The American Forest & Paper Association has released its May 2013 Printing-Writing Paper Report, which said total printing-writing paper shipments were down 7 percent compared to May 2012, with total inventory levels increasing 1 percent from April.
Additional key findings in the monthly report show:
May shipments of coated free sheet (CFS) papers decreased 2 percent compared to May 2012, with year-to-date CFS shipments up less than 1 percent compared to 2012. Imports of CFS papers increased 22 percent in April compared to the same period last year.
Uncoated free sheet (UFS) paper shipments decreased 5 percent year-over-year in May. For the year, shipments are down 4 percent in 2013. Imports of UFS in April increased 26 percent compared to April 2012.
May uncoated mechanical (UM) paper shipments decreased 11 percent when compared to May 2012, with year-over-year imports through April up 5 percent.
Coated mechanical (CM) shipments in May decreased 13 percent compared to May 2012. Shipments of CM are down 12 percent for the year, with imports through April up 14 percent.
Metso will supply Zhejiang Jingxing Paper Joint Stock Co., Ltd. with an OptiConcept M containerboard production line for their Pinghu site in Zhejiang Province in China. The new production line is targeted to produce high-quality containerboard grades out of 100 percent recycled raw materials. The start-up of the machine is scheduled for 2014. The value of the order will not be disclosed.
“The line ordered by Zhejiang Jingxing Paper will be the fourth OptiConcept M-type production line to be supplied to Asia. The first line delivered was started up in China in December 2012. This latest project introduces the newest member in the OptiConcept M family, widening Metso’s offering to serve the narrower trim width of 5,650 mm. This represents Metso’s strategic move to enter this narrow segment, especially in China and Asia-Pacific,“ says Petri Paukkunen, Vice President, Paper Mills Sales and Marketing, Metso.
Metso’s delivery will comprise a complete OptiConcept M boardmaking line from headbox to reel with related air systems and chemical systems. The automation package will include dilution headbox controls.
The new 5.65-m-wide (trim) machine, PM 16, will produce fluting grades out of recycled raw materials in the basis weight range of 70-120 g/m2. The production capacity of the machine will be approximately 880 tonnes per day and the design speed 1,100 m/min.
Consolidated Graphics, Inc., one of North America's leading commercial printing companies and the world's largest digital printer, was recently awarded a patent for the company's CGX Flex Mailer, a unique, eco-friendly mailing solution that generates significant postage savings by enabling non-machinable items to be mailed as automated flats through the U.S. Postal Service.
U.S. Patent #8,376,212 was awarded to Consolidated Graphics for the automated flat mailer consisting of a highly flexible outer "skin" coupled with a unique inner tray design. The outer skin is tight enough to allow flexibility on both vertical and horizontal axes, while maintaining sufficient surface tension to limit variations in thickness to under 1/4 of an inch. This means that anything mailed within the CGX Flex Mailer is classified as an automated machinable flat, generating significant postage savings for customers. The packages are produced using wind energy and soy-based inks, making it an environmentally-friendly mailing alternative for socially responsible clientele.
"We are extraordinarily proud of this patented design and the cost savings it offers to clients of Consolidated Graphics," said Michelle Yun, President of Tucker Printers, a Consolidated Graphics company in Henrietta, NY, where the CGX Flex Mailer was conceived and developed. "The Flex Mailer provides an excellent example of the innovative solutions we are constantly researching and developing to meet the evolving needs of our clients, and we've received overwhelming interest from clients faced with escalating postage costs."
Developed as a custom solution for a promotional products and fulfillment customer that needed a cost-effective mailing solution, the CGX Flex Mailer is available in six sizes and can accommodate items as small as a USB drive to as large as a t-shirt while still remaining a USPS-approved automatable package. Package tracking is possible through the Intelligent Mail Barcode that can be printed directly on the piece.
West Texas Intermediate climbed for a fourth day as U.S. refiners boosted crude processing to the highest rate this year and industrial profits increased in China, the world’s second-largest oil consumer.
Futures gained as much as 0.7 percent in New York to post the longest rising streak since May 20. U.S. refineries operated at 90.2 percent of combined capacity last week even as stockpiles rose, government data showed yesterday. Profit at Chinese industrial companies was up 16 percent in May from a year earlier, according to China’s National Bureau of Statistics today. WTI breached a technical-resistance level that capped price gains the past week.
“We have spent the last four days recovering what was lost in two days last week,” Ole Hansen, the head of commodity strategy at Saxo Bank A/S, said by telephone from Copenhagen. “The oil market is returning to the focus of before last week’s sell-off, which is the increase in demand with refiners returning from maintenance and ramping up runs.”
WTI for August delivery rose as much as 64 cents to $96.14 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.73 at 11:49 a.m. London time.
Ahlstrom, a global high performance fiber-based materials company, announces price increases on its vegetable parchment materials produced by the Food and Medical business area. The price increases will be made to compensate for the continued high level of raw material costs as well as energy related inflation.
The price increases will affect all vegetable parchment products worldwide and will be effective for all orders placed as of August 1, 2013. The increase will be up to 5% depending on markets as well as the product and the agreements in place.
Ahlstrom's vegetable parchment products include food packaging materials for cooking, baking and wrapping. Food and Medical business area's main end-use applications are teabags, coffee filters, food packaging, baking papers, masking tape and surgical gowns and drapes.
Midland Paper, Packaging and Supplies, one of North America's largest independent distributors of media for business communications, today announced the introduction of an extensive new portfolio of Eco Cling Window and Eco Perm Label products. What sets these products apart from anything else in the market is that they are non-vinyl, co-polymer sheets that are phthalate free, offset or digitally printable, more ecologically friendly than PVC and more economical than standard vinyl products.
Midland’s Eco product line consists of:
• Eco Cling - Available in white and clear, 2 mil and 4 mil thicknesses, Eco Cling is an extremely versatile film that can be printed on offset, HP Indigo, Toner Fusion or UV Inkjet print devices. These products are designed for mounting to glass or very smooth surfaces. They can also be wet applied for a professional looking window graphic.
• Eco Perm - Available in 2 mil thickness in white and clear, Eco Perm film can be printed on offset, HP Indigo or Toner Fusion print devices. These products have a gloss finish and can enhance any permanent or durable label application.
