Paperclips Blog | RR Donnelley Results

07.05.2012
Costco Wholesale Corporation Reports June Sales Results

Costco Wholesale Corporation today reported net sales of $9.18 billion for the month of June, the five weeks ended July 1, 2012, an increase of six percent from $8.69 billion during the similar period last year. Both year's five-week periods included 34 days in the U.S. and Canada (U.S. warehouses closed Memorial Day; Canadian warehouses closed July 1st, Canada Day).

For the forty-four weeks ended July 1, 2012, the Company reported net sales of $80.46 billion, an increase of ten percent from $73.44 billion during the similar period last year.

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07.05.2012
Oil Drops in New York on Speculation Europe’s Economy Weakening

Oil fell in New York on speculation data from Europe and the U.S. will signal an economic slowdown that threatens to cut demand.

Futures slipped as much as 1.3 percent from July 3. Factory orders in Germany, the euro zone’s biggest economy, probably dropped 6 percent in May from a year ago, a Bloomberg News survey of economists showed before a report today. The U.S., the world’s largest crude user, may have had its weakest quarter for employment in more than two years, according to analysts polled before data today and tomorrow. London-traded Brent decreased yesterday amid signs a strike by oil workers in Norway may end.

“The key factor to look at is the payroll figures on Friday,” said Dominic Schnider, the global head of non- traditional assets at UBS AG’s wealth-management unit, who sees Brent crude falling back to $90 a barrel. “This is the most serious factor for the oil market to consider. The market isn’t going to react positively to a drop” in German manufacturing.

Oil for August delivery declined as much as $1.16 to $86.50 a barrel in electronic trading on the New York Mercantile Exchange and was at $86.96 at 2:34 p.m. Singapore time.

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07.05.2012
Microsoft writes down $6.2 billion on aQuantive deal

Microsoft Corp. plans to take a $6.2 billion accounting charge related to online ad service aQuantive Inc. That amount is almost the entire price Microsoft paid for the underperforming unit in 2007.

“While the aQuantive acquisition continues to provide tools for Microsoft's online advertising efforts, the acquisition did not accelerate growth to the degree anticipated, contributing to the write-down,” Microsoft said in a statement. AQuantive faced stiff competition in particular from Google's DoubleClick online ad service.

The aQuantive acquisition was Microsoft's costliest until last year, when it bought online communications company Skype Communications for $8.5 billion.

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07.05.2012
Appleton Coated shares “Greener” Corporate Sustainability Report

“Greener” profiles Appleton Coated’s growing sustainability, summarizing five years of progress in this 2011 Corporate Sustainability Report (CSR). Published in May 2012, “Greener” details Appleton Coated’s commitment to environmental responsibility and its goals for the future. It is available in print or as a digital download from www.AppletonCoated.com.

“We cannot control the economic recovery, but we can continue to improve the sustainability of Appleton Coated – environment, economy and community,” says Appleton Coated Chief Executive Officer Sandra Van Ert. “I have witnessed our determination and talent in the past, and I know this: The Appleton Coated family has what it takes to meet these challenges.”

Regarding the 2011 CSR, she adds, “Each number is more than a metric; it’s a reflection of enormous dedication and effort from our people. Being sustainable includes finding new opportunities as technology and customer needs change.

A highlight of its 2011 CSR notes that the company significantly increased the non-fossil fuel sources used to produce its paper. “In 2011, 29.2% of the total energy used to produce our paper came from alternative energy. This is up from 6.7%,” explains Ann Whalen, Appleton Coated’s senior vice president, marketing and customer service. “We have steadily increased our use of biomass to replace coal, and have grown our purchases of renewable electricity, primarily from wind power.”

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07.05.2012
2011 European Paper Industry Key Statistics published

The Confederation of European Paper Industries has just released its latest statistics which give a clear picture of the performance of the industry in 2011. These key statistics include data about production, consumption and the trade of pulp, paper and raw materials, as well as data concerning energy, the environment, and social affairs.
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07.03.2012
International Paper Completes Mill Divestitures

International Paper today announced that it has finalized the sale of its Ontario and Oxnard, California containerboard mills to New-Indy Containerboard LLC, along with its New Johnsonville, Tennessee containerboard mill to Hood Container Corporation. By completing these transactions, the company satisfies its divestiture obligations under its February 2012 settlement agreement with the U.S. Department of Justice. The settlement agreement, in which the company agreed to divest the three mills, was entered into in connection with the company's acquisition of Temple-Inland.
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07.03.2012
UPM Enters Into Exclusive Negotiations for the Sale of Assets of the Stracel Paper Mill ins Strasbourg, France

UPM is entering into exclusive negotiations with VPK Packaging Group NV and Klingele Papierwerke through their newly created joint venture company, for the sale of assets and part of the land at the UPM Stracel paper mill site in Strasbourg, France. VPK and Klingele have made an offer on the acquisition of assets from UPM. The offer is subject to finalization of its review by the bank mandated for the financing. According to the plan, UPM would retain part of the Stracel real estate in its possession for potential future production of advanced biofuels.

VPK and Klingele plan to convert the Stracel mill into a recycled fibre-based containerboard unit, producing fluting and test-liner. The planned production of the mill would be approximately 300 000 tonnes per year. The conversion from the current magazine paper production would require a considerable investment by the two buying companies. The new converted mill would create 140 jobs.

This transaction is subject to completion of the employee information and consultation process on the planned closure of Stracel and the social plan implemented by UPM at such occasion, which the contemplated transaction is a part of, due to the 130 job offers it is to provide to former UPM employees. This process will be launched shortly and is expected to be completed during the second half of 2012.

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07.03.2012
Verso Paper Corp. Announces Discussions with Holders of First-Lien Notes of NewPage Corporation Regarding Potential Business Combination

Verso Paper Corp. announced today that it has held discussions with certain holders of the 11.375% first-lien senior secured notes of NewPage Corporation in an effort to achieve a potential business combination involving Verso and NewPage as part of a consensual plan of reorganization in NewPage's Chapter 11 bankruptcy proceedings.

The terms of Verso's proposed transaction would provide NewPage's first-lien noteholders with $1.425 billion of value, consisting of $1.075 billion of new Verso first-lien notes, $150 million of Verso common stock, and $200 million of cash. In addition, the proposed transaction would include a 100% recovery in cash to repay NewPage's debtor-in-possession financing, a 100% recovery in cash for the allowed priority and administrative claims in the bankruptcy proceedings, a to-be-determined amount of Verso common stock for the holders of NewPage's second-lien notes, and a to-be-determined recovery for NewPage's unsecured creditors. To facilitate the transaction, a $200 million cash equity investment in Verso was contemplated. The proposed transaction would be subject to customary conditions, including the satisfactory completion of due diligence and the completion of antitrust review.

