Paperclips Blog | International Paper Results

  • 11.15.2011

    The Home Depot Announces Third Quarter Results

    The Home Depot®, the world's largest home improvement retailer, today reported third quarter of fiscal 2011 net earnings of $934 million, or $0.60 per diluted share, compared with net earnings of $834 million, or $0.51 per diluted share, in the same period of fiscal 2010. For the third quarter of fiscal 2011, diluted earnings per share increased 17.6 percent from the prior year.

    Sales for the third quarter totaled $17.3 billion, a 4.4 percent increase from the third quarter of fiscal 2010. Comparable store sales for the third quarter of fiscal 2011 were positive 4.2 percent, and comp sales for U.S. stores were positive 3.8 percent.

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  • 11.15.2011

    Staples, Inc. Announces Third Quarter 2011 Performance

    Staples, Inc. announced today the results for its third quarter ended October 29, 2011. Total company sales for the third quarter of 2011 increased 0.5 percent to $6.6 billion compared to the third quarter of 2010. Net income for the third quarter of 2011 increased 13 percent year over year to $326 million. Diluted earnings per share, on a GAAP basis, increased 18 percent to $0.47 from $0.40 achieved in the third quarter of 2010, and increased 15 percent compared to adjusted diluted earnings per share of $0.41 achieved in the third quarter of 2010.

    On a GAAP basis, third quarter 2011 operating income rate improved 25 basis points to 8.12 percent compared to the third quarter of 2010. Excluding the impact of integration and restructuring expense in the prior year period, third quarter 2011 operating income rate improved 11 basis points from 8.01 percent. This increase primarily reflects improved product margins, offset by increased supply chain costs and investments in labor to support growth initiatives.

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  • 11.15.2011

    Urban Outfitters Reports Record Q3 Sales

    Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, Free People, BHLDN, Terrain and Urban Outfitters brands today announced net income of $50.7 million and $146.0 million for the three and nine months ended October 31, 2011, respectively. Earnings per diluted share were $0.33 for the quarter and $0.91 for the nine months ended October 31, 2011.

    For the third quarter of fiscal 2012, total company net sales increased 6% over the same quarter last year to $610 million. Comparable retail segment net sales, which include the direct-to-consumer channels, decreased 3% for the quarter, while comparable store net sales decreased 7% for the quarter. Comparable retail segment net sales at Free People increased 14%, were flat at Urban Outfitters, and decreased 7% at Anthropologie. Direct-to-consumer comparable net sales increased 15% and wholesale segment net sales rose 13% for the quarter.

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  • 11.15.2011

    American Business Media and Northwestern University Form Strategic Alliance

    American Business Media (ABM) and Northwestern University (including its Media Management Center and its Medill School of Journal, Media, Integrated Marketing Communications) today entered into an agreement in which the two organizations will form a strategic alliance to cooperate and share expertise to benefit their respective communities.

    ABM and Northwestern will partner to develop customized education programs with curricula focused on key b-to-b industry objectives and continuing education. The first B to B Advanced Leadership Program, taking place January 8 – 12, 2012, at the Allen Center in Evanston, IL, will provide industry executives with a high-level, cross-functional view of the media business and help them to manage change in the face of transformation.

    During the Program, intensive educational modules will be taught by professors from the Kellogg School of Management and the Medill School of Journalism, Media, Integrated Marketing Communications, as well as top b-to-b industry executives. The curriculum includes sessions on such subjects as Strategic Planning, Thinking Like an Investor and Buy vs. Build, and it will also cover the latest developments in business models, such as Marketing Services, Paid Content and Mobile Media.

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  • 11.15.2011

    First Ever Magazine Dedicated to Reality TV Debuts in January 2012

    American Media, Inc., the leading publisher of celebrity magazines and web sites in the United States, today announced the launch of Reality Weekly, the first weekly magazine devoted exclusively to the hottest reality shows on TV and their stars, and a companion web site realityweekly.com. It fulfills a fan’s fantasy of one-stop shopping for the juiciest news and sound bites of the week, and what didn’t make it onto the screens. The announcement was made by David J. Pecker, AMI Chairman, President and CEO.

    Reality Weekly will feature glossy pages splashed with photos of reality TV’s biggest stars with news, recaps, tidbits, and inside scoop. Each issue will include a rotation of star-studded contributors, including Simon Cowell (“The X-Factor”), Ryan Seacrest (“American Idol”) and Donald Trump (“The Apprentice.”)

    Reality Weekly will be sold on newsstands as well as at all major mass merchants and drug chains such as Walmart, Kroger, Dollar General, Winn-Dixie, Kmart, A&P, and Rite Aid beginning in January 2012. Each issue will be priced at $1.79 (“Less Money, More Fun”).

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  • 11.15.2011

    Arctic Paper S.A. Reports Third Quarter Results

    Arctic Paper S.A., the second-largest European producer of bulky book paper and one of Europe’s leading producers of high-quality graphic paper, generated revenues in the 3rd quarter of 2011 of over PLN 641.4 million, 2.3% higher than in the same period of 2010, and EBITDA of over PLN 43 million, 69.3% higher than achieved in the 3rd quarter of 2010. In the 3rd quarter of 2011 the company earned a net profit of almost PLN 34.1 million. This means that the company has made up a significant part of the loss generated in the 1st half of this year.

    Despite continuing lower demand for graphic fine paper in Europe, the company increased its sales volume in the 3rd quarter of 2011 compared to the 2nd quarter of 2011 by 6.1%. Nonetheless, it was 1.4% below the volume recorded in the 3rd quarter of 2010.

    Thanks to the increase in sales volume, use of the company’s production capacity returned to the high level of 95%.

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  • 11.15.2011

    Crude Trades Close to Two-Day Low in New York

    Oil fell for a second day in New York as speculation Europe will struggle to contain its debt crisis countered signs of declining fuel stockpiles in the U.S., the world’s largest crude consumer. Brent rose in London.

    West Texas Intermediate slipped, extending yesterday’s 0.9 percent drop, as Italy’s borrowing costs climbed, adding to concern that Europe’s turmoil is worsening. U.S. crude inventories probably shrank for a second week, according to a Bloomberg survey before an Energy Department report tomorrow. Crude may advance to more than $200 a barrel if tensions over Iran’s nuclear program lead to conflict, SEB AB said.

    “Crude has been suffering from renewed recession fears in the Euro-zone and strong gains in the dollar index,” said Andrey Kryuchenkov, a London-based analyst at VTB Group who predicts Brent prices will end the year close to current levels. “Fears over the ongoing debt crisis are still dominating headlines. The situation will not go away overnight.”