“Midland has the most extensive array of offset and digitally printable vinyl products for window, wall, floor and label applications in the industry today. We are incredibly excited about the addition of our Eco Cling and Eco Perm products as they give us an economically and ecologically sound alternative when our customers are looking for another solution for their window or label application”, stated Rick Keber, Senior Product Manager - Specialty Paper and Film.
“Our goal is to offer our customers an extensive line of Specialty Paper and Film products that touches every print platform and value proposition in the market today – our new Eco product line is a natural extension of that strategy”, stated Mike Ratcliff, Vice President and General Manager for Midland’s Specialty Paper and Film Division.
Walgreen Co. today announced earnings and sales results for the third quarter and first nine months of fiscal year 2013 ended May 31.
Net earnings determined in accordance with generally accepted accounting principles (GAAP) for the fiscal 2013 third quarter were $624 million, a 16.2 percent increase from $537 million in the same quarter a year ago. Net earnings per diluted share for the quarter increased 4.8 percent to 65 cents, compared with 62 cents per diluted share in the year-ago quarter.
Third quarter sales increased 3.2 percent compared with the prior-year quarter to $18.3 billion, while sales for the first nine months decreased 0.5 percent to $54.3 billion. Front-end comparable store sales (those open at least a year) increased 0.4 percent in the third quarter, customer traffic in comparable stores decreased 3.9 percent and basket size increased 4.4 percent, while total sales in comparable stores increased 1.4 percent.
Total gross profit dollars increased $208 million, or 4.1 percent, compared with the year-ago third quarter, with gross profit margins increasing 30 basis points versus the year-ago quarter to 28.5 as a percentage of sales. The growth in margins was driven primarily by an increase in generic prescription drugs dispensed and positive contribution from the front end. The LIFO provision was $120 million in the third quarter, compared with $60 million in the year-ago quarter, primarily driven by prescription drug inflation.
In a carton packaging industry first, low density polyethylene from a renewable source planned to be used in all Tetra Pak packages produced in Brazil
In a first for the carton packaging industry, Tetra Pak® today announces that it plans to sign an agreement with Braskem, the largest thermoplastic resins producer in the Americas, for the supply of low-density polyethylene (LDPE) made from sugar cane to its packaging material factories in Brazil.
This breakthrough initiative, which will be limited in scope to Brazil only for the duration of the trial, is scheduled to start during the first quarter of 2014. According to the plan, Tetra Pak will use bio-based LDPE as a component of its packages produced in Brazil. The planned move to bio-based LDPE means that 100% of Tetra Pak packages produced in Brazil, about 13 billion, will have up to 82% packaging material from renewable sources.
“The new agreement to be signed with Braskem demonstrates our commitment to bring environmental innovations to our customers and is a further step in our journey to develop fully renewable packages,” said Tetra Pak President and Chief Executive Officer Dennis Jönsson.
Braskem will use ethanol derived from sugar cane to produce ethylene, which will then be converted into LDPE. The LDPE made from renewable sugar cane has the same technical properties as LDPE made from fossil sources, and the environmental benefits of being from a renewable source. Braskem biopolymers are known under the trademark I´m green™.
PaperWorks Industries, Inc. today announced that effective on shipments as of July 22, 2013, it will increase prices on all MasterWorks coated recycled boxboard grades by $45 per ton. This increase is necessary to recover escalating costs and includes the MasterBright series and all MasterWorks CRB grades: Blister, News, Plus, Freeze, Lite, and Bev.
PaperWorks will continue to work toward minimizing these increases with ongoing cost savings initiatives while maintaining industry-leading customer service and excellent quality for all our paperboard products.
2013 isn’t bringing any respite for traditional media, with radio and newspaper print advertising revenues continuing to drop. There was a wide range of performance among different types of media, with radio and newspaper results coming in worse than average.
Overall, advertising revenue was basically flat -- with a 0.1% decline from the first quarter of 2012 to the first quarter of 2013, to $30.2 billion, per Kantar Media.
Radio advertising declined 1.7% in the first quarter of the year -- reflecting both the absence of political ad spending and weakness in local advertising, long the medium’s mainstay. Local ad revenues were down 1%, per Kantar, while network radio revenues tumbled 15.2%.
The only bright spot was national spot radio, which increased 5.7% in the first quarter.
Newspaper ad revenues fell 4% in the first quarter, with a 9.2% drop in national newspapers and a 3.3% drop in local newspapers. Elsewhere in the print world, magazines eked out a modest 0.6% increase, due mostly to a 1.8% increase in consumer magazines, which benefited from higher spending by CPG companies, while business-to-business ad revenues fell 4.1% and local mags declined 5.7%.
Outdoor advertising revenues also increased in the first quarter, with a 4.3% increase.
The only real bright spot was Hispanic media, which bucked the overall trend.
Total European Shipments of Graphic Papers was down 8.6% vs. May 2012 and is down 5.2% year-to-date.
Total European shipments of Newsprint was down 9.6% vs. May 2012 and is down 6.4% year-to-date.
Total European shipments of SC-Magazine was down 9.6% vs. May 2012 and is down 5.0% year-to-date.
Total European shipments of Coated Mechanical Reels was down 13.1% vs. May 2012 and is down 8.3% year-to-date.
Total European shipments of Uncoated Mechanical (Improved & Others) was up 3.0% vs. May 2012 and is up 4.5% year-to-date.
Total European shipments of Coated Woodfree was down 8.8% vs. May 2012 and is down 5.7% year-to-date.
Total European shipments of Uncoated Woodfree was down 5.9% vs. May 2012 and is down 3.2% year-to-date.
West Texas Intermediate dropped for the first time in three days after an industry report showed U.S. crude stockpiles remained near the highest level in more than 30 years.
Futures lost as much as 1.1 percent in New York, before paring some of the decline. U.S. inventories slid by 28,000 barrels last week to 392 million, the American Petroleum Institute said after futures markets settled yesterday. Crude supplies climbed to 396.3 million earlier this month, the most since July 1981. A report from the Department of Energy today may show a decrease of 1.75 million barrels, according to a Bloomberg News survey. Stockpiles last month swung between a drop of as much as 6.3 million barrels and a gain of 3 million, according to weekly government data.
“Today is fairly quiet on the economic data front so the focus will be on the DOE stats later,” Bjornar Tonhaugen, senior commodities analyst at Nordea Markets, said by telephone from Oslo. “It’ll be interesting to see whether the Cushing levels fall, as they are set to drop in the third quarter and this could create some market moves.”
