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09.05.2012
Flint Group Narrow Web introduces an improved CombiScreen ™ , UV rotary screen inks designed specifically for combination printing and formulated for extreme overprint-ability. These press ready-inks are ideal for combination printing with all narrow web ink technologies and can be used on all types of substrates. CombiScreen ™ is a silicone-free ink system – as a result, printers will experience perfect combination print results with virtually any print process.
Combiscreen ™ is developed for use in rotary screen systems and will produce high color strength for an improved end result. With CombiScreen ™ , converters will achieve the best print quality obtainable with UV screen printing – great dot sharpness, excellent flow, excellent adhesion, great combination printing and faster cure. This is the ink of choice for complex combination printing applications. These inks are perfect for beverage, health and beauty, and no-label-look applications.
CombiScreen ™ is available in the full range of Pantone Ò colors, including a full range of high resistance pigments. As always, Flint Group Narrow Web will gladly match any special custom colors.
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09.05.2012
Silgan Holdings Inc., a leading supplier of rigid packaging for consumer goods products, today announced that it has completed its acquisition of Rexam PLC’s plastic thermoformed food business.
This business will be reported as part of the plastic container segment and will operate under the name Silgan Plastic Food Containers. With anticipated 2012 revenues of $100 million, this business produces both barrier and non-barrier bowls and trays for the shelf-stable food markets.
The purchase price for this business (including preliminary post-closing adjustments) was $248.1 million. The Company funded the purchase price for this acquisition from cash on hand. The Company expects this business to be neutral to earnings in 2012 principally due to the initial inventory write-up required for accounting purposes, but expects this business to be modestly accretive to earnings for the full year 2013.
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09.05.2012
RockTenn and DS Smith yesterday announced that they have entered into a strategic alliance, executing a licensing agreement that gives RockTenn the exclusive rights to manufacture and distribute proprietary corrugated packaging designs and to distribute innovative packaging equipment in the United States of America.
According to DS Smith, the new Meta® technology produces a wide range of two-piece Shelf Ready Packages that enable multinational package goods companies to meet the varied requirements of US retailers. Unique predictive software and stacking devices also optimize and reduce packaging weight and minimize environmental impact.
"The RockTenn team is tenaciously focused on delivering industry-leading innovation in packaging solutions for our customers," said RockTenn's Corrugated Packaging President, James Porter. "This exciting technology brings new opportunities to reduce the total cost of packaging and to improve print options to better sell our customer's products and do so in a more sustainable fashion."
"This alliance with RockTenn brings the advantages and value of our patented technology to a wider audience, and allows us better to serve our global customers," said DS Smith Group Chief Executive, Miles Roberts.
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09.05.2012
Papierfabrik August Koehler AG announces a price increase for thermal paper by 5% effective October 15, 2012 due to continued strong demand and increased input costs. The price increase will apply to customers globally.
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09.05.2012
The Forest Products Association of Canada (FPAC) is today welcoming new leadership as David Lindsay assumes the role of President and CEO at a time of great transformation in the Canadian forestry sector.
“We are delighted to welcome someone of David’s caliber and experience,” said the Chairman of the FPAC Board of Directors, Jim Lopez, the President and CEO of Tembec. “He is the ideal person to build on the extraordinary momentum in our industry as it continues to become more innovative, more environmentally friendly and more global in its reach.”
Lindsay was most recently a senior Deputy Minister in the Government of Ontario serving in the portfolios of Energy and Infrastructure, Northern Development, Mines and Forestry, Natural Resources, Tourism and Culture. Before this, he served as President and CEO of the Association of Colleges of Applied Arts and Technology of Ontario. Lindsay was the founding President of the Ontario SuperBuild Corporation and the Ontario Jobs and Investment Board. He also served as Principal Secretary and Chief of Staff to the Premier of Ontario.
“I look forward to working in such a progressive industry association with its clear vision of its future,” says Lindsay. “There are extraordinary opportunities as well as challenges in the forest products sector and I am keen to help the industry reach its potential.”
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09.05.2012
FiberMark, a global leader in manufacturing innovative, fiber-based specialty covering materials for world-leading brands, has launched a new decorative product line that offers a remarkable array of unique benefits to designers, converters and manufacturers.
Called “LaCrema™,” the extremely unique new line of FSC®-certified, fiber-based material featuring a high loft coating was developed in response to customers’ desires for a more durable, resilient, yet exceptionally lush covering for premier applications. LaCrema also answered customer preferences for more environmentally friendly material with superior processing characteristics to its industry counterparts.
Developed with ground-breaking, patent-pending technology by a team of multi-disciplinary scientists and engineers at FiberMark’s impressive R&D lab in West Springfield, Mass., LaCrema is hitting the marketplace with some very promising results.
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09.05.2012
Cascades Inc., a leader in the recovery and manufacturing of green packaging and tissue paper products, announces that it has entered into an agreement with its banking syndicate to extend and amend certain conditions of its existing $750 million revolving credit facility.
