Gleysteen, who is senior vice president of production at the US-headquartered business, was behind the media group’s decision to move all its titles to Polestar in 2014, when Time Inc UK agreed a single source supplier deal with the print group. Prior to that the circa £20m contract had been split between Polestar and Wyndeham Group. Time Inc UK’s portfolio includes a raft of time-critical weeklies with large circulations. Its biggest title is What’s On TV, which had a circulation of 993,210 in the latest ABC report and is the UK’s second-largest actively purchased magazine.
Fischer Paper Products has joined Two Sides North America, the non-profit organization that promotes and encourages the responsible production, use, and sustainability of print and paper. “It’s a well-known fact that many retailers and communities are switching from plastic to paper bags for environmental reasons. Fischer Paper Products is a provider of such paper products and we are very proud to have them as a new members of Two Sides. We look forward to helping them promote the environmental features of paper,” says Two Sides North America President, Phil Riebel.
Sappi North America, a leading producer and supplier of diversified paper and packaging products, has announced the release of its 2015 Sustainability Report. The report showcases Sappi's industry leading sustainability performance. "Each year, we look forward to reporting our progress against the five year goals we set to ensure that Sappi North America continues as a thriving, sustainable, re-investable company," said Mark Gardner, President and Chief Executive Officer. "We have an eye to the future and are committed to make those decisions which best position our company in the changing business environment."
Total revenues for the three months ended March 31, 2016 decreased marginally to $253.8 million from $257.5 million in the same quarter of 2015, due to lower pulp revenues. Pulp revenues in the first quarter of 2016 decreased by approximately 2% to $230.6 million from $234.7 million in the same quarter of 2015, due to lower pulp sales realizations partially offset by higher sales volumes. Energy and chemical revenues increased marginally to $23.2 million in the first quarter of 2016 from $22.9 million in the same quarter of 2015, primarily due to higher sales volumes. Pulp production increased by approximately 4% to 377,992 ADMTs in the current quarter from 362,629 ADMTs in the same quarter of 2015, primarily due to no annual maintenance downtime in the current quarter compared to 14 days in the same quarter of 2015.
* Higher Lumber Prices - Product prices were higher in Q1’16 versus Q4’15, with the Western SPF Composite and the Southern Pine (“SP”) Composite up over the prior quarter by US$6 and US$20 per mfbm, respectively. * Weaker Canadian Dollar - The Canadian Dollar was weaker on average against the U.S. Dollar as compared to the prior quarter, averaging 1.3732 in Q1’16 versus 1.3354 in Q4’15. However, the Canadian Dollar strengthened significantly against the U.S. Dollar in the latter half of Q1’16 to close the period up 6.3% over the rate at December 31, 2015. * Higher Lumber Production - The Company produced an additional 50 million board feet in Q1’16 versus Q4’15. The production increase is a result of: (i) the return to a normal operating schedule at the Castlegar mill in Q1’16 versus the mill restart during Q4’15; (ii) the improvement in weather conditions near the Georgetown mill that negatively impacted operations in Q4’15; and (iii) incremental operating days in Q1’16 versus the holiday-impacted schedule in Q4’15.
• Net sales grew to EUR 672 million (EUR 630 million) • EBIT improved to EUR 58 million (EUR 50 million) • EPS improved to EUR 0.40 (EUR 0.33 excluding NRI) • Comparable net sales growth was 6% in total and 8% in emerging markets • Currency movements had a negative impact of EUR -11 million on the Group’s net sales and EUR -1 million on EBIT • Free cash flow was solid at EUR 26 million (EUR -19 million)
Graphic Packaging Holding Company announced that its wholly-owned subsidiary, Graphic Packaging International Australia Pty Limited, has completed the previously announced acquisition of 100% of the outstanding shares of Colorpak (ASX: CKL), a leading folding carton supplier in Australia and New Zealand. Colorpak operates three converting facilities located in Melbourne, Australia, Sydney, Australia and Auckland, New Zealand.
National Average Price for Regular Unleaded Current: $2.196; Month Ago: $2.041; Year Ago: $2.563 National Average Price for Diesel Current: $2.175; Month Ago: $2.103; Year Ago: $2.810
US Dollar to Canadian Dollar = 0.798464; US Dollar to Chinese Yuan = 0.154145; US Dollar to Euro = 1.138608; US Dollar to Japanese Yen = 0.009331; US Dollar to Mexican Peso = 0.058277
Crude oil continued to trade higher on April 28. It was supported by the weaker dollar. At 3:00 PM EST, the West Texas Intermediate crude oil futures contract for June delivery was trading at $46.02—a gain of 1.5%. Brent crude was trading at $47.76—a rise of 1.8%. The dollar weakened on April 28 against all of the major currencies. According to data released by the Bureau of Economic Analysis at 8:30 AM EST, the US gross domestic product growth for 1Q16 was 0.5%. This is the weakest first quarter growth in two years.