American paper companies have imposed a 20% duty on coated paper from the Port Hawkesbury Mill in Nova Scotia, while Irving Paper in New Brunswick and Catalyst Paper of Britsh Columbia have had a 18% tariff imposed. North Pacific Papers of Washington State has also filed for countervailing duties on Canadian uncoated groundwood paper from Canada. The Hawkesbury mill won on appeal in its first round with the NAFTA panel. The U.S. has until mid-summer to appeal that decision, while other cases are being appealed by both the Canadian Federal and Provincial governments. During a recent rally in Phoenix Arizona, U.S. President Donald Trump said the U.S. will “probably” terminate NAFTA because he doesn’t think a deal can be made. His comments come about a week after re-negotiation talks began. The U.S. has also formally demanded that the Chapter 19 dispute resolution panels favoured by Canada be scrapped. In the past, the majority of its decisions have been won by Canada. Ottawa has promised to walk away from the talks before it accepts a NAFTA without these panels. The first round of NAFTA talks held recently failed to bridge the differences between Canada, the USA and Mexico, and left little signs of any real compromises. Next month, Mexico will host the second round of talks from September 1-5. Talks will then move to Canada later in September and return to the United States in October.
We are inviting PRINT 17 show attendees to check out our FREE materials and help themselves. Several of our member companies will be displaying these popular informational and promotional materials about paper and print from Two Sides: •Going Paperless May Not be Greener – 11 x 17 color infographic (printed by Ricoh USA) •Busting Myths About How Paper is Made – 11 x 17 color infographic (paper donated by Domtar and printed by Konica Minolta Business Solutions) •Myths and Facts brochure (paper and printing by Appleton Coated) •Two Sides printed newsletter – The Page – with the latest progress updates and accomplishments (printed by Konica Minolta Business Solutions) •Two Sides Membership Brochure – Learn more about Two Sides and our member benefits (printed by Canon Solutions America) Click Read More below for additional detail.
The Stevens Group, Elmhurst, Ill., a full-service print management and marketing support company, has acquired Crystal Lake, Ill.-based CL Graphics., a printing and cross-media marketing firm. CL Graphics’ operations will be integrated into The Stevens Group’s Elmhurst facility. Graphic Arts Advisors, LLC, a strategic financial advisory and consulting firm devoted exclusively to all sectors of the graphic communications industry, represented CL Graphics in the acquisition. Graphic Arts Advisors Director Mitch Evans served as lead advisor on this sale. CL Graphics’ commitment to providing the highest level of customer service aligns well with our culture, making this acquisition a very positive move for our company,” says John Brahm, president of The Stevens Group. “Our combined expertise in marketing and production will help further enrich the solutions we provide to clients. What’s more, CL Graphics’ extensive experience in direct mail will help broaden our already comprehensive mailing services.” Click Read More below for additional detail.
Wall Street Journal's Hong Kong edition will no longer be distributed after October 7 as the paper is moving to a digital only strategy. This is part of the paper's continued effort to scale back its print operations in Europe and Asia as it shifts savings and focus to digital. Luckily for the Wall Street Journal, digital has been on the rise with 1.27 million daily digital subscribers which is more than print subscribers. Click Read More below for more of the story.
L Brands, Inc. reported net sales of $842.1 million for the four weeks ended Aug. 26, 2017, a decrease of 1 percent, compared to net sales of $852.9 million for the four weeks ended Aug. 27, 2016. Comparable sales decreased 4 percent for the four weeks ended Aug. 26, 2017. For August, the exit of the swim and apparel categories had a negative impact of about 2 percentage points and 3 percentage points to total company and Victoria’s Secret comparable sales, respectively. The company reported net sales of $6.034 billion for the 30 weeks ended Aug. 26, 2017, a decrease of 5 percent compared to net sales of $6.356 billion for the 30 weeks ended Aug. 27, 2016. Comparable sales decreased 8 percent for the 30 weeks ended Aug. 26, 2017. Click Read More below for additional detail.
Bertelsmann had a successful first half of 2017. The international media, services, and education company reports revenue growth, operating EBITDA at a high level, and a first-half operating Group result of over €500 million for the first time in its history. The Group achieved further progress in implementing its growth strategy, and among other major initiatives signed an agreement to increase its stake in the world's largest trade publishing group, Penguin Random House, to a strategic majority of 75 percent. Bertelsmann increased its Group revenues by 2.1 percent to €8.1 billion in the reporting period (H1 2016: €8.0 billion). Organic growth improved to 1.4 percent (H1 2016: 1.3 percent). RTL Group's digital TV businesses, the digital activities of Gruner + Jahr and BMG, Arvato SCM Solutions and the Bertelsmann Education Group in particular developed positively. Growth businesses grew by 9 percent to €2.7 billion (H1 2016: €2.3 billion). For the first time, they accounted for more than 30 percent of total sales. Click Read More below for additional detail.
Gasoline hit a new a two-year high as investors assess the impact of refinery outages and restarts as Harvey moves away from the Houston area. With the storm sliding farther inland over Southwestern Louisiana, Motiva Enterprises LLC’s Port Arthur refinery, the country’s biggest, began a controlled shutdown. The disruption helped send motor fuel up 5.7 percent in New York, while oil slipped. An Energy Information Administration report showed U.S. crude stockpiles slid for a ninth week, though production -- often given more weight by traders -- continued to rise last week. Click Read More below for more of the story.
Costco Wholesale Corporation reported net sales of $9.8 billion for the month of August, the four weeks ended August 27, 2017, an increase of 10.0 percent from $8.9 billion during the similar period last year. For the first 52 weeks of its 53-week fiscal year ended August 27, 2017, the Company reported net sales of $123.5 billion, an increase of 6.4 percent from $116.1 billion during the 52-week 2016 fiscal year.
Greif is pleased to report that our steel, plastic, fibre drum and chemical filling services that were impacted by Hurricane Harvey are returning to operation. Operation may be limited depending on access to transportation, raw material, or other external services like export shipping Ports. We will keep the safety of our people as the top priority as we resume operations and meet our customers’ needs.
International Paper has pledged $1 million to support disaster relief efforts in the communities impacted by Hurricane Harvey and Tropical Storm Harvey. The International Paper Foundation will contribute $750,000 to the American Red Cross chapters in Texas and Louisiana, and will contribute $250,000 to Feeding America. International Paper has established strategic partnerships with these organizations to provide disaster relief in communities where IP employees live and work. Click Read More below for additional detail.
The Federal Communications Commission's proposed rollback of the net neutrality rules may not hold up in court, according to the Silicon Valley trade group Internet Association. "The record provides no basis for the Commission to reverse course from its 2015 Order," the Internet Association writes in comments filed Wednesday with the Federal Communications Commission. The organization -- which includes companies like Amazon, Google, eBay and Facebook as members -- adds that Supreme Court precedent requires the FCC to show it has good reasons to change its position. "The 2015 Order is working -- both the cloud economy and ISPs are doing well (and claims that investment by ISPs has been hurt by the 2015 Order are unsupported by evidence), and consumers are reaping the benefits of the virtuous circle of innovation across the internet economy," the organization writes. Click Read More below for additional detail.
Kohl's is reaching out to its associates as well as the general public impacted by Hurricane Harvey. The retailer said it will provide an estimated $1 million in financial support to its employees who have been significantly impacted by the storm. Kohl’s will continue to monitor the impact of the flooding throughout the region to evaluate the need for additional assistance. In addition, Kohl's announced a $500,000 cash donation toward hurricane relief and recovery efforts in Texas and across the Gulf Coast. Kohl’s is providing the donation to the American Red Cross, which is delivering emergency supplies and services in the impacted areas. Click Read More below for additional detail.