The amendment provides that the term of the facility will be extended by one year to February 2016 and that the applicable pricing grid will be adjusted to better reflect market conditions. As a result, outstanding borrowing costs will be reduced by 37.5 basis points at the Corporation's current credit rating. The other existing financial conditions will remain unchanged.
According to Mr. Allan Hogg, Vice-President and Chief Financial Officer: "We are pleased with the continued commitment from our banking syndicate which unanimously supported the proposed amendment. This vote of confidence represents one more step in our ongoing efforts to improve our financial performance and flexibility. Not only will we benefit from a lower cost of borrowing, with cash availability standing at approximately $300 million as well as no significant debt maturity until 2016, I am confident that we have the resources necessary to continue executing our strategic plan.”
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09.05.2012
Oil fell for a second day amid signs that the global economy is struggling, while European Central Bank policy makers prepare to discuss measures to stem the bloc’s debt crisis.
Futures fell as much as 0.6 percent after slipping 1.2 percent yesterday, the most since Aug. 2. Australia’s economy slowed last quarter on weaker housing and rising imports, according to the country’s Bureau of Statistics. U.S. manufacturing slid for a third month in August, the Institute for Supply Management’s factory index said yesterday, adding to contractions in Europe and China. The ECB’s Governing Council will decide tomorrow on a bond-buying proposal that President Mario Draghi says is necessary to ensure the euro’s survival.
“The debt crisis is still a big risk factor,” said Sintje Boie, an analyst at HSH Nordbank in Hamburg who correctly predicted oil’s rebound in July. “Looking at the world economy, there’s no reason to have oil prices of $120,” said Boie, who forecasts Brent crude will fall toward $105 by year-end.
Oil for October delivery was at $95.11 a barrel, down 19 cents, in electronic trading on the New York Mercantile Exchange at 11:36 a.m. London time. The contract decreased $1.17 yesterday to close at $95.30, the lowest level since Aug. 30.
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09.05.2012
3M and Avery Dennison Corp. issued the following statement in response to a news release from the U.S. Department of Justice (DOJ) regarding 3M’s proposed acquisition of Avery Dennison’s Office and Consumer Products business:
“3M and Avery Dennison have not terminated the purchase agreement governing the transaction. In light of concerns about the transaction raised by the DOJ, the companies have voluntarily withdrawn the notification and report forms filed under the Hart-Scott-Rodino Act.
“The companies continue to believe the transaction would benefit customers and consumers. 3M and Avery Dennison are committed to working together to explore options to address the DOJ’s concerns, obtain regulatory approval, and complete a transaction between the parties.”
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09.05.2012
Verso Paper Corp. announced today that it has decided to cease further discussions with NewPage Corporation or its creditors regarding a potential business combination. Verso President and CEO David Paterson commented, "After careful analysis, we believe it is in the best interests of our company and its stakeholders to focus on the many other opportunities for Verso, including internal growth projects and other potential strategic alternatives."
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09.05.2012
Ahlstrom, a global high performance materials company, has today signed an agreement to acquire the Sweden-based Munktell Filter AB as a strategic step to grow the advanced filtration business particularly in life science and laboratory applications.
Under the agreement, Ahlstrom will acquire 100 percent of the shares in Munktell Filter AB, as well as its holdings in Munktell & Filtrak GmbH, Filtres Fioroni SA and Munktell Inc. The enterprise value of the transaction is approximately EUR 20 million, including the planned subsequent buyouts of minority interests. Through the transaction, Ahlstrom will become a global leader in life science and laboratory media filtration.
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09.05.2012
UPM offers FSC certification as a forest service to private forest owners in Finland. UPM has been granted an FSC group certificate, which enables UPM to group certify Finnish private forests and community forests in accordance with the Finnish FSC standard that came into effect last year.
Forest owners can obtain an FSC certificate for their forests by joining the UPM group certificate. For forest owners, this is an easy way of ensuring that their forests are managed and used in a responsible and economically viable way. The first forest certification service contracts between UPM and private forest owners have already been signed. The FSC group certificate also covers the jointly-owned forests established by UPM.
"The FSC certification of privately owned forests enables UPM to widen its range of certified products. The FSC certified raw material acquired from Finnish forests can also be used to partly replace imported wood at Finnish mills," says Vice President Pekka Rajala, Wood Sourcing, North Europe.
UPM has experience of FSC certification from its own forests. Last year, UPM was granted a forest-owner-specific FSC certificate that covers the company's forests in southern Finland. UPM also offers FSC forest certification as a forest service in Uruguay and the UK. All UPM forests worldwide are certified.
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09.05.2012
InnerWorkings, Inc., a leading global marketing supply chain company, announced today the results of its first-ever business and economic outlook study. The study reveals the attitudes and perceptions of U.S.-based printing manufacturers in regards to the economy, hiring expectations and business performance. The findings of the study provide up-to-date insights for print manufacturers, software suppliers, integrators and other companies that have an interest in the U.S. print market.
