Paperclips Blog | Sappi Results

  • 01.27.2012

    Cascades Tissue Group Launches First-Of-Its-Kind Unbleached, 100 Percent Recycled Bathroom Tissue

    North America's fourth largest producer of towel and tissue paper, Cascades Tissue Group today announced the launch of Cascades® Moka™ 100 percent recycled unbleached bathroom tissue, a first-of-its-kind product available to the Away-from-Home market in late August. Beige in appearance, Cascades Moka offers commercial purchasers the highest hygienic qualities and softness while significantly reducing the environmental impact associated with manufacturing a highly common, yet also single-use product. In addition to eliminating chemical whitening, Cascades' value-added tissue product is made of a pulp mix composed of 100 percent recycled fiber, 80 percent of which is post-consumer material and 20 percent are recovered corrugated boxes. The product is also offset with 100 percent Green-e® certified renewable wind electricity; saving 2,500 pounds of CO2 emissions for each ton produced.

    A detailed life cycle analysis (LCA) of the new pulp mix used in Cascades Moka, which was undertaken by the company, revealed a reduction in overall environmental impact by at least 25 percent when compared to the pulp mix used in the traditional Cascades 100 percent recycled fibre bathroom tissue. The latter had been regarded as the sustainable tissue exemplar in recent years but includes a chlorine-free whitening process for aesthetics.

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  • 01.27.2012

    Deluxe Reports Fourth Quarter 2011 Financial Results

    Deluxe Corporation announced its financial results for the fourth quarter ended December 31, 2011.

    Fourth Quarter 2011 Highlights: Revenue for the quarter was $366.4 million compared to $351.5 million during the fourth quarter of 2010. Revenue increased 4.2% compared to 2010, with growth in Small Business Services more than offsetting declines in the personal check businesses.

    Gross margin was 64.5 percent of revenue compared to 64.0 percent in 2010. Favorable impacts from price increases and the Company’s continued cost reduction initiatives more than offset increased material costs and delivery rates in 2011.

    Operating income in 2011 was $74.0 million compared to $60.9 million in the fourth quarter of 2010. Restructuring and transaction-related costs were $3.1 million in 2011 versus $7.8 million in 2010. The 2011 costs were primarily attributable to the Company’s on-going cost reduction initiatives. Results for 2011 also included an asset impairment charge of $1.2 million related to a vacant facility. Operating income was 20.2 percent of revenue compared to 17.3 percent in the prior year driven primarily by the increase in Small Business Services revenue.

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  • 01.27.2012

    Mobile Action Codes Increased 439 Percent in Top 100 Mags Last Year

    Mobile action codes, which include 2D barcodes, QR codes, Microsoft Tags and watermarks, have seen a tremendous uptake in magazine media in the last year. According to a recent study by mobile marketing firm Nellymoser, the top 100 magazines by circulation increased usage of the codes by 439 percent between the first and fourth quarters.

    According to the study, there were 352 codes appearing in the top 100 titles in Q1, which increased to 1,899 in Q4—a total of 4,468 action codes appeared during the year.

    Advertisers accounted for the vast majority of the codes—4,011—and by September the ratio of advertiser codes to editorial codes was 25:1.

    Interestingly, editorial codes changed from video extensions of magazine features to sweepstakes-oriented programs.

    Among other findings, by December 1 out of every 12 magazine ad pages had an action code. QR codes and Microsoft Tags dominated at 97 percent of all codes in the fourth quarter of 2011—but QR codes were by far the most popular at 72 percent of all used. Microsoft Tags were the more popular format for editorial use.

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  • 01.27.2012

    New commercial NCC plant proves growing momentum for innovative forest products

    The Forest Products Association of Canada (FPAC) says the opening of the world’s first nano-crystalline cellulose (NCC) plant in Canada is clear evidence of the rapid transformation of the forest sector and its growing role in the emerging bio-economy.

    Leading edge research by FPInnovations has led to the official opening today of the CelluForce plant in Windsor Quebec which will fabricate NCC  for eventual use in such products as paints and coatings, films and barriers, textiles, and composites.

    “This kind of development underscores the new business model that consolidates the economics of wood and pulp and paper production with the extraction of innovative new bio-energy, bio-chemicals and bio-materials,” says the President and CEO of FPAC, Avrim Lazar. “Extracting more value from every tree harvested is going to have an extraordinary impact for Canada economically, environmentally and socially.”

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  • 01.27.2012

    Price increase for Koehler Thermal Papers

    Papierfabrik August Koehler AG announces a price increase for thermal paper in North America by 5% effective April 1, 2012 due to continued escalation of raw material costs.
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  • 01.27.2012

    Metso-supplied containerboard line starts up at Saica Containerboard in the UK

    The Metso-supplied complete containerboard production line, PM 11, for Saica Containerboard UK Ltd., successfully came on stream on January 15, 2012 at Partington, near Manchester in the United Kingdom. The record-breaking start-up speed was 1,105 m/min with a basis weight of 95 g/m2.

    Three days later, on January 18, the first sellable paper reels were produced and tested, leaving the mill and reaching the first customers shortly afterwards.

    The new 8.2-m-wide PM 11 has an annual production capacity of approximately 400,000 tonnes of lightweight testliner and fluting grades in the basis weight range of 75 to 125 g/m2, out of 100% recycled raw material. The design speed is 1,700 m/min.

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  • 01.27.2012

    Pira forecasts $820 billion global packaging market by 2016

    The global packaging market is expected to reach $820 billion by 2016, according to “The Future of Global Packaging to 2016,” from Pira Intl.

    Driven mainly by increasing demand for packaging in emerging and transitional economies, a 3% annual growth rate will focus on board products and rigid plastics, with $40 billion and $33 billion in cumulative predicted growth respectively to 2016.

    Pira says growth will be driven by trends such as growing urbanization, investment in housing and construction, a burgeoning healthcare sector, and the rapid development still evident in the emerging economies, including China, India, Brazil, and some eastern European countries. An increase in personal disposable income in the developing regions fuels consumption across a broad range of products, with consequential growth in demand for the packaging of these goods.

    More specifically, robust growth in demand for rigid plastic packaging, especially in sectors like drinks, cosmetics, toiletries, and household and personal care products, is stimulating packaging consumption.

