UPM has launched a new, comprehensive paper range for digital printing. Covering the widest possible range of digital end-user applications, UPM Digi papers come in a variety of tailored categories designed to fit a specific purpose and press. Enabling users to take full advantage of the possibilities of digital printing, UPM Digi papers are available in both wood-free uncoated (WFU) and wood-free coated (WFC) options, and in a wide spectrum of basis weights ranging from 80 to 350 g/m². UPM’s environmental thinking is based on a policy of continuous improvement and attention to each product’s lifecycle from the origin of the wood raw material to disposal of the product by its end-user. Using 100% wood fibre raw material sourced from sustainably managed forests, UPM is constantly improving the resource efficiency of its paper mills and processes. UPM uses less water and energy than ever before, helping your paper meet even the most demanding sustainability requirements.
American workers employed in the U.S. forest products industry visited Washington, D.C. this week to meet with members of Congress and administration officials. Their goal was to educate elected and appointed officials and staffers on the impact of legislative and regulatory decisions both on the environment and on the families and communities that depend on forest products manufacturing for their livelihood. The Pulp & Paperworkers' Resource Council (PPRC) is a grassroots organization of hourly employees of the forest products industry who educate on issues that impact jobs in their industry. More than 70 PPRC members from across the U.S. were in Washington this week to discuss several issues including the carbon neutrality of biomass and manufacturing byproducts, clean water, the regulatory burden impacting American manufacturing, endangered species, renewable energy, greenhouse gas regulations, truck weight reform and ensuring the competitiveness of the U.S. forest products industry.
With no resolution in sight to the tense labor stalemate, 29 West Coast ports will sit idle from Saturday through Monday as numerous trade groups and legislators on both sides of the aisle urge President Obama to intervene via the Taft-Hartley Act, which would keep the cargo moving while the sides continue federal mediation. Port work continued today but was shut down on Thursday, which was a mandated holiday (Lincoln’s birthday) for 20,000 members of the International Longshore and Warehouse Union (ILWU). Across the labor chasm from that group is the Pacific Maritime Association (PMA), representing the port owners, which ordered the shutdown in reaction to what it said was a deliberate labor slowdown by the union. On Thursday, U.S. Reps. Dave Reichert (R-WA), Kurt Schrader (D-OR), Dan Newhouse (R-WA) and Jim Costa (D-CA) introduced a House resolution which said negotiations between PMA and the ILWU must end quickly. The group also said in the resolution that in the event of a strike or lockout, the Obama administration “must intervene to end the dispute to protect American workers and the national economy.”
On 13 February 2015, Metsä Fibre signed letters of intent with Valmet Corporation and Andritz Oy to provide the main equipment deliveries for the Äänekoski bioproduct mill. If the prerequisites for the investment are met, the decision on the construction of Metsä Fibre's planned bioproduct mill in Äänekoski will be made this spring. Final delivery contracts will be signed if Metsä Fibre decides to go ahead with construction of the mill. The letter of intent with Valmet covers the bioproduct mill's recovery boiler, pulp drying line, lime kiln and bark gasification plant, as well as the mill's automation system. According to the letter of intent with Andritz, the company will deliver the bioproduct mill's fibre line, wood processing plant, evaporation plant, and recausticising plant.
The march of native advertising continued this week, as Forbes dispensed with another traditional taboo. It put a native ad on the cover of its print edition for the March 2, 2015 issue, due out on newsstands on Monday. The ad for Fidelity Investments calls out the FidelityVoice branded content inside the magazine; FidelityVoice is a regular feature in Forbes’ print and online publications, appearing as part of Forbes’ BrandVoice native ad offerings.