“Print manufacturing is a massive industry, generating annual revenue of more than $144 billion in the U.S. alone*,” said John Eisel, COO for InnerWorkings. “It is an industry that remains highly relevant in today’s business landscape, and our goal in commissioning this study is to keep our finger on the pulse of this often overlooked yet important sector of the economy.”
A sample of more than 3,300 representatives from InnerWorkings’ network of the leading printing manufacturers was asked to participate in the online survey, from which nearly 1,100 responses were received. The results demonstrate that manufacturers are generally optimistic about the economy, but cautiously so. Fifty-six percent of respondents believe the economy is staying about the same. Twenty-seven percent believe the economy is improving, compared to just 17 percent who believe the economy is declining.
In terms of business performance, manufacturers are more confident. Forty-seven percent of respondents expect their company’s sales to increase, compared to just 3 percent who expect sales to decline. Similarly, the vast majority of respondents – 82 percent – expect to hire or keep their payrolls stable.
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09.05.2012
Economic concerns and anticipation of continued higher expenses pushed the Discover U.S. Spending Monitor to its lowest level of the year in August, declining 0.7 points from July to 88.6. The Monitor is a 5-year-old daily poll tracking economic confidence and spending intentions of nearly 8,200 consumers throughout the month. August marked the third consecutive monthly increase for those believing the economy is getting worse.
While the number of respondents reporting the U.S. economy as poor leveled out from June to July, 56 percent of respondents ranked the economy as poor in August. This was the highest level since January 2012.
Respondents with children who view the economy as poor increased 7 percentage points from July to August to 58 percent. Respondents without children viewing the economy as poor remained unchanged at 54 percent.
There was an 8-percentage point increase to 50 percent in the number of consumers making $75,000 or more viewing the economy as poor. This compared with little change for those making between $40,000 and $75,000, poor rating declined 1 percentage point to 53 percent, and those making less than $40,000, poor rating increased 1 percentage point to 62 percent.
Respondents believing the economy is getting worse increased for the third straight month to 55 percent, up 2 percentage points from July and 11 points from March 2012.
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09.05.2012
OfficeMax® Incorporated, a leader in office supplies, technology and services, today announced that, as part of its participation today at the Goldman Sachs Annual Global Retailing Conference, it plans to reiterate its outlook for the third quarter and full year 2012.
"Despite an uncertain environment, we continue to make progress on our strategic initiatives and remain on track to achieve our third quarter and full year guidance for sales and operating margin," said Ravi Saligram, President and CEO of OfficeMax. "As previously mentioned, we continue to systematically address balance sheet simplification within the context of a comprehensive analysis of our overall capital structure. As part of this effort, certain participants in our legacy pension plans will be offered lump sum payouts, which will potentially lower the plans' liability and mitigate volatility in the level of funding."
In line with the company's previous guidance, OfficeMax anticipates that total company sales for the third quarter will be approximately flat, to slightly higher than, the third quarter of 2011, including the projected unfavorable impact of foreign currency translation. Additionally, OfficeMax anticipates that for the third quarter of 2012, adjusted operating income margin will be approximately in line with the 2.3% for the prior year period.
Also in line with the previous guidance, for the full year 2012, OfficeMax anticipates that total company sales will be approximately in line with the prior year, including the projected unfavorable impact of foreign currency translation in 2012 and excluding the additional week in 2011, which generated $86 million in sales. For the full year 2012, OfficeMax anticipates that adjusted operating income margin will be approximately in line with, to slightly higher than, the 1.7% for the prior year.
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09.04.2012
Please be advised that Irving Paper will increase its prices of Irving SCB, Irving SCA and Radiance (SCA+) $40/ST effective with all new and existing orders shipping on and after October 1st 2012. This increase affects all basis weights.
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09.04.2012
Please be advised that, effective October 1, 2012, US pricing on shipments from Catalyst Paper (USA) Inc. will increase as noted for the following grades:
Grade $US Price
Pacificote $3.00/cwt ($60.00/short ton)
Electracote Brite $3.00/cwt ($60.00/short ton)
Electracote $3.00/cwt ($60.00/short ton)
Electracal $2.00/cwt ($40.00/short ton)
Electraprime $2.00/cwt ($40.00/short ton)
Increase applies to all brightness, finishes, and basis weights.
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09.04.2012
UPM Raflatac has completed its acquisition of the labelstock business operations of Gascogne Laminates Switzerland of the Gascogne Group. The acquisition was announced on 1 June 2012. Gascogne Laminates Switzerland employs approximately 110 people in its operations in Martigny, Switzerland.
“UPM Raflatac has focused in recent years on growth in special labelstock products. As a result of this transaction we will strengthen our position in this product area in Europe,” says Tapio Kolunsarka, Senior Vice President, Europe, Middle-East and Africa.
UPM has today started employee consultations in Martigny in order to adjust the cost structure and organization of the factory to a sustainable level.
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09.04.2012
The Next Issue consortium of major magazine publishers is hoping to add even more value to its all-you-can-read digital edition model. The company has updated its iOS app to Version. 3.0.0. This update is in preparation for an expanded magazine catalog that will be available for customers over the next few days. While performance enhancement and bug fixes are being made, the core new feature will be many more magazines. According to the company, the new additions will bring the available titles to 72 on Sept. 6.