    Crude for December delivery was at $97.63 a barrel, down 51 cents, in electronic trading on the New York Mercantile Exchange at 11:11 a.m. London time. Prices have risen in the last six weeks, the longest run of gains since April 2009.

    Brent for December settlement, which expires today, was up 31 cents, or 0.3 percent, at $112.20 a barrel on the ICE Futures Europe exchange. The more actively traded January contract climbed 37 cents to $111.65.

    The European benchmark crude was $14.29 a barrel higher than New York futures, after ending yesterday at a $13.75 premium, the lowest since May 25. The spread is down 48 percent from a record $27.88 on Oct. 14.

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  • 11.15.2011

    Brown Printing Extends and Expands Relationship with Future US

    Brown Printing Company announced that it has signed a multiyear, multimillion dollar agreement with Future US Inc. to supply manufacturing and distribution solutions for 20 of its titles and specials. This agreement expands the existing relationship, maintaining Brown’s position as Future’s top print supplier.

    Under the agreement, Brown will continue to produce 19 different market-leading titles and specials including Official Xbox Magazine, PlayStation: The Official Magazine, Nintendo Power, PC Gamer, Guitar World, Maximum PC and Mac|Life. The agreement also expands Future and Brown’s relationship with the addition of Revolver magazine which will begin production at Brown’s Woodstock, IL facility in January of 2012.

    “Future US is delighted to extend our relationship with Brown Printing,” stated Michael Hollister, Production Director at Future US Inc. “Over the past several years, they have been and remain an outstanding solution provider. Brown Printing services are top notch, ranging from high-quality manufacturing and distribution to exceptional customer service and a willingness to go the extra mile.”

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  • 11.15.2011

    A strong record of efficiency – CEPI Sustainability Report 2011

    The European paper industry today launched its fifth Sustainability Report, in which it highlighted its impressive performance over the last years focusing on resource efficiency and innovation.

    In the reporting period of 2009 and 2010, the pulp and paper industry has been recovering from the financial crisis while coping with increased energy costs and various problems in the availability of raw materials. In spite of this, recycling has increased and certification of wood used in mills has risen to a new level. The industry has further reduced CO2 emissions and reduced its energy consumption. The percentage of companies with environmental management systems is at an all time high of 90%. On the social side, CEPI has started a social dialogue with EMCEF, the European Employees Federation representing paper industry employees, in which much focus is given to health and safety, as a priority.

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  • 11.15.2011

    Conde Nast To Put All 18 Titles on NOOK Tablet

    Conde Nast announced today that all 18 of its magazines will soon be available on the Barnes & Noble NOOK Tablet and NOOK Color. Seventeen of those magazines will be available on NOOK by the end of November while Vogue will join the platform in early 2012.

    Single copies and monthly subscriptions will be available. Current print subscribers will access digital editions for free while new monthly subscribers will get a 14-day trial to the digital editions.

    Conde Nast titles on the NOOK will include Allure, Architectural Digest, Bon Appetit, Brides, Conde Nast Traveler, Details, Glamour, Golf Digest, Golf World, GQ, Lucky, Self, Teen Vogue, The New Yorker, Vanity Fair, W and Wired.

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  • 11.15.2011

    North America’s First High-Recycled Coated Paper for Books Rolls out on America Recycles Day

    Today, on America Recycles Day, FutureMark® Paper Company rolls out the first high-recycled premium coated paper produced in North America especially for textbooks, cookbooks, children’s books and other picture books requiring premium print fidelity. Scholastic, an innovative children’s publishing, education and media company, is among the environmentally progressive companies using Future Book™ paper—the first paper of its kind made predominantly of recycled fiber from an American producer.

    “Pioneering customers such as Scholastic drove FutureMark Paper to develop this breakthrough recycled book paper,” said FutureMark President and CEO Steve Silver. “They saw the high quality and recycled content of our magazine and catalog papers and pushed us to apply our expertise to a premium product they could use in books, a market that previously had no practical, high-recycled options. Now, with Future Book coated paper, we’re providing a 90-percent recycled paper that’s wholly competitive in quality and cost to conventional, non-recycled book paper.”

    Future Book coated book paper averages more than 90 percent recycled fiber in a paper category averaging less than 10 percent use of recycled fiber. According to the Environmental Paper Network Paper Calculator, 100 tons of Future Book 90+ percent recycled paper delivers the following conservation benefits when used in lieu of 100 tons of conventional, non-recycled book paper:
    Saves more than 800 million BTUs of energy, which is enough to power nine average American homes for one year; Saves more than 570,000 gallons of water; Eliminates more than 84,000 pounds of greenhouse gases; Saves approximately 1,450 trees.

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  • 11.15.2011

    Heidelberg Unveils Eurobind Pro with Book Production Line from Hunkeler

    At the Postpress Commercial Information Days in Leipzig, Heidelberger Druckmaschinen AG (Heidelberg) will be unveiling an inline system combining a digital book production line from Hunkeler AG, Switzerland, and the Eurobind Pro adhesive binder. This makes it possible to switch between digital and offset print content on a single adhesive binder. The exceptional processing quality of print products on the Eurobind Pro ensures both production types deliver the same high quality in the end product. Thanks to the combination of minimum makeready times and high production speeds of 6,000 cycles per hour, only one adhesive binder is needed for the cost-effective production of short and very short runs and long industrial-scale runs comprising up to 50,000 copies. This exceptional flexibility is tailored to the needs of innovative print shops as well as specialist manufacturers and service providers focusing on digital printing, publishing, and document management. "This adhesive binder allows our customers to offer a broader range of products and boost their added value. The open interface of the Eurobind Pro and the modular design of the gathering machine will make it possible in the future to add a host of other creative postpress solutions," explains Thomas Krischke, Head of Postpress Commercial at Heidelberg.
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  • 11.15.2011

    Mayr-Melnhof Group Announces Results for the First Three Quarters of 2011

    The Mayr-Melnhof Group managed to generate the second quarter’s operating profit also in the third quarter. Thus, the reporting period from January to September 2011 showed improved results compared to the previous year. The folding carton business still demonstrated a stable development, in particular due to the so far persistent private consumption. However, as expected, the ongoing profit contribution from cartonboard production has decreased further. The reasons for that lie in the continued reduction in capacity utilization, as the customers plan very conservatively and consume their inventory from the still well-stocked supply chain.

    Although the economic indicators point further downwards, the prices of input factors such as fibers and chemicals only declined slowly. However, the entire industry is challenged by an increasing price pressure related to the capacity utilization. We continue to pursue our goal of maintaining the cartonboard prices with a high discipline in order to delay a margin erosion as much as possible.