Verso believes that a combination with NewPage would create a stronger business in the global coated and supercalendered paper industry because of the material cost savings that would be achieved. Verso also believes that a combination with NewPage would provide a compelling option for a restructuring in that it would afford NewPage's first-lien noteholders a very attractive recovery, while at the same time treating fairly the other NewPage constituencies, including its employees, other creditor classes, and customers. Despite these advantages, Verso has been disappointed with the lack of progress in advancing its discussions with the first-lien noteholders. Verso continues to believe that its proposed transaction is the most sensible.

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07.03.2012
HACII announces effectiveness of registration statement for Appvion transaction

Hicks Acquisition Company II, Inc., a special purpose acquisition company sponsored and headed by Thomas O. Hicks, announced today that the Registration Statement on Form S-4 filed by HACII in connection with its proposed business combination with Appleton Papers Inc. (which will begin doing business as “Appvion” at closing) was declared effective by the Securities and Exchange Commission (the “SEC”) on June 29, 2012. HACII’s proxy statement, included as part of the registration statement, is in the process of being mailed to HACII’s security holders as of the applicable record dates.

HACII also announced today a revised proposal to amend the terms of its outstanding warrants in connection with the proposed business combination with Appleton. Under the revised warrant amendment proposal, the number of shares of common stock of HACII issuable upon exercise of HACII’s outstanding warrants will be reduced by half and, in addition, the holders of HACII’s outstanding public warrants will receive $0.625 per warrant at closing. The terms of the warrants will only be amended with the approval of warrantholders who own at least 65 percent of the outstanding public warrants.

HACII previously announced that a special meeting of its stockholders to consider and vote on the proposed business combination with Appleton and other related matters would be held on July 11, 2012 at 10:00 a.m. Central Daylight Time. HACII has changed the date of this special meeting to July 12, 2012 at 10:00 a.m. Central Daylight Time. HACII will also hold a special meeting of its public warrantholders on July 12, 2012 at 9:00 a.m. Central Daylight Time to vote on the proposal to amend the terms of HACII’s outstanding warrants, as discussed above. Each of these meetings will be held at the offices of Akin Gump Strauss Hauer & Feld LLP, 1700 Pacific Avenue, 39th Floor, Dallas, Texas 75201.

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07.03.2012
Mount Royal Printing and Fannon Fine Printing Merge Operations

The National Association for Printing Leadership (NAPL) has announced that Baltimore-based Mount Royal Printing has merged with Fannon Color Printing, located in Alexandria, VA. Daniel Fannon, who was CEO of Fannon, will lead the sales effort and become a senior staff person at Mount Royal.

NAPL, serving as Mount Royal’s strategic M&A advisor, counseled on the transaction price and structure and prepared the letter of intent for the transaction. Senior Vice President John Hyde, head of NAPL’s Mergers and Acquisitions Advisory Team, stated, “The transaction reinforces the importance for serious acquirers such as Mount Royal to get the word out that they are a good home for those seeking transition from ownership. The reputation of Mount Royal’s president and owner, Gary Cayce, was instrumental in having Fannon reach out to him when the timing was right.”

As he continues to execute his M&A growth strategy, Cayce noted, “We are utilizing strategic acquisitions to expand into different markets to strengthen our company’s position. The acquisitions have provided Mount Royal with the growth that we’ve been looking for.
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07.03.2012
Nielsen acquires Vizu

The Nielsen Company announced July 2 that it has acquired Vizu, an online ad measurement and optimization company, says Scott McKinley, VP of ad effectiveness at Nielsen. The acquisition has been finalized.

“It's a perfect synergy between the two companies,” says Dan Beltramo, CEO of Vizu. “Neilsen had a Vizu-shaped hole in their product line.”

That hole was in measuring online ads for brand advertisers, Beltramo says. Adding this to the television metrics Nielsen already has gives them the means to measure the effectiveness of brand advertisements across channels, he says.

Vizu will become part of the Nielsen Online Brand Effect Suite. Nielsen will now have a more complete set of brand advertisement measurement tools in the Brand Effect Suite, McKinley says. After the acquisition, Nielsen will offer mobile brand effect measurements, television brand effect measurements and online effect measurements to clients, he says. The acquisition of Vizu will enable real-time online ad measurement, and will be broken out into several categories, including ad exposure frequency and targeting strategy, Nielsen said in a statement.

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07.03.2012
Oil Rebounds in New York on Global Stimulus Speculation, Iran

Oil rebounded in New York on signs that central banks from Europe to China may ease monetary policy to spur economic growth and speculation sanctions against Iran will curb supply.

Futures gained as much as 1.1 percent, reversing earlier losses. The European Central Bank is forecast to cut interest rates this week to help curb the debt crisis, while a state- owned newspaper in China said the time is right to increase liquidity in the banking sector. An embargo targeting Iranian oil exports will probably have a bigger affect than previously estimated, according to Goldman Sachs Group Inc.

“It’s getting to a point, I think, that the bad numbers become a good thing for the market because we believe that there will be some action for stimulus,” Carl Larry, the president of Oil Outlooks & Opinions LLC in New York, said in a Bloomberg Television interview. He forecast that New York crude will average $92 to $94 a barrel this year.

Oil for August delivery climbed as much as 88 cents to $84.63 a barrel and was at $84.45 in electronic trading on the New York Mercantile Exchange at 4:14 p.m. in Sydney. The contract slid $1.21 yesterday to $83.75, the lowest close since June 28.

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07.03.2012
Catalog Mailers Need to Address Congress Regarding H.R. 2309

I requested this space to share a story with my peers who mail catalogs. It’s a story I find remarkable, alarming, somewhat shocking, and yet at the same time, not all that surprising - all in one. It’s my supreme hope that by the time you read all this, you too will be mobilized to hustle on over to Washington to let them know who the heck you are.

Because guess what? Congress still doesn’t have catalog mailers on its radar screen – they don’t get it – and we need to change this fast!

Last Thursday, I was able to get a meeting with a staffer for the U.S. House Oversight & Government Reform Committee, and a key member of Chairman Darrell Issa’s staff. Issa (R-CA is the chief architect of the House’s postal reform bill, H.R. 2309, which is expected to come up for debate on the House floor in just a few weeks.

Issa’s district is in California; my company is based in Connecticut. But with a little networking, this particular staffer, the guy devoted solely to postal legislation, was more than happy to spend an hour and a half with me in his office on Capitol Hill.

There’s a provision in H.R. 2309 that calls for a postal rate increase for underwater mail classes, products and types – this is a direct shot at catalog mail. If implemented, it could bury this industry.

If the 2007 rate increase weren’t enough; this bill could finish off the job. We can’t let this happen.