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  • 01.27.2012

    Tembec reports financial results for its first quarter ended December 24, 2011

    Consolidated sales for the three-month period ended December 24, 2011, were $401 million, as compared to $422 million in the comparable period of the prior year. The Company generated a net loss of $16 million or $0.16 per share in the December 2011 quarter compared to a net loss of $11 million or $0.11 per share in the December 2010 quarter. Operating earnings before depreciation, amortization and other specific or non-recurring items (EBITDA) was $12 million for the three-month period ended December 24, 2011, as compared to EBITDA of $12 million a year ago and EBITDA of $19 million in the prior quarter.

    The Specialty Cellulose and Chemical Pulp segment generated EBITDA of $27 million on sales of $152 million for the quarter ended December 24, 2011, compared to EBITDA of $30 million on sales of $180 million in the prior quarter. Sales decreased by $28 million primarily as a result of lower shipments.

    The Paper segment generated EBITDA of $10 million on sales of $85 million for the quarter ended December 24, 2011, compared to EBITDA of $6 million on sales of $84 million in the prior quarter. Higher prices and newsprint shipments were offset by lower coated bleached board shipments. In terms of markets, coated bleached board remained healthy while newsprint remained stable despite continued weaker North American demand statistics.

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  • 01.27.2012

    Media General Reports Fourth-Quarter 2011 Results

    Media General, Inc., a multimedia provider of broadcast television, digital media and print products, today reported operating income for the fourth quarter of 2011 of $27.7 million, excluding non-cash intangible asset impairment of $6 million and severance expense of $3.5 million. This compared with operating income of $36.7 million in the 2010 fourth quarter, excluding severance expense of $1.2 million and an insurance gain of $956,000. The impairment charge in the current quarter was related to DealTaker.com, as discussed below.

    The company reported a net loss in the fourth quarter of 2011 of $3.3 million, or 15 cents per share, including the severance expense and impairment. Adjusted for severance and impairment, income in the fourth quarter of 2011 was $4.5 million, compared with income in the 2010 fourth quarter of $9.3 million, adjusted for severance expense and the insurance gain.

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  • 01.26.2012

    Domtar consolidates its ownership of the Attends brand with an acquisition in Europe

    Domtar Corporation today announced the signing of a definitive agreement for the acquisition of privately-held Attends Healthcare Limited ("Attends Europe"), manufacturer and supplier of adult incontinence care products in Europe, from Rutland Partners for €180 million. The closing of the transaction is expected during the first quarter of 2012, subject to customary closing conditions.

    "The acquisition of Attends Europe moves us further along the path we started down last summer and it consolidates our ownership of the Attends brand on both sides of the Atlantic. With this acquisition, we are adding another platform for growth with a well-established business that has the critical mass to drive product development and brand growth with our current North American business," said John D. Williams, President and Chief Executive Officer of Domtar. "Demand for incontinence care products in Europe is strong, and our intent is to double earnings within the next five years."

    Attends Europe sells and markets a complete line of branded and private-label adult incontinence care products. The company distributes its products in several channels with its own sales organizations in nine European countries. Attends Europe operates a world-class 374,000 square foot (34,000 square meter) manufacturing facility with eight production lines; a research and development center and a distribution center in Aneby, Sweden; it also operates distribution centers in Scotland and Germany. Attends has 413 employees, estimated annual run rate sales and EBITDA of €140 million and €23 million respectively.

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  • 01.26.2012

    Vistaprint Reports Fiscal Year 2012 Second Quarter Financial Results

    Vistaprint N.V., a leading online provider of professional marketing products and services to micro businesses and the home, today announced financial results for the three month period ended December 31, 2011, the second quarter of its 2012 fiscal year.

    “We are very pleased with our second quarter,” said Robert Keane, president and chief executive officer. “The quarter reflects momentum in our strategy initiatives and investment in resources which we are confident will lead to future growth. Revenue was in the upper half of our guidance range due to strong sales of holiday and small business products during our seasonally strongest quarter of the year. Earnings per share excluding gains from our recent share repurchase activity exceeded our expectations due to a favorable non-operational foreign currency benefit, favorability in our tax rate, the timing of some planned operating expenses, and gross margin improvements. We were able to deliver these great results in the organic business while negotiating, performing due diligence, carrying out closing activities and planning integration activities for two acquisitions.”

    Highlights: Revenue for the second quarter of fiscal year 2012 grew to $299.9 million, a 28 percent increase over revenue of $234.1 million reported in the same quarter a year ago. Excluding Albumprinter revenue of $15.7 million, total second quarter revenue was $284.2 million. There was no revenue recognized during the quarter from the acquired Webs business. Excluding the estimated impact from currency exchange rate fluctuations and revenue from acquired businesses, total revenue grew 21 percent from the same quarter a year ago. Gross margin (revenue minus the cost of revenue as a percent of total revenue) in the second quarter was 66.8 percent, compared to 66.3 percent in the same quarter a year ago. Excluding the Albumprinter business, gross margin was 67.0 percent. Operating income in the second quarter was $32.5 million, or 10.9 percent of revenue, and reflected a 15 percent decrease compared to $38.2 million, or 16.3 percent of revenue in the same quarter a year ago.

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  • 01.26.2012

    Nation's Largest Specialty Golf Retailer Opening 10 New Locations

    Golfsmith, the nation's largest golf retailer announced plans to open 10 new stores and relocate four existing locations in fiscal 2012. The openings and relocations combined will result in a 17.5% increase in square footage.

    Golfsmith Planned New Store Locations In 2012:  Cleveland, OH; Washington DC metro area — 2 stores; Chattanooga, TN; Nashville, TN; Atlanta, GA; Baltimore, MD; Christiana, DE; San Antonio, TX.

    Golfsmith's plans for the four relocations are within existing markets. These stores will move into spaces that provide an updated and expanded golf retail experience that mirrors the Company's new stores. All scheduled store openings and relocations will be complete by the end of the year.

