Paperclips Blog | St Marys Paper Results

  • 02.03.2012

    Target Reports January Sales Results

    Target Corporation today reported that its net retail sales for the four weeks ended January 28, 2012 were $4,608 million, an increase of 5.1 percent from $4,383 million for the four weeks ended January 29, 2011. On this same basis, January comparable-store sales increased 4.3 percent.
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  • 02.03.2012

    American Direct Adding a Sanden Web Offset Press, Its Third in 12 Months

    American Direct, a sister company to Tidewater Direct, has announced the purchase of a 10-color Sanden 1500 web offset printing press. This marks the third Sanden 1500 press the company has acquired in less than a year.

    Utilizing printing cylinder inserts compatible with the two eight-color Sanden presses that precede it, this press is the ideal complement to American Direct’s pressroom layout. The addition of the third press, which is the fifth press at this facility and number 14 across the company, allows the printer to perform fewer cylinder changes in its regular workflow, thereby increasing efficiency and reducing cost.

    Adding a third press shows an astounding commitment to the direct mail printing and pharmaceutical printing markets in which the company continues to be a growing player. Notably, this press will now enable American Direct to print 10-color forms with 17?, 22? and 28? repeats. This lends itself well to direct mail printing that requires four-color printing on both sides, plus a spot color (which in many cases can be a logo or a another critical color).

    The press is fully capable of producing additional formats that use all 10 units. This new capability brings value to the printer’s already capable pressroom.

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  • 02.02.2012

    Limited Brands Reports January 2012 Sales

    Limited Brands, Inc. reported a comparable store sales increase of 9 percent for the four weeks ended Jan. 28, 2012, compared to the four weeks ended Jan. 29, 2011.  The company reported net sales of $774.5 million for the four weeks ended Jan. 28, 2012, compared to net sales of $772.6 million last year.

    The company reported a comparable store sales increase of 7 percent for the fourth quarter ended Jan. 28, 2012, compared to the fourth quarter ended Jan. 29, 2011.  The company reported net sales of $3.515 billion for the fourth quarter ended Jan. 28, 2012, compared to sales of $3.456 billion last year.

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  • 02.02.2012

    Abercrombie & Fitch Provides Fourth Quarter 2011 Business Update

    Abercrombie & Fitch today reported on the Company's performance for the quarter ended January 28, 2012.  Net sales increased 16% to $1.329 billion for the quarter, compared to net sales of $1.149 billion for the fiscal quarter ended January 29, 2011.

    Comparable store sales for the quarter were flat to last year.  Comparable store sales for the quarter were below expectations, primarily due to lower than expected sales in U.S. stores.

    Total U.S. sales, including direct-to-consumer sales, increased 4% to $962.2 million.  Total international sales, including direct-to-consumer sales, increased 62% to $366.6 million.  Total Company direct-to-consumer sales, including shipping and handling, increased 41% to $212.3 million. 

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  • 02.02.2012

    Gap Inc. Reports January Sales

    Gap Inc. today reported that January 2012 net sales decreased 1 percent compared with last year.

    Net sales for the four-week period ended January 28, 2012 were $833 million compared with net sales of $843 million for the four-week period ended January 29, 2011. The company’s comparable sales for January 2012, which include the associated comparable online sales, were down 4 percent compared with a 3 percent increase for January 2011.

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  • 02.02.2012

    Macy's, Inc. Fiscal 2011 Same-Store Sales Rise 5.3%

    Macy's, Inc. today reported total sales of $1.336 billion for the four weeks ended Jan. 28, 2012, an increase of 2.0 percent compared with total sales of $1.310 billion in the four weeks ended Jan. 29, 2011. On a same-store basis, Macy's, Inc. sales were up 2.4 percent in January.

    For the 13-week fourth quarter of fiscal 2011, Macy's, Inc.'s sales totaled $8.723 billion, up 5.5 percent from total sales of $8.269 billion for the final 13 weeks of 2010. On a same-store basis, the company's fourth quarter sales were up 5.2 percent.

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  • 02.02.2012

    United Retail Group Files for Chapter 11 Bankruptcy Protection

    United Retail Group, owner of the Avenue® brand of women’s fashion apparel and a subsidiary of Redcats USA, today announced that it has voluntarily initiated Chapter 11 proceedings in the U.S. Bankruptcy Court for the Southern District of New York, and that it is pursuing a sale process under Section 363 of the Bankruptcy Code.

    In conjunction with the filing, United Retail Group has entered into an asset purchase agreement with an entity controlled by Versa Capital Management, which it intends to submit to the Court to serve as the “stalking horse” bid for a Court-supervised auction of the business. Versa Capital, a private equity firm with significant experience in revitalizing retail operations, has agreed to buy the company's assets through the bankruptcy process for cash and the assumption of certain liabilities.

    Versa Capital has agreed to operate Avenue as a going concern while keeping the majority of Avenue stores open. The Company has filed motions to maintain critical vendor relationships and payments, as well as motions to honor gift cards and the Avenue loyalty reward program.

    To provide liquidity during the restructuring process, United Retail Group has arranged a $40 million Debtor-in-Possession (DIP) facility from its existing revolving credit lender, Wells Fargo, to provide sufficient working capital for Avenue to continue to operate the business as usual.

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  • 02.02.2012

    Crude Oil Falls to Six-Week Low as U.S. Stockpiles Rise, Fuel Demand Slip

    Oil fell to the lowest in six weeks as U.S. crude stockpiles increased more than estimated and gasoline use fell to a 10-year low. Brent crude in London was at the biggest premium to New York oil in 12 weeks.

    Futures declined for a fifth day, losing as much as 1 percent after an Energy Department report yesterday showed crude supplies in the U.S. rose by 4.2 million barrels last week. Inventories were projected to increase 2.6 million barrels, according to a Bloomberg News survey. Talks on Iran’s nuclear program have made little progress, German Chancellor Angela Merkel said in a speech in Beijing today.

    “The bears worried about poor demand after last night’s data and prices weakened,” said Christopher Bellew, a senior broker at Jefferies Bache Ltd. in London, who expects Brent crude to trade in a range of $110.50 to $112.50 a barrel this week. “But Iran is still a cause for concern.’’

