual purchases of UFS papers for the year were down 4 percent compared to 2011. Year-to-date UFS imports are up 4 percent in 2012 compared to same 11 months in 2011.
December uncoated mechanical (UM) paper shipments decreased 27 percent when compared to December 2011, with annual shipments 17 percent below 2011 levels.
December shipments of coated mechanical (CM) papers decreased 10 percent compared to December 2011 and 5 percent for the year.

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01.28.2013

Barnes & Noble’s e-book unit will offer more textbooks

Nook Media LLC, the digital content arm of bookseller Barnes & Noble Inc., is preparing to expand its digital textbook offerings after completion of an $89.5 million investment from textbook publisher Pearson PLC.

Barnes & Noble, No. 32 in the Internet Retailer Top 500 guide, announced the Pearson investment in December and the deal closed on Wednesday. Pearson now owns 5% of Nook Media, with Microsoft Corp. holding 16.8% and Barnes & Noble the remaining 78.2%. Pearson could increase its stake another 5%, if certain conditions are met, which Barnes & Noble has not disclosed.

Nook Media is a joint venture between Barnes & Noble and Microsoft announced in April 2012. Microsoft made a $300 million investment in Barnes & Noble’s digital reading and college business in exchange for a stake in the subsidiary company.

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01.28.2013

Fortress Paper Provides Update on Fortress Specialty Cellulose Mill

Fortress Paper Ltd. announces that the cogeneration project at its Fortress Specialty Cellulose Mill is nearing completion, with engineering and procurement completed and overall construction progress continuing and currently at approximately 94%. However, commissioning and start-up activities have incurred delays as a result of various factors, including unforeseen piping related delays, reduced manpower availability and minor scope of work adjustments. As a result, the Company now expects delivery of power to commence late in the first quarter or early in the second quarter of 2013, and anticipates additional costs in the 10-20% range for the overall cogeneration project. Hydro Quebec is aware of the postponement and the Company anticipates delivery of power pursuant to the power purchase agreement in the normal course.

The Fortress Specialty Cellulose Mill continues to ramp-up its production of dissolving pulp. Despite promising operating results in November and December 2012, the mill has encountered challenging ramp-up issues which are intrinsic to a dissolving pulp mill ramp-up. The Company expects that the implementation of its comprehensive "Operating Excellence" program will improve operating efficiency and productivity in the near future.

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01.28.2013

EuroGraph Publishes Monthly Statistics of the European Graphic Papers Industry

Total European shipments of Graphic Papers for December were down 11.3% from December 2011 and were down 4.6% for the full year.

Total European shipments of Newsprint for December were down 14.4% from December 2011 and were down 4.7% for the full year.

Total European shipments of SC-Magazine grades for December were down 9.7% from December 2011 and were down 5.0% for the full year.

Total European shipments of Coated Mechanical Reels for December were down 13.1% from December 2011 and were down 7.3% for the full year.

Total European shipments of Uncoated Mechanical for December were down 6.9% from December 2011 and were down 3.1% for the full year.

Total European shipments of Coated Woodfree for December were down 9.6% from December 2011 and were down 2.9% for the full year.

Total European shipments of Uncoated Woodfree for December were down 8.8% from December 2011 and were down 3.3% for the full year.

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01.28.2013

Oil Trades Near Highest Level in Four Months on Economic Outlook

Oil traded near the highest level in four months in New York after posting the longest run of weekly gains since April 2009, lifted by speculation that a global economic recovery will boost fuel demand.

West Texas Intermediate crude was little changed after climbing for a seventh week. Chinese industrial companies’ profits rose for a fourth month in December, the National Bureau of Statistics in Beijing said yesterday. U.S. government reports today may show durable goods orders and pending homes sales rose last month, according to Bloomberg News surveys. The market is “well supplied,” Abdalla El-Badri, secretary-general of the Organization of Petroleum Exporting Countries, said today.

“Prices have been moving upwards from continued better economic data from the world’s two largest consumers, U.S. and China,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen. “Continued improved data is required to sustain these higher levels as there remains enough uncertainty within the euro zone for prices to fall.”

Crude for March delivery was unchanged at $95.88 a barrel in electronic trading on the New York Mercantile Exchange at 11:19 a.m. London time.

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01.25.2013

RR Donnelley closing Appleton-area plant

Chicago-based printing giant RR Donnelley will close its printing facility at W6545 Quality Drive in Greenville before the end of April.

The company said in a WARN notice filed with the state Department of Workforce Development on Monday the move will affect 47 jobs.

The company said changing market conditions is behind its decision to close the Greenville plant.

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01.25.2013

Kimberly-Clark Announces Year-End 2012 Results

Kimberly-Clark Corporation today reported year-end 2012 results and provided its 2013 outlook and related key planning assumptions.

Executive Summary
•Fourth quarter 2012 net sales of $5.3 billion increased 3 percent compared to the year-ago period. Organic sales rose 5 percent, highlighted by a 9 percent increase in K-C International. Organic sales exclude the impact of changes in foreign currency rates and lost sales as a result of pulp and tissue restructuring actions.
•Diluted net income per share for the fourth quarter of 2012 was $0.68 versus $1.01 in 2011. Full-year diluted net income per share was $4.42 in 2012 and $3.99 in 2011.
•Fourth quarter adjusted earnings per share were $1.37 in 2012 compared to $1.28 in the prior year. The improvement in fourth quarter adjusted earnings per share was driven by organic sales growth and cost savings, partially offset by increased marketing, research and general spending and a higher level of expense in other (income) and expense, net.
•Full-year adjusted earnings per share were $5.25 in 2012 compared to $4.80 in 2011 and the company's previous guidance of $5.15 to $5.25. Fourth quarter and full-year adjusted earnings per share in both periods exclude costs for pulp and tissue restructuring actions. Fourth quarter adjusted earnings per share in 2012 also exclude costs for the European strategic changes announced in October of 2012. Full-year adjusted earnings per share in 2011 also exclude a business tax charge related to a law change in Colombia.
•Cash provided by operations in the fourth quarter of 2012 was an all-time record $1,119 million, up 116 percent compared to the prior year.