WTI for August delivery was trading at $94.81 a barrel, down 51 cents, at 11 a.m. London time in electronic trading on the New York Mercantile Exchange, after falling as much as $1.05.
Barnes & Noble, Inc. today reported sales and earnings for its fiscal 2013 fourth quarter and full year ended April 27, 2013.
Fourth quarter consolidated revenues decreased 7.4% to $1.3 billion as compared to the prior year. The consolidated fourth quarter earnings before interest, taxes, depreciation and amortization (EBITDA) loss was $122.0 million, as compared to a loss of $9.7 million in the prior year. The consolidated fourth quarter net loss was $118.6 million, as compared to the prior year net loss of $56.9 million. Fourth quarter net losses were $2.11 per share as compared to a net loss of $1.06 per share a year ago.
For fiscal 2013, consolidated revenues decreased 4.1% to $6.8 billion as compared to the prior year. Fiscal 2013 consolidated EBITDA was $10.3 million, as compared to $176.7 million a year ago. Fiscal 2013 consolidated net losses were $154.8 million, or $2.97 per share, as compared to $65.6 million, or $1.35 per share in the prior year.
Fourth quarter and full-year results were adversely impacted by NOOK inventory charges as discussed in the NOOK section below.
The company ended the fiscal year with cash of $160.5 million and borrowings of $77 million under its $1 billion revolving credit facility, as compared to a net debt position of $270 million a year ago.
American Forest & Paper Association President and CEO Donna Harman has issued the following statement with regard to President Obama’s climate change strategy announced today.
“New government regulations that threaten to increase the cost of manufacturing without taking into account the economic, social, and environmental contributions provided by our industry should be avoided. We already face additional capital costs of roughly $14 billion from recent and upcoming Clean Air Act rules.
“Paper and wood products manufacturers have taken voluntary actions to improve the sustainability of the industry and the planet. We have improved our energy efficiency by 8.1 percent since 2005 and are on track to reduce our greenhouse gas emissions by 15 percent. Further, by recovering over 65 percent of the paper consumed in America for recycling, we are helping to reduce methane emissions.
“Our industry’s investments in highly-efficient biomass energy also reduce greenhouse gas emissions by displacing fossil fuels. On average, about two-thirds of our energy comes from carbon neutral biomass energy, and our products help create market demand to keep land in forests that sequester carbon rather than development.
“EPA’s upcoming framework and regulations on biogenic carbon will provide an excellent opportunity for the agency to recognize the positive contributions of paper and wood products manufacturers to sustainability.”
Effective with all new and existing orders with confirmed delivery dates of July 15, 2013 and later, NewPage is implementing the following price increase for Productolith® Pts. web, sheet, and sheeter roll products: Productolith® Pts. C1S (6pt – 14pt) and Productolith® Pts. C2S (6pt – 14pt) $2.50/cwt US$/CAD$.
This increase applies to all finishes, brand extensions, and related private label grades.
FutureMark Paper Group pioneers a new practice for buying recovered waste paper through multiyear purchase agreements with stable cost
FutureMark® Paper Group, North America's leading provider of responsibly made recycled paper, revealed it is now securing approximately 50% of the recovered paper needed to run its business through long-term purchase agreements. The agreements, collectively worth more than $20 million per year, help FutureMark manage its costs for buying waste paper, which is the company's single largest operational expense. The long-term agreements also greatly reduce FutureMark's exposure to wild swings in waste paper costs, which have fluctuated by more than 300% within two-year cycles, and provide the same benefits to its suppliers when markets tumble.
FutureMark has signed 10 long-term agreements for buying the recovered paper needed to make the company's 90% to 100% recycled paper. Each agreement lasts for two or three years and establishes a stable cost, regardless of how dramatically recovered paper markets rise or fall over the life of the agreement.
"These types of agreements are highly unusual-maybe even unheard of-in recovered paper markets, but we believe they're going to be instrumental in ensuring the long-term health of U.S. recycled paper companies," said Steve Silver, President and CEO of FutureMark Paper Group. "Until FutureMark pioneered these long-term waste paper sourcing agreements for our two manufacturing facilities, no recycled paper company could gain this level of supply assurance or cost predictability. These agreements are an insurance policy against the extreme volatility of globalized waste paper markets-for both us and our suppliers."
Ennis, Inc., today reported financial results for the first quarter ended May 31, 2013.
The Company's consolidated net sales for the quarter were $138.5 million compared to $142.5 million for the same quarter last year and $123.6 million for the sequential quarter. Print sales were down 6.8% on a comparable quarter basis, from $87.3 million to $81.4 million, but were up 2.0% on a sequential quarter basis from $79.8 million. Apparel sales increased 3.3% for the comparable quarter, from $55.2 million to $57.0 million, with a 10.6% increase in volume offset by a pricing decline of 7.3%, and increased 29.8% on a sequential quarter basis from $43.9 million. Consolidated gross profit margin ("margin") for the quarter increased 610 basis points from 19.8%, for the same quarter last year, to 25.9%. For a quarter comparison basis, print margin increased from 27.9% to 29.7%, and apparel margin increased from 7.0% to 20.3%. Our apparel margin continues to increase on both a comparable and sequential quarter basis, as lower priced cotton is starting to favorably impact apparel's margin. The Company expects its' margins will continue to improve as average finished goods costs continue to decline and sales volume increases. Print margins improved from the continued elimination of duplicative costs by the further integration of recent acquisitions. As a result, net earnings increased from $3.9 million, or 2.7% of net sales, for the quarter ended May 31, 2012 to $8.5 million, or 6.1% of net sales, for the quarter ended May 31, 2013. Diluted earnings per share increased from $0.15 for the same quarter last year to $0.33 for the quarter.
During the quarter, the Company generated $17.0 million in EBITDA (a non-GAAP financial measure calculated as net earnings before interest, taxes, depreciation, and amortization) compared to $10.0 million for the comparable quarter last year.
The paper machines at Newton Falls Fine Paper are being dismantled and removed, forcing the St. Lawrence County Industrial Development Agency to give up on trying to persuade the mill’s owner to resell it as a turn-key business and focus instead on reuse of the site.
“There’s no possibility for the facility to have productive capability as a paper mill,” IDA Executive Director Patrick J. Kelly said. “Finding ways to redirect the site is obviously a priority.”
