Paperclips Blog | Weyerhaeuser Results

05.14.2012
Publix cuts grocery bag use by 2 billion

Publix has achieved the eco milestone of saving more than 2 billion grocery bags since mid 2007. The company said it achieved this goal by training front service clerks and cashiers to increase the number of items per bag, implementing bag reduction goals for each store, holding communication campaigns to encourage the use of reusable bags and donating reusable bags to non-profits and partner organizations throughout the Southeast.

“At Publix, we are fortunate to have customers and associates who are committed to sustaining our environment,” said Maria Brous, Publix director of media and community relations. “That’s why we focus on the responsible use of environmental resources, and offering our customers and associates options when choosing paper, plastic or reusable bags.”

The company has offered in-store recycling of paper and plastic bags since the mid-1970s and introduced its first 99-cent reusable bags in mid-2007. Since the introduction, more than 21 million reusable bags have been sold at Publix locations.
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05.14.2012
Hot Rod Relauches Web Site, Will Relaunch Magazine

Hot Rod, the "performance" car magazine launched in 1948 by the late Robert ("Pete") Petersen out of his Los Angeles garage, is getting a major "tune-up" from owner Source Interlink Media.

Overhaul of Hot Rod's online, video, and social media platforms have been implemented. A highlight is editor-in-chief David Freiburger's 200-plus-miles per-hour test-drive of the 2012 Chevy Camaro ZL1 with Lingenfelter performance modifications.

The print relaunch of the 625,000 rate-base monthly comes with the Sept. 2012 issue that will be released on July 10. Freiburger says there will be a "50% increase in editorial pages and an all-new design, both of which support a complete reinvention of the content. Our mission is to consider what we used to do--in fact, what every car magazine used to do--and to ask ourselves how we can make it bigger, better, faster, louder. Wilder ideas, more emotional presentations, pure entertainment. At least a few times per issue, I want the reader to think, ‘I can’t believe they did that!’”

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05.14.2012
Metsä Group plans to invest EUR 30 million in upgrading Metsä Wood’s Vilppula sawmill

Metsä Group will launch an investigation into upgrading Metsä Wood’s Vilppula sawmill. The planned investment includes building a new sawmill line and a new green sorting line as well as renovating other parts of the sawmill.

The new sawmill line would enable the use of diverse sawing patterns as well as the efficient use of small logs in addition to large ones. The replacement of two sawmill lines with a new line would significantly enhance production efficiency. The investment is estimated to approximately EUR 30 million, and it would be carried out in 2013. The capacity of the sawmill would not change significantly.

“The investment project would enable us to offer more highly processed products that are customised precisely to customers’ needs, based on their product ranges and production processes. We want to help our customers improve their competitiveness while creating as much added value as possible for our owners' wood raw material," says Timo Karinen, Group Executive Vice President, Metsä Wood.

Adding value, improving cost-efficiency and investing in product and service development are essential parts of Metsä Wood’s business strategy. “The investment would create better opportunities for further processing our own sawn timber and serving demanding industrial customers,” says Karinen.

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05.14.2012
Ilim Group Locations in Siberia Have Manufactured 363,000 Tons of P&P Products

Over January-March 2012, Ilim Group’s Bratsk and Ust-Ilimsk Mills (Irkutsk Oblast) manufactured 363,000 tons of pulp and paper products. This almost equals the performance in the first quarter of the previous year.

This figure includes 314,000 tons of market pulp, which is a 2% percent increase from the similar period performance in 2011.

Board production has amounted to 48,500 tons, going down by 16% as compared to the output in January - March of the previous year. Improved corrugating technologies have boosted demand for thinner board. This has resulted in lower volumes in tons but almost the same number of square meters produced.

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05.14.2012
Ilim Group's Mills in Northwest Russia Demonstrate Production Growth in the First Quarter of 2012

Over the first three months of 2012 Ilim Group's Koryazhma Mill (Arkhangelsk Oblast) has manufactured 273,000 tons of pulp and paper products. This is 2% more than in the first quarter of 2011.

This includes about 91,000 tons of market pulp, which is a 1% percent increase as compared to the similar period of the previous year.

Paper production has gained 15%, going up to 59,000 tons. This includes 22,000 tons of sack paper, 30,000 tons of offset paper, and 7,000 tons of wallpaper.

Board production has amounted to 124,000 tons, going down by 2.5% against the similar period performance in 2011. This slight reduction in board output has been triggered by the changing ratio of sack paper and board output with more sack paper to satisfy the market demand.

Pulp cooking has grown by 3%, totaling 288,000 tons in the first quarter.

Wood supplies have exceeded the figures of January - March 2011 by 7%, amounting to 1,430,000 cubic meters.

OAO Ilim Gofra, corrugated box business of Ilim Group in the Leningrad Oblast, increased its production volumes by more than 4%, manufacturing 29,400,000 square meters of corrugated products in the first quarter of 2012.

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05.14.2012
Randall-Reilly Undergoes Corporate, Executive Restructuring

Randall-Reilly, the Tuscaloosa, Alabama-based b-to-b media company targeting the trucking and construction markets, has recently undergone a corporate restructuring around six "centers of excellence": Content, interactive, events, business intelligence, custom marketing solutions and audience development. As a result, the executive team, which remains intact, has also shuffled its roles.

The organizational structure mirrors what most b-to-b media companies are prioritizing these days—diversifying print with digital, data and custom marketing services. However, the challenge has often been to free these elements from their own silos so they scale across a company's market verticals and brands. "In the prior setup, some of these centers of excellence were encompassed in certain business units," explains Brent Reilly, now the company's president. "Our data company, for example, operated as its own business unit. Now it drives data solutions for all of our customers in the industries we serve, as well as the audiences we reach."

The new structure has also helped the company better target its investments, which these days tend to focus on units other than print. "We don't see print going away in the near future even though we're seeing the same declines everyone else in b-to-b is seeing," says Reilly, "so, obviously our investment level in print is nowhere near the investment we're making in data and other centers of excellence."

When the company does invest in print, adds Reilly, it tends to be on associated units such as social media or research. "Our primary investments this year have been in our data center and our interactive division, with a smaller level in events, audience development and custom marketing solutions."

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05.14.2012
Catalyst Paper announces rescheduling of Creditor meetings to consider Plan of Arrangement

Catalyst Paper today announced that the meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies’ Creditors Arrangement Act have been rescheduled to May 23, 2012. The meetings were previously scheduled for May 18, 2012.

“Our discussions are continuing towards the possibility of amending the current plan of arrangement which would better enable Catalyst to emerge from creditor protection on a stronger financial footing, said Kevin J. Clarke, President and Chief Executive Officer. “The additional time is intended to permit these discussions to be successfully completed.”