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01.25.2013

Huhtamaki Leads Industry by Adopting 100% Use of PEFC Certified Board Ahead of New EU Timber Regulations

As one of the world’s leading packaging and disposables manufacturers, Huhtamaki UK Ltd., has continued its pro-active commitment to the environment by taking the necessary steps to implement the sole use of PEFC (Programme for the Endorsement of Forest Certification) certified paperboard throughout its UK manufacturing.

Speaking of the initiative, John Young, UK Foodservice Sales & Marketing Director, Huhtamaki UK Ltd. said: “Huhtamaki is dedicated in its efforts to manufacturing foodservice disposables that are made using paperboard sourced from suppliers who promote good forestry practice. We are proud to demonstrate our support for the high ecological, social and ethical standards required for sustainable forest management, and ahead of the soon-to-be implemented legislation – the 2013 European Timber Regulations – we are delighted that 100% of the paperboard used within our PEFC certified UK manufacturing plant is from PEFC certified sources.”

All paper cups and food containers manufactured by Huhtamaki UK are now made from PEFC certified board, so customers can buy with confidence from the industry’s leading supplier of disposable paper products to the UK high street.

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01.25.2013

Mag Bag: Fashion Magazines Get March Boost

Fashion magazines are seeing a big uptick in ad pages for their March issues, according to Media Industry Newsletter, which recently revealed figures showing double-digit percentage increases at many big titles.

MIN reports thatVogue will have 457 ad pages in March 2013 -- up 3.5% from the previous year -- while InStyle’s March issue will have 361 ad pages, up 4%. People Style Watch is up 27% to 172 ad pages. Elle’s March issue is up 7% over 2012, to 338 ad pages, Marie Claire’s ad pages for March are up 15% over last year to 207, while Cosmopolitanincreased 13% to 130 pages. Harper’s Bazaar jumped 21% to 330 ad pages. W is up 3% to 210 ad pages, and Teen Vogue jumped 30% to 124 ad pages.

This follows a strong February for many of the same titles, with Elle’s ad pages increasing 32% compared to the same month in 2012, Allure up 31%, Vogue’s up 21%, andInStyle up 9.3%.

These results are building on a strong 2012. According to the Publishers Information Bureau, total ad pages for the year were up 18.5% at Allure, 6% atElle, 11.1% at Harper’s Bazaar, 5.4% at InStyle, 11.9% at Marie Claire, 3.8% at People StyleWatch, and 3.7% at Vogue. These figures compare favorably with an overall 8.2% decline for all consumer mags tracked by PIB.

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01.25.2013

Deluxe Reports Fourth Quarter 2012 Financial Results

Deluxe Corporation announced its financial results for the fourth quarter ended December 31, 2012.

Fourth Quarter 2012 Highlights:
• Revenue for the quarter was $387.6 million compared to $366.4 million during the fourth quarter of 2011. Revenue increased 5.8% compared to 2011, driven by 11.2% growth in Small Business Services, which included the impact of the OrangeSoda, Inc. acquisition in the second quarter. Marketing solutions and other services revenue, which also included the impact of the OrangeSoda, Inc. acquisition, increased 26.4% compared to 2011 and represented 22.5% of consolidated revenue, up from 18.8% in the fourth quarter of 2011.
• Gross margin was 64.5 percent of revenue, the same as in 2011. Increased delivery rates, material costs and performance based compensation expense in 2012 were offset by favorable impacts from price increases and the Company’s continued cost reduction initiatives.

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01.25.2013

AAA Fuel Gage & Exchange Rates

AAA Fuel Gage 1/25/13
National Unleaded Regular:
Current Average - $3.331/gallon
Month Ago Average - $3.247/gallon
Year Ago Average - $3.379/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $3.903/gallon
Month Ago Average - $3.914/gallon
Year Ago Average - $3.864/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08

Current Exchange Rates as of 1/25/13
American Dollar to Canadian Dollar = 0.995038
American Dollar to Chinese Yuan = 0.160641
American Dollar to Euro = 1.343897
American Dollar to Japanese Yen = 0.010993
American Dollar to Mexican Peso = 0.079072

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01.25.2013

WTI Crude Poised for Longest Run of Weekly Gains Since 2009

Crude headed for a seventh weekly advance in New York, the longest run of gains in almost four years, amid signs of global economic growth and concern that oil facilities in North Africa are vulnerable to militant attacks.

West Texas Intermediate crude advanced as much as 0.6 percent as German business confidence rose for a third month in January. The European Central Bank said 278 banks will hand back 137.2 billion euros ($184.4 billion) of its three-year loans next week at the first opportunity for early repayment. The U.K., German and Dutch governments yesterday urged their citizens to leave the Libyan city of Benghazi, citing a threat to Westerners.

“Global risk sentiment remains fairly upbeat,” said Andrey Kryuchenkov, a commodities analyst at VTB Capital in London, who predicts WTI will trade from $93 to $97 a barrel over the next month.