    Crude for March delivery on the New York Mercantile Exchange fell as much as 95 cents to $96.66 a barrel, the lowest since Dec. 20, and was at $96.88 at 10:17 a.m. London time. The contract fell 0.9 percent yesterday to $97.61 a barrel. Prices are down 2 percent this year.

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  • 02.02.2012

    Social ad revenue shows strong growth

    Advertising on social sites continues to surge, with Facebook, LinkedIn and Twitter all achieving strong advertising revenue growth year over year, according to a new report by eMarketer.

    Facebook continues to lead all social sites in ad revenue, reaching an estimated $3.8 billion in 2011, double the $1.9 billion in ad sales the year before. Facebook also has widened its lead in the display-ad market, with 27.9% of monies spent in the U.S. last year, ahead of Yahoo with 11%.

    LinkedIn ad revenue hit $154.6 million last year, up 95% from the $79.3 million the year before. EMarketer estimates that LinkedIn's ad sales will cool somewhat this year, growing 46% to $226 million. Twitter ad sales grew 233% to $139.5 million, up from $59.9 million in 2010. The report estimates that Twitter's international growth will push ad sales to $259.9 million this year, a year-over-year rise of 83%.

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  • 02.02.2012

    Hickory Printing Solutions Achieves G7 Master Qualified Printer Status at Both Locations

    Hickory Printing Solutions, a Consolidated Graphics, Inc. company and full service print provider, announced today it has achieved G7 Master Qualified Printer status at both Hickory locations in Conover and Greensboro, NC, through IDEAlliance, the nonprofit industry organization that develops, educates, and validates best practices in publishing and information technology. Hickory Printing Solutions' G7 Master Qualified Printer designation highlights the company's commitment to quality, consistency and color management.

    "Our focus is on providing a high level of quality and expanding our extensive production capabilities to constantly meet the evolving needs of our customers. Acquiring G7 Master Qualified Printer status at both of our facilities reinforces this promise," said Stephen Patton, President of Hickory Printing Solutions. "Having certification at both locations confirms that we are taking the steps necessary to verify color consistency across all presses, giving us a flexibility that makes our clients' lives easier."

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  • 02.02.2012

    Crown Holdings Reports Fourth Quarter 2011 Results

    Crown Holdings, Inc. today announced its financial results for the fourth quarter and year ended December 31, 2011.

    Net sales in the fourth quarter grew to $2,058 million over the $1,949 million in the fourth quarter of 2010, primarily driven by the pass-through of higher raw material costs and higher sales unit volumes of beverage cans, offset by lower sales unit volumes of food cans and a decrease of $27 million from foreign currency translation.  Approximately 74% of net sales were generated outside the U.S. in the fourth quarter compared to 73% in the fourth quarter of 2010.

    Fourth quarter gross profit improved to $289 million over the $288 million in the 2010 fourth quarter and included a decrease of $5 million from foreign currency translation.

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  • 02.02.2012

    Time Inc.’s MAGHOUND Shuttering

    Time Inc.’s print magazine venture MAGHOUND is closing. The service debuted in 2008, and is expected to fold early this year. Dubbed the “Netflix of the magazine industry” in the press, MAGHOUND hawked multiple titles for a discount price, without the commitment of a subscription.

    The Time Inc. subsidiary offered three titles for $4.95 a month, five for $7.95, seven mags for $9.95 and $1.00 per title for eight magazines or more. The service, which billed customers’ credit/debit cards directly, operated on a monthly cycle.

    According to a Time Inc. representative, the publisher will close the division in order to focus budgets and manpower on the digital push (all 21 Time titles were digitized in 2011). There will be a grace period in which users are made aware of the
    changes and advised to subscribe directly to their magazines of choice.

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  • 02.02.2012

    Harte-Hanks Reports Fourth Quarter and Full Year Results

    Harte-Hanks, Inc. today reported fourth quarter 2011 diluted earnings per share of $0.23 on revenues of $224.6 million. These results compare to diluted earnings per share of $0.24 on $236.0 million in revenues for the fourth quarter of 2010.

    For the three months ended December 31, 2011, the company generated free cash flow (defined below) of $16.2 million, down from $17.3 million in the prior year’s fourth quarter. Capital expenditures for the quarter were $4.6 million compared to $4.8 million in the prior year’s fourth quarter.

    For the year, the company’s revenues decreased to $850.8 million and operating income decreased 17.2% to $75.4 million. Diluted earnings per share for the year were $0.70 compared to $0.84 for 2010.

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  • 02.02.2012

    International Paper Reports Fourth-Quarter and 2011 Earnings

    International Paper reported preliminary full-year 2011 net earnings attributable to common shareholders totaling $1.3 billion ($3.07 per share) compared with $644 million ($1.48 per share) in full-year 2010. In the fourth quarter of 2011, the company reported net earnings of $257 million ($0.59 per share) compared with $316 million ($0.73 per share) in the fourth quarter of 2010. Amounts in all periods include special items.

    Full-year 2011 earnings from continuing operations and before special items were $1.4 billion ($3.10 per share) compared with $890 million ($2.05 per share) in 2010. Earnings from continuing operations and before special items in the fourth quarter of 2011 totaled $288 million ($0.66 per share) compared with $296 million ($0.68 per share) in the fourth quarter of 2010.

    Annual sales totaled $26.0 billion in 2011 compared with $25.2 billion in 2010. Quarterly net sales were $6.4 billion in the fourth quarter compared with $6.5 billion in the fourth quarter of 2010.

    Full-year 2011 operating profits were $2.2 billion compared with $1.7 billion in 2010. Operating profits in the fourth quarter were $577 million compared with $561 million in 2010, both of which included special items.

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  • 02.02.2012

    Tupperware Brands Reports Fourth Quarter 2011 Results

    Tupperware Brands Corporation today reported fourth quarter 2011 sales and profit, with a sales increase in dollars of 3% and 7% in local currency+.

