Paperclips Blog | Fraser Papers Results

  • 07.11.2012

    Going paperless may not be better for the environment, according to Two Sides

    Two Sides today announced a nationwide initiative to assist major U.S. companies in developing and implementing best practices related to environmental marketing claims for print and paper. According to Two Sides research on 94 leading companies, 50 percent of them are using unsubstantiated environmental claims to encourage consumers to switch to lower-cost electronic billing and services.

    “The objective of our new program is to offer our expertise at no cost to U.S. corporations who currently make environmental claims about print and paper relative to online billing and communication. Our research has shown that many companies are using negative claims that are not verifiable or factual related to the environmental impacts of print and paper, and as a result do not meet best practice guidelines for environmental marketing,“ says Two Sides President and COO Phil Riebel. “Two Sides and our 60 member companies are committed to sharing our collective expertise on the life-cycle and environmental impacts of print and paper. Our discussions to date have been very productive and the end result has been more accurate claims that are not damaging to the paper, printing and mailing sectors that provide over 8 million U.S. jobs.”

    Two Sides, which represents companies across the graphic communications supply chain, will assist companies to develop and follow best practices for environmental marketing, including the use of science-based and verifiable information. The non-profit conducted a similar campaign in the United Kingdom with great success. More than 80 percent of the U.K. companies approached – including well-known names like British Telecom, Barclaycard, Vodafone and EON Energy – agreed to change their messaging to eliminate misleading or factually incorrect environmental claims about the use of print and paper.

    “The fact is, print and paper products made in the U.S. have a great environmental story to tell,” Riebel says. “Paper comes from a renewable resource – trees grown in responsibly managed forests – and it’s recycled more than any other commodity, including plastics, metals and glass. The continuing demand for sustainably sourced paper gives U.S. landowners and families a financial incentive to continue managing their lands responsibly and keep them forested rather than selling them for development or other non-forest uses. Thanks in great part to the sustainable forestry practices advanced by the paper and forest products industry, the volume of growing trees in U.S. forests has increased nearly 50 percent over the last half century.”

    “Many major U.S. companies have implemented credible sustainability initiatives that focus on true performance measurement and factual environmental claims” Riebel says. “However, in some cases marketing seems to take the upper hand on science. Two Sides is committed to help change this, and our experience to date shows that we’ve been successful in finding mutually acceptable solutions.”

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  • 07.11.2012

    AdSense research reveals the power of magazine advertising

    Research launched today by IPC Media has found that magazines drive consumers towards purchase, are highly engaging and trusted, and are the medium most likely to hold consumers' sole attention.

    The study, AdSense, sought to test the effectiveness of magazine advertising and understand its role in the overall media mix. 13 brands across six categories were included in the project.

    AdSense evaluated two different advertisements for each brand and analysed the impact the ads had on consumers.

    The study found that magazines are highly engaging, with 49% of respondents turning to magazines for "me time" and 45% in order to treat themselves.

    AdSense also discovered that regardless of the age of the consumer, magazines are trusted. Here are some of the findings: 18% of all magazine readers said they trust magazine advertising and among heavy magazine readers this rises to 24%; Overall, magazine ads are 80% more likely to be trusted than those in newspapers and 125% more trusted that radio ads...

    The study also looked at the action that consumers took after seeing a campaign in a magazine. AdSense discovered that: 46% of women were more likely to purchase a product that they've seen advertised in a magazine; 14% actually purchased the brand advertised; 10% had recommended the brand; Nearly one in five (18%) had talked about the brand...

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  • 07.11.2012

    BuzzMedia Buys Spin

    BuzzMedia, a digital network of pop culture, entertainment and music sites, has acquired music magazine Spin. BuzzMedia will integrate Spin's digital assets, but the fate of its print magazine, while presently viewed as valuable by CEO Tyler Goldman, is unclear in the long term.

    According to Goldman, Spin had not officially been on the block. Rather, BuzzMedia approached the brand with an offer. "We've been very active in music and generally our focus strategically has been in building out and acquiring brands that are defined around single topics," Goldman tells Folio:. "Then we believed we could build out a broader hub rather than a spoke model and Spin fit that with its coverage across the different types of music and with the the depth of its narrative."

    Goldman says another attraction to Spin is its brand value, which, in the digital realm, goes a long way with consumers and advertisers. "In pop culture, brands are very important. The best brands have the best story-telling," he says. "Particularly in the digital world, the ability to tell a story around a brand works very well with advertisers, too, and Spin lines up very well along these lines."

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  • 07.11.2012

    Twin Rivers Paper Launches a Natural Packaging Paper

    Twin Rivers Paper Company, a leader in lightweight specialty packaging, label and publishing papers, has strengthened its commitment to sustainable packaging with the release of Acadia Natural, a compostable and recyclable paper made from unbleached pulp. This product design offers a natural substrate for packaging applications such as fast-food sandwich wraps, french fry and carry-out bags, and basket liners.

    FDA-compliant for direct and indirect food contact, Acadia Natural offers the optimal solution for Quick Serve Restaurant (QSR), food service, and retail food applications, where high performance and sustainability are essential. For oil and grease resistance, Acadia Natural is available in an Acadia Natural OGR version. Both products bring excellent printability, runnability and convertability to packaging applications.

    “Acadia Natural answers the growing demand for natural alternatives for packaging papers and represents an ideal choice for companies looking to have their packaging reflect their own sustainability initiatives,” says Dave Deger, Director of Business Development and Marketing.

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  • 07.11.2012

    Retailer container traffic to see uptick in July

    Import cargo volume at the nation’s major retail container ports is expected to increase 1.6% in July compared with the same month last year, and modest year-over-year increases are expected through the holiday season shipping cycle, according to the monthly Global Port Tracker report released Tuesday by the National Retail Federation and Hackett Associates.
     
    “Whether consumers are going to have the confidence to spend during the next few months depends on what happens with employment, but retailers are being cautiously optimistic,” said NRF VP supply chain and customs policy Jonathan Gold. “Sales can fluctuate from month to month, but these import numbers show that retailers are still expecting this year to be better than last year.”
     