Sale of the mill intact collapsed in March, and its owner, Scotia Investments, Halifax, Nova Scotia, began liquidating the assets it sold at auction. The IDA had hoped for a while that either the buyers of the paper machines would change their minds about the equipment or that Scotia would rethink the sale. In the meantime, a scrapping operation has begun.
The state Department of Environmental Conservation is overseeing the removal to ensure there are no problems caused by the dismantling.
“We visit the site every few weeks,” DEC spokesman Stephen W. Litwhiler said. “It’s been very clean.”
Verso Paper Corp. announced today that the New York Stock Exchange has determined to commence proceedings to delist Verso's common stock from the NYSE due to Verso's failure to satisfy the NYSE's continued listing standard relating to market capitalization.
As previously disclosed, on December 21, 2011, the NYSE initially notified Verso that it had fallen below the NYSE's continued listing standard relating to market capitalization. To maintain the listing, the NYSE requires that Verso have an average market capitalization over a consecutive 30 trading-day period of at least $75 million. On February 6, 2012, Verso submitted to the NYSE a plan to achieve compliance with the market capitalization standard within 18 months after the initial notice from the NYSE, and the NYSE notified Verso of its approval of the plan on March 16, 2012. Verso's market capitalization exceeded the $75 million requirement during much of the 18-month plan period; however, it was not able to maintain such level at the end of the plan period as required by the NYSE. As of June 21, 2013, the last day of the plan period, Verso's 30 trading-day average market capitalization was $60.5 million.
Under the NYSE's rules, Verso has the right to a review of the NYSE staff's delisting determination by a committee of the board of directors of the NYSE. Verso has notified the NYSE that it intends to seek such review. Verso expects that the NYSE will permit the common stock to continue trading on the NYSE during the review process.
With the growing demand for large indoor posters, signs, point-of-purchase graphics and banners, Xerox’s new Wide Format IJP 2000 gives printers the extra speed needed to produce more jobs faster.
Increased speed means printers can accept and produce more wide format jobs, even last minute requests.
InfoTrends expects the retail value of wide format printing in North America to increase at a compound annual growth rate of 7.9 percent, reaching $23.6 billion by 2016.1
“The IJP 2000 breaks the mold in terms of speed and brings a huge competitive advantage to our customers,” said Dustin Graupman, vice president, Inkjet Business, Xerox. “Part of the challenge of wide format jobs is they can create a significant speed bump in the work process – and profitability. That’s why we’ve designed an uninterrupted operation right into the printer.”
Richmond, Calif., passed legislation last week that will ban the use of plastic bags in grocery and retail stores by Jan. 1, 2014, according to the Contra Costa Times.
The ordinance, passed by a divided City Council, would also impose a 5-cent fee on paper bags for two years, the report said. After two years, the fee will rise to 10 cents.
Business owners who don't comply with the new law can face fines up to $250. The ordinance will apply to all department stores, clothing stores, bookstores, specialty stores, drugstores and convenience stores, the report said. Restaurants are not covered by the legislation.
"With marketing budgets tighter than ever, the measurement tool offers print service providers the potential to help their customers improve the performance and cost-effectiveness of their print applications," said a spokesman.
"It also serves as a proof point that they can use to support their service offerings by presenting customers with the costs, results and benefits of previous customer success stories."
The "print-centric ROI tool" follows Canon research published last year that found only one in ten companies in Europe had a formal process for evaluating the effectiveness of the print they commissioned. Many felt working out the value of print was too hard to quantify.
The ROI tool is powered by Microsoft Excel and allows print service providers to profile a customer and their planned campaign to help the set out aims and objectives.
"It can be used in a number of different ways: firstly as part of a consultative approach by the print service provider towards their buyer, understanding their needs and requirements in relation to the application or campaign they are looking to purchase or commission.
"The PSP can then highlight a potential ROI that could be achieved on the back of that investment. It is also a resource for industry data and statistics, highlighting the value of specific print applications through data from a variety of European sources."
Caraustar Industries announced a price increase of $40 per ton on all grades of uncoated recycled paperboard products, effective starting with shipments on July 15, 2013.
The increase is in response to the continuing increase in costs, including raw materials, Caraustar said.
Hearst Magazines, one of the world’s largest publishers of women’s magazines, and Dr. Mehmet Oz, Emmy® Award-winning host of the nationally syndicated The Dr. Oz Show, today announced their partnership to pilot a new lifestyle magazine. Following the successful formula employed to launch Food Network Magazine in 2008 and HGTV Magazine in 2011, a debut pilot issue will hit newsstands nationwide in the first quarter of 2014, followed by a second issue, which could lead to a regular frequency in the second half of 2014.
The magazine will offer fresh lifestyle content with an upbeat, optimistic attitude, touching on physical and emotional well-being, food, beauty, real-women’s stories, news, travel and finances. A positive celebration of life, the new brand will reflect Oz’s unique persona: approachable, trustworthy, inspirational and entertaining. Features will be motivating, uplifting and informative, and focus on experiencing life to the fullest. Additional details will be released in the coming months.
“Hearst has a very successful track record of partnering with unique brands and personalities to create engaging content for readers,” said David Carey, president of Hearst Magazines. “Dr. Oz’s spirit and message clearly resonate with American women, and the time is right to translate that into a print and digital magazine that will introduce an entirely new category to the market.”
“Dr. Oz truly is ‘America’s Doctor’ and he’s been a friend of Hearst for years, contributing to and appearing in many of our titles,” said Ellen Levine, editorial director of Hearst Magazines. “He’s admired and respected for his energy and can-do philosophy—a perfect prescription for embracing every day.”
“This is about a lifestyle,” Oz said. “Feeling great is the key to living well and this content will provide women with everything they need to feel inspired and live a long, healthy, joyful life.”
Initial newsstand distribution for the first pilot issue will be 350,000 copies, with an additional 450,000 copies sent to targeted subscribers of select Hearst titles.
Catalyst Paper Corporation today announced changes to its Board of Directors with the appointment of Jill Leversage and the resignation of Giorgio Caputo.
“I would like to welcome Ms. Leversage who brings extensive financial and industry experience to the board,” said Chairman and Interim Chief Executive Officer Les Lederer. “We thank Mr. Caputo for his support during Catalyst’s reorganization and his contribution to the governance of Catalyst since the company emerged from restructuring last September.”