    GAAP net income for the quarter of $86.9 million, or $1.50 per diluted share, compared with 2010 fourth quarter GAAP net income and EPS of $80.7 million and $1.26 per share, respectively.  Adjusted diluted earnings per share of $1.50 in the quarter was 12 cents, or 9%, better than 2010 in U.S. dollars, including a negative foreign currency impact of 7 cents.  Excluding the impact of foreign exchange on the comparison, adjusted diluted earnings per share was up 19 cents, or 15%.

    For the 53 weeks ended December 31, 2011, the Company reported sales of $2.6 billion, a 12% increase in dollars and 9% in local currency compared with 2010.  For the same period, the Company's GAAP net income of $218 million decreased 3%, and diluted earnings per share of $3.55, was up 2 cents or 1% versus prior year.  Excluding certain adjustment items, diluted earnings per share of $4.45 improved 20% in U.S. dollars compared with 2010, and excluding a favorable 11 cent impact on the comparison from foreign exchange rates, improved 16%.

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  • 02.02.2012

    Quad Acquires Commercial and Specialty Printer Williamson Printing Corporation

    Quad/Graphics, Inc., a global provider of print and related multichannel solutions, today announced it has purchased Dallas-based Williamson Printing Corporation, a full-service commercial and specialty products printer specializing in short- to medium-runcatalogs, case-bound books, direct mail and other promotional products.The acquisition expands the company’s growing U.S. network of commercial and specialty print facilities to the Dallas-Fort Worth area, home to one of the largest concentrations of corporate headquarters in the United States.

    “Williamson is an exceptional printing company with a long list of regional and national clients,” said Joel Quadracci, Chairman, President & CEO of Quad/Graphics. “It has a superior reputation for quality, service and innovation, and its experience and success in growing its commercial and specialty printing business will complement our own growth plans for that segment.”

    Williamson’s two Dallas facilities will join Quad/Graphics’ Commercial & Specialty group, which also operates facilities in Burlington, Menomonee Falls and New Berlin, Wis.; Enfield, Conn.; and Leominster, Mass. The group provides publishers, marketers and retailers with specialized print products and services, including specialty books, catalogs and directories; marketing collateral; print-on-demand custom publications; specialty binding; and mailing and fulfillment.

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  • 02.01.2012

    RockTenn Continues to Grow and Invest in Automated Sorting Capabilities for Recycled Materials

    RockTenn announced today the opening of a new single-stream recycling facility in Memphis, TN, expanding the Company’s recycling capabilities and increasing its presence and service capabilities.

    The new 150,000 square-foot facility will complement RockTenn’s established single-stream recycling plants in Chattanooga and Knoxville. The automated, single-stream system allows designated recyclable materials to be fully commingled during collection instead of separated into different bins, a process that offers significant benefits to homes and businesses.

    The opening of the Memphis plant, as the first single-stream facility in the city’s metropolitan area, represents a key investment in RockTenn’s Recycling and Waste Solutions growth plan. This is RockTenn’s ninth single-stream system within its thirty-nine recycling facilities. The Company will continue to expand its recycling powers nationwide in the upcoming year in order to reinforce its commitment to provide easy recycling solutions to better serve customers worldwide.

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  • 02.01.2012

    Neenah Completes Purchase of Premium Brands from Wausau Paper

    Neenah Paper, Inc. announced today completion of the previously announced purchase of certain premium paper brands and other assets from Wausau Paper Corp.

    Key components of the transaction include: A cash payment of $21 million to acquire: Astrobrights®, Astroparche® and Royal brands. Exclusive license rights for a portion of Exact® brand specialty business, including Index, Tag and Vellum Bristol. Approximately one month of finished goods inventory. Converting equipment for retail grades. A supply agreement under which Wausau will manufacture and supply certain products to Neenah Paper during a transition period.

    Annual sales from the purchased brands are estimated to be approximately $100 million and the Company expects to incur one-time costs related to the integration of approximately $10 million.

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  • 02.01.2012

    American Eagle Outfitters to Open Stores Throughout Israel

    American Eagle Outfitters, Inc. today announced that its first store in Israel will open to the public on Thursday, February 2, at Ramat Aviv Mall, in Tel Aviv. Ten additional stores are planned over the next month, in locations such as The Big Mall in Petach Tikva, Kiryat Ono Mall, and Mall of Haifa. The franchise stores will be operated by Fox-Wizel Ltd., a leading retailer and wholesaler in the region.

    AEO has been expanding its international presence for the past three years, now with 21 stores in 10 countries, partnering with retail experts in each region. Today, there are franchise stores open in Russia, China, Hong Kong and various cities throughout the Middle East. The first stores in Japan are slated to open in the coming months.

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  • 02.01.2012

    Ahlstrom posts financial statements bulletin for 2011

    Continuing operations October–December 2011 compared with October–December 2010: Net sales EUR 371.3 million (EUR 416.8 million); Operating loss EUR 4.2 million (EUR 9.0 million loss); Operating profit excluding non-recurring items EUR 1.7 million (EUR 12.7 million).

    Highlights in October–December 2011: Divestment of the Home and Personal business area was concluded except for the Brazilian operation that is expected to be transferred by the end of first quarter 2012. A new vision ‘Inspiring people, passionate about new ideas, growing with our customers’ was introduced to define the kind of company we aim to be in the future. Acquisition of a 49.5% stake in a developer of battery technology Porous Power Technologies, LLC.

    Continuing operations January–December 2011 compared with January–December 2010: Net sales EUR 1,607.2 million (EUR 1,636.3 million); Operating profit EUR 20.1 million (EUR 46.5 million); Operating profit excluding non-recurring items EUR 49.7 million (EUR 66.8 million).

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  • 02.01.2012

    Amazon.com Announces Fourth Quarter Sales up 35% to $17.43 Billion

    Amazon.com, Inc. today announced financial results for its fourth quarter ended December 31, 2011.

    Operating cash flow increased 12% to $3.90 billion for the trailing twelve months, compared with $3.50 billion for the trailing twelve months ended December 31, 2010. Free cash flow decreased 17% to $2.09 billion for the trailing twelve months, compared with $2.52 billion for the trailing twelve months ended December 31, 2010.

    Common shares outstanding plus shares underlying stock-based awards totaled 468 million on December 31, 2011, compared with 465 million a year ago.