    U.S. ports followed by Global Port Tracker handled 1.34 million Twenty-foot Equivalent Units in May, the latest month for which after-the-fact numbers are available. That was up 4.1% from April and 2.3% from May 2011. One TEU is one 20-ft. cargo container or its equivalent.
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  • 07.11.2012

    Mondi Group to acquire 93.4% of Nordenia International AG

    Mondi Group, a leading international paper and packaging company, is pleased to announce it has agreed to acquire 93.4% of the outstanding share capital of Nordenia International AG from funds managed by Oaktree Capital Management, L.P.1 and certain other minority shareholders for a total cash consideration of EUR240 million (the “Acquisition”). In addition, Mondi Group will assume EUR398 million of debt and debt-like liabilities2 implying an enterprise value for 100% of the Company of EUR655 million3.

    Nordenia is an international supplier of innovative consumer packaging solutions and hygiene components with 12 fully invested operating facilities located in seven countries across Europe, North America and Asia. Additionally, a wholly owned greenfield plant currently being constructed in China is expected to begin operating in early 2014. Based on Nordenia’s EBITDA4 and EBIT4 for the year ended 31 December 2011 of EUR99 million and EUR70 million, respectively, the implied enterprise value equates to 6.6 times 2011 EBITDA and 9.3 times 2011 EBIT.

    The EUR240 million cash consideration payable for the Acquisition will be funded from a new EUR250 million two year committed bank debt facility.

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  • 07.11.2012

    Next Issue Bows iPad App

    Next Issue Media, a consortium formed by major magazine publishers to drive sales of digital magazines, is unveiling a long-awaited app for the iPad.
     
    It includes a digital newsstand selling single copies and subscriptions, as well as a premium “all you can read” model  often been described as “Netflix for magazines.”
     
    The Next Issue app, previously available only on Android devices with Honeycomb, gives iPad owners access to digital editions for an array of titles from Time Inc., Conde Nast, Hearst, Meredith and News Corp., which came together to form Next Issue in December 2009.
     
    Currently, 39 titles are available, including Better Homes and Gardens, Bon Appétit, Elle, Fortune, Golf Digest, GQ, Popular Mechanics, Time, Vogue and Wired, with more titles scheduled to come online by the end of the year.
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  • 07.11.2012

    Bonnier’s Sport Diver Expands Its Reach to Asia-Pacific, Launches Digital-Only Magazine

    Bonnier Corp.'s Sport Diver has extended its brand to the Asia-Pacific region with the introduction of its digital-only magazine Sport Diver Asia Pacific. The magazine features original area-specific content — premier dive destinations, underwater exploration, gear advancements, aquatic environmental advocacy and more — for scuba enthusiasts in the Asia-Pacific region.
     
    Sport Diver Asia Pacific is a browser-based magazine that offers its readers a unique interactive experience. Its interactive capabilities include: scrolling text, image galleries, bonus video, hot links, 360-degree panoramic photos and more. Images and maps can be clicked on to be viewed larger, while additional content and photo captions are also available with a single click.

    The digital magazine is device agnostic, so it can be viewed on any smartphone, tablet, laptop or desktop. Subscribers are emailed a link to each issue. Subscribers also receive e-newsletters twice monthly, with new content including: digital photography tips, photo galleries from photographers based in the region, an op-ed piece, a Q&A with a diving doctor and a column on staying fit for scuba diving.

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  • 07.11.2012

    Oil Rebounds From One-Week Low as U.S. Stockpiles Decline

    Oil rebounded from the lowest close in more than a week in New York on speculation that declines may have been excessive amid shrinking stockpiles in the U.S., the world’s biggest crude consumer.

    Futures climbed as much as 1.3 percent after slipping 2.4 percent yesterday. U.S. inventories fell 695,000 barrels last week, the American Petroleum Institute said after yesterday’s settlement. A Department of Energy report today will probably show supplies slid 1.38 million barrels, according to the median estimate in a Bloomberg News survey. China reported passenger- vehicle sales that beat analysts’ forecasts.

    “I wouldn’t be surprised to see prices rising, as most of the demand-side risks should be priced in and more risks on the supply side materialize,” said Eugen Weinberg, the Frankfurt- based head of commodities research at Commerzbank AG. “We’re likely to see tightening and lower spare capacities in the second half.”

    Oil for August delivery gained as much as $1.09 to $85.00 a barrel in electronic trading on the New York Mercantile Exchange and was at $84.73 at 11:27 a.m. London time. The contract fell $2.08 yesterday to $83.91, the lowest close since July 2.

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  • 07.11.2012

    Bemis Company Signs Joint Development Agreement With Thin Film Electronics

    Bemis Company, Inc. today announced that it has signed a joint development agreement with Thin Film Electronics ASA (OSE: THIN.OL) to develop a Bemis Intelligent Packaging Platform.  The agreement will accelerate the commercial development of functional sensor labels manufactured from new and emerging printed electronic technology made from Thin Film’s proprietary read/writable printed memory and program logic.  When used with Bemis packaging, the line of “intelligent” labels will monitor and record key physical properties and environmental data in packaged perishable products.
     
    “Intelligent packaging is an emerging technology with many potential intersections with Bemis’ flexible packaging and pressure sensitive materials business segments,” said Henry Theisen, Bemis Company President and Chief Executive Officer.  “Our agreement with Thin Film Electronics ASA is an investment in technology that could eventually make printed electronics a component of every package we manufacture.”
     
    The Bemis Intelligent Packaging Platform is expected to be commercially available in 2014.
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  • 07.11.2012

    Big 3 business magazines post ad page gains

    The Big 3 business magazines—Bloomberg Businessweek, Forbes and Fortune—posted ad page gains in the first half of the year compared with the year-earlier period, according to Publishers Information Bureau figures. Forbes led the way with a 13.0% gain in ad pages, followed by Bloomberg Businessweek (6.4%) and Fortune (4.0%).

    The magazines outperformed the broad consumer magazine market, which posted an 8.8% decline in ad pages in the first half of the year.

    The best-performing business title in ad page gains was Fast Company, which posted an increase of 19.5% in ad pages. Also posting gains was Harvard Business Review (2.7%).

    Business magazines that posted ad page declines in the first half included Entrepreneur (-8.7%), Wired (-6.5%), Barron's (-4.1%), The Economist (-4.1%) and Inc. (-2.1%).