Next Issue finally released its tablet-ready app in spring of this year on Android tablets first and then in the last month to iOS. The app aggregates digital editions of scores of magazines for a single all-you-can-read prince of $9.99 a month for access to most titles and $14.99 a month for access to additional premium titles.
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09.04.2012
While there is some evidence that more major advertisers may look to trim ad dollars, three highly competitive categories appear to be moving in the other direction. Leaders in autos, noncarbonated beverages and consumer package goods (CPG) indicated spending would be up in their recent earnings calls, although not necessarily by large margins.
General Motors and Ford indicated that marketing spending would be up. Coke, PepsiCo and Dr. Pepper Snapple did the same.
Meanwhile, ad sellers doing heavy business in the CPG field had to be heartened with the list of companies suggesting increases: Procter & Gamble, Unilever, General Mills, Nestle, Kraft, Kellogg, Campbell Soup, Hershey, Kimberly-Clark and Reckitt Benckiser.
Many companies did not address marketing spending in their conference calls, such as Chrysler and Toyota, and Anheuser-Busch and MillerCoors.
In telecom, AT&T and Verizon offered no commentary, while Sprint indicated a decline is coming. In retail, Wal-Mart, Target and Kohl’s suggested increases, while JCPenney indicated a drop and Sears and Macy’s did not address the issue.
Outside traditional ads, companies continue to emphasize social media investment, particularly in the CPG and retail categories.
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09.04.2012
Oil climbed to the highest level in more than a week in New York on speculation that central banks will take more steps to boost economic growth, spurring demand for raw materials.
Futures gained as much as 0.9 percent from the Aug. 31 close. European Central Bank President Mario Draghi told officials yesterday he would be comfortable buying three-year government bonds to cut borrowing costs for nations in financial distress. Leaders are meeting in Rome and Berlin today, two days before the ECB holds its policy meeting. The U.S. Energy Department will release its weekly report on oil stockpiles and demand Sept. 6.
“Speculators are looking to bet that the ECB will deliver more stimulus,” said Michael Poulsen, an analyst at Global Risk Management in Middelfart, Denmark, who last month correctly predicted oil’s gains would stall. “It will be a balancing act for the ECB. In the oil market, the medium- and long-term trend remains for higher prices.”
Oil for October delivery increased as much as 90 cents to $97.37 a barrel in electronic trading on the New York Mercantile Exchange, the highest intraday price since Aug. 27, and was at $96.95 at 11:41 a.m. London time.
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09.04.2012
Three major publishers agreed Wednesday to pay $69 million in a settlement with states over e-book pricing. Hachette, HarperCollins and Simon & Schuster had previously agreed to settle in a suit brought by 49 states, the District of Columbia and four U.S. territories.
A separate case by the Department of Justice is ongoing.
The proposed settlement between the states and Hachette, HarperCollins and Simon & Schuster does not acknowledge any wrongdoing. The brief reads, in part, that the publishers “assert their actions were merely parallel, unilateral, or justified by market forces and completely legal. Settling Publishers also argue that their actions had procompetitive effects on the e-book market and that some E-book prices decreased after the adoption of the agency model.”
If the agreement is approved by the court, Hachette will pay $31,711,425, HarperCollins will pay $19,575,246, and Simon & Schuster will pay $17,752,480, Publishers Weekly reports. The agreement includes fees and other costs to be paid by the publishers.
What will consumers get? Those who purchased e-books between April 1, 2010, and May 21, 2012, that had been priced according to the agency model can expect refunds. Although the agency model had been put forward by Apple, other major e-book retailers, including Amazon and Barnes & Noble, priced their e-books accordingly.
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09.04.2012
AAA’s Fuel Gage Report as of 8/31/12
National Unleaded Regular:
Current Average - $3.829/gallon
Month Ago Average - $3.521/gallon
Year Ago Average - $3.617/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $4.090/gallon
Month Ago Average - $3.780/gallon
Year Ago Average - $3.885/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08
Current Exchange Rates as of 8/31/12
American Dollar to Canadian Dollar = 1.009493
American Dollar to Chinese Yuan = 0.157491
American Dollar to Euro = 1.258051
American Dollar to Japanese Yen = 0.012727
American Dollar to Mexican Peso = 0.075063
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08.31.2012
Effective with all orders shipping on or after October 1, 2012 FutureMark Paper Co. is increasing the transaction price of all Coated Groundwood publication grades.
This increase applies to:
Connection - $3.00/cwt ($60/short ton) for 76 Bright
Connection - $3.00/cwt ($60/short ton) for 80 Bright
Choice - $3.00/cwt ($60/short ton)
Choice/Book Matte - $3.00/cwt ($60/short ton)
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08.31.2012
Sappi Fine Paper North America announces a transactional price increase on new and unconfirmed orders with confirmed delivery dates on or after Monday, October 1, 2012 on the following coated groundwood grades:
A $3.00 per CWT US$/CAD$ increase on:
• Galerie Lite – all basis weights
• Galerie Brite – all basis weights
Standard differentials and upcharges apply. This price increase includes any private label programs.