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  • 01.26.2012

    1-800-FLOWERS.COM, Inc. Reports Solid Revenue and Bottom-Line Performance for its Fiscal 2012 Second Quarter

    1-800-FLOWERS.COM, Inc., the world's leading florist and gift shop, today reported revenues from continuing operations of $239.8 million for its fiscal 2012 second quarter ended January 1, 2012, compared with revenues from continuing operations of $228.9 million in the prior year period. The Company said the 4.8 percent increase, or $11.0 million, reflected growth across all three of its business segments driven primarily by continued positive trends in its Consumer Floral segment, which grew 10.3 percent, or $8.5 million. Total revenue growth also benefited from several small acquisitions completed in the second half of fiscal 2011 and early in the first quarter of fiscal 2012.

    Gross profit margin for the quarter was 41.8 percent compared with 42.4 percent in the prior year period, primarily reflecting product mix and lower gross margins in the Company's BloomNet and wholesale gift basket businesses. Gross profit margin in the Company's ecommerce channels increased 30 basis points driven by a continued focus on reduced promotional pricing and enhanced manufacturing efficiencies. Operating expenses as a percent of revenue improved 20 basis points to 31.6 percent compared with 31.8 percent in the prior year period. The improved operating expense ratio primarily reflects the increased revenues for the quarter as well as the Company's continued focus on improving leverage across its business platform.

    EBITDA from continuing operations for the quarter increased 13.1 percent, or $3.9 million, to $33.3 million compared with EBITDA of $29.5 million in the prior year period. EBITDA for the quarter includes a $3.8 million pre-tax gain from the sale of 17 Fannie May Fine Chocolates retail stores as part of a 62-store franchise deal announced November 21, 2011. The Company noted that, while the sale of the stores significantly accelerated its Fannie May franchising program, the loss of revenues associated with the stores in the quarter reduced EPS by approximately $0.01 per share for the period.

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  • 01.26.2012

    Legal Matters : Proposed Marketplace Fairness Act Threatens Direct Marketers

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

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

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

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  • 01.26.2012

    Bemis Company Reports 2011 Fourth Quarter and Full Year Results

    Bemis Company, Inc. today reported quarterly diluted earnings of $0.19 per share for the fourth quarter ended December 31, 2011.  Diluted earnings per share would have been $0.45 for the fourth quarter of 2011, excluding the effect of facility consolidation and acquisition related integration charges detailed in the attached schedule, “Reconciliation of Non-GAAP Data.”

    Highlights of the full year 2011:  Cash flow from operations was $416.6 million, an increase of 13.2 percent from 2010. Acquisitions of barrier packaging manufacturing companies in China and North America position Bemis to expand its geographic and market application reach.  Bemis initiated a facility consolidation program to generate over $100 million in savings over the next three years. Facility consolidation related activities resulted in a charge of $0.24 per share during the fourth quarter of 2011, representing employee related charges and other fixed asset related costs.

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  • 01.26.2012

    Bertelsmann focuses Arvato on growth

    Bertelsmann is focusing its Arvato division on growth with an emphasis on the services businesses. To achieve this, the gravure operations and all of Arvato’s international printers are being grouped into a separate unit outside the Arvato division. The Bertelsmann AG Supervisory Board approved the Executive Board’s plans to this effect at a meeting in Gütersloh today.

    The new printing unit will have revenues of €1.2 billion. It will consist of the Prinovis Group and its sites in Germany and the UK, and Arvato's printers in Italy, Spain and America. The Mohn Media group and GGP Pößneck will remain with Arvato, however, because they dovetail very closely with Arvato’s services businesses. The Arvato division is simplifying its structure to concentrate on its fast-growing services business and the development of new business fields.

    Bertelsmann will manage these printing operations directly in a separate unit alongside its four corporate divisions RTL Group, Random House, Gruner + Jahr and Arvato. This reorganization makes it possible to better manage and focus the businesses. After Gruner + Jahr recently ceded its stake in Prinovis to Bertelsmann, the new grouping will result in a powerful printing unit. The new structure, which was jointly developed in close coordination between Bertelsmann CEO Thomas Rabe and Arvato CEO Rolf Buch, will be implemented during the first half of this year. It will then be decided who will manage the new unit. The shareholding structure at Prinovis and Arvato’s international printing plants remains unchanged.

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  • 01.26.2012

    Oil Gains a Second Day After Federal Reserve Commits to Low Interest Rates

    Oil rose for a second day in New York on speculation that Federal Reserve plans to keep U.S. interest rates near a record low will bolster investor demand for commodities.

    Futures advanced as much as 0.9 percent after the Fed’s announcement sent the dollar to its lowest in more than a month against the euro, making assets priced in the U.S. currency more attractive. The Federal Open Market Committee said it expects its benchmark interest rate to stay at “exceptionally low levels” at least through late 2014. A wider ban on Iranian oil than that announced this week by the European Union could boost crude by $30 a barrel, the International Monetary Fund said.

    “It’s a big commitment from the central bank,” said Sintje Boie, who correctly predicted in November that oil prices would slide by year-end. “For the markets, it’s a liquidity thing. All this liquidity must go somewhere, and so we have some money also going into oil. Prices are higher because of this bubble of liquidity.”

    Crude for March delivery rose as much as 90 cents to $100.30 a barrel on the New York Mercantile Exchange and was at $100.18 at 10:37 a.m. London time. The contract rose 45 cents to $99.40 yesterday. Prices are up 15 percent in the past year.

    Brent oil for March settlement was up $1.16, or 1.1 percent, at $110.97 a barrel on the ICE Futures Europe exchange in London.

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  • 01.26.2012

    USPS rolls out '2nd Ounce Free' pricing

    The U.S. Postal Service has introduced 2nd Ounce Free pricing, permitting commercial mailers to send out first-class pieces of up to 2 ounces at the 1-ounce price.

    According to USPS, the offer is aimed at commercial mailers of presorted transactional items such as bills, invoices and statements, allowing them to add in additional information about offers, up- and cross-selling opportunities, notifications, surveys and reply cards, or to use upgraded stock and envelopes, the USPS said.

    The 2nd Ounce Free program is a new price for presorted first-class mail, not a limited-time promotion such as the USPS' previous “summer sale” programs. First-class 1-ounce prices rose this week to 45 cents, or 35 cents for automated mailings.