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  • 07.11.2012

    Deal value soars for b-to-b mergers in the first quarter

    The number of business-to-business media deals jumped 75 percent to 14 in the first half of 2011 while deal value leapt 266 percent, according to The Jordan, Edmiston Group’s first half 2012 M&A overview. That’s the largest percentage growth in deal value among the nine categories tracked by JEGI.
     
    Still, total deal value for b-to-b media was relatively small at $82 million. Deals in the first half included Questex selling its industrial and specialty publications to North Coast Media while Bobit Business Media acquired the b-to-b trucking industry assets of Newport Business Media.

    Business-to-business companies are aggressively pursuing acquisitions in the data and business information sectors  (which as a category totaled 36 deals worth $6.21 billion in the first half of 2012, according to JEGI). McGraw-Hill was said to be one of the final bidders for oil and gas researcher Wood Mackenzie, which ended up selling to private equity group (and former Advanstar owner) Hellman & Friedman for $1.7 billion Both Penton and Questex made extensions into data and business information services. Penton teamed with REIS Inc., a provider of commercial real estate market information and analytical tools, to offer Reis content and data to audiences for Penton’s National Real Estate Investor brands, as well as collaborate on webinars. Questex recently acquired Ataway Exchange, a community network and conference aimed at marketing and technology executives in the travel industry. The goal is to offer a line of digital consulting services and paid content services offering market research, market analysis and best practices.

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  • 07.11.2012

    Tembec To Indefinitely Idle High-yield Pulp Mill In British Columbia

    Tembec said Tuesday that it will indefinitely idle its high-yield pulp mill located in Chetwynd, British Columbia, as of September 16, due to market related conditions.

    High-yield pulp is used in printing and writing papers, paperboard as well as tissue and towelling.

    Chris Black, Tembec Executive Vice President and President of the Paper and Paper Pulp Group, said, "The high-yield pulp market has continued to soften over the past year. At today's price levels, it is virtually impossible to maintain viable operations given the current cost structure of the Chetwynd mill."

    Black added that this was a difficult decision and that the company has not taken it lightly since it has an impact on employees and on the region.

    The Chetwynd mill was built in 1990 and has an annual production capacity of 240,000 tonnes. A total of 115 employees are currently employed at the mill. The pulp produced at the Chetwynd mill is shipped to primarily Asia.

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  • 07.11.2012

    Preliminary June printing & writing stats (UBS)

    PPPC reported preliminary June N American printing/writing stats after the close. The data showed marked deterioration from May. Shipments fell 11.5% y/y versus only a 2% drop in May. The June comp was 350 basis points tougher than in May. Utilization rose 100bp m/m but fell 600 bp y/y. YTD utilization is off 100 bp.

    Uncoated free sheet shipments plunged 9% y/y-the steepest drop in any month since mid-2009 and materially weaker than the 1% drop in May. The June comp was 100bp easier than May. Utilization fell 300bp m/m and 500bp y/y. It trailed the printing & writing average for the month by 300bp. But ytd uncoated free utilization remains about 100bp stronger than the printing and writing average.

    Coated groundwood was the strongest grade. Shipments fell 2% y/y. Utilization was full, rising 1300 bp m/m (and 1100bp stronger than printing & writing average for June. Coated free was weak with shipments off 13.5% y/y. Op rate rose 200bp m/m but still trailed printing & writing avg by 400bp. Uncoated groundwood trends remain weak with shipments off 22% y/y despite the easiest print/write comp. Utilization is better than shipments, but still fell 200bp m/m and 600bp y/y.

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  • 07.10.2012

    Taylor Corp. Acquires Financial Services Communications Firm

    Taylor Corp. has reached agreement to acquire Venture Encoding of Fort Worth, TX. Venture will be merged with Corporate Graphics Direct Marketing Solutions, a Taylor affiliate based in Arden Hills, MN, with the new company carrying the name Venture Solutions Inc.

    Taylor is one of the top-10 graphic communications providers, as well as having the largest and most diverse digital print platform in North America. It has over 80 affiliated companies across North America, China and Europe.

    “As Taylor continues to evolve to meet the changing needs of its customers, Venture aligns very well with our corporate growth strategy centered on customer communications in compliance-driven markets such as financial services,” said Glen Taylor, Taylor Corp. CEO. “We will build upon Venture’s legacy of market leadership and deep market knowledge to grow further.”

    Venture Encoding, founded in 1972, is a market leader in providing loan servicing, borrower communications and marketing solutions to large financial organizations. The company leads the market with its VentureAccess online 24/7 customer care portal, as well as its VentureCritical time sensitive, business critical services.

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  • 07.10.2012

    Northstar Travel Media Acquired by Wicks Group

    Northstar Travel Media, a leading business-information company serving the travel and meetings industries, has been acquired by the Wicks Group, making it one of the very few successful transactions in traditional b-to-b media in the last several years.

    The transaction price was not disclosed, but Northstar CEO Tom Kemp described the EBITDA multiple—a critical benchmark that has been highly anticipated throughout the industry—as “mid-to-high single digits.” That number would put it at or near the top of the successful transactions in this market during the last few years, including the sale of Canon Communications to UBM in 2010 and the sale of George Little Management last year from Daily Mail and General Trust to Providence Equity Partners.

    “The pricing reflects the current market and is most directly influenced by the leverage multiples that lenders are willing to put into this marketplace,” Kemp said. “It’s a good sign for b-to-b media that transactions can get done. It has not been a robust market and it has been hard to get things closed.”

    In the deal, Northstar moves from one private-equity owner, BV Investment Partners, to another, Wicks. BV is a successor company to Boston Ventures, one of the pioneering private-equity firms involved in b-to-b media. Wicks is a New York-based private equity firm that invests in the media, education, and information industries. One of its early b-to-b media investments dates to the late nineties, when it assembled Wicks Business Information. “The fact that Wicks is interested in writing checks into this market is certainly indicative of the sustainable value of the b-to-b sector,” Kemp said.