Right now all delivery has been suspended within the 3-Digit ZIP Codes of 770, 772, 773, 774, 775, 776, 777 and 778. As of this morning the USPS is planning to resume operations for Marketing / Standard Mail on Monday, September 11, 2017. All other Texas regions outside of the Greater Houston area are operational, but have been experiencing delays. As the events unfold and more information is available we will keep you updated as quickly as possible. Should you have any immediate questions please reach out to a member of your service team.
Scholastic, Hachette, Simon & Schuster and Penguin Random House are among the New York trade publishers responding to the humanitarian crisis in flood-ravaged Southeast Texas. Driven by a company-wide response, Scholastic made a $25,000 donation to the Red Cross to aid relief efforts in the area. Scholastic is also accepting requests for help from damaged schools via its Possible Fund, an initiative that donates books to schools in underserved communities (as well as those in areas affected by natural disasters). Additionally, the company's Scholastic Book Clubs is offering to help restock classroom libraries in areas harmed by floodwaters. Click Read More below for more of the story.
Transcontinental Inc.'s Media Sector, TC Media, announced the sale of its weekly Le Peuple Lotbinière, and its related web property, to MELIORMÉDIA Inc. Three employees are transferred to the purchaser. The Corporation would like to thank them for their professionalism and their dedication to the organization. Furthermore, TC Transcontinental also concluded a multi-year agreement for the printing and distribution of this publication. This transaction is part of the process for the sale of TC Media's local and regional newspapers in Quebec and Ontario, which was made public in a press release issued by Transcontinental Inc. on April 18.
Transcontinental Inc.'s Media Sector, TC Media, announced the sale of its two Drummondville-based publications, L'Express – Wednesday Edition and L'Express Week-end, as well as their related web properties, to a Canadian corporation of which Mr. Dave Beaunoyer is part of. Mr. Beaunoyer is former general manager at TC Media for this region. The 19 employees of these newspapers are transferred to the acquirer, along with 4 employees from TC Media's production team. The Corporation would like to thank them for their professionalism and wishes them continued success. Furthermore, TC Transcontinental also concluded a multi-year agreement for the printing and distribution of these publications. This transaction is part of the process for the sale of TC Media's local and regional newspapers in Quebec and Ontario, which was made public in a press release issued by Transcontinental Inc. on April 18.
UPS announced more than a $1 million pledge, through The UPS Foundation in support of recovery efforts in Texas and Louisiana following the devastation caused by Hurricane Harvey. The pledge is a combination of cash grants, in-kind transportation movements and technical expertise to provide urgent relief, as well as support for long-term needs ranging from rebuilding to personal and financial recovery assistance. “In this time of enormous need, it is critical to establish and support extensive networks of public-private partnerships to get aid to those who need it, as quickly as possible,” said Eduardo Martinez, president of The UPS Foundation and chief diversity and inclusion officer. “At the same time, setting aside funding and other resources for long-term recovery efforts is also important, and we are laying that groundwork as well.” Click Read More below for additional detail.
Walmart and the Walmart Foundation have committed up to $20 million in support of relief efforts in response to the severe weather impacting the Gulf region. This includes $10 million focused on support of American Red Cross shelters and $2 million in support of the Hurricane Harvey Relief Fund at the Greater Houston Community Foundation, which was announced today at a press briefing with Houston Mayor Sylvester Turner. “Our Texas family of customers and associates are experiencing devastating impact from this storm,” said Doug McMillon, President and CEO of Walmart. “We are on the ground to help our friends and neighbors in the Gulf region, and we’ll continue to be in the tough days, weeks, and months ahead.” Click Read More below for additional detail.
Amazon Books opened its 11th store today, and its second in New York City. Located on 34th Street, the store sits sitting directly across the street from the Empire State Building. The new outlet has about 3,700 titles available for sale that range from bestsellers to "hidden gems" and are selected in part from reviews from Amazon customers. Books in 34th St. store, Amazon said, have received a total of 1.8 million 5-star reviews. There is also ample room given to Amazon's various digital devices including Kindle Echo, and Fire Tablet lines. Click Read More below for more of the story.
For the thirteen weeks ended July 29, 2017, the Company reported net income of $22.7 million, or $0.18 per diluted share, compared to net income of $23.0 million, or $0.17 per diluted share, for the thirteen weeks ended July 30, 2016. Results for the second quarter of 2016 include the impact of restructuring and strategic charges of $10.3 million after-tax, or $0.08 per diluted share. For the twenty-six weeks ended July 29, 2017, the Company reported net income of $56.3 million, or $0.44 per diluted share, compared to net income of $54.1 million, or $0.41 per diluted share, for the twenty-six weeks ended July 30, 2016. Results for the twenty-six weeks ended July 30, 2016 include the impact of restructuring and strategic charges of $12.5 million after-tax, or $0.09 per diluted share. For the second quarter, net sales were $578.6 million compared to $635.7 million in last year's second quarter. This decrease of 9.0% primarily reflects a comparable sales decline of 8.4%, driven by lower average dollar sale and a decline in transaction count. For the second quarter, gross margin was $209.1 million, or 36.1% of net sales, compared to $240.8 million, or 37.9% of net sales, in last year's second quarter. Click Read More below for additional detail.
Gasoline rose to a two-year high as Tropical Storm Harvey hit the U.S. Gulf coast again after already knocking out a fifth of the nation’s refining capacity. Motiva Enterprises LLC’s Port Arthur refinery, the country’s biggest, was said to be shutting because of severe flooding. The disruption helped send motor fuel as much as 3.3 percent higher in New York, while the resulting reduction in demand from plants hit by the storm kept crude near a five-week low. After drenching Texas, Harvey regained strength over the waters of the Gulf of Mexico and crashed ashore again Wednesday in southwest Louisiana, according to the National Hurricane Center. “The market focus seems to be on the quantity of refinery capacity shut-ins and potential to hit oil demand,” said Giovanni Staunovo, an analyst at UBS Group AG in Zurich. Click Read More below for additional detail.
They say that 60 is the new 50 and 40 is the new 30. I hesitate to write that 30 is the new 20, as I appreciate the intellectual maturity and emotional intelligence I gained during that 10-year window in early adulthood. With the September/October issue, our biggest issue in over a decade, as VERANDA celebrates its 30th anniversary, it’s safe to say that the magazine, too, has earned a certain level of circumspection and discernment, but with an unjaded, spirited vigor that helps us see the best the world has to offer. It’s our hope to bring gravitas and authority to the subject of living well, while still approaching the topic with childlike wonder and bridging the two viewpoints. There’s nothing worse than a blasé, I’ve-seen-it-all editor. An anniversary shouldn’t be about wallowing in the past. A healthy bit of reflection is good for anyone, but the occasion should be about taking stock and focusing on the future and new opportunities that await. This issue features a larger dynamic logo, Oprah’s private rose garden, as well as the very first person to appear on a VERANDA cover (and it’s actually three people: Atlanta homeowner Taylea Fowler and her two adorable twins). Fine jewelry coverage has been a hallmark of the magazine for 20 years, and we expanded it for this issue, featuring 17 pieces of the most beautiful pearl jewels in the marketplace. Click Read More below for more of the story.