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07.03.2012
Consumer Confidence Declines in June, According to the Discover U.S. Spending MonitorSM

Consumer confidence in the economy and personal finances, which are key economic indicators, worsened in June to the lowest levels since January 2012. The Discover U.S. Spending Monitor, a 5-year-old daily poll tracking economic confidence and spending intentions of nearly 8,200 consumers throughout the month, declined 4.8 points to 90.7 in June.

The percentage of respondents who view the U.S. economy as improving dropped 4 percentage points to 29 percent in June.

At the same time, 53 percent of consumers now rate the U.S. economy as poor, which is an increase of 3 percentage points from the prior month and the highest level since January 2012.

Half of women now expect the economy to get worse, up 4 percentage points from last month; only 48 percent of men expect the same economic trend, and this remains unchanged from the prior month.

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07.03.2012
The Reader's Digest Association, Inc. Announces Sale of Its Lifestyle and Entertainment Direct Business to Mosaic Media Investment Partners

The Reader's Digest Association, Inc., the global multi-brand and multi-platform media and direct marketing company, today announced the sale of substantially all of its Lifestyle and Entertainment Direct business to Mosaic Media Investment Partners LLC.

The sale will better enable RDA to focus on its stated strategy of simplifying the organization's structure to drive greater profitability and growth in the Company's two core media and direct marketing businesses.

The sale includes Direct Holdings Americas, Saguaro Road Records and many of the assets of Direct Entertainment Media Group. The sale proceeds were not material.

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07.03.2012
Golfsmith International Inc. Announces Preliminary Second Quarter Fiscal 2012 Sales Results

Golfsmith International Holdings, Inc. today announced preliminary sales results for the second quarter of fiscal 2012.

Net revenues for the thirteen-week period ended June 30, 2012, increased approximately 12 percent to $146.0 million as compared to net revenues of $130.2 million for the second quarter of fiscal 2011. Net revenues reflect a 4.7 percent increase in comparable store sales and a 4.8 percent decrease in net revenues from the direct-to-consumer channel. The sales decline in the direct-to-consumer business reflects a 27.1 percent decrease in our catalog business associated with the declines in the clubmaker catalog channel, partially offset by an 8.3 percent increase in the web channel. The Company has opened 10 new stores and has not closed any stores since the second quarter of last year.

Net revenues for the twenty-six-week period ended June 30, 2012, increased approximately 12 percent to $237.0 million as compared to net revenues of $211.7 million for the second quarter of fiscal 2011. Net revenues reflect a 6.2 percent increase in comparable store sales and a 5.7 percent decrease in net revenues from the direct-to-consumer channel. The sales decline in the direct-to-consumer business reflects a 27.5 percent decrease in our catalog business associated with the declines in the clubmaker catalog channel, partially offset by an 8.0 percent increase in the web channel.

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07.02.2012
UPS Freight Announces 2012 Rate Adjustment

UPS Freight, the nation's fourth largest less-than-truckload (LTL) carrier, today announced a general rate increase averaging 5.9 percent covering non-contractual shipments in the United States, Canada and Mexico.

The rate adjustment takes effect on July 16, 2012, and applies to minimum charge, LTL rates and accessorial charges. Customers will be able to view and download the new rates at www.ltl.upsfreight.com.

UPS Freight's portfolio of services includes UPS WorldShip and Quantum View Manage technology, allowing both small package and LTL freight customers the capability to create bills of lading, schedule freight pickups, receive rate quotes and easily track shipments.

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07.02.2012
Tembec announces $30 million project financing

Tembec announced today that it has entered into a $30 million loan facility with Integrated Private Debt Corp. (IPD). IPD is the private debt division of Integrated Asset Management Corp. (TSX: IAM) of Toronto. The funds will be utilized to fund a portion of the previously announced $190 million capital project to upgrade the Company’s specialty cellulose manufacturing facility in Temiscaming, Quebec. When combined with the $75 million of project financing previously announced on March 16, 2012, the Company has now attained its objective of raising
$105 million of project financing.

The IPD loan will bear interest at the greater of 6.35% and the yield on equivalent term Government of Canada bonds plus 4.25% as of the date the funds are advanced. The loan will be reimbursed in blended monthly installments over a period of eight years beginning approximately 24 months after the initial advance with a “balloon” payment of $17.5 million to be repaid at the end of the ten-year term period. The loan is subject to compliance with certain covenants and undertakings customary with such types of facilities.

The project involves the replacement of three old boilers with a new high-pressure boiler designed to burn waste sulfite liquor, a co-product of the specialty cellulose manufacturing process, producing green steam for use at the facility. The project also calls for the installation of a new electricity turbine that will be driven by this steam. The turbine will increase the Temiscaming facility’s green electricity production capacity from its current 10 megawatts to 60 megawatts. The boiler is scheduled to start up in December 2013, followed by the turbine, in May 2014. Hydro-Québec will offtake the additional green electricity produced by this turbine under a 25-year contract at $106 MW/hour, indexed with CPI, which will strengthen and stabilize Tembec’s revenues through the economic cycle.
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07.02.2012
Sun Chemical adds the Streamline ESL HPQ and Ultima HPQ to its Streamline range

Sun Chemical, the world’s leading manufacturer of printing inks and pigments, is today launching the Streamline ESL HPQ and the Streamline Ultima HPQ, to meet the stringent demands of the latest wide format printing equipment.

The Streamline range is designed specifically for use in wide and super-wide format printers which are using high-quality solvent based inks. With the ever increasing pressure and developments of the print market, Sun Chemical is continuously making improvements to product performance ensuring that they are of the highest quality and meet the needs of this expanding market.

The Streamline ESL HPQ and Ultima HPQ ranges have been developed following extensive feedback of customer needs. The new products provide high print reliability and print quality.

Nick Goodall, The Colour Crew General Manager, participated in the beta testing scheme for Sun Chemical’s Streamline Ultima HPQ and commented: “We’ve had a very positive experience with Ultima HPQ - no problems at all! We had an issue with blocked ink heads with our previous ink system which increased the amount of down time. Cleaning and replacing them was a significant cost to the business. Essentially, with Sun Chemical’s Streamline ink system, we’re getting the highest quality ink product and performance at half the price of OEM.”

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07.02.2012
USPS to run mobile barcode mail promotion in November

This year’s 2% summer discount in the United States, for mail sporting two-dimensional barcodes for mobile phones, is set to begin on Sunday – but now looks set to be repeated in November.

In the festive campaign, mailers using Priority Mail to send their customer m-commerce purchases could get a 3% discount.

Following on from a successful promotion last summer, the US Postal Service will be offering a 2% discount in July and August for commercial mailers including a QR code or other mobile barcode on their mailings.