The rescheduled meetings will be held at a new location, the Westin Wall Centre, Vancouver Airport, 3099 Corvette Way, Richmond, BC at 10:00 am for unsecured creditors and 11:00 am for the First Lien Noteholders.

It is anticipated that the court date to sanction and approve the plan of arrangement will be rescheduled to May 25, 2012.
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05.14.2012
Oil Falls to 2012 Low on Greek Debt, Saudi Call for Drop

Oil fell below $94 a barrel in New York for the first time since December as Europe’s debt crisis worsened and Saudi Arabia’s energy minister said prices should decline further.

West Texas Intermediate slid as much as 2.6 percent to the lowest level this year. Brent crude, trading at about $110 a barrel today, should drop to $100 as supply outweighs demand, Saudi Oil Minister Ali al-Naimi said yesterday in Adelaide, Australia. Futures also slipped after Greece failed to agree on a unity government and European Union officials considered the nation’s possible exit from the euro. Hedge funds cut bullish bets on oil by the most in three years, data showed last week.

“It’s about Greece and a potential exit from the euro zone, which more and more people expect within months or even weeks,” said Hannes Loacker, analyst at Raiffeisen Bank International AG in Vienna, who correctly predicted last month that oil was set to drop. “And then it’s about fundamentals, with U.S. crude stocks high and demand in the developed world still weak.”

Crude for June delivery fell as much as $2.48 to $93.65 a barrel in electronic trading on the New York Mercantile Exchange, the lowest front-month intraday price since Dec. 19. It was at $94.36 at 10:35 a.m. London time. Prices slid 95 cents to $96.13 on May 11 and are down 4.6 percent this year.

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05.14.2012
Amcor has completed the acquisition of the Aperio Group

Amcor announced today that the company has completed the acquisition of the Aperio Group. First announced on 7 March 2012, the acquisition is an important strategic opportunity for the Asia Pacific flexible packaging business to deliver an improved offering to customers, particularly through innovation.
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05.14.2012
Verso Paper Corp. Reports First Quarter 2012 Results

Verso Paper Corp. today reported financial results for the first quarter of 2012. Results for the quarters ended March 31, 2012 and 2011 include:
• Operating loss of $12.3 million in 2012 compared to operating income of $14.1 million in 2011.
• Net loss before items of $39.0 million in 2012, or $0.74 per diluted share, compared to a net loss before items of $18.1 million, or $0.34 per diluted share in 2011.

Verso's net sales for the first quarter of 2012 decreased $41.3 million, or 9.9%, reflecting an 8.2% decrease in sales volume and a 1.9% decrease in the average sales price for all of our products. Typically the first quarter is a seasonally slow quarter due to lower demand for coated paper. However, prior year results were positively impacted by unusually high sales volume for coated papers in March of 2011. The decline in sales volume for the first quarter of 2012 was also impacted by the permanent shutdown of three paper machines in the fourth quarter of 2011. The lower average sales price for all of our products reflects a decline in the price of pulp while coated paper prices remained flat compared to the first quarter of 2011. We announced a price increase of $60 per ton on coated groundwood and $30 per ton on coated freesheet, effective May 1, 2012. Additionally, three pulp price increases, each for $30 per metric ton, have been announced since March 1.

Verso reported a net loss of $73.9 million in the first quarter of 2012, or $1.40 per diluted share, which included $34.9 million of charges from special items, or $0.66 per diluted share, primarily due to debt refinancing and unrealized hedge losses. Verso had a net loss of $44.6 million, or $0.84 per diluted share, in the first quarter of 2011, which included $26.5 million of charges from special items, or $0.50 per diluted share, primarily due to losses associated with debt refinancing.

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05.14.2012
Golf Town to Acquire Golfsmith International

Golf Town, Canada's largest specialty golf retailer, and Golfsmith International Holdings, Inc., announced today that they have signed a definitive merger agreement, pursuant to which Golf Town will acquire Golfsmith, a leading specialty golf retailer in the United States, for US $6.10 per share in cash. This represents a premium of 32.2% to Golfsmith stockholders based on the volume-weighted average closing prices of the Company Common Stock on the 30 trading days immediately preceding this announcement. This also represents a premium of 55.1% to Golfsmith stockholders based on the volume-weighted average closing prices of the Company Common Stock on the 30 trading days immediately preceding the announcement on March 1, 2012, that the Company was evaluating strategic alternatives, including a potential sale of the Company. The closing of the acquisition, which is subject to limited closing conditions, including regulatory approvals, is expected to occur in the third quarter of 2012. The transaction is not subject to a financing condition.

Golf Town is owned by OMERS Private Equity and operates 54 stores across Canada and 7 stores in the greater Boston area. Golfsmith has been in business for over 40 years and is a speciality retailer of golf equipment and related apparel and accessories.

The transaction will result in the creation of the world's largest specialty golf retailer.

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05.11.2012
Nordstrom First Quarter 2012 Earnings In Line with Company Expectations

Nordstrom, Inc. today reported net earnings of $149 million, or $0.70 per diluted share, for the first quarter ended April 28, 2012. This represented an increase of 2.9 percent compared with net earnings of $145 million, or $0.65 per diluted share, for the same quarter last year.

First quarter same-store sales increased 8.5 percent compared with the same period in fiscal 2011. Net sales in the first quarter were $2.53 billion, an increase of 13.7 percent compared with net sales of $2.23 billion during the same period in fiscal 2011.

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05.11.2012
Vertis Launches Advanced Commingling Capabilities

Vertis Communications, a results-driven marketing communications company, today announced an extension to its proven postal optimization offerings with the addition of advanced commingling capabilities. With commingling, Vertis improves its comprehensive postal solution that moves its clients’ programs further downstream in the USPS delivery system and achieves higher postal discounts.

Vertis’ addition of commingling enhances a full suite of delivery solutions that ensure mail campaigns will reach clients’ intended audiences on time and on budget. In addition to offering copalletization and drop ship, which afford clients discounts and improved penetration into the postal system, Vertis’ commingling capability delivers lower postal rates with greater saturation. With advanced commingling, Vertis integrates data processing to optimize postal sortation along with a proprietary postal optimization process to maximize end-to-end traceability of mail. Now, Vertis’ clients can locate individual mail pieces at any time and even review images of those pieces captured in process during commingling for complete accountability.

“Today, businesses and organizations must find ways to manage rising postage, processing and logistics costs, and meet speed-to-market demands in order to drive marketing ROI,” said Dave Colatriano, Chief Operating Officer, Direct Marketing, Vertis Communications. “We are excited to add the commingling solution to our best-in-class postal optimization capabilities. It will dramatically improve our clients’ delivery time, save them money, and increase their customer response.”