Mondi has decided to postpone its €135 million investment in a new 90,000 tonne per annum machine glazed speciality kraft paper machine at its Steti mill in the Czech Republic. Commenting on the decision, Peter Oswald, Mondi CEO, said, “We have decided to postpone the machine glazed speciality kraft paper machine investment after a careful review of market conditions. While the proposed new machine remains an exciting investment opportunity, offering the lowest cost production of its sort in Europe, recently announced industry capacity expansions are expected to result in a market imbalance over the period in which the new machine was planned to come on line. There is no change to our €335 million investment in modernising the mill including rebuilding the fibre lines, de-bottlenecking the existing packaging paper machines and a new recovery boiler, which is progressing as planned.”
There’s high anticipation for this upcoming fall season at Foremost Graphics in Michigan and it’s not due to college football. That’s when the 100-employee firm will move its fast-growing packaging division from an old multi-floor furniture factory to a newly remodeled state of the art 80,000 sq ft facility outside of Grand Rapids and install its first-ever KBA Rapida 106 41-inch sheetfed press. Along with the press, new ERP software and additional material handling equipment will provide improved workflows and shared resources with its existing corporate headquarters in the city of Walker, MI. “We’re at an exciting crossroads in our packaging business. We’ve invested millions of dollars in new equipment, including the KBA press, as well as in a new facility,” says Paul Kelly, president of Foremost Graphics. “Our goal is to facilitate the strong expansion in the packaging segment of our business, where we see equal growth opportunities in market segments including health and beauty, automotive and food processing for our national client base.” Click Read More below for additional detail.
For many commercial printers, the cost savings derived from inkjet technology was offset by the expense of pre-or-post coating the paper or having to purchase specialty inkjet coated paper. With the introduction of the Xerox Trivor® 2400 High Fusion Inkjet Press, all that has changed. Xerox’s new High Fusion Ink produces high-quality results direct to offset coated paper on the Trivor 2400, removing the need for intermediate coating processes, primers or added hardware. The Trivor 2400 High Fusion Inkjet Press allows print providers to expand their inkjet media range to produce cost-effective, higher-value personalized jobs such as direct mail, catalogs, magazines and color books. High Fusion Ink is specially formulated to optimize printing and drying on offset coated media including matte, silk and glass stock from 60 to 250 gsm, up to 250 feet per minute. “The speed, great color range and ability to print on regular offset coated stock with no pre- or post-treatment makes the Trivor 2400 High Fusion Inkjet Press a breakthrough innovation in production inkjet,” said David Zwang, principal consultant, Zwang & Co. While High Fusion Ink is optimized for commodity offset coated papers, it also runs on a range of uncoated media, providing cost-effective redundancy for a versatile set of print jobs. Click Read More below for additional detail.
EarthColor is excited to announce its assets are anticipated to be acquired by Mittera Group before the end of September. EarthColor is headquartered in Parsippany, New Jersey and operates plants in New York, New Jersey, Florida and Texas. EarthColor traces its roots to 1982 and has in excess of 450 employees. Mittera Group is a multi-platform print, marketing and media company with more than 700 professionals that provide quality printing, direct mail, design, digital and analytic solutions for clients throughout the U.S. It has been actively engaged in growing through acquisitions and organic growth for the past decade. Click Read More below for additional detail.
Chromatic Technologies Inc. (CTI) announced the introduction of Tamper Alert, a new irreversible, heat-activated ink technology to identify tamper evidence in labels and packaging for chemicals, pharmaceuticals, food, electronics and other products targeted for theft and counterfeiting. CTI’s newest technology is a breakthrough in tamper-evidence providing customers with a tight activation window where the alert transitions from colorless to full color within a range of 10° C. Traditional irreversible technologies require a transition window between 30° to 50° C. (86° F. to 122° F.). This results in weak color activation and detection at lower temperatures. The new Tamper Alert technology is available in target activation temperatures of 50° C. (122° F.), 60° C. (140° F.), 70° C. (158° F.) and 80° C. (176° F.). Click Read More below for additional detail.
Addressing the market demands for increased productivity and extended media capabilities, Canon U.S.A., Inc., a leader in digital imaging solutions, unveils the Océ VarioPrint 6000 TITAN Series of sheetfed monochrome production presses at PRINT 17. Set to be available in the Americas in 2018, the TITAN Series builds off the success of the Océ VarioPrint 6000 Series featuring a range of technology innovations designed to help further enhance productivity, quality and media versatility, while maintaining best-in-class environmental performance.1 The technology has been developed to help print service providers who operate in the commercial, publishing and transactional segments to produce high-quality black and white prints at increased speeds while using a wider selection of media weights and formats. The TITAN Series presses build on the well-established Océ VarioPrint 6000 platform, which set a new bar for monochrome digital production when it was first launched a decade ago. Its unique Gemini Instant Duplex Technology is still unmatched to this day. Click Read More below for additional detail.
Best Buy Co., Inc. announced results for the second quarter ended July 29, 2017 (“Q2 FY18”), as compared to the second quarter ended July 30, 2016 (“Q2 FY17”). The company reported GAAP diluted earnings per share from continuing operations of $0.67, an increase of 20% from $0.56 in Q2 FY17. Non-GAAP diluted earnings per share from continuing operations were $0.69, an increase of 21% from $0.57 in Q2 FY17. “We are pleased today to report strong top and bottom line growth for the second quarter of fiscal 2018,” said Hubert Joly, Best Buy chairman and CEO. “Our higher-than-expected comparable sales of 5.4% were driven by stronger consumer demand for technology products and by the strong execution of our strategy. Against a backdrop of continued healthy consumer confidence, we believe broad-based product innovation is resonating with consumers and driving higher spend. And, with our effective merchandising and marketing activities, combined with our expert advice and service available online, in-store and in-home – we are garnering an increasing share of those dollars.” Click Read More below for additional detail.
Total European shipments of graphic papers in June 2017 were UP 0.5% vs. June 2016 and are down 0.8% year-to-date. Total European shipments of newsprint in June 2017 were down 1.7% vs. June 2016 and are down 3.8% year-to-date. Total European shipments of sc-magazine in June 2017 were down 2.2% vs. June 2016 and are UP 2.2% year-to-date. Total European shipments of coated mechanical reels in June 2017 were UP 1.7% vs. June 2016 and are down 2.0% year-to-date. Total European shipments of coated mechanical (improved and others) in June 2017 were UP 0.6% vs. June 2016 and are UP 1.4% year-to-date. Total European shipments of coated woodfree in June 2017 were UP 5.7% vs. June 2016 and are UP 1.4% year-to-date. Total European shipments of uncoated woodfree in June 2017 were down 1.1% vs. June 2016 and are down 0.8% year-to-date.
Amazon.com, Inc. announced plans to open its second Oregon fulfillment center in Salem, which will create more than 1,000 full-time positions. The company recently announced an upcoming fulfillment center in Troutdale and it currently operates a sortation center in Hillsboro and Prime Now hub in Portland. Additionally, there are more than 40,000 authors, sellers, and developers in Oregon growing their businesses and reaching new customers via Amazon products and services. “We are excited to continue growing in Oregon, creating 1,000 full-time jobs in Salem,” said Sanjay Shah, Amazon’s Vice President of North America Customer Fulfillment. “The support of Governor Brown, local leaders, and many others have been instrumental in our decision to locate the new fulfillment center in the state capital, and we are grateful for the support we’ve received to bring new jobs and investment to Oregon.” Click Read More below for additional detail.