    As planned, production at the newly built Turkish packaging site in Karaman, Central Anatolia, started at the end of the third quarter. Furthermore, in November 2011, we took a first step towards the Far East by acquiring a majority interest (51 %) in Firgos, a Malaysian cartonboard trader, located in Kuala Lumpur, with a folding carton site in the start-up process.

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  • 11.15.2011

    BR Printers Meeting Short-Run Book Demand with InfoPrint 5000 Inkjet Press

    Ricoh a leading provider of digital output solutions, announced that BR Printers has chosen the InfoPrint 5000 to meet the high demands of its customers looking for both color and monochrome short runs of books. BR Printers, an international commercial printer focused on the publishing market, reportedly evaluated many inkjet offerings before ultimately deciding on the InfoPrint 5000 due to its quality, high speeds, versatility and low downtime.

    Immediately after installation, the InfoPrint 5000 provided cost-savings for BR Printers. Previously, the company was outsourcing most color jobs and utilizing in-house cutsheet printers for its monochrome jobs. By replacing these models with the InfoPrint 5000, thereby eliminating the need for outsourcing, the company was able to realize bottom line increases instantly.

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  • 11.15.2011

    Asset impairment charge overshadows Catalyst improved Q3 operational results

    Catalyst Paper posted a net loss of $205.7 million ($0.54 per common share) on sales of $340.3 million during the third quarter of 2011. The net loss was largely due to a $151.0 million impairment charge on the company's Snowflake facility.

    The Q3 net loss compared with a Q2 net loss of $47.4 million ($0.13 per common share) on sales of $297.8 million. Operating results for the third quarter improved over the prior quarter, driven by higher sales volumes and paper prices, productivity gains and a lower Canadian dollar.

    "We regained momentum this quarter in productivity and operating rates," said President and CEO Kevin J. Clarke. "And our strong safety focus helped reduce lost time injuries.  Unfortunately, these improvements were overshadowed by the magnitude of the impairment charge at Snowflake, which makes very clear the relentless pressures on our industry."

    The Snowflake impairment charge consists of a full write-down of the net book value of building, machinery and equipment, as well as the cost of materials and parts inventory.  The profitability of recycled newsprint production at Snowflake is being severely impacted by demand declines and by supply and price pressures relating to recovered old newsprint (ONP) which is the mill's sole fibre feedstock. The impairment charge is therefore being taken in accordance with U.S. generally accepted accounting principles.

    Before the impairment charge and other specific items, Catalyst had a net loss for the third quarter of $14.1 million ($0.04 per common share), in contrast to a net loss before specific items of $46.9 million ($0.12 per common share) in the second quarter.  The other significant specific item during the third quarter was a foreign exchange loss on the translation of U.S.-dollar denominated debt.

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  • 11.15.2011

    Pregis Announces Third Quarter 2011 Financial Results

    Pregis Corporation, a leading international manufacturer, marketer, and supplier of protective packaging products and specialty packaging solutions, today announced its 2011 third quarter financial results.

    For the third quarter of 2011, the Company generated net sales of $241.1 million, an increase of 7.8% versus net sales of $223.7 million in the third quarter of 2010. Gross margin as a percent of net sales was 20.9% for the third quarter of 2011 compared to 21.2% for the same period last year.

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  • 11.15.2011

    Tronox Incorporated Reports Record Third Quarter and Nine-Month 2011 Results

    Tronox Incorporated, the world's fifth-largest producer and marketer of titanium dioxide pigment, today announced results for the fiscal third quarter and nine-month period ending Sept. 30, 2011. 

    Third quarter 2011 net sales were $465.4 million, a 49.0 percent increase from $312.3 million reported in the prior year's third quarter. Income from operations in the quarter was $99.2 million compared with $46.6 million in the prior year quarter.  Net income for the quarter was $98.9 million versus a loss of $25.5 million in the previous year's period.

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  • 11.15.2011

    Walmart U.S. and Sam's Club comp sales exceed guidance

    Wal-Mart Stores, Inc. today reported financial results for the third quarter ended Oct. 31, 2011. Net sales for the third quarter of fiscal year 2012 were $109.5 billion, an increase of 8.2 percent from $101.2 billion in net sales in last year's third quarter. Net sales for the quarter included $2.1 billion in sales from acquisitions in the U.K. and South Africa and a currency exchange translation benefit of $1.3 billion.

    Income from continuing operations attributable to Walmart for the quarter was $3.3 billion. Diluted earnings per share from continuing operations attributable to Walmart (EPS) for the third quarter of fiscal year 2012 were $0.97. Last year's third quarter EPS of $0.95 included a $191-million tax benefit, which was approximately $0.05 per share, related to a favorable adjustment to transfer pricing policies after negotiations with a foreign tax jurisdiction.

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  • 11.15.2011

    Three Additional Fasson(R) Label Constructions Meet New Canadian Recycling Protocol for Pet Thermoform Containers

    Avery Dennison Label and Packaging Materials announced today that three additional Fasson® label constructions have met the protocol requirements of the Association of Post-consumer Plastic Recyclers (APR) for the recycling of PET thermoformed containers. The constructions are:

    54# Semi-Gloss paper with AT-1 adhesive
    2.0 Mil Clear BOPP film with S2001 adhesive
    2.6 Mil White BOPP film with S490 adhesive
    The three additions, along with the previously approved Fasson Direct-Thermal 200HD paper with S490 adhesive, provide Canadian brands, retailers and converters a family of prime paper, filmic and variable information labeling solutions to select from when adhering to protocol requirements.

    The APR protocol was designed to improve recycling efficiencies and the quality of post-consumer plastics. The new protocol evaluates thermoform labels and adhesives to help advance greater recyclability by identifying pressure-sensitive laminates that satisfy the need to adhere and be removed prior to recycling.

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  • 11.14.2011

    J. C. Penney Company, Inc. Reports Third Quarter Financial Results

    J. C. Penney Company, Inc. today reported that adjusted net income excluding restructuring and management transition charges for the third quarter ended October 29, 2011, was $24 million or $0.11 per share. Including restructuring and management transition charges, the Company reported a net loss of $143 million or $0.67 per share. A reconciliation of non-GAAP adjusted net income to the most directly comparable GAAP financial measure is included with this release.

    Comparable store sales for the third quarter declined 1.6 percent. Total sales decreased 4.8 percent, reflecting the Company's exit from its catalog and catalog outlet businesses. As previously announced, the Company completed the sale of its outlet store business during the quarter. Internet sales through jcp.com were $341 million in the third quarter, decreasing 5.4 percent from last year. The strongest merchandise results in the period were in women's accessories and men's apparel. Geographically, the best performance was in the southeast region of the country.

