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03.20.2012
Catalyst Paper reached new labour agreements with unions representing more than 1,000 paper and pulp workers at the company’s Crofton, Port Alberni and Powell River mills. The new contracts will go into effect at the expiry of the current contract on April 30, 2012.
“Approval of the new labour agreements lets everyone know that the people who make up Catalyst are taking the actions necessary to save jobs and ensure we have a viable and competitive business for the future,” said Kevin J. Clarke, President and Chief Executive Officer. “We appreciate there is still an enormous amount of work to do to complete the restructuring plan that will enable the company to exit creditor protection on solid footing going forward.”
The agreements which will be effective from May 1, 2012 to April 30, 2017 include a 10% reduction in hourly rates along with various adjustments to vacation, health benefits and work rules necessary to provide Catalyst with a competitive labour cost structure. The agreements also maintain hourly retiree health benefits. Annual savings in the range of $18 to $20 million are expected.
The Communications, Energy and Paperworkers Union of Canada (CEP) locals 1, 76, 592, 686 and 1132 represent 700 employees at the three mills; the Pulp, Paper and Woodworkers Union of Canada (PPWC) local 2 represents approximately 380 employees at the Crofton pulp mill.
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03.19.2012
Premier Darrell Dexter today, March 16, announced further investments in the former NewPage Mill that will protect hundreds of jobs in the Strait area.
These investments will extend the Forestry Infrastructure Fund, and will keep the mill in its "hot idle" state until the end of September.
"My main concern is for the workers, families, and businesses in the Strait," said Premier Dexter. "Although negotiations with Stern Group are taking longer than hoped, I am optimistic that we will secure a deal that will see the mill back in business in this community and sustainable for years to come."
An operating mill would provide about 330 direct and 600 indirect jobs in woodlands, sawmills, power generation and other indirect industries. Re-opening the mill would also help to retain about 500 spinoff jobs in the community.
The Forestry Infrastructure Fund, also known as the Woodlands Action Plan, has been in place since September to support NewPage's supply chain and keep the mill re-sale ready. This fund has kept hundreds of people working and has helped maintain a contractor base in the region.
The province's total investment, including new funds, will include:
-- Up to $9 million for the Forestry Infrastructure Fund to maintain the mill's supply chain until the end of September after recoveries from logging sales. This new investment will come from jobsHere, the province's plan to grow the economy.
-- A new provincial investment of $5.8 million will ensure the mill continues to be re-sale ready in "hot idle".
-- Funding announced today totals $14.8 million. This brings the total new investment to protect jobs at the mill since 2011 to $27.3 million.
The province will also allow the mill to access another $10 million provided under a May 2006 agreement with Stora Enso signed by the previous government.
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03.19.2012
Total newspaper advertising revenue in the U.S. suffered its sixth straight yearly decline last year, according to data released by the Newspaper Association of America. Total newspaper ad revenue dropped 7.3%, to $23.9 billion, last year compared with 2010. In the same time frame, newspaper print advertising fell 9.2%, to $20.7 billion, while online revenue increased 6.8%, to $3.2 billion.
In the fourth quarter of last year, total newspaper ad revenue dropped 6.7%, to $6.8 billion, compared with the year-earlier period, marking the 22nd consecutive quarterly decline. Newspaper print revenue fell 8.0%, while online revenue increased 3.1%, to $905 million.
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03.19.2012
Adobe Systems Incorporated today unveiled the addition of cross-visit analytics and other cutting-edge capabilities to Adobe® Discover, an advanced analytics and segmentation solution within the Adobe® Digital Marketing Suite. Cross-visit analytics enables digital marketers to see a visitor’s journey within the marketers’ Web properties beyond single online sessions, giving those marketers a more accurate view of the overall visitor experience.
“Consumers don’t interact with their favorite sites in discrete, unconnected visits,” said Matt Langie, director of product marketing, Digital Marketing Business, Adobe. “They do a search and hit your home page, read reviews, leave, get an email offer, price compare, come back and finally convert. The diversity and complexity of any one visitor’s experience over time yields very different insights than looking at each visit as a distinct, separate experience. Adobe Discover provides analytics that mirror the actual visitor experience.”
Discover also provides a clearer understanding of fallout, the reasons why purchases or conversions do not take place. With insight across visits within their properties, including why customers leave without converting, companies can more accurately allocate marketing spend to activities that will generate the most return on investment.
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03.19.2012
Oil declined from the highest price in a week in New York after data showed Saudi Arabian crude output at close to the largest level in three decades.
Futures fell as much as 0.5 percent after climbing the most in more than three weeks on March 16. Saudi Arabia, the largest producer in OPEC, pumped 9.87 million barrels a day in January, according to data submitted to the Joint Organization Data Initiative. Oil also retreated today as the dollar advanced versus the euro, undermining investor appetite to protect against inflation. Bank of America Corp. raised price forecasts for this year amid reduced supply.
“There’s no immediate supply shortage,” said Andrey Kryuchenkov, an analyst at VTB Capital in London, who correctly predicted last month that prices had peaked in the short-term. “As Brent gets past $120, market participants start worrying about demand and hence you’re getting extremely choppy trading at the moment. It’s unlikely we’ll see a sustained push higher from here.”
Oil for April delivery was at $106.86 a barrel, down 20 cents, in electronic trading on the New York Mercantile Exchange at 9:28 a.m. London time. The contract, which expires tomorrow, climbed 1.9 percent to $107.06 on March 16, the highest close since March 9. The more actively traded May future dropped 20 cents to $107.38 today.
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03.19.2012
Colorfx is pleased to announce the acquisition of Demco Printing, based in Boyden, IA, from Dethmers Manufacturing Company. Demco Printing offers top quality digital, sheetfed, and web printing along with complete finishing services. With over 30 years of experience and state of the art technology, Demco will further expand the geographic reach and service capabilities of Colorfx and its sister company Rock Communications.