Motor fuel prices fell 0.7 percent in New York, while crude futures slipped from the lowest closing level in five weeks. Valero Energy Corp. and Citgo Petroleum Corp. were said to be preparing to restart their refineries in Corpus Christi after Harvey moved through over the weekend. The storm, which made landfall on Friday, is poised to regain strength before crashing ashore again near the Texas-Louisiana border on Wednesday. “It is a question of the market reassessing the risk to refineries while also concluding we are past the peak season in terms of demand,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen. “We are seasonally heading towards a lower demand period which means that any signs of things beginning to normalize could have quite a negative impact on prices.” Click Read More below for additional detail.
For the second quarter ended 30 June 2017, Lecta had revenue of €360.7 million versus €357.6 million in the second quarter ended 30 June 2016, an increase of €3.1 million or +1%. This increase was attributable to: • Lower sales of CWF, Specialties and Purchased Products of €-4.6 million or -1%, from €341.6 million in 2Q2016 to €337.0 million in 2Q2017, resulting from lower sales volumes of 500 metric tons or -0%, 377,000 metric tons in 2Q2017 vs 377,500 metric tons in 2Q2016, and a decrease in average net sales price of -11€/t or -1%, 894€/t in 2Q2017 vs 905€/t in 2Q2016; and • Higher sales of energy of €+7.7 million or +48%, from €16.0 million in 2Q2016 to €23.7 million in 2Q2017, resulting from higher sales volumes of 10,000 MWh or +4%, 271,500 MWh in 2Q2017 vs 261,500 MWh in 2Q2016, and an increase in average sales price of +26€/MWh or +42%, 87€/MWh in 2Q2017 vs 61€/MWh in 2Q2016. The costs of raw materials and consumables used increased by €7.0 million, or +4%, from €182.5 million in 2Q2016 to €189.5 million in 2Q2017, and as a percentage of revenue they increased from 51.0% in 2Q2016 to 52.5% in 2Q2017. The absolute increase was mainly attributable to higher purchased volumes, and an increase in the average consumption prices of pulp of +38€/t and latex from 2Q2016 to 2Q2017. Click Read More below for additional detail.
When Domino Media Group CEO Nathan Coyle was talking to Domino about its open CEO position last year, he wanted to ensure he could produce growth if he joined. He flipped through Domino magazine for inspiration, noticing people on nearly every page. Despite Domino’s reputation as a shelter title, talking home design, Coyle realized, “it’s also about the cool person that lives there.” He saw that as the opportunity. Readers flock to the magazine in order to find tips and tricks for their home décor, but they also see the person living in the chic home. Coyle believed they want to know more about that person, whether it’s where she goes for brunch, where she works out or where she shops. It was an epiphany: Domino would “have license to extend into adjacent categories.” Coyle had his plan and he took the job. Click Read More below for more of the story.
The final piece of the new Mount Fuji World Heritage Center in Japan is soon to be revealed. And the best part? The stunning structure is made from locally sourced wood from PEFC/SGEC-certified forests! Built with local Japanese cypress wood, the striking latticework structure resembles Mount Fuji upside-down. It is also the first construction project in Japan to achieve PEFC project certification. “We pioneered PEFC project certification to ensure that fantastic constructions such as this are able to take advantage of PEFC certification and demonstrate their sustainable credentials,” said Ben Gunneberg, CEO of PEFC International. PEFC project certification provides independent verification that the building was constructed with certified timber, without the need for all sub-contractors to be certified. Click Read More below for additional detail.
The U.S. Postal Service (USPS) is planning to raise virtually all rates a bit in January, apparently including a one-cent hike of the Forever Stamp, to 50 cents. And it’s also hoping it will soon get the power to implement larger rate hikes. The USPS will raise rates for both market-dominant mail (such as First Class and Marketing Mail) and competitive mail (such as Priority Mail) on Jan. 21, 2018, postal officials told mailing-industry representatives this week. A postal official indicated that rates would rise from 1% to 3% for most market-dominant products, according to attendees at a meeting of the Mailers Technical Advisory Committee. Click Read More below for more of the story.
NORPAC announced that they will raise the price of their Norbrite grades by $35.00 per short ton ($1.75/cwt) effective with shipments/invoices on or after October 1, 2017. Specific grades affected by this change in pricing include: Norbrite 65 ;Norbrite 70; Norbrite 75; Norbrite Plus; Norbrite Offset; Norbrite 92 Max; Norbrite Book Blue White; Norbrite Book Cream; Norbrite Hybrid
Please be advised that, effective with shipments October 1, 2017, the US transaction pricing from Catalyst Paper will increase $1.75/cwt ($35/short ton) for the following products: Electrabrite; Electrabrite Book; Electrastar. This increase applies to all basis weights, finishes and brightness.
Gasoline surged to the highest in two years and oil declined as flooding from Tropical Storm Harvey inundated refining centers along the Texas coast, shutting more than 10 percent of U.S. fuel-making capacity. Motor fuel prices rose as much as 6.8 percent, while New York oil futures slipped 0.9 percent. Harvey, the strongest storm to hit the U.S. since 2004, made landfall as a hurricane Friday, flooding cities and shutting plants able to process some 2.26 million barrels of oil a day. Pipelines were closed, potentially stranding crude in West Texas and interrupting gasoline supply. Click Read More below for more of the story.
Gap Inc. today announced the opening of its new Gap flagship store on West Nanjing Road in Shanghai, its biggest flagship to date in the Greater China region. Featuring Gap’s full apparel collections and latest store design elements, the new flagship store underscores the importance of the China market for the company and its commitment to better serving Chinese customers. Additionally, the company will move its China retail headquarters team into the office space being created above the store in 2018. Located at No. 863 West Nanjing Road in Shanghai’s busiest commercial district, the 1908 square-meter and two-story flagship store is Gap’s largest in Greater China. The store showcases Gap’s contemporary store concept developed jointly by the company’s local and global store design teams and takes design inspiration both from the brand’s early heritage as well as new modern elements. Click Read More below for more of the story.
Premier Minnesota trade finisher, Embossing Plus, has announced the launch of the first JETvarnish 3D Evolution (Evo) print enhancement services program in the United States. The MGI JETvarnish Evolution is the world’s first commercially available digital print enhancement press for application sizes up to 29x47”/75x120 cm (with substrate weights up to 800 GSM). Konica Minolta, MGI’s Global Partner, sold and deployed the equipment with a total solutions support package and an EngageIT Xmedia business development campaign to help create market awareness of the firm’s new business line. Embossing Plus was founded in 1987 by Leon Spencer and has since grown to provide national print campaign support programs that include the entire spectrum of post-press services. Click Read More below for additional detail.
Domtar is proud to inaugurate its second generating unit with a power output of 18 MW at its Windsor (Quebec) Mill. The start-up of its second generating unit, built for $36 million, will improve the energy efficiency of the mill produced from renewable resources while reducing production costs. "With the addition of its second generating unit, the Windsor Mill will become one of the major producers of renewable energy in the Eastern Townships. Our total production capacity will reach nearly 50 MW and will allow us to feed the equivalent of the annual energy consumption of 12,800 single-family dwellings. By using forest biomass as a fuel to produce green energy, Domtar demonstrates its commitment to innovation and sustainable development," declared Éric Ashby, General Manager of Domtar's Windsor Mill.
Please be advised we plan to increase the price of our 30# (48.8 gsm.) standard newsprint by $30.00 per metric ton effective October 1, 2017. Prices for other newsprint basis weights will increase proportionally as per past practices.
National Average Price for Regular – Current: $2.352; Month Ago: $2.281; Year Ago: $2.198. National Average Price for Diesel – Current: $2.528; Month Ago: $2.454; Year Ago: $2.348.
