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

02.17.2012

Orient Paper Announces Unaudited Preliminary Results for Fourth Quarter and Full Year 2011

Orient Paper, Inc., a leading manufacturer and distributor of diversified paper products in northern China, today announced unaudited preliminary results for the three months and full year ended December 31, 2011. The Company plans to release full financial results and file its Form 10-K on or before March 15, 2012 and will hold an earnings conference call to discuss its results.

For the fiscal year ended December 31, 2011, total unaudited revenue increased 21.6% to approximately $150.7 million from $124.0 million in the year ended December 31, 2010. In fiscal year 2011, the Company sold 108,174 tons and 122,320 tons of corrugating medium paper and offset printing paper, respectively, up 0.91% and 8.34% compared to fiscal 2010, respectively. In addition, the average selling prices of the Company's corrugating medium paper and offset printing paper products rose 24.93 % and 8.31 %, respectively, compared to fiscal 2010. The Company expects to report unaudited gross profit of approximately $33.0 million for fiscal year 2011, compared to $26.2 million in fiscal 2010. The Company is expecting unaudited net income to be approximately $21.5 million, or $1.17 per diluted share, up from $15.6 million, or $0.89 per diluted share, in fiscal 2010.

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02.17.2012

Twin Rivers Paper Company Simplifies Paper Selection Process

Twin Rivers Paper Company, a leader in lightweight specialty packaging, label, and publishing papers, has released a packaging swatchbook, making it easier for customers to select the right paper for their application. This swatchbook features a broad range of coated and uncoated papers designed for packaging applications that require PFOA-free grease-resistance, wet-strength, FDA compliance, printability, strength properties and recycled content. Common applications for these packaging papers include sandwich wraps, basket liners, sugar packets, print-ply for multi-wall bags, theater popcorn bags, microwave popcorn bags and much more.

The packaging swatchbook focuses on two primary brands - Acadia and Bladepak®. Acadia, an uncoated machine-finish paper is available in 15-75 lb (24x36/500) basis weights and is known for its flexibility and functionality. Acadia offers grease-resistant properties and other options ideal for waxing, extruding and laminating applications.

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02.17.2012

West Fraser Announces Fourth Quarter Results

West Fraser Timber Co. Ltd. today reported earnings after discontinued operations of $6 million or $0.14 per share on sales of $650 million in the fourth quarter of 2011 and earnings after discontinued operations of $73 million or $1.47 per share, on sales of $2,762 million for 2011.

In the quarter our lumber operations generated an operating loss of $30 million (Q3 – negative $15 million) and EBITDA of negative $8 million (Q3 - $6 million). The decline in our results reflects weaker prices for lower-grade SPF lumber and wider-dimension SYP lumber and reduced shipments.

The panel segment, which includes plywood, LVL and MDF, did not generate any operating earnings in the quarter (Q3 – negative $2 million) and EBITDA of $4 million (Q3 - $2 million) as Canadian dollar plywood and MDF prices showed some improvement.

Pulp and paper operations generated operating earnings in the quarter of $13 million (Q3 - $19 million) and EBITDA of $27 million (Q3 - $36 million). Pulp prices weakened during the quarter with the NBSK benchmark averaging 7% lower than in the third quarter.

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02.17.2012

West Linn Paper Company continues progress towards sustainability goals by achieving Climate Registered status for a third year

West Linn Paper Company achieved Climate Registered™ status by successfully measuring its carbon footprint according to The Climate Registry’s best-in-class program, then having it third party verified and reporting the data on The Registry’s website. West Linn Paper joins over 440 other leading organizations across North America in adopting a truly sustainable approach to doing business.

Measuring their carbon footprint with The Registry allows West Linn Paper Company to prepare for future regulation, identify inefficiencies and potential for cost savings, and provide real and meaningful data to their customers and shareholders about their environmental performance. It is a continued step towards reducing their energy usage, costs and carbon emissions.

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02.17.2012

MWV’s Crescendo® Approved for Chocolate and Confectionery Packaging Market

MeadWestvaco Corporation, a global leader in packaging and packaging solutions, has its Robinson EN 1230-2 sensory analysis approval for its Crescendo® paperboard for chocolate and confectionery packaging. This analysis, required for all confectionery packaging and paperboard, tests the paperboard’s ability to maintain product quality without a trace of taint or odor from the packaging. Crescendo’s approval on the Robinson test confirms its ability to maintain product integrity and value, and provides brand owners with confidence in packaging solutions for their luxury confectionery products.

Crescendo, available with one-sided coating (Crescendo C1S) or two-sided coating (Crescendo C2S), meets the high standards of packaging seen in the European chocolate and confectionery market and is safe for direct food contact. The unique fibre-mix material and finishing process results in high stiffness and durability.

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02.17.2012

MMP employees to stage second walk-out

Almost 150 employees at Mayr-Melnhof Packaging (MMP) in Bootle will walk out over redundancy terms for a second time this Friday.

The Austrian-owned company's 149 staff took action last week over the terms offered to staff facing redundancy and what they claim is an unfair method of selection.

On Friday and Saturday (10-11 February), employees went on strike and held a demonstration on site, while further industrial action took place from 13-15 February.

Action continues tomorrow (17 February) when employees will walk out for 24 hours, while a picket line will also be in place from 12-6pm Saturday. Further stoppages are planned between 21-27 February.

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02.17.2012

Cabela's(R) Unveils New Outpost Store Retail Initiative

Cabela's Incorporated, the World's Foremost Outfitter(R) of hunting, fishing and outdoor gear, announced today plans to open its first Cabela's Outpost Store, unveiling a new retail initiative that will introduce the unique Cabela's retail experience to customers in underserved markets across the United States and Canada.