    Gross margin decreased $146 million compared to last year's third quarter. As a percent of sales, gross margin decreased approximately 160 basis points to 37.4 percent, reflecting the softer-than-anticipated selling environment in the quarter and the resulting higher level of promotional activity.

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  • 11.14.2011

    Kindle Fire Newsstand to Offer Over 400 Full-Color Magazines and Newspapers

    Amazon.com, Inc. announced that the Kindle Fire Newsstand will offer over 400 full-color magazines and newspapers. Kindle Fire customers who subscribe before March 1, 2012 will also receive an exclusive free three-month trial of 17 Condé Nast magazines, including Vanity Fair, GQ, WIRED and Glamour. Kindle Fire, which ships next week, is a new class of Kindle that brings the same ease-of-use and deep integration of content that helped Kindle re-invent reading to magazines, movies, TV shows, music, apps, games, books and more. Magazines and newspapers look beautiful on Kindle Fire’s 7” vibrant multi-touch color touch-screen that delivers 1024 X 600 pixel resolution at 169 ppi and 16 million colors in high resolution. Kindle Fire Newsstand customers will be able to enjoy their favorite magazines in rich, glossy, full-color from publishers such as Condé Nast, Meredith, and Hearst. Interactive editions with built-in video and audio are also available for many magazines such as Better Homes & Gardens, Allure and Self. To learn more about the Kindle Fire Newsstand, visit http://www.amazon.com/kindlefirenewsstand.

    “We think Kindle Fire customers will love the beautiful, intuitive reading experience we’ve built for their favorite magazines such as Us Weekly, The New Yorker, and Reader’s Digest,” said Russ Grandinetti, Vice President, Kindle Content. “The response from publishers has been overwhelmingly positive and they are excited to make their magazines and newspapers available on Kindle Fire, and we’re adding new titles all the time.”

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  • 11.14.2011

    Crude Futures Decline as Italy Names New Leader, China Sees ‘Soft Landing'

    Oil dropped, erasing earlier gains, on concern that new leadership in Italy may not contain the European debt crisis and China’s demand for crude may weaken.

    West Texas Intermediate fell as much as 1 percent after earlier rising to $99.69 a barrel, the highest level since July 26. Italy’s president offered Mario Monti, a former European Union competition commissioner, the post of prime minister yesterday. The International Monetary Fund’s Deputy Managing Director Zhu Min said yesterday the world’s second-largest economy was heading for a “soft landing” as growth slows.

    “With Europe’s struggle far from over and signs of a slowdown in China, the world’s second largest consumer, the road ahead could be bumpy for oil prices,” Glen Ward, head of retail derivatives at London Capital Group Ltd. said in a note.

    Crude for December delivery was at $98.31 a barrel, down 68 cents, in electronic trading on the New York Mercantile Exchange at 11:37 a.m. London time. Prices rose 5 percent last week and have increased for six consecutive weeks, the longest run of gains since April 2009.

    Brent oil for December settlement declined 72 cents to $113.44 a barrel on the London-based ICE Futures Europe exchange. The more-active January contract was 64 cents lower at $112.29. December futures, which expire tomorrow, traded at a premium of $15.25 to New York crude, compared with a record $27.88 on Oct. 14.

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  • 11.14.2011

    Great Northern Wins Two Paperboard Packaging Council Awards

    Great Northern Corporation, a designer and manufacturer of consumer packaging and in-store displays, won two National Paperboard Packaging Competition awards at the annual Paperboard Packaging Council's fall meeting with its StrataGraph® brand of laminated paperboard product.

    In its 68th year of recognizing the best in paperboard packaging, 117 packages were submitted in the award competition's main category. To be eligible for the National Paperboard Packaging Competition, packages must consist of 50 percent paperboard that is visible to the end user and be designed to distribute, market and protect a product.

    Entries were evaluated by seven judges based on the package's objectives, materials used and design, printing, and converting process; the package's impact on production, manufacturing, distribution, storage and warehousing, economics, sustainability, brand enhancement and marketing; and the package's impact at the retail store shelf.

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  • 11.14.2011

    North America’s Sustainable Forestry Initiative Endorsed by PEFC

    The Sustainable Forestry Initiative® (SFI®) Inc. announced today its forest certification standard has once again met the rigorous third-party assessment of the Programme for the Endorsement of Forest Certification (PEFC).

    "PEFC International's endorsement reinforces our position as an internationally respected programme with tough requirements to strengthen forest practices and support communities across North America," said SFI President and CEO Kathy Abusow. "We are proud to be recognized by PEFC, and to be part of a global network with national members in 34 countries who share our commitment to sustainable forest management."

    Independent, non-profit SFI Inc. manages the largest single forest standard in the world – the 195 million acres/79 million hectares certified to the SFI 2010-2014 Standard in North America account for one-third of PEFC's total certified area. The PEFC endorsement means fibre from SFI-certified forests will continue to be accepted as certified content for both PEFC and SFI Chain of Custody labels.

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  • 11.14.2011

    China Shengda Packaging Group Inc. Announces Third Quarter 2011 Results

    China Shengda Packaging Group Inc., a leading Chinese paper packaging manufacturer, today announced its financial results for the three months ended September 30, 2011.

    "Volumes were 8% ahead of the same quarter last year and revenues 9% higher.  Average selling prices were marginally higher overall.  We are pleased that we increased our presence in the market place through higher levels of shipments," Mr. Daliang Teng, Chief Executive Officer of China Shengda Packaging, commented. "Despite the growth in revenues, labor and raw material cost pressures persisted and our margins were lower as we absorbed some of those higher costs.  Even so, early in the fourth quarter, raw materials prices appear to be softening and we expect to meet our full year guidance for both sales and EPS."

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  • 11.14.2011

    Joint Approach Towards An Innovative Sustainable Packaging Solution

    Innovia Films and Sappi Fine Paper Europe have joined forces to demonstrate potential laminate structures, using their respective products, suitable for end users in the food, confectionery and pharmaceutical industries. These laminates provide technical functionality in addition to being made from renewable resources and offering compostability – a focus which many packaging end users are keen to pursue.
     
    Both companies recognise that the best end-of-life options for flexible paper/film laminates are either industrial, home composting or ultimately anaerobic digestion which turns waste into a useful energy source, compared to current landfill or incineration solutions.
     
    Innovia Films with its NatureFlex™ product range, brings its unique expertise in manufacturing renewable and compostable cellulose-based films with tailored moisture and barrier properties.
     