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05.11.2012
Sonoco CorrFlex's Rural Hall Plant Achieves 95 Percent Landfill Diversion

Sonoco Recycling, LLC, a unit of Sonoco and one of the largest packaging recyclers in North America, today announced that Sonoco CorrFlex's Rural Hall, N.C., facility has successfully diverted over 95 percent of its waste to landfill. The plant is the second CorrFlex facility to receive a silver-tier Star Award.

In September 2011, employees at Sonoco CorrFlex's Rural Hall, N.C., fulfillment facility formed Team Green, focused on achieving landfill-free status in two years. Since the plant is a fulfillment facility, its materials mix frequently changes based on the current customer and project. One of the major challenges for the team was staying on top of the flux of materials and determining the best outlet for each. To better understand their current program, the team began tracking landfill and recycling tonnage. Dumpster contents were monitored, assessing those areas that needed work to reduce the plant's landfill tonnage. Common recycling areas were set up in production and office areas, and employees were encouraged to bring in their recyclables from home.
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05.11.2012
Hachette Book Group Sales Up in Quarter

Total sales at Lagardere Publishing rose slightly in the first quarter, up to 394 million euros from 390 million euros. Sales were driven by a 2.8% increase in revenue at Hachette Book Group plus a 4.8% increase in illustrated books that helped to offset declines in France (-3.5%) and Spain (-11.6%). In the U.S., digital sales rose 32% in the quarter and e-books accounted for 28% of adult revenues in the period, up from 22% in the comparable period in 2011. HBG had 95 titles hit the bestsellers lists in the quarter compared to 75 in the 2011 first quarter.

Worldwide, e-book sales grew rapidly in most areas, most notably in the U.K where they now account for 25% of adult trade sales. For all of Lagardere Publishing, e-books represented 9% of sales.
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05.11.2012
Orient Paper Inc. Announces First Quarter 2012 Results

Orient Paper, Inc., a leading manufacturer and distributor of diversified paper products in northern China, today announced financial results for the first quarter ended March 31, 2012.

For the quarter ended March 31, 2012, revenue was $34.4 million, an increase of 3.6% from $33.2 million during the same period in 2011.

Revenue from corrugating medium paper was $19.1 million in the first quarter of 2012, representing an increase of 123.7% compared to $8.5 million in the year ago period. The Company sold a total of 45,391 tonnes of corrugating medium paper during the first quarter of 2012, up 104.9% compared to the year ago period.

Since December 2011, Orient Paper began selling corrugating medium paper produced from its new 360,000 tonnes paper production line. Of the total corrugating medium paper sold during the first quarter, 26,978 tons, or 59.4%, were produced from the Company's new production line. The ASPs for corrugating medium paper rose 9.1% year over year to $420/ton in the first quarter of 2012.

Revenue from medium-grade offset printing paper was $13.8 million for the three months ended March 31, 2012, down 38.9% from $22.5 million for the comparable period in 2011. The Company sold a total of 17,831 tonnes of offset printing paper during the first quarter of 2012, down 37.9% compared to the year ago period. The ASP of offset printing paper products decreased 1.8% from $786/ton in the first quarter of 2011 to $772/ton in the first quarter of 2012. The Company experienced lower tonnage sales of offset printing paper after January 2012 due to temporary suspension of offset printing paper trading, which suffered from a lower gross profit margin as a result of decline in ASP during the first quarter of 2012.

Revenue from the Company's digital photo paper products decreased 26.9% year over year to $1.6 million, or 4.6% of total revenue during the first quarter of 2012. We believe the decline in revenue was primarily due to a temporary slowdown in demand around the extended national holiday. In the first quarter of 2012, the Company sold a total of 398 tons of digital photo paper compared with 527 tons sold in the first quarter of 2011.

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05.11.2012
Heinzel to Install New Kraft Paper Machine at Pols Mill in Austria

Alfred Heinzel, chairman and CEO of the Heinzel Group, has announced the construction of a new paper machine at the Pols site (Austria). The total investment volume amounts to 115 million Euros.

"With the construction of the new paper machine, we are primarily reacting to the increasing quality demands of the market while strengthening the Pols site at the same time", said Alfred Heinzel, CEO of the Heinzel Group.

Zellstoff Pols AG, a subsidiary of the Heinzel Group, is the largest producer of premium grade bleached long-fibre sulphate pulp in Central and South-Eastern Europe. In addition to pulp, its main product, Pols also produces premium grade bleached kraft paper under the STARKRAFT name. With the new paper machine, the site will increase its capacities to 80,000 tons per year.

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05.11.2012
More cartonboard capacity at Metso Board’s Äenekoski mill

Metsä Board, Europe’s leading producer high quality folding boxboard, has completed the rebuild of the board machine at the ?änekoski mill in Finland, increasing its folding boxboard capacity by 30,000 tonnes per annum to 240,000 tpa. Normal production restarted in early May of Carta Integra and Carta Solida, Metsä Board’s products especially recommended for high quality packaging and graphics.

“Demand for sustainable packaging made from fresh forest fibres continues to be strong, and we have responded by increasing the availability of our cartonboards,” says Olli Mäki, VP Cartonboard Sales, Metsä Board. “Their purity and excellent sensory properties make them ideal for confectionery, pharmaceuticals, cosmetics and beautycare products, and their superior printing surface allows perfect reproduction for high quality packaging. Their light weight, in comparison to boards with similar strength, means less impact on the environment.”

An additional project to increase cartonboard sheeting capability is also underway at ?änekoski, converting the facility released by closure of the paper machine at the site. This will be finalised in the autumn.
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05.11.2012
Houghton Mifflin Harcourt Reaches Agreement with Lenders and Investors

Global education leader Houghton Mifflin Harcourt (HMH) today announced that it has reached an agreement with more than 70% of its senior secured lenders and bondholders on the terms of a comprehensive financial restructuring plan to convert HMH’s outstanding long-term debt to equity and create an appropriate capital structure to support the Company’s strategic plan and business objectives.

Acceptance of this plan is currently being solicited by the Company from its broader lender, bondholder and shareholder constituencies. If approved by the requisite percentages and implemented as proposed, HMH will eliminate $3.1 billion of debt and reduce current annual cash interest costs by approximately $250 million, providing the Company with greater liquidity and financial flexibility as it pursues growth opportunities in the digital, consumer and international markets.

“We are excited to have reached an agreement with our lenders and bondholders on a financial restructuring plan that will equitize our current long-term debt and put HMH in a financially stronger position for the future,” said Linda K. Zecher, President and Chief Executive Officer of HMH. “With a more appropriately-sized capital structure and greater financial flexibility, along with our world-class brand and innovative digital education solutions, we will be well-positioned to accelerate our growth initiatives and expand our digital platform.”