    Net sales increased 35% to $17.43 billion in the fourth quarter, compared with $12.95 billion in fourth quarter 2010. Excluding the $101 million favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales would have grown 34% compared with fourth quarter 2010.

    Operating income was $260 million in the fourth quarter, compared with $474 million in fourth quarter 2010. The favorable impact from year-over-year changes in foreign exchange rates throughout the quarter on operating income was $5 million.

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  • 02.01.2012

    Bemis Company Publishes Corporate Responsibility Report

    Bemis Company, Inc. today announced that it has published a Corporate Responsibility Report highlighting Bemis’ sustainable business practices. The report profiles Bemis’ programs and practices that benefit its business in economically viable, environmentally sound, and responsible ways. It is organized across three categories: Economic Sustainability, Environmental Sustainability, and Social Sustainability.

    “As a multinational supplier of flexible packaging and pressure sensitive material, a fundamental component of our strategy is to operate a profitable, ethical company, and be responsible stewards of our environment and communities,” said Henry Theisen, President and Chief Executive Officer of Bemis Company, Inc.  “We will continue our commitment to achieving results and delivering on expectations with character and accountability.”

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  • 02.01.2012

    Billerud to acquire UPM-Kymmene’s packaging paper business

    Billerud Finland Oy, a wholly-owned subsidiary of Billerud AB, has signed an agreement with UPM-Kymmene (UPM) to acquire UPM’s packaging paper business in Pietarsaari and Tervasaari with sales of approximately EUR 220 million (SEK 2 billion) in 2011. Billerud pays EUR 130 million (approximately SEK 1.2 billion) for the business. The acquisition will significantly reduce Billerud’s pulp exposure and strengthen the offering within packaging paper. In addition, the currency exposure is also reduced.

    ”We see great potential in the acquired business as it will now be integrated in a business focused on packaging paper. The acquisition will give us a strong platform to continue developing our offering within smarter packaging solutions. In addition, the acquisition significantly reduces our pulp exposure and adds a much larger Euro cost base, which we view positively.” says Per Lindberg, President and CEO of Billerud.

    The acquisition includes one paper machine in Pietarsaari and one paper machine in Tervasaari, both in Finland. Both machines rank among the largest and most efficient of its kind in Europe and are assessed as well invested and well maintained. The machines produce packaging paper (sack/kraft paper) used in a broad range of areas such as food, retail, construction and other industries. Annual production capacity is approximately 300,000 tonnes. The business has approximately 185 employees. Other activities at the mill sites will remain owned and operated by UPM.

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  • 02.01.2012

    Oil Trades Near One-Week Low in New York on Rising Supplies, U.S. Outlook

    Oil advanced in New York for the first time in four days after China’s manufacturing index unexpectedly rose, boosting speculation that the world’s second- biggest crude consumer is withstanding Europe’s debt crisis.

    Futures gained as much as 0.9 percent after China’s purchasing managers’ index rose to 50.5 from 50.3 in December. The median estimate in a Bloomberg News survey was for a reading below the 50 level that marks the difference between expansion and contraction. Oil fell for a third day yesterday after the government said consumer confidence and business activity cooled in the U.S. Data from the American Petroleum Institute indicated oil stockpiles rose to the highest level since November.

    The “positive” data from China boosted oil after it traded near a one-week low earlier in the session, Andy Riddell, head of retail derivatives at London Capital Group Holdings Plc., said in an e-mail. “Any sign of bad economic numbers coming out of the U.S. will see longs bailing out.”

    Crude for March delivery increased as much as 86 cents to $99.34 in electronic trading on the New York Mercantile Exchange and traded at $99.32 at 11:15 a.m. London time. The contract yesterday declined 0.3 percent to $98.48 a barrel, the lowest close since Jan. 20. Prices slid 0.4 percent in January, falling for a second month.

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  • 02.01.2012

    Catalyst Paper announces initial order under CCAA

    Catalyst Paper Corporation announced today that the company and certain of its subsidiaries have obtained an Initial Order from the Supreme Court of British Columbia under the Companies’ Creditors Arrangement Act (CCAA).  The terms and conditions of the restructuring plan have not yet been determined by the company.

    The company also announced that JP Morgan has agreed to provide debtor-in possession (DIP) financing to Catalyst, which is expected to provide the company with up to approximately $175 million of available capital during the CCAA proceedings.  Advances under the DIP will be available after approval by the Court, which the company expects to obtain on February 3, 2012.  The Initial Order provides the company with access to an amount the company believes is sufficient to fund operations until the Court hearing on February 3, 2012.  The company’s operating revenue combined with the proposed DIP financing are expected to provide sufficient liquidity to meet ongoing obligations to employees and suppliers and ensure that normal operations continue during the restructuring process.  Catalyst management will remain responsible for the day-to-day operations of the company.

    The company intends to apply for recognition of the Interim Order under chapter 15 of title 11 of the US Code.

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  • 02.01.2012

    Domtar enters into an agreement for the sale of its Lebel-sur-Quévillon, Québec assets

    Domtar Corporation today announced that it has signed a definitive agreement with Fortress Global Cellulose Ltd ("Fortress"), and with a subsidiary of the Government of Québec, for the sale of its Lebel-sur-Quévillon assets. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2012.

    "The sale of the Lebel-sur-Quévillon assets to a strategic buyer is a positive outcome for the community and we wish them success for the future," said John D. Williams, President and Chief Executive Officer of Domtar. "The buyer will convert the mill to the manufacture of dissolving pulp and we will support them through this transition by marketing and selling their initial production of paper grade softwood pulp which is contractually limited to a maximum of 100,000 metric tons."

    As per the agreement, all pulp and sawmilling assets including the buildings and equipment will be sold to Fortress for the nominal sum of $1.00 and all lands related to the facilities will be sold to a subsidiary of the Government of Québec for the nominal sum of $1.00.

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  • 02.01.2012

    Hearst and Condé Nast Sell Comag to Jim Pattison Group

    Comag Marketing Group, the Princeton, New Jersey-based national magazine distributor jointly owned by Hearst and Condé Nast, has been sold to the Jim Pattison Group. The deal signals the exit of the two publishers from the magazine distribution business and is being positioned as an effort to heal a newsstand supply chain that's long been fraught with competing interests and inefficiencies.