American Dollar to Canadian Dollar = 0.799513; American Dollar to Chinese Yuan = 0.150202; American Dollar to Euro = 1.181985; American Dollar to Japanese Yen = 0.009118; American Dollar to Mexican Peso = 0.056621.
Front-month crude futures rose 0.7 percent in New York, paring Thursday’s 2 percent decline. Gasoline gained as much as 4.6 percent. While some oil and gas production has shut in the Gulf, the storm is bearing down on an area in the U.S. state of Texas that is home to much of the nation’s refining capacity. If Harvey, currently a Category 2, makes the forecast landfall as a Category 3, it will be the strongest storm to hit since Wilma in 2005. U.S. gasoline prices for September rose to $1.7120 a gallon, the highest intraday price for a front-month contract since April. Ultra-low-sulfur diesel climbed as much as 2 percent to $1.6530 a gallon. Click Read More below for more of the story.
HP Inc. and Deloitte Consulting LLP announced a first-of-its-kind alliance to help accelerate the digital transformation of the global manufacturing industry. The two companies will collaborate on the implementation of HP’s 3D printing systems in large-scale manufacturing environments, applying their leading digital operations experience to help enterprises accelerate product design and production, create more flexible manufacturing and supply chains, and enhance efficiency across the manufacturing lifecycle. This can help increase innovation, accelerate time-to-market, reduce costs and waste, and help large enterprises compete more effectively in today’s dynamic global economy. The alliance will combine HP’s award-winning Jet Fusion 3D Printing solutions and tools, industry-leading partner ecosystem, and heritage of driving digital industrial transformations together with Deloitte’s global client reach and deep manufacturing relationships, extensive digital operations experience, and proven success in supply chain transformation for some of the world’s largest companies. Click Read More below for additional detail.
Sears Holdings Corp.'s second-quarter earnings beat the Street as it benefitted from cost-saving initiatives. But it continued to struggle with weak traffic and declining sales, and added 28 more locations to its long list of store closings. Sears reported that its second-quarter loss narrowed to $251 million, or $2.34 per share, in the quarter ended July 29, helped by cost savings resulting from the streamlining of operations and store closings. Losses, adjusted for one-time gains and costs, came to $1.16 per share. Analysts had expected a loss of $2.48 per share. Revenue fell 23% to a better-than-expected $4.37 billion in the period. Same-store sales were down 11.5%, worse than the expected 7.1% decline. Click Read More below for more of the story.
Research from Student Monitor® and the National Association of College Stores (NACS) found that student spending on textbooks and course materials declined for the second year in a row. The Student Watch survey from NACS reported a $23 decline in spending from $602 in in the 2015-2016 academic year to $579 in 2016-2017. Student Monitor reported a $64 decline from $607 in 2015-2016 academic year to $543 in 2016-2017. Spending on course materials has declined by around $100 over the past ten years, aroundt 15%, when the average spend was between $672 and $701. The transition to less expensive digital materials, increasing use of rental options for both print and digital materials, and a competitive retail market are among the factors that have led to the spending decline.Both studies found the average price per unit (new, used, print, digital, or rented) was $66 during the 2016 – 2017 academic year. The cost of new print textbooks declined by around 13% from $91 in the 2015 – 2016 academic year to $80 in the 2016-2017 academic year, according to Student Monitor. Click Read More below for additional detail.
For the Second Quarter • Net sales increased 20.6% to $1,289.9 million from $1,069.2 million in the second quarter of fiscal 2016; • Comparable sales (sales for stores open at least 14 months and e-commerce sales) increased 11.7% compared to an increase of 14.4% in the second quarter of fiscal 2016. The 11.7% comparable sales increase was driven by 5.5% transaction growth and 6.2% growth in average ticket; • Retail comparable sales increased 8.3%, including salon comparable sales growth of 7.7%; • Salon sales increased 15.3% to $68.0 million from $59.0 million in the second quarter of fiscal 2016; • E-commerce sales grew 72.3% to $96.3 million from $55.9 million in the second quarter of fiscal 2016, representing 340 basis points of the total company comparable sales increase of 11.7%; • Gross profit as a percentage of net sales increased 40 basis points to 36.4% from 36.0% in the second quarter of fiscal 2016, due to improvements in merchandise margins and leverage in fixed store costs; Click Read More below for additional detail.
Please be advised that effective with shipments on or after October 1, 2017, Resolute’s White Paper grades will increase by US$35/short ton. Products impacted by this price increase include, but are not limited to, the following: Ecopaque Offset, Ecopaque Laser, and Equal (Offset & Book); Hybrid (Smooth, Vellum & Envelope); Alternative (Opaque, Offset & Offset+); ResoluteSelect 75; ResoluteSelect 70, 65; ResoluteBook 85, 75, 70, 65, 60 & ResoluteBook 70 Cream; Alternative Book, Alternative Book Cream; ResoluteText 80, ResoluteText Cream; ResoluteSert 65 The increase will be applicable to all basis weights and finishes, and all up charges apply.
Please be advised that, effective with shipments on or after October 1, 2017, Resolute Forest Products will raise its newsprint price by US$30/metric tonne (for 48.8 gsm). Prices for other basis weights will be adjusted accordingly. Please note that this price increase does not apply to Ponderay Newsprint Company.
Effective with deliveries on or after October 1, 2017, UPM is increasing the transaction price of all Supercalendared and Coated Groundwood grades. The transaction price of Supercalendered (SC) grades will increase $2.00/cwt, including all basis weights and finishes. Grades impacted include: Eco; Impresse; Impresse Plus; Max; Cat; Smart The transaction price of Coated Groundwood grades will increase $1.00/cwt, including all basis weights and finishes. Grades impacted include: Cote; Ultra; Valor; Star. Please note that the Coated Groundwood portion of this price increase is being announced and implemented in addition to our previous price increase letter dated June 2, 2017, implemented on deliveries July 1 and later.
Second Quarter highlights: •Total revenues decreased 2% to $560.9 million. Comparable company sales decreased 5% following a decrease of 8% in the second quarter last year. •J.Crew sales decreased 7% to $443.1 million. J.Crew comparable sales decreased 8% following a decrease of 9% in the second quarter last year. •Madewell sales increased 19% to $93.1 million. Madewell comparable sales increased 11% following an increase of 3% in the second quarter last year. •Gross margin increased to 38.6% from 35.7% in the second quarter last year. Click Read More below for additional detail.
Fourth Quarter Highlights: Total revenues increased 2.2 percent to $239.5 million, compared with $234.4 million in the prior year period. On a comparable basis1, revenues increased 2.9 percent. EPS was $0.12 per share compared with a loss of $0.17 per share in the prior year period. Adjusted EPS1 was a loss of $0.11 per share compared with a loss of $0.14 per share in the prior year period. EBITDA1, excluding stock-based compensation, was a loss of $2.2 million, compared with a loss of $6.0 million in the prior year period. Adjusted EBITDA1 was a loss of $1.7 million compared with a loss of $2.9 million in the prior year period. Click Read More below for additional detail.
Abercrombie & Fitch Co. reported a GAAP net loss per diluted share of $0.23 for the second quarter ended July 29, 2017, compared to a GAAP net loss per diluted share of $0.19 for the second quarter last year. Excluding certain items, the company reported an adjusted non-GAAP net loss per diluted share of $0.16 for the quarter, compared to an adjusted non-GAAP net loss per diluted share of $0.25 last year. Year-over-year changes in foreign currency exchange rates did not have a meaningful impact on net loss per diluted share for the quarter. Click Read More below for additional detail.