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05.11.2012
Inside Columbia Magazine Brings Vertical Integration In-House

When Inside Columbia—a city and regional magazine targeting the residents of Columbia, Missouri—relocated its headquarters in a building constructed in the 1940s, it discovered an opportunity for a unique brand expansion—a cooking school.

The magazine has had a focus on the food category, one of six core competencies it identified a few years ago in a vertical integration strategy: It hosts culinary trips where 30-60 readers are brought on a cooking adventures to foodie cities such as New York, Sonoma and New Orleans; produces a week-long wine and food festival; and publishes wine newsletters.

As the building was being remodeled to accommodate the magazine's new offices, there was plenty of space left over—"We realized we could do a cooking school in there," publisher Fred Parry says.

But rather than simply being an added, and incremental, revenue opportunity to offer cooking classes to readers, the space took on a host of side benefits and new business models. "In addition to allowing us to deepen our commitment to the category, it also builds community by bringing the audience into the building. It created a greater engagement with readers that we didn't anticipate."

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05.11.2012
Gap launches digital and social campaign

Gap launched a digital and social marketing campaign May 10, said Rachel Tipograph, global director of digital and social media at the Gap. The “Be Your Own T” campaign accompanies the launch of a new t-shirt collection and includes several digital experiences, including a Facebook initiative.

Part of the campaign is called T.I.Y—a play on D.I.Y.—that shows customers how to “upcycle” old t-shirts into new items, such as flip flops, the company said. “For T.I.Y., the experience lives across Facebook, Twitter, Instagram, Pinterest and blogs,” Tipograph said “Communities like Facebook, Twitter and Pinterest are an integral part of consumers' lives, so it's important that we engage with them on these properties.”

“For T.I.Y., we are releasing a new project every Friday within our social channels for eight weeks,” she said. T.I.Y was created in partnership with Threadless.

The other digital aspect of the launch, called Styld.by, is a partnership with Gap and several blogs, including Refinery29, Rue and WhoWhatWear, Tipograph said. Styld.by is a way for the Gap to collaborate with these blogs and to introduce new content and items through them, the company said in a statement. It's like a catalog, the company said, but the partners get to curate content and engage readers, too.

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05.11.2012
Catalyst Paper Q1 results impacted by restructuring costs

Catalyst Paper recorded a net loss of $25.6 million in the first quarter of 2012 due primarily to the impact of restructuring and reorganization expenses of $27.6 million. Before specific items, the net loss was $9.6 million. This compared with a net loss of $708.0 million and $41.7 million before specific items in the fourth quarter which was impacted by significant impairment charges on Canadian operations and on Snowflake mill lands, restructuring costs and foreign exchange.

Earnings before interest, tax, depreciation and amortization (EBITDA) in the first quarter was $18.1 million and EBITDA before restructuring costs was $23.3 million compared with EBITDA of $2.8 million and EBITDA before restructuring costs of $8.7 million in the prior quarter.
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05.11.2012
Oil Heads for Second Weekly Drop as Supply Exceeds Demand

Oil fell in New York, heading for a second weekly drop, on concern that Europe’s debt crisis will worsen and curb fuel demand as global crude supplies increase.

Futures slipped as much as 1.4 percent, retreating for the seventh day in eight. OPEC is producing 8.3 percent more crude than it considers necessary this quarter, data released yesterday by the Vienna-based group showed. Prices narrowed their declines after the International Energy Agency said today global oil markets are “marginally tighter” and predicted that geopolitical risks to crude supply will keep prices high.

“The recent correction is to do with the broader risk-off mode,” Harry Tchilinguirian, head of commodity-markets strategy at BNP Paribas SA in London. “We had been building up to a correction as a result of higher OPEC supply and a whole string of crude inventory gains in the U.S. But fundamentals are sufficient to maintain the price above $95.”

Crude for June delivery fell as much as $1.34 to $95.74 a barrel in electronic trading on the New York Mercantile Exchange, and was at $96.05 at 10:47 a.m. London time. The contract yesterday rose 27 cents to $97.08. Prices are 2.5 percent lower this week and down 2.8 percent this year.

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05.11.2012
Postal Service Losses of $3.2 Billion in Second Quarter Underscore the Need for Legislative Changes

The Postal Service ended its second quarter (Jan. 1 – March 31) with a net loss of $3.2 billion, compared to a net loss of $2.2 billion for the same period last year. Despite ongoing management actions that have grown and improved efficiency, the losses will continue until key provisions of the Postal Service five-year business plan move forward.

Without the impact of the non-controllable costs related to mandated retiree health benefit pre-funding payments and accounting for non-cash adjustments for worker’s compensation, the non-GAAP loss for the quarter was $486 million compared to $469 million for the same period last year as shown in Table I below.

The losses are due primarily to legislative mandates such as the unique mandated pre-funding of retiree health benefits, and prohibiting management from making the needed operational and human resource changes required to address these issues under current laws and contracts. Also contributing to the continuing losses are the declining First-Class Mail and Standard Mail volumes. The Congress must act soon to pass legislation providing the Postal Service with the flexibility and speed needed to make the changes necessary for long-term financial viability.
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05.11.2012
AAA Fuel Gage & Exchange Rates

AAA’s Fuel Gage Report as of 5/11/12
National Unleaded Regular:
Current Average - $3.734/gallon
Month Ago Average - $3.915/gallon
Year Ago Average - $3.962/gallon
Highest Recorded Average - $4.114/gallon on 7/17/08
Diesel:
Current Average - $4.054/gallon
Month Ago Average - $4.161/gallon
Year Ago Average - $4.144/gallon
Highest Recorded Average - $4.845/gallon on 7/17/08

Current Exchange Rates as of 5/10/12
American Dollar to Canadian Dollar = 1.00124 (120 day high - 1.01905 on April 26, 2012; low 0.950905 on November 25, 2011)
American Dollar to Chinese Yuan = 0.15837 (120 day high – 0.159363 on May 2, 2012; low 0.156639 on November 28, 2011)
American Dollar to Euro = 1.2961 (120 day high - 1.3511 on December 2, 2011; low 1.2669 on January 16, 2012)
American Dollar to Japanese Yen = 0.0125457 (120 day high – 0.0131387 on February 2, 2012; low 0.0119026 on March 21, 2012)
American Dollar to Mexican Peso = 0.0744879 (120 day high – 0.0793808 on March 14, 2012; low 0.0700535 on November 25, 2011)

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05.11.2012
Preliminary April printing & writing statistics (UBS)

PPPC preliminary N American printing/writing stats show a much narrower y/y shipment decline vs March (-5.5% vs -12.4%), but this was supported by a significantly easier comp. Absolute shipments fell 6.6% m/m-to the lowest level in any month since at least 2000. Utilization fell 400bp m/m but was flat y/y. Current op rate is 400bp below levels we view as balanced. YTD utilization is off 100bp.

