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

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).

Send to a Friend

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).

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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).

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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."

Send to a Friend

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).

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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."

Send to a Friend

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.

Send to a Friend

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.”

Send to a Friend

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.

Send to a Friend

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.

Send to a Friend

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.”

Send to a Friend

02.10.2012

New York Cottages & Gardens to Launch

Luxury design publisher Cottages & Gardens will roll out a new title in March aimed at the affluent hoods of New York. New York Cottages & Gardens is targeting upper-income areas of the city, Westchester Country, Long Island and Hudson Valley. The content focuses on décor, design, real estate, gardening and decoration. The publisher, which is known for high-end oversized luxury books like Connecticut Cottages & Gardens, will issue the new title five times a year, two in spring and three in the fall.

According to the editorial calendar for the magazine, the March/April number will be dedicated to Top Trends of 2012, followed in May/June with the “Get Ready for Summer” issue.

Send to a Friend

02.10.2012

Metso to supply containerboard machine for Kipas Kagit in Turkey

Metso will supply Kipas Kagit Sanayi Isletmeleri A.S with a containerboard machine for their new mill site in Kahramanmaras in southeastern Turkey. The start-up of the new machine is scheduled for 2013. The value of the order is approximately EUR 80 million.

Metso’s delivery will comprise a complete high-technology board machine. “The new machine will utilize gap forming technology which enables a higher production speed and production efficiency ratio for board machines,” says Area President Hannu T Pietilä from Metso. In addition, Metso’s extensive automation package will comprise process, machine and quality controls.

Send to a Friend

02.10.2012

Nippon Paper Group to Resume Operation of Paper Machine N5 and N6 at Ishinomaki Mill and Bring Forward the Planned Shutdown of Some Production Facilities

Nippon Paper Group, Inc. (President: Yoshio Haga) has moved forward with reconstruction efforts at Ishinomaki Mill (Ishinomaki, Miyagi Prefecture), which sustained damage as a result of the Great East Japan Earthquake. Based on the Plan for Paper Business Revitalization announced on August 3, 2011, the Group is working to restart the commercial operation of paper machine N5 and N6. As a result, a total of four paper machines and one coating machine will be brought back into service at Ishinomaki Mill, following the restarting of paper machine 8 in September 2011 and paper machine N4 and coating machine 4 in November 2011. The resumption means that production capability is expected to recover to 75% or above of almost 850,000 tons/annual, the total capacity of the fully restored Ishinomaki Mill.

With the restarting of paper machine N5 and N6 at Ishinomaki Mill, the Nippon Paper Group has also decided to bring forward the planned shutdown of some production facilities as set forth in the Plan for Paper Business Revitalization as follows, as a measure to cope with the severe conditions in the paper products business in Japan. The Nippon Paper Group will continue to proceed steadily with the restoration work based on the Plan for Paper Business Revitalization, seeking to move forward with the fundamental structural changes of the Group's paper business and enhance its competitiveness.

Send to a Friend

02.10.2012

Sonoco Reports Fourth Quarter and Full-Year 2011 Results

Sonoco, one of the largest diversified global packaging companies, today reported financial results for the fourth quarter and full-year 2011. As a result of the Company’s accounting calendar, the fourth quarter of 2011 had six fewer days than the same period in 2010.

Fourth Quarter Highlights: Fourth quarter 2011 GAAP earnings per diluted share were $.29, compared with $.33 in 2010. Fourth quarter 2011 GAAP results include after-tax charges of $.17 per diluted share, driven by previously announced restructuring activities, acquisition expenses and acquisition inventory step-up costs. Base net income attributable to Sonoco (base earnings) for fourth quarter 2011 was $.46 per diluted share, compared with $.59 in 2010. Fourth quarter 2011 net sales were $1.13 billion, or essentially flat with the fourth quarter of 2010.

