Reports out of Chetwynd, B.C. suggest that the town’s idled pulp and paper mill is about to restart. According to a story in Business in Vancouver, Paper Excellence plans to reopen the mill as early as May 1st. The former Tembec mill has been shut down since September of 2012. The report was unconfirmed by Paper Excellence, but officials for the union representing mill workers confirmed that the company is working towards restarting the mill.
* Revenue for the third quarter of fiscal year 2015 was $339.9 million, a 19 percent increase compared to revenue of $286.2 million reported in the same quarter a year ago. The year-over-year strengthening of the U.S. Dollar has negatively impacted the U.S. Dollar value of our revenues generated from countries other than the United States. Excluding the estimated impact from currency exchange rate fluctuations and revenue from businesses acquired during the past twelve months, total revenue grew 11 percent year over year in the third quarter, in line with our expectations. * Gross margin (revenue minus the cost of revenue as a percent of total revenue) in the third quarter was 63.1 percent, down from 64.7 percent in the same quarter a year ago. The year-over-year reduction in gross margin was primarily due to the mix effect of our acquisitions of Printdeal and Pixartprinting, which have lower gross margins than our Vistaprint-branded business. Excluding the businesses we acquired during the past twelve months, our gross margin increased moderately year over year driven by efficiency gains and currency fluctuations.
Polaris Direct, a nationally acclaimed direct marketing services provider and print company, is the first in the United States to install the new Xerox Impika Evolution inkjet press. With a focus on the future, and expertise in creating high-volume personalized communications, Polaris Direct sees now as the time to invest in the latest technology changing the dynamic of one-to-one marketing campaigns. “Data driven technology like the Evolution can bring personalized messaging with greater efficiencies and scale to our clients,” said Judith Maloy, Polaris Direct, director and CEO. The Xerox Impika Evolution has run speeds of 832 feet per minute and VHQ print with up to 600×1,200 dpi. It produces quality variable data four-color mailings at high-speeds and volume.
Net sales of $2,456 million for the second quarter of fiscal 2015 increased $62 million compared to the second quarter of fiscal 2014 as a result of sales from the Tacoma Mill acquisition completed in fiscal 2014 and higher corrugated volumes. Segment income of $222 million for the second quarter of fiscal 2015 increased $20 million compared to the prior year quarter. The increase in segment income was primarily due to the achievement of an estimated $22 million in productivity improvements, lower fiber and energy prices, less weather disruption than in the prior year quarter and higher corrugated volumes which were partially offset by decreased corrugated selling prices, lower merchandising displays income and other costs across our business.
Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported net earnings of $36 million ($0.56 per share) for the first quarter of 2015 compared to net earnings of $71 million ($1.10 per share) for the fourth quarter of 2014 and net earnings of $39 million ($0.60 per share) for the first quarter of 2014. Sales for the first quarter of 2015 were $1.3 billion. Operating income before items1 was $90 million in the first quarter of 2015 compared to an operating income before items1 of $115 million in the fourth quarter of 2014. Depreciation and amortization totaled $90 million in the first quarter of 2015. The decrease in operating income before items1 in the first quarter of 2015 was the result of lower average selling prices for paper and pulp, higher raw materials costs and higher other costs.
Today in Albany, N.Y., representatives of the American Forest & Paper Association (AF&PA) and the American Wood Council (AWC) are meeting with state lawmakers to discuss legislative proposals that would affect the 30,000 New Yorkers who work in the industry. Two hundred and eighty-four pulp, paper, paper packaging and wood products facilities operate in New York. These facilities employ 30,000 New Yorkers with an annual payroll of approximately $1.6 billion. Estimated state and local taxes paid by the industry total $179 million annually.
US commercial crude oil inventories increased marginally last week. Inventories at Cushing, Oklahoma—the delivery point for US futures—declined for the first time since November 2015. Inventories dropped by 514,000 barrels for the week ending April 24 from the previous week. Inventories declined due to improved demand from refineries. Weekly US production gained marginally to 9.373 MMbpd (million barrels per day) from 9.366 MMbpd for the week ending April 24, 2015. Over the same period, US crude oil imports decreased marginally by 7.446 MMbpd from 7.765 MMbpd. In contrast, the US dollar declined against the basket of currencies. The dollar index fell by 1% and also supported crude oil prices.
Highlights: 1st Quarter 2015 (vs. 1st Quarter 2014): * Turnover up 6.4% to € 388.8 million * Integration of AMS' tissue business * Pulp and paper prices perform well * Strategic projects move ahead * Net debt / EBITDA ratio remains at 0.9
Iggesund’s specialised range for digital print is stocked by Antalis in the UK whereas for other uses Iggesund has two merchants distributing Invercote and Incada - Antalis and Elliott Baxter & Co. “We’re happy that in the past few months we’ve been able to start working with Antalis and Elliott Baxter & Co as our main partners in the UK wholesale market,” says Rikard Papp, director of Iggesund’s sales to merchants. “Via these two distributors, Invercote G, Invercote Creato (1s and 2s SBB grades), Incada Exel and Incada Silk (1s and 2s FBB grades) are now available for purchase throughout the UK.” Iggesund has a specialised range for digital print and that will continue to be stocked by Antalis in the UK.
This year they will cover the area of 34,000 ha and include artificial, natural, and combined reforestation activities and tending of young stands. As a responsible forest manager, Ilim Group performs reforestation activities on an annual basis. In 2014, Ilim experts performed reforestation work on leased timberland in the Irkutsk, Arkhangelsk, Vologda Oblasts, Komi Republic and Krasnoyarsk Territory covering the area of 28.9 thousand ha. Over 3.8 million of pine and spruce seedlings and 2 thousand kilograms of pine and spruce seeds were planted as part of the effort to create forest plantations. Tending of young stands was carried out over an area exceeding 4.500 ha.