The promotion aims to boost mail volumes in the long term by highlighting the effectiveness of direct marketing mail when it is linked to online media. The special barcodes in the promotion allow consumers to use smartphones to scan the mail, directing their phones to websites supporting the direct mail campaign.

Yesterday, USPS filed a notice seeking approval from regulators, stating that its Governors have now approved another promotion based on a 2% mail discount for 7 November to 21 November 2012.

As with the summer campaign starting this weekend, the Holiday Mobile Shopping Promotion will provide an upfront 2% discount on First Class Mail and Standard Mail letters, flats and cards bearing a mobile barcode.
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07.02.2012
Online-only retailers begin Texas sales tax collection on July 1

Texas joins eight other states in taking legislative action requiring online-only retailers, notably Amazon.com, to collect sales tax. Online retailers will have to collect sales tax in Texas beginning July 1.

“A true free market is devoid of government preferences and special treatment," said Sandy Kennedy, president, Retail Industry Leaders Association. "Texas has made a powerful statement that its time to end special treatment for online retailers and close the sales-tax loophole that gives companies like Amazon an artificial leg up on Main Street retailers."

Eight states have followed Texas' lead and passed legislation or taken administrative action in the past year to help level the retail playing field by requiring online retailers like Amazon to collect sales tax. California and Pennsylvania are next up, with both states requiring Amazon to collect sales tax in September.
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07.02.2012
No online privacy for you

In a study of 269 web sites that track visitor behavior, Internet and mobile monitoring company Keynote Systems identified 211 third-party vendors collecting data. Of those, only one explicitly agreed to honor “Do Not Track” requests made by visitors, Keynote says.

The study also reports that among the 86% of web sites in the study that asked third parties to place tracking cookies on their visitors, 60% of those companies placed at least one cookie that violates industry privacy practices, for example tracking a customer who clicked on an opt-out button.

“As consumers begin to understand that their online behavior can be recorded, enterprises will have to work even harder to ensure that consumers’ privacy expectations are met,” says Ray Everett, Keynote’s director of privacy services. Half of U.S. consumers are concerned about their privacy, safety and security while buying online, according to a 2011 report by Forrester Research Inc.
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07.02.2012
DS Smith Completes Acquisition of SCA Packaging

DS Smith Plc is pleased to announce that completion of the Acquisition of the packaging division of Svenska Cellulosa Aktiebolaget SCA excluding the kraftliner assets occurred on 30 June 2012 as planned.

The consideration paid on Completion was €1,582 million (£1,280 million) net of cash and external debt, €1,606 million gross. This is subject to customary post Completion price adjustments.

SCA Packaging is the second largest packaging business in Europe and the Acquisition represents a significant opportunity for DS Smith to achieve its stated strategic aim of becoming the leading supplier of recycled packaging for consumer goods in Europe.

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07.02.2012
Bloomsbury Completes Acquisition of Applied Visual Arts Publishing

Bloomsbury announces that it has today completed the purchase of Applied Visual Arts Publishing ("AVA"), creative publishers for the applied digital arts, from Applied Visual Arts Publishing SA and AVA Publishing (UK) Limited for a total consideration of CHF 2,578,930 (approximately £1,730,000). The consideration will be paid in cash from existing cash balances in three equal annual instalments, commencing on the date of completion.

AVA, established in 2001 in Switzerland, with its English language editorial support office in Worthing, publishes between 20 and 30 books per annum for students and professionals in the applied visual arts and had a turnover of £1,820,000 for the year ended 31 December 2011. The books are written by leading academic authorities, and have been adopted by many hundreds of universities, colleges and higher education bodies around the world. AVA has a strong following within the design community. Their books are renowned for being design-led and have a particular appeal for visual learners.

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07.02.2012
Oil Declines After Biggest Gain Since 2009 on Europe Concerns

Oil declined in New York as euro-area unemployment reached the highest level on record, prompting speculation that crude’s surge last week, its biggest in three years, may have been excessive.

The jobless rate in the 17-nation area rose to 11.1 percent in May from 11 percent in April, the European Union’s statistics office in Luxembourg said today. That’s the highest since the data series started in 1995. China’s manufacturing activity slowed in June, according to HSBC Holdings Plc and Markit Economics. An EU embargo on Iranian oil started yesterday.

“Crude’s strong movement last week was a bit too much too fast probably, so today we’re seeing it a bit lower again,” said Hannes Loacker, an analyst at Raiffeisen Bank International AG in Vienna, who correctly predicted Brent crude would rebound at the end of last month. “Headwinds from the euro zone” may delay oil’s recovery, he said.

Crude for August delivery dropped as much as $1.44 to $83.52 a barrel in electronic trading on the New York Mercantile Exchange and was at $83.65 at 10:11 a.m. London time. The contract gained $7.27 on June 29 to $84.96, the highest close since June 7.

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07.02.2012
'FT' rolls out ad campaign in U.S.

The Financial Times has rolled out a print and digital ad campaign in the U.S. The budget was not disclosed, but the newspaper said it will be a multimillion-dollar program.

The campaign, from agency DDB London, includes ads placed in print and online editions of Bloomberg Businessweek, CNN Money, The Economist, Fast Company, Fortune and New Scientist throughout the summer.

Campaign creative focuses on the American flag. One ad features an image thousands of red, white and blue cars forming the flag to emphasize U.S. manufacturing power. Another depicts an oil-drilling rig against rock strata, again represented by the American flag, to portray the country's energy challenges.

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07.02.2012
Your E-Book Is Reading You

It takes the average reader just seven hours to read the final book in Suzanne Collins's "Hunger Games" trilogy on the Kobo e-reader—about 57 pages an hour. Nearly 18,000 Kindle readers have highlighted the same line from the second book in the series: "Because sometimes things happen to people and they're not equipped to deal with them." And on Barnes & Noble's Nook, the first thing that most readers do upon finishing the first "Hunger Games" book is to download the next one.

In the past, publishers and authors had no way of knowing what happens when a reader sits down with a book. Does the reader quit after three pages, or finish it in a single sitting? Do most readers skip over the introduction, or read it closely, underlining passages and scrawling notes in the margins? Now, e-books are providing a glimpse into the story behind the sales figures, revealing not only how many people buy particular books, but how intensely they read them.

For centuries, reading has largely been a solitary and private act, an intimate exchange between the reader and the words on the page. But the rise of digital books has prompted a profound shift in the way we read, transforming the activity into something measurable and quasi-public.

The major new players in e-book publishing—Amazon, Apple and Google—can easily track how far readers are getting in books, how long they spend reading them and which search terms they use to find books. Book apps for tablets like the iPad, Kindle Fire and Nook record how many times readers open the app and how much time they spend reading. Retailers and some publishers are beginning to sift through the data, gaining unprecedented insight into how people engage with books.