Cabela's expects the first Cabela's Outpost Store, in Union Gap, Wash., a suburb of Yakima, to open in the fall of 2012. Construction is scheduled to begin in the spring of 2012.

Cabela's Outpost stores, designed for efficiency, flexibility and convenience at around 40,000-square-feet, will open in markets with less than 250,000 people, bringing the same quality products and customer service for which Cabela's is famous to hometown markets too small to support Cabela's popular next-generation stores.

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02.17.2012

Cabela's(R) Announces Plans for New Stores

Cabela's Incorporated, the World's Foremost Outfitter(R) of hunting, fishing and outdoor gear, announced today plans to open three next-generation stores and relocate its Winnipeg, Canada, store in 2013.

Construction is scheduled to begin on next-generation stores in Columbus, Ohio; Grandville, Mich.; and Louisville, Ky., in the summer of 2012 and Cabela's expects to open each location in spring 2013. Ranging from 80,000- to 88,000-square-feet, the stores will be built in Cabela's trademark style with an exterior of log construction, stonework, wood siding and metal roofing. Large glass storefronts will allow customers to view much of the stores' interior as they approach the building.

Cabela's next-generation layout is designed to maximize product assortment and availability while surrounding customers in the outdoor experience with wildlife and outdoor memorabilia displays. The Columbus, Grandville and Louisville stores will feature a Gun Library, Bargain Cave and Fudge Shop, among other features unique to each location.

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02.17.2012

Cabela's Inc. Reports Strong Top and Bottom Line Growth for Fourth Quarter Fiscal 2011

Cabela's Incorporated today reported record financial results for fourth quarter and fiscal year ended December 31, 2011.

For the quarter, adjusted for divestitures, total revenue increased 5.4% to $983.7 million; Retail store revenue increased 9.8% to $525.6 million; Direct revenue decreased 1.9% to $378.9 million; and Financial Services revenue increased 34.5% to $77.7 million. For the quarter, comparable store sales increased 1.7%. On a reported basis, total revenue increased 5.3% and Direct revenue decreased 2.1%. A detailed reconciliation is provided at the end of this release.

For the quarter, net income increased 25% to $75.0 million compared to $59.9 million in the year ago quarter, and earnings per diluted share were $1.06 compared to $0.86 in the year ago quarter, each excluding certain items. The Company reported GAAP net income of $69.8 million and earnings per diluted share of $0.99 as compared to GAAP net income of $66.3 million and earnings per diluted share of $0.95 in the year ago quarter. Fourth quarter 2011 results include impairment charges of $7.8 million pre-tax mostly related to economic development bonds; while fourth quarter 2010 results include a benefit of $9.2 million pre-tax.

For fiscal 2011, net income increased 24% to $150.8 million compared to $121.3 million last year, and earnings per diluted share were $2.12 compared to $1.76 a year ago, each excluding certain items. The Company reported GAAP net income of $142.6 million and earnings per diluted share of $2.00 as compared to GAAP net income of $112.2 million and earnings per diluted share of $1.62 a year ago. Fiscal 2011 results include impairment charges of $12.2 million pre-tax, while fiscal 2010 results include impairment and special charges of $13.6 million pre-tax.

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02.17.2012

Valassis Announces Results for the Fourth Quarter and Full Year Ended Dec. 31, 2011

Valassis today announced financial results for the fourth quarter and full year ended Dec. 31, 2011. Fourth-quarter 2011 revenues were $595.3 million, a decrease of 5.7% from $631.2 million in the prior year quarter. Full-year 2011 revenues were $2,236.0 million, a decrease of 4.2% from $2,333.5 million in full-year 2010. These decreases in revenues were due primarily to the previously announced shortfall in Run-of-Press (ROP) revenues within the Neighborhood Targeted segment and reduced spending by consumer packaged goods (CPG) clients across our various business segments.

Fourth-quarter 2011 net earnings were $34.3 million, an increase of 38.2% from $24.8 million in the prior year quarter. Fourth-quarter 2011 diluted earnings per share (EPS) was $0.76, an increase of 61.7% from $0.47 in the prior year quarter. Fourth-quarter 2011 net earnings and diluted EPS were negatively impacted by charges in an aggregate amount of $14.0 million ($8.5 million, net of tax) and $0.19, respectively, primarily related to the restructuring of certain non-core businesses and the associated costs including write-offs of impaired assets, as well as the early termination of leases and severance costs.

Full-year 2011 net earnings were $113.4 million and full-year 2010 net earnings were $385.4 million. Full-year 2011 adjusted net earnings* were $133.5 million, which excludes debt refinancing costs, net of tax, of $11.6 million and the charges described above, net of tax, of $8.5 million. Full-year 2010 adjusted net earnings* were $98.7 million, which excludes debt refinancing costs of $14.7 million, net of tax, and litigation settlement proceeds, net of tax and related payments, of $301.4 million. Full-year 2011 adjusted net earnings* increased 35.3% from full-year 2010. Full-year 2011 diluted EPS was $2.33 and full-year 2010 diluted EPS was $7.42. Full-year 2011 adjusted diluted EPS*, which excludes a $0.41 effect from debt refinancing costs and the charges described above, was $2.74. Full-year 2010 adjusted diluted EPS*, which excludes a net effect of $5.52 from debt refinancing costs and litigation settlement proceeds, net of tax and related payments, was $1.90. Full-year 2011 adjusted diluted EPS increased 44.2% from full-year 2010.

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02.17.2012

MediaCard – for brilliant print results

Stora Enso broadens its Graphical Board offering with MediaCard, a single layer (SL) board with a double silk coated surface. MediaCard can be used for various graphical and packaging applications which demand a remarkably high visual appearance.