Uncoated free shipments fell 4.7% y/y (-2.2% ytd). While this was weaker than the coated trend, uncoated free faced a comp 1000+ bp tougher than any other grade in April. Utilization fell a steep 600bp m/m-but off a fairly high level. April op rate was still 100bp above the print/write avg. Uncoated groundwood continues to post weakest shipment trend, off 12.2% y/y in April (-17.8% ytd). But it posted flat utilization and highest op rate of any grade in April (400bp > print/write avg).

Coated paper shipments only fell 2% y/y in April-improved from 13% declines in Mar. But the April comps were 1300-1500bp easier than in March. Coated free utilization fell a further 300bp m/m-off an already low base. The April op rate was 500bp weaker than the print/write avg. Coated groundwood utilization also fell 300bp m/m and trailed all printing & writing by 300bp in the month.

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05.11.2012
Grainger Reports April 2012 Sales Results

Grainger today reported sales results for the month of April 2012. Daily sales increased 12 percent versus April 2011. Results for the month included a 5 percentage point contribution from acquisitions. Excluding acquisitions, organic sales increased 7 percent, including 5 percentage points from volume and 3 percentage points from price, partially offset by a 1 percentage point decline from foreign exchange. April 2012 had 21 selling days, the same as April 2011. The 2012 second quarter will have the same number of selling days as the 2011 second quarter (64 days).
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05.10.2012
CVS Caremark Reports Record First Quarter Results

CVS Caremark Corporation today announced revenues, operating profit and net income for the three months ended March 31, 2012.

First Quarter and Year-Over-Year Highlights:
•Net revenues increased 19.9% to a record $30.8 billion, with Pharmacy Services up 32.3% and Retail Pharmacy up 9.9%
•Retail Pharmacy segment same stores sales increased 8.4%
•Adjusted EPS of $0.65, up 14.7%; GAAP diluted EPS from continuing operations of $0.59
•Generated free cash flow of $2.4 billion; cash flow from operations of $2.8 billion

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05.10.2012
The Yankee Candle Company, Inc. Reports Fiscal 2012 First Quarter Results

Yankee Holding Corp. and The Yankee Candle Company, Inc. today announced financial results for the first quarter ended March 31, 2012. Yankee Holding Corp., a direct subsidiary of YCC Holdings LLC, is a holding company formed in connection with the Company's Merger with an affiliate of Madison Dearborn Partners, LLC on February 6, 2007 (the "Merger"), and is the parent company of The Yankee Candle Company, Inc.

Sales for the first quarter of 2012 were $155.1 million, an increase of $11.0 million or 7.6% from the prior year first quarter. Retail sales were $81.0 million, an increase of $6.2 million or 8.3% from the prior year quarter. Sales in the Company's Wholesale segment were $50.2 million, an increase of $2.7 million or 5.7% versus the prior year first quarter. Sales in the Company's International segment were $23.9 million, an increase of $2.0 million or 9.3% from the first quarter of fiscal 2011. The Company recorded a net loss of $3.5 million for the first quarter of 2012 compared to a net loss of $5.3 million for the first quarter of 2011.

The Company presents Adjusted EBITDA (as defined below) to provide investors with additional information to evaluate the Company's operating performance and its ability to service its debt. Adjusted EBITDA for the first quarter of 2012 decreased by 3.8% to $20.0 million, or 12.9% of sales, as compared to Adjusted EBITDA for the prior year first quarter of $20.8 million, or 14.5% of sales.

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05.10.2012
Quad/Graphics Reports First Quarter 2012 Results

Quad/Graphics, Inc. today reported results for its first quarter ending March 31, 2012. For full financial results, please see the accompanying information.

“Our performance during the first quarter gave us a solid start to the year,” said Joel Quadracci, Quad/Graphics Chairman, President & CEO. “Our results are in line with our expectations and we are pleased with the progress we made on our key priorities to improve productivity, reduce costs, lower our debt and meet our synergy objectives, which enabled us to generate significant Recurring Free Cash Flow and improve upon our already strong credit metrics.”

Net sales for the first quarter 2012 were $990 million versus $1,022 million for the same period in 2011. First quarter 2012 Adjusted EBITDA was $126 million versus $142 million for the same period in 2011. The results reflect expected volume and pricing pressures, which were partially offset by continued productivity improvements and incremental synergy savings totaling $25 million during the quarter and $221 million since the Worldcolor acquisition. Recurring Free Cash Flow was $107 million, demonstrating the Company's ability to generate strong, consistent cash flow.

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05.10.2012
Sappi Limited Results for the Second Quarter Ended March 2012

•Profit for the period US$58 million (Q2 2011 loss US$74 million)
•EPS 11 US cents (Q2 2011 loss per share 14 US cents)
•Net cash generated US$91 million (Q2 2011 US$100 million)
•Net debt US$2,133 million, down US$42 million from Q1 2012
•Cost savings led to improved performance in European business
•Southern African chemical cellulose business continues strong performance

Commenting on the results, Sappi Chief Executive Officer Ralph Boettger said:

"The improving trend in operating performance continued in the quarter, with the European and North American businesses in particular showing good improvement. The group achieved a net profit for the period of US$58 million (Q2 2011 US$74 million loss) and EPS of 11 US cents (Q2 2011 loss of 14 US cents) in the second quarter of the 2012 financial year.

"The performance of the European business was particularly pleasing, following the relentless focus on cost reduction in that region. Market conditions for coated paper have been weaker than in the equivalent period last year, but despite this, our operating rates remained good in both Europe and North America as a result of management action. Variable costs and fixed costs are generally lower, particularly in Europe, enabling margins to be maintained or widened.

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05.10.2012
News Corporation Reports Third Quarter FY2012 Earnings

News Corporation today reported third quarter revenue of $8.40 billion, a 2% increase over the $8.26 billion of revenue reported a year ago. The quarterly revenue increase was led by double-digit growth at the Company’s Cable Network Programming and Filmed Entertainment segments, partially offset by declines primarily at the Company’s Television segment due to the absence of revenues generated from the broadcast of the National Football League Super Bowl in the prior year.