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06.29.2012
The Cloquet Mill Rises Above The Flood

All pulp and paper operations are now back up and running at Cloquet. Our entire Cloquet team rallied to get us fully back to business without any serious injury or environmental impact. Their quick response to record breaking flood levels allowed us to avoid any permanent damage to the mill infrastructure. Even most WIP and finished goods inventory was protected from water damage – with shipping activity out of the mill starting last Saturday.

Meanwhile, as Cloquet continues to work on flood clean-up, our customer service and supply chain teams remain in full gear, contacting you with any delays, rescheduling deliveries, and fulfilling orders from inventory. As a result of this teamwork, most customer orders have been unaffected by the regional flood. For those of you who have experienced a delay, we do thank you for your patience and understanding. We continue to work hard to minimize any further service disruptions.

We stand ready to meet your needs, with full inventories and flexible machine schedules at both Somerset and Cloquet. McCoy, Opus, Somerset and Flo are fully stocked and readily available – as is our dedicated sales team. Please call your Sappi sales representative with any questions on how we can serve you better, and to place your orders.

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06.29.2012
Verso Paper Corp. Announces Grant Program to Increase Certified Forest Acreage near Its Paper Mills

Verso Paper Corp. (NYSE:VRS) today launched the Verso Forest Certification Grant Program, an initiative aimed at increasing certified fiber and certified acreage on lands near the company's four paper mills. The program will provide start-up funding to encourage and assist landowners, consulting foresters and other stakeholders in developing innovative new projects that will help expand and maintain certification in Verso's wood procurement zones.

"Verso's Forest Certification Grant Program helps us meet two important sustainability commitments," says Verso Senior Vice President for Manufacturing and Energy Lyle Fellows. "By encouraging expanded forest certification, we're advancing responsible management practices that keep U.S. forests vibrant and healthy. We're also helping to increase the available supply of certified fiber which, in turn, allows us to keep our pledge to provide paper products that help our customers meet their own sustainability objectives," he says.

"Verso already uses a high percentage of fiber that's certified to credible forest management certification standards — about 70 percent, but the availability of certified fiber in the United States remains limited with only about 28 percent of privately owned U.S. land certified," explains Verso Senior Vice President for Sales, Marketing and Product Development Mike Weinhold. "With customer demand for certified paper products increasing significantly, it's vital that we do all we can to make sure the supply of certified fiber keeps pace."

The Forest Certification Grant Program builds on Verso's track record of successful forest certification expansion initiatives. In 2011, the company completed a two-year group certification project in partnership with several of its customers and other stakeholders that resulted in an additional 1.4 million certified acres in Maine. In 2009 and 2010, a Verso grant to the Trust to Conserve Northeast Forestlands resulted in 160,000 additional certified acres across six Northeast states. Verso regularly encourages certification through collaboration with state forestry associations and certification organizations, and through its relationships with private landowners.

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06.29.2012
RockTenn Publishes First Corporate Sustainability Report

RockTenn today released its inaugural Corporate Sustainability Report, which affirms the company’s long-standing commitment to sustainability and outlines its 2020 sustainability goals.

“RockTenn has been producing paper-based packaging from recycled materials since our founding in 1936,” said Jim Rubright, Chairman and CEO of RockTenn. “Our core business activities were founded on recycling products that create economic value by reusing materials otherwise bound for waste streams.

“Our belief is that our operations can be more than consistent with an environmentally sustainable planet. We can be part of the solution and have a net positive impact on the environment,” Rubright continued. “These formal sustainability goals are further evidence of our ongoing commitment to our environment, our people and our performance.”

RockTenn’s 2020 Sustainability Goals
Reduce energy use by 10 percent
Reduce greenhouse gas emissions by 10 percent
Reduce water use by 12 percent
Reduce solid waste by 15 percent
Achieve chain-of-custody certifications for 100 percent of facilities
Improve employee safety by 30 percent

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06.29.2012
USPS posts $2.1 billion loss for May

Despite steadying mail volume and revenue, the U.S. Postal Service reported a net loss of $2.1 million for the month of May, the eighth month of its fiscal year. The Postal Service has lost $10.1 billion year-to-date.

Total mail volume increased in May by 1.1% over the year-earlier period, to 13.1 billion pieces, with monthly revenue up 3.1%, to $5.3 billion. One other bright spot was shipping services, which saw volume double, to 274.8 million pieces, and a 40% boost in revenue, to $1.1 billion for the month.

Standard mail, used most often for commercial mailings, experienced a slight increase in volume. However, first-class mail continued to fall both in volume and revenue. Also, the Postal Service was obliged to pay $1.7 billion to prefund retiree health benefits and workers compensation for the month. Operating expenses rose 13.4%, driven by higher worker compensation costs and benefits.

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06.29.2012
American Media, Inc. Magazines on Google Play

Today, with the launch of magazines on Google Play, American Media, Inc. (AMI) is making 11 of its most popular titles available for purchase and reading on Android smartphones and tablets. Readers can buy single issues or subscribe to save on their favorite magazines, and enjoy digital magazines in full-color with interactive features, multimedia, reflowable text and a clickable table of contents.
In the Google Play store, you can browse and buy from a wide selection of magazines including AMI’s health, wellness, beauty, lifestyle and celebrity titles such as SHAPE, Men’s Fitness, OK!, Star, Fit Pregnancy, Natural Health, Muscle & Fitness, Muscle & Fitness Hers, Flex, Soap Opera Digest and Country Weekly. We’re making single issues of those titles available for 99-cents for a limited time to celebrate the launch of our magazines on Google Play.

“We’re very excited to offer our dedicated readers an easy and interactive way to enjoy our publications,” said David J. Pecker, AMI’s Chairman, President and CEO. “In the fast paced and ever evolving world of media it is paramount for AMI to provide our audience with the most innovative, easily accessible and up-to-date information platform as possible.”

Readers can buy new issues or back issues, subscribe and get free 14-day trial, and customize their reading experiences on their Android tablets or phones.

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06.29.2012
Premium Guitar Brand Fender Partners With FuturePlus

Market-leading guitar manufacturer Fender has selected FuturePlus, the award-winning customer publishing division of Future Publishing, to produce its new bi-annual magazine.

A match made in musical heaven, FuturePlus is working closely with Fender to produce the first issue of the glossy magazine that Fender fans everywhere will want to read, keep and collect.

At 92 pages long, the magazine is a tribute to the legacy of the iconic Fender brand and takes an insightful look at some of the stories and stars that lay behind the guitars.

