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

11.04.2011

UPM to Close the Myllykoski Paper Mill and Implement from Job to Job Programme

UPM will permanently cease production at the Myllykoski paper mill by the end of this year. UPM and its employees were unable to establish a way to meet the commercial requirements for continuation of operations at the Myllykoski mill during employee negotiations. In addition, the company is cutting down its overlapping operations in paper sales, the supply chain and its functions in Finland.

The personnel reductions will affect 371 people at the Myllykoski paper mill and 21 people at Myllykoski Corporation and Myllykoski Sales Nordic. Personnel reductions will start in January 2012.

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11.03.2011

Macy's, Inc. Same-Store Sales up 2.2% in October

Macy's, Inc. today reported total sales of $1.842 billion for the four weeks ended Oct. 29, 2011, an increase of 2.0 percent compared with total sales of $1.806 billion in the four weeks ended Oct. 30, 2010. On a same-store basis, Macy's, Inc. sales were up 2.2 percent in October.

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11.03.2011

CVS Caremark Reports Third Quarter Results

CVS Caremark Corporation, today announced revenues, operating profit, and net income for the three months ended September 30, 2011.

Net revenues for the three months ended September 30, 2011 increased $3.0 billion to $26.7 billion, up from $23.7 billion during the three months ended September 30, 2010.

Revenues in the Pharmacy Services segment increased 25.8% to $14.8 billion in the three months ended September 30, 2011.

Revenues in the Retail Pharmacy segment increased 3.8% to $14.7 billion in the three months ended September 30, 2011. Same store sales increased 2.3% over the prior year period. Pharmacy same store sales rose 2.4% and include a positive impact from Maintenance Choice(TM) of approximately 140 basis points on a net basis (i.e., a positive impact of approximately 170 basis points on a gross basis, net of approximately 30 basis points from the conversion of 30-day prescriptions at retail to 90-day prescriptions under the Maintenance Choice program). Pharmacy same store sales were negatively impacted by approximately 200 basis points due to recent generic introductions. Front store same store sales increased 2.0% in the three months ended September 30, 2011.

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11.03.2011

Limited Brands Reports October 2011 Sales and Increases Third Quarter Earnings Guidance

Limited Brands, Inc. reported a comparable store sales increase of 6 percent for the four weeks ended Oct. 29, 2011, compared to the four weeks ended Oct. 30, 2010. The company reported net sales of $652.4 million for the four weeks ended Oct. 29, 2011, compared to net sales of $617.3 million last year.

The company reported a comparable store sales increase of 9 percent for the third quarter ended Oct. 29, 2011, compared to the third quarter ended Oct. 30, 2010. The company reported net sales of $2.173 billion for the third quarter ended Oct. 29, 2011, compared to sales of $1.983 billion last year.

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11.03.2011

American Eagle Outfitters Reports Third Quarter Sales Increase of 11%

American Eagle Outfitters, Inc. today announced that total sales for the third quarter ended October 29, 2011 increased 11% to $832 million, compared to $752 million for the quarter ended October 30, 2010. Comparable store sales increased 5% for the quarter, compared to a 1% increase for the same period last year. Including AEO direct, comparable store sales increased 7% for the quarter.

Third quarter sales results reflected strength across brands, with AE posting a 5% comp increase and aerie comps rising 8%. AEO direct posted a 21% sales increase in the third quarter.

Total sales for the year-to-date period ended October 29, 2011 increased 3% to $2.12 billion, compared to $2.05 billion for the period ended October 30, 2010. Comparable store sales decreased 1% for the year-to-date period, compared to a 1% increase for the same period last year. Including AEO direct, comparable store sales increased 1% for the period.

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11.03.2011

Abercrombie & Fitch Reports Third Quarter Sales Results

Abercrombie & Fitch today reported net sales of $1.076 billion for the fiscal quarter ended October 29, 2011, a 21% increase from net sales of $885.8 million for the fiscal quarter ended October 30, 2010. U.S. sales, including direct-to-consumer sales, increased 14% to $820.2 million. International sales, including direct-to-consumer sales, increased 56% to $255.7 million. Total Company direct-to-consumer sales, including shipping and handling, increased 41% to $132.4 million.

Total comparable store sales for the quarter increased 7%. By brand, comparable store sales increased 4% for Abercrombie & Fitch, 6% for abercrombie kids, and 8% for Hollister Co.

Year-to-date, the Company reported net sales of $2.829 billion, a 22% increase from net sales of $2.319 billion last year. U.S. sales, including direct-to-consumer sales, increased 13% to $2.146 billion. International sales, including direct-to-consumer sales, increased 64% to $683.3 million. Total Company direct-to-consumer sales, including shipping and handling, increased 34% to $340.3 million.

Total comparable store sales for the year-to-date period increased 8%. By brand, comparable store sales increased 5% for Abercrombie & Fitch, 8% for abercrombie kids, and 10% for Hollister Co.

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11.03.2011

Saks Incorporated Announces October Comparable Store Sales

Retailer Saks Incorporated today announced that owned sales totaled $235.7 million for the four weeks ended October 29, 2011 compared to $233.9 million for the four weeks ended October 30, 2010, a 0.8% increase. Comparable store sales increased 1.8% for the month.

For October, the strongest categories at Saks Fifth Avenue stores included women's contemporary sportswear and WEAR NOW (bridge) apparel, men's clothing and contemporary apparel, men's shoes, and handbags. Saks Direct performed well during the month.

This October, the Company excluded cosmetics and fragrances from its four-day Friends & Family discount event; cosmetics and fragrances were offered at a ten percent discount during the October 2010 event. Management estimates that October 2011 comparable store sales would have increased by mid-single digits if cosmetics and fragrances had been included in the event.

For the third quarter ended October 29, 2011, owned sales totaled $678.6 million compared to $649.6 million for the prior year third quarter ended October 30, 2010, a 4.5% increase. Comparable store sales increased 5.8% for the third quarter.

On a year-to-date basis, for the nine months ended October 29, 2011, owned sales totaled $2,050.5 million compared to $1,889.8 million for the prior year nine months ended October 30, 2010, an 8.5% increase. Comparable store sales increased 10.3% for the nine months.

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11.03.2011

Pearson nine-month Interim Management Statement

Pearson, the world’s leading learning company, is today providing its regular nine-month interim management statement.

Pearson increased sales by 6% and operating profit by 13% in the first nine months of 2011. Our businesses once again produced strong competitive performances in generally weak market conditions, benefiting from premium content and services, digital innovation and presence in developing economies.