“We are excited to partner with Demco and their customers to provide comprehensive communications solutions. The addition of their Boyden plant will enhance our geographic reach, and expand our already robust manufacturing capabilities. Further, Demco customers will now have access to a more complete set of marketing services such as design, photography, mail presorting and processing, as well as social and digital media marketing” said Jon Troen, President of Rock Communications and Colorfx.
Dethmers Manufacturing President, Bob Koerselman, says, “For most of us, we’ve known Demco Printing to be an integral part of Demco for many years, as well as this staff being members of the 'Demco Family.' As some of us 'long termers' have known, printing started out as nothing more than a single AB Dick press, today, you now are part of a very successful, vibrant and diverse full scale print shop.
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03.19.2012
MOD-PAC CORP., a manufacturer of custom and stock paperboard packaging and provider of personalized print products, today announced financial results for its fourth quarter and year ended December 31, 2011.
In the fourth quarter of 2011, revenue increased $1.8 million, or 13.7%, to $14.6 million from $12.8 million in the fourth quarter of 2010. Each of the Company’s product lines contributed to the revenue growth. Net income was $0.4 million, or $0.12 per diluted share, compared with $0.2 million, or $0.07 per diluted share, in the fourth quarter of 2010. The higher net income reflects positive leverage from higher sales, offset by negative product mix and continued raw material pricing pressures. The prior year fourth quarter includes a $178 thousand, or $0.05 per diluted share, charge for impaired asset write-downs.
Total revenue for 2011 was $56.2 million compared with $48.7 million in 2010, reflecting higher folding carton sales and improved waste sales due to a recovery in the recycling market. Net income increased 43.3% to $1.9 million, or $0.55 per diluted share, in 2011 from $1.3 million, or $0.37 per diluted share, in 2010. Higher revenue along with productivity and cost reduction initiatives drove the net income increase.
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03.19.2012
Tembec announced today a $190-million capital investment to upgrade its specialty cellulose manufacturing facility at Temiscaming, Québec. This investment will increase annual production of green electricity by up to 40 megawatts, reduce sulfur dioxide emissions by 70%, increase Temiscaming’s annual production capacity of specialty cellulose by 5,000 metric tonnes, and make Temiscaming one of the world’s lowest-cost specialty cellulose manufacturing facilities.
This project is the first phase of a two-phase investment plan for the facility. It will involve the replacement of three old boilers with a new high-pressure boiler designed to burn waste sulfite liquor, a co-product of the specialty cellulose manufacturing process, producing green steam for use at the facility. The project also calls for the installation of a new electricity turbine that will be driven by this steam. The turbine
will increase the Temiscaming facility's green electricity production capacity from its current 10 megawatts to, eventually, 60 megawatts. The boiler is scheduled to start up in December 2013, followed by the turbine, in May 2014.
Hydro-Québec will offtake the additional green electricity produced by this turbine under a 25-year contract at $106 MW/hour, indexed with CPI, which will strengthen and stabilize Tembec’s revenues through the economic cycle.
The $190-million investment in Phase 1 will be financed with $105 million of new debt, which includes a $75-million loan from Investissement Québec; the balance of $85 million will come from free cash flow from Tembec operations.
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03.19.2012
UPM strongly believes that printed and digital channels complement each other, with paper assuming its natural role within the modern media palette. UPM Paper is bringing together its experts and visionary cooperatives at drupa trade fair in May to showcase exciting examples of combining print and digital channels – providing inspiration and solutions to all those in the media industry.
Print is effective. Need proof? - According to research, print is and remains an extremely powerful advertising medium. So how can you convince advertisers? Participate in UPM’s drupa demo sessions to discover modern ways to engage readers by using print.
Quick Response codes offer real engagement for both brands and readers. By scanning a code with their smart phone readers are able not only to get additional information on their mobile devices, but also able to for instance share contents and make online purchases. For brand owners the ability to collect code data and measure the direct effects of printed channels down to detail demonstrates print marketing effectiveness.
The third dimension - You can find 2D codes across a range of our UPM materials, such as our new Product Catalogue 2012, printed samples and our exhibition invitation. With codes you can pre-register for an appointment on our drupa 2012 stand or check technical specifications of UPM products from our Online Product Catalogue.
Another way to take advantage of the combination of print and digital is to use NFC, (Near Field Communication) tags. At the UPM stand you can test how this works by interacting with our World Design Capital Helsinki posters and stickers. Their tags provide access to the mobile site, m.wdchelsinki2012.fi.
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03.19.2012
United Parcel Service, Inc. and TNT Express N.V. today jointly announce that they have reached agreement on a recommended all-cash public offer of EUR 9.50 per ordinary share by UPS for TNT Express (the "Offer"). TNT Express' Executive and Supervisory Boards unanimously intend to support and recommend the Offer.
The offer price of EUR 9.50 (including any dividend or other distribution other than the financial year 2011 final dividend payment not exceeding EUR 0.004 per share) represents a 53.7% premium to TNT Express' unaffected share price on February 16, 2012 of EUR 6.18, the day before TNT Express and UPS announced their ongoing discussions. The Offer values the issued and outstanding share capital of TNT Express at EUR 5.16 billion ($6.77 billion1).
The combination of UPS and TNT Express will create a global leader in the logistics industry, with annual revenues of more than EUR 45 billion ($60 billion1) and will deliver significant benefits for the shareowners, customers, employees and other stakeholders of both companies.
Together, UPS and TNT Express will offer customers an enhanced, integrated global network that will provide greatly enhanced service to customers throughout the world. In addition, the two companies are a strong cultural fit given their intense focus on customer service, operational excellence, employee engagement and good corporate citizenship.
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03.19.2012
The sustainability movement is approaching a tipping point, with seven out of 10 companies now placing it on their permanent management agenda, according to a new report.
"I think some of the important findings are that sustainability has continued to progress from something that was on the fringe of management to being a fairly core issue now," said Martin Reeves, senior partner and managing director for the Boston Consulting Group (BCG). "When you have two-thirds of companies saying they´re planning to do more, it´s essential for competitiveness across sectors à it´s a turning point in the sense that sustainably has become a mainstream management issue."