    Sappi brings its expertise in manufacturing flexible packaging papers and now offers coated and uncoated compostable paper options; Algro® Nature is a unique compostable one side coated paper; Leine® Nature is an uncoated equivalent, which is also compostable.
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  • 11.14.2011

    Presstek Announces $11.2 Million in Profit Improvement Actions and Expects Return to Positive Adjusted EBITDA in 2012

    Presstek, Inc., a leading supplier of digital offset printing solutions to the printing and communications industries, today announced $11.2 million in annualized profit improvement actions and expects to return to positive adjusted EBITDA in the first quarter of 2012. The Company also reported financial and operating results for the third quarter ended October 1, 2011. (See "Information Regarding Non-GAAP Measures")

    Profit Improvement Actions The Company announced today that a major profit improvement initiative, launched in the third quarter of 2011, is expected to provide $11.2M in 2012 savings. Although second half 2011 earnings will see some improvement from these actions, the majority of the benefits will be realized beginning in the first quarter of 2012.

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  • 11.11.2011

    Brazil applies temporary antidumping measure against LWC from US, Finland, Sweden, Belgium, Canada and Germany

    (RISI) - The Brazilian foreign trade chamber approved yesterday a provisional antidumping measure against lightweight coated (LWC) paper imported from the USA, Finland, Sweden, Belgium, Canada and Germany. The ruling, which was requested by Brazil's sole local LWC producer Stora Enso, centers on imported LWC with basis weights of 50-72 g/m² and 60-95% brightness, made of at least 50% mechanical pulp and imported under the NCMs (Common Mercosul Nomenclature) 4810.22.90.

    The charges will apply as a fixed value in dollars per tonne, varying according to country and producer. All LWC from the US will be charged an import tariff of $161.72/tonne, while Finnish LWC exported to Brazil will pay extra $132.86/tonne apart from UPM-Kymmene ($74.14/tonne); Stora Enso Oyj ($69.04/tonne) and Sappi ($132.86/tonne).

    All Swedish LWC will be charged $120.37/tonne, while German suppliers must pay $101.71/tonne, with the exception of Norske Skog Walsum, which will pay duties of $26.82/tonne and Stora Enso Kabel ($101.71/tonne). Belgium LWC importers will face duties of $72.34/tonne, with Sappi Lanaken paying $64.68/tonne. Volumes from Canada will receive a $137.95/tonne increase.

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  • 11.11.2011

    Grainger Reports October 2011 Sales Results

    Grainger today reported sales results for the month of October 2011.  Sales increased 16 percent versus October 2010.  Results for the month included a 5 percentage point contribution from acquisitions.  Excluding acquisitions, organic sales increased 11 percent, including 9 percentage points from volume and 3 percentage points from price, partially offset by a 1 percentage point decline from 2010 oil spill related sales.  October 2011 had 21 selling days, the same as October 2010.  The 2011 fourth quarter will have the same number of selling days as the 2010 fourth quarter (63 days).
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  • 11.11.2011

    Crude Futures Head for Longest Run of Weekly Gains in New York Since 2009

    Oil rose to a three-month high, heading for the longest run of weekly gains since April 2009, on speculation that signs of U.S. economic growth and Europe’s steps to contain its debt crisis will support fuel demand.

    Crude climbed as much as 0.8 percent in New York and is poised for a sixth weekly increase. The number of Americans filing applications for unemployment benefits fell to a seven- month low, a Labor Department report showed yesterday. Italy votes today on austerity measures to clear the way for new leadership and Greece has formed a unity government.

    “Tightening supplies in the U.S. could be one explanation,” said Carsten Fritsch, an analyst in Frankfurt at Commerzbank, the fourth most-accurate forecaster of Brent prices in the third quarter. “Additionally, the debt crisis seems to fade with the new government in Greece, and maybe Italy as well. But this should be only temporary.”

    Crude for December delivery on the New York Mercantile Exchange rose as much as 75 cents to $98.53 a barrel, the highest intraday price since Aug. 1. It was at $98.14 at 11:27 a.m. London time. Prices are up 4.1 percent this week.

    Brent crude for December settlement on the London-based ICE Futures Europe exchange was up 8 cents at $113.79 a barrel. The European benchmark contract was at a premium of $15.65 to New York futures, after settling yesterday at $15.93, the lowest level since June 27.

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  • 11.11.2011

    New York Magazine Raises Cover Price $1 to $5.99

    At a time when many magazines are either lowering prices or giving away content, New York Magazine is choosing another route.

    Its final 2011 edition (a double issue dated December 19-26) will sell for the increased price of $5.99, as initially reported by Adweek. New York's last price hike was in 2009, when its single copy price tag jumped from $3.99 to $4.99.

    According to a New York rep, there are no plans to increase the sub price in 2012; the introductory price will stay at $29.97 (up 88 percent from 2005, when subs were available for $15.87).

    New York experimented with price increases on select issues in third quarter 2011, and sales remained steady despite the fluctuation.

    “While we’ve found that our ‘newsstand’ has in many ways migrated to our website nymag.com…our newsstand business remains highly profitable and an effective marketing vehicle,” says New York’s rep.

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  • 11.11.2011

    Georgia-Pacific Receives Binding Offer for EMEA Business

    Georgia-Pacific LLC announced today that it has received a binding offer from SCA to acquire the Georgia-Pacific EMEA business. Acceptance of this offer is subject to consultations with works councils where appropriate and to customary closing conditions, including regulatory clearances from competition authorities. The offered price is €1.32 billion ($1.8 billion).

    The proposed transaction includes Georgia-Pacific’s consumer and away-from-home tissue paper products and personal care businesses and manufacturing assets across Europe, including leading consumer brands as well as away-from-home and private label products developed, manufactured, marketed and sold by 5,000 employees. In the proposed transaction, SCA has agreed to hire all current Georgia-Pacific EMEA employees.

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  • 11.11.2011

    Bonnier Picks Up UFC Mag to Enter Martial Arts Ring

    The two-year-old UFC magazine is a leading source of news and features on the emerging sport of mixed martial arts (a.k.a. Ultimate Fighting Championship). And as of this December 27, the magazine will be published on newsstands and in digital under the Bonnier flag. The magazine had been working with Bonnier TransWorld and is extending the relationship to the main company, which will help give it a reach into 17 countries and also on ubiquitous digital platforms via Bonnier’s Mag+ business serving the digital magazine world. UFC programming has a broad global reach, claiming to be available to a half a billion homes in 20 languages.

    The magazine will be led by editor-in-chief Seth Kelly and Larry Menkes, publisher. Kelly returns to his EIC post after having launched the magazine originally for American Media before leaving to serve as AMI’s editorial director. The magazine will also have a site at UFC.com where breaking news and select feature content will reside. The site already attracts 7 million monthly uniques. The UFC’s Facebook presence has 6.8 million fans.