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08.31.2012
Nordstrom, Inc. today reported August sales, which reflected a shift in timing of the Anniversary Sale event, historically the Company’s largest sale event of the year. The event started one week later in July compared with last year. As a result, eight days of the event occurred in August this year compared to one day in 2011. For the period of July and August 2012 combined, same-store sales increased 8.4 percent.
The Company reported a 21.0 percent increase in same-store sales for the four-week period ended August 25, 2012 compared with the four-week period ended August 27, 2011. Preliminary total retail sales of $866 million for August 2012 increased 25.2 percent compared with total retail sales of $691 million for the same period in fiscal 2011.
Year-to-date same-store sales increased 8.0 percent compared with the same period in fiscal 2011. Preliminary year-to-date total retail sales of $6.32 billion increased 12.1 percent compared with total retail sales of $5.64 billion for the same period in fiscal 2011.
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08.31.2012
Kohl’s Corporation reported today that for the four-week month ended August 25, 2012 total sales increased 5.3 percent and comparable store sales increased 3.4 percent over the four-week month ended August 27, 2011. Year to date, total sales increased 1.1 percent and comparable store sales decreased 0.6 percent.
The Company operates 1,134 stores in 49 states, compared to 1,097 stores at the same time last year. The Company will open 12 new stores in September.
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08.31.2012
Please be advised that, effective with shipments on or after October 1, 2012, Resolute Forest Products will raise its Coated paper prices by amounts specified below (see primary grades listed). The products impacted by the price increase include, but are not limited to, the following:
ResoluteGloss $60 US/st
ResoluteBrite 76 $40 US/st
ResoluteBrite 80 $40 US/st
ResoluteMax 84 $40 US/st
The increases will be applicable to all basis weights and finishes, and all up charges apply.
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08.31.2012
Kruger Inc. today announced a US$60 per ton (US$3.00 per cwt) transaction price increase in North America on all of its coated groundwood (CGW) paper grades, effective with shipments on or after Oct. 1.
The increase will apply to all weights and brightness levels.
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08.31.2012
Stein Mart, Inc. today reported comparable store sales for the four-week period ended August 25, 2012 increased 5.6 percent. Total sales for the period were $79.0 million, an increase of 6.9 percent from $73.9 million in the same period in 2011.
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08.31.2012
Gap Inc. today reported that August 2012 net sales increased 9 percent compared with last year.
Net sales for the four-week period ended August 25, 2012 were $1.20 billion compared with net sales of $1.10 billion for the four-week period ended August 27, 2011. The company’s comparable sales for August 2012 were up 9 percent compared with a 6 percent decrease for August 2011.
Year-to-date net sales were $8.26 billion for the 30 weeks ended August 25, 2012, an increase of 6 percent compared with net sales of $7.78 billion for the 30 weeks ended August 27, 2011. The company’s year-to-date comparable sales increased 4 percent compared with a 3 percent decrease last year.
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08.31.2012
Costco Wholesale Corporation today reported net sales of $7.40 billion for the month of August, the four weeks ended August 26, 2012, an increase of eight percent from $6.85 billion during the similar period last year.
For the first 52 weeks of its 53-week fiscal year ended August 26, 2012, the Company reported net sales of $95.12 billion, an increase of nine percent from $87.05 billion during the 52-week 2011 fiscal year.
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08.31.2012
Total revenue at Lagardere Publishing was roughly flat in the first six months of 2012, but EBIT fell 20%, to 57 million euros. Sales at the parent company of the HachetteBook Group rose to 905 million euros from 900 million euros, an increase due almost entirely to favorable currency exchange. In the U.S., sales were down 4% which Lagardere attributed to a weaker frontlist than the first half of 2011. Growth in e-book sales also slowed in the U.S., although e-book sales still increased 20% and accounted for 27% of sales in the U.S. in the first half of the year. E-books accounted for 23% of adult sales in the U.K. and 8.4% of all Lagardere Publising revenue in the period.
Lagardere attributed the decrease in profitability mainly to sluggish market conditions, especially in the U.S. and noted that while e-books are more profitable than print titles, for the group as a whole digital sales are not high enough to offset softness in the U.S. and U.K. Although Largardere made no mention of the impact of Hachette’s litigation/settlement charges in the e-book price fixing lawsuits on its first half profitability, results did include some costs.
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08.31.2012
Nippon Paper Industries Co., Ltd.(President: Yoshio Haga) has added a new lineup to its flagship Aurora S brand of lightweight coated paper, which will go on sale as the Aurora S Series.
All products in the Aurora S Series feature a base weight of less than 50g/m2, making a product range that has strong thin and lightweight properties. The features of the lineup are as follows.