Ms. Leversage is a chartered accountant with more than 25 years of experience in investment banking and M&A advisory services, particularly in the forest and manufacturing industries. She holds a commerce degree from the University of Calgary and is a chartered business valuator and a Fellow of the Institute of Chartered Accountants of B.C. Ms. Leversage is chair of the British Columbia Innovation Council, a director and chair of the audit committee of Eagle Star Minerals Corp. and a director of Delta Gold Corporation. Active on numerous community boards, she received a Business in Vancouver Influential Women in Business Award in 2012 and an Honorary Doctorate from BCIT in June 2013.
West Texas Intermediate advanced for a second day amid forecasts that crude stockpiles dwindled last week in the U.S., the world’s largest oil consumer.
Futures rose as much as 0.6 percent in New York. U.S. inventories probably shrank by 2 million barrels last week as refineries increased operations, a Bloomberg News survey showed before a government report tomorrow. World oil consumption will rise in the second half of this year as economic growth continues to recover, Goldman Sachs Group Inc. said today.
WTI “continues to benefit from a more positive outlook for the U.S. economy and, most importantly, decent summer refinery runs,” said Andrey Kryuchenkov, an analyst at VTB Capital in London who predicts the U.S. benchmark may struggle to exceed $96 a barrel this month because of limited investor demand for anything but the lowest-risk assets.
WTI for August delivery was at $95.81 a barrel, up 63 cents, in electronic trading on the New York Mercantile Exchange at 9:36 a.m. London time.
Sappi Fine Paper North America announced today the debut of Print &, an insightful publication highlighting the interrelationship between print and digital media. Rather than being at odds, Print & highlights persuasive study results showing how print drives return on investment (ROI) when used in combination with alternative media to create effective integrated campaigns. Through independent research and compelling examples, Print & explores data on demographic preferences, emotional triggers as well as shopping behaviors that show how print creates an interactive, visually intriguing and tactile experience. As an executive sponsor of HOW Design LIVE 2013, Sappi Fine Paper North America will be debuting Print & at this year's conference taking place in San Francisco on June 22-26.
"For the past decade, the increase in digital advertising spend has led to assumptions that print would soon reach its demise, however, industry studies show that the opposite is true," says Patti Groh, marketing director, Sappi Fine Paper North America. "The fact of the matter is that while this industry is constantly evolving, print and digital are proving to be mutually supportive, and brand marketers are learning to play to the strengths of each."
Today's Marcom managers, ad planners and publishers have well over 100 media platforms to choose from – the growing majority being digital. According to a neuroscience study referenced in Print &, however, print ranked as one of the highest mediums for emotional impact because the physical act of handling tangible material feels more "real", triggering emotional reactions which leave a "deeper footprint" in the brain.
Based on these findings, conclusions can be drawn that the brain associates the tactile quality of a printed piece with its perception of the brand; which explains why print remains a key medium for marketing campaigns that target high-end, high-value products or services. The millennial generation is also more receptive to print than some might expect, where among 18 to 24 year olds, 69 percent now say they prefer print and paper communications to reading off a screen. As shown in case studies and examples illustrated in Print &, when marketers strategically leverage a combined approach of print and other media, it can produce the greatest return of marketing impact on dollars spent.
One of the largest global industry networks, the Consumer Goods Forum (CGF) has advised its members in its recently released Sustainability Activation Toolkit that the Programme for the Endorsement of Forest Certification (PEFC) is one of the forest management schemes that it supports.
The CGF brings together more than 400 retailers, manufacturers, service providers and other stakeholders across 70 countries with combined sales of EUR 2.5 trillion. This includes a wide range of well-known businesses such as Carrefour, Coca Cola, IBM, Johnson & Johnson, Kellogg's, Kimberly-Clark, Loreal, Nestle, Proctor & Gamble, Tesco, and Walmart.
In 2010, the CGF demonstrated leadership by pledging to mobilize resources within its respective businesses to help achieve zero net deforestation by 2020 in its Resolution on Deforestation. The publication of the Activation Toolkit takes the Resolution a vital step forward by helping companies of all sizes successfully implementing the necessary measures towards this ambitious goal.
What impact will the pending Marketplace Fairness Act have on direct-to-customer merchants?
Though the U.S Senate approved the Marketplace Fairness Act in April, no two IRCE 2013 attendees interviewed by Multichannel Merchant seemed to have the same opinion about the pending legislation.
Daryl Logullo, director of ecommerce for Kellyco Metal Detectors said that the Marketplace Fairness Act is going to face a big challenge especially when it gets to the House of Representatives.
“Some people would argue that it is unconstitutional because it’s a tax issue across multiple states,” said Logullo.
Logullo said he thought it would over-complicate things for retailers online, creating mass chaos and confusion.
“I’d be surprised if it does get through and becomes law,” said Logullo.
Logullo said if it does go into effect, it’s going to ask retailers to take a hard look at their pricing structure. He added that constitutionally, the Marketplace Fairness Act is questionable.
“We’re kind of waiting to see what happens,” said Logullo.
Eric Castellucci, online marketing manager for WrigleyvilleSports.com, said his company is in the middle of where they stand on the Marketplace Fairness Act.
He said customers like it a lot better when it’s a little cheaper for them. He said overall it won’t be too big a change for his company. Castellucci didn’t think it would be too big a shock for them, but it would be nice not to have to implement the changes as a result of the Marketplace Fairness Act.
According to Brad Wolansky, president of consumer direct and CMO of Yankee Candle said during a video interview at IRCE, since they have 550 stores they are in most states in the nation, they are already collecting sales tax.
Brent crude traded near its lowest level in three weeks after slipping below $100 a barrel amid speculation that a cash crunch may restrain economic growth in China, the world’s largest energy user.
Brent was little changed, having slumped 4.7 percent last week, the biggest loss since April. The People’s Bank of China said the nation should fine-tune its policies as a cash squeeze in the banking system risks exacerbating an economic slowdown. The U.S. and 10 other countries pledged June 22 to increase support for rebel forces in Syria. Hedge funds and other large speculators increased their net-long position on West Texas Intermediate crude last week.
“All of a sudden, demand concerns are back in focus and nobody is speaking about supply risks anymore,” said Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt. The bank forecasts that Brent will average $105 during the next quarter. “China’s economy seems to be slowing down further,” he said.
Brent for August settlement was at $101 a barrel, 9 cents higher on the ICE Futures Europe exchange at 11:25 a.m. London time, after dropping below $100 for the first time since June 3.