Full-Year Highlights: Full-year 2011 GAAP earnings per diluted share were $2.13, compared with $1.96 in 2010. Full-year 2011 GAAP results include $.16 per diluted share in after-tax restructuring charges, acquisition expenses and acquisition inventory step-up costs, partially offset by net positive adjustments to valuation allowances on deferred tax assets. In comparison, 2010 GAAP results included after-tax impairment and restructuring charges, debt tender and acquisition expenses along with certain tax adjustments totaling $.38 per diluted share. Net sales reached a record of $4.5 billion in 2011, up 9 percent, compared with $4.1 billion in 2010.

Send to a Friend

02.10.2012

Postal Service Losses Continue in First Quarter

The U.S. Postal Service ended the first three months of its 2012 fiscal year (Oct. 1 – Dec. 31, 2011) with a net loss of $3.3 billion. Management expects large losses to continue until the Postal Service has implemented its network re-design and down-sizing and has restructured its healthcare program. Additionally, the return to financial stability requires legislation which gives the Postal Service typical commercial freedoms, including delivery flexibility, returns over $10 billion of amounts overpaid to the Federal Government and resolves the need to prefund retiree healthcare at rates not assessed any other entity in the United States.

Stronger than expected holiday shipping activity, driven by strong growth in online merchandise sales and successful USPS marketing efforts, helped the Postal Service grow its competitive Shipping Services business in the first quarter, with revenue totaling $2.8 billion, an increase of $179 million or 7 percent over the same period last year. However, declines in First-Class and Standard Mail of $650 million were 3.7% percent of total revenue and greatly exceed the gains made in the package business. First-Class Mail declines due to electronic migration of transactions are expected to continue for the foreseeable future.

Mailing Services revenue, excluding First-Class Mail parcels, totaled $14.5 billion, a decrease of 2.9 percent. First-Class Mail continued to decline, with revenue decreasing 4.1 percent compared to the same period last year. First-Class Mail revenue has declined nearly 15 percent and volume has declined 25 percent since volume peaked in 2006. While some of the decline is attributable to economic weakness since 2007, the more significant factor is the continuing transition to electronic alternatives.

Send to a Friend

02.09.2012

Resolute Reports Preliminary Fourth Quarter and 2011 Financial Results

AbitibiBowater Inc., doing business as Resolute Forest Products, today reported net income of $41 million for the year ended December 31, 2011, or $0.42 per share, on sales of $4.8 billion, compared with net income of $2.6 billion, or $27.63 per share, on sales of $4.7 billion in the year ended December 31, 2010.1 Net loss for the fourth quarter of 2011 was $6 million, or $(0.06) per share, on sales of $1.1 billion, compared with net income of $4.2 billion, or $44.82 per share, on sales of $1.3 billion in the fourth quarter of 2010.1

Excluding $125 million of special items described below, net income for the full year was $166 million, or $1.71 per share. Excluding special items of $51 million, net income in the fourth quarter was $45 million, or $0.46 per share. For the full year 2010, net loss excluding special items was $831 million, or $(8.78) per share, and $235 million, or $(2.49) per share, in the fourth quarter 2010.

Send to a Friend

02.09.2012

M-real Corporation’s operating result excluding non-recurring items was EUR 59 million in 2011

Full year result for 2011: Sales were EUR 2,485 million (Q1–Q4/2010: 2,605). The operating result excluding non-recurring items was EUR 59 million (173). The operating result including non-recurring items was EUR -214 million (146). The result before taxes excluding non-recurring items was EUR 0 million (92). The result before taxes including non-recurring items was EUR -281 million (48).

Result for the fourth quarter of 2011: Sales were EUR 524 million (Q3/2011: 616). The operating result excluding non-recurring items was EUR -22 million (6). The operating result including non-recurring items was EUR -215 million (-13). The result before taxes excluding non-recurring items was EUR -33 million (-11). Result before taxes including non-recurring items was EUR -230 million (-29).

Send to a Friend

02.09.2012

Ahlstrom to present new release paper for premium self-adhesive graphics at Fespa Digital

Ahlstrom, a global high performance materials company, announced today it will launch SilcoTM Flat Premium, a new release paper for premium pressure sensitive adhesive (PSA) graphics, at Fespa 2012, in Barcelona on February 21-24, 2012.