The fourth quarter is always a key selling season in education and consumer publishing. But with all of our businesses performing well, we are reaffirming our trading guidance for the full year in spite of the recent deterioration in the macroeconomic outlook.

In addition, we anticipate that our interest and tax charges on adjusted earnings will be lower than our previous guidance. As a result, we now expect to achieve adjusted earnings per share of approximately 83p for the full year (ahead of our previous guidance of approximately 80p). This guidance assumes that the current exchange rate of £1:$1.60 prevails in the fourth quarter.

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11.03.2011

Crude Oil Advances a Second Day as Europe Presses Greece on Rescue Deal

Oil rose for a second day in New York, reversing losses as European leaders pressured Greece into proceeding with a rescue package that may stem the region’s debt crisis.

West Texas Intermediate futures on the New York Mercantile Exchange rebounded after dropping as much as 1.8 percent. Led by Germany and France, Europe’s economic and political anchors, the euro’s guardians yesterday cut off financial aid for Greece until an early December vote determines whether it deserves a fresh batch of loans.

“Market sentiment about the success of the rescue package seems to change within hours,” said Carsten Fritsch, a Frankfurt-based analyst at Commerzbank AG, who forecasts Brent crude oil will average $100 a barrel this quarter. “We expect Europe to slip into recession, but it will be just a brief and shallow one.”

Crude for December delivery was up 39 cents at $92.90 in electronic trading on the New York Mercantile Exchange at 10:59 a.m. London time. It earlier fell as much as $1.64 to $90.87 a barrel.

Brent for December settlement traded 30 cents higher at $109.64 a barrel on the London-based ICE Futures Europe exchange. Brent’s premium to New York crude was $16.74 a barrel, compared with settlements of $16.83 yesterday and a record-high $27.88 on Oct. 14.

U.S. crude supplies increased 1.83 million barrels to 339.5 million in the week ended Oct. 28, the U.S. Energy Department said yesterday. That was more than the 1 million barrels forecast by analysts in a Bloomberg News survey.

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11.03.2011

DMA Applauds Introduction of 'The 21st Century Postal Service Act of 2011'

The Direct Marketing Association (DMA) applauds Senators Joe Lieberman (I-CT), Susan Collins (R-ME), Tom Carper (D-DE) and Scott Brown (R-MA) for introducing a bipartisan postal reform bill, “The 21st Century Postal Service Act of 2011” (Act) today.

The Postal Service (USPS) is in dire financial straits. It is imperative that the US Mail — a vital communications channel for the American public, the American economy, and DMA members — be placed on a solid financial footing and remain affordable to the American public and American businesses. The $1.1 trillion mailing industry and its over 8 million employees depend on it.

It is time for Congress to set aside differences and work on a bipartisan bill that can be signed by the President. Senators Lieberman, Collins, Carper, and Brown have taken a huge step in that direction.

This bipartisan bill tackles the difficult issues of USPS retiree health benefit prefunding, five-day delivery, door delivery, labor arbitration, and USPS down-sizing. We are pleased that the bill maintains nonprofit rate preferences and requires a study of underwater classes and products to determine how their costs are affected by USPS excess capacity.

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11.03.2011

Kraft Foods Reports Strong Q3 Results and Raises 2011 Guidance

Kraft Foods Inc. today reported third quarter results driven by strong organic revenue growth and operating income gains in each geographic region.

Net revenues for the third quarter were $13.2 billion, up 11.5 percent. Organic Net Revenues grew 8.4 percent, driven by strong growth in all geographies. Pricing contributed 7.0 percentage points of growth as the company continued to successfully implement pricing actions to recover higher input costs. Despite these pricing actions, volume/mix contributed 1.4 percentage points to growth.

Operating income was $1.7 billion, and operating income margin was 12.8 percent. Underlying Operating Income, which excludes acquisition-related(2) and Integration Program(3) costs, grew 12.2 percent to $1.8 billion. The increase in Underlying Operating Income was driven by effective management of input costs through pricing and productivity, favorable foreign currency and growth from volume/mix. These gains were partially offset by the negative impacts from the Starbucks CPG business(4) and the timing of SG&A expenses. While profit growth was strong, Underlying Operating Income(1) margin increased only 10 basis points due to the impact of the higher revenue base (from pricing) on the margin calculation.

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11.03.2011

Improved operations at Norske Skog

Norske Skog’s gross operating earnings were NOK 469 million in the third quarter. This is significantly better than in the second quarter. The improvement is due to lower costs, higher volumes and better prices.

Cash flow from operations also improved markedly, and net interest-bearing debt was reduced.

Operating earnings (IFRS) were minus NOK 1 883 million, compared to minus NOK 202 million for the second quarter of 2011 and minus NOK 326 million for the third quarter of 2011. The operating result was strongly affected by impairments of NOK 1 883 million. Of these, NOK 927 relate to Norske Skog Parenco in the Netherlands.

The result from financial items was minus NOK 253 million. In the second quarter financial items were minus NOK 70 million, and in the third quarter of 2010 there was a positive result of NOK 49 million.

The net loss was NOK 1 841 million, compared to a loss of NOK 280 million in the second quarter of 2011 and a loss of NOK 244 million in the third quarter of 2010.

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11.03.2011

Tredegar Reports Third-Quarter Results

Tredegar Corporation reported third-quarter net income from continuing operations of $12.7 million (40 cents per share) compared to $9.0 million (28 cents per share) in the third quarter of 2010. Results from continuing operations in the third quarter of 2011 include a net after-tax gain of $4.3 million (14 cents per share) for special items primarily related to the divestiture of our film products business in Italy and transaction expenses incurred on the acquisition of Terphane Holdings LLC ("Terphane"). Further details regarding these items are provided in the financial tables included with this press release.

Income from ongoing operations in the third quarter was $8.4 million (26 cents per share) versus $9.4 million (29 cents per share) in last year's third quarter. Third-quarter sales increased to $202.6 million from $197.5 million in the third quarter of 2010.

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11.03.2011

Sappi Fine Paper Europe confirms to customers the uninterrupted supply of Galerie Art

M-real Oyj, which produces the Galerie Art range of woodfree coated reels and sheets for Sappi Europe, has today announced that it will initiate a consultation process with the employees of its Äänekoski mill in accordance with Finnish labour law. Such consultation might result in the definitive closure of paper machine 2 (PM2). Sappi Europe has therefore established a contingency plan to ensure that it maintains an uninterrupted supply of products to its customers.