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  • 11.11.2011

    Hasbro outlines new paper procurement policy

    Hasbro, Inc. has unveiled a new Paper and Forest Procurement Policy (PFPP) intended to ensure that procurement decisions align with the company's commitment to environmental sustainability and support sustainable forest management. The news came just weeks after Mattel announced that it had set aggressive goals for the sustainable sourcing of paper and wood fiber, following pressure from Greenpeace.

    According to Hasbro, the new PFPP reiterates a company goal—announced in 2010—of 90% usage of paper packaging and in-box game content derived from recycled material or sources that practice sustainable forest management by 2015. The policy also sets stringent vendor requirements for credible third-party certification (such as the Forest Stewardship Council) of fiber. In addition, as one facet of the PFPP's standards related to avoiding fiber from controversial sources, the company is requiring that no sources of Mixed Tropical Hardwood (MTH) virgin fiber be used in products, including packaging. Earlier this year, Hasbro directed suppliers to stop using paper coming from unsustainably managed forests.

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  • 11.11.2011

    S&S Overhauls Sales Division, Revamps Marketing

    As more sales move from print to digital, Simon & Schuster has unveiled a news sales and marketing operation that will increase marketing efforts for both print and digital titles, while moving more of its sales efforts from physical stores to digital. As part of the shift, S&S is combining its field and national sales groups as well as telemarketing efforts into a new Retail Sales unit with Paula Amendolara named senior director. The new Digital Sales unit will be headed by Colin Shields and his group will be responsible for digital sales for all adult and children’s imprints to all e-bookstore accounts.
     
    As a result of the change, Frank Fochetta, director of field sales, and Lauren Monaco, director of national accounts, are leaving the company along with what are believed to be about eight other sales employees. S&S, however, said it plans to hire about that same number to beef up its marketing programs and to fill selected spots in sales.
     
    Marketing efforts will be increased at both an imprint and corporate level and in her memo to staff, CEO Carolyn Reidy said, “We will add new marketing staff to each of our publishing imprints to facilitate increased title-by-title marketing efforts through digital and traditional means.” As part of the changes in marketing, the children’s marketing team will return to the children’s division, and report to children’s group head Jon Anderson.
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  • 11.11.2011

    Quad/Graphics Announces New Agreement with Penguin Group (USA) for Expanded Digital Print-on-Demand Book Production

    Quad/Graphics, Inc., which has expanded its digital book production capacity by more than 500 percent this year, announces a new agreement with Penguin Group (USA) Inc., one of the leading U.S. adult and children’s trade book publishers, for short-run and print-on-demand production of Penguin’s U.S. trade hardcover, trade paperback and mass market books. The agreement covers all of Penguin’s imprints.

    “Our digital book printing operations are growing because they provide publishers – and their readers – a solution to many traditional book inventory challenges,” says Joel Quadracci, Quad/Graphics Chairman, President & CEO. “For Penguin, we will be able to support a ‘virtual inventory’ model for select titles within the agreement that can be printed in small quantities efficiently and on-demand. Penguin has been a leader in this area of book production, and our ability to work together with Penguin makes us partners in innovation that redefines how many books will be ordered, produced and distributed in the future.”

    Doug Whiteman, Penguin Group (USA)’s Executive Vice President of Business Operations, says Penguin will use Quad’s digital book production and supporting systems to lower inventory costs, react to demand more quickly and better serve its customers. “In recent years, we have taken steps to address the area of excess inventory and its resulting impact on the value chain,” Whiteman said. “This new agreement with Quad allows us to take another significant step in that process while also providing our customers greater access to more titles.”

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  • 11.11.2011

    Vertis Communications Responds to Surge in Growth with Adoption of New Leading Edge ERP and Print Solutions

    Vertis Communications, a results-driven marketing communications company that delivers inventive advertising, direct marketing and interactive solutions to prominent brands across North America, today announced the next step in revolutionizing its Large Format business with the implementation of an EFI™ Enterprise Resource Planning (ERP) system that offers seamless integration with Vertis’ state-of-the-art production equipment, including a new EFI VUTEk® GS3200 printer.

    With the addition of EFI Pace™ software, Vertis advances its end-to-end capabilities in large format media design and production. Clients, such as Verizon, USAA Banks, Vans and Kawasaki, will benefit from the real-time production tracking and inventory management achieved through the new cutting edge ERP system.

    “EFI advanced technology represents a powerful extension to Vertis’ full-service large format solutions, maximizing our speed, flexibility and accuracy from production to fulfillment and reporting,” said Terry Monday, Vice President of Integrated Solutions Sales, Vertis Communications. “We are eager to begin leveraging these new capabilities to continue advancing our clients’ speed to market and ROI.” In addition to the enhanced ERP system, Vertis added a world class EFI VUTEk GS3200 digital printer to its already extensive suite of digital print equipment, to meet growing Large Format customer demand. The GS3200 boasts innovative digital advancements to quickly achieve consistent print photo-quality images, crisp text, vibrant colors and white ink on rigid and flexible substrates in order to maximize the visual allure of promotional materials, from window clings, exhibits and in-store signage to POP / POS displays, billboards and fleet graphics.

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  • 11.11.2011

    Western Reports Third Quarter 2011 Results

    Western Forest Products Inc. today announced results for the third quarter of 2011. The Company reported EBITDA of $18.1 million for the third quarter of 2011 compared to $11.8 million for the third quarter of 2010.

    Q3 2011 HIGHLIGHTS: EBITDA of $18.1 million in the quarter which is a significant increase over the $11.8 million achieved in the third quarter of 2010 and is now the eighth consecutive quarter that we have achieved positive EBITDA. Net debt is reduced to $63.2 million and our liquidity is $116.0 million at the end of the quarter. Mill production was 3% higher than the previous quarter and 27% higher than a year ago. Productivity in the quarter was 1.4% higher than the same quarter of 2010. Sales revenues increased 33% over the third quarter last year. Sales volumes in each of our major product segments increased over the third quarter last year.

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  • 11.11.2011

    Resolute Forest Products Joins WWF Climate Savers Program

    World Wildlife Fund (WWF) is pleased to welcome Resolute Forest Products, an organization committed to sustainability leadership as the newest member of its prestigious Climate Savers program (www.wwf.ca/about_us/business/climate_savers).

    As part of their commitment to this partnership, Resolute Forest Products has pledged to reduce their absolute greenhouse gas (GHG) emissions by 65 per cent by 2015 below 2000 levels.

    Resolute's decision to join WWF Climate Savers commits the Company to fully confront the GHG impacts throughout the complete corporate value chain, looking at emissions both upstream and downstream of its pulp and paper and wood products operations. It also includes a commitment to work with key suppliers to assess and reduce their own contributions to carbon emissions throughout the supply chain.