“With the launch of MediaCard Stora Enso completes its Graphical Board offering for brandowners, designers, converters and printers. The high-white, bright and smooth surface of MediaCard supports excellent print results and is suitable for a wide range of graphical end uses and packaging such as covers, folders, cards, tags, tickets, posters, game cards and shopping bags”, says Jonas Pettersson, Sales Director for Stora Enso Graphical Boards Business Segment.

MediaCard is produced at Stora Enso’s Uetersen mill in Germany with a double silk coated surface on either one or two sides: MediaCard C1S is one-side double coated and offered in basis weights of 120 to 300 g/m². MediaCard C2S is two-side double coated and in 250 and 300 g/m² available.

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02.17.2012

Nordstrom Reports Fourth Quarter and Fiscal Year 2011 Earnings

Nordstrom, Inc. today reported net earnings of $236 million, or $1.11 per diluted share, for the fourth quarter ended January 28, 2012. This represented an increase of 1.7 percent compared with net earnings of $232 million, or $1.04 per diluted share, for the same quarter last year.

Fourth quarter same-store sales increased 7.1 percent compared with the same period in fiscal 2010. Net sales in the fourth quarter were $3.17 billion, an increase of 12.5 percent compared with net sales of $2.82 billion during the same period in fiscal 2010. Additionally, total net sales of $10.50 billion for fiscal 2011 were the highest in the company’s history and represented two consecutive years of approximately 13 percent annual growth.

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02.17.2012

MOD-PAC CORP. Reports 43% Increase in Net Income on 15% Revenue Growth in 2011

MOD-PAC CORP., a manufacturer of custom and stock paperboard packaging and provider of personalized print products, today announced financial results for its fourth quarter and year ended December 31, 2011.

In the fourth quarter of 2011, revenue increased $1.8 million, or 13.7%, to $14.6 million from $12.8 million in the fourth quarter of 2010. Each of the Company’s product lines contributed to the revenue growth. Net income was $0.4 million, or $0.12 per diluted share, compared with $0.2 million, or $0.07 per diluted share, in the fourth quarter of 2010. The higher net income reflects positive leverage from higher sales, offset by negative product mix and continued raw material pricing pressures. The prior year fourth quarter includes a $178 thousand, or $0.05 per diluted share, charge for impaired asset write-downs.

Total revenue for 2011 was $56.2 million compared with $48.7 million in 2010, reflecting higher folding carton sales and improved waste sales due to a recovery in the recycling market. Net income increased 43.3% to $1.9 million, or $0.55 per diluted share, in 2011 from $1.3 million, or $0.37 per diluted share, in 2010. Higher revenue along with productivity and cost reduction initiatives drove the net income increase.

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02.16.2012

KapStone Reports Record Fourth Quarter Results

KapStone Paper and Packaging Corporation today reported preliminary record results for the fourth quarter and year ended December 31, 2011.

For the fourth quarter ended December 31, 2011: Record net sales of $269 million, up 35% versus 2010; Net income of $74.2 million, up 463% versus prior year; Adjusted net income of $13.5 million, up $2.4 million, or 21% versus prior year.

For the year ended December 31, 2011: Record net sales of $906 million, up $123 million versus 2010, or 16%; Net income of $124 million, up $59 million versus prior year; Adjusted net income of $67 million, up $38 million versus prior year.

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02.16.2012

Arctic Paper announces a general price increase of 5-6% for uncoated and coated fine papers

During 2011 Arctic Paper has taken several measures to further reduce costs and increase efficiency. However, current manufacturing cost levels and cost increases for transportation and raw material make a paper price increase unavoidable.

Arctic Paper wishes to announce to its customers a price increase on all UWF and CWF paper grades, both in sheets and reels. The price increase will range from 5-6% and will differ from the current price levels per country and paper grade.

The price increase will be implemented for all markets and deliveries from 15 March 2012 will be affected.

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02.16.2012

Oil Declines From Five-Week High In New York After Greek Bailout Delayed

Oil fell from a five-week high in New York as European leaders pushed back a bailout for Greece, heightening concern that the region’s debt crisis will damage economic growth and curtail fuel consumption.

Europe’s creditor countries struggled to reach an agreement over a rescue of Greece, seeking more control over how future aid is spent as the country faces the threat of default over a bond payment due on March 20. Iran stopped crude exports to France and the Netherlands and threatened to end shipments to four other European countries, state-run Mehr reported yesterday, citing an unidentified official at the National Iranian Oil Co.

“Yet another postponement of the Greek deal is creating some risk-off” said Thorbjorn Bak Jensen, an analyst at Global Risk Management in Middelfart, Denmark. “Yesterday’s news from Iran was bullish, but not bullish enough to justify a rally. It is still rumors and speculation.”

Oil for March delivery fell as much as 78 cents, or 0.8 percent, to $101.02 and was at $101.27 a barrel in electronic trading on the New York Mercantile Exchange at 10:53 a.m. London time. The contract yesterday rose $1.06 to $101.80, the highest close since Jan. 10.

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02.16.2012

Active Interest Media Buys Marine Group Assets from Source Interlink

Active Interest Media, the enthusiast publisher with titles and events in the healthy living, home buying, marine and outdoor markets, has taken over the marine group from Source Interlink Media in an asset deal.

The brands included in the transaction are Power & Motoryacht and Sail. Terms were not released, but AIM is effectively taking over the publishing of the brands in an asset deal, with a performance-based buyout down the road—a deal similar to one AIM's outdoor group did with Skram Media in June, 2010. AIM COO Andy Clurman declined to offer more details on the terms of the deal, only noting it was an asset sale, not a stock-based transaction.

Power & Motoryacht is a monthly with a circulation of almost 150,000. According to Source Interlink, its website gets about 150,000 monthly uniques. Sail, also monthly, claims a rate base of 100,000.