Sappi Europe and M-real Oyj have agreed that, in case of a cessation of production at Äänekoski mill, the supply of Galerie Art woodfree coated reels would be transferred to M-real’s Husum mill in Sweden. Sappi Europe would remain the exclusive seller of coated paper produced by M-real’s Husum mill.

With regard to the supply of Galerie Art woodfree coated sheets produced at Äänekoski Mill, this production would be transferred to other Sappi sites in Europe.

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11.03.2011

KapStone Reports Record Net Sales

KapStone Paper and Packaging Corporation today reported results for the third quarter ended September 30, 2011.

Roger W. Stone, Chairman and Chief Executive Officer, stated, "KapStone's strong production in the third quarter of 2011 enabled us to achieve record net sales of $216 million and generate $38 million of free cash flow. Our mills produced nearly 329,000 tons of paper, and we improved operating margins year-over-year with pricing and productivity improvements. We are implementing a $50 per ton price increase for our kraft paper grades which will be fully realized in early 2012. Our order backlog remains strong."

Third Quarter Operating Highlights: Net sales for the quarter ended September 30, 2011 were $215.8 million, an increase of 4.0 percent, when compared to third quarter of 2010 net sales of $207.5 million. The increase in net sales was attributable primarily to higher unit selling prices. Average revenue per ton increased to $639 in 2011 versus $614 during the third quarter of 2010 and accounted for $7.3 million of the improvement in sales. The higher average unit selling prices reflect full realization of price increases effective in 2010 and the first half of 2011. Sales revenues in the third quarter of 2011 benefited by $1.5 million from favorable exchange rates. Offsetting the increase in net sales was $0.5 million due to Hurricane Irene in August 2011.

Operating income of $30.1 million for the 2011 quarter exceeded prior year's results by $3.5 million. The primary reasons for the improved results were higher unit pricing and improved mix which contributed $7.9 million and productivity improvements of $1.7 million. The stronger Euro, up 10 percent on the third quarter average, improved operating income by $1.5 million. However, operating income was negatively impacted by $5.1 million of inflation on input costs, mainly for caustic soda, higher wages, and freight-in for wood and $1.2 million for higher maintenance work at our Charleston mill. In addition, KapStone incurred $1.1 million of expenses related to the USC acquisition.

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11.02.2011

Discover U.S. Spending MonitorSM Consumer Confidence Rebounds Slightly in October

Consumer confidence slightly rebounded in October as more consumers felt the economy and their personal finances were improving, while fewer felt the economy and their finances were getting worse according to the Discover U.S. Spending Monitor.

The Monitor, a 4-year-old daily poll tracking economic confidence and spending intentions of nearly 8,200 consumers throughout the month, recorded a 2-point rise to 79.0 percent. Fourteen percent of consumers felt economic conditions were getting better in October, a 2-point rise from September. Sixty-two percent felt economic conditions were getting worse, down 1 point from September.

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11.02.2011

MOD-PAC CORP. Grows Revenue 16% to $14.4 million in the Third Quarter

MOD-PAC CORP., a manufacturer of custom paper board packaging and provider of personalized print products, today reported its results for the three and nine months ended October 1, 2011.

In the third quarter of 2011, revenue increased by 16.0% to $14.4 million compared with revenue of $12.4 million in the third quarter of 2010.

Net income for the third quarter of 2011 was $0.6 million, or $0.18 per diluted share, compared with $1.0 million, or $0.28 per diluted share, in the third quarter of 2010. The change in net income was the result of both higher raw material costs that impacted the Company's gross margin and a lower effective tax rate in the 2010 third quarter due to the utilization of available net operating loss carry-forward for which a valuation allowance was previously recorded.

Sales of folding cartons were $11.2 million in the third quarter of 2011, up 21.1% from $9.3 million in the third quarter of 2010, mainly due to increased business from several large existing customers, business from two new customers, and increased waste sales due to improved market conditions, partially offset by decreased business with some existing customers.

Stock packaging sales were $2.3 million in the third quarter of 2011, up 2.7% from the third quarter of 2010, primarily due to improved market conditions.

Personalized print sales were $725,000 in the third quarter of 2011, down 4.2% from $757,000 in the third quarter of 2010, primarily due to continued weakness in this market.

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11.02.2011

RR Donnelley Reports Third-Quarter 2011 Results

R.R. Donnelley & Sons Company today reported third-quarter net earnings attributable to common shareholders of $158.0 million, or $0.83 per diluted share, on net sales of $2.7 billion compared to $53.3 million, or $0.25 per diluted share, on net sales of $2.5 billion in the third quarter of 2010. The third-quarter net earnings attributable to common shareholders included the recognition of previously unrecognized income tax benefits ($77.4 million, non-cash) as well as pre-tax charges for restructuring ($23.6 million) and impairment ($10.6 million, non-cash), a loss on debt extinguishment ($1.3 million), and acquisition-related expenses ($0.7 million) totaling $36.2 million, compared to pre-tax charges for restructuring ($20.2 million) and impairment ($28.5 million, non-cash) and acquisition-related expenses ($2.6 million) totaling $51.3 million in 2010.

Net sales in the quarter were $2.7 billion, up $195.2 million, or 7.8%, from the third quarter of 2010, including the impact of acquisitions. Pro forma for acquisitions, net sales grew by $40.7 million, or 1.5%, from the third quarter of 2010, driven by a $26.8 million (101 basis points) increase from favorable changes in foreign exchange rates, as well as volume growth in certain product offerings. Gross margin of 23.4% in the third quarter of 2011 compared to 23.7% in the third quarter of 2010 as pricing pressure was mostly offset by productivity improvements, a higher recovery on print-related by-products and lower variable compensation expense. SG&A expense as a percentage of net sales in the third quarter of 2011 increased to 11.1% from 10.5% in the third quarter of 2010 primarily due to the acquisition of Bowne and higher pension and other benefits-related expenses, partially offset by lower variable compensation expense. Operating earnings were negatively impacted by restructuring and impairment charges and acquisition expenses of $34.9 million in the third quarter of 2011 and $51.3 million in the third quarter of 2010, resulting in operating income of $156.8 million in 2011 and $148.7 million in 2010. Operating margin was 5.8% in 2011 and 6.0% in 2010.

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11.02.2011

M-real plans to restructure its coated paper business

M-real Corporation, part of Metsäliitto Group, plans to restructure its coated paper business to achieve an approximately EUR 20 million improvement in annual operating result.

Paper production at the Husum mill in Sweden is planned to be reorganized. The annual coated paper capacity on the mill will be increased from 285,000 tonnes to approximately 340,000 tonnes without material investments. The reel production of Äänekoski paper machine is planned to be transferred to Husum.