The Company reported third quarter total segment operating income(1) of $1.31 billion, a 23% increase over the $1.06 billion of total segment operating income reported a year ago. This improvement was led by a $111 million or 15% increase at the Cable Network Programming segment. The current quarter results include a $63 million charge ($0.02 per share) related to the costs of the ongoing investigations initiated upon the closure of The News of the World. The prior year results include a $125 million charge ($0.03 per share) at the Company’s integrated marketing services business related to the settlement of litigation. Excluding these charges from both years, respectively, this year’s third quarter adjusted total segment operating income of $1.38 billion increased $187 million or 16% from $1.19 billion in the prior year.

The Company reported third quarter net income of $937 million ($0.38 per share), as compared to net income of $639 million ($0.24 per share) reported a year ago. This year’s third quarter results include a $111 million pretax gain from the Company’s participation in British Sky Broadcasting’s (“BSkyB”) share repurchase program, which is reflected in Equity earnings of affiliates, as well as $27 million of pre-tax income in Other, net, principally reflecting a gain on the sale of the Company’s stake in Hathway Cable. These gains were partially offset by a $27 million pre-tax Impairment and restructuring charge primarily related to the international newspaper operations. Excluding the net income effects of these items, the charge related to the investigations in the U.K., and comparable items in the prior year, third quarter adjusted earnings per share(2) this year are $0.37 compared with the adjusted year-ago result of $0.26.

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05.10.2012
ComScore: Online spending increases 17% to $44.3 billion in Q1

Online U.S. retail spending reached $44.3 billion in first quarter 2012, up 17% versus a year ago, according to comScore’s Q1 2012 Retail survey. It was the tenth consecutive quarter of positive year-over-year growth and sixth consecutive quarter of double-digit growth.

In other findings, 38% of tablet owners have made a purchase on their devices within the past month. Apparel was the most popular category for purchase among tablet shoppers.

“The first quarter of this year was especially strong for retail e-commerce as we returned to year-over-year growth rates in the high teens, numbers we haven’t seen since 2007,” said comScore chairman Gian Fulgoni. “While the economic recovery continues to be painfully slow, the channel shift to e-commerce appears to be accelerating. This presents opportunities but also challenges for brick-and-mortar retailers if they can’t hold onto their offline market share in the digital world.”

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05.10.2012
Bare Necessities Launches Two Digital Catalogs

Hoping to cash in on the burgeoning tablet commerce market, intimate apparel merchant Bare Necessities has launched two new digital catalogs designed specifically for a tablet shopping experience. They’re available via the free Google Catalogs and Catalog Spree tablet apps for both iPad and Android, and can be accessed on BareNecessities.com as well.

The first new catalog is Bare Necessities' swimwear collection (29 pages), featuring brands such as SPANX, Elomi, Freya, and Fantasie. The second digital catalog highlights Bare Necessities' spring bra and lingerie collection from Wacoal (21 pages) designed for an interactive, tablet environment.

Jay Dunn, chief marketing officer for Bare Necessities, believes today’s technology along with the popularity and interactivity of tablets such as the iPad and Kindle Fire will change the way customers shop from catalogs. Dunn started at Bare Necessities last July.

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05.10.2012
Digital Mag Store Magzter Aims for Global Reach

While the U.S. tablet market still enjoys the bulk of device sales, Apple and other manufacturers are seeing surprising growth around the world. Publishers have the opportunity to leverage the international reach of tablets in new ways. One of the up and coming platforms in the space, Magzter, says it is seeing distribution and promotional success in a wide range of new places. “We had 25 titles four months ago and now we have 400,” says CEO Girish Ramdas. started last year with a core of Indian titles in its digital edition newsstand. “We should have 2,000 by the end of the year,” he says. It already handles a number of Hearst's international extensions of core U.S. brands.

Magzter still has a way to go, of course. Zinio’s container app for digital editions is ranked as the 4th highest grossing app in the News category at the Apple iPad App Store, while Magzter is 80th. The company claims to have 100 standalone apps in the Newsstand, including the recently launched Columbia Journalism Review. Ramdas says they have had 2.5 million downloads of the app.

While Ramdas is talking with multiple U.S. publishers about building both their domestic and international editions apps, he is seeing considerable growth overseas as Magzter enters the Asian, Chinese and Singapore markets. They will be launching Arabic versions soon. “We didn’t expect the Asian markets to have this many iPads and iPhones,” he says. The titles the company represents have seen good relations with Apple overseas, where they will be featured on the localized App Store.

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05.10.2012
St. Louis Area Printing Company, Nies/Artcraft, Consolidates Operations in New, Environmentally Aware Building

After operating out of three sites for many years, St. Louis-based commercial printer Nies/Artcraft, a Consolidated Graphics, Inc. company, will consolidate two of its current facilities into a single, new location. The company executed a lease on April 2, 2012 for a new building located at 3049 Chouteau Avenue, St. Louis, MO, 63103.

The building was designed and built by Clayco, and includes 103,519 square feet of flexible work space. Numerous locations were considered for the move, but one of the winning qualities of the Choteau location was its open layout. By having a completely open floor plan, Nies/Artcraft’s production management team was able to work with Clayco to create a layout specific to its work flow needs.

“The benefits of being able to design a workspace, rather than having to try and fit your work into a space, are substantial. From providing estimates to shipping finished products out the door, the streamlined production workflow enabled by the Choteau facility will allow us to work much more efficiently,” said Nies/Artcraft President James Hill. “Our facility consolidation will improve the way we collaborate with one another and with our clients, creating a great new customer experience. We are excited to be taking this step forward and looking forward to completing our move in September of this year,” he said.

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05.10.2012
Cenveo Announces First Quarter 2012 Results

Cenveo, Inc. today announced results for the three months ended March 31, 2012.

The Company generated net sales of $455.6 million for the first quarter of 2012, compared to $477.0 million in the first quarter of 2011. The decrease in net sales was primarily due to lower sales in our print and envelope product lines as a result of customer product launches in the first quarter of 2011 that did not repeat in the first quarter of 2012 and lower direct mail volumes from our financial services customers. The Company expects the direct mail market to strengthen in the second half of 2012. The Company’s custom label and specialty packaging products both displayed strong growth relating to customer wins and sales channel expansion.

Operating income was $14.2 million in the first quarter of 2012, compared to $19.3 million in the first quarter of 2011. The decrease in operating income was primarily due to increased restructuring, impairment and other charges as a result of a print plant closure and other cost savings actions executed in the first quarter of 2012, offset in part by our lower cost structure due to the integration of our Envelope Product Group (“EPG”) acquisition and lower compensation related expenses. Non-GAAP operating income was $31.6 million in the first quarter of 2012, compared to $31.5 million in the first quarter of 2011. Non-GAAP operating income excludes integration, acquisition and other charges, stock-based compensation provision, restructuring, impairment and other charges.