    Jay Felts will continue as CMG's president and the company's headquarters will remain in Princeton. Michael Korenberg, JPG's vice chairman, will become chairman of CMG. The deal does not include CMG UK, which will continue to be owned by National Magazine Company Ltd. and Condé Nast UK.

    According to Korenberg, Hearst and Condé Nast had not put Comag on the block, but after about a year of conversations, a deal became a more viable option.

    The deal greatly expands JPG's reach into the market. JPG is based in Vancouver, BC and owns wholesaler The News Group, which bought Anderson News' assets when that wholesaler shut down in 2009. The News Group is estimated to have about a 50 percent market share in the U.S.

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  • 02.01.2012

    Portucel announces results for 2011

    In a year marked by a particularly harsh economic climate, the Group recorded turnover of approximately € 1.5 billion, representing growth of 7.4% over the previous year. This increase was due essentially to growth in uncoated woodfree (UWF) printing and writing paper, made possible by rising output from the new paper mill, and by the growth in power output.

    The new UWF paper mill in Setúbal achieved output at year-end 2011 equivalent to 97% of its nominal capacity, producing approximately 485 thousand tons of paper. Growing output allowed the Group to achieve a 7% increase in the quantity of paper placed on the market which, combined with rising paper prices over the course of the year, resulted in overall growth in paper sales of more than 9%.

    Highlights: 2011 compared to 2010: Group turnover grows by 7.4%; Exports of € 1 233 million representing 95% of pulp and paper sales; EBITDA of € 385.1 million; Power output hits 1.9 TWh; Net debt down by € 230 million; Sales of mill brands set new record.

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  • 02.01.2012

    Ilim Group is awarded Proof of Leadership in Forest Management Certification

    Following the results of 2011, Ilim Group was acknowledged as the leader of forest management certification. The respective Proof of Leadership was awarded to Ilim Group by the Russian Branch of the Forest Stewardship Council (FSC). Therefore Ilim Group has proved once again its leadership in forest management certification in Russia. As a reminder, all forest areas leased by Ilim Group, which is over 5.16 million hectares, have been certified by FSC. The Company’s share accounts for 18.4% of all certified forests in Russia.

    A FSC Forest Management Certificate guarantees that only economically sustainable, socially and environmentally responsible forest management methods were used during logging operations, all requirements for reforestation were observed, and the rights of local community and indigenous peoples were fully respected.

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  • 02.01.2012

    Menasha Packaging Announces Acquisition of The Strive Group

    Menasha Packaging Company announced today that it has acquired The Strive Group of Chicago. Both companies are family-owned and privately held. Terms of the transaction were not disclosed.
              
    According to Mike Waite, president of Menasha Packaging, “The acquisition of Strive will enhance our merchandising supply chain model and strengthen our geographic coverage. Customers are increasingly turning to companies that can manage their entire merchandising process and the addition of Strive to Menasha Packaging will improve our offerings and strengthen our competitive position.”  
     
    The acquisition will make Menasha the largest independent in-store promotional solutions provider to retailers and CPGs in the United States as well as strengthen its traditional packaging business. 
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  • 02.01.2012

    UPM to build the world's first biorefinery producing wood-based biodiesel

    UPM is to invest in a biorefinery producing biofuels from crude tall oil in Lappeenranta, Finland. The industrial scale investment is the first of its kind globally. The biorefinery will produce annually approximately 100,000 tonnes of advanced second generation biodiesel for transport. Construction of the biorefinery will begin in the summer of 2012 at UPM’s Kaukas mill site and be completed in 2014. UPM’s total investment will amount to approximately EUR 150 million.

    ”The biofuels business has excellent growth potential. The quality of our end product and its environmental characteristics has gained significant interest among a wide range of customers, and the investment is profitable.  Lappeenranta is the first step on UPM’s way in becoming a significant producer of advanced second generation biofuels. This is also a focal part in the realisation of our Biofore strategy”, says UPM President and CEO Jussi Pesonen.

    UPM ’s advanced biodiesel, UPM BioVerno, is an innovation which will decrease greenhouse gas emissions of transport up to 80% in comparison to fossil fuels. The product’s characteristics correspond to those of the traditional oil-based fuels and highly complement today’s vehicles and fuel distribution systems.

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  • 02.01.2012

    UPM continues to invest in efficient energy generation

    UPM continues to invest in efficient energy generation and builds a new combined heat and power plant at the UPM Schongau mill in Germany. The target is to significantly reduce energy costs as well as to secure the energy supply. The total investment is EUR 85 million.

    The new power plant will generate process heat as well as electricity for the mill. It will also provide sustainable and energy efficient district heating for roughly 750 households and public institutions such as local school and hospital in Schongau. The renewed energy supply at the mill will be based on the highly efficient combined heat and power technology utilising gas as a fuel.

    “The new gas power plant will improve the security and self-sufficiency of energy supply to our mill,” explains Winfried Schaur, General Manager, UPM Schongau. “The renewal of the energy generation ensures efficient production and will safeguard the competiveness of the mill. Furthermore, it guarantees a sustainable paper production loop based on innovative and low-emission technologies.”

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  • 02.01.2012

    Avery Dennison Announces Fourth Quarter and Full-Year 2011 Results

    Avery Dennison Corporation today announced preliminary, unaudited fourth quarter and full-year 2011 results. All non-GAAP financial measures are reconciled to GAAP in the attached tables. Unless otherwise indicated, the discussion of the Company’s results is focused on its continuing operations.

    Fourth Quarter 2011 Results by Segment:  Label and Packaging Materials sales grew compared to the prior year due to the benefit of pricing actions taken to offset raw material inflation. Sales in Graphics and Reflective Solutions grew compared to prior year due to higher volume. Operating margin declined 40 basis points to 6.9 percent as increased raw material costs and costs associated with restructuring were largely offset by the benefit of pricing actions and productivity initiatives. Excluding costs associated with restructuring, operating margin was roughly flat. Retail Branding and Information Solutions (RBIS) Sales declined due to lower unit demand from retailers and brands in the U.S. and Europe reflecting caution about consumer spending. Operating margin declined 180 basis points to 2.7 percent as lower volume and increased costs associated with restructuring were partially offset by the benefit of productivity initiatives. Excluding costs associated with restructuring, operating margin was roughly flat.