Äänekoski mill’s coated fine paper machine is planned to be closed and the sheeting capacity converted fully to folding boxboard sheeting. Statutory negotiations related to the possible closure of the paper production and the development of sheeting capacity covering the whole of Äänekoski paper and board mills’ personnel of approximately 370 people will be commenced on 9 November 2011. Amount of personnel at the Äänekoski mills is expected to reduce by 180 at the maximum.

Currently there is one machine at Äänekoski paper mill with an annual capacity of approximately 200,000 tonnes of coated fine paper. After the planned closure of paper production the paper and board sheeting operations at the site are planned to be combined. This would increase the folding boxboard sheeting capacity and improve M-real’s profitability.

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11.02.2011

M-real's operating result excluding non-recurring items for the January-September 2011 EUR 81 million

Result for January–September 2011
• Sales were EUR 1,961 million (Q1–Q3/2010: 1,940)
• Operating result excluding non-recurring items EUR 81 million (136). Operating result including non-recurring items EUR 1 million (150).
• Result before taxes excluding non-recurring items EUR 33 million (72). Result before taxes including non-recurring items EUR -51 million (70).
• Earnings per share from continuing operations excluding non-recurring items EUR 0.06 (0.16), and including non-recurring items EUR -0.20 (0.15)

Result for the third quarter of 2011
• Sales EUR 616 million (Q2/2011: 660)
• Operating result excluding non-recurring items EUR 6 million (32). Operating result including non-recurring items EUR -13 million (-32).
• Result before taxes excluding non-recurring items EUR -11 million (16). Result before taxes including non-recurring items EUR -29 million (-53).
• Earnings per share from continuing operations excluding non-recurring items EUR -0.05 (0.04), and including non-recurring items EUR -0.11 (-0.17)

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11.02.2011

Crude Gains on European Debt Crisis Talks as U.S. Fuel Stockpiles Decline

Oil rose in New York for the first time in four days on speculation European leaders will push Greece to accept their rescue plan, reducing the chances the region’s debt crisis will worsen and curb economic growth.

Futures rose as much as 1.1 percent, reversing a decline of 1.3 percent, as European leaders prepared to tell Greece there is no alternative to budget cuts in their bailout plan. Gasoline and distillate-fuel stockpiles in the U.S., the world’s biggest oil consumer, probably fell for a fifth week, according to a Bloomberg News survey before an Energy Department report today. Goldman Sachs Group Inc. recommended investors buy long-dated crude futures in New York and London.

“The inventories will be watched even more closely than normal,” said Tobias Merath, head of global commodity research at Credit Suisse AG in Zurich, who forecasts Brent crude will slip to $105 a barrel in three months. “We’re probably going to be in for a period of uncertainty, which isn’t a good harbinger for commodities trading.”

Oil for December delivery climbed as much as $1.01 to $93.20 a barrel in electronic trading on the New York Mercantile Exchange. It was at $92.47 at 11:02 a.m. London time. Yesterday, the contract slid 1.1 percent to $92.19. Prices are up 1.2 percent this year.

Brent for December settlement on the London-based ICE Futures Europe exchange increased as much as $1.40, or 1.3 percent, to $110.94 a barrel. The European benchmark contract was at $17.33 over New York futures, compared with $16.37 on Oct. 31, the premium’s smallest settlement since June 28.

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11.02.2011

EFI Receives Four IDEAlliance Digital Press Certifications

EFI™, a world leader in customer-focused digital printing innovation, today announced it has achieved four Digital Press Certifications from IDEAlliance for Fiery servers driving engines from Canon, Konica Minolta, Ricoh and Xerox. Fiery technology has been a leader in the industry for 20 years, with more than 1.7 million Fiery servers sold worldwide.

IDEAlliance Digital Press Certification is a certification program developed to certify that a specific combination of digital print engine, controller and paper meets stringent color reprographic standards. Fiery servers, combined with the engines from these partners, meet or exceed established industry tolerances for excellence in the areas of colorimetric accuracy, uniformity, repeatability, durability, and registration. Digital Press Certification is the only certification program for digital presses in the U.S.

"EFI is proud to be the first company to earn multiple Digital Press Certifications, leveraging our advanced Fiery color management technology and our close working relationships with the leading engine manufacturers," said Toby Weiss, senior vice president of EFI and general manager of the Fiery business group. "Fiery technology has always been focused on exceeding customer expectations for quality and reliability, so it's fitting that we have earned these stringent certifications."

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11.02.2011

Glatfelter Reports Third Quarter 2011 Results

Glatfelter today reported financial results for the third quarter ended September 30, 2011, with sales increasing 10 percent to a record $416.5 million, versus $379.1 million a year ago.

Adjusted earnings were $12.8 million, or $0.28 per diluted share, compared with $16.7 million, or $0.36 per diluted share, in the third quarter of 2010. On a GAAP basis, third-quarter 2011 net income was $13.0 million, or $0.28 per diluted share, versus $39.4 million or $0.85 per diluted share, in the same period of 2010. The 2010-third quarter GAAP-basis results benefited from cellulosic biofuel production credits totaling $23.1 million, or $0.50 per diluted share.

On a year-over-year basis, Specialty Papers’ net sales increased $8.1 million primarily due to a $4.6 million benefit from higher selling prices and a 2.2 percent increase in shipping volumes. Specialty Papers’ shipments continued its seven-year track record of outperforming the broader uncoated free sheet market, which was down 3.6 percent in the year-over-year comparison.

Composite Fibers’ net sales increased $21.1 million, or 20.4 percent reflecting a 5.5 percent increase in shipping volume led by single-serve coffee and tea products. In addition, higher average selling prices added $2.7 million and foreign currency translation contributed $7.7 million.

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11.02.2011

Metsäliitto Group Interim Report 1-9/2011

Result for January–September 2011
– Sales amounted to EUR 4,123 million (1––9/2010: EUR 3,986 million).
– Operating result excluding non-recurring items was EUR 311 million (405). Operating result including non-recurring items was EUR 229 million (415).
– Result before taxes and excluding non-recurring items was EUR 217 million (299). Including non-recurring items, the result before taxes was EUR 130 million (293).

Result for July–September 2011
– Sales amounted to EUR 1,317 million (7–9/2010: EUR 1,345 million).
– Operating result excluding non-recurring items was EUR 63 million (155). Operating result including non-recurring items was EUR 44 million (170).
– Result before taxes and excluding non-recurring items was EUR 35 million (114). Including non-recurring items, the result before taxes was EUR 17 million (128).