In the first quarter of 2012, the Company had a net loss of $27.2 million, or $0.43 per share, compared to net income of $2.8 million, or $0.04 per share in the first quarter of 2011. The results in the first quarter of 2012 include a loss on early extinguishment of debt, net of $10.6 million related to our recent debt refinancing and restructuring, impairment and other charges of $14.0 million as a result of a print plant closure and other cost savings actions executed in the first quarter of 2012, while the results in the first quarter of 2011 included a preliminary bargain purchase gain of $10.5 million related to the EPG acquisition and restructuring, impairment and other charges of $3.8 million. On a Non-GAAP basis, income from continuing operations was $3.3 million, or $0.04 per share, in the first quarter of 2012 as compared to $1.1 million, or $0.02 per share, in the first quarter of 2012.

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05.10.2012
Cascades reports improved results for the first quarter of 2012

Cascades Inc., a leader in the recovery and manufacturing of green packaging and tissue paper products, announces its financial results for the three-month period ended March 31, 2012.

In comparison with the same period last year, sales rose by 15% to $891 million as of result of higher selling prices, the net contribution of business acquisitions over divestitures and the full consolidation of the results of Reno de Medici (“RdM”) since Q2-2011 that more than offset lower volumes.

The above-mentioned factors combined with lower raw material costs resulted in operating income, excluding specific items, amounting to $26 million compared to $1 million in Q1-2011. On a segmented basis, our Containerboard sector posted similar profitability. Our Tissue Papers and Specialty Products sectors surpassed 2011 first quarter's results due to improved productivity and lower recycled fiber costs. Our Boxboard sector in Europe benefited from the full consolidation from RdM since Q2-2011. When including specific items, the operating income amounted to $29 million in comparison to a loss of $6 million in the same period of last year.

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05.10.2012
Oil Falls a Seventh Day, Longest Run of Losses Since 2009

Oil fell for a seventh day in New York, its longest run of declines since December 2009, as hopes for a solution to Europe’s debt crisis receded, U.S. supplies rose and Chinese imports fell.

West Texas Intermediate oil fell as much as 0.7 percent. Crude inventories rose 3.7 million barrels last week to 379.5 million, the highest level since 1990, even as fuel supplies shrank, Department of Energy data showed. The euro pared gains against the dollar as Greece struggled to form a government and the cost of insuring against a Spanish debt default increased to a record. China, the world’s second-biggest oil consumer, reduced net crude imports to the least in fourth months.

“Prices have come down amid further Europe jitters, the stronger dollar, an absence of additional bad news in the Iranian situation and lower Chinese imports,” said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt. “But for WTI at least the drop might have been overdone.”

WTI for June delivery fell as much as 66 cents to $96.15 a barrel in electronic trading on the New York Mercantile Exchange and was at $96.24 at 10:56 a.m. London time. The contract yesterday slid 20 cents to $96.81, the lowest close since Feb. 2.

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05.10.2012
Kohl's Corporation Reports First Quarter Financial Results

Kohl’s Corporation today reported results for the quarter ended April 28, 2012.

Kohl’s Corporation reported first quarter net income of $154 million ($0.63 per diluted share) compared to $201 million ($0.69 per diluted share) a year ago. Net sales were $4.2 billion, an increase of 1.9 percent for the quarter. Comparable store sales for the quarter increased 0.2 percent.

Kevin Mansell, Kohl’s chairman, president and chief executive officer, said, “Our first quarter results reflect the implementation of our strategy to initiate lower pricing in order to provide greater value to our customers. This planned action led to significantly lower gross margins for the quarter. Strong management of expenses allowed us to achieve our earnings goal for the quarter. We have accelerated new receipts into second quarter to ensure we are well-positioned from an inventory perspective for the Back-to-School season. The combination of these two actions should allow us to greatly improve our sales for the fall season.”

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05.10.2012
Neenah Paper Reports 2012 First Quarter Results

Neenah Paper, Inc. today reported adjusted earnings from continuing operations of $0.77 per diluted common share in the first quarter of 2012 compared to adjusted earnings of $0.54 per share in the first quarter of 2011. Excluding adjustments, earnings in the first quarter of 2012 of $0.54 per share compared to earnings of $0.45 per share in the prior year period. Items excluded from adjusted earnings in 2012 totaled $0.23 per share for a pension settlement charge and costs to integrate brands purchased from Wausau Paper Corp. on January 31. In 2011, adjusted earnings excluded $0.09 per share for costs associated with the early redemption of a portion of the Company’s long-term bonds. Adjusted earnings are reconciled to GAAP figures later in this release.

Net sales of $198.2 million in the first quarter of 2012 grew 15 percent compared with the first quarter of 2011, while adjusted operating income of $22.2 million increased 29 percent. Operating income increased in both Technical Products and Fine Paper as a result of higher net pricing and cost efficiencies, with Fine Paper further benefitting from higher volumes related to the purchased brands.

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05.10.2012
Resolute and Fibrek Cooperating for Smooth Transition

AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that Fibrek Inc. and Resolute are cooperating on an orderly transition to Resolute's effective control. The goal for both parties is to minimize any disruption to Fibrek's key relationships, including its employees, customers, suppliers and other partners.

Following the filing of Fibrek's first quarter 2012 consolidated interim financial statements with the Canadian securities authorities, it announced that each member of the board had stepped down, effective immediately. Resolute is pleased to announce that the principal members of Fibrek's outgoing management team, including Pierre Gabriel Côté, chief executive officer, and Patsie Ducharme, chief financial officer, have agreed to assist in the transition process as special advisors until May 31, 2012.

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05.10.2012
Ahlstrom announces price increases for its Label and Processing papers worldwide

Ahlstrom, a global high performance materials company, announces price increases on its specialty paper materials produced by the Label and Processing business area, as a consequence of the recent rises in raw material and energy costs.

The price increase will affect all Label and Processing products worldwide and will be effective for all shipments made as of June 1, 2012. The increase range will vary depending on the products and markets. Specific details will be discussed with each customer individually.

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05.10.2012
New Strategy to Preserve the Nation’s Smallest Post Offices

The U.S. Postal Service announced a new strategy today that could keep the nation’s smallest Post Offices open for business, while providing a framework to achieve significant cost savings as part of the plan to return the organization to financial stability.

The plan would keep the existing Post Office in place, but with modified retail window hours to match customer use. Access to the retail lobby and to PO Boxes would remain unchanged, and the town’s ZIP Code and community identity would be retained.

“Meeting the needs of postal customers is, and will always be, a top priority. We continue to balance that by better aligning service options with customer demand and reducing the cost to serve,” said Postmaster General and CEO Patrick R. Donahoe. “With that said, we’ve listened to our customers in rural America and we’ve heard them loud and clear – they want to keep their Post Office open. We believe today’s announcement will serve our customers’ needs and allow us to achieve real savings to help the Postal Service return to long-term financial stability.”