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  • 07.10.2012

    First of its Kind Survey Reveals Supermarket Media Preferences

    Valassis, one of the nation's leading media and marketing services companies, announced results of a study indicating that today 90% of grocery retailers use weekly circulars as their promotion of choice although they clearly expect the increased influence of social media and digital to greatly impact their promotion tactics within the next five years. This was among the findings of the Supermarket Media Usage Study of 60 leading grocery decision makers, representing approximately 50 national and independent grocers/chains. The survey was executed on behalf of Valassis by Stagnito Custom Media.

    "This is the first survey of its kind seeking input from decision makers in the grocery retail sector and provides insight into their promotions, success metrics and future promotional strategies," said Pierce Hollingsworth, Editorial Director, Retail Leader.

    When it comes to effectiveness, the study revealed that 75% of grocery retailers realize increased results from print circulars, driving their preference. More specifically, 50% indicated increased sales and 25%, increased customer retention.

    The study also found that grocers are adapting their media tactics in response to declining paid newspaper circulation, and have decreased their newspaper-distributed circulars within the past year. As a result, 26% of respondents reported increased usage of mail-delivered and online promotions.

    Grocers are developing targeting and distribution strategies for their circulars through a combination of internal sales data and consumer insights with 90% saying customers plan differently by trip type – 82% believe consumers are making more decisions at home than three years ago. Two-thirds of respondents also indicated they expect that social media/Internet will be a more significant component of their media plans within five years. Sixty-five percent of respondents expect that over the course of the next five years, social media/Internet will be the medium of choice for grocers to meet sales goals.

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  • 07.10.2012

    Weyerhaeuser Establishes Procurement Preference for American Tree Farm System®-Certified Wood

    Weyerhaeuser Company today announced its preference for purchasing wood that is certified under the American Tree Farm System®. This decision aligns with the company's commitment to responsible fiber sourcing.

    For more than 89,000 family forest owners sustainably managing 27 million acres of forestland in the American Tree Farm System, the Weyerhaeuser preference for their certified wood can make a real difference in the viability of Tree Farms and the economic health of rural communities.

    "Weyerhaeuser's announcement is just what certified Tree Farmers have been waiting for," said Tom Martin, president and CEO of the American Forest Foundation. "Healthy forests need healthy markets because protecting your trees against insects, disease and catastrophic fire can be expensive. These landowners are hardworking people who want to keep their forests as forests, and keep them in their family." 

    "Weyerhaeuser's continued commitment to ensuring woodland owners have the tools to manage sustainably is laudable," Martin added.

    The American Tree Farm System is the largest and oldest woodland system in America. Certified Tree Farmers meet the highest standards of sustainability and manage their lands for water, wildlife, wood and recreation. The system is a program of the American Forest Foundation.

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  • 07.10.2012

    Platts: Petrochemical Prices Continue 2Q Declines on Lower Oil Prices

    Continuing the decline begun in early second quarter, prices in the $3-trillion-plus global petrochemicals market fell in June to an average of $1,104 per metric ton (/mt) for the month. June's average price is down $175 or 14% from the May average, according to the just-released monthly average of the Platts Global Petrochemical Index (PGPI), a benchmark basket of seven widely used petrochemicals.

    June's 14% month-on-month price drop is the largest one-month percentage decline in global petrochemical values since November 2008, when prices fell 38% following the start of the global recession in mid-2008. It follows an 11% decline in the monthly average in May and is down 20% from the June 2011 average.

    Petrochemicals are used to make plastic, rubber, nylon and other materials for consumer products, packaging, manufacturing, construction, pharmaceuticals, aviation, electronics and nearly every commercial industry.

    Across the globe, petrochemical prices followed energy prices lower. The Brent crude oil price peaked at $126 per barrel (/b) in March, before falling as low as $89/b during the third week of June. During that same period, the Platts naphtha index fell 35%. Naphtha is a primary raw material input that produces olefins, which are the key ingredients in the manufacturing of other petrochemicals and polymers.

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  • 07.10.2012

    Zhanjiang Chenming PM 1 Sets Speed Record for Woodfree Uncoated Paper

    Metso said that on May 8 a fine paper machine it supplied to Zhanjiang Chenming Pulp & Paper in Zhanjiang City, China, set a woodfree uncoated machine 24-hour world speed record of 1,710 m/min.

    During the record run, the 11.15-meter-wide PM 1 produced woodfree uncoated printing paper at a basis weight of 70 g/m2, Metso said.

    The PM 1 was started up on September 1, 2011.

    PM 1 features Metso’s paper making and automation technology from headbox to reel, air and chemical systems and two WinDrum Pro winders. The annual dimensional production capacity of the machine is close to 600,000 tonnes of woodfree uncoated printing paper.

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  • 07.10.2012

    Brentwood Associates Acquires Sundance Catalog

    Private equity firm Brentwood Associates has acquired a majority stake in women's apparel and accessories, jewelry, and home furnishings seller Sundance Catalog from ACI Capital, Webster Capital and Sundance Catalog founder Robert Redford, who will retain minority stakes in the 23-year-old company.

    Terms of the deal, which closed on July 6, were not disclosed.

    Chris Kampe, managing director with investment firm Tully & Holland, said in an email investors received a 6-time return on their initial investment of capital while Sundance's EBITDA is about $14 million on annual sales of more than $100 million. The transaction was valued between $100 million and $150 million, Kampe added.

    Kampe said Sundance Catalog was attractive to Brentwood Associates because it met its acquisition criteria of direct-to -consumer sector, recognized consumer brand and EBITDA greater than $5 million. Current president and CEO Matey Erdos will continue to run Sundance Catalog.

    Eric Reiter, a partner at Brentwood Associates, said in a release that his company plans to build on Sundance's successful multichannel distribution, and expand product offerings.

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  • 07.10.2012

    Irving Forest Products Awarded Efficiency Maine Grant for Innovative Power Generation, Energy Efficiency Projects

    Efficiency Maine has awarded Irving Forest Products Dixfield Sawmill a $471,000 incentive to install a kiln moisture control system that will save the Dixfield sawmill company nearly 15% of their annual energy expense - 3.2 million kilowatt hours a year -- or enough energy to power 530 homes a year.

