Expera Specialty Solutions, LLC (“Expera”) announced today the shutdown of assets related to the Old Town pulp mill (“Old Town”) in Maine. Expera acquired the assets in December 2014. Expera purchased the facility after the mill had been closed indefinitely by its previous owners. “Expera successfully restarted the mill,” said Russ Wanke, President and CEO of Expera Specialty Solutions. “However, since the restart, the decline of the Canadian dollar exchange rate combined with a significant increase of new pulp capacity has led to a material drop in market pulp prices. In addition, wood costs have not moderated in Maine commensurate with demand decline. The combination of these forces does not allow sustainable operations even with a dedicated and talented team of employees.”
UPM and the Finnish Environment Institute (SYKE) have been developing a method for assessing ecosystem services derived alongside the production of wood-based products. This pilot study focused on the environmental impacts resulting from the growth of trees used for the production of one tonne of pulp. In this study, the carbon sink effect, water protection and the sustainability of native forest species were analysed in detail. The study confirmed that the forest area from where pulpwood is sourced yields multiple benefits besides just wood raw material. The study examined the amount of wood required for the production of one tonne of softwood pulp at UPM in Finland, as well as the time required for the trees to grow. The trees purify over eight million litres of water and absorb over 4,000 kg of carbon dioxide during their lifetime.
The UPM Foundation promotes education and entrepreneurship through joint work with social organisations and local representatives in Uruguay. It annually publishes a report presenting its objectives, operations and latest achievements. “We are seeking to promote the long-term development and growth of these communities in cooperation with local stakeholders in rural areas. Our work is carried out in collaboration with social organisations, public institutions, departmental and national authorities and other social agencies,” says Magdalena Ibanez, Manager of UPM Foundation. Established in 2006, the foundation’s mission is to bring together local stakeholders, communities and authorities especially in the fields of education and training in the departments where UPM is active.
Canfor Corporation (TSX:CFP) announces that it has entered into an agreement to purchase Anthony Forest Products Company located in El Dorado, Arkansas ("AFP") for a purchase price of $93.5 million US which includes approximately $15 million US of working capital. AFP operates 6 facilities producing lumber, engineered wood and wood chips with a combined capacity of 250 mmbf equivalent. AFP owns a sawmill located in Urbana, Arkansas which produces premium Southern pine lumber and has an operational capacity of 150 mmbf per year. It also owns laminating facilities in El Dorado, Arkansas and Washington, Georgia, which produce beams, columns and other glulam products with an annual combined capacity of 75 mmbf, and owns chip mills in Louisiana and Texas with a total annual capacity of 800,000 tons. AFP also owns a 50% interest in Anthony EACOM Inc. a joint venture with EACOM Timber Corporation, located in Sault Ste. Marie, Ontario which manufactures I- joists, with an annual capacity of 54 million lineal feet.
The Nexstar Broadcasting Group could scuttle Media General’s deal to buy a majority stake in Meredith Corp. through a bid announced today to acquire Media General for $10.50 per share. The transaction, including debt, would value Media General at $4.1 billion. The offer comes three weeks after Media General announced it was buying a 65 percent stake in Meredith Corp. for $2.4 billion. According to those two companies, the deal will create the third-largest owner of network affiliates, with 88 stations in 54 markets. Meredith CEO Stephen Lacy is in line to lead the combined entity. The Nexstar bid, delivered to Media General as a letter, describes the Meredith deal as “ill-conceived” and contends that a Nexstar/Media General merger would offer even bigger scale—162 stations in 99 markets versus 82 stations in 54 markets.
Papierfabrik August Koehler SE will be raising the prices of its recycled paper Euler ColorTech Paper by 6% for deliveries made from January 1st, 2016 onwards. In face of rising costs the current price level is not sufficient to achieve profitable results despite improvements in efficiency and ongoing cost cutting schemes.
At Labelexpo Europe EFI™ (stand 9C40) is showing the first fully inline LED inkjet digital printing system available with laser cutting and finishing for lean label production. The production line features the 13-inch (330-mm) wide EFI Jetrion® 4950LX LED narrow web press with a white ink module. To complement its high-productivity press, EFI is demonstrating a new Enterprise Packaging Productivity Suite custom configured to address the needs of three segments: label, flexible packaging and folding carton converting, as well as tighter integration with Esko's Automation Engine. EFI Jetrion LED press with white ink and inline finishing The automated Jetrion 4950LX press with integrated finishing has a superior, 720x720 dots per inch resolution. Plus, EFI is demonstrating a faster, 164-feet (50-meter) per minute speed, a higher level of throughput that can make digital inkjet label converting an even more useful option as a replacement for flexographic printing.
The U.S. oil production boom of the past several years was a major catalyst in the ensuing oil price drop, and bulls expected those prices to bounce back when the output slowed. But a sustained recovery hasn’t happened, despite the U.S. slowdown, because the market’s focus has shifted to solid production from other parts of the world, including Russia, Saudi Arabia and Iraq, Nicole Friedman reports. “I would have thought [prices] would be higher, with the data points, but maybe people need another month or two” of statistics, said Eric Nuttall, portfolio manager at Sprott Asset Management, which manages about $5.8 billion. A month ago, Mr. Nuttall’s $37 million fund was fully invested in oil-company shares. Since then, he has closed out some of those wagers.
R. R. Donnelley & Sons Company (Nasdaq:RRD), a leader in providing multichannel communications, announced today that it will showcase its expansive portfolio of direct response communication products, services and solutions at &THEN, the Direct Marketing Association's annual event, October 4-6 at the Boston Convention Center in Boston, Mass. The &THEN event is designed to deliver the latest global marketing experiences for data-driven digital marketers. RR Donnelley will feature tools that help to improve customer engagement, increase customer loyalty and elevate direct response ROI. "With today's always-connected consumer, brands need breakthrough campaigns that capture attention, encourage desired behavior and build new levels of customer loyalty," commented Dan Thornton, Senior Vice President of RR Donnelley Response Marketing Services. "Our broad suite of multichannel direct response solutions can help brands create the personalized, highly relevant communications that lead to meaningful customer experiences and better bottom lines."
After 43 years of operation, Crocker Technical Papers will close before the end of the year, leaving about 40 of its employees without jobs, according to a spokesman with Neenah Paper Inc., which owns the specialty-paper mill. "The operation is just not sustainable or efficient," said Bill McCarthy, vice president of financial planning and analysis and investor relations for Neenah Paper. "We expect operations to cease sometime in the fourth quarter." He also said the paper mill, which produces multilayered papers, boards and specialty papers used for protecting important documents, has been operating on a limited schedule for several months.