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  • 02.01.2012

    Catalyst Paper to fle for creditor protection

    Catalyst Paper Corporation announced today that to facilitate an orderly restructuring of its business and operations, the board of directors of the company has approved a filing for an Initial Order from the Supreme Court of British Columbia to commence proceedings under the Companies’ Creditors Arrangement Act (CCAA).  The terms and conditions of the restructuring plan have not yet been determined by the company.

    The operations of Catalyst and its subsidiaries are intended to continue as usual and obligations to employees and suppliers during the restructuring process are expected to be met in the ordinary course.  Catalyst management will remain responsible for the day-to-day operations of the company.  The company expects that the Interim Order will provide that while the company and its subsidiaries are under CCAA protection, all proceedings on the part of their creditors will be stayed.

    The company previously announced a consensual recapitalization transaction under the Canada Business Corporations Act (CBCA) that had the support of certain of the holders of the company’s 11% senior secured notes due 2016 and 7 3/8% senior notes due 2014 who were parties to a Restructuring and Support Agreement (Agreement). The Agreement provided that, among other conditions, the recapitalization transaction was subject to the following two conditions being met by January 31, 2012: (a) a new labour agreement ratified by all six union locals at the company’s BC mills and (b) two-thirds support of all 2014 and 2016 noteholders. Since these conditions will not be met, the company will not be proceeding with a recapitalization under the CBCA.

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  • 01.31.2012

    Crude Oil Heads for Monthly Gain on Signs of EU Progress, Tension in Iran

    Oil headed for the third monthly gain since September after Greece’s Prime Minister said debt- swap talks in have made progress, easing concern that Europe’s sovereign debt turmoil will curb demand.

    Futures increased as much as 1.1 percent in New York after slipping yesterday to the lowest settlement in more than a week. Crude also rallied as equities gained and the dollar weakened after Greek Prime Minister Lucas Papademos said following a European Union summit in Brussels that he is committed to debt- swap talks with bondholders. Speculation that sanctions may reduce oil exports from Iran heightened as international nuclear inspectors met with officials in Tehran.

    “There’s risk-on this morning,” which is lifting equities and commodities, said Ole Hansen, a senior manager of trading advisory at Saxo Bank A/S in Copenhagen. “We’ve got a host of geopolitical situations among the major producers and that will keep the market supported,” he said, citing Iran tensions and output halts in South Sudan and Nigeria.

    Crude for March delivery gained as much as $1.21 to $99.99 a barrel in electronic trading on the New York Mercantile Exchange. It was at $99.81 at 10:34 a.m. London time. The contract yesterday fell 78 cents to $98.78, the lowest closing level since Jan. 20. Prices have risen 1 percent this month and are headed for their biggest January gain since 2006.

    Brent oil for March settlement advanced $1.01, or 0.9 percent, to $111.67 a barrel on the London-based ICE Futures Europe exchange for a gain of 4.1 percent this month.

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  • 01.31.2012

    Champion Reports Net Loss for Quarter, Fiscal Year

    Champion Industries announced a net loss of $4.0 million for the year ended Oct. 31, 2011, compared to net income of $0.5 million for the year ended Oct. 31, 2010. The company reported a net loss of $5.4 million for the quarter ended Oct. 31, 2011, compared to net income of $0.9 million for the same quarter of 2010.

    On a core net income basis, Champion reported net income of $1.0 million for the years ended Oct. 31, 2011 and 2010. Core net income is defined as net loss income as reported, adjusted for restructuring and other charges, non-cash impairment charges, gain on early extinguishment of debt from a related party and interest rate swap.

    The results for 2011 over 2010 reflected a substantial decrease in earnings, primarily as a result of non-cash impairment related charges associated with goodwill, trade name and masthead in the amount of $8.7 million or $5.4 million net of tax on a basic and diluted basis. The impairments are a result of the acquisition of The Herald-Dispatch daily newspaper in 2007.

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  • 01.31.2012

    Plum Creek Reports Results for Fourth Quarter and Full Year 2011

    Plum Creek Timber Company, Inc. today announced fourth quarter earnings of $61 million, or $0.38 per diluted share, on revenues of $315 million. Earnings for the fourth quarter of 2010 were $59 million, or $0.37 per diluted share, on revenues of $356 million. Earnings for the fourth quarter of 2010 include a $13 million, or $0.08 per diluted share, loss on the early extinguishment of debt.

    Earnings for the full year of 2011 were $193 million, or $1.19 per diluted share, on revenues of $1.17 billion. Earnings for the full year of 2010 were $213 million, or $1.31 per diluted share, on revenues of $1.19 billion. Results for the full year of 2010 include an $11 million, or $0.07 per diluted share, after-tax gain on the first-quarter sale of certain natural gas assets. As a result, income from continuing operations for 2010 was $202 million, or $1.24 per diluted share.

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  • 01.31.2012

    Sappi Fine Paper North America Launches 2011 Sustainability Report

    Sappi Fine Paper North America today announced the launch of its 2011 Sustainability Report, the company's first ever regional report focusing on its environmental and social responsibility performance. The report illustrates how sustainability is fundamental to Sappi's business strategy and future success, underscoring its commitment to corporate transparency. Showcasing the company's strong sustainability performance in North America, the report demonstrates that Sappi is not only leading the industry in sustainability metrics but is also raising the bar on future sustainability goals to advance change in the marketplace. Among its most recent initiatives, Sappi has extended its participation in a pilot project in Maine with the Sustainable Forestry Initiative®. It has also become a member of the Forest Stewardship Council™(FSC®) to support sustainable forestry through chain of custody certification.

    Sappi Fine Paper North America's 2011 Sustainability Report highlights the company's performance against its current five-year goals and outlines new five-year goals, which measure Sappi's impact on the environment; its social responsibility to employees, customers and constituents in the communities in which we operate; and its prosperity as a business. These goals were designed by Sappi to establish best practices across the company and produce results in key areas of public concern and operational impact.