More than 4,000 managers from 113 countries were surveyed for BCG´s and the Massachusetts Institute of Technology Sloan Management Review´s "2011 Sustainability & Innovation Global Executive Study and Research Project." The survey focused on the nearly 3,000 executives from the commercial sector.
According to the respondents, 70% of companies have put sustainability permanently on their management agendas. Two-thirds said sustainability was necessary to being competitive in today´s marketplace, up from 55% in the previous year´s survey.
"What´s been a little surprising is that that momentum has continued through the great recession," said Reeves, one of the study´s co-authors and leader of BCG´s Strategy Institute. "We haven´t really seen a slowing down of commitments."
Increasing commitment to sustainability initiatives is happening despite an underwhelming economy, the report found, with 68% saying their organization´s commitment to sustainability has increased in the past year. In 2009, just 35% of companies said this was the case.
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03.19.2012
Hastings Entertainment, Inc., a leading multimedia entertainment retailer, today reported results for the three months and fiscal year ended January 31, 2012. Net loss was approximately $8.4 million, or $1.00 per diluted share, for the three months ended January 31, 2012 compared to net earnings of approximately $3.8 million, or $0.43 per diluted share, for the three months ended January 31, 2011. Net loss was approximately $17.6 million, or $2.05 per diluted share, for the fiscal year ended January 31, 2012 compared to net earnings of $1.7 million, or $0.18 per diluted share, for the fiscal year ended January 31, 2011.
Earnings before interest, taxes, property and equipment depreciation expense and amortization ("EBITDA") was approximately $5.8 million for the three months ended January 31, 2012 compared to $10.9 million for the three months ended January 31, 2011. Adjusted EBITDA, which excludes gift card breakage revenue, stock compensation expense, store asset impairment expense, abandoned lease expense and impairment of goodwill, was approximately $9.2 million for the three months ended January 31, 2012 compared to $11.6 million for the three months ended January 31, 2011. EBITDA was approximately $5.7 million for the fiscal year ended January 31, 2012 compared to $20.7 million for the fiscal year ended January 31, 2011. Adjusted EBITDA was approximately $9.3 million for the fiscal year ended January 31, 2012 compared to $21.3 million for the fiscal year ended January 31, 2011.
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03.19.2012
Effective with all shipments on or after April 16, 2012, Flambeau River Papers will increase the transaction price for the following grades of paper as follows: FRP Envelope Papers +$3.00/cwt; FRP Laser Bond Papers +$1.50/cwt
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03.19.2012
Webcrafters, a book manufacturing company at 2211 Fordem Ave., says it will cut staffing by at least 15 percent by fall because of reduced market demand.
With about 540 employees, jobs for at least 81 people will be cut. The company plans to offer "generous voluntary separation packages" as a first option, to minimize the number of involuntary reductions that will have to be made, President and CEO Jac Garner said in a statement Thursday.
Positions in manufacturing, office work and supervision will be affected.
Changes in technology, with more online content and electronic publishing of books, coupled with lower funding for printed educational materials by state and local governments due to tight budgets, led to the loss of business, company officials said.
More publishing work also has become more automated, by clients using Webcrafters' high-speed, digital inkjet press.
Founded as a printing business in 1868, Webcrafters primarily serves the educational book market. It also has clients in the atlas, trade and catalog industries.
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03.16.2012
Effective with all shipments on or after April 16, 2012, Gorham Paper & Tissue, LLC will increase the transaction price for the following grades of paper by $3.00/cwt: Gorham Offset Papers; Gorham Reply Card Papers; Gorham Tablet Papers; All other Gorham offset related grades
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03.16.2012
Mohawk Fine Papers, Inc. announces the transition for its sourcing of cast coated products from the Kromekote brand to Chromolux, manufactured by M-real. Mohawk expects to begin accepting orders in August. During the transition period, Mohawk will continue to support sales of Kromekote until current inventories are depleted.
Mohawk will offer Chromolux for traditional commercial printing, and will launch new Chromolux digital papers to complement its industry leading product and service offering in the rapidly growing digital printing market. "Cast coated papers play a key role in our product offering and we intend to create a world-class line up for every leading print platform," said Thomas D. O’Connor, Jr., Chairman and Chief Executive Officer, Mohawk Fine Papers. "We are happy to announce this partnership with a globally recognized brand and to be working with the M-real organization. This partnership is strategic to our growth plan."
The broad portfolio of papers and boards for label, packaging and graphic applications available from Chromolux combined with Mohawk's know-how and extensive distribution network will realize a much deeper resource for the industry in the coated paper segment, and is expected to create new opportunities for both partners.
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03.16.2012
AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that it has received a favorable decision from the federal Minister of Industry, following his review of the Company's proposed acquisition of Fibrek Inc. under the Investment Canada Act.
The offer to acquire all of the issued and outstanding shares of Fibrek made by Resolute, together with RFP Acquisition Inc., a wholly-owned subsidiary, is more fully described in the offer circular and other ancillary documentation that Resolute filed on December 15, 2011, on the "SEDAR" website maintained by the Canadian Securities Administrators, as varied and extended. The offer will expire at 5:00 p.m. (Eastern Standard Time) on March 19, 2012, unless it is extended or withdrawn by Resolute.
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03.16.2012
The American Forest & Paper Association released its February 2012 U. S. Containerboard Statistics Report today. Containerboard production gained 6% over the same month last year. Production was down, losing 5.5% compared to January 2012, however, the month over month average daily production increased of 1.1%. The containerboard operating rate for February 2012 gained 1.0 point over January 2012, increasing from 95.2% to 96.2%.
Additional key findings from the report include: Linerboard production was up 6.5% · Medium production also saw an increase.
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03.16.2012
The American Forest & Paper Association released its February 2012 Kraft Paper Sector Report today. Total Kraft paper shipments were 121.0 thousand tons, a decrease of 8.4% compared to February 2011. Total inventory was 82.8 thousand tons this month.