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  • 01.26.2012

    Catalyst Paper gains additional support for recapitalization

    Catalyst Paper Corporation announced that it has gained additional support for the proposed recapitalization transaction and now has the support of holders of approximately 69.8% of the company’s 11% senior secured notes due 2016 (the Senior Secured Notes) and holders of approximately 40.1% of the company’s 7 3/8% senior notes due 2014 (the Senior Notes were issued under the company’s former name, Norske Skog Canada Limited). Holders of the Senior Secured Notes and Senior Notes who are parties to the Restructuring and Support Agreement (the Agreement) (or have signed joinder agreements) have agreed to vote in favour of and support the recapitalization transaction. The company will continue to solicit and expects further support for the recapitalization by January 27, 2012 (the early consent deadline under the Agreement).

    Details of the recapitalization will be provided in an information circular expected to be distributed to shareholders and holders of the Senior Secured Notes and Senior Notes in February, 2012.  The recapitalization is expected to close by March 31, 2012.

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  • 01.26.2012

    CEPIFINE Releases European Fine Paper Statistics for December 2011

    Total deliveries of CWF were down 5% vs. December 2010 and down 4.8% for the full year.  Total deliveries of UWF were down 2.0% vs. December 2010 and down 2.6% for the full year.
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  • 01.26.2012

    CEPIPRINT Monthly Statistics on the European Mechanical Papers Industry

    Total shipments of Newsprint were down 4.4% vs. December 2010 and down 2.8% for the full year.  Total shipments of SC-Magazine grades were down 6.0% vs. December 2010 and down 1.1% for the full year.  Total shipments of Coated Mechanical Reels were down 13.5% vs. December 2010 and down 0.6% for the full year.  Total shipments of Uncoated Mechanical (Improved & Others) was down 11.3% vs. December 2010 and down 2.7% for the full year.
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  • 01.26.2012

    SCA Reports Results for Q4 2011

    1 JANUARY–31 DECEMBER 2011 (compared with same period a year ago) including the packaging operations held for sale:

    Net sales decreased by 1% (increased by 4% excluding exchange rate effects and divestments) to SEK 105,750m (106,965); Operating profit excluding items affecting comparability decreased by 4% (unchanged excluding exchange rate effects) to SEK 9,224m (9,608); Items affecting comparability, write-downs of goodwill, restructuring costs, etc., amounted to SEK 5,676m (931).

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  • 01.26.2012

    Courier Reports Solid First Quarter

    Courier Corporation, one of America’s leading book manufacturers and specialty publishers, today announced results for the quarter ended December 24, 2011, the first quarter of its 2012 fiscal year. Revenues for the quarter were $62.9 million, up 3% from last year’s first-quarter sales of $61.2 million. Net income for the quarter was $1.5 million or $.12 per diluted share, compared to $1.7 million or $.14 per diluted share in the first quarter of fiscal 2011. Results in this year’s first quarter included a pretax charge of $1.5 million related to severance and post-retirement benefit costs, as well as a pretax gain of $0.6 million from the sale of certain non-operating assets. Excluding these transactions, income for the quarter was $.17 per diluted share. Details of these transactions can be found in the tables at the end of this release.

    Sales gains were concentrated in Courier’s book manufacturing segment, reflecting the effects of multi-year agreements with key customers in the education and religious markets, with particularly strong growth in Courier Digital Solutions’ customized college textbook business. Sales in the company’s publishing segment were down from last year’s first quarter, which included nearly $500,000 in sales to Borders Group. Borders filed for bankruptcy in February 2011 and completed the liquidation of its store inventories in September, eliminating a major outlet for books and undercutting sales at other booksellers during this period.

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  • 01.26.2012

    O-I Reports Full Year and Fourth Quarter 2011 Results

    Owens-Illinois, Inc. today reported financial results for the full year and fourth quarter ending December 31, 2011.

    Highlights: Reported net earnings: O-I reported a full year 2011 loss from continuing operations attributable to the Company of $3.12 per share, compared to earnings of $1.55 per share (diluted) in 2010. Despite higher sales and production volumes in 2011, the Company’s full year 2011 reported earnings were significantly lower due to the impact of several charges that management does not consider representative of ongoing operations. These charges were discussed in earlier quarters and include the Company’s goodwill impairment, asbestos-related costs, and restructuring and asset impairment.

    Adjusted net earnings: Excluding the items not representative of ongoing operations, adjusted net earnings (non-GAAP) were $2.37 per share for full year 2011, compared to $2.60 per share for full year 2010. Fourth quarter 2011 adjusted net earnings were $0.48 per share, compared to $0.45 in the fourth quarter of 2010.

    Higher sales and volume in 2011: Prior year acquisitions and organic growth across most regions drove net revenue higher in full year 2011 as tonnes shipped increased by more than 5 percent. Sales also benefited from favorable pricing and foreign currency translation.

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  • 01.25.2012

    Grainger Reports Record Sales of $8.1 Billion and Record EPS of $9.07 for the Year Ended December 31, 2011

    Grainger today reported record sales, net earnings and earnings per share for the year ended December 31, 2011.  Sales of $8.1 billion were up 12 percent versus $7.2 billion in 2010.  Net earnings of $658 million increased 29 percent versus $511 million in 2010.  Earnings per share of $9.07 increased 31 percent versus $6.93 in 2010.

    For the 2011 fourth quarter, the company reported sales of $2.1 billion, an increase of 14 percent versus $1.8 billion in the 2010 quarter.   Net earnings for the quarter of $148 million increased 12 percent versus $132 million in 2010.  Fourth quarter earnings per share of $2.04 increased 11 percent versus $1.83 in 2010.  In November of 2011, the company announced its plan to close 25 branches in the United States during the 2011 fourth quarter and incur a charge of approximately $14 to $18 million, or $0.12 to $0.15 per share, which was excluded from company earnings guidance.  In total, Grainger closed 27 branches, at a cost of $18 million or $0.16 per share. The company also recognized a $0.07 per share gain on the sale of its joint venture investment in MRO Korea.