Crude for March delivery gained as much as 54 cents to $96.49 a barrel and was at $96.40 in electronic trading on the New York Mercantile Exchange at 11:29 a.m. London time. Futures climbed 0.8 percent to $95.95 yesterday and are up 0.9 percent this week.

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01.25.2013

Weyerhaeuser Reports Fourth Quarter, Full Year Results

Weyerhaeuser Company today reported net earnings of $143 million, or 26 cents per diluted share, for the fourth quarter. This compares with net earnings of $65 million, or 12 cents per diluted share, and net earnings before special items of $77 million, or 14 cents per diluted share, for the same period last year. Net sales for the fourth quarter of 2012 totaled $2.0 billion, compared with net sales of $1.6 billion for the fourth quarter of 2011.

For the full year 2012, Weyerhaeuser reported net earnings of $385 million, or 71 cents per diluted share, on net sales of $7.1 billion. This compares with net earnings of $331 million, or 61 cents per diluted share, on net sales from continuing operations of $6.2 billion for the full year 2011.

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01.25.2013

EFI Reports Fourth Quarter and Full Year 2012 Results

Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced its results for the fourth quarter and full year of 2012.

For the quarter ended December 31, 2012, the Company reported record revenue of $174.1 million, up 7% compared to fourth quarter 2011 revenue of $163.1 million. Fourth quarter 2012 non-GAAP net income was $19.8 million or $0.42 per diluted share compared to non-GAAP net income of $16.6 million or $0.36 per diluted share for the same period in 2011, up 19% and 17%, respectively. GAAP net income was $56.6 million or $1.19 per diluted share, compared to $11.5 million or $0.25 per diluted share for the same period in 2011, up 393% and 376%, respectively.

For the twelve months ended December 31, 2012, the Company reported revenue of $652.1 million, up 10% year-over-year compared to $591.6 million for the same period in 2011. Non-GAAP net income was $61.5 million or $1.29 per diluted share, compared to non-GAAP net income of $53.1 million or $1.12 per diluted share for the same period in 2011, up 16% and 15%, respectively. GAAP net income was $83.3million or $1.74 per diluted share, compared to GAAP net income of $27.5 million or $0.58 per diluted share for the same period in 2011, up 203% and 200%, respectively.

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01.25.2013

Coupon Facts Report Indicates Marketers Continue Steady use of Coupons

Valassis, a leader in intelligent media delivery, released today the annual topline report of U.S. coupon trends prepared by its subsidiary, NCH Marketing Services Inc., providing retailers and marketers with redemption response insights for manufacturer coupons that are offered to consumers. The findings include that consumer packaged goods (CPG) manufacturers issued a steady flow of coupons in 2012, distributing 305 billion coupons to consumers, the same quantity as the year prior, although the marketing objectives were substantially different for those coupons.

Consumers' expectations for value in their purchasing decisions remained strong throughout 2012. NCH's August 2012 Consumer Survey found that 79.8% of consumers regularly shop using CPG coupons, very similar to the 80.6% prior year result, and well above the 63.6% who reported regularly using coupons in the pre-recession 2007 study.

Additionally, the BIGinsight Monthly Consumer Survey in December 2012 found that 53.7% of consumers continued to focus more on needs than wants while shopping. Those results are very similar to the 52.1% in December 2011 and 52.7% in December 2010 who also said they focus more on needs than wants. These surveys confirm that a strong value-oriented mindset has persisted for a large segment of the population despite some improvements in overall consumer confidence measures and unemployment rates in 2012.

While consumer desire for saving with coupons continued, and the quantity of coupons made available to them was the same, CPG marketers have made other strategic shifts, including which products are promoted with coupons, how consumers receive coupons and various tactical offer-level changes, all of which affected industry redemption volume.

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01.24.2013

Xerox Reports Fourth-Quarter Earnings

Xerox announced today fourth-quarter 2012 results that include adjusted earnings per share of 30 cents. As planned, the company’s fourth-quarter earnings include 5 cents of restructuring. Adjusted EPS excludes 4 cents related to amortization of intangibles, resulting in GAAP EPS of 26 cents.

In the fourth quarter, total revenue of $5.9 billion was down 1 percent or flat in constant currency. Revenue from the company’s services business was up 7 percent and represented 52 percent of total revenue. Revenue from the company’s document technology business, which represents 42 percent of revenue, was down 8 percent as economic and market conditions continued to put pressure on sales of document systems, supplies and related service.

Fourth-quarter operating margin was up 0.3 points to 10.3 percent. Gross margin was 31.5 percent, and selling, administrative and general expenses were 18.5 percent of revenue.

The company generated $1.8 billion in cash from operations during the fourth quarter, which includes $269 million of net cash from the sale of certain finance receivables.

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01.24.2013

UPM Signs Agreement on the Sale of Assets of UPM Stracel in France

UPM has signed an agreement on the sale of assets and part of the land of the UPM Stracel paper mill site with Blue Paper SAS, the joint venture company of VPK Packaging Group NV and Klingele Papierwerke.

The transaction is expected to be closed during March 2013 once all legal and administrative conditions will be fulfilled.

UPM stopped the production of coated magazine paper on the mill on 4th January 2013.
Blue Paper SAS will convert the mill to produce recycled fibre-based fluting and test-liner. The production is expected to start after completing investments in September 2013. Blue Paper SAS will create 130 new jobs at the mill that will be offered to former Stracel employees.