According to the July 2017 Printing-Writing Monthly report from the American Forest & Paper Association, total printing-writing paper shipments decreased five percent in July compared to July 2016. This is the eleventh consecutive year-over-year decrease following a modest fractional increase in August 2016. All four printing-writing grade categories posted year-over-year shipment declines in July. Total printing-writing paper inventory levels increased two percent from June 2017. •July uncoated free sheet (UFS) paper shipments decreased year-over-year at the lowest rate since the last increase in August 2016. Imports of UFS decreased by 22% year-over-year in June while exports of UFS papers increased 41% year-over-year in June. The 68,200 tons exported in June was the highest level of UFS exports since March 2015. •Shipments of uncoated mechanical (UM) papers decreased year-over-year in June for the 13th consecutive month. Imports of UM increased 8% year-over-year in June while exports of UM decreased 14% year-over-year in June. •July shipments of coated free sheet (CFS) papers declined for the second consecutive month following the only year-over-year increase in 2017. Shipments of coated one-side free sheet papers decreased three percent year-over-year in July but remain flat for the year-to-date. U.S. imports of CFS papers increased 8% year-over-year in June while exports of CFS papers decreased 4% year-over-year in June. •Coated mechanical (CM) paper shipments declined year-over-year in July, the second consecutive decline. Imports of CM decreased in June, down 5% compared to June 2016 while exports of CM increased 12% in June.
Kappa Media, LLC, and its controlling Member Nicholas Karabots, have announced the acquisition of the remaining partnership interest of Vanguard Graphics, LLC, from Mr. Steve Rossi. As of August 31, 2017, Kappa and one of its affiliates will have full ownership of Vanguard. Kappa purchased its original ownership stake in the company in April 2016. While the acquisition will not have an immediate impact on customers, vendors, or employees, the change in ownership illustrates the commitment of Kappa to continue to invest the capital necessary to position Vanguard for additional future growth. Click Read More below for additional detail.
An extension to the highly successful monthly movie magazine, Empire Classics will offer film fans a specially curated celebration of the greatest iconic films and filmmakers. The first issue in the series is devoted to the Greatest Ever Action Movies Ever, focusing on the 54 films that have defined the genre. The experts at Empire deliberated, digested and finally divided the films into seven chapters entitled Comic Heroes, Adrenalin Rush, Tales of Adventure, At War, Making History, Spy Games and Wild West. Click Read More below for more of the story.
“The most recent EIA stock update gave something for both bulls and bears to cheer about,” said Stephen Brennock, an analyst at PVM Oil Associates Ltd. in London. “As has become the norm, the fly in the ointment for bulls is the march higher in U.S. crude production.” U.S. gasoline inventories dropped by 1.22 million barrels to 229.9 million last week, the EIA reported Wednesday. Crude output increased by 26,000 barrels a day to 9.53 million, expanding for a second week. Click Read More below for additional detail.
The University of Maine at Fort Kent is pleased to welcome Neil Thompson as the Irving Woodlands, LLC. Professor of Forestry. A University of Maine System graduate, Thompson is no stranger to the diverse woodlands of Maine. “Mr. Thompson comes to UMFK with extensive research and teaching experience that will greatly benefit our students,” said UMFK President, Dr. John Short. “Our campus is very excited about the contributions we know he will make in the classroom and laboratories.” “All of us at Irving Woodlands are very excited to welcome Neil Thompson to the University of Maine at Fort Kent,” said Jason Limongelli, Vice President of Woodlands Division. “We look forward to working with Neil to advance the benefits of outcome-based forestry in Northern Maine and to address important issues like climate change, biodiversity and the spruce budworm.”
The foundation stone of Metsä Wood’s new birch plywood mill was laid in Pärnu, Estonia. The greetings in the ceremony were delivered by the Minister of Public Administration of Estonia Mr. Jaak Aab and the President and CEO of Metsä Group Mr. Kari Jordan. “This is an important investment for Metsä Wood and the whole Metsä Group. It is done to better meet the globally growing plywood demand and to further improve Metsä Wood’s industrial efficiency. The new mill is a good example of Finnish-Estonian cooperation. Estonia has favourable business climate and it offers good logistical connections to our main markets.” said CEO of Metsä Group Kari Jordan in today’s ceremony. The annual birch plywood production capacity at the Pärnu mill will be 50 000 cubic metres and the total investment is approximately 55 million euros. Click Read More below for additional detail.
Neenah’s paper-based gift card offering is now significantly strengthened by the recent acquisition of a state of the art lamination asset from Hazen Paper. Hazen Paper is a world-class paper converter whose expertise and products enjoy wide acceptance in this growing market segment. As part of this asset acquisition, more than 25 experienced employees will join the Neenah team to ensure a smooth transition. Brands such as Amazon, Facebook and Ben & Jerry’s have chosen paper gift cards over plastic. The list of brands making the switch from plastic to paper gift cards grows longer every day. Paper cards eliminate the need for fossil fuel-based production, and keep toxic plastic gift cards out of the landfill. Click Read More below for additional detail.
Pursuant to the recommendation from the election and remuneration committee of Norske Skog announced earlier today, several changes in board of directors were proposed to the extraordinary general meeting to be held tomorrow, 24 August 2017. On this basis, the planned public launch of a revised recapitalization transaction will be postponed in order to provide the new board with an opportunity to review the recapitalization transaction and allow for discussions with relevant stakeholders prior to a public launch. In the interim, the work with finalizing the documentation for the committed EUR 16 million liquidity facility continues. As previously announced, a significant majority of senior secured bond holders (SSN) (EUR 290 mill, due in 2019) and the holders of the Norwegian Securitisation Facility (NSF) (EUR 100 mill, due in 2020) have committed to provide a EUR 16 million liquidity facility to support the operating business of Norske Skog. The work with finalizing the documentation for this liquidity facility is being progressed in an expedite manner. Click Read More below for additional detail.
One year ago, a devastating earthquake hit central Italy. One year later, PEFC-certified wood is helping people to rebuild their homes, and their lives. Throughout the region, locally grown, PEFC-certified wood has helped to get children back into school and bring communities together. It provides assurances to the people in the region that they will be better prepared in case a similar event happens in the future, using wood as a raw material that can be sourced in harmony with nature. “Using wood has many excellent advantages,” said Gianluca Endrizzi from Rubner Group, the PEFC-certified company responsible for the construction of two stunning new nurseries in Guastalla (Emilia Romagna) and Norcia (Umbria). Click Read More below for more of the story.
Atlantic Packaging Products, Ltd., of Scarborough, Ontario, Canada, is pleased to announce the formation of a strategic partnership with York Container Company (YCC) of York, Pennsylvania. Details and terms of this partnership are not being disclosed. Stephen Tansey, President and representative of YCC's shareholders, commented "York Container is committed to growth and providing innovative solutions to our customers. We have enjoyed robust growth over the past several years, but we believe that in order to take our plans to the next level we need to partner with a like-minded company to expand geographically and extend our capabilities to a broader customer base. After an evaluation of our various options, we are thrilled to join forces with Atlantic. This is the best possible outcome for all of our stakeholders, in particular, our customers and employees." Irving Granovsky, Chairman of Atlantic Packaging, describes the rationale for this transaction: "Atlantic is always looking for progressive and well-managed companies to team up with. We feel York Container is a wonderful addition to our partnership portfolio." Click Read More below for additional detail.
