Anu Ahola has been appointed Senior Vice President responsible for SBU Newspaper Publishing, UPM Paper ENA (Europe and North America) as of March 1, 2016. Anu Ahola is currently Senior Vice President responsible for Strategy & Energy within UPM Paper ENA. She has been in her current role since 2013. Ahola joined UPM in 2007 being responsible for strategy creation and implementation processes and Paper Business Group's strategy development. Prior to joining UPM she worked for Nokia and Pöyry.
With the deadline just over two weeks away, we encourage anyone who was not yet applied for the 2016 Collaboration Fund to send us their proposals for new and innovative projects. The last day for submitting your proposals is 18 March 2016. Interested in getting involved? Through the Collaboration Fund we seek to support efforts to advance sustainable forest management and forest certification around the world by our members and partner organizations. Any new and independent projects which embody and stand to deliver on the Fund’s objectives while be considered.
Stora Enso has two paper mills in China, as well as core factories, production and distributing units through the packaging company Inpac. The Beihai consumer board mill project is the first time the company has started building a mill on an empty field in China. The idea of establishing a complete production chain in Guangxi, from raw material to end product, came in 2006. Already, Stora Enso had been establishing sustainable eucalyptus plantations in Guangxi since 2002. Then in 2012, Stoar Enso announced the plan to build a world-class integrated consumer board mill in China, to provide excellent service with cost-competitive, locally produced high quality liquid packaging boards on a regional basis for global key customers.
Chris Hughes, co-founder of Facebook, has confirmed the sale of The New Republic, after a failed attempt to revitalize the century-old magazine. Win McMormack, political activist and publisher of Tin House, has emerged as the buyer. Terms of the deal have not been disclosed.
The latest data from Genscape show that the crude oil inventory at Cushing, Oklahoma, rose by 503,000 barrels between February 19 and February 24, 2016. The API (American Petroleum Institute) reported that the Cushing crude oil inventory rose by 0.31 MMbbls (million barrels) for the week ending February 19, 2016. The EIA (U.S. Energy Information Administration) reported that the Cushing crude oil inventory rose by 333,000 bpd (barrels per day) to 65 MMbbls for the same period. The Cushing crude oil inventory has risen due to the increase in supply as a result of new pipelines coming online and the increase in storage capacities in response to long-term oversupply concerns. The pipeline infrastructure in this area is the Keystone pipeline owned by TransCanada (TRP). The rise in the Cushing crude oil inventory might boost crude oil and refined products exports. However, the current WTI-Brent spread makes US crude oil exports unviable.
Following a period of downward price pressure last year, the softwood pulp market stabilized in early 2016 and the outlook is now improving. As a result, a number of global price initiatives have already been announced. "We know from experience that the spring is typically characterized by stronger demand than the start of the year, and that this is also a time for maintenance stoppages in Europe. That's why we anticipate that the market will tighten even further", said Magnus Björkman, President of Södra Cell International.
Effective with shipments April 1, 2016, pricing will increase $3.00/cwt for the following products: • Husky® Opaque Offset Rolls •EarthChoice® Opaque Offset 30% Rolls •Domtar Reply Card Rolls •EarthChoice® Tradebook Rolls All standard differentials and upcharges remain in effect.
Macy's, Inc.'s board of directors today announced actions to enhance the company's shareholder returns through an increase of $1.5 billion in share repurchase authorization and its intent to increase the July dividend by 5 percent. The company also is declaring a regular April dividend. "Our company continues to generate significant cash flow. We are committed to enhancing shareholder value, in part, through dividends and share repurchases while simultaneously returning our leverage ratio to within our targeted range of 2.5 to 2.8," said Terry J. Lundgren, chairman and chief executive officer of Macy's, Inc.
Absent Congressional or court action to extend or make permanent an existing exigent surcharge for mailing products and services – including the Forever stamp -- the Postal Service will be required to reduce certain prices on Sunday, April 10, 2016. This mandatory action will worsen the Postal Service’s financial condition by reducing revenue and increasing its net losses by approximately $2 billion per year. An order from the Postal Regulatory Commission (PRC) requires the 4.3 percent exigent surcharge to be reversed after the Postal Service has collected surcharges totaling $4.6 billion. As outlined in a notice filed with the PRC today, that amount is expected to be reached by April 10th.
Graphic Dimensions has joined Two Sides North America, the non-profit organization that promotes and encourages the responsible production, use, and sustainability of print and paper. “We have observed the great work that Two Sides has accomplished for many years. We are excited to become a member of this organization. The knowledge base that they have amassed and continue to provide is very impressive. Being that we are dedicated to the growth of the print industry our association with this organization is a perfect fit,” said Bill Reid – Graphic Dimensions VP of Sales and Marketing.