- Aurora S: A wide selection of base weights from 45.0g/m2 to 60.2g/m2 as the standard product
- Aurora S Dull: A superior balance of understated texture and high paper thickness
- Aurora S Shade: Boasts high opacity despite the low base weight (achieves 90% opacity at 45.0g/m2 base weight)
- Aurora S Bright: Produces vibrant whiteness (84% brightness on par with high-grade coated paper) and high printing reproducibility
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08.31.2012
Millar Western Forest Products Ltd. announced today that it will proceed with construction of a $42 million bioenergy facility at its bleached chemi-thermo-mechanical pulp (BCTMP) mill at Whitecourt, Alberta.
The project will involve integration of anaerobic hybrid digesters (AHDs) into the BCTMP mill’s existing aerobic effluent treatment system. The AHD units will recover organic material from the pulp mill’s effluent stream and convert it to a biogas. After conditioning, the biogas will be used to fuel reciprocating engines, to generate 5.2 megawatts of renewable energy for use by the company’s pulp operations.
All required regulatory approvals are now in place, allowing the project to proceed immediately. Construction will begin in September 2012, with start-up slated for late 2013.
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08.31.2012
Mobile phone users are likely to become vocal and active detractors if they have a negative customer experience, according to a global study by the Chief Marketing Officer (CMO) Council.
Carriers should expect more visible complaints -- including defections -- from consumers made about bad experiences, hidden feeds and poor service quality, says the Palo Alto, Calif.- based CMO Council.
Only 34 percent of 1,660 mobile subscribers surveyed around the globe in the second quarter of 2012 are loyal to their carriers and have stayed with their current communications service provider for more than five years.
According to the Ricoh-sponsored study, dubbed "What's Critical in the Telecommunications Vertical," 41% of mobile phone subscribers say they will lodge a complaint about a poor experience, 36% will cancel their service, and 29% will tell everyone they know about the incident.
Only 29% of those polled across all age groups characterized themselves as loyalists. In contrast, a total of 41% of respondents said they were either apathetic, on the fence, or just about gone when it comes to the relationship with their mobile service operator.
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08.31.2012
As it has in other states, Amazon.com Inc. has refused to collect sales tax in Pennsylvania, contending that, despite operating physical facilities in the state, it was not required to collect tax under existing law. But that was before the state clarified in a tax bulletin last year that the law covered Amazon as well as other retailers and set a Sept. 1, 2012, date for compliance.
The Pennsylvania Department of Revenue issued a bulletin on Dec. 1, 2011, stating that all retailers would be required to collect sales tax on purchases by Pennsylvania residents if the merchants maintain any of a long list of physical operations in the state. They include distribution and fulfillment centers, warehouses, sales representatives or stores. The bulletin also clarified that such operations came under the state’s sales tax collection law whether or not they were part of a subsidiary owned by the retailer.
In effect, the bulletin asserted that the Pennsylvania law falls within the guideline set by the U.S. Supreme Court that says states can mandate sales tax collection only from retailers that maintain an in-state physical presence. The Pennsylvania law applies to all retailers regardless of annual sales, a spokeswoman for the revenue department says. She adds that the department had initially set a deadline of Feb. 1, 2012, to comply with the clarified law, but agreed to extend it to Sept. 1 after a large number of online retailers requested additional time to prepare for it.
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08.31.2012
The attorneys general of 54 states and territories announced yesterday they have reached an agreement with three publishing companies to settle an antitrust suit that alleges the publishers conspired to increase e-book pricing.
Under the terms of the agreement, publishers Hachette Book Group Inc., HarperCollins Publishers LLC and Simon & Schuster Inc. will pay more than $69 million to consumers who purchased e-books they and two other companies published between April 1, 2010, and May 21, 2012. The other two publishers are The Penguin Group Inc. and Macmillan, which is owned by Verlagsgruppe Georg Von Holtzbrinck GmbH and Holtzbrinck Publishers LLC. Those companies are not participating in the settlement and continue, along with Apple Inc., to litigate a related case filed in April by the U.S. Justice Department.
At issue in both cases is the so-called agency pricing model, which emerged in late 2009 and effectively put publishers in control of retail prices. That was in response to aggressive pricing by Amazon.com Inc., which, in order to promote sales of its market-leading Kindle e-book reader often priced bestsellers at $9.99, often below the wholesale price it paid publishers. The publishers feared that such a low price would put pressure on them to reduce prices on their printed volumes. Amazon.com is No. 1 in Internet Retailer’s Top 500 Guide.
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08.31.2012
Flint Group Print Media Europe’s operation in Sweden and Denmark has appointed Heidelberg as its exclusive distributor for industry leading brands: K+E sheetfed offset inks, Varn Press Room Chemicals and dayGraphica blankets.
The appointment of world leading sheetfed press manufacturer, Heidelberg, as an exclusive partner to Flint Group, the world’s only manufacturer of sheetfed offset inks, pressroom chemicals and sheetfed blankets, creates a very attractive proposition to customers of both companies in Sweden and Denmark.
The two companies are associated with high quality products, outstanding service and a commitment to press room excellence. This new partnership is therefore a fusion of similar business standards, which will improve the ease of access to these value propositions for both Heidelberg and Flint Group customers.