Large format PSA graphics are used to apply eye-catching decoration or advertising to large surfaces in architecture, retail, vehicles or exhibitions. Those graphic laminates require specially designed release liners for a well performing lamination process, a precise printing and an outstanding visual effect of the applied film.

As a leading global release papers supplier, Ahlstrom offers a specific range of products for PSA graphic laminates, which is today expanded with the introduction of Ahlstrom SilcoTM Flat Premium, designed for the most demanding PSA graphic applications. This new two-side clay coated release paper has been developed for lamination with the most sensitive adhesive graphics materials, such as thin transparent films or cast vinyls.

Its effective back side moisture barrier ensures excellent dimensional stability and lay-flat for an impeccable print of the vinyl. The increased smoothness on both sides of the paper avoids orange peel effect and enhances the glossiness of vinyl films. As no pattern is transferred to the adhesive layer, also the level of clarity of the transparent films remains high.

Send to a Friend

02.09.2012

Catalyst Paper - Snowflake Downtime

Catalyst provided the following update on its Snowflake mill operations.
• Today, Snowflake is taking a 12 hour maintenance down on PM#3 to change a roller. It began at about 9 a.m. this morning (Feb. 8) and the machine is expected to be back up this evening. PM#1 is running and Snowflake expects no further planned maintenance or ONP-related down time in February.

• We are doing everything possible to meet order-book commitments as we work through the CCAA creditor protection process.

Send to a Friend

02.09.2012

Canfor Reports Results for Fourth Quarter of 2011

Canfor Corporation today reported a net loss attributable to shareholders of $44.1 million, or $0.31 per share, for the fourth quarter of 2011, compared to a shareholder net loss of $21.6 million, or $0.15 per share, for the third quarter of 2011 and shareholder net income of $32.9 million, or $0.23 per share, for the fourth quarter of 2010. For the year ended December 31, 2011, the Company’s shareholder net loss was $56.6 million, or $0.40 per share, compared to shareholder net income of $81.4 million, or $0.57 per share, for 2010.

The shareholder net loss for the fourth quarter of 2011 included various items affecting comparability with prior periods, which had an overall net negative impact of $12.0 million, or $0.09 per share. After adjusting for such items, the Company’s adjusted shareholder net loss for the fourth quarter of 2011 was $32.1 million, or $0.22 per share, compared to an adjusted shareholder net loss of $1.8 million, or $0.01 per share, for the third quarter of 2011, and adjusted shareholder net income of $15.1 million, or $0.11 per share, for the fourth quarter of 2010. For the year ended December 31, 2011, the adjusted shareholder net loss was $31.7 million, or $0.22 per share, compared to adjusted shareholder net income of $74.1 million, or $0.52 per share, for 2010.

The Company reported an operating loss of $64.0 million for the fourth quarter of 2011, an adverse variance of $78.5 million from operating income of $14.5 million in the third quarter of 2011. Included in this variance are restructuring costs of $22.5 million related to the announced closures of the Company’s Rustad sawmill and Tackama plywood plant in the BC Interior, and asset impairment charges of $9.2 million relating to certain lumber and panels assets.

Send to a Friend

02.09.2012

Bertelsmann announces preliminary figures for 2011

On the basis of preliminary and unaudited figures, the revenues of continuing operations of the international media company Bertelsmann increased to €15.3 billion (previous year: €15.1 billion) in the 2011 fiscal year. Organic growth, adjusted for portfolio and currency effects, came to about two percent. At a good €1.7 billion, Operating EBIT was slightly below the previous year’s €1.8 billion. A good performance of the advertising-driven businesses and rapidly growing e-book sales were offset by planned start-up losses for new growth platforms and the weak business performance of some of the printing operations, as well as declines in the replication and direct-marketing businesses. The Group’s Return on Sales, at around 11 percent (previous year: 12.1 percent), clearly exceeded the 10-percent mark.