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11.02.2011

Consolidated Graphics Reports Financial Results for the Quarter Ended September 2011

Consolidated Graphics, Inc. today announced financial results for the quarter ended September 30, 2011.

Year-over-Year Quarterly Highlights: Revenue increased 3% to $267.4 million; Adjusted Operating Income was $15.2 million, or 6% of revenues; Adjusted Diluted Earnings Per Share were $.76.

Revenue for the September quarter increased $7.3 million, or 2.8%, to $267.4 million, compared to the prior year quarter. The year-over-year revenue increase was due to growth in same-store sales of 1.7% and acquisitions, partially offset by a decline in election-related business. Adjusted Operating Income for the September 2011 quarter was $15.2 million or 5.7% of revenue, compared to $17.0 million or 6.5% of revenue last year. Adjusted Net Income was $8.3 million, or $.76 per diluted share for the quarter, compared to Adjusted Net Income of $9.0 million or $.77 per diluted share for the prior year quarter.

Operating income was $13.9 million for the September 2011 quarter and included $.6 million in charges. Operating income during the September 2010 quarter was $15.4 million and included $.7 million in charges primarily related to lease termination expenses and certain asset impairments. Net income for the September 2011 quarter was $7.5 million or $.69 diluted earnings per share, compared to $8.1 million or $.69 diluted earnings per share last year.

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11.02.2011

Quad Setting Records for Co-Mail Volume and Postage Savings as Fall Mailing Season Peaks

As the mailing volume of catalogs and magazines nears its seasonal peak, Quad/Graphics, Inc. reports that it is now breaking company and industry records for co-mail pool sizes, aggregated volume and customer postage savings. Company co-mail analysts are projecting that annualized co-mail volume will top 4.9 billion pieces in 2011.

“Mailing and distribution represents more than half the cost of typical catalog and magazine programs, so our ability to save money for customers in this area is a critical value,” says Joel Quadracci, Quad/Graphics Chairman, President & CEO. “Given the potential for more changes in postage rates and services in the near future, that advantage will become even more important for our customers.”

Quad pioneered co-mailing almost 30 years ago. The process combines mailstreams from multiple customers into a single mailstream that creates mailing efficiencies through combined volume and drives postage savings. Quad/Graphics became the largest U.S. printer and co-mailer of catalogs and magazines in 2010 when it acquired Worldcolor, and is now maximizing the benefits of that combined volume for its customers.

Dave Riebe, Quad/Graphics’ President of Logistics & Distribution, says volume drives the ability to pre-sort and deliver mail to the deepest sortation facilities of the USPS platform to achieve the maximum postal discounts available. “We now have more volume, co-mail equipment and capacity than any of our competitors, but the key isn’t just size, it’s our unique co-mail optimization software that analyzes multiple cost components of the process – manufacturing, inline/offline co-mail, distribution and postage – to produce the maximum savings,” he said.

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11.02.2011

Time Warner Inc. Releases Third-Quarter 2011 Results

Time Warner Inc. today reported financial results for its third quarter ended September 30, 2011.

In the quarter, Revenues grew 11% from the same period in 2010 to $7.1 billion, reflecting higher revenues at the Filmed Entertainment and Networks segments. Adjusted Operating Income and Operating Income each grew 18% to $1.6 billion, due to increases at the Filmed Entertainment segment. Adjusted Operating Income and Operating Income margins were both 23% versus 21% in the 2010 quarter.

In the third quarter, the Company posted Adjusted Diluted Net Income per Common Share (“Adjusted EPS”) of $0.79 versus $0.62 for the year-ago quarter. Diluted Income per Common Share was $0.78 for the three months ended September 30, 2011, compared to $0.46 in the prior-year quarter.

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11.02.2011

Torstar Corporation Reports Third Quarter Reslults

Torstar Corporation today reported financial results for the third quarter ended September 30, 2011.

Highlights for the quarter:

• Revenue was $378.7 million in the quarter, up $25.0 million from the third quarter of 2010. Excluding accounting changes and the impact of foreign exchange, total revenue was up $22.9 million or 6.5% in the quarter.

• EBITDA (see “non-IFRS measures”) was $53.7 million in the quarter, down $1.4 million from $55.1 million in the third quarter of 2010. This decline included a $1.6 million decline from the impact of foreign exchange and $1.9 million of lower Media Segment results partially offset by $2.2 million of higher Harlequin results.

• Net income was $25.2 million ($0.32 per share) in the third quarter, up $10.7 million ($0.14 per share) from $14.5 million ($0.18 per share) last year.

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11.02.2011

Cascades Finalizes the Acquisition of Papersource

Cascades Inc., a leader in recovery and in green packaging and tissue paper products, announces that it has finalized the acquisition of 50% of the shares that it does not hold in its affiliated company Papersource Converting Mill Corp (Papersource), located in Granby. The amount of the transaction is approximately $60 million.

Papersource is a tissue paper converting plant that manufactures products for the away-from-home market. It employs more than 160 employees. The quality of the equipment in the plant will make it a model plant within the Tissue Group.

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11.02.2011

The New York Times Announces Robust Circulation Including Increase in Sunday Home Delivery

For the six-month period ending September 30, 2011, The New York Times saw strong overall circulation according to the just released Audit Bureau of Circulations (ABC) report. Total average circulation, which includes total print and total digital, was 1,150,589 for Monday-Friday and 1,645,152 for Sunday. The New York Times began offering paid digital subscription packages in the U.S. on March 28, 2011 and this ABC reporting period is the first that captures these new digital subscribers.

According to ABC, The New York Times's total print circulation for Monday-Friday was 770,586, and total Sunday print circulation was 1,273,219. The New York Times remains the most highly circulated Sunday newspaper in the United States. In addition, The Times saw Sunday print home delivery circulation of 992,383, an increase of 0.2% year-over-year. This marks the first increase in print home delivery circulation in five years.

For the six-month period ending September 30, 2011, total average digital circulation for Monday-Friday was 380,003 and for Sunday, it was 371,933. This category of circulation includes all new paid and verified digital subscription packages, as well as paid subscriptions to replica editions and e-readers including Amazon's Kindle and the Barnes & Noble NOOK.

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11.02.2011

West Linn Paper Company Approves Capital Improvement Projects for 2012

The West Linn Paper Company today announced that it will be investing over $3 million in major capital improvement projects that will get underway in the first half of 2012. The company has committed to several projects but the two most prominent will focus on increasing production and energy conservation.