Ahlstrom, a global high performance fiber-based materials company, offers innovative and sustainable papers for printing of efficient outdoor and indoor advertising. During FESPA 2013 at ExCeL London on June 25-29, 2013, the company will highlight how sustainability is a vital criterion for the advertising industry and showcases its newest products: a metalized paper for stunning outdoor billboards, a reinforced paper for scrolling backlit and a block-out paper for 2-sides printed indoor posters.
Ahlstrom ChantafficheTM poster paper is a powerful advertising media with clear environmental credentials. In 2013, Ahlstrom conducted a life Cycle Assessment (LCA) study on several paper and plastic substrates used for posters applications to determine the impact of those products on the environment. The Environmental Product Declaration of the Chantaffiche 250, 115 g/m² for billboard applications will be made available at the show. Reviewed externally according to ISO 14040/ISO14044 standards, this study demonstrates that paper is better than plastic in nine out of nine environmental indicators.
"With this study, our aim was to identify opportunities for improving our product environmental performance and make comparison between paper and plastic substrates with respect to environmental credentials. We believe that paper as a recyclable and biodegradable product is the right choice for impactful campaigns and minimum environmental impact," explains Jan Witt, Product Manager, Poster Papers.
Ahlstrom ChantafficheTM is the widest range of posters papers for printing of advertising campaigns. This extensive range of coated poster papers works perfectly with offset, screen or inkjet wide-format printing, whether using solvent, UV or latex inks.
Twin Rivers Paper Company, a leader in lightweight specialty packaging, label and publishing papers, announces the release of Acadia® Dairy Wrap, an oil- and grease-resistant (OGR), uncoated packaging paper specifically designed for margarine and butter wraps. FDA compliant for direct food contact and available in natural options, this state-of-the art packaging paper brings converters, brand owners and consumers a wrap that optimally performs throughout the supply chain.
“Acadia® Dairy Wrap provides superior oil- and grease-resistant properties for these demanding applications. This packaging paper is designed to provide flawless performance starting from our customer’s converting line to the consumer’s kitchen,” says Marcel Fortin, Business Development Manager.
Acadia® Dairy Wrap is part of a broad portfolio of specialty packaging papers that brand owners and converters trust for printability, quality and overall performance. These specialty packaging papers offer a wide range of basis weights, barrier technologies, advanced coatings and environmentally-friendly options.
The Sustainable Forestry Initiative® (SFI®) Inc. today reported significant growth across key performance indicators with the release of Writing the Next Chapter, SFI's 2013 Annual Progress Report.
Since 2007, forests certified to the SFI Standard® have grown by 100 million acres to 240 million acres today. Total chain-of-custody certified locations grew from 500 in 2007 to more than 2,500. Also, SFI received on-product label requests for more than 6,000 wood, paper and packaging products in 2012, up from only 50 for the entire year in 2007.
"While our Progress Report demonstrates growing momentum for responsible forestry, with indicators of success rising across the board, what's most exciting is our conservation and customer partnerships," said Kathy Abusow, President and CEO of SFI. "By working together, leading environmentalists, community advocates and SFI Program Participants are writing the next chapter to promote sustainable forestry, to improve forestry practices and to encourage responsible purchasing of forest products."
With a $400,000 initial investment in 2010, SFI's Conservation and Community Grant program grew to over $4.8 million by 2012 with leveraged contributions and 150 project partners including the American Bird Conservancy, Habitat for Humanity affiliates, National Association of State Foresters, National Audubon Society, Nature Conservancy of Canada, U.S. Endowment for Forestry and Communities, and World Resources Institute.
On the supply-chain front, the report congratulates four market leaders – Time Inc., the National Geographic Society, Macmillan Publishers and Pearson – for stepping forward to become SFI Founding Forest Partners, making five-year commitments to increase certification across the forest products supply-chain.
Smurfit Kappa Group has published its sixth annual Sustainable Development Report for 2012.
The report details the continuing progress in the Group’s sustainable business initiatives and underscores Smurfit Kappa’s belief that profitable growth can be achieved by providing its customers with innovative and sustainable packaging solutions while maintaining sustainable business practices. Significant progress in the Group’s Chain of Custody certification programme in 2012 resulted in the Group achieving one of its long-term sustainable development commitments in February 2013, two years ahead of schedule.
Gary McGann, Group Chief Executive Officer commented: “Today’s report and the early achievement of one of our long-term sustainable development goals further demonstrates our commitment to sustainability and social responsibility.
In 2013, we will continue the drive to demonstrate to all our stakeholders that our sustainability objectives are achievable, beneficial to our business and economically viable. Sustainable development is a core principle in how we run our business each and every day and we make coninued efforts to promote sustainable management practices across our operations. Sustainability has become a key business driver and is a platform for differentiation in the market.”
AAA Fuel Gage 6/21/13
National Unleaded Regular:
Current Average - $3.592/gallon
Month Ago Average - $3.660/gallon
Year Ago Average - $3.472/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Current Average - $3.852/gallon
Month Ago Average - $3.888/gallon
Year Ago Average - $3.750/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08
Current Exchange Rates as of 6/21/13
American Dollar to Canadian Dollar = 0.963770
American Dollar to Chinese Yuan = 0.163026
American Dollar to Euro = 1.321269
American Dollar to Japanese Yen = 0.010232
American Dollar to Mexican Peso = 0.075396
West Texas Intermediate crude rebounded after the biggest drop in seven months yesterday. Prices are headed for the first weekly decline since May.
Futures advanced as much as 0.7 percent, trimming the week’s loss to 2.4 percent. Oil fell yesterday after the U.S. Federal Reserve signaled it will scale back economic stimulus. China’s central bank injected funds to alleviate the worst cash crunch in at least a decade. WTI’s discount to Brent widened after closing yesterday at the smallest since 2011.
“The oil market, indeed most commodity markets, are trying to assess whether yesterday’s Fed-induced selloff was overdone,” Nic Brown, head of commodities research at Natixis in London, said in an e-mailed response to questions. “Some support is probably coming from the addition of liquidity in Chinese money markets overnight.”
WTI for August delivery advanced as much as 70 cents to $95.84 a barrel in electronic trading on the New York Mercantile Exchange and was at $95.62 as of 11:25 a.m. London time.