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02.16.2012

Mercer International Inc. Reports Record Annual Pulp Production and Energy Sales and 2011 Q4 and Year End Results

Mercer International Inc. today reported results for the fourth quarter and for the year ended December 31, 2011. Operating EBITDA in the fourth quarter of 2011 was €17.0 million ($22.9 million), compared to €64.6 million ($87.8 million) in the last quarter of 2010 and €49.2 million ($69.5 million) in the third quarter of 2011.

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02.16.2012

Mondi Group makes an offer to acquire the minority interest in Mondi Swiecie S.A.

As part of the dual listed company structure, Mondi Limited and Mondi plc notify both the JSE Limited (“JSE”) and the London Stock Exchange of matters required to be disclosed under the JSE Listings Requirements and/or the Disclosure Rules and Transparency Rules and/or the Listing Rules of the United Kingdom Listing Authority.

Mondi Group has made an all cash public tender offer of PLN69.00 (EUR16.48) per share (“Offer”) for 17 million shares representing 34% of the share capital of Mondi Swiecie S.A. (“Mondi Swiecie”) that it does not already own. Mondi Swiecie is listed on the Warsaw Stock Exchange. The Offer represents a premium of 15.6% over the last three months average price of PLN59.71 (EUR14.26) and a premium of 4.1% over the last six months average price of PLN66.26 (EUR15.82).

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02.16.2012

Publishers Score Win in International Piracy Battle

An international alliance of publishers and publishing associations has succeeded in getting a Munich court to serve cease and desist orders to the operators of two Web sites that have been illegally offering more than 400,000 copyrighted books for free. The operators, currently based in Galway, Ireland, are estimated to have earned over $10 million annually from advertising sales, donations and premium subscriptions.

According to the Association of American Publishers, the investigation took over seven months to complete and spanned seven countries. A total of 17 publishing companies filed requests for injunctions involving 170 titles. The Landgericht, a regional Munich court hearing the case, issued its order in December, but was only able to serve the injunctions on the operators of the Web site www.library.nu and www.ifile.it on Tuesday.

AAP president Tom Allen said the case is "a clear example of the complexities in dealing with international Web sites." Not only was it difficult to find the identities of the operators of the sites, but the top level domain names led as far as Italy and the Pacific island of Niue. Servers were also moved from Germany to the Ukraine. The legal action was coordinated by the Börsenverein des Deutschen Buchhandels, the International Publishers Association and the law firm Lausen Rechtsanwälte. “It’s very difficult to find solutions to piracy when [pirates] hide their identities and jurisdiction is in question,” said Maria Danzilo, legal director at Wiley Global Education (a division of John Wiley, which is one of seven AAP members who participated in the action).

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02.16.2012

TC Media acquires assets of Courrier Frontenac

TC Media is proud to announce that it has acquired the print and Internet publishing assets of Courrier Frontenac. With acirculation of over 22,000 copies, this weekly paper serves Thetford Mines and the surrounding area. The acquisition includes the portal www.courrierfrontenac.qc.ca, which reaches more than 25,000 unique visitors on a monthly basis, generating over 55,000 visits a month. In addition, the door-to-door distribution activities of Courrier Frontenac, which already had a partnership with TC Media to distribute Publisac to more than 22,000 households in the region, will now be entirely owned and managed by TC Media. With this acquisition, TC Media adds its first weekly paper to its existing offering in the Chaudière-Appalaches region.

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02.16.2012

Vertis Communications Launches National Comic Sales Support Program

Vertis Communications, a results-driven marketing communications company, today unveiled its new turnkey National Comic Sales Support Program. Designed to make newspaper insert advertising available to more marketers, the new program will drive increased store traffic through premium placement in the highly visible comics section of the Sunday paper.

Now advertisers can capture greater attention and improve sales by adding a wrap, gatefold or slip sheet into the Sunday comics section of more than 70 newspapers in key markets across the country. From negotiating rates and managing placement to printing and delivery, Vertis’ new program will benefit newspaper advertisers wanting to increase their ROI.

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02.15.2012

Another key day for troubled St. Marys Paper

On February 14, 2012, Ernst and Young Inc., the court-appointed receiver for St. Marys Paper Corporation will make a decision on the future of the mill.

“In recent years our government has twice stepped up to support the restructuring efforts at St. Marys Paper because we are committed to protecting local jobs” said Orazietti. “Tomorrow the receiver will recommend to the court a preferred offer and begin negotiations. It is my expectation that the parties involved will consider, most importantly, the impact on workers and their families and the economic impact on the community in selecting a potential operator.”

The provincial government has made significant commitments to support St. Marys Paper Corporation.

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02.15.2012

Legal Matters : Proposed Marketplace Fairness Act Threatens Direct Marketers

On Nov. 9, 2011, a group of 10 senators from both sides of the aisle introduced the Marketplace Fairness Act, S.1832. On Oct. 13, 2011, a similar bipartisan bill was introduced in the House of Representatives called the Marketplace Equity Act.

For more than a quarter century, states have tried to convince Congress to enact legislation that would strip direct marketers of their constitutional protection from having to collect state sales taxes when delivering products to consumers in states where they have no physical presence such as retail stores, warehouses or salesmen. In landmark decisions in 1967 and again in 1992, the Supreme Court ruled that absent such an in-state physical presence — the Court referred to it as “nexus” — it would be unfair to require out-of-state retailers to collect taxes for state and local governments that provide no services to those companies in return.