    "Resolute wanted to make a bold statement to our employees, our business partners and the market that we take our responsibility for preventing climate change seriously," stated Richard Garneau, President and Chief Executive Officer. "Delivering on the commitments made through this partnership will be challenging, but will also make us a cleaner and more efficient company - focused on a balanced approach to the environmental, social and economic triple bottom line."

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  • 11.11.2011

    Nordstrom Reports Third Quarter 2011 Earnings

    Nordstrom, Inc. today reported net earnings of $127 million, or $0.59 per diluted share, for the third quarter ended October 29, 2011. This represented an increase of 7.2 percent compared with net earnings of $119 million, or $0.53 per diluted share, for the same quarter last year.

    Third quarter same-store sales increased 7.9 percent compared with the same period in fiscal 2010. Net sales in the third quarter were $2.38 billion, an increase of 14.2 percent compared with net sales of $2.09 billion during the same period in fiscal 2010.

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  • 11.10.2011

    Amazon Strongly Supports Enactment of Enzi-Durbin-Alexander Federal Online Sales Tax Bill

    Amazon.com, Inc. today confirmed its strong support for the federal bill introduced this morning by United States Senators Enzi, Durbin, and Alexander, that would create a constitutional framework for collecting sales tax online.

    "Amazon strongly supports enactment of the Enzi-Durbin-Alexander bill and will work with Congress, retailers, and the states to get this bi-partisan legislation passed," said Paul Misener, Amazon vice president, global public policy. "It's a win-win resolution - and as analysts have noted, Amazon offers customers the best prices with or without sales tax."

    If enacted, the Enzi-Durbin-Alexander bill will allow states to require out of state retailers to collect sales tax at the time of purchase and remit those taxes on behalf of customers, and it will facilitate collection on behalf of third party sellers. Thus, this bill will allow states to obtain additional revenue without new taxes or federal spending and will make it easy for consumers and small retailers to comply with state sales tax laws.

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  • 11.10.2011

    Bertelsmann’s Revenues and Group Profit Up Year-on-Year After Nine Months of 2011

    Bertelsmann, the international media group, reports increased revenues and Group profit for the first nine months of the 2011 fiscal year. Group revenues from continuing operations for January to the end of September 2011 increased by 2.3 percent to €10.7 billion. Excluding portfolio and currency effects, organic growth came to 2.8 percent. All of the Group’s divisions contributed to this result. At €1,032 million (previous year: €1.043 million) Operating EBIT remained stable at a high level; it was impacted by start-up losses incurred as planned in the building of new businesses. Return on sales was 9.6 percent for the period (previous year: 9.9 percent).

    Group profit at the end of September was €377 million, up from €357 million for the first nine months of the previous year. One major contributing factor was a substantially improved financial result, an item that was impacted by capital measures in the prior year.

    Bertelsmann remains confident about the results of the full year and confirms its forecast of moderate growth in Group revenues, Operating EBIT slightly below last year’s, and a year-on-year increase in Group profit.

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  • 11.10.2011

    Crude Rises Near Three-Month High on Europe Sentiment, U.S. Inventories

    Oil rose in New York on speculation Europe’s economy may weather the region’s debt crisis, as equity markets trimmed opening losses and the euro recovered against the dollar.

    Futures advanced as much as 1.4 percent, reversing an earlier decline of 0.6 percent. Crude fell yesterday, halting a five-day rally, amid concern that the debt crisis had spread to Italy and would stifle growth in the countries that use the euro. The International Energy Agency reduced forecasts for global oil demand in 2012 for a third month on weaker prospects for developed nations.

    “It’s quite bullish at the moment in the oil market,” said Gerrit Zambo, a trader at Bayerische Landesbank in Munich. “But the bullish sentiment can easily turn again if we see markets crashing further due to the Italian situation.”

    Crude for December delivery on the New York Mercantile Exchange rose as much as $1.37 to $97.11 a barrel. It was at $96.86 at 10:10 a.m. London time. Yesterday, the contract climbed to a three-month high of $97.84 before falling to settle at $95.74. Prices are up 5.6 percent this year.

    Brent oil for December settlement on the London-based ICE Futures Europe exchange rose $1.25 to $113.56 a barrel. The European benchmark was at a premium of $16.45 to New York crude, compared with $16.57 at yesterday’s close, the lowest since Oct. 31. It closed at a record high of $27.88 on Oct. 14.

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  • 11.10.2011

    Cascades Continues to Implement Strategic Measures and Announces Third Quarter Results

    Cascades Inc., a leader in the recovery of recyclable materials and the manufacturing of green packaging and tissue paper products, announces its financial results for the three-month and nine-month periods ended September 30, 2011.

    Third Quarter 2011 Financial Highlights
    Improved operating results compared to Q2 2011, in spite of the increase in average raw material costs and the production
    interruption following a flood in one of our tissue mills.

    27% sequential increase ($17 million) in operating income before depreciation and amortization (EBITDA), excluding specific items.

    Significant F/X gains on working capital items and on our cash management following the divestiture of Dopaco.

    Almost fourfold increase in cash flow from operations in comparison to Q2 2011.

    Notwithstanding significant improved operating results compared to the previous quarter, net loss per share, excluding specific items,of $0.05 given tax adjustments of approximately $7 million ($0.07 per share).

    Net loss per share, including specific items, of $0.20, mostly reflecting net impairment losses and unrealized losses on financial instruments (both non-cash items).

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  • 11.10.2011

    Consolidated Graphics Boosts Performance and Drives New Business with KODAK PROSPER 5000XL Press

    Consolidated Graphics, Inc., one of North America’s leading commercial printers with the world’s largest integrated digital printing footprint, has purchased a KODAK PROSPER 5000XL Press for its Automated Graphic Systems (AGS) facility in White Plains, Md. AGS is using the PROSPER Press to extend its technology leadership position in the market and provide full-color, on-demand publishing to its broad range of clients. 

    Consolidated Graphics installed the press in November 2010 as part of the PROSPER Press pioneer program and has been evaluating the device in a production environment with outstanding results. The PROSPER 5000XL Press joins the more than 30 KODAK NEXPRESS Digital Production Color Presses installed in multiple Consolidated Graphics companies to deliver versatile digital printing options from lower volumes to very high speed—all with high quality. 

    “High-volume, variable data, production inkjet printing technology is a key ingredient in our current and long-range plans, and the PROSPER 5000XL Press gives us the quality and productivity we need to move the business forward,” said Ric Davis, Executive Vice President, Purchasing and Operations, Consolidated Graphics. “We have been impressed with the performance and reliability of the press, and know that this is a smart investment for our company.”