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  • 01.25.2012

    Buckeye’s Second Quarter FY 2012 Results

    Buckeye Technologies Inc. today announced second quarter adjusted net income* of $27.9 million or $0.69 per share, which excludes after-tax non-cash asset impairment charges of $29.7 million, or $0.74 per share, related to the announced closure of the cotton linter pulp production line in Brazil and sale of our converting business in North Carolina, and income tax expense of $3.6 million or $0.09 per share related to cellulosic biofuel credits. Adjusted net income* rose 37% as compared to the prior year period’s $20.3 million, or $0.50 per share, which excluded after tax costs of $3.2 million, or $0.08 per share, from early extinguishment of debt, restructuring and accrued interest related to cellulosic biofuel credits.

    Net sales of $227 million were up 8% versus last year’s second quarter sales of $210 million. Sales benefited from higher selling prices and increased specialty wood fibers shipment volume. The $0.19 increase in adjusted EPS*, compared to the prior year period, was driven by these same factors. The prior year quarter also benefited by $0.05 per share from the final insurance settlement related to June 2010 power outage at our Florida specialty wood pulp facility. Aside from higher cotton linter costs, which were up about 30% in North America over the year ago quarter, cost inflation for chemicals, transportation and other raw materials was modest with energy prices stable.

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  • 01.25.2012

    RockTenn Reports Results for the First Quarter of Fiscal 2012

    RockTenn today reported earnings for the quarter ended December 31, 2011 of $1.06 per diluted share and adjusted earnings of $1.18 per diluted share.

    Net sales of $2,267.7 million for the first quarter of fiscal 2012 increased $1,506.6 million over the first quarter of fiscal 2011, primarily as a result of the May 27, 2011, Smurfit-Stone acquisition.
    Segment income, adjusted to eliminate $0.4 million of pre-tax acquisition inventory step-up, was $193.5 million, up 74.8% over the prior year quarter, primarily as a result of the Smurfit-Stone acquisition.
    RockTenn’s restructuring and other costs and operating losses and transition costs due to plant closures, net of related noncontrolling interest were $0.12 per diluted share after-tax, for the first quarter of fiscal 2012. These costs consisted primarily of $3.6 million of pre-tax facility closure charges primarily related to former Smurfit-Stone corrugated container plants, $7.3 million of pre-tax integration and acquisition costs that primarily consisted of professional services and other employee costs and $1.6 million of pre-tax operating losses and transition costs in connection with consolidating converting facilities.

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  • 01.25.2012

    The American Accounting Association Selects Allen Press As Online Publishing Provider

    Allen Press, Inc., printer and publishing services provider, has recently entered into an agreement with the American Accounting Association (AAA) to provide online publishing on the Pinnacle platform for fifteen of the association’s journals in addition to services currently being provided.

    Since 1916, AAA has attracted the largest community of accountants in academia. The Association is committed to collaboration and innovation through teaching and research. Consisting of seven regions and specialty sections publishing a variety of journals and educational material, AAA is the principal professional association of accounting academics in the United States.

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  • 01.25.2012

    Oil Trades Below $100 as Rising U.S. Stockpiles Counter Gasoline Demand

    Oil declined a second day in New York as rising U.S. crude inventories countered data showing gasoline demand increased last week in the world’s largest oil consumer.

    Futures fell as much as 0.9 percent after dropping 0.6 percent yesterday. Crude stockpiles probably rose last week as imports rebounded, according to a Bloomberg News survey before an Energy Department report today. U.S. gasoline demand grew for a second week, MasterCard Inc. data showed yesterday. The European Union embargo on Iranian oil supplies will “bear bitter fruit,” Iran’s Foreign Affairs Ministry said this week.

    “Downward pressure on crude futures could we remain until the end of the week,” said Andrey Kryuchenkov, an analyst at VTB Capital in London, who predicts prices will struggle to rise above $102 a barrel. “Demand numbers could well see extra attention” in today’s Energy Department data.

    Crude for March delivery fell as much as 85 cents to $98.10 a barrel in electronic trading on the New York Mercantile Exchange and was at $98.14 at 11:49 a.m. London time. Yesterday, the contract fell 63 cents to $98.95, the lowest settlement since Jan. 20. Prices have climbed 14 percent in the past year.

    Brent oil for March settlement on the London-based ICE Futures Europe exchange was at $109.62 a barrel, down 41 cents.

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  • 01.25.2012

    MagnaGlobal revises U.S. ad forecast up to 3.7% growth this year

    U.S. ad revenue will grow by 3.7% this year over last year, according to a revised forecast by MagnaGlobal, the global media unit of IPG's Mediabrands. This forecast is up from a 2.9% growth projection issued by MagnaGlobal in October.

    MagnaGlobal said the quadrennial effect of U.S. political advertising and the Summer Olympics will help increase ad revenue this year.

    Internet advertising will be the fastest-growing media category this year, increasing 10.9%. Other categories that will see increases include broadcast television (up 8.5%), which will benefit from political and Olympic advertising, and outdoor (up 4.0%).

    All other major media categories will suffer this year, MagnaGlobal projects. Newspapers will be down 6.0%, magazines will be down 5.2%, and radio will be down 0.8%, according to the report.

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  • 01.25.2012

    Fry Communications Adds to Production Workflow Toolbox Through Affiliation With SendMyAd

    Fry Communications recently entered into an Affiliate Agreement with Blanchard Systems to offer the SendMyAd ad portal as part of Fry’s growing selection of production workflow tools.

    SendMyAd is a “cloud based” ad portal, which is accessed using a standard web browser to simplify the process of print, web and tablet ad submission. With SendMyAd, ad materials can be uploaded, preflighted, approved, and delivered to the publisher or their printer all within a simple-to-use portal. It provides both the publisher and advertiser an interactive preflight report highlighting the results of preflight tests performed against the publisher’s ad specifications. With an easy to use trim-editing tool, ads can be repositioned and trimmed to match ad specifications without resubmitting or leaving the ad portal. SendMyAd creates a PDF/X-1a and retains all job ticket and history as metadata.  The ad is then delivered to the publisher or printer ready for placement in the magazine. 

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  • 01.25.2012

    GTREE Set to Revolutionize Sustainable Label Offerings

    Following years of research, testing and development, G3 Enterprises is now offering GTREE™ – an environmentally sustainable, high-performance wine label paper which was developed for use on all bottling lines, including those utilizing high-speed and mobile bottling  application equipment.

