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Recent Paperclips Industry News
23Oct 18
ND Paper Completes Acquisition of Old Town, Maine Pulp Mill
ND Paper, a wholly-owned subsidiary of Nine Dragons Paper (Holdings) Limited, on Friday, Oct. 19, completed its acquisition of the Old Town kraft pulp mill from OTM Holdings, LLC, a subsidiary of CVG, Inc. Under the terms of the asset purchase agreement, ND Paper acquired the bleached kraft pulp mill, plus approximately 100 acres of real property, for an undisclosed sum, payable in cash. Prior to its idling in the fourth quarter of 2015, the Old Town Mill manufactured and distributed approximately 155,000 air dried metric tonnes (admt) annually of bleached hardwood kraft pulp. After a series of phased capital investments, ND Paper expects the Mill will restart in the first quarter of 2019 and ultimately produce 275,000 admt annually of unbleached kraft pulp.
23Oct 18
ACMA Supports President Trump’s Plan to Withdraw from International Postal Rate System
The American Catalog Mailers Association (ACMA) and the catalog marketers and other remote merchants it represents praise the White House’s intention to withdraw from a longstanding adjunct of the United Nations, called the Universal Postal Union (UPU), which governs global postal rates.
As currently structured, the UPU enables lightweight packages (4.4 lbs. or less) coming from foreign nations, notably China, to be shipped into and across the U.S. at rates cheaper ($1.50) than the USPS charges domestically. “For a long time, this has created unfair competition and nobody has done anything about it,” said ACMA President & Executive Director Hamilton Davison. “Finally, the Administration has taken bold leadership on this issue and we applaud their actions and hope this can get a reasonable transfer price between posts.” “We support the Administration‘s actions to address a longstanding issue,” Davison said, “but remain cautious that this not ultimately undermine commerce or postal finances.” Beyond its concerns over the UPU, the ACMA and its members continue to work with Congress on postal reform issues as well. “However the election shakes out,” Davison said, “we look forward to working with Congressional leadership on reforming our postal system to ensure our members can continue enjoying its fine services with affordable rates.”
23Oct 18
Avery Dennison Announces Third Quarter 2018 Results
Label and Graphic Materials • Reported sales increased 5.0 percent; on an organic basis, sales grew 6.4 percent. Sales on an organic basis increased mid-single digits in Label and Packaging Materials and high-single digits in the combined Graphics and Reflective Solutions businesses. • Reported operating margin decreased 20 basis points to 12.8 percent, including an 80 basis points net benefit from restructuring charges and an Argentine peso remeasurement loss. The benefits from higher volume/mix were more than offset by the net impact of pricing and raw material costs (excluding the effects of currency) and transition costs associated with our European restructuring. Adjusted operating margin decreased 100 basis points to 12.3 percent. Retail Branding and Information Solutions • Reported sales increased 6.6 percent; on an organic basis, sales grew 8.2 percent, driven by strength in both the base business and radio frequency identification (RFID) solutions. • Reported operating margin increased 360 basis points to 10.6 percent, including a 120 basis points benefit from a reduction in restructuring charges. The benefits from higher volume and productivity were partially offset by growth-related investments and higher employee-related costs. Adjusted operating margin increased 240 basis points to 11.4 percent. Click read more below for additional detail.