The justices were especially concerned with the burdens involved in collecting taxes on behalf of thousands of sales tax jurisdictions with varying rates and requirements. However, the Supreme Court concluded in its famous 1992 Quill vs. North Dakota decision that if Congress chose to do so, it could grant the states new and expanded taxation authority over remote sellers. Since that ruling numerous bills have been introduced that would impose tax collection obligations on catalog companies and electronic merchants. None have passed, however, primarily because the proposals failed to include sufficient simplification and uniformity measures to address the disparate and confusing features of state and local sales taxes.

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02.15.2012

Oil Rises From Two-Day Low as China Pledge on Europe Counters U.S. Demand

Oil rose after China pledged to help resolve Europe’s debt crisis, easing concern that economic growth will slow and curb fuel demand. Brent crude may advance to $120 a barrel, according to Goldman Sachs Group Inc.

Crude futures in New York increased as much as 1.1 percent. China will invest in Europe’s bailout funds, the nation’s Central Bank Governor Zhou Xiaochuan said in Beijing. European Union finance ministers will today prod Greece to deliver budget cuts in exchange for a second aid package. Israeli Prime Minister Benjamin Netanyahu blamed Iran on Feb. 13 for car bombings of Israeli diplomatic vehicles in New Delhi and the Georgian capital of Tbilisi.

“We have seen some signs of stability in the debt crisis,” said Sintje Boie, an analyst at HSH Nordbank in Hamburg, who predicts Brent crude will surpass $120 a barrel in coming weeks. “The market is all about fears of supply disruption, as we have these tensions in the Middle East and especially the conflict with Iran.”

Oil for March delivery rose as much as $1.09 to $101.83 a barrel in electronic trading on the New York Mercantile Exchange and was at $101.53 at 11:27 a.m. London time. It fell 17 cents to $100.74 yesterday, the lowest close since Feb. 10.

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02.15.2012

Price increase for Koehler Thermal Papers

Papierfabrik August Koehler AG announces a price increase for thermal paper by 5% effective April 1, 2012 due to continued strong demand and high input costs. The price increase will apply to customers globally.

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02.15.2012

Increased environmental certifications for the PaperWorks Packaging Group

As part of its ongoing commitment to the environment and customers that value ecological packaging, PaperWorks today announced increased environmental certifications for its Packaging Group. The company now offers FSC and SFI certification at all its packaging locations, FSC paperboard at its Paperboard Group mills, and FSC, SFI and PEFC products at its Paperboard Group converting sites.

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02.15.2012

Abercrombie & Fitch Reports Fourth Quarter and Fiscal Year 2011 Results

Abercrombie & Fitch Co. today reported unaudited results which reflected net income of $19.6 million and net income per diluted share of $0.22 for the thirteen weeks ended January 28, 2012, compared to net income of $92.6 million and net income per diluted share of $1.03 for the thirteen weeks ended January 29, 2011.

The Company also reported net income of $127.7 million and net income per diluted share of $1.43 for the fifty-two weeks ended January 28, 2012, compared to net income of $150.3 million and net income per diluted share of $1.67 for the fifty-two weeks ended January 29, 2011.

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02.15.2012

Ahlstrom achieves Registered Latex Developer certification from HP

Ahlstrom Corporation, a global high-performance materials company, has taken part in the HP Registered Latex Development Program and a wide number of Ahlstrom's poster papers and wallcover substrates have met the HP compatibility standard. After successful completion of the certification tests on different large-format HP Latex printers, Ahlstrom has been granted the certification of HP Registered Latex Developer.

Ahlstrom ChantafficheTM poster papers are used for outdoor and indoor advertising applications, including billboard and modern street furniture, such as citylight, megalight or scrolling units. Ahlstrom EasylifeTM wallcover media is used for direct printing of facing materials for wall decoration.

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02.15.2012

NewPage Seeks to Amend Its Amended and Restated Superpriority Debtor-In-Possession Credit and Guaranty Agreement

NewPage Corporation announced today that it is seeking to amend its Amended and Restated Superpriority Debtor-In-Possession Credit and Guaranty Agreement dated as of September 23, 2011 (the "DIP Credit Agreement"; capitalized terms referenced below are defined in the DIP Credit Agreement). Among other things, NewPage is seeking to reduce the Minimum Consolidated Adjusted EBITDA covenant and in conjunction would increase the Notes Payment Reserve. In addition, NewPage intends to obtain the flexibility for cash collateralized letters of credit to mature beyond the term of the DIP Credit Facility.

Obtaining these amendments requires consent of a certain portion of the Lenders and some of the amendments may require the approval of the United States Bankruptcy Court for the District of Delaware. There are no assurances that NewPage will be successful in its negotiations with the Lenders or in obtaining court approval.

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02.14.2012

Resolute Applies to Cease Trade Mercer's Offer to Acquire Fibrek

AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that it applied to the Bureau de décision et de révision (Québec), the administrative tribunal with statutory jurisdiction in securities law and regulatory matters in Quebec, for an order to cease trade the proposed offer by Mercer International Inc. to acquire all of the issued and outstanding common shares of Fibrek Inc. Fibrek and Mercer announced the offer on February 10.

In its application, Resolute requested that the Bureau exercise its public interest jurisdiction to cease trade the offer on the basis, among other things, that it includes an improperly discounted and dilutive private placement of warrants and an unreasonable break fee. Resolute requested that the Bureau hear its application on an expedited basis, and will argue that these measures are unlawful and inappropriate defensive measures to Resolute's offer. On February 9, the Bureau rendered an order to cease trade Fibrek's tactical poison pill effective as of 3:00 p.m. today.

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02.14.2012

Crude Oil Rises to Three-week High as Iran Threat Counters European Debt

Oil rose to its highest in more than three weeks in New York, reversing earlier declines as concern that tensions with Iran may hinder Middle East exports outweighed debt downgrades for six European nations.