Evergreen Packaging announced the launch of the Fall 2017 Made By Milk™ Carton Construction Contest. This year's contest theme – Sports – invites students to build milk carton creations inspired by games and recreation, from archery to ziplining, amateur to Olympic-level. Classroom teams can win up to $5,000 by building novel creations from empty milk or juice cartons repurposed from their school lunches. The deadline for submissions is November 15, 2017. "Now in its sixth year, the Made By Milk™ Contest gives students of all ages the opportunity to express their creativity while building design skills, teamwork and awareness of environmental issues including sustainability," said Katie Simmons, marketing manager at Evergreen Packaging. "We can't wait to see how students across the country will translate this year's Sports theme into imaginative carton creations." Click Read More below for additional detail.
The Sustainable Forestry Initiative Inc. (SFI) announced today that Structurlam is the first Canadian manufacturer of cross-laminated timber (CLT) to be certified to the SFI 2015-2019 Chain-of-Custody Standard. Structurlam blends the expertise of wood science with the ingenuity of European fabrication to produce mass timber products including CLT, the next-generation of engineered wood products. Structurlam has manufactured CLT for six years and supplied the product to over 350 projects in North America. Extensively tested, the product has vast applications for construction. “We are excited that Structurlam is the first CLT manufacturer in Canada to be certified to the SFI Chain of Custody Standard. A few months ago I had the opportunity to visit Structurlam’s site and was impressed with their commitment to sustainability and the innovation driving their product development. Many of Structurlam’s suppliers manage forestlands certified to SFI so it is great to know that Structurlam will continue to source and build with SFI certified materials,” said Kathy Abusow, President and CEO of SFI Inc. Click Read More below for more of the story.
Transcontinental Inc.'s Media Sector, TC Media, announced today the sale of six of its publications, namely Le Journal Saint-François, Le Soleil de Châteauguay, Brossard Éclair, Le Courrier du Sud, L'information d'Affaires Rive-Sud and Le Reflet (Delson), as well as their related web properties, to Gravité Média, a group that includes Ms. Julie Voyer, former general manager at TC Media for the Montérégie region. The 55 employees of these publications are transferred to the acquirer. In addition, 9 employees from TC Media's Production and Finance teams will also pursue their careers with Gravité Média. The Corporation would like to thank the employees for their work and wishes them the best for the future. Furthermore, TC Transcontinental also concluded a multi-year agreement for the printing and distribution of these six publications. This transaction is part of the process for the sale of TC Media's local and regional newspapers in Quebec and Ontario, which was made public in a press release issued by Transcontinental Inc. on April 18.
As the debate about the carbon benefits of generating electricity in Europe from wood pellets manufactured in the southern United States continues, a new Forest2Market report shows that growth in demand for forest products (e.g., lumber, paper, packaging and wood pellets) has led to greater forest productivity and a significant increase in the amount of forest inventory available for storing carbon. The report, Historical Perspective on the Relationship between Demand and Forest Productivity in the US South, analyzes US Forest Service data and other scientific research to understand the relationship between changes in demand and supply from 1953 to 2015. Click Read More below for additional detail.
Staples, Inc. announced the results for its second quarter ended July 29, 2017. Total company sales for the second quarter of 2017 were $3.9 billion, a decrease of three percent compared to the second quarter of 2016. On a GAAP basis, the company reported net income from continuing operations of $63 million, or $0.10 per diluted share, for the second quarter of 2017. Second quarter 2017 results from continuing operations include pre-tax charges of $10 million primarily related to the proposed acquisition of the company by funds managed by Sycamore Partners. Total company comparable sales for the second quarter of 2017 declined one percent compared to the second quarter of 2016. Excluding the impact of certain charges taken during the second quarter of 2017, the company reported non-GAAP net income from continuing operations of $76 million, or $0.12 per diluted share. Click Read More below for additional detail.
Please join the ACMA Board on Thursday, November 2nd, for a crucial catalog-focused lobbying day, as we'll spend a full day on Capitol Hill meeting with key members of Congress in all of our districts. • Date: Thursday, November 2, 2017, 9:00 - 5:30 pm E.T. • Cost: No fee - you just cover your own airfare, food and lodging costs • Purpose: To advance catalogers' primary goals in postal & remote sales tax • Attendance: Led by ACMA staff, our Board and our government relations firm, this event is open to all ACMA members and non-members. • RSVP: If you think you might be interested in joining us, please send us a quick email indicating so. You won't be "contractually bound" to it, but it will help us get a better idea as to how many industry members we should prepare for. Why We're Doing This - So far in 2017, Congress has made true progress in moving legislation that would reform the Postal Service and fix the growing problem of states taxing beyond their borders. Postal: The Postal Service Reform Act of 2017 (H.R. 756) received strong bipartisan support in the House Oversight and Government Reform Committee earlier this year. Now, the legislation needs approval of the House Ways and Means Committee, then the full House. Members of Congress need to hear from ACMA members so they know to support the legislation when it comes up for a vote. Click Read More below for additional detail.
Effective with all orders shipping on or after October 1, 2017, Evergreen Packaging is raising the transaction price on all coated groundwood products by $1.00/cwt. This increase applies to all products, including, but not limited to, the following brands: TruSpec4; TruSpec4.5 Low Glare; TruSpec4.5; TruSpec5. All standard upcharges will continue to apply.
Oliver Printing & Packaging Company, a leading provider of print, display and packaging services, announced the acquisition of Pohlig Packaging, a packaging manufacturer based in Richmond, Virginia. Pohlig Packaging is a manufacturer of folding cartons, micro-fluted corrugated boxes and setup boxes, serving the food and grocery, consumer products, automotive aftermarket and healthcare markets. Click Read More below for additional detail.
Neenah Paper has characterized its new synthetic paper as “a significant addition” to its portfolio of labels for harsh environments. The Neenah Performance Labels portfolio of high performing, highly engineered substrates is designed for applications in demanding conditions. Its Kimdura line of label stock has been used for more than 30 years for challenging applications – including labels and tags for drum chemicals, hazard communications, health care, industrial, logistical and outdoor. Kimdura DualTech is available at 3.5pt (98g/sqm), adds an option for both inkjet and laser printing platforms, and is compliant with BS 5609 Part 2 and 3. “Our customers expect Neenah to develop products to fit their evolving needs. Kimdura DualTech demonstrates best-in-class performance and chemical resistance with laser and inkjet printers, even when exposed to a wide range of industrial and household solvents,” said Srinivas Nomula, Senior Director of Marketing at Neenah Performance Labels & Specialties. “Similar products in the marketplace showed little or no resistance to industrial chemicals when printed using laser printers. Kimdura DualTech outperformed other labels, with even barcodes remaining legible during harsh testing environments.” Click Read More below for additional detail.
Futures lost 0.3 percent in New York after rebounding Tuesday from the biggest drop in a week. Motor fuel stockpiles gained by 1.4 million barrels last week, while crude inventories fell by 3.6 million barrels, the American Petroleum Institute was said to report. Energy Information Administration data Wednesday is forecast to show both gasoline and crude stockpiles decreased. U.S. crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest U.S. oil-storage hub, dropped by 462,000 barrels last week, said the API, according to people familiar with the data. Nationwide crude inventories probably decreased by 3.48 million barrels last week, while gasoline supplies slid 1.25 million, according to analysts surveyed by Bloomberg. Click Read More below for additional detail.