Avery Dennison today introduced its first Select Solutions™ portfolio of specialized pressure-sensitive materials. These new portfolios feature low minimum order quantities, day-of price quotations and four-day shipping, and will allow converters to address specific, unique-application label needs.
“The first Select Solutions portfolio is a collection of Holographic label materials which is ideal for commemorative products, seasonal packaging or instances where brand owners want to communicate a product’s premium nature and increase its shelf appeal,” says David Collins, director, prime papers, Avery Dennison Label and Packaging Materials – North America. “By integrating holographic label materials with standard packaging, products can attract consumers and impact their decision at the point of purchase.”
The portfolio of film and paper materials uses a multi-layered coating to refract light and create a variety of optical effects, including iridescent and prismatic visuals. It includes semi-conformable and squeezable label materials for a wide variety of containers used in the food, beverage, wine, spirits, home and personal care market segments. In addition to their performance at shelf, materials in the holographic portfolio are engineered for superior converting and dispensing.
The American Forest & Paper Association has released its May 2013 U. S. Containerboard Statistics Report.
Containerboard production increased 7.3 percent over April 2013 and 4.5 percent over the same month last year. The month-over-month average daily production increased 3.8 percent. The containerboard operating rate for May 2013 gained 3.6 points from April 2013, from 94.3 percent to 97.9 percent.
The American Forest & Paper Association has released its May 2013 Kraft Paper Report.
Total Kraft paper shipments were 128.5 thousand tons, a decrease of 3.3 percent compared to the prior month. Bleached Kraft paper shipments increased year-over-year 24.5 percent, but the 11.5 percent year-over-year decline in the larger category of Unbleached Kraft paper shipments was enough to bring overall Kraft paper shipments down 7 percent year-over-year. Total month-end inventory increased 6.3 percent to 70.7 thousand tons this month compared to April 2013 month-end inventories.
The American Forest & Paper Association has released its May 2013 U.S. Paperboard Report.
Total boxboard production decreased by 0.6 percent compared to May 2012 but increased 0.6 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 decreased compared to May 2012 and decreased compared to last month. The production of Recycled Boxboard increased compared to May 2012 and increased when compared to last month.
Sonoco today announced that it will raise the price for all grades of uncoated recycled paperboard (URB) products by $40 per ton, effective with shipments in the United States and Canada beginning July 8, 2013.
"Unfortunately, the price increase is necessary to recover rising recovered paper and other raw materials costs," said Marty Pignone, vice president, Primary Materials Group, North America. "The posted price for old corrugated containers (OCC) in the Southeast U.S. has risen approximately 60 percent since September 2012 and OCC being sold in the market today is running above the posted price of $120 per ton. In addition, demand for all grades for URB products is strong."
As banks, utilities and other types of companies push paperless bills saying electronic communications are “greener” and “protect the environment,” results of a new nationwide poll show consumers just don’t buy those claims. In fact, an overwhelming majority -- 87% -- believe the main reason companies want to shift customers to electronic delivery formats is to save money, not to be environmentally responsible.
The poll, conducted for Consumers for Paper Options (CPO) to determine American attitudes toward government mandates and private sector programs that require electronic-only communications, also found that 84% of consumers think companies should not be able to force the shift to electronic bills, statements and other documents. (The Executive Summary of the poll, Access for All: American Attitudes Regarding Paper & Digital Information, is available here.)
It’s clear that just about everybody thinks “go paperless, go green” marketing is ultimately about cost savings – a perfectly legitimate corporate goal – so why not just say that? Does is make good business sense to continue making unfounded claims about the sustainability of paper (aka greenwashing) if most consumers don’t believe them?
Companies that continue to use unsubstantiated environmental marketing claims about print and paper not only risk eroding trust in their brands, but also may invite attention from the U.S. Federal Trade Commission (FTC). The FTC’s Guides for the Use of Environmental Marketing Claims, better known as the Green Guides, are very clear that environmental claims should be based on “competent and reliable scientific evidence” which they further define as “tests, analyses, research, or studies that have been conducted and evaluated in an objective manner by qualified persons and are generally accepted in the profession to yield accurate and reliable results.”
In the final moments of Apple’s e-book price-fixing trial, federal Judge Denise Cote uttered the words Apple attorneys have surely longed to hear, saying the issues over the course of the trial “have somewhat shifted.” For Apple attorneys, that observation comes in welcome contrast to Cote’s much-discussed pre-trial “tentative view,” in which she said the government would likely prove its case. Asked if that comment bolstered hopes that Apple had succeeded in reversing the judge’s initial view of the case, a source close to Apple’s defense team smiled broadly, saying “I think we’re good.”
After more than two weeks of testimony, Cote officially closed the record on Apple’s e-book price-fixing trial at 2:33 pm on June 19. Closing arguments are scheduled to take place tomorrow, June 20, beginning at 9:30 a.m. In thanking the attorneys for their hard work, Cote said both sides should be proud. “It was a privilege to preside over this trial,” Cote said. “I worked hard and thought I learned a lot.” She added that she was “deeply gratified” for the help she received in understanding the issues.
Following tomorrow’s summations, a verdict and written opinion could come within weeks, but a court official said a good rule of thumb would be closer to two months.
Fort Dearborn has acquired AC Label, which includes St Louis Litho and St Louis Pressure Sensitive. AC Label was a portfolio company of Emigrant Capital, the private equity subsidiary of Emigrant Bank.
“The acquisition of AC Label enhances Fort Dearborn’s leadership position in the decorative label marketplace by broadening our geographic footprint, capabilities and market penetration,” said Fort Dearborn CEO Jeff Brezek. “We are very pleased to add AC Label to the Fort Dearborn organization and look forward to the opportunity to expand our presence in the spirits, beverage, nutraceutical and confectionery end markets.”
Fort Dearborn supplies a complete range of label solutions including cut and stack, pressure-sensitive, roll-fed and full-body shrink-sleeve labels across multiple printing technologies, including digital, lithographic, flexographic and rotogravure. The company will now have three additional facilities: St. Louis; Louisville, KY; and Provo, UT. The company’s solutions offering will be expanded to include additional pressure-sensitive, cut and stack, roll-fed and digital printing capacity, as well as extended specialty pressure-sensitive (screening, stamping, extended text), cut and stack (bronzing) and prepress capabilities.
Rite Aid Corporation today reported operating results for its fiscal first quarter ended June 1, 2013. The company reported revenues of $6.3 billion, net income of $89.7 million or $0.09 per diluted share, and Adjusted EBITDA of $344.8 million, or 5.5 percent of revenues.