One of the two projects will address moisture content and sheet strength on the mill’s #1 Paper Machine and is expected to improve the quality of the mill’s heavyweight products, while increasing production on this machine by 13% or more. The #1 Paper Machine produces coated free-sheet web rolls that range from 70# – 146# basis weights, as well as matte reply card.

The second of these planned projects will provide cleaner whitewater that will better enable reuse throughout the mill and reduce associated heat loss to the effluent. This project is expected to reduce fuel costs and has the potential to reduce effluent flows by as much as 20%.

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11.01.2011

Vistaprint Completes Acquisition of Leading European Photo Book Provider Albumprinter

Vistaprint N.V., a leading online provider of professional marketing products and services to micro businesses and the home, today announced it has completed its acquisition of Albumprinter, a privately held Dutch photo book and photo product company. The purchase price was EUR 60 million, with an agreement to pay up to an additional EUR 5 million based on a performance based earn-out. The final purchase price is subject to customary, post-closing balance sheet adjustments.

This acquisition combines Vistaprint's strengths of a pan-European customer base with Albumprinter's specialized expertise and technology for the design and production of photo books. Vistaprint currently plans to promote the Albumprinter offering across the European market. The acquisition will also enable Albumprinter's customers to benefit from a much expanded product offering of personalized products that Vistaprint produces.

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11.01.2011

Sonoco Recycling Acquires American Recycling of South Carolina, LLC

Sonoco Recycling, Inc., a wholly owned subsidiary of Sonoco and one of the largest packaging recyclers in North America, announced today that it has completed the acquisition of American Recycling of South Carolina's Greenville location, a large material recovery facility (MRF). The new facility is expected to significantly increase Sonoco Recycling's ability to meet rising demand in the Upstate.

"With this acquisition, Sonoco Recycling has significantly expanded its single-stream recycling capabilities in the Upstate," said Jim Brown, vice president, Sonoco Recycling. "The Greenville MRF will help accelerate Sonoco Recycling's current goal of doubling the volume of tons collected by 2014."

The acquisition of the Greenville facility as Sonoco Recycling's fifth MRF will expand Sonoco's operations in one of the largest metro cities in South Carolina, securing its position as South Carolina's recycling industry leader. The Company already has operations in Charleston, Columbia and Spartanburg.

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11.01.2011

RR Donnelley Awarded New Multi-Year Multi-Million Dollar Agreement by Highlights For Children, Inc.

R. R. Donnelley & Sons Company today announced that it has been awarded a new multi-year multi-million dollar agreement by Highlights For Children, Inc. Under the terms of the agreement the company will produce Highlights magazine, described as the most recognizable and widely-read children's magazine in the nation, and High Five, a version for younger children. RR Donnelley will also draw upon its leading logistics resources to provide co-mail services.

"We are very pleased to enter into this new collaborative relationship with RR Donnelley," said Kent S. Johnson, Highlights For Children's Chief Executive Officer. "Since Highlights' unique vision was brought to life 65 years ago we have continued to incorporate innovations as we bring Fun With A Purpose to children and their parents. We look forward to working with RR Donnelley and to taking advantage of the broad range of innovations that they offer."

"We are honored to begin producing these flagship publications and are delighted to be expanding our relationship with Highlights For Children," said John Paloian, RR Donnelley's Chief Operating Officer. "Many of our employees know from personal experience the role that engaging graphics play in drawing children's enthusiastic interest. We believe that our platform is an ideal match for Highlights' special vision."

RR Donnelley also produces books and related materials for Highlights For Children, Inc.

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11.01.2011

Crude Falls a Third Day on China Manufacturing Slowdown, European Debt

Oil dropped for a third day in New York on speculation commodity demand will falter as Chinese manufacturing slows and European leaders struggle to contain the region’s debt crisis.

Futures slid as much as 2.9 percent, after posting their biggest gain last month since May 2009, amid signs of higher production from OPEC members as Libya bolstered exports. China’s Purchasing Managers’ Index fell for the first time in three months in October, a report showed. Greek Prime Minister George Papandreou said he will submit the European Union’s new financing deal for a national referendum.

“The list of things weighing on the market is long,” said Olivier Jakob, managing director at Petromatrix GmbH in Zug, Switzerland, who correctly predicted that this year’s oil rally would stall. “There’s the Chinese PMI, the Greek referendum taking EU leaders by surprise, the euro-dollar collapsing.”

Oil for December delivery declined as much as $2.68 to $90.51 a barrel in electronic trading on the New York Mercantile Exchange and was at $90.62 at 10:55 a.m. London time. Futures fell 0.1 percent yesterday and climbed 18 percent in October.

Brent oil for December settlement dropped 1.7 percent to $107.67 a barrel on the London-based ICE Futures Europe exchange. The European benchmark contract’s premium to U.S. futures was at $17.05 a barrel, compared with a gap of $16.37 at yesterday’s close, the lowest in more than four months.

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11.01.2011

Hearst Magazines International Launches Harper's Bazaar in Brazil Starting With The November Issue

Harper’s Bazaar launches an edition of its iconic fashion magazine in Brazil, today announced Duncan Edwards, president & CEO of Hearst Magazines International (HMI). Published in partnership with Carta Editorial, Harper’s Bazaar Brazil premieres with the November issue, featuring supermodel Gisele Bündchen on the cover, on newsstands November 3.

For nearly 150 years, Harper's Bazaar has been the style resource for women who are the first to buy the best, from casual to couture. With authority, insight and imagination, Harper's Bazaar showcases the work of world-class designers and photographers and the most talked about pop culture, political and celebrity icons of the day. The magazine is published in 16 languages and distributed in 43 countries.

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11.01.2011

Ilim Group's output in the Northwest of Russia reaches 800,000 tons

During the first three quarters of 2011 the companies of Ilim Group in the Northwest of Russia (Koryazhma Branch in the Arkhangelsk Oblast, and Ilim Gofra corrugated box plant in the Leningrad Oblast) manufactured 800,000 tons of pulp and paper products, which is 6% over the same period of 2010.

This includes 266,000 tons of market pulp, which is an 8% percent increase over the first three quarters of 2010.

Market containerboard production has gained 2%, reaching 364,000 tons.

Paper output has reached 170,000 tons. This is 14% above the first nine months of 2010. This includes 61,000 tons of sack paper, 75,000 tons of offset paper and 34,000 tons of paper for wallpaper manufacturing purposes.

OAO Ilim Gofra has manufactured 90,163,000 m2 of products (corrugated board and boxes), increasing the output by 25%.