Simply known as Fender Magazine, the publication is edited by former Metal Hammer editor Jamie Hibbard, who brings with him a raft of musical expertise. Inside the magazine, readers will find beautiful product shots and previews of the latest Fender kit, as well as engaging feature-length articles including an in-depth look at Kurt Cobain’s love affair with Fender guitars.
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06.29.2012
Media M&A Continues Growth in First Half 2012

A first-half 2012 media M&A report was released today by investment bankers The Jordan, Edmiston Group Inc. and sales activity and values jumped significantly over the same period last year. Overall, the number of deals was up 52 percent to 652 while value rose 49 percent to $32 billion for the period. Marketing services-related transactions continue to drive the market.

This growth in M&A comes in the midst of very challenging macro economic issues, JEGI points out. Unemployment is still high in the U.S., Europe is challenged and big IPOs are lackluster. Nevertheless, market forces are proceeding at a rapid pace with digital engagement, social media and, especially, mobile having a huge impact on media. Consequently, companies are scrambling to get up to speed to build out and/or acquire marketing services operations to keep up with the consumer transition to digital and mobile.

All of this is to say the Marketing Services category has once again led the way in both number of transactions and overall value, according to JEGI. By itself, Marketing and Interactive Services accounted for 40 percent of the first-half transactions and 27 percent of the value. Combine that with three other related categories—B-to-B and B-to-C Online Media and Technology and Mobile Media and Technology—and you have 79 percent of the deals and 75 percent of the value.

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06.29.2012
NewPoint Media Acquires Six Media Brands and Printing Facility from Network Communications

NewPoint Media Group, LLC, a new company formed by two senior managers at Network Communications Inc., has acquired six of NCI’s major real estate brands as well as that company’s printing facilities.

The new company, with NCI executives Scott Dixon and Stuart Christian as CEO and president, respectively, partnered with the private-equity firm Lion Equity Partners in the transaction. NCI is based in Lawrenceville, Georgia.

Included in the deal are the Real Estate Book, Mature Living Choices, Senior Living Choices, New Home Finder, New Homes & Ideas, and New Homes Journal brands, along with NCI’s publication printing division and facilities.

NCI, controlled by Beachpoint Partners, retains the assets associated with Apartment Finder, Unique Homes, ByDesign Publishing, along with home design titles and Digital Sherpa division.

NCI and NewPoint will continue to have an ongoing business relationship. NCI will provide distribution services to NewPoint while NewPoint provides printing services to NCI.

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06.29.2012
Domtar unveils 2020 sustainabilty indicator framework

Domtar Corporation today released its 2011 Sustainable Growth Report, unveiling 35 key performance indicators that will shape the company's sustainability efforts out to 2020. This sustainability framework builds on years of industry leadership in forestry certification, mill-level environmental performance and longstanding ENGO collaborations.

This year also marks the first time Domtar is issuing a level-checked "B" Global Reporting Initiative (GRI) report, as well as the first time that outside perspective from sustainability experts in the private sector and civil society is being featured.

"The release of a key performance indicator framework is an important milestone in our long-term sustainability strategy," noted John D. Williams, Domtar President and Chief Executive Officer. "By addressing sustainability in a systematic way we are making this company more resilient, better able to seize opportunities for innovation and growth, as well as more open to constructive input from our shareholders, customers, suppliers, and environmental partners. All of this supports our evolution from papermaker to fiber innovator that positions us for success over the long term."

For more information please visit the Sustainability section of www.domtar.com

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06.29.2012
BC Court approves Catalyst Paper reorganization plan

Catalyst Paper Corporation received approval today for its reorganization plan from the Supreme Court of British Columbia. The company’s second amended plan under the Companies’ Creditors Arrangement Act (the Amended Plan) received 99 per cent support from creditors at meetings held earlier this week.

Court approval of the reorganization plan comes only five months following Catalyst Paper’s entry into creditor protection on January 31, 2012. A confirmation hearing under the Chapter 15 process of the United States Bankruptcy Court for the District of Delaware (the US Court) is expected to occur in mid-July. Approval from both courts is required before the company can complete its reorganization.

“Today’s court order is a major milestone in our drive to emerge from creditor protection efficiently and quickly,” said President and Chief Executive Officer Kevin J. Clarke. “We said from the outset that our objective was to put our company on stronger financial footing for the future and we are proceeding at a rapid pace to do just that. We’re in discussion now with lenders to secure the necessary exit financing and expect to complete the reorganization process in the near term.”

The Court also authorized and directed Catalyst to take all actions necessary to implement the Amended Plan and Catalyst is working towards implementation. Implementation of the Amended Plan is subject to a number of conditions, including the company obtaining an order of the US Court recognizing that the Sanction Order is in full force and effect in the United States and that Catalyst Paper shall have entered into agreements with respect to a new ABL Facility and, if necessary, Exit Facility, satisfactory to the Majority Initial Supporting Noteholders, in consultation with the Initial Supporting Unsecured Noteholders.
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06.29.2012
Top Bonnier Titles Now Available on Google Play

Bonnier Corp.'s most popular brands, including Popular Science, Saveur, Parenting and Islands, are now available for purchase with the launch of magazines on Google Play. Google Play is a digital entertainment destination where you can find, enjoy and share your favorite music, movies, books, apps … and now magazines.

The agreement between Bonnier and Google allows readers using their Android smartphones and tablets to purchase single issues or subscribe to more than 35 Bonnier brands.

To celebrate the launch of its top magazines on Google Play, readers can purchase an issue of some of their favorite Bonnier titles for only 99 cents. Titles available for this limited-time offer include: Popular Science, Saveur, Parenting, Islands, Popular Photography, Flying, Sport Fishing, TransWorld SKATEboarding, TransWorld Ride BMX, TransWorld Surf and TransWorld Motocross.

"This new partnership with Google expands our commitment to giving our customers access to our brands anytime, any place and anywhere. We're thrilled that they now can enjoy their favorite Bonnier magazines on Google Play on Android smartphones and tablets," said Terry Snow, CEO of Bonnier Crop.

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06.29.2012
AAA Fuel Gage & Exchange Rates

AAA’s Fuel Gage Report as of 6/29/12
National Unleaded Regular:
Current Average - $3.353/gallon
Month Ago Average - $3.626/gallon
Year Ago Average - $3.543/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $3.670/gallon
Month Ago Average - $3.934/gallon
Year Ago Average - $3.911/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08

Current Exchange Rates as of 6/28/12
American Dollar to Canadian Dollar = 0.972895 (120 day high - 1.01905 on April 26, 2012; low 0.961252 on June 5, 2012)
American Dollar to Chinese Yuan = 0.157272 (120 day high – 0.159363 on May 2, 2012; low 0.156858 on June 8, 2012)
American Dollar to Euro = 1.2418 (120 day high - 1.3454 on February 28, 2012; low 1.2322 on June 1, 2012)
American Dollar to Japanese Yen = 0.0125943 (120 day high – 0.0131387 on February 2, 2012; low 0.0119026 on March 21, 2012)
American Dollar to Mexican Peso = 0.0733891 (120 day high – 0.0793808 on March 14, 2012; low 0.0691788 on June 1, 2012)

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06.29.2012
Oil Rises From Nine-Month Low on Supply, Europe Measures

Oil rebounded from the lowest close in almost nine months in New York on speculation that European measures aimed at fighting the region’s debt crisis will spur demand for fuel.