    “The incentives from Efficiency Maine will allow the mill to take advantage of low-cost energy that we otherwise would not be able to access because of high up-front costs,” says Division Manager SusanCoulombe. “By reducing the amount of electricity purchased on the grid, the project will allow Irving to remain more competitive, and reinvest those resources in its people and operations,” said Coulombe. The mill currently employs 235 people.
     
    This is the second incentive award that Irving has won through a competitive program administered through Efficiency Maine where projects are ranked on the basis of cost effectiveness and project readiness. The first award was a $706,543 incentive for a steam turbine that reduced Irving’s dependence on grid-supplied electricity by 4.2 Million kWh.  “Both projects will allow the mill to be at 100% capacity,” added Coulombe, “That’s something that’s extremely rare in the forest products industry today.”

    “By reducing the demand for electricity by 6.5 million kilowatt hours a year, Irving doesn’t merely lower its operating costs, but it lowers the cost of electricity for all Maine ratepayers,” says Ian Burnes, Business Program Manager at Efficiency Maine.

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  • 07.10.2012

    Coldwater Creek Announces New $65 Million Financing with Golden Gate Capital

    Coldwater Creek Inc. announced the closing of a five-year, $65 million senior secured term loan provided by Golden Gate Capital, a leading private equity firm with extensive experience in the retail sector. The Company also announced the completion of an amendment to its $70 million revolving credit facility with Wells Fargo Capital Finance, part of Wells Fargo & Company, which matures on May 16, 2016.
     
    "We are pleased to announce this strategic investment and partnership with Golden Gate Capital, which is a strong endorsement of our brand and turnaround strategy, and provides us with further financial flexibility to complete our near term business objectives and accelerate our growth plans," said Dennis Pence, Chairman and Chief Executive Officer of Coldwater Creek. "Golden Gate Capital brings a highly flexible investment approach and extensive retail expertise, which will be beneficial in the continued revitalization and long-term growth of Coldwater Creek."
     
    Golden Gate is one of the most active private equity investors in the retail and restaurants sector. Some of the firm's retail portfolio companies include Eddie Bauer, J.Jill, Zales and Express. Over the last 12 months, Golden Gate has also announced investments in California Pizza Kitchen, Pacific Sunwear, and Payless ShoeSource (pending).
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  • 07.10.2012

    Crude Drops as Norway Ends Oil Strike, China Cuts Imports

    Oil dropped for a third time in four days after Norway ended a strike that threatened to halt production by western Europe’s largest crude exporter, while China reduced purchases of the commodity.

    Futures slipped as much as 1.6 percent in New York while London-traded Brent lost 2.1 percent after the Norwegian government ordered compulsory arbitration in the dispute, preventing a platform workers’ lockout scheduled to start at midnight yesterday. The nation pumped about 1.8 percent of global consumption, data from the Norwegian Petroleum Directorate show. China’s net crude imports fell to the lowest level this year, according to customs data today.

    “The end of the strike in Norway and lower imports by China are weighing on oil prices today, while in the background the Europe crisis is unresolved,” Robert Montefusco, a senior broker at Sucden Financial Ltd. in London, said by e-mail. “Unless we get more stimulus from China, it looks like Brent will test $95 again.”

    Brent crude for August settlement decreased 69 cents, or 0.7 percent, to $99.63 a barrel on the London-based ICE Futures Europe exchange at 11:50 a.m. London time. West Texas Intermediate for August delivery fell 14 cents to $85.86 in electronic trading on the New York Mercantile Exchange.

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  • 07.10.2012

    Google to allow user blocking of retargeted ads

    Google Inc. is introducing a new feature that will allow users to selectively eliminate retargeted ads from reappearing as they visit other websites.

    Over the next few weeks, Internet users will begin seeing a small X button, “Mute this Ad,” in the upper right corner of some Google Display Network ads. Clicking it will block that particular ad from displaying on other sites the user may visit, although it will not block other ads from the same advertiser.

    “We believe this early-look feature can bring benefits to the entire ecosystem,” Google said, on its blog. “Users have a way to ... signal that they aren't interested in certain ads; advertisers are no longer paying to show ads to people who aren't interested; and publishers will receive better performing ... ads, and spend less time filtering out ads they think won't be of interest to their audience.”

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  • 07.10.2012

    In-app advertising set to hit $7.1 billion by 2015

    In-app advertising will total $2.4 billion this year, and $7.1 billion by 2015, driven by greater use of rich media, according to mobile marketing analysis company Juniper Research.

    According to the company's “Mobile Advertising: Messaging, In-App and Mobile Internet Strategies 2012-2017,” North America and Western Europe will account for 60% of total advertising spending by 2017. Also, spending on mobile messaging, versus in-app ads, will increase eightfold by 2017, according to Juniper Research.

    The report provided what it called “critical” lessons for marketers using mobile ad units, including creating materials that work on mobile devices and that are well-made and attention-grabbing to overcome increasing competition.

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  • 07.10.2012

    AptarGroup Completes Acquisition of Stelmi Group

    AptarGroup, Inc. today announced it completed the acquisition of the Stelmi Group, in early July, after receiving the necessary regulatory approvals. As previously reported, this strategic acquisition expands AptarGroup’s portfolio of solutions that it provides to the pharmaceutical industry.

    AptarGroup also updated its guidance on second quarter 2012 earnings per share to reflect acquisition costs related to the Stelmi acquisition, mentioned above. In addition, weaker than anticipated results for the Company’s European operations and recent changes in foreign currency exchange rates are expected to negatively impact second quarter results. AptarGroup currently anticipates second quarter earnings per share to be in the range of $0.60 to $0.62 per share compared to the previously announced guidance of $0.70 to $0.75.

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  • 07.09.2012

    National Geographic Traveler Launches in India

    The National Geographic Society's newest export is the Indian edition of National Geographic Traveler, which debuted on July 6. Partner is Mumbai-based ACK Media (initials stand for the flagship Amar Chitra Katha mythology series), which also publishes National Geographic in the country.
     
    There are about 30 international editions of NG. NGT now has 15, with the 1 million combined circulation more upscale than the 715,000 rate base in the U.S. However, there are an estimated 125 million English speakers among India's 1.2 billion population, so there is a potential for growth.
     