Additional key findings from the report include: Total Unbleached Kraft shipments decreased compared to February 2011, but increased when compared to last month. Total Bleached Kraft shipments stayed constant compared to last February.
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03.16.2012
Oil fell for the third time in four days on reports that President Barack Obama discussed a release from the U.S. Strategic Petroleum Reserve with U.K. Prime Minister David Cameron.
Futures declined 0.3 percent as Jay Carney, the White House press secretary, said the leaders reached no agreement. The price dropped as much as 1.6 percent in intraday trading after Reuters reported that two people it didn’t name said the U.K. has decided to cooperate with the U.S. on a supply release with gasoline pump prices over $3.80 a gallon.
“The market took a massive tumble on the rumors of a SPR release,” said Stephen Schork, president of the Schork Group in Villanova, Pennsylvania. “It makes sense that they would be planning a release now. We will have to see if the bears can continue to keep us lower.”
Crude oil for April delivery declined 32 cents to $105.11 a barrel on the New York Mercantile Exchange. It was the lowest settlement since March 6. Futures are up 6.4 percent this year.
Brent oil for April settlement fell $1.42, or 1.1 percent, to end the session at $123.55 a barrel on the London-based ICE Futures Europe exchange. The contract expired today. May futures slipped $1.98, or 1.6 percent, to $122.60.
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03.16.2012
The American Forest & Paper Association released its February 2012 U.S. Paperboard Report today. Total boxboard production increased by 2.0% compared to February 2011, but decreased 2.5% from last month.
Unbleached Kraft Folding production increased over the same month last year, and increased compared to last month. Total Solid Bleached Boxboard & Liner production increased compared to February 2011, but decreased compared to last month. The production of Recycled Folding decreased compared to February 2011, and decreased when compared to last month. Inventory of Solid Bleached Kraft Paperboard decreased over a year ago.
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03.16.2012
When the early metrics surrounding user engagement with digital magazines first came in nearly two years ago, they struck many of us as hard to believe. But there they were. After all, we had witnessed a decade and a half of digitized media fragmenting not focusing user attention. In many cases the early research was showing that readers of enhanced magazines in apps were spending almost as much time per issue as print readers spent with their analog copies. This was especially surprising given the notoriously short attention spans readers demonstrated with media brands online. In many cases print media had gotten used to having a loyal reader for a good hour or more a month with a given issue, while many branded media sites "bragged" of cumulative hang times of only 12 to 15 minutes a month from a user. Was it the natural clickiness of the Web, the LCD screen, the desktop setting? Who knew? But media companies were frustrated with digital fragmentation and once-loyal readers diffusing their media consumption across many sites.
And yet here on the tablet – still an LCD, still interactive, still connected to the Internet – we saw evidence of the return of user focus. The early stats I saw from publishers like Conde Nast showed per-issue engagement very close to print. Could it get any better than this? Digital interactivity, lower-cost distribution and long attention spans too?
It might get even better suggests Adobe, whose Digital Publishing Suite (DPS) drives many of these magazine apps from Conde Nast, Newsweek, and others. According to Lynly Schambers-Lenox, group product marketing manager, digital publishing, Adobe, the latest metrics across hundreds of magazine apps shows that tablet media may be edging out analog. “People are reading this content on tablets potentially more than they are in print,” she tells minonline. Across publishers, titles and content types Adobe has seen time spent in apps rise 70% in just the last 6 months. “56% of readers spend between 25 and 150 minutes per month consuming content in an application,” she says.
Actually if you drill into those broad stats a bit more you find a range of engagements on a per session basis. The largest share of app sessions (35%) are only 1-5 minutes, so people still are doing drive-bys. 27% are in the app for 5 to 10 minutes, Another 29% are lingering 10-30 minutes. But cumulatively over the course of the month we are seeing an impressive encounter with each monthly issue of digital magazines.
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03.16.2012
Sears Holdings Corp. revealed in a Wednesday document that it will close 43 Sears hometown dealer stores and 10 Sears Hardware stores over the first half of 2012.
The information came from the retailer’s annual report, filed late Wednesday, and is consistent with previously announced plans to close up to 120 underperforming Sears and Kmart stores and all nine of its remaining Great Indoors stores.
Sears also forged an agreement in February to sell off 11 Sears mall stores to mall owner General Growth for $270 million.
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03.16.2012
NewPage Corporation today announced the introduction of 40 lb. (65 gsm) EcoPoint™, a new wet strength label paper offering environmental and performance advantages for the bottled water, juice and soft drink industries. EcoPoint 40 lb. offers a notable source reduction advantage to beverage producers, with up to a seven percent reduction in label paper usage when compared to traditional 43 lb. (70 gsm) bottle label papers, and is designed for optimal performance in continuous roll fed labeling operations as well as cut-and-stack labeling machines.
As a new lighter weight label paper, EcoPoint 40 lb offers label printers the ability to supply more labels per shipment to beverage bottling operations, effectively reducing both shipment frequency and storage of finished goods. Bottling line productivity also increases as more labels can be stocked in labeling equipment, resulting in longer continuous bottling runs with fewer changeovers.
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03.16.2012
Yesterday afternoon a fire broke out at Pactiv’s molded fiber plant in Moorhead, Minn. The fire was significant and required all plant personnel to evacuate the facility. No one was injured during the fire and everyone returned home safely. “The fast response from the local and neighboring fire departments was nothing short of extraordinary and helped to minimize damage to our facility,” said Fred Mooney, Pactiv’s director of operations.
As the damage to the Moorhead facility is assessed, the company will work quickly to restore the equipment and restart operations. During those repairs, customers’ needs will be met by leveraging the facilities and inventory at other Pactiv locations. “While we want to reopen the facility quickly, our primary concern is the safety and well-being of our plant personnel,” said Mooney. “We are in contact with our employees to keep them informed and to provide an opportunity to get their questions answered.”