Futures rose as much as 0.7 percent, having dropped as much as 0.5 percent after Moody’s Investors Service cut the credit ratings of nations including Italy and Spain and attached a “negative” outlook to the U.K. and France. A U.S. Energy Department report tomorrow may show crude stockpiles climbed a fourth week, according to a Bloomberg News survey. Iran may respond to sanctions with “low-level provocation” such as slowing shipping through the Strait of Hormuz, supporting oil prices, Standard & Poor’s said.

“We’re a little concerned about the supply side this year,” said Andrey Kryuchenkov, an analyst at VTB Capital in London. “Situations in Iran, Syria and Sudan are keeping supply jitters on the radar. Today is likely to be a quiet session, with the euro-zone debt crisis remaining the focus of attention.”

Oil for March delivery on the New York Mercantile Exchange rose as much as 74 cents to $101.65 a barrel, the highest since Jan. 19, and was at $101.57 at 10:40 a.m. London time. Prices are 20 percent higher than a year ago.

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02.14.2012

Bloomsbury Publishing Plc setting up new business in India

Bloomsbury Publishing today announces that it is setting up a new business in India.

Among the fastest growing economies in the world, and with a rapidly increasing population where 50 million buy English books every year, India is an excellent market for the expanding and diverse product range of Bloomsbury. It is also steadily becoming an important source of authorship and will be a significant future ebooks market.

Bloomsbury has already been operating in India for 25 years with a long standing marketing and distribution partnership with Penguin. The Group now plans to grow its presence in India by setting up a wholly owned business. This is in line with the Group's strategy to globalise and further diversify, and follows the success of the recent licensing deal for the Wisden brand in India. Bloomsbury will focus in India on exploiting the exciting growth opportunities the country offers, leveraging the strength of the Group's large range, and also developing Indian authorship and publishing programmes. The timing is good with the Indian retail chain footprint increasing rapidly, growth of on-line retailers and the country's significant future ebook readership.

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02.14.2012

Crown Continues Expansion Into China

To respond to growing demand for beverage cans in China, Crown Holdings, Inc. today announced plans to build a new two-piece beverage can plant in Nanning, the capital of Guangxi Province in Southern China. With a population of 6.6 million, this prefectural city is strategically located, bordering Guangdong to the East and Yunnan to the West.

The new plant is expected to be operational by the end of Q2 2013 and have an initial annual production capacity of 750 million two-piece 33cl aluminum beverage cans. The plant will also have the ability to produce 50cl beverage cans.

Crown currently has five beverage can plants operating in China. The company expects to begin production in Putian (Fujian Province), Ziyang (Sichuan Province) and Heshan (Guangdong Province) in 2012. By mid-2013, plants in Changchun (Jilin Province), XinXiang (Henan Province) and Nanning will begin production, giving Crown eleven plants across China.

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02.14.2012

Crown to Increase Beverage Can Capacity in Malaysia

Crown Holdings, Inc., a leading supplier of metal packaging products worldwide, announced today that it will install a second two-piece beverage can line in its existing facility in Bangi, Malaysia.

The new line is expected to be operational in the first quarter of 2013 and have an initial annual production capacity of approximately 650 million two-piece 33cl beverage cans. It will also be able to produce smaller diameter cans. The addition will bring the total capacity of the plant to more than 1.2 billion cans.

The Bangi facility is one of seven two-piece beverage can plants Crown operates in South East Asia. The company currently has one plant each in Cambodia, Malaysia, Singapore and Thailand as well three plants in Vietnam (one in Hanoi and two in Ho Chi Minh City).

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02.14.2012

Weitzner Lays Out His Plan for Summit Business Media

Steve Weitzner, the former CEO of Ziff Davis Enterprise, which was sold to QuinStreet just over a week ago, has been named CEO of Summit Business Media. His new job officially starts today.

Weitzner is filling in the space vacated by Andy Goodenough, who left in October, 2011. CFO Thomas Flynn had been acting as interim CEO during the search for new leadership and now moves back into his original role.

The company had gone through a chapter 11 reorganization in early 2011, emerging from that in May. Through all of that, the company shed $140 million in debt and gained new board members, including Charles McCurdy, David Nussbaum, Jason Young and Jean Clifton.

Weitzner says the reorganization is largely complete and the company, which primarily serves the financial services and insurance markets, is now "highly profitable" with revenues ballparked in excess of $70 million.

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02.14.2012

TC Media acquires Les Éditions Caractère, leader in the supplemental educational publishing market in Québec

TC Media is proud to announce that it has acquired the shares of Les Éditions Caractère, the leader in the supplemental educational publishing market in Québec and publisher of bestsellers in the trade market. Les ÉditionsCaractère now joins Chenelière Éducation, the leading publisher of French-language educational resources in America, and Les Éditions Transcontinental, renowned in the market for their general interest titles and essays for a broad public. This transaction makes TC Media the top player in Quebec’s supplemental educational publishing market, accelerating its growth in this strategic niche that was already in development within the company. TC Media thus adds to its educational publishing offering and enhances its presence in the field of trade publishing.

In addition to Les Éditions Caractère’s supplemental collections, which include bestsellers such as Toute mon année, Les Incollables, Réussir son examen d’admission au secondaire and Plus de 30 tests pour réussir, the publishing house has a significant catalogue of general interest books. This catalogue is an excellent complement to the titles published by Les Éditions Transcontinental and is included in the acquisition.

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02.14.2012

Western Positioning for the Future with First Step in Capital Plan

Western Forest Products Inc. announced today the first project in our capital plan; a $16 million investment in the Saltair Sawmill. Western was joined by Steve Thomson, Minister of Forests, Lands, and Natural Resource Operations, for the formal site announcement.