The sale of Stracel was part of UPM’s plan to adjust its magazine paper and newsprint paper capacity to match the needs of its global customer base originally announced in August 2011.

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01.24.2013

Global Ad Spend Remains Strong, TV Dominates

Global advertising had a strong first nine months of 2012, with television advertising still holding the biggest share of advertising dollars and outperforming overall global growth.

Nielsen says ad spending rose 3.3% from January to September last year, with TV advertising up 4.3% during the period.

Third-quarter TV advertising growth soared, lifting the pace over the first six months of the year, when TV growth was 3.1%. In North America alone, there was high double-digit growth, up 13.6% in the third quarter -- from Olympic and political advertising, according to some analysis.

Although other new media platforms are growing, TV continues to dominate in overall global advertising with a 61.8 share. Newspapers remain second at a 19.7 share; magazines, 7.9 share; radio, 5.2; Internet, 2.7; outdoor, 2.6, and cinema advertising, 0.3.

Nielsen says the two most improving media from the same period a year ago were the Internet, at 7.7% and cinema, at 9.2%.

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01.24.2013

Publishers Get Smart Innovation with new Augmented Reality Service from Fry Communications

Fry Communications brings another smart innovation to publishers and marketers by offering Augmented Reality (AR) services through Layar.

By integrating AR, publishers are able to bring interactivity to the printed page through the reader’s smartphone, allowing traditional magazine pages to include content for videos, social media, and e-commerce. This extra layer of content increases engagement with readers, enlarges the reach of the publisher through the social media feeds, and provides a way for publishers to generate revenue by selling feature-rich ads with amazing direct lead generation capabilities.

Publishers of shopping guides particularly benefit from the “Buy Now” feature. By making content shoppable with the addition of a single button, publishers make their page a point of sale for extra revenue for the advertiser or featured product.

Fry offers these services through Layar, the world’s largest augmented reality and interactive print platform. Layar provides a comprehensive and solid product offering of AR content creation and delivery services to meet a variety of publisher needs and price points. For example, Layar Creator puts AR content creation firmly in the hands of the publisher at an accessible price.

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01.24.2013

Oil Trades Near One-Week Low on U.S. Supplies, Seaway Pipeline

Oil traded near the lowest level in a week in New York after U.S. crude stockpiles gained and capacity on the Seaway pipeline was reduced.

West Texas Intermediate was little changed after dropping yesterday by the most in a month. Crude supplies rose by 3.2 million barrels last week, the biggest increase in six weeks, the industry-funded American Petroleum Institute said. An Energy Department report today may show inventories climbed by 2.2 million barrels, according to a Bloomberg News survey. London- traded Brent’s premium to WTI widened yesterday after Enterprise Products Partners LP (EPD) said capacity was limited on the Seaway link, curbing shipments from Cushing, Oklahoma, the delivery point for New York futures.

“The market could resume its move lower should the Energy Department report this afternoon confirm robust gains in U.S. crude inventories,” Andrey Kryuchenkov, an analyst at VTB Capital in London, said in an e-mail. Prices may decline to $93 a barrel, he said.

WTI crude for March delivery was at $95.43 a barrel, up 20 cents, in electronic trading on the New York Mercantile Exchange at 11:57 a.m. London time. The contract dropped $1.45 yesterday, the most since Dec. 21, to the lowest closing level since Jan. 16.

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01.24.2013

TC Transcontinental Broadens Internal and External Scope of its Paper Purchasing Policy

Already known in the industry for its forward-looking environmental strategy, TC Transcontinental is proud to announce that it is broadening the internal and external scope of its Paper Purchasing Policy by stipulating, among other things, that recycled or certified papers be used for its printing and own publishing activities. As part of TC Transcontinental's commitment to continual improvement, the Corporation has updated its policy and reiterates its commitment to encouraging its customers to choose certified papers when recycled paper is unavailable, so that by working together we can significantly diminish environmental and social impacts.

Out of a wish to be transparent and to make customers and consumers more aware of high conservation value forest and responsible forest management, TC Transcontinental now plans, for instance, to systematically place the chain-of-custody logo on all TC Media publications. The organization will now also include messages to encourage consumers to recycle its products, aiming to increase the availability of paper containing recycled post-consumer fibre. The first steps in this direction and initial measures to ensure all of its publications display the certified paper logo have already been implemented. TC Transcontinental also reviewed the procurement standards for its photocopiers, printers, official documents, etc., to ensure that papers from recycled or certified sources are used.

Furthermore, the Corporation has decided to give preference to suppliers who monitor and promote the continuous reduction of environmental impacts and to strongly encourage them to share their information on air and water contaminants and landfill usage.

Its new paper purchasing policy will enable TC Transcontinental to more accurately measure the results of its ongoing efforts and to share them with customers and investors, stakeholders and organizations interested in its sustainability efforts. TC Transcontinental drew on the expertise of environmental organization Canopy in updating the Paper Purchasing Policy, as part of their ongoing collaboration to protect Canada's boreal forests and high conservation value forests globally.

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01.24.2013

Rayonier Reports Fourth Quarter and Full Year 2012 Results

Rayonier today reported fourth quarter net income of $76 million, or 59 cents per share, compared to $56 million, or 45 cents per share, in the prior year period. The 2011 results included a $4 million increase in a disposition reserve for a closed mill site. Excluding this item, 2011 fourth quarter pro forma net income was $60 million, or 48 cents per share.