New chairman of the House Oversight and Government Reform Committee Jason Chaffetz (R-UT) was not happy as he faced down the biggest perpetrators of governmental abuse in a hearing yesterday. “You can try to put lipstick on this pig, but the reality is, it is ugly. To get on this list, you have to be engaged in waste, fraud, and abuse in excess of a billion dollars a year,” he said to Gene Dodaro, comptroller general of the Government Accountability Office, which compiles the “High-Risk” list, and representatives from the top five agencies on it. The U.S. Postal Service was not one of those ugly, chosen few, but it was one of 30 governmental entities on the list nonetheless because, said the GAO report released this week, it "continues to be in a serious financial crisis, with insufficient revenues to cover its expenses and financial obligations." Here are the risk factors named by GAO, a succinct portrait of the Postal Service's sorry situation: •A 27% decline in mail volume to 155 billion pieces from a peak of 213 billion in 2006; •An even steeper, 35%, nose-dive for USPS's most profitable product, First-Class Mail; •Unfunded liabilities of about $102 billion—$87 billion of it for payments in pension and retiree health benefits and workers' compensation liabilities, the rest in outstanding debt to the U.S. Treasury; •Statutory limitations on taking action to reduce its financial pressures, such as moving to five-day delivery;
Futures climbed for a third week as companies including Apache Corp. and Total SA announced spending cuts. Bad weather kept tankers from loading in southern Iraq and Libya’s production decreased. Baker Hughes Inc. said rigs targeting oil in the U.S. dropped to the lowest in almost five years. “To maintain production growth you are going to have to drill more,” Phil Flynn, senior market analyst at the Price Futures Group in Chicago, said by phone Feb. 13. “There’s loading issues in Iraq and production issues in Libya. Some people were caught off guard. The fundamentals are changing here.”
Time Inc. (NYSE:TIME) reported financial results for its fourth quarter and full year ended December 31, 2014. Time Inc.'s Chairman and CEO, Joe Ripp said, "Over the past year, we’ve been fundamentally re-engineering the business, and re-positioning our company for its return to growth. We have made significant progress toward the transformation of the cost structure, and successfully protected our margins and cash flows. We accelerated the growth and monetization of our digital audiences. We also became a stand-alone public company for the first time since January 1990. As we look forward, we expect 2015 to be a pivotal year as we launch a portfolio of growth initiatives. One of the unique sources of upside for Time Inc. is the ability to extend our powerful brands into new revenue streams. We are very excited by the opportunities provided by our brands." Revenues for the fourth quarter of 2014 decreased $71 million or 7% versus the prior year to $895 million. Excluding the impact of the Corporate Transactions, Revenues would have declined 4%. For the full year 2014, Revenues decreased $73 million or 2% versus the prior year to $3.28 billion. Excluding the impact of the Corporate Transactions, Revenues would have declined 5%.
Shutterfly, Inc. (NASDAQ:SFLY), the leading manufacturer and digital retailer of high-quality personalized products and services offered through a family of lifestyle brands, today announced financial results for the fourth quarter and full year-ended December 31, 2014. "2014 was another outstanding year for Shutterfly," said Jeffrey Housenbold, President and CEO of Shutterfly. "We delivered record results for revenue, adjusted EBITDA, and free cash flow, and we also returned nearly $90 million of capital back to our shareholders through our share repurchase plan. We continue to thoughtfully balance our strategic investments across our multiple objectives of gaining market share, widening our competitive moat, and driving continuous innovation to deliver increased shareholder value over both the short and long term."
Mercer International Inc. (Nasdaq: MERC, TSX: MRI.U) today reported strong results for the fourth quarter and year ended December 31, 2014. Operating EBITDA* in the fourth quarter of 2014 increased to $71.3 million from $27.2 million in the fourth quarter of 2013 and $67.6 million in the prior quarter of 2014. For 2014, Operating EBITDA increased markedly to $239.8 million from $110.3 million for 2013. For the fourth quarter of 2014, we had net income of $3.2 million, or $0.05 per basic and diluted share, after giving effect to a loss of $28.5 million, or $0.44 per basic and diluted share, on the payout and settlement of our old 2017 9.5% senior notes and Stendal bank credit facilities in connection with our refinancing effected in November 2014, compared to net loss of $9.8 million, or $0.18 per basic and diluted share, in the fourth quarter of 2013. For 2014, net income improved to $113.2 million, or $1.82 per basic share and $1.81 per diluted share, from a net loss of $26.4 million, or $0.47 per basic and diluted share, in 2013.