    Manufactured from 100% post-consumer recycled fiber (100% PCW), GTREE™ has one of the greenest environmental footprints of any label stock currently offered. The GTREE™ label contains true recycled fiber consisting of sorted office paper that has had at least one useful life before being recycled. G3 Enterprises teamed with family-owned Monadnock Paper Mills, which is also known as a global environmental steward, to research and develop a 100% PCW label stock that could meet the rigors of bottling including tensile and tear strength, brightness, embossing and scuff resistance that is equal to or better than current paper stocks. Additionally, the GTREE™ label paper is specially designed with a unique formulation which results in increased resistance to water absorption allowing GTREE™ to maintain its premium appearance and high quality print aesthetics even when exposed to ice bucket conditions for prolonged periods.

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  • 01.25.2012

    Wary but Determined, Publishers are Preparing for the Digital Future

    The transition to digitization continues in book publishing, an industry that is both susceptible to digital disruption, but also positioned to benefit tremendously from it, according to Forrester Research analyst James McQuivey who kicked off this year's Digital Book World conference. That said, a survey conducted by Forrester in collaboration with Digital Book World found that while 82% of publishers were optimistic about digital, the number was down from 89% last year. Indeed only 28% of those thought their own company would be stronger in the future, down from 51% last year.
     
    The decline has a lot to do with a realization of hard work ahead for publishers to adapt to the new digital environment, according to McQuivey. He also offered these figures: 25 million people in the U.S. own an e-reader; 34 million people own tablets and eight million homes have at least two tablets. While publishers may be a bit daunted, they are rapidly organizing their firms for digital: 75% of publishers have an executive level person responsible for digital; 63% report that digital skills are formally integrated into all departments; 69% of the publishers expect to increase digital staffiing in 2012, while 22% expect overall company staffing to go down in 2012.
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  • 01.25.2012

    Xerox Reports Fourth-Quarter 2011 Earnings

    Xerox Corporation announced today fourth-quarter 2011 results that include adjusted earnings per share of 33 cents, up 14 percent from fourth-quarter 2010, and $1.3 billion in operating cash flow. Adjusted EPS excludes 7 cents related to amortization of intangibles, resulting in GAAP EPS of 26 cents.

    In the fourth quarter, total revenue of $6 billion was flat; revenue from the company’s services business was up 6 percent, and revenue from its technology business was down 5 percent. Growth in services was driven by an 8 percent increase in both business process outsourcing and document outsourcing. Technology revenue, which represents the sale of document systems, supplies, technical service and financing of products, was significantly impacted by economic weakness in Europe.

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  • 01.25.2012

    MWV Reports Fourth Quarter and Record Full-Year 2011 Results

    MeadWestvaco Corporation today reported a loss from continuing operations of $9 million, or $0.05 per share, in the fourth quarter of 2011. Excluding special items, principally charges related to the forthcoming spinoff of the Consumer & Office Products business, income from continuing operations in the fourth quarter of 2011 was $44 million, or $0.26 per share, versus $71 million, or $0.41 per share in 2010 on the same basis. The decline was primarily due to lower volume across certain U.S. and European packaging markets as customers aggressively responded to uncertain demand trends caused by ongoing global macroeconomic developments.

    Total sales in the fourth quarter of 2011 were unchanged compared to 2010. Growth in global markets for food, beverage and healthcare packaging, and higher sales of performance chemicals for inks, adhesives, and oilfield drilling markets were offset primarily by lower demand in home and garden, beauty and personal care packaging, particularly in Europe, and in general paperboard packaging.

    Total sales for full-year 2011 increased 6 percent compared to 2010. Full-year 2011 pre-tax income from the company’s business segments (before Corporate and Other) increased 15 percent to $840 million led by significant profit improvements in Packaging Resources of 25 percent and Specialty Chemicals of 44 percent. Growth in global markets for food, beverage and tobacco, as well as in performance chemicals for adhesives, inks and oilfield markets drove the company’s improved full-year 2011 results.

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  • 01.25.2012

    Corner Brook Pulp and Paper to implement rationalization plan

    Corner Brook Pulp and Paper announced today that it will implement a rationalization plan to improve its competitiveness in an increasingly demanding market. Starting in the first quarter of 2012, the plan will cover all sectors of the mill.

    To ensure the mill's long-term viability, the Company must reduce its labour costs which are significantly higher than the Canadian industry average.

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  • 01.25.2012

    Meredith Significantly Increases Its Digital Scale With Acquisition of Allrecipes.com

    Meredith Corporation and The Reader's Digest Association, Inc. announced today that Meredith, the leading media and marketing company serving American women, has agreed to purchase Allrecipes.com, the world's No. 1 digital food site.

    "The acquisition of Allrecipes.com, the market leader in the digital food space, significantly enhances our leading consumer and advertiser proposition," said Meredith Chairman and CEO Steve Lacy. "It more than doubles the scale of the Meredith Women's Digital Network, and is expected to drive incremental revenue and profit growth, adding to our already strong free cash flow over time."

    The acquisition of a digital brand of scale aligns well with Meredith's Total Shareholder Return (TSR) financial strategy, which was announced on October 25, 2011.  The TSR strategy includes (1) An increase in its annual stock dividend by 50 percent to $1.53 per share; (2) A new $100 million share repurchase authorization; and (3) Strategic investments to drive incremental revenue and profit growth. 

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  • 01.25.2012

    Meredith Corporation Reports Fiscal 2012 Second Quarter Results

    Meredith Corporation, the leading media and marketing company serving American women, today reported fiscal 2012 second quarter earnings per share of $0.70, compared to $0.88 in the year-ago period.  Revenues were $329 million, compared to $366 million. Meredith recorded $21 million, or $0.28 per share, less of political advertising revenues in the second quarter of fiscal 2012 than in the year-ago period, which is expected in an off-election year.

    Fiscal 2012 second quarter Local Media Group operating profit was $27 million, compared to $39 million in the year-ago period.   Total revenues were $84 million, compared to $97 million.  Meredith recorded $21 million less of political advertising revenue in the second quarter of fiscal 2012 than in the year ago period, which is expected in an off-election year.  Expenses declined 3 percent, helping drive an EBITDA margin of nearly 40 percent.

    Fiscal 2012 second quarter National Media Group operating profit was $36 million, compared to $42 million in the year-ago period.  Revenues were $244 million, compared to $268 million. Expenses decreased 8 percent.