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03.16.2012
According to the American Forest & Paper Association’s February 2012 Printing-Writing Preliminary Shipments Report, total printing-writing paper shipments increased two percent in February compared to February 2011. Three of the four major printing-writing grades posted increases compared to last February, though the one decrease was ten percent (for uncoated mechanical).
Free sheet paper shipments were up three percent when compared to last February, and are up by one percent year-to-date.
Uncoated free sheet (UFS) shipments posted a three percent increase when compared to last February, which more than offset the small decline in January, bringing year-to-date UFS shipments up one percent.
Coated free sheet (CFS) shipments also increased three percent. Combined with the slight increase in January, year-to-date shipments are up nearly one and a half percent.
Mechanical paper shipments decreased by one percent when compared to last February, and for the year are down four percent. The culprit is uncoated mechanical (UM) paper shipments, which are down ten percent year-over-year. Since this decrease matches the decrease in January, year-to-date shipments are also down ten percent.
On the other hand, coated mechanical (CM) paper shipments increased the most out of the four grades, up four percent compared to last February. This strong growth was not quite enough to offset the five percent decrease last month, so year-to-date shipments are down one percent.
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03.16.2012
The digital print business, which moved into the two-story facility in December 2011, will take delivery of a Roland VS-640 print-and-cut machine and a Matrix laminator in April.
Expansion comes on the back of three years of consecutive 25% year-on-year growth, which has brought its turnover to the £400,000 mark.
Headcount at the Leeds Road firm has quadrupled in that time, employing eight at present with plans to take on a print apprentice and salesperson in the coming months.
The company has also recently appointed Scott Clarkson, formerly marketing manager at Poundstretcher, to the same role.
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03.16.2012
Orient Paper, Inc., a leading manufacturer and distributor of diversified paper products in northern China, today announced its financial results for the fourth quarter and fiscal year ended December 31, 2011.
Fourth Quarter 2011 Highlights: Revenue increased 7.3% year-over-year to $38.9 million; Average Selling Price ("ASP") of corrugating medium paper was $415/ton, which is 12.9% higher than the ASP in the fourth quarter 2010 and 0.5% higher than the ASP in the third quarter 2011. ASP of offset printing paper was $801/ton, which is 2.6% higher than the ASP in the fourth quarter 2010 but 2.5% lower than the ASP in the third quarter 2011. Gross profit was $8.4 million, with gross margin of 21.5%; Operating income rose 2.6% year-over-year to $7.6 million, with operation margin of 19.7%.
Full Year 2011 Highlights: Revenue increased 21.6% to $150.7 million; Gross profit increased 25.9% to $33.0 million with gross margin of 21.9%; Operating income increased 37.0% to $30.1 million with operating margin of 20.0%.
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03.16.2012
Bookmasters has entered into a sales and distribution agreement with industry leader Express Publishing to distribute their wide range of English Language Learning (ELL) materials in the United States and Canada. The Express catalog, including books, AV materials, and whiteboard applications, will be sold under a Sole Source agreement by Sussman Sales Company and its business division, LightSwitch Learning, which are Bookmasters’ exclusive sales representatives to the K-12 educational market.
"Teaming Bookmasters for distribution and logistics with Sussman for sales to our core K-12 market is the ideal combination for us to make an aggressive push into the U.S. market, the most demanding market in the world," said Anastasios Vlachos, CEO of Express Publishing.
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03.16.2012
RockTenn announced today that it expects fiscal second quarter earnings of between $0.35 and $.40 per diluted share and adjusted earnings of between $0.85 and $.90 per diluted share. The primary factors reducing fiscal second quarter adjusted earnings per diluted share compared to the fiscal first quarter adjusted earnings per diluted share are the impact of approximately 149,000 additional tons of economic and maintenance downtime at its containerboard mills, including approximately 30,000 tons from the previously announced closure of the Matane mill, the acceleration to the fiscal second quarter from the fiscal third quarter of a scheduled maintenance outage at RockTenn’s Demopolis, Alabama bleached paperboard mill, and lower pricing for export containerboard.
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03.16.2012
Almost two years after Conde Nast started putting its magazines on the Apple iPad, its advertisers are finally getting one of the promised benefits: regular information on each issue's tablet readership, down to its individual ads.
Conde Nast, the publisher of magazines such as Glamour and Wired, recently gave advertisers metrics concerning tablet editions of its January issues. It now plans to give advertisers data on each new issue about 10 weeks after it comes out.
The basic metrics that advertisers can expect will include:
¦the magazine's paid tablet subscriptions and single-copy sales during the reporting period
¦the number of readers that actually opened the issue's tablet edition, including print subscribers using their complimentary digital access
¦the total number of times that readers opened it
¦and the time that readers spent with it.
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03.15.2012
Global ad spending will reach $489.0 billion this year, up 4.8% over last year, according to a new forecast from ZenithOptimedia.
The forecast is up very slightly from a December projection of 4.7% growth for the year.
Next year, global ad spending is projected to increase by 5.3%, up from an earlier projection of 5.2% growth, and in 2014, ad spending is expected to increase by 6.1%, up from an earlier forecast of 5.8%.
ZenithOptimedia also revised its forecast for U.S. ad spending, which is projected to grow 3.6% this year (up from an earlier forecast of 3.5%).
The fastest-growing media categories in the U.S. this year will be Internet ad spending (up 17.8%) and cable TV (up 10.0%), according to the report.
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03.15.2012
Oil rose from the lowest price in more than a week in New York as investors speculated that signs of a strengthening U.S. economy will bolster fuel demand in the the world’s biggest crude user.
Futures advanced as much as 0.5 percent after a 1.2 percent drop yesterday. The number of Americans applying for jobless benefits declined last week, according to a Bloomberg News survey before a report today. U.S. petroleum demand climbed 2.2 percent to the highest in a month, Energy Department data showed yesterday. Global oil-market fundamentals will tighten this year and push London-traded Brent crude toward a 2013 forecast of $130 a barrel, Goldman Sachs Group Inc. said.