“We feel confident that our customers will benefit from this cooperation and recognise the advantages of having Heidelberg as the complete supplier of pressroom consumables from Flint Group,” states Flint Group’s Jonas Svensson, Commercial Director, Sheetfed Print, Nordic Region.
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08.31.2012
Oil headed for a second monthly increase, its biggest since February, as investors awaited a speech by Federal Reserve Chairman Ben S. Bernanke.
Futures were little changed after dropping to the lowest close in two weeks yesterday as producers worked to restore Gulf of Mexico output and refiners prepared to resume operations after Hurricane Isaac passed. Companies halted 95 percent of U.S. oil production in the Gulf and 73 percent of natural-gas output, the Bureau of Safety and Environmental Enforcement said yesterday. Chairman Ben S. Bernanke is scheduled to speak today at a symposium where in 2010 he foreshadowed economic stimulus measures by the bank.
“Bernanke is likely to outline the fact that the Fed has ‘options’ and is prepared to use them to stimulate the economy if necessary,” said Guy Wolf, a strategist at London-based commodities broker Marex Spectron Group Ltd. “Supply fundamentals have been tight for crude recently and there is no immediate sign of that slipping.”
Oil for October delivery was at $94.98 a barrel, up 36 cents, in electronic trading on the New York Mercantile Exchange at 10:36 a.m. London time. The contract yesterday dropped 0.9 percent to $94.62, the lowest close since Aug. 15.
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08.31.2012
The international media company Bertelsmann saw a major increase in its revenues during the first half of 2012. Operating EBIT once again reached a high level, and the Group result improved significantly.
Group revenues from continuing operations increased by 5.0 percent to €7.6 billion, after €7.2 billion for the corresponding period last year. Almost all divisions contributed to the increase in revenues. Excluding portfolio and currency effects, growth was 3.7 percent. At €731 million, operating EBIT from continuing operations almost reached the prior year’s high level. Return on sales came to 9.7 percent (H1 2011: 10.3 percent). Group profit improved significantly by €84 million or 31 percent, to €353 million (H1 2011: €269 million). The main reasons for this are the record operating profits at the Random House book publishing group, a lower negative impact from special items, and the absence of negative earnings from discontinued operations. Bertelsmann Value Added (BVA), which measures the profit realized above and beyond the cost of capital, reached €90 million in the first half of the year (H1 2011: €87 million).
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08.31.2012
Twitter has launched a developer certification program that it says will provide guidance to marketers about what social analytics tools are most effective.
Twitter's new Certified Products Program gives a seal of approval to a dozen companies that focus on analytics, engagement and data resale. Twitter said in its official blog that the program will help “companies looking for tools to help them engage with customers, understand what people are saying about them on Twitter and learn more about their followers so they can share more valuable, timely content.”
The initial developers certified by Twitter are: Attensity, Crimson Hexagon, Dataminr, DataSift, ExactTarget, Gnip Inc., HootSuite Media, Mass Relevance, Radian6, SocialFlow, Sprinklr and Topsy Labs.
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08.31.2012
Arctic Paper S.A., the second-largest European producer of bulky book paper and one of the leading producers of high-quality graphic paper, generated revenue during the first half of 2012 of over PLN 1.3 billion, up 8.3% on H1 2011, and an EBITDA of almost PLN 91.8 million—almost double the figure for H1 2011. Operating profit in H1 2012 was almost PLN 31.1 million and net profit was almost PLN 17.7 million. This can be compared to losses in H1 2011.
In the second quarter of 2012, demand for high-quality paper in Europe was down 3.8% on Q1 2012 and down 0.7% on Q2 2011. In Q2 2012, Arctic Paper’s sales were up 4.8% year-on-year but down 6.2% quarter-on-quarter. Orders remained stable during the second quarter.
The company’s utilisation of its production capacity in Q2 2012 was high, which at 98% was up 6.6 pp on Q2 2011 and 1.2 pp on Q1 2012. The average utilisation of production capacity over the previous 12 months was around 95%.
The Group is continuing measures already under way to cut costs and optimise the product line. No significant investment projects were commenced in Q2 2012 although projects begun in previous quarters to help the Group achieve greater profitability have continued.
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08.31.2012
Stora Enso Building and Living has today acquired UPM Kymmene’s 50% shareholding in the sawn timber trading company RETS Timber Oy Ltd. The acquisition makes Stora Enso Building and Living the sole owner of RETS Timber. The transaction is effective immediately.
RETS Timber is a leading European softwood sawn products supplier to the Middle East and North Africa.
“The Middle East and North Africa are very important markets for us due to increasing construction activity, and the acquisition of RETS shows our commitment to these markets. RETS customers will continue to have the most attractive product offering, a reliable supply and a specialised sales force, and for Nordic sawn timber producers RETS will continue to be the most cost-efficient marketing channel. What will change is that being the sole owner will enable us to further develop the RETS business together with our Central European trading business, focusing on the same markets,” says Hannu Kasurinen, EVP, Stora Enso Building and Living.
