InnerWorkings Inc., the leading global marketing execution firm, announced a new long-term alliance with global lodging company Choice Hotels International. Under a multi-year agreement, InnerWorkings will deploy an integrated solution across a broad scope of marketing channels for Choice Hotels, including direct mail, branded merchandise, signage, and other marketing collateral. InnerWorkings will also implement a custom eCommerce and fulfillment platform, delivering a comprehensive marketing supply chain solution to support Choice's extensive brand portfolio. Click Read More below for more of the story.
Following its Biofore approach, UPM Paper ENA has reached the next significant milestone in the company's sustainability journey, as now all its mills produce papers that are awarded with the EU Ecolabel. The UPM Hürth paper mill completed the full range on June 5th, when its products received the EU Ecolabel certificate. The mill achieved the needed reduction in emissions by switching to more sustainable sources of energy. "Being able to provide our customers with EU Ecolabel awarded products from all of our mills is a great achievement, which we can be proud of," says Päivi Rissanen, Sustainability Director, UPM Paper ENA. "The EU Ecolabel criteria covers all relevant environmental aspects and is a good proof of solid sustainability performance." Click Read More below for additional details.
Sonoco has released its 2016-2017 Corporate Responsibility Report. The report, which is available on the Company’s website at www.sonoco.com/sustainability, celebrates Sonoco’s successful projects while reporting on the Company’s significant progress toward long-term sustainability goals. In 2016, Sonoco reduced total water usage by 4.09 percent, total energy usage by 0.52 percent and total greenhouse gas emissions by 3.35 percent (all figures are year over year). Sonoco Recycling recovered the equivalent by weight of 57 percent of the product that Sonoco places into the marketplace. Click Read More below for additional details.
LSC Communications announced that it has acquired Fairrington Transportation, an industry leading full-service mailing and logistics provider. Fairrington’s capabilities include a complete range of logistics services from freight management to postal optimization solutions. Founder and CEO of Fairrington, Victor Warren said, “Fairrington has been providing delivery solutions that meet our clients’ needs for 36 years. We are excited that joining forces with LSC will give us the scale necessary to expand our service offerings.” Thomas J. Quinlan III, Chairman and CEO of LSC, further commented, “Fairrington’s experienced leadership, combined with the fact that publications such as magazines and catalogs are at the core of many of our clients’ businesses make this acquisition a natural fit for LSC. Our strategic focus is to continue to expand LSC’s logistics service offering in ways that add value to our clients’ traditional print supply chains, and beyond.”
Oil gained last week to rise above its 200-day moving average for the first time since May as concerns eased that efforts by the Organization of Petroleum Exporting Countries and its allies to curb output will be offset by rising production elsewhere. Police in Venezuela clashed with demonstrators after a vote Sunday to elect members of a new legislative body that President Nicolas Maduro insisted is needed to restore order after months of protests. “Depending on how the Trump administration decides to proceed going forward, of course that could have implications,” including potentially blocking imports of Venezuelan crude, said Harry Tchilinguirian, a commodities analyst at BNP Paribas SA in London. “It’s very unclear at this stage what course the U.S. administration will follow.” Click Read More below for additional details.
Cenveo, Inc. announced that it is transferring its stock exchange listing to the Nasdaq Global Market from The New York Stock Exchange ("NYSE"), effective August 7, 2017 after market close. Cenveo shares will begin trading as a Nasdaq-listed security on August 8, 2017, and will continue to trade under the symbol CVO. Robert G. Burton, Sr., Chairman and Chief Executive Officer stated: "We are pleased to partner with Nasdaq as the new home for our stock listing. We believe Nasdaq's reputation as the leading exchange for companies launching technology solutions is consistent with Cenveo's leadership in developing product offerings such as Kadena 2.0, a cloud-based platform focused on the performance of print and mail communications, fulfillment and supply chain management for mid to large sized enterprises. Nasdaq's increased share of our stock's trading volume also makes them an ideal trading platform for our company. Additionally, the move will provide Cenveo access to a broad portfolio of tools and services to reach our investors in a cost effective manner all of which will contribute to our profitability improvement plan we announced earlier this year. We thank the NYSE for all their support during the past several years."
We are very proud to announce that Ink has signed a new partnership with the UK’s iconic challenger airline Virgin Atlantic, where we will revamp its inflight magazine Vera, as well as represent all media sales. From September, we will create an upgraded magazine for Virgin Atlantic’s loyal customers, with a complete relaunch in October. The new Vera will be a dazzling entertainment and travel magazine, that cleverly connects the onboard entertainment offering with original destination tips from across Virgin Atlantic’s global network. Mark Anderson, Executive Vice President, Customer at Virgin Atlantic said: “Offering our customers a unique and memorable experience is absolutely key to us at Virgin Atlantic; so we are delighted to be working with Ink’s expert team to give our inflight magazine a total makeover. Expect a new and exciting travel and entertainment magazine from October 2017.” Click Read More below for more of the story.
Following the recent decision of the Supervisory Board of Papierfabrik August Koehler SE, the globally active paper specialist will have invested approximately half a billion Euro in growth by 2020. “We’re able to do this thanks to our position of strength and exceptional business developments in the past,” explains Kai Furler, CEO of the German family-owned company. More than €300 million is also being directed to the Kehl production facility, where Koehler will be creating more than 100 new jobs over the next two years. The primary investment is going to a leading global technology in the form of a specialty paper machine with Yankee cylinder. The off-machine coater will be equipped with multiple cutting-edge coating application technologies in order to help shape attractive market segments in the sector of flexible packaging. The total capacity will be well over 100,000 tons a year. That represents a clear commitment to paper and board, says CEO Kai Furler, as well as the largest individual investment in the company’s 210-year history. Click Read More below for additional details.
As announced on 14 July 2017, the ad hoc committee of holders of the EUR 290 million senior secured notes and the holders of the EUR 100 million NSF loan notes due 2020 (the "NSF"), who hold approximately 46 per cent. of the group's financial indebtedness (excluding local facilities), have provided Norske Skog with a recapitalization proposal. The company has shared its views on the proposal with the SSN AHC and the NSF holders and the SSN AHC and the NSF holders have shared their proposal with other creditor groups. The company has also received a short-form term sheet from the SSN AHC and the NSF holders relating to the provision of (i) a short term Euro 15 million secured facility guaranteed by certain members of the group and (ii) a backstop guarantee facility to help support the operating business of the company's subsidiaries. The company is in the process of considering these financing proposals. To allow for the conclusion of the ongoing stakeholder discussions to be reflected, the company has also today announced that the deadline for the current exchange offers and consent solicitations has been further extended from 31 July 2017 to 11 August 2017. Click Read More below for additional details.
Let's be honest, although many attempt to do so, there is no way to find a positive spin to the data in this industry-wide report showing magazine ads down another 16%. As an industry, we have seen negative numbers every year for a decade. Were you expecting a change? Newsstand sales of magazines have plummeted at least 50%, and periodicals run through the USPS have dropped 55% and diminish each year. Meanwhile ad sales, as seen in this report, continue on their long decline seeking a yet undiscovered plateau. We have seen associations use sleight of hand to try to change the subject and use illusory metrics, like “likes” instead of real data that show magazine growth. Has that helped? We have seen pundits declare that all is well and that print will live and be prosperous forever. Neither of those are helpful as a solution nor a recognition of the situation at hand. Click Read More below for more of the story.