“We won’t see aggressive selling of the oil contract while that U.S. economic data continues to point to a recovery,” said Michael McCarthy, a chief market strategist at CMC Markets Asia Pacific Pty in Sydney. “We have jobless claims coming up and people are looking for further indicators of the health of the U.S. economy.”
Crude for April delivery climbed as much as 52 cents to $105.95 a barrel in electronic trading on the New York Mercantile Exchange. It was at $105.73 at 4:10 p.m. Singapore time. Yesterday, the contract fell $1.28 to $105.43, the lowest settlement since March 6. Prices are up 7 percent in 2012.
Brent oil for April settlement on the London-based ICE Futures Europe exchange was at $125.06, up 9 cents. The contract expires today. The more active May futures were 9 cents higher at $124.67.
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03.15.2012
Books-A-Million, Inc. today announced financial results for the fourth quarter and 52-week period ended January 28, 2012. Net sales from continuing operations for the 13-week period ended January 28, 2012 increased 10.7% to $166.9 million from net sales of $150.8 million in the year-earlier period. Comparable store sales for the fourth quarter declined 5.7%, compared with the 13-week period in the prior year. Net income from continuing operations for the fourth quarter was $7.6 million, or $0.48 per diluted share, compared with net income from continuing operations of $6.7 million, or $0.43 per diluted share, in the year-earlier period. During the quarter, the company incurred costs of $1.6 million related to the closing of 21 underperforming locations and the opening of 41 new BAM! stores that occurred in October and November. These costs total $5.4 million for the 52-week period ended January 28, 2012.
For the 52-week period ended January 28, 2012, net sales from continuing operations decreased 3.6% to $468.5 million from net sales from continuing operations of $486.1 million in the year-earlier period. Comparable store sales declined 9.5%, compared with the same period in the prior year. For the 52-week period ended January 28, 2012, the Company reported net loss from continuing operations of $2.5 million, or ($0.16) per diluted share, compared with net income from continuing operations of $9.0 million, or $0.57 per diluted share, in the year-earlier period.
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03.15.2012
Guess reported Wednesday that net earnings dipped 7.2% to $95.9 million for the quarter ended Jan. 28, compared with $103.3 million a year earlier.
Revenue for the quarter edged up 2.5% to $775.8 million, from $756.9 million. Same-store sales dropped 5% in the quarter.
The retailer’s greatest strength came from the performance of its Asian segment, which saw revenue surge 27.5% to $70.6 million in the fourth quarter.
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03.15.2012
Against the backdrop of a weakening global economy, the Mayr-Melnhof Group was able to successfully assert itself and finish the business year 2011 with peak values both in terms of profits and sales. This growth is the result of cartonboard production and cartonboard processing, as in both segments a significant rise in input costs was compensated. While the folding carton business had a mostly stable development due to sustainable private consumption, the cartonboard business faced a decline in incoming orders and operating income in the second half of the year, as expected after the full capacity utilization in the first half of the year, since the customers were consuming their stock and planning more carefully. In accordance with our strategy, we expanded our presence to growth markets with new sites in Turkey and Malaysia.
The Group’s consolidated sales improved from EUR 1,778.9 million to EUR 1,959.6 million and are 10.2 % above last year's level. This growth is mainly attributable to higher prices in both divisions, but also to the integration of the folding carton site Marinetti, Chile.
Operating profit therefore improved by 5.3 % or EUR 8.6 million to EUR 170.9 million. This increase results from the growth in profit both in cartonboard and folding carton production. At 8.7 % the Group's operating margin was slightly below last year’s level (2010: 9.1 %). The return on capital employed amounted to 18.6 % (2010: 18.9 %).
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03.15.2012
That’s how Mike Ferrari of Ferrari Innovation Solutions described the debut of two new presses unveiled this week at HP Pre-drupa 2012 in Tel Aviv, Israel. Recently retired from P&G after 32 years in the package printing development area, Ferrari played a key role in moving P&G into digital printing beginning around 2005.
With 350 brands—each with their own size and SKU variations--managing artwork and delivering printed packaging materials to a packaging line is not for the faint of heart at a company like P&G, said Ferrari. “Digital printing is a way to get out from under that complexity,” he added.
The new digital presses being introduced by HP Indigo at drupa 2012 are the web-fed HP Indigo 20000 for flexible packaging and the sheet-fed HP Indigo 30000 for folding cartons. Both will be featured at drupa 2012, which runs May 3-16 in Dusseldorf.
Three key areas where digital printing shines, said Ferrari, are print quality, color consistency, and speed to market. In the analog world, it might take eight weeks to get packaging materials delivered to the packaging line that requires them. In the digital world, it takes 48 hours or so.
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03.15.2012
Give consumers the option to buy a more eco-friendly product and they will take it; just don´t give confusing messaging about its environmental benefits, according to a recently released study.
Perception Research Services found that 36% of shoppers in 2011 said they would choose environmentally friendly packaging compared with 28% in 2010, according to a news release.
Half of the shoppers said they were willing to pay more, which was more prevalent with those under the age of 40. About 59% said seeing environmental claims on packaging positively impacts their behavior to either buy more of their usual brands or switch to others.
But a significant amount of shoppers said they are frustrated with the way companies promote environmental claims. At least 26% said there isn’t enough environmental information; 20% are confused by all the different environmental claims; and 22% don’t know which packages are best for the environment.
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03.15.2012
Casual Male Retail Group, Inc., the largest retailer of big & tall men's apparel and accessories, today reported operating results for the fourth quarter and fiscal year ended January 28, 2012 ("fiscal 2011").
Fourth Quarter Highlights (4QFY11 vs. 4QFY10)
•Comparable sales increased 0.8% and total sales of $111.5 million were flat to last year.
•Gross margin decreased 70 basis points to 44.7%.
•Net income increased to $33.5 million, or $0.70 per diluted share, from net income of $5.3 million, or $0.11 per diluted share.
Fiscal 2011 Highlights (FY11 vs. FY10)
•Comparable sales increased 2.1% and total sales increased 1.0% to $397.7 million.
