The Hartola unit in Finland produces pre-fabricated wooden housing modules and is part of Stora Enso’s Wood Products division. In addition to the divestment agreement, Stora Enso and Pyhännän Rakennustuote have signed a partnership agreement which aims to further increase the use of wood in construction. The financial effects of the transaction on Stora Enso are not significant. “This transaction supports the growth of both companies. We will continue providing Pyhännän Rakennustuote with massive wooden construction materials from classic sawn goods to elements such as cross laminated timber (CLT) and laminated veneer lumber (LVL),” says Jari Suominen, Head of Stora Enso’s Wood Products division. “We will create a strong partner network to provide competitive offerings and to promote the use of wood in construction.”
During the drupa 2016 tradeshow, EFI™ and Esko today announced that they have signed a letter of intent to bring a combined workflow solution to market that will enable companies to produce packaging with a single seamless and integrated workflow. This collaboration will connect EFI Fiery® digital front ends (DFEs), Esko workflows, and EFI ERP/MIS solutions to provide a unified production eco-system for packaging companies. In addition, customers using the Esko workflow will be able to prepare jobs once for output and use EFI's optimization tools to route them to their Fiery driven digital production devices with a single seamless experience. EFI and Esko intend to develop a unified workflow for digital printing of packaging using EFI's industry-leading Fiery DFE combined with Esko's industry-leading workflow automation platform. Commercial printers that want to offer folding carton or label printing to their customers using their digital presses will enjoy the benefits of this powerful solution: a simple and efficient method to get access to the best workflow in the industry without having to make a significant new investment in specialized software. In addition, this combined offering will be integrated to EFI's industry-leading ERP/MIS and Web-to-Print solutions to provide a seamless end-to-end workflow from design to delivery for commercial print customers.
Asia Pulp & Paper Group (APP) and the Belantara Foundation last week signed a Memorandum of Understanding (MOU) with South Sumatra provincial government, as well as a declaration of commitment with the West Kalimantan provincial government, to support both provincial governments in sustainable landscape management to achieve green growth in their respective region. Both provinces are leaders in this space and have driven the push for integrating environmental protection and economic growth policy in Indonesia. The agreement with the South Sumatra Provincial Government will run until 30 October 2018 and focuses on developing sustainable landscape management, with particular focus on forest fire prevention and protection of peatland. Both APP and Belantara Foundation also commit to be part of donor committee to fund landscape projects in South Sumatra, managed by the Partnership for Landscape Management (KELOLA) led by the Governor of South Sumatra and supported by Zoological Society of London (ZSL).
BillerudKorsnäs continues in its quest to solve the packaging challenges of the future. Together with Bosch Packaging Technology, the companies are now launching the world’s first Sealed Paper Packaging. This is intended to enable brand owners to reduce their environmental footprints and enhance customer experiences by choosing paper packaging over plastic. This revolutionary solution is perfect for dry foods and keeps both shelves and the environment clean. “We are committed to challenging conventional packaging and this is a natural step – which will be followed by many more such steps,” says Johan Nellbeck, SVP Packaging Paper at BillerudKorsnäs. “By working together with machine suppliers on a broad range of issues, we can explore and unlock the potential of our materials in order to find new solutions to meet packaging needs.
Oil declined for a fourth day on concern recent gains were unsustainable, while shuttered Canadian operations started to reopen. Futures fell as much as 1.8 percent in New York after rising 6.9 percent in May as supply was curbed by wildfires in Alberta and militant attacks in Nigeria. Canadian oil-sands producers including Suncor Energy Inc. have begun resuming operations as cooler weather helps keep the blazes at bay. West Texas Intermediate for July delivery fell as much 87 cents to $48.23 a barrel on the New York Mercantile Exchange and was at $48.43 as of 12:14 p.m. London time. The contract dropped 23 cents to close at $49.10 on Tuesday. Total volume traded Wednesday was 15 percent below the 100-day average. Brent for August settlement declined as much as 2.1 percent to $48.86 a barrel on the London-based ICE Futures Europe exchange. The July contract expired Tuesday after slipping 7 cents to $49.69. The global benchmark crude traded at a 34-cent premium to WTI for August.
Gannett Co., Inc. today urged stockholders of Tribune Publishing Company to “WITHHOLD” votes in connection with the Tribune 2016 Annual Meeting of Stockholders to be held June 2, 2016. Gannett encourages Tribune stockholders to send a clear message to the Tribune Board to engage constructively with Gannett regarding its $15.00 per share all-cash premium offer to acquire Tribune. Gannett’s revised $15.00 all-cash offer represents a premium of 99% to the $7.52 closing price of Tribune’s common stock on April 22, 2016, the last trading day before Gannett publicly announced its initial offer for Tribune. The $15.00 per share offer also represents a 76% premium to the $8.50 share price at which Tribune recently issued common stock to an entity controlled Michael Ferro.
Liqui-Box, a world leader in flexible liquid packaging solutions, announced today that they have signed a definitive agreement to acquire both the Engineering and Flexible operations of Maverick, based in Cape Town, South Africa. Maverick Engineering is the premier manufacturer of bag-in-box making equipment and Maverick Flexibles designs and manufactures specialty films and laminates for food and beverage markets. "Maverick brings a world-class team of people and game changing innovation around all aspects of the bag-in-box manufacturing and converting process that will immediately take Liqui-Box's capabilities to a new level," said Ken Swanson, President and CEO of Liqui-Box. He added, "Combining Maverick with Liqui-Box will be transformational for the bag-in-box market as we fully integrate our various substrates and fitment designs with a best-in-class bag making process into all of our manufacturing plants around the world."
The company acquired the Albert Lea-based company for almost $70 million. The deal for the 250,000 sq. ft. plant 100 miles south of Minneapolis comes just weeks after we officially opened our fourth, $260 million, 100 percent recycled paper mill near Chicago. “This is the 67th factory we’ve built or bought since coming to America 25 years ago,” said Chairman Anthony Pratt. “We have had some very good results which allow us to continually reinvest in the company by building or buying new plants.” Minnesota Box, which has box and high-end display customers throughout the Midwest, has some 150 employees which means company-wide we now employ around 6000 people.
Landa opened drupa 2016 with a flurry of announcements that demonstrate the transition of the company and its Nanography technology from a proof-of-concept, unveiled at drupa 2012, to a robust line of Nanographic Printing presses that address all major print segments. The company has entered into strategic partnerships with Quad/Graphics, the largest publication printer in the U.S., and with Cimpress, the global leader in mass customization and Web-to-print. In addition, Landa announced that it will deploy its presses at beta sites in Europe and the U.S. during 2017, naming its key beta site customers. Landa also announced an ultra-fast perfecting web press designed for publishing and direct mail, which will start shipping in late 2017. Quad/Graphics will strategically collaborate with Landa on bringing Landa Nanographic Printing Presses to the magazine-quality publication market, focusing on cost-effective digital printing for short-run magazines and journals. Quad/Graphics’ Nanographic Printing presses will combine commercial lithographic speeds and quality — even on the lightest-weight coated and uncoated papers. Accordingly, Quad/Graphics will be able to offer short-run magazine and journal printing clients more versatile products.