The Saltair Sawmill, built in 1972, converts coastal mid-size logs into high value specialized lumber products in Hemlock, Douglas fir and Western Red Cedar. This capital project will make Saltair the largest single line sawmill on the coast of BC and will provide upgrades to the edgers, stacker and sorters. The upgrades will increase production by approximately 15%, lowering the per unit cost of production, and improving competitiveness with global producers. Increased efficiencies with the upgrade will reduce mill bottlenecks, not only a benefit to productivity, but also to the safety of the work environment.

Western’s ability to provide a variety of products to a diverse customer base will ensure we are able to operate through varying market conditions. Upgraded edgers will facilitate onsite production of prime sizes for the ever growing Asian market; a critical part of our customer profile which also includes Europe, Australia, and North America. Once the project is complete, a more competitive mill, that can absorb market fluctuations, will provide more stable and secure employment for the 140 existing mill jobs.

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02.14.2012

Cenveo Completes Sale of Forms and Business Documents Group to Ennis, Inc.

Cenveo, Inc. today announced that it has completed the previously announced sale of its Forms and Business Documents Group to Ennis, Inc., manufacturer of printed business products & apparel headquartered in Midlothian, Texas. For 2011 and prior periods, the company will be reporting the Documents Group as a discontinued operation in the consolidated financial statements.

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02.14.2012

International Paper Completes Acquisition of Temple-Inland

International Paper Company today announced that it has completed its acquisition of Temple-Inland Inc. through the merger of its wholly owned subsidiary Metal Acquisition Inc. with and into Temple-Inland. Temple-Inland is now a wholly owned subsidiary of International Paper. Under the terms of the transaction, each issued and outstanding share of Temple-Inland common stock has been converted into the right to receive $32.00 in cash, without interest thereon, and less any applicable withholding taxes. Including the assumption of approximately $700 million in Temple-Inland net debt, the total transaction value is approximately $4.5 billion.

As a result of the acquisition, Temple-Inland's common stock will cease trading on the New York Stock Exchange today. International Paper Chairman and CEO John Faraci said, "We are very pleased to have completed this compelling transaction. The combination of International Paper and Temple-Inland strengthens our North American packaging business and enhances our ability to generate cash flow while maintaining our strong balance sheet. We look forward to working with the employees of Temple-Inland as we successfully integrate our businesses and create an even stronger company with substantial benefits for our customers, employees and shareholders."

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02.13.2012

Grainger Reports January 2012 Sales Results

Grainger today reported sales results for the month of January 2012. Sales increased 17 percent versus January 2011. Results for the month included a 5 percentage point contribution from acquisitions. Excluding acquisitions, organic sales increased 12 percent, including 12 percentage points from volume and 2 percentage points from price, partially offset by a 1 percentage point decline from both foreign exchange and lower sales of seasonal products. January 2012 had 21 selling days, the same as January 2011. The 2012 first quarter will have the same number of selling days as the 2011 first quarter (64 days).

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02.13.2012

Resolute Extends Offer for Fibrek to February 23

AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that it has extended to February 23 the expiry date for its offer to acquire all the issued and outstanding common shares of Fibrek Inc. The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the Canadian Securities Administrators' website ("SEDAR"), as varied and extended. The offer will expire at 5:00 p.m. (Eastern Standard Time) on February 23, 2012, unless it is extended or withdrawn by Resolute. Resolute continues to work diligently with a view to obtaining all required approvals from the Canadian regulatory authorities. As of the close of business on February 10, approximately 66 million common shares of Fibrek had been deposited to the offer, representing approximately 52% of the outstanding common shares. Resolute and its board will evaluate all available options concerning the competing offer announced by Fibrek on February 10.

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02.13.2012

Mercer International Inc. Announces Agreement to Acquire Fibrek Inc.

Mercer International Inc. announced today that it has entered into a support agreement (the "Support Agreement") with Fibrek Inc. ("Fibrek") for Mercer to acquire all of the issued and outstanding common shares of Fibrek (the "Fibrek Shares") by way of a take-over bid (the "Offer").

Pursuant to the Offer, Fibrek shareholders will have the ability, on an individual basis, to elect to receive: C$1.30 in cash per Fibrek Share; 0.1540 of a share of Mercer's common stock (a "Mercer Share") per Fibrek Share; or C$0.54 in cash plus 0.0903 of a Mercer Share per Fibrek Share, subject to proration necessary to effect maximum aggregate cash consideration of C$70.0 million and maximum aggregate share consideration of 11,741,496 Mercer Shares.

The Offer provides for consideration of C$1.30 per Fibrek Share or total consideration of approximately C$170 million for the Fibrek Shares, representing a premium of 30% over the unsolicited insider bid made by AbitibiBowater Inc. (the "Abitibi Bid"), 81% over the closing price of the Fibrek Shares on November 28, 2011, the date of announcement of the Abitibi Bid, and 70% over the volumeweighted average trading price of the Fibrek Shares on the Toronto Stock Exchange for the 20 trading days ending on such date.

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02.13.2012

International Paper, Temple-Inland Announce Settlement Agreement With Department of Justice

International Paper Company and Temple-Inland Inc. today announced that they have reached an agreement with the Antitrust Division of the U.S. Department of Justice ("DOJ") with respect to International Paper's acquisition of Temple-Inland. As part of the agreement, the DOJ has entered into a consent decree with International Paper and Temple-Inland that allows the combination to proceed. The companies expect to complete the transaction promptly.

Under the terms of the consent decree filed in federal court in the District of Columbia, the combined company will undertake the post close divesture of 970,000 tons of containerboard mill capacity within four months, with the possibility of two 30-day extensions. The company agreed to divest Temple-Inland's facilities in Ontario, California and New Johnsonville, Tennessee, and International Paper's facility in Hueneme, California. International Paper reaffirms that it expects to achieve at least $300 million of synergies within twenty-four months of closing.