    The Traveller spelling matches that of NGT editions in the U.K. and South Africa.
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  • 07.09.2012

    In E-Book War, the Independent Publishers Strike Back

    In the fight between Apple, Amazon, the government, and publishers to set prices for electronic books, independents were overlooked. Now, they're banding together and voicing complaints.

    To briefly recap: In April, the Department of Justice filed anti-trust cases against Apple and five publishers -- Penguin Group USA, Hachette Books Group, HarperCollins, Simon & Schuster, and Macmillan -- alleging that they had joined in a scheme to raise the price of newly released and bestselling e-books. Three of the publishers -- Hachette, HarperCollins, and Simon & Schuster -- insisting they had done nothing wrong, settled with the DOJ rather than undergo protracted and extremely expensive litigation and accepted stringent terms on future pricing strategies. Apple, Penguin, and Macmillan refused to settle, and U.S. District Court Judge Denise Cote has set a trial date for June 3, 2013.

    Now, nine of the country's leading independent publishers have taken a bold step, and deserve public recognition for their action. On June 25, they submitted a cogent, twenty-page comment to the court objecting to the Department of Justice's settlement with the three publishers on the grounds that it would "adversely impact competition -- harming independent publishers, authors, booksellers and consumers -- and should be rejected." The case itself would still go forward, unless it is dismissed by the judge or is settled in some way that remains to be devised. At first glance, this may seem like a complex legal dispute far outside the general concerns of most bookbuyers. But stay with me and hopefully you will appreciate why the publishers deserve credit, and why this contentious issue matters to readers.

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  • 07.09.2012

    Oil Rebounds as Norway Strike Looms

    Oil rebounded in New York after the biggest drop in two weeks as a labor strike threatened to halt production in Norway, Western Europe’s biggest exporter.

    Futures advanced as much as 0.7 percent. Statoil ASA (STL) said it may declare force majeure on fuel deliveries as it prepares to halt more offshore fields at midnight. Prices slid 3.2 percent on July 6, the biggest decline in two weeks, after a report showed the U.S. created fewer jobs than estimated in June. European Union sanctions on Iranian imports took effect at the start of this month.

    “If the lockout in Norway goes ahead, it will come at a highly inconvenient time, with Iranian oil out of the market and continued supply losses in Sudan and elsewhere,” said Michael Poulsen, an analyst at Global Risk Management in Middelfart, Denmark. “There’s a high likelihood of the government having a friendly chat with both parties, though that’s less certain than a week ago.”

    West Texas Intermediate oil for August delivery climbed as much as 60 cents to $85.05 a barrel in electronic trading on the New York Mercantile Exchange and was at $84.92 at 11:24 a.m. London time.

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  • 07.09.2012

    International Paper Announces Franklin Mill Start-Up

    International Paper has announced the start-up of its new fluff pulp operation in Franklin. The Company’s once-closed Franklin paper mill has been repurposed to manufacture fluff pulp, a key ingredient in super absorbent products such as baby diapers, adult incontinence and feminine hygiene products, and medical wipes.
     
    “On behalf of the entire Franklin Team, we are very proud to embark on a new future for this facility,” said Franklin mill manager Allison Magness. “We have accomplished so much in the past year to get the mill up and running. I want to thank our entire Franklin team, those on the repurposing team, contractors, suppliers, all of the additional resources companywide and the local community, who have supported the start-up of the mill. It has been an amazing year of planning and execution that has brought us to where we are today. For us, this is the beginning of a new chapter, and we look forward to becoming the best at making fluff pulp.”
     
    Magness said the mill began manufacturing operations this week. She emphasized that the facility is in the early stages of operation and will now be focused on transitioning to full production.
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  • 07.06.2012

    Walgreens June Sales Decrease 6.8 Percent

    Walgreens had June sales of $5.63 billion, a decrease of 6.8 percent from $6.04 billion for the same month in fiscal 2011. Compared with prior months during this calendar year, June sales comparisons were significantly impacted by calendar day shifts and an increase in generic drug introductions.

    Sales in comparable stores decreased by 10.0 percent. The effect of generic drug introductions in the last 12 months negatively impacted total comparable sales by 3.6 percentage points, while calendar day shifts negatively impacted total comparable sales by 1.4 percentage points.

    Calendar year-to-date sales were $35.04 billion, a decrease of 3.0 percent from $36.11 billion in 2011.

    Fiscal 2012 year-to-date sales for the 10 months were $60.19 billion, down 0.1 percent from $60.25 billion in fiscal 2011.

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  • 07.06.2012

    Stein Mart, Inc. Reports June 2012 Sales

    Stein Mart, Inc. today reported comparable store sales for the five-week period ended June 30, 2012 decreased 0.5 percent. Total sales for the period were $104.7 million, an increase of 0.2 percent from $104.5 million in the same period in 2011. For the year to date, comparable store sales increased 0.2 percent and total sales increased 0.7 percent to $509.9 million.
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  • 07.06.2012

    Rite Aid Reports 1.0 Percent Same Store Sales Decrease for June

    Rite Aid Corporation today announced sales results for June. 
     
    For the four weeks ended June 30, 2012, same store sales decreased 1.0 percent over the prior-year period. June front-end same store sales increased 0.3 percent. Pharmacy same store sales, which included an approximate 672 basis points negative impact from new generic introductions decreased 1.6 percent. Prescription count at comparable stores increased 2.9 percent over the prior-year period. 

    Same store sales for the 17-week period ended June 30, 2012 increased 1.7 percent over the prior-year period. Front-end same store sales increased 2.1 percent while pharmacy same store sales increased 1.4 percent. Prescription count at comparable stores increased 3.0 percent over the prior-year period.

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  • 07.06.2012

    Gap Inc. Reports June Sales

    Gap Inc. today reported that June 2012 net sales increased 2 percent compared with last year.
     
    Net sales for the five-week period ended June 30, 2012 were $1.41 billion compared with net sales of $1.38 billion for the five-week period ended July 2, 2011. The company’s comparable sales for June 2012 were flat compared with a 1 percent increase for June 2011.

    Year-to-date net sales were $6 billion for the 22 weeks ended June 30, 2012, an increase of 5 percent compared with net sales of $5.73 billion for the 22 weeks ended July 2, 2011. The company’s year-to-date comparable sales increased 3 percent compared with a 2 percent decrease last year.