Full year 2012 net income totaled $279 million, or $2.17 per share, compared to $276 million, or $2.20 per share, in 2011. In addition to the disposition reserve, the full year 2011 results also included a $16 million tax benefit from the reversal of a reserve relating to the taxability of the 2009 alternative fuel mixture credit (AFMC). Excluding these items, full year 2011 pro forma net income was $264 million, or $2.11 per share.

Cash provided by operating activities was $446 million for 2012 compared to $432 million for 2011. Full year cash available for distribution (CAD)1 was $304 million versus $287 million in 2011.

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01.24.2013

Meredith Delivers Strong Fiscal 2013 Second Quarter And First Half Results

Meredith Corporation, the leading media and marketing company serving American women, today reported fiscal 2013 second quarter earnings per share of $0.79, including a previously announced special charge of $0.10 per share. Total Company revenues rose 10 percent to $361 million, including an 18 percent increase in advertising revenues to $217 million.

Excluding the special charge, earnings per share grew 27 percent from the prior-year period to a record $0.89, and operating profit margin increased more than a full percentage point to 18 percent.

For the first six months of fiscal 2013, Meredith's earnings per share were $1.34. Total Company revenues increased 9 percent to $715 million, including a 15 percent increase in advertising revenues. Excluding the special charge, earnings per share rose 22 percent from the prior-year period to $1.44.

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01.24.2013

Grainger Reports Record Results for Year Ended December 31, 2012

Grainger today reported record results for the year ended December 31, 2012. Sales of $9.0 billion increased 11 percent versus $8.1 billion in 2011. Net earnings of $690 million increased 5 percent versus $658 million in 2011. Earnings per share of $9.52 increased 5 percent versus $9.07 in 2011.

For the full year, the company generated $816 million in operating cash flow versus $746 million in 2011. Capital expenditures for the year were $250 million versus $197 million in 2011, driven primarily by investments to expand the distribution center network in North America. The company also used cash to fund two acquisitions. For the full year, Grainger bought back approximately 1.7 million shares of stock for $341 million and has 5.3 million shares remaining under the current repurchase authorization. Dividends paid in 2012 totaled $220 million. For the full year, Grainger returned $561 million in cash to shareholders in the form of dividends and share repurchases.

Sales for the 2012 fourth quarter of $2.2 billion increased 7 percent versus $2.1 billion in the 2011 fourth quarter. Net earnings of $156 million increased 5 percent versus $148 million in 2011. Fourth quarter earnings per share of $2.17 increased 6 percent versus $2.04 in 2011.

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01.23.2013

Sun Chemical Publishes 2012 Sustainability Report

Sun Chemical released its 2012 Sustainability Report, which showcases Sun Chemical’s leadership in eco-efficiency through established data-driven metrics, as well as examples of how raw material suppliers are contributing to the company’s environmental footprint.

The report describes a balanced scorecard approach that Sun Chemical uses to assess suppliers’ environmental performance and provides details about questionnaires that were sent to suppliers asking about their sustainability policies, carbon footprint emissions, the potential impact on deforestation, etc.

The report cites two case study examples of raw material suppliers who published sustainability reports and described their contributions and practices to eco-efficiency.

The report shows data collected every year since 2005 from approximately 170 Sun Chemical sites in over 25 countries. The key sustainability metrics measured in the data include: energy consumption/conservation at production and non-production sites, the energy carbon footprint at the production sites, process waste reduction, water consumption, materials safety, and employee safety.

“Our sustainability policy pushes us as a company to improve the eco-efficiency of our processes and products,” Andrzejewski said. “Our R&D efforts are a pivotal part of this process as we provide our customers with solutions that will be both eco-friendly and save them money. These data-driven sustainability reports have played a key role in helping our customers achieve many of their eco-efficiency goals.”

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01.23.2013

International Paper shutting down one of three Augusta machines

International Paper on Tuesday announced that it will eliminate 75 positions at its Augusta mill when it shuts down one of its three paperboard production lines next month.

The move is prompted by a global slowdown in demand, said Greg Gibson, the vice president of International Paper’s coated paperboard business.

“The projected growth of global coated paperboard supply, coupled with slower growth in the demand for our products, has
made it necessary to permanently reduce our manufacturing footprint,” Gibson said.

The paperboard production machine, running since the 1960s, is the smallest in the system, which includes sister plants in Riegelwood, N.C., and Texarkana, Texas. It produces about 140,000 tons of coated paperboard annually, which is used to make folding cartons and packaging liners.

The shutdown will reduce the capacity of the Mike Padgett Highway mill by about 20 percent, said Samantha Hood, the company’s communications manager.

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01.23.2013

AEP Industries Inc. Reports Fiscal 2012 Results

AEP Industries Inc. today reported financial results for its fiscal year ended October 31, 2012.

Net sales for fiscal 2012 increased $177.7 million, or 18%, to $1,152.5 million from $974.8 million for fiscal 2011. Excluding the impact of the Company's October 14, 2011 acquisition of Webster Industries ("Webster"), the increase was the result of an increase in sales volume of 5% for fiscal 2012, combined with a 1% increase in average selling prices. The acquisition of Webster added an additional $114.3 million in net sales during fiscal 2012.

Gross profit for fiscal 2012 was $182.7 million, an increase of $54.0 million, or 42%, compared to the prior fiscal year. Excluding the decrease of the LIFO reserve change of $11.6 million year-over-year and $12.2 million in additional gross profit contributed from Webster, gross profit increased $30.2 million primarily due to increased sales volumes and improved material margins.

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01.23.2013

von Drehle Acquires Mississippi River Pulp and Paper Natchez Site

von Drehle Corporation said that it has purchased Mississippi River Pulp and Paper in Natchez, Mississippi.