•Gross margin improved 40 basis points to 46.2%.
•Net income increased to $42.7 million, or $0.89 per diluted share, from $15.4 million, or $0.32 per diluted share last year.
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03.15.2012
Presstek, Inc., a leading supplier of digital offset printing solutions to the printing and communications industries, today reported financial and operating results for the fourth quarter and fiscal year ended December 31, 2011. In the quarter, the Company reported total revenue of $29.8 million compared to $31.1 million in the fourth quarter of 2010, and adjusted EBITDA of negative $0.9 million compared to $0.6 million in the prior year fourth quarter. For 2011, the Company reported total revenue of $120.0 million compared to $128.6 million for 2010, and adjusted EBITDA of negative $1.4 million compared to $4.0 million for the prior year. (See "Information Regarding Non-GAAP Measures")
In the fourth quarter of 2011 the Company had a net loss of $3.8 million, or $0.10 per share, compared to a net loss of $6.7 million, or $0.18 per share, in the prior year quarter. The fourth quarter of 2010 included a $2.7 million valuation allowance against certain deferred tax assets outside the U.S., as well as a $1.9 million expense related to a bad debt reserve established for a single customer. For 2011 the Company had a net loss of $12.4 million, or $0.33 per share. The Company's 2010 net loss from continuing operations was $10.6 million, or $0.29 per share.
"Presstek faced another challenging year in 2011, as adverse economic and industry conditions continued to negatively impact print volumes," said Stanley E. Freimuth, Presstek's Chairman, President and Chief Executive Officer. "However, we were pleased with activity in the fourth quarter. We had previously reported that we expected fourth quarter revenue and gross margin dollars to be flat relative to third quarter numbers, and our results were better than expected. With the significant cost reductions that we implemented at the end of 2011, we expect adjusted EBITDA to be positive for 2012."
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03.15.2012
dELiA*s, Inc., a multi-channel retail company comprised of two lifestyle brands primarily targeting teenage girls and young women, today announced the results for its fourth quarter and fiscal year ended January 28, 2012.
Total revenue for the fourth quarter of fiscal 2011 decreased 2.0% to $65.6 million from $66.9 million in the fourth quarter of fiscal 2010. Revenue from the retail segment decreased 3.6% to $33.6 million, or 51.3% of total revenue. Revenue from the direct segment was flat at $32.0 million, or 48.7% of total revenue.
Total gross margin decreased to 32.3% in the fourth quarter of fiscal 2011, compared to 36.8% in the prior year quarter, predominantly reflecting reduced merchandise margins related to markdowns and the deleveraging of occupancy costs.
Total revenue for the retail segment for the fourth quarter of fiscal 2011 decreased 3.6% to $33.6 million from $34.9 million in the fourth quarter of fiscal 2010. Retail comparable store sales decreased 3.6% for the fourth quarter of fiscal 2011 compared to a decrease of 2.3% for the fourth quarter of fiscal 2010.
Gross margin for the retail segment, which includes distribution, occupancy and merchandising costs, was 20.5% for the fourth quarter of fiscal 2011 compared to 27.0% in the prior year period. The decrease in gross margin resulted primarily from lower merchandise margins and the deleveraging of occupancy costs.
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03.15.2012
Effective with shipments April 2, 2012, International Paper will increase the price of the following grades by $3.00/cwt:
• Postmark® White Envelope • Postmark® White Envelope FSC • Postmark® White Envelope Recycled • Postmark® White Envelope Recycled FSC • Postmark® Plus • Postmark® Premium • DRM® Offset • DRM® Recycled Offset • DRM® Opaque • Reply Card • Tablet • Add Roll • Coin Wrap
All other standard differentials, upcharges, and shipping policies for all products will apply.
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03.15.2012
Effective with shipments April 9, 2012, Domtar will increase prices by $3.00/cwt in the U. S. and Canada on the following Domtar Envelope papers:
• White Wove Envelope • Brown Kraft Envelope • ci2000®
All current standard differentials remain in effect.
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03.15.2012
NewPage is pleased that President Obama signed the legislation passed by the U.S. House and Senate that will allow the Department of Commerce to continue to apply the countervailing duty law to non-market economy countries like China. This legislation will preserve intact the countervailing duty order in place covering coated paper, as well as other countervailing duty orders covering other products from China.
"We applaud the remarkable effort of Congress in passing this important legislation, and would like to especially thank Republican Senators Mitch McConnell (R-KY) and Susan Collins (R-ME) for their leadership roles," stated George Martin, president and chief executive officer for NewPage. "Keeping these duties in place helps to level the playing field and allow our world-class operations and workforce to continue to service our customers with high quality, competitive products," added Martin.
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03.15.2012
Many corporations are promoting electronic communications (ex: e-billing) as a more environmentally-friendly method of communication, and in doing such they are spreading erroneous facts and messages about print and paper. As a result, the public is being flooded with messages that portray print and paper as a “bad” product with “destructive” environmental impacts relative to other communication methods.
This presentation will outline some of the unique environmental and social features of print and paper products which make it a sustainable way of communicating. The (often ignored) environmental and social impacts of electronic communications will also be reviewed, as well as environmental marketing rules and guidelines that companies should respect when making environmental claims (ex: US Federal Trade Commission Green Guides). Print and electronic media will co-exist for many decades and we need to reduce the environmental impacts of both. It’s not a question of one versus the other, but rather which combination is the most sustainable. The initiatives taken by Two Sides to challenge misleading claims will also be presented.
Click on the link below to listen to the webinar.
http://www.tappi.org/Events/Upcoming-Events/Virtual-Seminars/Webinars/misleading-claims.aspxp
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03.15.2012
After 244 years, Encyclopedia Britannica will cease production of its iconic multi-volume book sets.
Britannica usually prints a new set of the tomes every two years, but 2010's 32-volume set will be its last. Instead, the company will focus solely on its digital encyclopedia and education tools.