Operating EBITDA totaled approximately €2.2 billion (previous year: €2.4 billion). Net financial debt remained unchanged at €1.9 billion (December 31, 2011) despite increased investment, and is well balanced with the company's profitability and cash flow. All prior-year figures were adjusted for the discontinued club and bookselling businesses of the former Direct Group.

Send to a Friend

02.09.2012

Crude Oil Rises for an Eighth Day in London on Euro Optimism, Cold Snap

Oil rose for a eighth day in London on optimism Greece will receive a second bailout and as freezing weather in Europe boosted demand for heating.

Brent crude climbed as much as 0.8 percent, headed for the longest rising streak since October 2009. Oil in New York rose a third day, gaining as much as 0.7 percent. Greek Finance Minister Evangelos Venizelos said he hoped for a “positive decision” on a loan package when he meets European policy makers in Brussels today. The euro rose against the dollar, making commodities priced in the U.S. currency more attractive.

“It’s a range of reasons to explain the uptick in crude: optimism that Greece will get the aid package so that lifts the risk appetite somewhat,” Carsten Fritsch, an analyst at Commerzbank AG in Frankfurt, said by phone. “Cold weather is here in Europe that may last until the end of the month which will lead to higher consumption of heating oil which is supportive for Brent oil prices.”

Brent oil for March settlement on the ICE Futures Europe exchange in London rose as much as 97 cents to $118.17 a barrel and was at $117.79 at 10:19 a.m. London time. The contract has gained 6.1 percent this month.

Crude for March delivery on the New York Mercantile Exchange was at $99.21 a barrel, up 50 cents, after rising as much as 64 cents to $99.31. The contract increased 0.3 percent yesterday to $98.71, the highest since Jan. 30.

Send to a Friend

02.09.2012

Catalyst Paper debtor-in-possession financing in place under CCAA order - TSX completes stock delisting review

Catalyst Paper Corporation announced today that further to its press releases dated January 31, 2012, the company and certain of its subsidiaries obtained a further Order from the Supreme Court of British Columbia under the Companies’ Creditors Arrangement Act (CCAA).

The Order amends and restates the Initial Order the Court granted on January 31, 2012. The Order also approves advances under the debtor-in possession (DIP) financing of up to approximately $175 million, subject to certain terms and conditions, that the lenders have agreed to provide to Catalyst during the CCAA proceedings. The Order has been recognized under chapter 15 of title 11 of the US Code.

The Order also declares certain named suppliers of the company as “critical suppliers” and requires those suppliers to continue to supply goods and/or services to the company on terms and conditions consistent with their supply relationship with the company as of January 27, 2012. The Order provides the critical suppliers with a charge to secure amounts they extend to the company after February 6, 2012. The critical suppliers have the right to make an application to the Court to vary the critical supplier order on March 11, 2012.

Catalyst also announced that the Toronto Stock Exchange (TSX) has determined to delist the company’s common shares at the close of market on March 8, 2012. The company no longer meets the TSX continued listing requirements as a result of its financial condition and the commencement of CCAA proceedings. Trading in the company’s common shares on the TSX will remain suspended.

Send to a Friend

02.09.2012

Metsäliitto Group’s operating result excluding non-recurring items was EUR 314 million in 2011

Full year result for 2011: Sales amounted to EUR 5,346 million (1–12/2010: EUR 5,377 million). The operating result excluding non-recurring items was EUR 314 million (547). The operating result including non-recurring items was EUR 29 million (497). The result before taxes and excluding non-recurring items was EUR 195 million (411). Including non-recurring items, the result before taxes was EUR -98 million (345).

Result for October–December 2011: Sales amounted to EUR 1,223 million (10–12/2010: EUR 1,391 million). The operating result excluding non-recurring items was EUR 3 million (142). The operating result including non-recurring items was EUR -200 million (82). The result before taxes and excluding non-recurring items was EUR -21 million (112). Including non-recurring items, the result before taxes was EUR -228 million (52).