Terms of the deal were not disclosed.

In a written statement, von Drehle said, "This acquisition provides the necessary de-inking and facility space for future mill and converting expansion."

von Drehle noted that it intends to maintain the site's current production capabilities.

"We believe the people, community, and state are a good fit for von Drehle and we appreciate their support throughout this process," said Randy Bergman, COO of von Drehle Corporation.

Founded in 1974, the von Drehle Corporation is a privately held company headquartered in Hickory, North Carolina, that manufactures Towel, Tissue and Dispenser products for the Away-from-Home market.

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01.23.2013

Caraustar Announces A Price Increase On All Paper Tube And Core Products

Caraustar Industries, Inc. announced a price increase of up to 4% on all paper tube and core product lines. The increase will be effective with shipments beginning March 1, 2013. The increase is primarily in response to increases in recycled paperboard prices and other costs.

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01.23.2013

Summit Business Media Closes Print Edition of Treasury & Risk, Selling Futures Magazine

Summit Business Media has shut down the print version of Treasury & Risk magazine and is in advanced talks to sell Futures. The moves are part of on ongoing adjustment of resources towards digital and brands that offer scale in core markets served.

In other words, the company is focusing on developing only its market verticals that offer the best opportunities for multiplatform buildouts, while closing or selling off the ones that don't.

While Treasury & Risk will no longer be published in print, the company will continue to support the brand digitally, says John Whelan, executive vice president of Summit's media division. Summit will also work with core advertisers to build custom content solutions associated with the brand's audience.

"Where the product doesn't fit we're divesting, but where it is a fit we are repositioning it within the portfolio," he says. "As we migrate to an increasingly all-digital environment, that ability to deliver scale in a digital format is really important."

Futures, he says, no longer scales across Summit's core markets, but is profitable and a viable brand on its own. The company is in advanced talks for a transfer of assets, he says.

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01.23.2013

Oil Trades Near Four-Month High Before Vote on U.S. Debt

Oil traded near the highest price in four months in New York on speculation that the U.S. will lift its debt limit, offsetting forecasts that fuel inventories increased in the world’s largest crude consumer.

West Texas Intermediate was little changed after gaining 0.7 percent yesterday as President Barack Obama’s administration said it welcomes a move by House Republicans to vote today on raising the debt ceiling through mid-May. U.S. crude stockpiles probably rose last week, according to a Bloomberg News survey before a government report tomorrow. Deutsche Bank AG boosted its growth forecast for oil demand in China.

“We expect some jitters in oil prices leading up to discussion of the debt ceiling,” said Michael Poulsen, an analyst at Global Risk Management Ltd. in Middelfart, Denmark, “U.S. politicians will probably reach a deal that kicks the much-dented can down the road. A real structural reform looks a bit unlikely.”

WTI crude for March delivery was at $96.66 a barrel, down 2 cents, in electronic trading on the New York Mercantile Exchange at 11:27 a.m. London time.

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01.23.2013

American Forest & Paper Association Releases December 2012 Kraft Paper Sector Report

The American Forest & Paper Association released its December 2012 Kraft Paper Report on Friday, Jan. 18.

Total Kraft paper shipments were 118 thousand tons, a decrease of 12 percent compared to the prior month. While bleached Kraft paper shipments increased year-over-year 22 percent, the 17 percent year-over-year decline in shipments of the larger segment - unbleached Kraft paper - was significant enough to bring overall Kraft paper shipments down compared to 2011. Total month-end inventory increased 13 percent to 85.7 thousand tons this month compared to November 2012 month-end inventories.

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01.23.2013

American Forest & Paper Association Releases December 2012 Paperboard Statistics Report

The American Forest & Paper Association released its December 2012 U.S. Paperboard Report on Thursday, Jan. 17.

Total boxboard production increased by 6.4 percent compared to December 2011 but decreased 0.4 percent from last month. Unbleached Kraft Boxboard production increased over the same month last year and increased compared to last month. Total Solid Bleached Boxboard & Liner production increased compared to December 2011 and increased compared to last month. The production of Recycled Boxboard increased compared to December 2011 but decreased when compared to last month.

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01.23.2013

American Forest & Paper Association Releases December 2012 Containerboard Statistics Report

The American Forest & Paper Association released its December 2012 U. S. Containerboard Statistics Report on Thursday, Jan. 17.

Containerboard production grew 1.5 percent over November 2012 and 2.3 percent over the same month last year. However, the month-over-month average daily production decreased 1.8 percent. The containerboard operating rate for December 2012 lost 1.7 points over November 2012, from 96.9 percent to 95.2 percent.

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01.23.2013

RockTenn Reports First Quarter Fiscal 2013 Results

RockTenn today reported earnings for the quarter ended December 31, 2012 of $1.18 per diluted share and adjusted earnings of $1.35 per diluted share. Adjusted earnings per share increased 14% over the prior year quarter.

Net sales of $2,287 million for the first quarter of fiscal 2013 increased $19 million compared to the first quarter of fiscal 2012. Segment income of $209 million increased $16 million or 8% over the prior year quarter.
RockTenn’s restructuring and other costs and operating losses and transition costs due to plant closures were $0.17 per diluted share after-tax, for the first quarter of fiscal 2013. These costs consisted primarily of $9 million of pre-tax facility closure charges and $7 million of pre-tax integration costs.