The news is sure to sadden champions of the printed word, but Britannica president Jorge Cauz said the move is a natural part of his company's evolution.
"Everyone will want to call this the end of an era, and I understand that," Cauz says. "But there's no sad moment for us. I think outsiders are more nostalgic about the books than I am."
In truth, Cauz says, the death knell sounded long ago. Though the name "Britannica" calls the print sets to mind, Cauz says they represent less than 1% of the company's total sales.
"The print set is an icon. But it's an icon that doesn't do justice to how much we've changed over the years," Cauz says.
The online version of the encyclopedia, which was first published in 1994, represents only 15% of Britannica's revenue. The other 85% is sales of education products: online learning tools, curriculum products and more.
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03.14.2012
Appleton Coated, working jointly with HP, has developed a gloss coated product for use on the HP® Inkjet Web Press family. With the introduction of Utopia® Inkjet Gloss, Appleton Coated leads the industry as the only North American manufacturer with a full line of papers for this digital technology, meeting the needs of early adopters in direct marketing and publishing applications.
Appleton Coated’s complete Utopia Inkjet product offering includes:
• Utopia Book Inkjet matte coated products for book publishing applications;
• Utopia Inkjet Dull and Gloss for publishing, commercial printing and direct mail applications; and
• Utopia Uncoated Inkjet with ColorPRO Technology
“Appleton Coated’s introduction of this gloss product propels high speed inkjet printing into a whole new spectrum, blurring the lines with offset and traditional digital platforms,” says Steve Franzino, vice president of technology for Courier Corporation in Chelmsford, Mass. “We have had success with the Utopia Book Inkjet matte product in the educational textbook business, and now, the gloss product opens up an excellent opportunity in the four-color trade book market. Image quality and surface gloss on the Utopia printed sheet are superior to anything else we have seen, and both the wet-rub and dry-rub durability are very good.”
“Utopia Inkjet Gloss is excellent for high-end publishing and direct mail. This paper, along with HPs inkjet technology, will bring digital inkjet printing quality exceptionally close to toner platforms,” said Chris Greene, president of CGX Publishing Solutions in Aurora, Colo. “I would expect in the very near future we will look at the relationship between sheet toner and inkjet web the same as we currently look at sheet fed and heat set web offset.”
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03.14.2012
The value of print advertising has steadily decreased with the rise of digital media in the last five years. According to a report from eMarketer.com, online advertising is expected to generate $39.5 billion in sales this year — a 23.3 percent increase from 2011 — compared to a sum of $33.8 billion on print.
Still, print an important outlet for many marketers. Randal Rozin, global director-brand management and marketing communications for Dow Corning Corp. tells BtoB magazine, “There is no doubt that digital media investments outpace our investments in print media. However, we continue to leverage print media as a strategic part of our marketing communications mix as [they] provide us with a solid avenue to control the time, place and delivery of our messaging. The locations of our deployment of print media continue to evolve as well. We're leveraging print more in specialized b2b trade verticals in emerging and developing economies — more so than in more mature markets. The allocation of digital is definitely growing for us, yet print still has its role to play in our overall mix.”
Business executives say that periodical print advertising is still useful. For example, George Stenitzer, vp of marketing and corporate communications for Tellabs Inc., also tells BtoB magazine, “Tellabs' print vehicle is our quarterly magazine, Insight. To the media that distribute it in print, it's a 16-page ad that polybags with their magazines. About one-third of our Insight distribution is in print, and two-thirds is electronic. From our viewpoint, Insight is one engine of our content marketing strategy, with 15 pages of editorial plus a back-cover ad that points to a white paper on our website. Several of our media partners have shifted from print to electronic editions, so they carry the magazine on their website, with their iPad apps and in their newsletters. Beyond that, Tellabs' print ads are tactical, in support of a specific event or campaign. Most ads are electronic rather than print.”
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03.14.2012
Just as a sign by the road makes it easier to find an attraction, Apple Inc.’s decision last week to debut a separate Catalog category in its iTunes app store should make it easier for consumers to find retailers’ catalog apps.
Apple, No. 2 in the Internet Retailer Mobile Commerce Top 300, previously placed catalog apps for its popular iPad tablet and iPhone smartphone in the Lifestyle category. Creating the Catalog section could be a boon for retailers and companies providing catalog apps.
“Many more thousands of consumers will see the category,” says Joaquin Ruiz, CEO and founder of Padopolis Inc., which created the Catalog Spree app. That means more awareness of the catalog apps and the retailers they serve, he says. In the two and a half days following the release of the Catalog category, the number of Catalog Spree downloads in the iTunes app store increased by 15% over similar periods, Ruiz says.
Creation of the category signals Apple’s recognition that consumers are shopping on tablets, says Peri Kadaster, vice president of marketing at CoffeeTable, an app that aggregates retail catalogs. “Catalogs on the iPad present not only a rich, visual experience, but also a source of inspiration and product discovery,” Kadaster says. “Tablets are best suited for a lean-back experience. Whereas most e-commerce experiences on the web are intent-driven, as in ‘I need to buy a flight, I want a specific book,’ catalog shopping centers on discovering new products. And catalog shopping on the tablet offers an ideal leisurely context for this discovery shopping experience.”
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03.14.2012
A report released Tuesday by the National Retail Federation and Hackett Associates said that import cargo volume at the nation’s major retail container ports is expected to increase 10% in March compared with the same month last year. And, according to the monthly Global Port Tracker, year-over-year gains should continue through mid-summer.
“Retailers are still watching all the economic indicators very carefully, but there are enough signs of improvement that stores are carefully stocking up,” NRF VP for supply chain and customs policy Jonathan Gold said. “Retailers only import more if they expect to sell more, so these numbers are a sign that optimism is growing.”
U.S. ports followed by Global Port Tracker handled 1.22 million Twenty-Foot Equivalent Units in January, the latest month for which after-the-fact numbers are available. That was up 4.4% from December and 1.3% from January 2011. One TEU is one 20-foot cargo container or its equivalent.
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