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02.13.2012

RR Donnelley Awarded a Multi-Year Multi-Million Dollar Agreement by Office Depot, Inc.

R. R. Donnelley & Sons Company today announced that it has been awarded a multi-year multi-million dollar agreement by Office Depot, Inc., a global supplier of office products and services. Under the terms of the agreement, which renews and expands the companies' relationship, RR Donnelley will provide a range of production and related services for catalogs and direct mail.

"All of us at RR Donnelley are very proud to have earned the opportunity to expand our relationship with Office Depot," stated John Paloian, RR Donnelley's Chief Operating Officer. "We believe that one reason we develop and maintain long-lasting relationships with customers like Office Depot is the effective multi-channel direct marketing platform we have built. It offers consistently excellent quality, innovation and responsive service."

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02.13.2012

Oil Rises as Greece Passes Austerity Measures, Iran Supply Threat Grows

Oil rebounded from a three-day low in New York after Greece’s parliament approved austerity measures to obtain an international bailout, while concern grew that a ban on Iranian oil may constrict supplies.

Futures climbed as much as 1.3 percent as the euro headed toward a two-month high after 199 lawmakers supported the bill in a roll-call vote shown live on state-run Vouli TV, against 74 who opposed it. The measures were needed for a 130 billion-euro ($172 billion) aid package, Greece’s second since May 2010. Oil may extend gains after companies controlling more than 100 supertankers said they would stop loading cargoes from Iran, tightening sanctions on OPEC’s second-biggest producer.

“The stronger euro is contributing to today’s price increase,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London who predicts prices may rise further. “But I don’t think a bailout will lead to a miraculous recovery in Greece. Iran is what’s really pushing crude up. If Iranian exports are choked off because of the insurance issue we will see higher prices.”

Crude for March delivery rose as much as $1.32 to $99.99 a barrel in electronic trading on the New York Mercantile Exchange.

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02.13.2012

Walgreens Makes Shopping Easier with Additional Online Savings and New Weekly Ad Circular

Walgreens advertising circular, a Sunday staple read by more than 50 million U.S. consumers each week, has re-launched with a robust digital offering that offers hundreds of additional items through Walgreens.com and its award-winning mobile applications, while the print version gets a new look and feel designed to improve the shopping experience.

A recent Nielsen study1 shows more than 70 percent of shoppers express a desire for basic digital delivery of advertising inserts in the future. As traffic to Walgreens.com continues to grow, online views of the circular alone have increased more than 50 percent year over year, while Walgreens has driven profitable sales.

“This is the most dramatic refresh we’ve made to the weekly ad in more than two decades, delivering added value for our growing numbers of online and mobile customers, as well as a better experience for those who look forward to seeing it in print,” said Joe Magnacca, Walgreens president of daily living products and solutions. “We’re giving people more convenient ways to shop and save, and this complements our multi-channel strategy by finding new and different ways to cater to today’s consumers.”

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02.10.2012

Resolute Announces that Fibrek's Shareholder Rights Plan has been Cease Traded

AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that the Bureau de décision et de révision (Québec) has ordered that all rights and securities issued or issuable under the shareholder rights plan of Fibrek Inc. be cease traded effective as of 3:00 p.m. (Eastern Standard Time) on February 13, 2012.

The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the Canadian Securities Administrators' website ("SEDAR"), as varied and extended. The offer will expire at 5:00 p.m. (Eastern Standard Time) on February 13, 2012, unless it is extended or withdrawn by Resolute. Resolute continues to work diligently with a view to obtaining all required approvals from the Canadian regulatory authorities.

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02.10.2012

Oil Falls From Three-Week High as Economic Concern Counters U.S. Outlook

Oil fell from the highest level in three weeks, paring a weekly advance, as concern that Europe’s debt crisis will worsen and global commodity demand is weakening countered signs of recovery in the U.S. economy.

West Texas Intermediate futures declined as much as 1.3 percent, snapping the longest run of gains since December. Greece won’t get financial aid until it implements an austerity plan, Luxembourg Prime Minister Jean-Claude Juncker said yesterday. The International Energy Agency reduced its 2012 global oil demand forecast for a sixth month, citing a “darkening” economic outlook, and China’s exports fell for the first time in more than two years. Initial U.S. jobless claims slid by 15,000 last week, the Labor Department said yesterday.

“The market’s losing ground on the Greek concern,” said Gerrit Zambo, a trader at Bayerische Landesbank in Munich. “The demand-supply situation for the rest of the year is not a critical point at this moment. It’s mainly the political and economic situation.”

Oil for March delivery fell as much as $1.33 to $98.51 a barrel in electronic trading on the New York Mercantile Exchange and was at $98.60 at 11:42 a.m. London time. The contract rose a third day yesterday, climbing 1.1 percent to $99.84 for the highest close since Jan. 19.

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02.10.2012

Hearst Corporation to Increase Equity Interest in Fitch Group to 50 Percent

Fimalac S.A., the French parent company of global ratings agency Fitch Group, today announced it will sell Hearst Corporation an additional 10 percent interest in Fitch, bringing Hearst's equity interest to 50 percent. The transaction is valued at $177 million. Hearst acquired its original interest in Fitch from Fimalac, a public company, in March 2006. The transaction is expected to close in the first quarter of this year after receipt of all necessary regulatory approvals.

“The acquisition of an additional 10 percent interest in Fitch demonstrates our confidence in the company and in its future growth,” said Frank A. Bennack, Jr., CEO of Hearst Corporation. “We look forward to becoming an equal partner with Fimalac in this important worldwide business.”

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