Send to a Friend

02.09.2012

Orchids Paper Products Company Reports Record Quarterly Converted Product Sales and 2011 Results

Orchids Paper Products Company today reported year-end 2011 financial results.

Summary: Net sales of converted product in the fourth quarter of 2011 were $23.8 million, a new quarterly record, and exceeded those of the prior year quarter by $7.2 million, or 44%, marking four consecutive quarters of increased converted product sales.

Total net sales in the fourth quarter of 2011 increased 15% to $25.7 million, compared with $22.3 million in the same period in 2010. Full year net sales increased $5.3 million, or 6%, to $97.8 million, compared with $92.5 million in 2010.

Fourth quarter 2011 net income was $2.7 million, an increase of $1.8 million compared with $940,000 of net income in the same period of 2010. Full year net income for 2011 was $6.2 million, an increase of $284,000, or 5%, compared with $5.9 million of net income in 2010.

Send to a Friend

02.09.2012

ABA Says "No" to Amazon Publishing

The American Booksellers Association is the latest to weigh in on Amazon's publishing program following the decision by Barnes & Noble, Books-A-Million, and Indigo Books not to carry their titles. Today the organization's for-profit subsidiary, IndieCommerce, began removing all Amazon titles from its database.

In an e-mail message that went out Monday to indie bookstores that rely on the IndieCommerce Web platform, director Matt Supko wrote, “While Amazon is seeking to distribute its print catalog through conventional means, it seems that they are simultaneously pursing a strategy of locking in ebook exclusives which other retailers are not allowed to sell. IndieCommerce believes that this is wrong.” Not only has IndieCommerce decided not to list these titles, but it has created a new policy that states “only publishers’ titles that are made available to retailers for sale in all available formats will be included in the IndieCommerce inventory database.”

Send to a Friend

02.09.2012

Urban Outfitters Reports Record Sales

Urban Outfitters, Inc., a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands today announced record net sales for the quarter and year ended January 31, 2012.

For the fourth quarter of fiscal 2012, total company net sales increased 9% over the same quarter last year to $731 million. Comparable retail segment net sales, which include the direct-to-consumer channels, increased 2% for the quarter, while comparable store net sales decreased 1% for the quarter. Comparable retail segment net sales at Urban Outfitters, Free People and Anthropologie increased 3%, 9% and 1%, respectively. Direct-to-consumer comparable net sales increased 14% and wholesale segment net sales rose 3% for the quarter.

For the year ended January 31, 2012, total Company net sales increased to $2.5 billion or 9% over the prior year. Comparable retail segment net sales were flat while comparable store net sales decreased 4%. Direct-to-consumer comparable net sales rose 14% for the year and wholesale segment net sales increased 11%.

Send to a Friend

02.09.2012

CVS Caremark Reports Fourth Quarter and Full Year Results

CVS Caremark Corporation today announced revenues, operating profit and net income for the three months and year ended December 31, 2011.

Fourth Quarter Year-Over-Year Highlights: Net revenues increased 15.2% to a record $28.3 billion, with Pharmacy Services up 32.4% and Retail Pharmacy up 4.0%. Retail Pharmacy segment same stores sales increased 2.5%. Adjusted EPS of $0.89, up 16.2% excluding $0.03 per share tax benefit in prior year; GAAP diluted EPS from continuing operations of $0.84.

Full Year Highlights: Net revenues increased 11.8% to a record $107.1 billion, with Pharmacy Services up 24.9% and Retail Pharmacy up 3.9%. Retail Pharmacy segment same store sales increased 2.3%. Adjusted EPS of $2.80, up 5.9% excluding $0.03 per share tax benefit in prior year; GAAP diluted EPS from continuing operations of $2.59. Generated free cash flow of $4.6 billion; cash flow from operations of $5.9 billion.

Send to a Friend

Paperclips Blog | Quad Graphics Results

View by Week:

Category:

Popular Keywords