RockTenn Chairman and Chief Executive Officer James A. Rubright stated, “Our 14% adjusted earnings per share increase over the prior year quarter reflects the progress we’ve made in the operating performance of our Corrugated Packaging segment and higher pricing from the fall 2012 containerboard and box price increases. Corrugated Packaging segment EBITDA margins increased to 15.4% for the quarter.”

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01.23.2013

Cenveo Completes Refinancing

Cenveo Corporation, a wholly-owned subsidiary of Cenveo, Inc. announced that it obtained a $50 million unsecured term loan due 2017 ("Unsecured Term Loan") from Macquarie Capital. The Company used the proceeds from the Unsecured Term Loan, plus available cash and borrowings under its revolving credit facility to repay the remainder of its 7.875% senior subordinated notes due 2013 plus accrued and unpaid interest.

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01.23.2013

Greenpeace back to raising alarm over Boreal forest

Greenpeace has returned to its adversarial tactics with regard to the Canadian forest products industry. The environmental organization expressed its disappointment with the cooperative, industry-environmentalist working arrangement of the Boreal Forest Agreement late last year by quitting the group. Greenpeace quickly followed up with the release of the “Boreal Alarm”, a report “identifying five endangered Boreal forest areas that require immediate conservation planning and protection.”

Greenpeace is calling for the immediate suspension of logging in these forests of Quebec, Ontario and Manitoba and is advising wood products customers to check their supply chain to ensure they are not sourcing from these forests.

Resolute Forest Products, a company which Greenpeace alleges is logging in critical caribou habitat, is active in three of the five zones, including the Montagnes Blanches and Trout Lake-Caribou Forests.

Reported in the Montreal Gazetter on Jan. 16, a spokesperson for Resolute said that Greenpeace’s new report was repeating “erroneous, deceptive and misleading” allegations it made against the company in December.

“This behaviour by Greenpeace is absolutely irresponsible, and it represents a tremendous disservice to the tens of thousands of good Canadians who work in the forest sector,” said Seth Kursman, the company’s vice-president of communications, sustainability and government affairs.

“Canadian forestry practices are among the very best in the world.”

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01.23.2013

Rayonier to Sell Wood Products Business to Interfor

Rayonier announced today that it has reached agreement to sell all of the assets of its Wood Products business to International Forest Products Limited (Interfor) for $80 million. The sale, expected to close in the first quarter, will result in an after-tax gain of approximately $40 million.

Rayonier's Wood Products business, headquartered in Baxley, Ga., consists of three lumber mills located in Baxley, Swainsboro and Eatonton, Ga. As part of the transaction, Interfor has agreed to hire all 260 current Wood Products employees. The three mills contributed approximately $10 million in operating income to Rayonier in 2012.

“This sale represents another key move in our strategy to fully position our manufacturing operations in the specialty chemicals sector,” said Paul Boynton, Rayonier chairman, president and CEO. “At the same time, the conversion of our commodity fluff pulp business to cellulose specialties remains on track for mid-2013 startup.

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01.23.2013

Courier Starts Strong in New Fiscal Year

Courier Corporation, one of America’s leading innovators in book manufacturing, publishing and content management, today announced results for the quarter ended December 29, 2012, the first quarter of its 2013 fiscal year. Revenues for the quarter were $64.8 million, up 3% from last year’s first-quarter sales of $62.9 million. Net income for the quarter was $2.4 million or $.21 per diluted share, up from $1.5 million or $.12 per diluted share in the first quarter of fiscal 2012, which included charges related to severance and post-retirement benefits and a gain from asset sales; excluding those items, net income for fiscal 2012’s first quarter was $.17 per diluted share. Details of those items can be found in the tables at the end of this release.

While the revenue increase was modest overall, larger gains were achieved in religious sales and at Courier Digital Solutions, which produces customized, offset-equivalent four-color academic textbooks and other short-run books using HP digital inkjet technology. During the quarter Courier announced plans to open a second digital facility in Indiana.

“It was a solid quarter in our book manufacturing business, led by Courier Digital Solutions,” said Courier Chairman and Chief Executive Officer James F. Conway III. “Our investments in content management software and four-color digital inkjet technology have strengthened our leadership in the education market and brought us new business in specialty trade as well.

“In anticipation of further growth, we have begun work in preparation for the April startup of a second fully-integrated digital operation at our four-color offset facility in Kendallville, Indiana. The result will be to offer customers unprecedented flexibility in matching their print strategies to their inventory requirements across the full life cycle of every title, while facilitating nationwide distribution.

“In our publishing segment, revenues were down from last year, but the segment’s operating loss was smaller due to the effects of cost-cutting measures, several well-received new titles, and consumers’ positive response to our growing offering of e-books.

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01.22.2013

Walmart Canada Announces Expansion Plans

Today Walmart Canada announced that it plans to complete at least 37 supercentre projects in the company’s next fiscal year, which runs from February 1, 2013 to January 31, 2014. The company also announced it will be expanding its distribution network to support its ongoing store growth and expansion plans.

The distribution centre projects, construction of new stores, and expansion, remodelling or relocation of existing stores represents an investment of more than $450 million in the Canadian economy. These expansion plans are expected to generate more than 7,000 store, trade and construction jobs.

“Our associates across the country have done an incredible job this past year serving our customers and opening a record number of new stores and supercentres,” said Shelley Broader, president and CEO of Walmart Canada. “This year, we are ramping up our focus on lowering prices and helping customers lower their cost of living, as we continue to bring our supercentre format to more Canadians.”