"We kicked off our new fiscal year by posting strong first-quarter results that reflect our continued operational and financial progress," said Rite Aid Chairman, President and CEO John Standley. "During the quarter, we generated net income for a third consecutive quarter and increased Adjusted EBITDA by more than $70 million over last year's first quarter."
Revenues for the 13-week quarter were $6.3 billion versus revenues of $6.5 billion in the prior year first quarter. Revenues decreased 2.7 percent primarily due to the impact of lower cost generics on pharmacy same store sales.
Same store sales for the quarter decreased 2.5 percent over the prior year 13-week period, consisting of a 3.8 percent decrease in pharmacy sales, partially offset by a 0.4 percent increase in front end sales. Pharmacy sales included an approximate 458 basis point negative impact from new generic introductions. The number of prescriptions filled in same stores decreased 0.1 percent over the prior year period. Prescription sales accounted for 67.5 percent of total drugstore sales, and third party prescription revenue was 97.0 percent of pharmacy sales.
Net income was $89.7 million or $0.09 per diluted share compared to last year's first quarter net loss of $28.1 million or $0.03 per diluted share. The improvement in net income resulted primarily from an increase in Adjusted EBITDA and decreases in interest and debt retirement expenses.
FedEx Corp. today reported earnings of $2.13 per diluted share for the fourth quarter ended May 31. This excludes a $0.98 per diluted share business realignment program charge and a previously announced $0.20 per diluted share noncash aircraft impairment charge at FedEx Express. Including these charges, fourth quarter earnings were $0.95 per diluted share.
Last year’s fourth quarter earnings were $1.99 per diluted share, excluding a $0.26 per diluted share noncash aircraft impairment charge at FedEx Express. Including last year’s charge, earnings were $1.73 per diluted share.
“FedEx Ground posted another strong year and FedEx Freight margins continued to improve,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “These positive developments did not fully offset tepid economic growth and customer preference for less costly international shipping services. FedEx Express results improved in the fourth quarter, and while near-term challenges remain, we are confident we are positioning FedEx for profitable, long-term growth.”
FedEx is revising its earnings guidance practices to focus on full fiscal year projections with quarterly updates. For fiscal 2014, the company projects earnings per share growth of 7% to 13% from fiscal 2013 adjusted results. This assumes the current market outlook for fuel prices, U.S. GDP growth of 2.3% and world GDP growth of 2.7%. Capital spending for fiscal 2014 is expected to be approximately $4 billion.
Consolidated Graphics, Inc. announced today that it has entered into a letter of intent to acquire Universal Printing Company located in St. Louis, Missouri. Terms of the transaction were not disclosed.
Founded in 1939, Universal Printing Company is one of the country's leading web and sheetfed commercial printing companies, serving customers nationwide from a state of the art facility in St. Louis, Missouri. Universal's 150 employees provide first class service to a blue chip customer base.
"Universal Printing Company is an extremely well run company which will further expand our capabilities and footprint in the Midwest as we continue to build on our industry leading position," commented Joe R. Davis, Chairman and Chief Executive Officer of Consolidated Graphics. "We believe Universal is an attractive company that fits our proven acquisition strategy."
Jim Cohen, Executive Vice President, Mergers and Acquisitions, of Consolidated Graphics added, "Bob Ebel's expertise in guiding Universal's growth over the years is impressive, and he will be an excellent addition to what we like to refer to as the best peer group in our industry – our 70 operating company presidents."
Catalyst Paper today announced the appointment of Leslie Lederer, a director and chairman of the company as the interim president and chief executive officer. The appointment takes effect on Kevin J. Clarke’s departure as Catalyst CEO and board member at the end of June.
Mr. Lederer is a former industry executive with Smurfit-Stone Container Corporation with extensive experience in the industry, and a member of the Illinois Bar.
Mr. Clarke’s resignation was announced in April and the Board initiated an executive search for his successor at that time. Mr. Clarke is leaving the company and the board to return to his home in the state of New York where his family resides.
Mr. Lederer’s appointment will enable the Board to complete the executive search in due course and will facilitate a seamless transition once a new chief executive officer is selected.
West Texas Intermediate crude fell for a second day following slower-than-expected economic data from China and Chairman Ben S. Bernanke saying the Federal Reserve may start reducing bond purchases later this year.
Futures slid as much as 2.2 percent. A preliminary reading of China’s Purchasing Manager’s Index for June dropped to 48.3, compared with the 49.1 median estimate in a Bloomberg News survey of 15 economists. The Fed may begin tapering bond purchases this year and end them in 2014 should the economy continue to improve, Bernanke said in Washington. U.S. crude inventories rose by 313,000 barrels last week, the Energy Information Administration said yesterday.
“It’s not surprising that oil is lower when you look at the rubbish Chinese PMI data from last night,” Michael Hewson, a London-based market analyst for CMC Markets Plc, said by phone today. “Added to that you have Mr. Bernanke’s stimulus withdrawal that may affect growth in the U.S., and these two factors are enough to pull down prices.”
WTI for July delivery, which expires today, dropped as much as $2.17 to $96.07 a barrel in electronic trading on the New York Mercantile Exchange.
Today, First Book, a nonprofit social enterprise that provides new books to children in need, and Domtar, the Sustainable Paper Company, announced the expansion of their partnership for literacy. The next phase of collaboration will help bring 60,000 brand-new, high-quality books to kids from low-income families across North America.
The Powerful Pages campaign will include "library makeover" grants to 14 schools and programs in U.S. towns that are home to Domtar mills and to eight similar organizations in Domtar host communities and area First Nation communities in Canada. These grants will give educators the funds to purchase an estimated 600 brand-new books through the First Book Marketplace, a website available exclusively to First Book programs.
"Domtar's commitment to kids in need in their communities is exemplary," said Kyle Zimmer, president and CEO of First Book. "We learned how dedicated they were when we worked together last year, and we're thrilled to expand our partnership to reach so many more children with the books and resources they need."
"Investing in the economic and social development of our host communities, and literacy efforts in particular, is a cornerstone of our sustainable business commitment at Domtar," noted Paige Goff, Domtar's Vice-President of Sustainability and Business Communications. "We are honored to be able to support First Book's laudable efforts to get new books in the hands of young readers who otherwise would be going without."