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08.31.2012
The Nova Scotia Supreme Court has approved Pacific West Commercial Corp.‘s request to spend $2 million to quickly restart the hot idled mill in Port Hawkesbury.
$500,000 will come from Pacific West Commercial Corp. and $1.5 million will be taken from the $15.8 million provincial fund that kept the mill in a hot idle state during restructuring.
The money will be used to ready the mill for a quick restart by bringing back workers, repairing equipment, and buying supplies.
Pacific West Commercial Corp. plans to recall about 300 employees in late September or early October, providing the Canadian Revenue Agency soon approves complicated tax arrangement between Pacific West Commercial Corp. and Nova Scotia Power.
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08.30.2012
Effective with all orders entered immediately and all orders shipping on or after October 1, 2012, Verso Paper Corp. is increasing the transaction price of all Coated Groundwood grades.
The increase applies to all Coated Groundwood grades, including but not limited to the following brands:
Brand Increase Amount
Liberty® $3.00/cwt ($60/short ton)
Advocate® $3.00/cwt ($60/short ton)
Advocate® EHB $3.00/cwt ($60/short ton)
Advocate® Roto $3.00/cwt ($60/short ton)
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08.30.2012
J.Crew Group, Inc. today announced financial results for the second quarter and first half of fiscal 2012.
On March 7, 2011, J.Crew was acquired by investment funds affiliated with TPG Capital, L.P. and Leonard Green & Partners, L.P. Although the Company continued as the same legal entity after the acquisition, last year's financial statements were prepared for the following periods: (i) March 8, 2011 to July 30, 2011 (Successor) and (ii) January 30, 2011 to March 7, 2011 (Predecessor). To facilitate a meaningful comparison of our results, we have presented a pro forma statement of operations for the first half of fiscal 2011, which reflects the combination of the Successor and Predecessor periods, giving effect to the acquisition and related transactions as if they occurred on the first day of the fiscal year. The results of the second quarter of fiscal 2011 have not been prepared on a pro forma basis, as the transaction was effective prior to the first day of the quarter.
Second Quarter highlights:
•Revenues increased 21% to $525.5 million, with comparable company sales increasing 14%. Comparable company sales increased 3% in the second quarter last year. Store sales increased 24% to $384.0 million. Store sales increased 5% in the second quarter last year. Direct sales increased 16% to $134.0 million following an increase of 13% in the second quarter last year.
•Gross margin increased to 45.1% from 36.5% in the second quarter last year. Last year included amortization of inventory step-up from purchase accounting of $22 million.
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08.30.2012
Coldwater Creek Inc. today reported financial results for the three-month period ended July 28, 2012.
Second Quarter 2012 Operating Results
• Consolidated net sales were $163.7 million, compared with $181.4 million in the fiscal 2011 second quarter. Net sales from the retail segment, which includes the Company's premium retail stores, factory outlet stores and day spas, were $129.9 million versus $142.2 million in the same period last year, primarily reflecting a decrease in comparable premium retail store sales of 6.5 percent. Sales from the retail segment were also impacted by 12 net store closures since the end of the second quarter of fiscal 2011 as part of the Company's store optimization program. Second quarter net sales from the direct segment, which includes internet, phone and mail orders, were $33.8 million, compared with $39.2 million in the same period last year.
• Consolidated gross profit increased $3.2 million to $48.5 million, or 29.6 percent of net sales, compared with $45.3 million, or 25.0 percent of net sales, for the fiscal 2011 second quarter. The 465 basis point increase in gross profit margin was primarily due to an increase in merchandise margin reflecting improved product performance and significantly lower markdowns as a result of overall lower inventory levels.
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08.30.2012
John Wiley & Sons, Inc., announced today its new membership of the Open Access Scholarly Publishers Association (OASPA). OASPA represents the interests of open access journal publishers globally in all scientific, technical and scholarly disciplines and enables exchange of information, setting standards, advancing models, advocacy, education, and the promotion of innovation.
“We are pleased to become members of OASPA,” said Rachel Burley, Vice President & Director, Open Access, Wiley. “We support the OASPA’s goals of sharing knowledge and best practice, and developing sustainable OA publishing models.”
Wiley has had an open access offering for authors since 2004 in the form of OnlineOpen, a hybrid open access model for subscription journals, which last month extended to over 80% of Wiley journals. OnlineOpen is available to authors of primary research articles who wish to make their article available to non-subscribers on publication, or whose funding agency requires grantees to archive the final version of their article.
In early 2011 Wiley launched Wiley Open Access, a fully open access journal program, which already contains eleven journals. Wiley Open Access provides open access publication in peer-reviewed journals where all published articles are immediately freely available to read, download and share.
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08.30.2012
The Bon-Ton Stores, Inc. today announced comparable store sales in the four weeks ended August 25, 2012 increased 2.2%. Total sales increased 2.1% to $180.8 million in the current year compared with $177.1 million in the prior year period.
Year-to-date comparable store sales decreased 0.3%. Year-to-date total sales decreased 0.4% to $1,416.4 million compared with $1,422.5 million in the same period last year.
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