Walmart’s supercentres provide Canadians with a one-stop shopping experience. Each stores carries close to 100,000 different products ranging from apparel and home decor to electronics and grocery, plus specialty services such as pharmacies, garden centres, and vision centres. The company will also introduce the supercentre format to locations in the Maritimes this year.

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01.22.2013

Duluth News Tribune moving production to new state-of-the-art press

As he talked about the Duluth News Tribune’s new state-of-the art press, publisher Ken Browall’s excitement showed.

“For those of us who have been in the business, it’s like a work of art in progress,” said Browall, who started at age 10 with a newspaper route. “You stand there. You’re mesmerized by the beauty of it.”

The News Tribune is moving its production operations from the basement of its downtown Duluth building to a new 35,000-square-foot production center on Airpark Boulevard. There, the new $2.67 million Goss offset press has been assembled and is up and running on a limited basis as pressmen learn the new technology. It replaces an old Goss flexo press that’s near the end of its lifespan.

Use of the new press is being phased in. The Sunday comics and Scrapbook sections started being printed there early this month, then shipped downtown and inserted in the rest of the paper. The printing of the News Tribune’s sister papers — the Pine Journal, Lake County News-Chronicle, Duluth Budgeteer News and some shoppers — has been moved there, with the Superior Telegram to follow. Like the News Tribune, all are owned by Forum Communications Co., which had earlier consolidated the area’s printing operations in Duluth.

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01.22.2013

Brent Oil Rise to One-Week High as Japan Plans Stimulus

Brent crude advanced to the highest level in more than a week as Japan’s central bank said it will expand asset purchases to lift the world’s third-biggest oil consumer out of the recession.

Futures rose as much as 0.7 percent to the highest since Jan. 10. The Bank of Japan (8301) will introduce open-ended asset purchases from January 2014 to boost the economy. Euro-area finance ministers yesterday approved a payout of 9.2 billion euros ($12.3 billion) to Greece this month.

“Expectations for stimulus in Japan have been propping up markets in otherwise thin trading,” said Andrey Kryuchenkov, an analyst at VTB Capital in London who predicts Brent may find resistance at $112.50 a barrel this month.

Brent for March settlement climbed as much as 77 cents to $112.48 a barrel, and traded for $112.37 as of 11:08 a.m. on the ICE Futures Europe exchange in London.

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01.22.2013

Packaging Corporation of America Reports Record Fourth Quarter and Full Year 2012 Results

Packaging Corporation of America today reported fourth quarter 2012 net income of $61 million, or $0.63 per share. The reported results included net income of $3 million, or $0.03 per share, from state income tax adjustments and after tax charges of $1 million, or $0.01 per share, from plant closures. Excluding these items, net income was $59 million, or $0.61 per share, compared to fourth quarter 2011 net income of $39 million, or $0.40 per share. Net sales in the fourth quarter were $737 million, up 13% compared to the fourth quarter of 2011.

The $0.21 per share increase in earnings, excluding special items, was driven by higher containerboard and corrugated products price and mix ($0.12), higher volume ($0.09) and lower costs for recycled fiber ($0.04) and energy ($0.02). These items were partially offset by higher costs for labor and benefits ($0.05).

Full year earnings, excluding special items, were $201 million, or $2.06 per share, compared to 2011 earnings of $162 million, or $1.61 per share. The $0.45 per share increase in earnings was driven by higher volume ($0.33) and price and mix ($0.06), lower costs for energy ($0.17), recycled fiber ($0.12) and chemicals ($0.05) and a lower share count ($0.05). These items were partially offset by higher costs for labor and benefits ($0.14), depreciation ($0.08), interest ($0.06) and transportation ($0.05). Net sales in 2012 were a record $2.844 billion, up 9% over 2011. Full year earnings, including special items, were $164 million, or $1.68 per share, compared to 2011 earnings of $158 million, or $1.57 per share. Special items for both years are shown on the schedule included in this press release.

Corrugated products shipments for the fourth quarter were up 5.8% per workday, and total shipments were up 7.6% with one more workday compared to last year’s fourth quarter. Containerboard production was 652,500 tons, up 12,000 tons over the fourth quarter of 2011. For the full year, PCA mills produced 2.600 million tons of containerboard which is essentially 100% of capacity. PCA ended the year with its containerboard inventories about 6,000 tons above 2011 year-end levels.

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01.21.2013

Polypropylene prices jump 15 cents pound

A major price hike has hit the North American polypropylene market, sending prices up an average of 15 cents per pound since Jan. 1.

Average selling prices in the region for polystyrene also are up 3 cents per pound since Nov. 1, while suspension PVC prices in the region have dropped 1 cent per pound since Dec. 1.

The 15-cent PP increase is shown on this week's Plastics News resin pricing chart, along with a 1-cent increase for that material that occurred in December. The net change on the PN chart is an upward move of 16 cents.

The January move is the eighth double-digit price swing to hit the North American PP market since January 2011. Increased volatility has been a concern of both buyers and producers of the material.

The recent increase again was tied in to a major fluctuation in the price of propylene monomer feedstock. Propylene supplies have grown tight because of a number of planed and unplanned outages in production throughout the U.S. Gulf Coast, including a lengthy shutdown at a plant operated by Petrologistics LLC in the Houston area.

"This [increase] is all supply-related," said Scott Newell, a PP market analyst with Resin Technology Inc. in Fort Worth, Texas. "And we're now moving into the season of planned outages."

Tighter regional PP inventories also are allowing producers to gain pricing power, Newell added, pointing out that PP inventories at the processor level fell more than 200 million pounds during 2012.

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