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  • 01.31.2012

    The McGraw-Hill Companies Reports 17% Increase in Adjusted Diluted 4Q EPS of $0.63

    The McGraw-Hill Companies today reported adjusted diluted earnings per share of $0.63 from continuing operations in the fourth quarter of 2011, an increase of 17% compared to $0.54 for the same period in 2010. On an as reported basis, diluted earnings per share of $0.47 from continuing operations in the fourth quarter of 2011 decreased 4% compared to $0.49 for the same period in 2010.

    Excluded in 2011 from fourth quarter earnings per share were a $66 million restructuring charge for severance related to a workforce reduction of approximately 800 positions and $10 million in one-time separation expenses necessary to complete the Growth and Value Plan.  Excluded in 2010 from fourth quarter earnings per share were restructuring and lease impairment charges of $27 million.

    On an adjusted basis, net income from continuing operations in the fourth quarter of 2011 grew by 10% to $184 million.  Revenue in the fourth quarter increased by 2% to $1.5 billion.

    For the full year 2011, adjusted earnings per share were $2.91, a 9% increase compared to adjusted earnings per share of $2.68 in 2010.  The 2011 results exclude a $66 million restructuring charge and $10 million in separation expenses for the Growth and Value Plan.  The 2010 results exclude restructuring and lease impairment charges of $27 million and gains on divestitures of $11 million.  On an as reported basis, full year 2011 diluted earnings per share from continuing operations were $2.75, a 4% increase compared to $2.64 in 2010.  On an adjusted basis, net income from continuing operations in 2011 grew by 6% to $883 million.  Revenue in 2011 increased by 3% to $6.2 billion.

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  • 01.31.2012

    China promotes recycled paper and a reduction in paper consumption

    China will promote recycling paper and reducing its use in order to save resources and protect the environment, according to the country's new five-year plan for its paper industry.

    The authorities should urge people to cut back on using high-quality paper such as sheets with high whiteness, said the country's 12th Five-Year Plan (2011-2015) for the Paper Industry, released last week.

    Current paper product standards should be revised to encourage the production of energy-saving and emission-reducing paper, and promote the substitution of paper packaging for alternatives, said the plan.

    The plan requires government purchasers to give priority to paper products mixed with waste paper, and to reduce paper use by switching to digital systems.

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  • 01.31.2012

    UPS Delivers Record 4Q Results

    UPS today announced fourth quarter 2011 adjusted diluted earnings per share of $1.28, a 21% improvement over the prior-year period. Total revenue increased 6% to $14.2 billion and adjusted operating profit climbed 17% to more than $2 billion.

    Last Friday, the company announced a change in pension accounting to a mark-to-market methodology. Adopted in the fourth quarter of 2011 and applied retrospectively, this new method resulted in after-tax charges in 2011 and 2010 of $527 million and $75 million, respectively. Also, in the prior-year period, UPS recorded a net after-tax gain of $32 million from the sale of certain non-core business units in the Supply Chain and Freight segment. On a reported basis, fourth quarter 2011 diluted earnings per share were $0.74, a decline of 28% from the same quarter last year.

    For the full year 2011, UPS achieved a new high in adjusted diluted earnings per share at $4.35. On a reported basis, diluted earnings per share were $3.84.

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  • 01.31.2012

    Potlatch Reports Fourth Quarter and Full Year 2011 Results

    Potlatch Corporation today reported financial results for the fourth quarter and full year ended December 31, 2011.
    "Economic conditions remained challenging throughout 2011, which is reflected in our fourth quarter and full year results," said Michael Covey, chairman, president and chief executive officer of Potlatch Corporation. "For full year 2011, earnings from continuing operations were $40.3 million, which was comparable to 2010. In our Resource segment, we experienced varying conditions between our regions. Demand remained strong in our Northern region, which kept timber prices and harvest volumes at favorable levels. In fact, we were even able to shift a portion of our harvest from the Southern region to the Northern region to capture better pricing opportunities. In our Southern region, fiber availability due to dry weather kept prices depressed most of the year, which was the primary driver of our harvest deferral. Wood Products had a solid year, with operating income and shipments comparable to last year, and Real Estate had another very good year in 2011, with four large non-strategic timberland sales and continued steady demand for HBU and rural real estate properties," concluded Mr. Covey.
    Q4 2011 FINANCIAL SUMMARY: In Q4 2011, Potlatch had a loss from continuing operations of $1.5 million, or a loss of $0.04 per diluted common share, compared to earnings from continuing operations of $8.9 million, or $0.22 per diluted common share in Q4 2010. In Q4 2010, the company completed a non-strategic timberland sale of approximately 29,000 acres in Wisconsin and 17,400 acres in Arkansas to RMK Timberland Group, a timber investment management organization, for $36.1 million, which provided $0.16 of non-recurring positive EPS impact.
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  • 01.30.2012

    Gannett Co., Inc. Reports Fourth Quarter and Full Year Results

    Gannett Co., Inc., a leading international media and marketing solutions company, today reported fourth quarter and full year 2011 financial results.  Highlights are summarized below:

    Earnings per diluted share, on a GAAP (generally accepted accounting principles) basis were $0.49 for the fourth quarter of 2011 compared to $0.72 for the fourth quarter last year.

    Earnings per diluted share from continuing operations for the 2011 fiscal year were $1.89 compared to $2.35 for 2010.

    Excluding special items in 2011 and 2010, fourth quarter earnings per diluted share were $0.72 compared to $0.83 for the same quarter in 2010.

    Earnings per diluted share excluding special items for the 2011 fiscal year were $2.13.

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  • 01.30.2012

    Oil Falls a Second Day on Speculation EU Talks May Fail to Resolve Crisis

    Oil dropped for a second day in New York on speculation that European Union leaders meeting today may fail to resolve the region’s debt crisis, while OPEC’s secretary-general said the market is well-supplied.

    Futures slipped as much as 0.9 percent as stocks dropped and the dollar strengthened. EU chiefs will gather in Brussels today to complete a German-led deficit-control treaty and endorse a 500 billion-euro ($660 billion) rescue fund. Hedge funds and other large speculators increased wagers on rising crude prices, the Commodity Futures Trading Commission’s Commitment of Traders report on Jan. 27 showed.