Crude increased as much as 3.2 percent, trimming the biggest quarterly decline since the final three months of 2008. Oil gained after euro-area leaders agreed to relax conditions on emergency loans for Spanish banks and possible help for Italy. Prices may advance after the European Union’s ban on the purchase, transport, financing and insurance of Iranian crude starts on July 1, a Bloomberg survey showed. Norway’s first industrywide energy strike since 2004 is in its sixth day.

“Eased liquidity is good for the oil price and that is the key influence right now,” Torbjoern Kjus, an oil analyst at DnB ASA (DNB), said by phone from Oslo. Tightening sanctions on Iran are a “wildcard,” he said.

Oil for August delivery increased as much as $2.48 to $80.17 a barrel in electronic trading on the New York Mercantile Exchange and was at $80.15 at 11:50 a.m. London time. The contract yesterday plunged $2.52, or 3.1 percent, to $77.69, the lowest close since Oct. 4.

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06.29.2012
American Greetings Announces First Quarter Earnings

American Greetings Corporation today announced its results for the first fiscal quarter ended May 25, 2012.

For the first quarter of fiscal 2013, the Company reported total revenue of $393.1 million, pre-tax income of $10.4 million and net income of $7.3 million or 20 cents per share (all per-share amounts assume dilution). Revenue was reduced by $1.4 million as a result of scan-based trading conversions that occurred during the quarter. The pre-tax income impact of the scan-based trading conversions was $1.0 million (after-tax $0.6 million, reducing earnings per share by about 2 cents). The Company also incurred pre-tax costs of $2.1 million (after-tax $1.3 million, reducing earnings per share by about 4 cents) associated with the termination of a contract within the Company's intellectual property licensing group.

Also during the first quarter, on May 9, 2012, the Company announced the acquisition for approximately $56.6 million of the senior secured debt of Clinton Cards PLC ("Clinton Cards"), one of the largest specialty retailers of greeting cards in the United Kingdom ("U.K."). Subsequently, Clinton Cards was placed into administration, a procedure similar to Chapter 11 bankruptcy in the United States, which gives the company, under the control of its administrators, an opportunity to restructure its business.

The Company subsequently announced, on June 7, 2012, the acquisition of assets of Clinton Cards, including approximately 400 stores and related overhead as well as the Clinton Cards and related brands. The impacts of this transaction will be reflected in the second quarter of fiscal 2013.

For the first quarter of fiscal 2012, the Company reported total revenue of $403.7 million, pre-tax income of $50.8 million, and net income of $32.6 million or 78 cents per share. Revenue was reduced by $1.9 million as a result of scan-based trading conversions that occurred during the quarter.

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06.29.2012
Meredith Joins Google Play To Expand Digital Edition Offerings

Meredith Corporation today announced that it is offering digital editions of its most popular magazines, including such well-known titles as Family Circle, EveryDay with Rachael Ray, Ladies' Home Journal, Midwest Living and MORE, as magazines on Google Play.

On Google Play, consumers will be able to purchase a wide selection of magazines covering a variety of lifestyle interests — including fashion, food, travel, health, family and home decor — on Android smartphones and tablets. Single issues of Meredith titles will be available for just 99 cents for a limited time during the launch.

On Google Play, consumers can buy new or back issues of magazines and customize their reading experiences on their Android tablets or phones. Purchased magazines will be stored and accessible using cloud technology, enabling consumers to keep their favorite titles organized and easily browsed in a digital carousel. They will then be able to access these titles using the Google Play Magazines app for Android devices.

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06.28.2012
News Corporation Announces Intent to Pursue Separation of Businesses to Enhance Strategic Alignment and Increase Operational Flexibility

News Corporation today announced that it intends to pursue the separation of its publishing and media and entertainment businesses into two distinct publicly traded companies. Upon closing of such a transaction, shareholders would hold interests in a world-class publishing company, consisting of the largest collection of best-in-class publishing assets and a new digital education group, and an unmatched global media and entertainment company, each of which would benefit from enhanced strategic alignment and increased operational flexibility with respect to an unparalleled portfolio of assets, brands and franchises.

News Corporation's Board authorized management to explore this separation after a Board meeting yesterday.

The proposed transaction would create global category leaders in both publishing and entertainment: a publishing company, which would be comprised of News Corporation's newspapers and information businesses in the U.S., U.K., and Australia, the Company's leading book publishing brands, its integrated marketing services company, its digital education group, as well as its other assets in Australia; and a global media and entertainment company, which would encompass News Corporation's broadcast and worldwide cable networks, leading film and television production studios, television stations and highly successful pay-TV businesses in Europe and India.

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06.28.2012
Google Opens Android Mag Newsstand, Brands Rush In

Magazines have embraced the iPad but generally dissed the Google Android OS. Google wants to change that will the opening of Magazines on Google Play. With scores of titles across many of the major publishing houses on tap for this launch, the section lets the user buy a magazine on the Web and view it on any Android device. The cloud-based approach gives this newsstand certain advantages over the Apple Newsstand, in that users should be able to pick up a magazine where they left off across devices.

The downside of course is that there aren’t many credible Android tablets on the market to appreciate the facsimile books at scale. From what we could tell in the early going, most of the titles are unenhanced facsimile editions of print that offer tap and pinch zooming and a reading mode that extracts texts. The design appears optimized for smartphones, which constitute almost all of the Android OS’s massive base. The catalog does include an “Interactive” icon on many titles that appears to designate editions that offer more than straight ports of print content.

Publishers were ready to participate. Bonnier is leveraging the new digital store’s pricing flexibility to offer 99-cent trials on some titles for a library of 35 they say will be available. Rodale too will be offering select recent issues of its books in Google Play for 99-cents. Hearst announced all 20 titles for the platform and Meredith says most of its portfolio will be here. Conde Nast’s Wired is here as is Newsweek, Entrepreneur, Game Informer, Forbes, Atlantic and Maxim. A number of titles were leveraging the 99-issue offer.

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06.28.2012
Hearst Magazines to Offer All 20 of its Titles on Google Play

With today’s launch of magazines on Google Play, Hearst Magazines, one of the world’s largest publishers of monthly magazines, announces that all 20 of its popular magazine brands are now available for purchase and reading on Android smartphones and tablets. Readers can buy single issues or annual subscriptions to Hearst titles such as Cosmopolitan, ELLE, Esquire, the newly launched HGTV Magazine and Marie Claire, and enjoy digital magazines in full-color with a clickable table of contents.