    Fiscal 2012 second quarter advertising revenues were $107 million, compared to $122 million in the year-ago period.  Fiscal 2012 second-quarter weighted average net advertising revenues per magazine page increased 8 percent, due primarily to a change in mix and stronger pricing. 

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  • 01.25.2012

    EFI Reports Fourth Quarter and Full Year 2011 Results

    Electronics For Imaging, Inc., a world leader in customer-focused digital printing innovation, today announced its results for the fourth quarter of 2011.

    For the quarter ended December 31, 2011, the Company reported record revenue of $163.1 million, up 12% year-over-year compared to fourth quarter 2010 revenue of $145.0 million. Fourth quarter 2011 non-GAAP net income was $16.6 million or $0.36 per diluted share, including $0.03 of unfavorable non-operational currency impact, compared to non-GAAP net income of $13.3 million or $0.28 per diluted share for the same period in 2010. GAAP net income was $11.5 million or $0.25 per diluted share, compared to $8.1 million or $0.17 per diluted share for the same period in 2010.

    For the twelve months ended December 31, 2011, the Company reported revenue of $591.6 million, up 17% year-over-year compared to 2010 revenue of $504.0 million. Non-GAAP net income for the year was $53.1 million or $1.12 per diluted share, compared to non-GAAP net income of $27.8 million or $0.59 per diluted share for the same period in 2010. GAAP net income for the year was $27.5 million or $0.58 per diluted share, compared to GAAP net income of $7.5 million or $0.16 per diluted share for the same period in 2010.

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  • 01.24.2012

    RR Donnelley Signs a Multi-Year Multi-Million Dollar Print Management Agreement With Metro Inc.

    R. R. Donnelley & Sons Company today announced that it has been awarded a multi-year multi-million dollar agreement by Metro Inc., a leading grocery and pharmacy chain in Quebec and Ontario with more than 65,000 employees. Under the terms of the agreement, which renews and expands the companies' relationship, Metro will draw upon RR Donnelley's Canadian production, distribution and technology platform for its administrative and operational documents.

    "RR Donnelley has been a strategic business provider for Metro for 10 years," stated Richard Dufresne, Metro's Senior Vice President, Chief Financial Officer. "We are pleased to continue this long-term relationship in a new agreement. We believe that RR Donnelley's production capabilities and its technology-based solutions are fully aligned with Metro's Customer First Strategy, to help support a better shopping experience for our customers."

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  • 01.24.2012

    Rayonier Reports Strong Fourth Quarter and Full Year 2011 Results

    Rayonier today reported fourth quarter net income of $56 million, or 45 cents per share, compared to $59 million, or 48 cents per share, in the prior year period. Full year 2011 net income totaled $276 million, or $2.20 per share, compared to $218 million, or $1.79 per share, in 2010.

    Forest Resources: Fourth quarter sales of $52 million were $19 million above the prior year period, while operating income of $14 million increased $7 million, reflecting strong export demand in the Northwest and slightly improved pulpwood markets in the Atlantic region.

    Performance Fibers: Fourth quarter sales of $281 million were $48 million above the prior year period, while operating income of $76 million was $14 million higher. The impact of stronger cellulose specialties markets more than offset a price decline in absorbent materials and higher input and transportation costs. As expected, the quarter was also impacted by a $6 million write-off related to process equipment changes needed for the cellulose specialties expansion project.

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  • 01.24.2012

    Packaging Corporation of America Reports Fourth Quarter and Full Year 2011 Results

    Packaging Corporation of America today reported fourth quarter 2011 net income of $39 million, or $0.40 per share. Reported results for the fourth quarter of 2010 were $53 million, or $0.52 per share, excluding income from biofuel tax credits and asset disposal charges.

    Lower earnings per share, compared to last year’s fourth quarter, were driven by cost inflation ($0.10), lower containerboard export prices ($0.03), increased depreciation ($0.02) and other items ($0.02). These items were partially offset by lower energy and chemical usage ($0.03) and higher corrugated products volume ($0.03).

    Excluding special items, full year earnings were $162 million, or $1.61 per share, compared to 2010 earnings of $166 million, or $1.62 per share. Price and mix ($0.38), higher volume ($0.17) and cost reduction benefits ($0.06) improved earnings per share, but was offset by cost inflation ($0.56) and higher depreciation expense ($0.05).

    Net sales in the fourth quarter were $654 million, up 4% compared to fourth quarter 2010 net sales of $627 million, and full year net sales were a record $2.6 billion, up 8% over 2010.

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  • 01.24.2012

    Oil Fluctuates in New York as Iran Responds to Europe Crude Oil Embargo

    Oil swung between gains and losses in New York as Iran criticized a European embargo on its crude exports without repeating threats to disrupt shipping in the Persian Gulf.

    Futures rose as much as 0.6 percent before dropping 0.7 percent. While a statement from Iran’s Foreign Affairs Ministry said yesterday’s European Union decision to ban supplies from the nation will “bear bitter fruits,” it stopped short of warning it would close the Strait of Hormuz. An Energy Department report tomorrow may show U.S. crude stockpiles rose last week. The American Petroleum is due to publish its weekly supply report today.

    “The Iranian crisis is masking underlying weakness in market fundamentals,” said Andy Sommer, a senior trader at EGL AG in Dietikon, Switzerland, who says the price of Brent crude should be $5 a barrel lower. “We have increasing supply from places like Libya, while U.S. oil demand numbers look pretty weak, and Europe is the weakest link.”

    Crude for March delivery rose as much as 60 cents to $100.18 a barrel and was down 46 cents at $99.12 at 11:51 a.m. London time. It settled at 99.58 yesterday, the highest since Jan. 19. Brent oil for March settlement was at $110.03 a barrel, down 55 cents, on the London-based ICE Futures Europe exchange.

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  • 01.24.2012

    Domtar's 'PAPERbecause' Print Campaign Touts the Value and Sustainability of Paper

    Domtar Corporation is extending its award-winning PAPERbecause campaign with a series of new print ads that show why paper still plays a vital role in everything from today's business meetings to educating tomorrow's business leaders.