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  • 07.06.2012

    Limited Brands Reports June 2012 Sales

    Limited Brands, Inc. reported a comparable store sales increase of 7 percent for the five weeks ended June 30, 2012, compared to the five weeks ended July 2, 2011.  The company reported net sales of $1.077 billion for the five weeks ended June 30, 2012, compared to net sales of $1.080 billion last year.

    The company reported a comparable store sales increase of 7 percent for the 22 weeks ended June 30, 2012, compared to the 22 weeks ended July 2, 2011.  The company reported net sales of $3.903 billion for the 22 weeks ended June 30, 2012, compared to sales of $4.015 billion last year.  

    June 2011 and 2011 year-to-date sales included $80.0 million and $362.9 million attributable to the third party apparel sourcing business, which was sold in November 2011.

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  • 07.06.2012

    Macy's, Inc. Same-Store Sales up 1.2% in June

    Macy's, Inc. today reported total sales of $2.412 billion for the five weeks ended June 30, 2012, an increase of 0.8 percent compared with total sales of $2.392 billion in the five weeks ended July 2, 2011. On a same-store basis, Macy's, Inc. sales were up 1.2 percent in June 2012 as compared to June 2011.

    For the year to date, Macy's, Inc.'s sales totaled $10.569 billion, up 3.4 percent from total sales of $10.217 billion in the first 22 weeks of 2011. On a same-store basis, Macy's, Inc.'s year-to-date sales were up 3.6 percent in 2012 over 2011.

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  • 07.06.2012

    Target Reports June Sales Results

    Target Corporation today reported that its net retail sales for the five weeks ended June 30, 2012 were $6,419 million, an increase of 2.6 percent from $6,256 million for the five weeks ended July 2, 2011. On this same basis, June comparable-store sales increased 2.1 percent.

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  • 07.06.2012

    Nordstrom Reports June Sales

    Nordstrom, Inc. today reported an 8.1 percent increase in same-store sales for the five-week period ended June 30, 2012 compared with the five-week period ended July 2, 2011. Preliminary total retail sales of $1.04 billion for June 2012 increased 12.6 percent compared with total retail sales of $927 million for the same period in fiscal 2011.

    Quarter-to-date same-store sales increased 6.8 percent compared with the same period in fiscal 2011. Preliminary quarter-to-date total retail sales of $1.91 billion increased 11.1 percent compared with total retail sales of $1.72 billion for the same period in fiscal 2011.

    Year-to-date same-store sales increased 7.8 percent compared with the same period in fiscal 2011. Preliminary year-to-date total retail sales of $4.45 billion increased 12.6 percent compared with total retail sales of $3.95 billion for the same period in fiscal 2011.

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  • 07.06.2012

    Kohl's Corporation Reports June Comparable Store Sales

    Kohl’s Corporation reported today that for the five-week month ended June 30, 2012 total sales decreased 2.6 percent and comparable store sales decreased 4.2 percent from the five-week month ended July 2, 2011.
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  • 07.06.2012

    Saks Incorporated Announces June Comparable Store Sales

    Retailer Saks Incorporated today announced that owned sales totaled $274.0 million for the five weeks ended June 30, 2012 compared to $258.6 million for the five weeks ended July 2, 2011, a 6.0% increase. Comparable store sales increased 6.0% for the month.

    On a quarter-to-date basis, for the two months ended June 30, 2012, owned sales totaled $489.8 million compared to $467.1 million for the prior year two months ended July 2, 2011, a 4.9% increase. Comparable store sales increased 5.1% for the two months.

    On a year-to-date basis, for the five months ended June 30, 2012, owned sales totaled $1,233.9 million compared to $1,180.8 million for the prior year five months ended July 2, 2011, a 4.5% increase. Comparable store sales increased 4.9% for the five months.

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  • 07.06.2012

    Digital readership to fuel growth in consumer magazine space

    The global consumer magazine market is expected to begin to increase in 2012, averaging 1.3 per cent compounded annually to $80 billion in 2016 from $75 billion in 2011, according to PwC’s Global Entertainment and Media Outlook 2012-2016. Citing principal drivers for the growth, the report said, improving economic conditions will lead to modest growth in print advertising during the next five years. However, it also said that in real terms print advertising will decline but growing digital readership will fuel digital advertising.
     
    The report expects the print advertising growth in consumer magazines to be a modest 1.5 per cent compounded annually to $31 billion in 2016 but expects digital advertising in consumer magazines market to grow by a compounded 20.8 per cent compounded annually to $5.5 billion in 2016. “In 2016, digital advertising will account for 15.1 per cent of the total consumer magazine advertising compared to 7.0 per cent in 2011,” it said.
     
    In Asia Pacific region the print consumer magazine advertising is expected to rise from $6 billion in 2011 to $7 billion in 2016, a 3.2 per cent compound annual increase while digital advertising will total an estimated $684 million in 2016 from $250 million in 2011, a 22.3 per cent increase compounded annually.
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  • 07.06.2012

    Walgreens to Acquire USA Drug Pharmacy Chain in Mid-South

    Walgreen Co. announced today that it has entered into an agreement to purchase a regional drugstore chain in the mid-South region of the United States from Stephen L. LaFrance Holdings, Inc. and members of the LaFrance family.

    The transaction includes 144 stores currently operated under the USA Drug, Super D Drug, May’s Drug, Med-X and Drug Warehouse stores located in Arkansas, Kansas, Mississippi, Missouri, New Jersey, Oklahoma and Tennessee. The acquisition also includes corporate offices, a distribution center located in Pine Bluff, Ark., and a wholesale and private brand business, for a total of approximately $438 million subject to adjustment in certain circumstances. The chain recorded sales of $825 million in 2011.

    “This acquisition expands our business in an important region of the country,” said Walgreens President and CEO Greg Wasson. “It will provide significant new pharmacy business for us in this region while also enabling us to bring the Walgreens experience to many additional smaller communities where USA Drug has developed strong operational expertise.”