Hearst will offer single copies of select titles—Esquire, ELLE, Good Housekeeping, House Beautiful and Seventeen—at $0.99 for a limited time to celebrate the launch of its magazines on Google Play. Four Hearst magazines—ELLE DECOR, Harper’s Bazaar, House Beautiful and Popular Mechanics—will have interactive editions on Google Play, fully optimized for the tablet experience, with enhanced features such as video, tap-to-view large images and scrolling text. ELLE DECOR, Harper’s Bazaar and House Beautiful will make their interactive debuts on Google Play.

“We’re thrilled to be partnering with Google on the launch of magazines on Google Play and that we’ll have every one of our titles available, several of which will offer interactive features that really bring the pages to life,” said Chris Wilkes, VP of the Hearst App Lab. “This development dovetails with our philosophy at Hearst to make our magazines available to consumers on every tablet and digital newsstand platform.”

Readers can buy new issues, back issues and subscriptions to customize their reading experiences on their Android tablets or phones. Purchased magazines will be stored and accessible in-the-cloud, meaning you can keep your magazine stacks organized and easily browsed in a digital carousel, then pick up and flip through them wherever you are using the Google Play Magazines mobile app for Android devices.

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06.28.2012
Freedom Communications Announces Sale of Florida, North Carolina Properties Has Closed

Freedom Communications announced today that the sale of all of its newspaper properties in Florida and North Carolina to Halifax Media Group has closed.

The properties involved in the transaction include Holmes County Times-Advertiser, Bonifay, FL; Times-News, Burlington, NC; Havelock News, Havelock, NC; The Daily News, Jacksonville, NC; Free Press, Kinston, NC; The Star, Port St. Joe, FL; The Walton Sun, Santa Rosa Beach, FL; Washington County News, Chipley, FL; The Crestview News Bulletin, Crestview, FL; The Destin Log, Destin, FL; Northwest Florida Daily News, Fort Walton Beach, FL; The Gaston Gazette, Gastonia, NC; Jones Post, Kinston, NC; Santa Rosa Press Gazette and Santa Rosa Free Press, Milton, FL; Sun Journal and The Shopper, New Bern, NC; The News Herald, Panama City, FL; The Star, Shelby, NC; The Times, Apalachicola, FL and The Topsail Advertiser, Surf City, NC.

"Providing value for our shareholders was a major goal of this transaction and the others weâ€™ve undertaken," said Mark McEachen, Freedom Executive Vice President, Chief Operating Officer and Chief Financial Officer. "At the same time we wanted to make sure current employees would transition to the new owner and that the new owner shared our view of the importance of community journalism."

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06.28.2012
Oil Declines on Speculation EU Outlook Will Worsen

Oil declined in London for the first time in five days amid speculation that the European Union’s economy will fail to grow, as the region’s leaders gathered in Brussels for a two-day summit.

Brent crude fell as much as 1.2 percent as the EU continued to battle the financial crisis that claimed Cyprus this week as its fifth victim. The euro reversed an advance against the dollar and European equities declined as Germany reported that unemployment in the euro region’s biggest economy rose for a fourth month this year. The U.K. remains in recession after reporting today a 0.3 percent decline in gross domestic product in the last quarter.

“The oil price is a reflection of the market’s expectation that there will be no growth in Europe for the next few years,” said Michael Hewson, analyst at London-based CMC Markets UK Plc who predicts Brent may fall as low as $76 a barrel in the next six months. “Although Iran could provide potential for prices to move higher in the short term, the overall outlook is down, based on the lack of economic growth.”

Brent oil for August settlement fell as much as $1.09 to $92.41 a barrel and was at $92.82 at 10:58 a.m. on the London- based ICE Futures Europe exchange.

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06.28.2012
Bertelsmann strengthens its presence in South America

The international media company Bertelsmann is accelerating its expansion in the world’s growth regions: Thomas Rabe, Chairman & CEO of Bertelsmann AG, officially opened the Group’s new Corporate Center in the Brazilian city of São Paulo yesterday evening. The Corporate Center will be the contact point for the expansion of Bertelsmann's operations in South America. Earlier this year, in February, the media company had opened a new Corporate Center in India, and Bertelsmann has had one in China since 2006.

Bertelsmann’s Chairman & CEO Thomas Rabe stated: “Our new office in Brazil will strengthen Bertelsmann’s international network. It is crucial to have a central anchor in the three most important future markets for us – China, India and Brazil. The new Corporate Center will help to further develop our existing activities in this region and expand them into new businesses – for example, in the fields of education and digital media.”

Bertelsmann has already been active in South America for some time through its divisions. RTL Group’s production arm Fremantle Media currently sells a variety of popular formats here such as “Idol” and “The Apprentice.” The book-publishing subsidiary Random House Mondadori has operations in Argentina, Chile, Mexico, Colombia, and Uruguay. Gruner + Jahr owns three Motor-Presse offshoots in Argentina, Mexico and Brazil, and G y J Televisia in Mexico. Arvato operates across South America in fields including distribution services, service centers and print. In total, Bertelsmann employs approximately 3,000 people in South America.

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06.28.2012
Amcor Announces the Purchase of Wayne Richardson Sales

Amcor announces today the purchase of Wayne Richardson Sales. With sales of approximately $50 million and over 2,700 customers the business is one of the largest independently owned packaging distributors in Australia with a network of eight distribution centres across Australia.

The business is a distributor of a broad range of industrial packaging and packaging consumables to small and medium size customers.

The purchase multiple was approximately 6.5 times fiscal year 2012 EBITDA and the acquisition is expected to deliver returns in excess of 20% by year three.

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06.27.2012
Japan's Hokuetsu to take 20 pct stake in Daio Paper

Japan's Hokuetsu Kishu Paper Co Ltd said on Tuesday it will raise its stake scandal-hit rival Daio Paper Corp's to 19.6 percent from 2.86 percent to join forces to weather dwindling paper demand.

Hokuetsu, Japan's No.5 paper products maker, said it plans to buy shares held by Daio's founding family as well as other shareholders. The share purchase will raise Hokuetsu's stake in terms of voting rights to 22.12 percent, making it the top shareholder in Japan's No.4 paper maker.

Daio has been struggling to cut ties with its founding family after it discovered that former Chairman Mototaka Ikawa had gambled away billions of yen he borrowed from Daio Paper group companies.

Hokuetsu and Daio would together make Japan's third-biggest paper manufacturing group by sales, after Oji Paper Co and Nippon Paper Group Inc.

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