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11.01.2011

Mondi Group: Interim Management Statement 31 October 2011

The Group’s underlying operating profit in the third quarter 2011 of €136 million (year to date €490 million) was well above that of the comparable prior year period but below that achieved in the previous quarter (€175 million). This performance reflects the impact of the planned third quarter maintenance shuts, estimated to have negatively affected underlying operating profit by approximately €20 million, and a generally softer trading environment, including the impact of destocking, compared to a very strong first half of 2011.

During the quarter, the uncertainties inherent in the macroeconomic environment resulted in some weakening in demand and moderately lower sales prices. This was partly offset by stable or reducing input costs. Average benchmark recovered fibre prices were down by 4% in the quarter, whilst wood costs remained largely unchanged over the same period.

Most emerging market currencies to which the Group is exposed as a net exporter were slightly weaker against the euro when compared to the second quarter, providing a small positive contribution to the Group’s performance. Similarly, the recent strengthening of the US dollar versus the euro is offering some support to European pricing.

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11.01.2011

Style.com Goes Retro, Launches Print Magazine

The inaugural print issue of Style.com made its debut Monday, in an unusual move for a web magazine.

The issue, a recap of the spring 2012 runway collections, is an interesting adaptation of the web to print form. Large-format layouts, which are adorned with graphic elements from ’80s-era operating systems, look as if they were formatted in HTML/CSS rather than InDesign. Tweets are printed alongside full-page ads from major fashion advertisers like Versace and Valentino. The collections are ranked not by editorial preference but by page view numbers.

We’re still not sure about the closeup cover image of 17-year-old model Lindsey Wixson, which may have been designed to look pixelated but instead looks like a low-resolution test copy. The issue is pretty decent otherwise.

A print launch is unusual move for any publisher, online or traditional. True, Style.com is run by a division of Conde Nast, a company with robust printing operations already in place. But most companies (Conde Nast included) have focused primarily on digital launches as of late. Even new titles are being released first as digital-only editions.

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11.01.2011

Sappi Fine Paper North America Receives Recognition for Industry Leadership in Environmental Strategy and Promotional Campaigns

Sappi Fine Paper North America has been nominated for four awards in the third annual 2011 Pulp & Paper International (PPI) Awards. The PPI Awards are the only global awards dedicated to recognizing these achievements in various sectors.

Sappi Fine Paper North America has been declared a finalist for four awards spanning three different categories. The award nominations are a testament to Sappi's continued investment in both its assets and in creating value added resources for its customers:

Mill Award: Environmental Strategy of the Year Award - The Somerset Mill in Skowhegan, Maine, was recently certified by the Center for Resource Solutions' Green-e® Energy Marketplace program, as a result of a $49M capital investment in renewable energy generation that consisted of upgrades to the recovery cycle equipment and the implementation of other related projects at the Somerset pulp mill. Under the Green-e certification, 100 percent of the electricity used to manufacture Opus web paper at the Somerset Mill is Green-e certified renewable energy.

Environmental Message, Promotional Campaign of the Year: eQ Sustainability Program - eQ is Sappi's industry-leading branded communication platform on sustainability and includes the eQ Microsite, which is designed to elevate readers' environmental knowledge with blog posts, videos and insights into the industry.

Pulp, Paper & Board Product, Promotional Campaign of the Year: Digital Design Center - The Digital Design Center is an innovative web application that allows printers to create custom marketing tools to promote their own digital printing capabilities and Sappi Fine Paper North America's portfolio of digital papers.

Pulp, Paper & Board Product, Promotional Campaign of the Year: Flo Channel/Off Register - The FloChannel/Off Register is an online comedy video series developed to demonstrate how print and alternate media can work together to deliver exciting results in a multimedia campaign. The series features actors from Second City improvisational group and the printed component demonstrates the high quality of Sappi's paper - Flo, as well as innovative printing techniques.

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11.01.2011

Raw Material Volatility Will Lead to Price Increases on all Sun Chemical Packaging Inks Globally

Due to continued increases in the costs of raw materials and volatility in the supply chain, Sun Chemical will raise prices globally on all packaging inks for all printing methods and chemistries on December 1.

The price increases will vary as different products that Sun Chemical offers have a different chemical composition, but the average cost increase will be approximately 6 percent for most products.

White inks, nitrocellulose varnish, and other products containing the phthalocyanine green (PG7) pigment will each see significantly higher price increases. Specific price increases by region will be announced in the following days.

“Raw materials cost and supply instability continue to significantly impact the ink industry,” said Felipe Mellado, Chief Marketing Officer, Sun Chemical. “In fact, raw materials in 2011 experienced both a record level of volatility as well as unprecedented price increases. Titanium Dioxide, for example, experienced steep price increases reaching a level more than 50 percent higher than in early 2010.”

In addition to steep price increases for TiO2, there were very significant increases in nitrocellulose, energy cure resins, acrylics and other packaging resins, styrene, classical pigments, carbon black, vegetable oils, solvents, and additives.

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11.01.2011

Martha Stewart Living Omnimedia Reports Third Quarter 2011 Results

Martha Stewart Living Omnimedia, Inc. today announced its results for the third quarter ended September 30, 2011. The Company reported revenue for the third quarter of $52.2 million.

Revenues were $52.2 million in the third quarter of 2011, compared to $49.7 million in the third quarter of 2010, as higher merchandising revenue was mostly offset by modest declines in publishing revenue.

Adjusted EBITDA for the third quarter of 2011 was a loss of $(2.3) million, compared to a loss of $(5.6) million in the prior year period.

Operating loss for the third quarter of 2011 amounted to $(9.3) million, which included a $(3.8) million restructuring charge in the quarter related to changes in executive management and professional fees. Operating loss for the third quarter of 2010 was $(7.9) million. Absent the restructuring charge, operating loss improved year-over-year helped by higher merchandising profits and a reduced operating loss in broadcasting.

Net loss per share was $(0.18) for the third quarter of 2011, compared to a net loss per share of $(0.16) for the third quarter of 2010.

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11.01.2011

KapStone Completes Acquisition of U.S. Corrugated

KapStone Paper and Packaging Corporation today announced that it has completed the acquisition of U.S. Corrugated, Inc.. Under the terms of the sale, KapStone acquired USC, including a 240,000 ton recycled containerboard paper mill in Cowpens, SC and 14 converting facilities in the eastern and mid-western United States. USC has been successful in creating strong, long-term customer relationships resulting from outstanding service, quality and innovation.