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  • 07.06.2012

    New Two Sides Campaign Targets UK Consumers

    The campaign features the attractiveness and sustainability of magazines and newspapers. Research by Two Sides has revealed consumers are surprised to learn that:
     •Almost 70% of paper across Europe is collected and recycled. In fact it’s one of the most recycled materials of all.
     • Forests in Europe, which provide wood for making into paper and many other widely used materials, are 30% larger than in 1950. In fact they’re increasing by 1.5 million football pitches every year!
     
    Martyn Eustace, Director of Two Sides, comments, “This is a really important campaign which is urgently needed to correct consumer misunderstandings. Our research tells us that magazine and newspaper readers are unaware of the industry’s great record on recycling and that European forests, where the majority of raw material is sourced, are actually growing in size. 80% of UK consumers prefer reading from paper than reading off a screen (*) and we want to let them know the facts about the industry’s record on important environmental issues”.
     
    Barry McIlheney, CEO of the Professional Publishers Association (PPA) states: “We live in a multi-media world and readers now look for a choice of media channels. Print is still vital for magazine publishers and offers a unique reading experience that will live on. We want to make sure that, in choosing a printed magazine, readers fully understand that print media also offers a natural reading experience and can be a sustainable way to read”.
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  • 07.06.2012

    Buckeye Florida Mill Back in Full Operation

    Buckeye Technologies Inc. today announced that its Florida wood cellulose manufacturing facility has returned to full operation. Both of the plant’s paper machines were damaged when a steam drum failure occurred on June 17. The specialty pulp line returned to production on June 23; the fluff pulp line began its start-up on July 4, as previously targeted and communicated in the Company’s June 25 press release.

    As of today, production on the fluff pulp line was operating within normal ranges and we are producing fluff pulp per our ISO 9001:2008 quality standards. Returning the fluff pulp line to operation will allow the Company to fully optimize the product mix on the specialty line. The root cause of the drum failure was identified by the failure analysis team and preventive actions have been taken on both lines to prevent reoccurrence.

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  • 07.06.2012

    AAA Fuel Gage & Exchange Rates

    AAA’s Fuel Gage Report as of 7/06/12
    National Unleaded Regular:
    Current Average - $3.358/gallon
    Month Ago Average - $3.565/gallon
    Year Ago Average - $3.569/gallon
    Highest Recorded Average - $4.114/gallon on 7/17/08
    Diesel:
    Current Average - $3.662/gallon
    Month Ago Average - $3.872/gallon
    Year Ago Average - $3.890/gallon
    Highest Recorded Average - $4.845/gallon on 7/17/08

    Current Exchange Rates as of 7/05/12
    American Dollar to Canadian Dollar = 0.987762 (120 day high - 1.01905 on April 26, 2012; low 0.961252 on June 5, 2012)
    American Dollar to Chinese Yuan = 0.157037 (120 day high – 0.159363 on May 2, 2012; low 0.156858 on June 8, 2012)
    American Dollar to Euro = 1.2426 (120 day high - 1.3454 on February 28, 2012; low 1.2322 on June 1, 2012)
    American Dollar to Japanese Yen = 0.0125338 (120 day high – 0.0131387 on February 2, 2012; low 0.0119026 on March 21, 2012)
    American Dollar to Mexican Peso = 0.0750244 (120 day high – 0.0793808 on March 14, 2012; low 0.0691788 on June 1, 2012)

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  • 07.06.2012

    Crude Oil Declines on Concern Economy Failing to Recover

    Oil fell a second day in New York, paring a weekly gain, as the IMF warned it will trim growth forecasts while interest-rate cuts in Europe and China failed to assure investors the moves will be enough to support demand.

    Futures declined as much as 1.8 percent. The International Monetary Fund will lower its estimate for global growth this year on weakness in Europe, the U.S., Brazil, India and China, Managing Director Christine Lagarde said. The European Central Bank cut rates to a record low yesterday and the People’s Bank of China reduced borrowing costs. Brent oil slid on speculation Norway’s government will stop a strike by energy workers.

    “The growth outlook has been bleak,” said Thina Saltvedt, an analyst at Nordea AB in Oslo, who predicts the U.S. jobs data will be lower than forecast. “We expect to see some more soft data from the world’s largest oil consumer before we see a turnaround for the better later this summer.”

    Oil for August delivery fell as much as $1.35 to $85.62 a barrel in electronic trading on the New York Mercantile Exchange and was at $85.70 at 11:04 a.m. London time.

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  • 07.06.2012

    USPS begins consolidating processing facilities

    The U.S. Postal Service this week began to consolidate and close processing plants to cut expenses. Up to 48 service facilities will be impacted over the next two months.

    The USPS plans to close about 140 plants in its next fiscal year, which begins Oct. 1, and another 90 the following year. In addition, the USPS is offering buyouts and retirement packages to 21,000 postmasters as well as 45,000 mail handlers.

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  • 07.05.2012

    NewPage Announces Restructuring Update

    NewPage Corporation (NewPage) today announced that it has been engaged in a series of discussions with its various constituents, including first lien note holders, second lien note holders and the Unsecured Creditors' Committee, in an effort to finalize a consensual Chapter 11 plan. Information relating to these discussions has been posted on the NewPage restructuring website www.NewPageRestructuring.com.

    During these discussions, an ad hoc group of second lien note holders presented to an ad hoc group of first lien note holders an unsolicited proposal to combine NewPage and Verso Paper Corp. (Verso). After thoroughly evaluating this proposal, NewPage determined that the combination posed significant downside risks to its stakeholders, employees, and business. NewPage has also been advised that the first lien note holder group did not support the proposal.  Accordingly, NewPage does not anticipate further discussions regarding this proposal.

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  • 07.05.2012

    California plastic bag ban bill passes Senate committee

    A California Senate committee gave its OK on a bill that would issue a ban on the distribution of plastic bags by retailers in the state.

    Assembly Bill 298 passed the Senate Environmental Quality Committee by a 5-2 vote on July 2, according to state records.

    The bill would outlaw retail establishments from handling out single-use plastic and paper bags to customers beginning on Jan. 1, 2014.

    The bill offers some exceptions, as the store must have a gross annual sales of more than $2 million, have at least 10,000 square feet of retail space or is a convenience store or food store. Stores would be allowed to offer paper bags and compostable bags for sale.

    The bill passed the Assembly, 49-25, and now moves to another committee before the full Senate.

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