    The print ads will start to appear in January in leading paper, graphic design and printing trade publications. The campaign will expand in the first quarter to include prominent consumer publications such as Fast Company, National Geographic and The New York Times. The print campaign shows how using paper responsibly makes sense in our homes and professional lives, and how it's also an environmentally sound choice. The print ads will join a series of videos and banner ads appearing on a variety of websites.

    "The PAPERbecause print campaign gives Domtar a platform to show how paper - a sustainable, renewable and recyclable product - fits so nicely into our lives," said Lewis Fix, Vice-President of Sustainable Business and Brand Management at Domtar. "Domtar is a leader in sustainable paper production, and we promote the responsible use of paper. PAPERbecause reminds people of why paper is so vital today."

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  • 01.24.2012

    EFI Ships Next-Generation, 3.2 Meter Dye-Sublimation Soft Signage Printer

    EFI™, a world leader in customer-focused digital printing innovation, today announces commercial availability of the EFI VUTEk® TX3250r fabric printer, enabling customers to take advantage of the demands and requirements of the growing soft signage markets. The VUTEk TX3250r printer is a new 3.2-meter, production-level solution that evolved from the first EFI industrial inkjet textile system, the VUTEk FabriVu, introduced in 2002.

    An early adopter for the VUTEk TX3250r, Indy Imaging of Indianapolis, IN already had two VUTEk GS3200 hybrid printers. According to Robbie Gordon, president, "In our market, it's about reliability, quality and turnaround and all of that must happen consistently. Our customers have noticed differences in all three areas. What used to take us hours now takes minutes, and the quality that was not there at 300 dpi with other printers, is abundantly there at 1080 dpi on the new VUTEk TX3250r. The speed and quality of this new printer outpaces the competition. We can now print 10-foot wide banners with no seams, opening up another market for larger sizes in flags and banners."

    With the ability to print direct to textile and transfer paper, the VUTEk TX3250r is an ideal solution if you are looking to grow your soft signage business with a production-level printer, or if you want to diversify your offering by converting traditional vinyl signage to a product with lower shipping costs, a greener footprint, easier installation and higher margins.

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  • 01.24.2012

    G7-Certified Expert’s Unique Knowledge Puts Finch on the A List

    Finch Paper customers are looking to the company’s newest G7 Expert, Mary Schilling, to provide value-add G7 services for color management, process and quality control for electrophotography (EP), lithography, and high-speed inkjet printing equipment. Schilling works with the Finch digital team to analyze color, ink/toner, machinery, paper and other print-related issues to bring systems into compliance with clients’ preferred processes, including the G7 methodology.

    Schilling, who joined Finch in early 2011, is in an industry veteran with a broad and deep understanding of the entire production process, from design software to press delivery. In 2012 she will present at the IMI Ink Jet Conference on February 1-3, the Xplor conference on March 27-29, and the CGX Emerge conference on April 17-19.

    “Digital printers, especially those using production inkjet presses, have quickly realized that the paper ink/toner relationship is critical,” explains Finch Paper Director of Product Marketing, Phil Hart. “Paper is a significant part of the print equation, and has tremendous impact on every job. We’re helping our clients optimize press performance and print quality with experts like Mary, who combine their knowledge of fluid and substrate interactions with leading process methods, such as G7.”

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  • 01.24.2012

    Topspin LBO Buys Stagnito Media

    Stagnito Media, a b-to-b media company serving the grocery and convenience store markets, has been acquired by Topspin LBO, a Long-Island-based private equity firm.

    The deal will give Stagnito the resources it needs to continue its growth, says CEO Harry Stagnito, particularly in marketing services and data and information products. While he wouldn't reveal the terms of the deal, the company grew 26 percent in revenues during 2011, with print representing 60 percent of overall revenues, digital 20 percent and marketing services and events at 20 percent.

    "Print is growing, it's not going backwards," clarifies Stagnito. "Our whole pie is getting bigger as these other areas continue to grow. I believe very strongly in print as we increase our share of market."

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  • 01.24.2012

    Forest Industry Welcomes Renewed Softwood Lumber Agreement

    The Forest Products Association of Canada (FPAC) is pleased that the Minister of International Trade, Ed Fast, has today announced a two-year extension of the Softwood Lumber Agreement along with the US Trade Representative, Ron Kirk.

    “The softwood agreement does provide stability and predictability in terms of getting access to our most important market, the United States,” says the President and CEO of FPAC, Avrim Lazar.  “The industry is of the view that at a time of ongoing market uncertainty, it is a good idea to extend the deal by another two years to provide a degree of certainty in market access to the U.S.”

    Lazar notes that Canadian forest companies have gone through an economically challenging time with mill closures and the job loss in the face of the global recession and the changing marketplace.  The sector has had significant success in diversifying their markets especially in Asia.  Wood exports to China have increased by 46 times since 2000 and the sector is now the largest Canadian exporting industry to both India and China.    However the U.S. still accounts for about two-thirds of the exports of Canadian forest products.

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  • 01.24.2012

    Millar Western achieves new forest and environmental certifications under SFI and ISO 14001

    Following successful audits in late 2011, Millar Western's Boyle woodlands group recently received confirmation that their operations had been certified under the Sustainable Forestry Initiative (SFI) and ISO 14001 standards, joining the company's Whitecourt/Fox Creek operations.  The certification of all its woodlands operations under these internationally-recognized, third-party-audited forest certification and environmental management programs marks a significant milestone for the company, providing stakeholders with further confirmation of Millar Western's commitment to manage natural resources in a responsible and sustainable manner.
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  • 01.24.2012

    M-real launches two new double-coated Kemiart kraftliners giving POS displays and retail-ready packaging richer colours and enhanced gloss

    M-real, the global market leader in coated white top kraftliners, has launched two new double-coated grades: Kemiart Graph+ and Kemiart Lite+. The double coating provides a smoother and glossier surface, enhancing printability with improved ink laydown, brighter colours and more accurate detail. The new grades are
    ideal for retail-ready packaging, point-of-sale and promotional displays and other high-end packaging applications.

    Kemiart Graph+ has been developed for flexo preprint, as well as offset, screen and water-based inkjet printing; Kemiart Lite+ is designed for flexo postprint. They join Kemiart Ultra and Kemiart Brite in a range that has a linerboard suitable for every application.

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