The new strategy would be implemented over a two-year, multi-phased approach and would not be completed until September 2014. Once implementation is completed, the Postal Service estimates savings of a half billion dollars annually.

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05.09.2012
RDA Holding Co. Announces Results for the First Quarter Ended March 31, 2012

RDA Holding Co., parent company of The Reader’s Digest Association, Inc., the global multi-brand and multi-platform media and direct marketing company, announced today its financial results for the first quarter ended March 31, 2012.

Revenue decreased $42.0 million to $241.8 million, a decline of 14.8% from the 2011 quarter (a decrease of 17.6% on a constant currency basis and excluding fair value adjustments). The revenue declines were primarily due to continued softness in our international businesses, the sale of the Every Day with Rachael Ray (EDWRR) publication, and declining renewals on certain of our publications in our North America publishing business.

First quarter 2012 operating loss increased $2.7 million, or 5.0%, to $56.8 million, from the 2011 quarter. The increase in operating loss was primarily the result of declining revenue, as described above. This was partially offset by headcount reductions relating, in part, to our 2011 restructuring initiatives.

EBITDA for the quarter was negative $37.7 million, compared to negative $15.7 million from the 2011 quarter, which has been adjusted to exclude discontinued operations, as well as the (EDWRR) publication, which we sold in October 2011.

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05.09.2012
Avery Dennison Introduces Supreme Wrapping Film in more than 30 Colors and 3 Finishes

Avery Dennison Corporation has developed a new product line, Supreme Wrapping Film, that is wrapped around a vehicle’s exterior to change the color of the car while protecting the original paint job.

The new Avery Dennison product line is available in more than 30 colors, ranging from White Pearlescent to Matte Black, Orange and Grass Green, and a variety of finishes and textures, such as gloss, matte and metallic. Supreme Wrapping Film is similar to paint for vehicles and trucks. The films boast a durability of six to twelve years, depending on the finish and application.

“In many cases, wrapping a car is more affordable than a custom paint job,” said Troy Downey, at APE Wraps, a CarWraps.net listed company, based in San Diego. “Custom designs and colors for cars and trucks have been growing in popularity. They provide the wow factor and are easier to maintain.”

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05.09.2012
Wiley Acquires Higher Education Publisher Harlan Davidson Inc.

John Wiley & Sons, Inc, announced today the acquisition of Harlan Davidson Inc. (HDI), a small family-owned publishing company in Wheeling, IL. The acquisition builds on Wiley’s existing high quality American History portfolio, and strengthens growing curriculum areas such as World History, Atlantic History and State History. The terms of the acquisition were not disclosed.

HDI titles are used by undergraduates in four- and two-year institutions. More students around the world will have access to them as a result of Wiley’s extensive sales and marketing operations and strong relationships across the US and internationally. Wiley’s digital innovation and expertise will also provide the opportunity to offer HDI’s high quality content to a more diverse and wider market online.

Harlan Davidson’s audience and focus is a perfect complement to our own. We already have relationships with a significant proportion of HDI’s authors and feel that this is a natural extension of our work in the field of history to date,” said Steve D. Smith, VP & Books Publishing Director, Social Sciences & Humanities, Wiley-Blackwell. “As a larger business with founding family involvement, we will be well placed to continue to offer HDI authors the highly personalized service to which they are accustomed, but at the same time expose their books to the broader and digital markets to which we have access.”

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05.09.2012
UPM Becomes a Member of Cleantech Finland

UPM has signed a member agreement with Cleantech Finland. UPM believes that cleantech cooperation will support implementation of the company's Biofore strategy as a frontrunner of the new forest industry.

“UPM is a leading producer of biomaterials and renewable energy. Our products are based on renewable raw materials, are recyclable and carbon-binding in addition to providing a bio-based alternative to non-renewable materials. Our strategy and innovations are based on sustainable development leading to a low-carbon bioeconomy. Thus, UPM is essentially a cleantech company,” says Hans Sohlström, UPM’s Executive Vice President for Corporate Relations and Development.

As the Biofore company, UPM is committed to reducing the environmental impacts of its products and operations throughout their lifecycle. Sustainable products, climate, water, forest and waste are key areas of UPM’s environmental responsibility. The company is constantly striving to improve its environmental performance and achieve the long-term targets set for 2020.

“The core of cleantech cooperation involves networking with players in the industry, and cooperation will allow us to put new technological innovations into use more quickly and cost-effectively. Cleantech Finland membership supports our goals and implementation of the Biofore strategy,” says Hans Sohlmström.

The Cleantech Finland network comprises nearly 100 Finnish companies that focus on environmental business. UPM is the first forest company to join the Cleantech family, which already includes many large Finnish companies Kemira, Outokumpu, Metso, Wärtsilä, Vacon, Outotec, Ruukki, Pöyry, Neste Oil and Fortum.

Cleantech Finland links leading cleantech experts and channels Finnish expertise to meet global demand. A new feature of the network is the SOLVED expert service, which brings together companies, customers and other stakeholders, problems and solutions to them on a single platform that makes it possible to utilize completely new operating methods and forms of cooperation.

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05.09.2012
Torstar Corporation Reports First Quarter Results

Torstar Corporation today reported financial results for the first quarter ended March 31, 2012.

Highlights for the quarter: Revenue was $350.8 million in the first quarter of 2012, down $0.6 million from $351.4 million in the first quarter of 2011. Excluding acquisitions and the impact of foreign exchange, revenues were down $11.0 million or 3.1% in the first quarter. EBITDA (see “non-IFRS measures”) was $40.2 million in the first quarter of 2012, down $1.5 million from $41.7 million in the first quarter of 2011.

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05.09.2012
Sun Chemical to Raise Prices on Inks and Coatings in the United States and Canada

Faced with continued volatility in the global supply chain and increases in the costs of certain raw materials, Sun Chemical will raise prices on June 1, 2012 in the United States and Canada by at least: 4 percent for all screen products, 7 percent for all white inks, 3 percent for all non-white liquid products, 3 percent for all energy curable products, and $0.04 per pound on all coldset products.

“We have seen unrelenting cost increases for raw materials such as water-based acrylics, energy curing resins, distillates, ink oils and titanium dioxide, which has another price increase announced for July 1st,” said Charles Murray, President of North American Inks, Sun Chemical. “While we continue to work closely with our supply chain partners to deliver products with the highest-possible value and enhanced competitive edge for our customers, we simply cannot offset the drastic raw material price increases this year across all our product lines.”

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