Costco Wholesale Corporation today reported net sales of $11.33 billion for the month of June, the five weeks ended July 3, 2016, an increase of three percent from $11.03 billion during the similar period last year. The five-week June reporting periods included 34 selling days in both years for the U.S. and Canada. For the forty-four weeks ended July 3, 2016, the Company reported net sales of $98.51 billion, an increase of two percent from $96.33 billion during the similar period last year.
The new Fiery C9 Server drives six models from the C900 Series Multimedia Production Platform. These OKI printers provide a low cost of entry and deliver high value output for graphic designers and print shops seeking to expand print applications across a wide variety of media sizes, types and thicknesses. Customers can now take advantage of an industry-leading Fiery-powered workflow that delivers advanced job and color management capabilities and outstanding performance. The Fiery C9 DFE also includes support for OKI's clear and white toners found in the C941 and white toner found in the C942 leveraging these printers' unmatched capabilities to: •Apply clear toner to selected design elements to make them pop, or coat the entire page for a high-gloss finish •Produce print jobs that incorporate crisp white toner, as a spot color, or intelligently apply white under CMYK to create captivating high-contrast color graphics on dark media •Leverage robust variable-data support, combined with Fiery specialty color features, to apply white or clear toner to envelopes to affordably create sophisticated, attention-demanding mailings
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PEFC-certified companies are now recognized as automatically meeting the due diligence requirements in Australia’s illegal logging regulation. Under Australia’s Illegal Logging Prohibition Regulation 2012, importers of regulated timber products, and processors of Australian harvested logs, are required to establish and maintain a documented due diligence system. The due diligence system sets out the process by which the importer or processor will carry out due diligence and meet the requirements of the regulation. Australia’s Department of Agriculture and Water Resource has determined that under PEFC (including AFS, Australia’s PEFC-endorsed national forest certification system) Chain of Custody standard, certified businesses are required to maintain an equivalent due diligence system.
Packaging Corporation of America today announced that it has entered into a definitive agreement to acquire substantially all of the assets of TimBar Corporation, a large independent corrugated products producer, in a cash-free, debt-free transaction for a cash purchase price of $386 million. Under the terms of the agreement, PCA will acquire five corrugated products plants, two fulfillment centers and four design centers located primarily in the eastern and southeastern U.S. The transaction is structured as a purchase of assets resulting in a full step-up of the assets to fair market value. TimBar, with sales of $324 million in 2015, provides solutions to customers in the higher margin retail, industrial packaging and display and fulfillment markets with a focus on multi-color graphics and technical innovation. As a result of the acquisition, PCA's containerboard integration level is expected to increase by over 200,000 tons or 6% from its current level of 87% and will allow for further optimization and enhancement of mill capacity. The value of the increased containerboard integration, the expected synergies and the tax benefit of the step-up of assets, plus TimBar’s LTM EBITDA, results in a purchase price multiple of approximately 4.3 times EBITDA. The acquisition will be accretive to earnings immediately.
West Texas Intermediate for August delivery was at $46.06 a barrel, down 54 cents, on the New York Mercantile Exchange at 12:07 p.m. London time, the lowest intraday price since June 27. Prices dropped to $46.60 Tuesday, $2.39 below Friday’s close. There was no settlement on the July 4 public holiday. The total volume traded was about 4.6 percent above the 100-day average. Brent for September settlement was 65 cents lower at $47.31 a barrel on the London-based ICE Futures Europe exchange. The global benchmark crude traded at a 55-cent premium to WTI for the same month.
Amid contract negotiations, the national mail company issues a lockout notice to carriers, noting a 75% drop in e-commerce parcel volume in recent weeks as e-retailers shift packages to other firms. Canada Post Corp. today served 72-hours’ notice to the union representing more than 50,000 mail carriers that it may lock out workers starting Friday. If that happens, Canada Post deliveries may grind to a halt. Canada Post—the operator of Canada’s national postal service—and the Canadian Union of Postal Workers (CUPW) have been negotiating their contract since December, and an agreed-to negotiating period expired last week. Canada Post says the terms it presented to the union June 25 are final and that the “prolonged negotiations and the union’s strike mandate is having a negative and escalating impact on the postal service.” The CUPW describes the terms as an insult.
It's the 22nd edition of the magazine worldwide, and the company is taking a digital-first approach, launching the brand as a website in both Arabic and English this fall. According to The Business of Fashion, this will allow the company to learn more about its audience in the aforementioned region at a quicker pace. Condé Nast International will continue to partner with Dubai-based media company Nervora, who it also partners with on Style.com/Arabia. Vogue Arabia will replace and rebrand the existing content on Style.com/Arabia. A spokesperson from the company tells min's sister brand Folio: that Style.com will be re-launching globally later this autumn as an e-commerce platform, allowing the Vogue Arabia website to target the existing fashion-aware audience through a digital-first launch.
In 2015, the European paper industry's performance in total was second best in the world after China, with a stable production and increased consumption compared to 2014. The packaging sector's production continued to increase whilst graphic paper (newsprint, printing and writing paper) maintained its recent decline. This and other figures can be found in the Confederation of European Paper Industries (CEPI)'s recently-launched 2015 Key Statistics brochure, which gives a clear picture of the industry's performance last year. The report includes data on production, consumption and the trade of pulp, paper and raw materials, as well as on energy and environment. Here are the main highlights of the report: •CEPI members produced 90.9 million tonnes of paper and board. This corresponds to a slight decrease of 0.2% in 2014 and relative stability over the last three years. The operating rate for 2015 was 91.2%, up from 89.7% in 2014. •Graphic grades (newsprint, writing and printing paper) represented 38.8% of all paper and board produced in Europe in 2015, packaging grades 49.0%, sanitary and household papers 7.9% and speciality grades 4.3%.
With a committed government, engaged local stakeholders and a new PEFC support office, Viet Nam is well on the road to developing its own national forest certification system in line with PEFC international requirements. “It is fantastic to be here and see the strong desire from the national government and local stakeholders alike to develop the Vietnam Forest Certification Scheme (VFCS),” said Ben Gunneberg, CEO of PEFC International, during his visit to the country. “The progress they have made so far, and the sheer potential for uptake of forest certification, is impressive.” The government’s commitment to establishing the Vietnam Forest Certification Council (VFCC), which will take on the role of running the national system, was once again reiterated by Mr. Ha Cong Tuan, Deputy Minister of Ministry of Agriculture and Rural Development (MARD) as he met with Ben for a one-on-one meeting.