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  • 11.10.2011

    US Retailers Forecast 2.9% Increase in Total 2011 Holiday Sales, BDO Survey Finds

    Soft consumer confidence and lingering unemployment have retailers looking to the 2011 holiday season with caution.  According to a recent BDO USA survey, chief marketing officers at leading US retailers expect a modest 2.9 percent increase in total holiday sales this year.  This is a less optimistic point of view compared to the projected 3.5 percent increase in 2010 (and the actual 5.2 percent increase reported by the National Retail Federation).  Overall, 41 percent of CMOs expect an increase, down from 2010 (52 percent) and 2009 (47 percent).  However, CMOs at the top 100 largest retailers included in the sample are more optimistic, with 67 percent expecting an increase in overall holiday sales. 

    Retailers also fear another year of excessive discounting and markdowns to clear inventory.  While 23 percent say they have increased inventory purchases for the holidays, the vast majority (65 percent) say their inventory purchases have stayed about the same compared to 2010.  Overall, CMOs expect inventory levels to be up by less than one percent (0.7 percent) – a far cry from the 2.8 percent increase projected in 2010.  Most CMOs (52 percent) also say they’re making no change in SKUs (stock keeping units).  Overall CMOs project SKUs to be down slightly (-0.2 percent), meaning less variety for consumers. 

    “With a weak jobs outlook and the economy still in flux, most retailers are not expecting big sales increases this holiday season,” said Doug Hart, partner in the Retail and Consumer Product Practice at BDO USA, LLP.  “However, larger retailers appear to be more confident that their greater purchasing power and resources will allow them to be more competitive in this environment.  Across the board retailers are dialing back the recent trend of expanding merchandise offerings, and are instead looking for a signal of recovering consumer spending before making big inventory investments.”

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  • 11.10.2011

    Paper Recycling Conference: The Mills' Vantage Point

    Concerns about the availability of recovered fiber as well as the quality of the material available were among the challenges Steve Silver, president and CEO of FutureMark Paper, based in Alsip, Ill., and Jim Porter, president of corrugated packaging and recycling at RockTenn, Norcross, Ga., saw for the paper industry.

    Silver and Porter participated in the session, “The Mill Viewpoint,” which was moderated by Kevin Duncombe, president of Western Pacific Pulp & Paper, Downey, Calif., and Jim Keefe, group publisher of the Recycling Today Media Group, Richfield, Ohio, at the Paper Recycng Conference & Trade Show. The event was Oct. 23-25 at the Marriott Downtown Chicago Magnificent Mile.

    Porter said concerns about recovered fiber availability led RockTenn to invest in virgin fiber with its acquisition of Smurfit-Stone. The acquisition helped provide balance to RockTenn’s raw material supplies, which had been heavily weighted toward recovered fiber. In 2010 recovered fiber accounted for 82 percent of RockTenn’s raw material. Following the acquisition, virgin fiber accounts for 55 percent of RockTenn’s raw material, while recovered fiber accounts for 45 percent, according to the company.

    Silver said it was unfair to say the United States suffers from low recovery rates for fiber, noting that tissue production needed to be taken out of the equation, as it cannot be recovered for recycling. In 2009, the most recent year the American Forest & Paper Association (AF&PA), Washington, D.C., has reported recovery figures for, 63.4 percent of the paper consumed domestically was recovered for recycling.

    Silver said when FutureMark was first established in November of 2009, it was 100 percent reliant on brokers for material. Since then, the mill has been developing its own collection system in an effort to lessen price volatility and have more control over quality, he added.

    Silver said most companies were not willing to pay more for recycled content in their paper, meaning FutureMark needs to be able to compete with paper made from virgin sources. This can be a challenge, particularly since the company’s recovered fiber costs increased by 45 percent from Christmas 2010 through June 2011, he added. “I can’t put a surcharge on my product if my competitor doesn’t do it when it consumes virgin material.”

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  • 11.10.2011

    Sappi Limited Announces Major Investment in North American Operations

    Sappi Limited announced today the approval of a US$170 million capital project to convert the kraft pulp mill in Cloquet, Minnesota to chemical cellulose used in textile and consumer goods markets. The planned conversion is slated to come online in 2013 and once complete will allow the production of 330,000 metric tons of chemical cellulose per year. Approved capital plans also call for a US$13 million project to upgrade coated paper manufacturing at the Sappi Somerset Mill in Skowhegan, Maine. These investments reflect Sappi Limited's confidence that the North American region can play a significant role in the global chemical cellulose market, complementing already strong market positions in release and fine papers.

    "The chemical cellulose conversion project at the Cloquet Mill is consistent with our announced strategy to diversify further into this fast growing segment," said Ralph Boettger, Chief Executive Officer Sappi Limited. "The globally low cost position of Sappi's Cloquet pulp mill will provide an attractive platform for growth with our current chemical cellulose customers as well as open up new markets to us."

    Sappi is currently the world's largest manufacturer of chemical cellulose out of its Saiccor Mill in KwaZulu-Natal, South Africa. The Cloquet project, together with the earlier announced expansion at the Sappi Ngodwana Mill in South Africa will bring Sappi's total chemical cellulose capacity to over 1.3 million metric tons per year.

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  • 11.10.2011

    Sappi Limited Results for the Fourth Quarter and Year Ended September 2011

    Financial Summary for the quarter:

    Operating profit excluding special items: US$80 million, up 33% on Q3 2011 (Q4 2010 US$129 million)
    Cash generation: US$279 million (Q4 2010 US$238 million)
    Strategic initiatives result in asset impairment and restructuring charges of US$165 million
    North American business and Southern African chemical cellulose business continued to perform strongly
    High input costs continued to squeeze margins
    Loss per share of 24 US cents (Q4 2010 EPS of 16 US cents)

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  • 11.10.2011

    Hearst supersizes HGTV Magazine rollout

    HGTV Magazine, the first new magazine introduced by Hearst Magazines since David Carey took the reins as president in mid-2010, looks like it is a runaway hit right out of the gate.

    The publisher is taking the unusual step of printing a second run of another 135,000 copies, Media Ink has learned.

    In April, Hearst and Scripps Networks Interactive’s HGTV said they would release two test issues of the magazine in October and January based on the home-improvement channel’s programming.

    The same pairing had already given rise to the successful launch of Food Network Magazine.

    Hearst introduced HGTV Magazine last month, and so far it has sold 200,000 of the original 350,000 sent to retail outlets.

    The publisher has received subscription orders for another 215,000 copies, even though Hearst and its partner Scripps have yet to greenlight the project beyond January.

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