    “The market is taking off risk before the meeting,” said Thina Saltvedt, an analyst at Nordea Bank AB in Oslo, who predicts Brent crude will average $107 a barrel this quarter. “Ahead of this meeting, sentiment is less optimistic.”

    Crude for March delivery fell as much as 85 cents to $98.71 a barrel in electronic trading on the New York Mercantile Exchange. It was at $98.89 at 10:26 a.m. London time. The contract lost 14 cents to $99.56 on Jan. 27. Prices are 0.1 percent higher this month.

    Brent oil for March settlement was at $110.95 a barrel, down 51 cents, on the London-based ICE Futures Europe exchange.

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  • 01.30.2012

    Catalayst Paper Announces Crofton Unions Voting Results

    Catalyst Paper Corporation advised today that at votes taken this weekend, one union local at the Crofton mill voted down a new labour agreement while the other union local voted to support a new labour agreement. Unanimous ratification of a new labour agreement by January 31, 2012 is a condition of the company’s recapitalization transaction announced on January 14, 2012.

    Local 2 of the Pulp, Paper and Woodworkers Union of Canada (PPWC) voted down the new labour agreement at a ratification meeting on Saturday. PPWC represents approximately 380 employees at the Crofton pulp mill.

    On Friday, Communications, Energy and Paperworkers Union of Canada (CEP) local 1132 voted to support the new labour agreement, joining locals 1, 76, 592 and 686 which had earlier ratified the agreement to take effect at expiry of the current agreement April 30, 2012. The CEP locals represent 700 employees at the company’s Crofton, Powell River and Port Alberni paper mills. Details of the proposed agreements are not being disclosed at this time.

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  • 01.30.2012

    Catalyst Paper gains additional support for recapitalization – extends early consent date

    Catalyst Paper Corporation announced that it has gained additional support for the proposed recapitalization transaction and now has the support of holders of approximately 79.47% of the company’s 11% senior secured notes due 2016 (the Senior Secured Notes) and holders of approximately 54.96% 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 to the Agreement) 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.

    The company also announced that it has extended the early consent date to 6:00 p.m. (Eastern) on January 30, 2012.  Under the Agreement, a holder of Senior Notes that signs the Agreement (or a joinder to the Agreement) on or before the early consent date is entitled to receive its share, pro rata with other holders of Senior Notes who sign on or before the early consent date, of 4.5% of the company’s common shares.  These shares are in addition to the pro rata share of 15% of the company’s common shares and warrants that all holders of Senior Notes are entitled to receive under the recapitalization.

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  • 01.30.2012

    International Paper, Temple-Inland Extend DOJ Review Period

    International Paper Company and Temple-Inland Inc. today announced that they have agreed to extend the U.S. Department of Justice's ("DOJ") review period with respect to International Paper's acquisition of Temple-Inland until February 13, 2012 to provide the parties with time to enter into binding documentation to resolve the DOJ's concerns with respect to the pending transaction.

    International Paper Chairman and CEO John Faraci said, "We have been working constructively with the DOJ to address their concerns and anticipate entering into a definitive agreement on terms that are acceptable to all parties.  The acquisition of Temple-Inland is a compelling value proposition for International Paper shareholders, and will create numerous benefits for our customers and employees."

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  • 01.30.2012

    Cenveo Announces Agreement to Sell Forms and Business Documents Group to Ennis, Inc.

    Cenveo, Inc. today announced that it has agreed to sell its Forms and Business Documents Group to Ennis, Inc., manufacturer of printed business products & apparel headquartered in Midlothian, Texas. The divestiture of the Documents Group, including the Printegra and PrintXcel brands, to Ennis is expected to better position the business for continued growth and success. The sale is expected to close during February 2012. Terms of the transaction were not disclosed.

    Robert G. Burton, Sr., Chairman and Chief Executive Officer stated: "Cenveo's Documents Group has built its leading position and strong reputation on producing business forms and document products to meet a variety of business customer needs. This divestiture allows Cenveo to focus on our core operations including labels, specialty packaging, envelopes, print and content management. We remain committed to executing our game plan of operating niche growth businesses while using our cash flow to invest in and grow our higher margin product groups and de-leveraging our balance sheet to achieve our stated leverage targets by the end of next year. I look forward to sharing our fourth quarter results and outlook for 2012 when we release earnings next month."

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  • 01.30.2012

    Kappa Books Acquires Modern Publishing

    Kappa Books announced Thursday that it has acquired Modern Publishing, a division of Unisystems that has been in the coloring and activity business for more than 40 years. The two companies’ operations will be merged, but Kappa will retain the Modern name and will market Modern’s line of mass market children’s books through a new division headed by longtime Modern president Andrew Steinberg.

    “We decided it’s time,” Steinberg says. “It’s become more and more challenging to do what we do. We wanted a partner that understood the business and could make it work. They have the printing strength and the distribution strength, and we have the licensing strength. It’s about taking both of our skill sets and merging them.”
     
    Kappa’s core business is puzzle books, but it also sells reference titles and some coloring, activity, story and other children’s books. It holds the Sesame Street license for a line of board books, as well as Woman’s Day, Chicken Soup for the Soul, and TV Guide for puzzle book series. The acquisition will add Modern’s Lisa Frank, Fisher Price, Hot Wheels, Zhu Zhu Pets, Hello Kitty, Smurfs, Lalaloopsy, and other licenses to Kappa’s portfolio.

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  • 01.30.2012

    ThermoSafe(R) Brands Announces Price Increase

    ThermoSafe Brands, a business unit of Sonoco, announced a price increase of 4 -7 percent across most of its product portfolio, effective March 5, 2012. This price increase will affect all expanded polystyrene (EPS) and polyurethane (PUR), including custom and cataloged shipper solutions and components globally.

    The price increase is necessary to cover rising costs in raw materials, labor, energy and transportation. "At ThermoSafe, we continually invest in our operations, technology, people and infrastructure to ensure we offer industry leading solutions, products and services at competitive prices," stated Mary Kate Phillips, director of North American Sales. "Despite our efforts to offset cost increases through Lean initiatives, we reached a point where we must raise prices to offset the ongoing inflation in our costs."

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