"Today we are welcoming USC's team as the newest members of KapStone," stated Roger W. Stone, Chairman and Chief Executive Officer. "We look forward to building on their momentum. The acquisition of USC now transforms KapStone into a much more profitable and stronger company."

Funding for the acquisition came from cash on hand and borrowing under a new $525 million senior secured credit facility led by Bank of America Merrill Lynch and Barclays Capital. The new facility consists of a $375 million term loan maturing over five years and a $150 million revolving credit facility. At closing, KapStone's previously existing $101 million term loan was repaid. KapStone now has a $375 million 5 year term loan at an initial interest rate of 2.25%. The revolver was unused and is available for working capital requirements.

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11.01.2011

Meredith Completes Acquisition of Every Day with Rachael Ray From Reader's Digest Association

Meredith Corporation and Reader's Digest Association announced today they have completed the agreement for Meredith to acquire Every Day with Rachael Ray magazine and its related digital assets. In addition, Meredith announced it has finalized a 10-year licensing agreement with Watch Entertainment Inc. for the award-winning brand.

The acquisition includes the popular magazine that's published 10 times annually with a 7.4 million audience and 1.7 million ratebase. The first issue of Every Day with Rachael Ray published under the Meredith banner will be February 2012, available on newsstands in early January.

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11.01.2011

Shrinking Without Wrinkling -- New Avery Dennison Label Material Enables Late-Stage Decorating of Vacuum-Shrink Bags

A new brand-enhancing pressure-sensitive labeling solution for meat and dairy packaging applications is being introduced by Avery Dennison Label and Packaging Materials (LPM) at Labelexpo 2011. The patent-pending product, called Avery Dennison Shrink PS, is engineered to survive the vacuum-shrink process without wrinkling, providing both shelf appeal and production-related benefits.

Avery Dennison Shrink PS labels are applied to shrinkable bags off-line or in-line prior to filling and vacuum sealing. Compared with preprinted shrink-bag labeling, the Shrink PS solution offers enhanced labeling flexibility and the opportunity to differentiate products at a later stage in the packaging process. As a result, food processors can reduce or eliminate multiple sets of preprinted shrink bags in inventory, cutting overall costs and increase flexibility.

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11.01.2011

HarperCollins to Acquire Thomas Nelson

In a deal that will unite the country’s two largest religion book publishers, HarperCollins, parent company of Zondervan, has reached an agreement to acquire Thomas Nelson for an undisclosed price. HC expects to close the purchase before the end of the year.

HC CEO Brian Murray said the publisher was attracted to Nelson because of its “great content and great authors.” He sees Nelson as being more broad based than Zondervan, pointing to Nelson lines in such areas as business and leadership. Nelson, he added, “is a leader in the inspirational market and we are always looking for good content.” Nelson has had one of the bestselling books of the year in Heaven Is for Real. The area where the two are in the most direct competition is the Bible category. Nelson and Zondervan are the dominant Bible publishers in the Christian market, and they license or own translations that compete head to head.

Murray said it was too early to discuss how Nelson will be integrated into HC, although he said HC will continue to maintain offices in Grand Rapids, Mich., home to Zondervan, as well as Nashville where Nelson is headquartered.

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10.31.2011

AbitibiBowater Announces Improved Operating Earnings for Third Consecutive Quarter

AbitibiBowater Inc. today reported a net loss of $44 million for the third quarter of 2011, or $(0.46) per share, on sales of $1.2 billion. This compares with a net loss of $829 million, or $(14.35) per share, on sales of $1.2 billion in the third quarter of 2010.
Excluding $96 million of special items described below, net income in the quarter was $52 million, or $0.53 per share, compared with a net loss excluding special items of $95 million, or $(1.65) per share, in the third quarter of 2010.
"Our operating earnings improved for the third consecutive quarter following emergence at the end of last year," said Richard Garneau, president and chief executive officer. "Overall shipments increased and, with the exception of pulp, pricing in each of our segments was stable or better in this quarter. We continue to make progress in spite of an economy that continues to prove challenging."

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10.31.2011

UPM launches a new composite in which wood fibres replace non-renewable raw material

UPM has developed a new composite for both industrial and consumer end-uses. The new composite is made from virgin wood fibers and clean plastic polymers. The proportion of wood fibres in the composite varies from 20 to 60 percent depending on the end-use.

UPM’s new composite is suitable for various end-uses, explains Stefan Fors, Director of UPM’s Advanced Fibre Materials. “UPM’s new composite is ideal for electronic and automotive industries. It is also good material for furniture, tableware and other goods for everyday living. The possibilities are extensive. Our strong point is the raw material — renewable and wood-based pulp fibre.”

The new composite can be dyed and moulded like plastic. Products made from UPM’s composite are consistent quality, odourless and safe. The material is delivered to customers in the form of composite granules, which UPM produces in Lahti, Finland.

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10.31.2011

Amcor Unveils Round Wide Mouth PET Jar for Food Packaging

Amcor Rigid Plastics, the world’s leading producer of polyethylene terephthalate (PET) packaging, is ready to unseat glass as the dominant material in 24 oz wide mouth food containers. The industry leader in hot fill technology sees major market opportunities for its newly introduced 24 oz round, wide mouth PET jar for the food industry. The stock hot fill container is a lightweight replacement for glass for pasta sauces, apple sauce, salsas, jams and jellies, and other food products filled at temperatures up to 205 F.

Conversion from glass to PET not only improves a brand owner’s environmental stance but its market position with consumers as well. Users, particularly families with children, will now be able to enjoy the consumer-friendly benefits of PET including lightweight, easy opening, and much improved product evacuation. Also high on the list of key features is the unbreakable design, transparency, and the environmental benefits of a lightweight and recyclable jar.

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10.31.2011

Billerud reports strong earnings and very strong cash flow

Highlights: January-September 2011 compared with the same period in 2010

Net sales amounted to SEK 7 257 million (6 549), an increase of 11%.
Operating profit amounted to SEK 903 million (711), corresponding to a margin of 12% (11).
Profit for the period amounted to SEK 638 million (480).
Earnings per share amounted to SEK 6.19 (4.66).

July-September 2011 compared with April-June 2011

Net sales amounted to SEK 2 327 million (2 383).
Operating profit amounted to SEK 296 million (275). The increase is mainly due to lower costs including lower costs for periodic maintenance shutdowns and lower costs for inputs.
The order situation weakened during the quarter.
Prices in local currency for the packaging paper segments were stable compared with the second quarter. Price pressure increased, however, towards the end of the quarter.
Market-related shutdowns were implemented during the quarter, primarily relating to sack paper, in order to restore the balance in the market.

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