The Village Voice is ending its weekly print product, which has been distributed for free in the New York City area since 1996. Back then, “Craigslist was in its infancy, Google and Facebook weren’t yet glimmers in the eyes of their founders, and alternative weeklies—and newspapers everywhere—were still packed with classified advertising,” Village Voice owner Peter Barbey stated. “Clearly, a lot has changed. That business has moved online—and so has the Voice’s audience, which expects us to do what we do ... every day, across a range of media, from words and pictures to podcasts, video, and even other forms of print publishing.” The alt-weekly paper, founded in 1955 and known for its coverage of New York City’s culture, social and political issues, as well as nightlife, will live online. Click Read More below for more of the story.
Mondi will show how its packaging solutions are addressing industry and consumer trends at the 2017 PACK EXPO trade fair in Las Vegas. “Industrial customers and consumers today are sophisticated and demanding,” says Georg Kasperkovitz, CEO Mondi Consumer Packaging. “Whether for their own customers or themselves as end-users, brand managers prefer packaging that is convenient and that helps with the buying decision. Producers of consumer goods, food, animal feed and seed are asking the packaging industry for solutions and materials that are easy to use, increase brand recognition, differentiate at the point of sale, and build trust with consumers.” At PACK EXPO, Mondi will show how it is using its capabilities to meet customer needs in the North American market and addressing these trends with its wide range of packaging solutions, including flexible packaging, bags and pouches, barrier coatings, technical films, and industrial bags. With a focus on food and beverage packaging, Mondi’s booth will feature a special product discovery area allowing visitors to discover how Mondi’s products touch millions of lives, every day.
Norske Skog's gross operating earnings (EBITDA) in the second quarter 2017 were NOK 190 million, an increase from 158 million in the first quarter 2017. The European units contributed less to gross operating earnings than in the first quarter ; whereas, the Australasian units gross operating earnings improved. Operating earnings in the second quarter was NOK -52 million compared to positive operating earnings of NOK 2 million in the first quarter of 2017. Net loss in the second quarter was NOK 546 million compared with a net loss of NOK 274 million in the first quarter 2017. Cash flow from operating activities before net financial items seasonally increased from NOK 175 million in the first quarter 2017 to NOK 226 million in the second quarter 2017. Click Read More below for additional detail.
SG360°, an industry-leading print and direct marketing solutions provider, announced the acquisition of Data Service Solutions (DSS), a leading integrated print finishing company. Terms of the transaction were not disclosed. The combination will create greater scale and a more diversified, robust offering that serves the complex needs of SG360° customers. The deal will enhance and support the growth of SG360°'s fulfillment business, and its location in the Bolingbrook corridor supports the firm's distribution strategy. Click Read More below for additional detail.
Georgia-Pacific LLC announced today that it has reached an agreement to sell its pine chemicals business to Ingevity for $315 million, including certain pine chemicals-related assets at the Crossett, Arkansas plant. The acquisition is subject to regulatory clearance and Ingevity and Georgia-Pacific expect to close on the transaction in late 2017. Separately, Ingevity will enter into several contract manufacturing arrangements for oilfield and mining products currently produced at other Georgia-Pacific facilities. The parties will also separately enter into a 20-year, market-based crude tall oil (CTO) supply contract. Click Read More below for additional detail.
packagePRINTING has announced that Inland, a leader in package technology headquartered in La Crosse, WI, has been recognized twice in their 31st Annual Excellence Awards. Inland received two Second Place Awards. Amongst impressive competition, Inland was awarded Second Place in the Label – Flexo (Offset) category with their AriZona Green Tea shrink sleeve label. Inland also received Second Place recognition for their New Belgium Single Foeder Felix pressure sensitive label in the Wine and Beer Labels – Flexo (Line and Text) category. Click Read More below for more of the story.
A survey published this month by Booknet Canada found that Canadians prefer reading books in print. It also found that more are opting to do their reading on smartphones, or listen to audiobooks. The results of the survey, which come from 750 respondents, found that 90% of respondents that had read a book in the last year had read a print book. However, 22% of respondents ranked reading last among a string of leisure activities that include browsing the Internet (33%), spending time with family (32%), watching TV (31%) and going to the movies (23%). BookNet Canada, a nonprofit book industry research organization, reported that 82% of respondents said they had read a book in the last year, about the same percentage as its 2016 survey found. The number of respondents who had read at least one book during the past year has been declining since 2014 though, when 88% of respondents reported reading at least one book. Click Read More below for more of the story.
Sun Chemical has acquired Joules Angstrom U.V. Printing Inks Corp., a leading manufacturer of UV printing inks for converters in the commercial, packaging and specialty markets. By combining the complementary portfolio of products from the Pataskala, Ohio-based company with Sun Chemical’s full range of global resources, customers will benefit from the synergies between both companies. “This partnership will give both Sun Chemical and Joules Angstrom numerous opportunities to provide customers with expanded product lines and services,” said Charles Murray, President of North American Inks, Sun Chemical. “Joules Angstrom is a company built on technical excellence and customer satisfaction, and we plan to work together to provide customers with more exciting and innovative UV printing ink solutions.” Click Read More below for more of the story.
Packaging Corporation of America announced that it has entered into a definitive agreement to acquire substantially all of the assets of Sacramento Container Corporation, and 100% of the membership interests of Northern Sheets, LLC and Central California Sheets, LLC in a cash-free, debt-free transaction for a cash purchase price of $265 million. The Company has also announced that it will discontinue production of uncoated freesheet (UFS) and coated one-side (C1S) grades at its Wallula, Washington mill in the second quarter of 2018 to begin the conversion of its 200,000 ton-per-year No. 3 paper machine to a 400,000 ton-per-year high-performance 100% virgin kraft linerboard machine. The acquisition transaction is structured as a purchase of assets resulting in a full step-up of the assets to fair market value. Under the terms of the agreement, PCA will acquire full-line corrugated products and sheet feeder operations in McClellan, California and Kingsburg, California. Click Read More below for additional detail.
Amcor’s CEO Mr Ron Delia said: “Amcor’s strong full-year results reflect the progress we have made on our strategic investments and the benefits of our broad mix of geographic exposures. Underlying PBIT and EPS grew 9 and 10 percent respectively on sales growth of 4 percent for the year, and cash flow was at the high end of our expectations. “Balanced earnings growth from a variety of sources again demonstrated the resilience of Amcor’s business and management teams. Earnings were up strongly in both the Flexibles and Rigid Plastics segments, driven by organic growth and acquisitions. Across developed markets, earnings grew at rates which exceeded overall market growth. In emerging markets, we delivered increased earnings in the face of difficult conditions in several countries. Click Read More below for additional detail.
Futures in New York were little changed after slumping 2.4 percent Monday. Inventories probably dropped by about 3.5 million barrels last week, according to a Bloomberg survey before an Energy Information Administration report on Wednesday. Libya has stopped loadings from its biggest oil field, while Venezuela’s exports also declined in the first half of August. “Right now, we are seeing a draw on the U.S. inventory stocks,” said Michael Poulsen, an analyst at Global Risk Management Ltd. As “the driving season is coming to an end, the question is if the latest draws in U.S. inventories will continue.” U.S. crude stockpiles have declined by almost 43 million barrels since the end of June, according to the Energy Information Administration. While inventories have eased, oil production has increased to the highest since July 2015. Output from major shale fields is also forecast to climb to a record next month. Click Read More below for additional detail.
In late 2010, I was thinking quite a bit about book use in research libraries. The conventional wisdom was that “no one uses print books anymore” in libraries like mine, and indeed annual data provided by the Association of Research Libraries (ARL) showed a pretty clear decline in book circulations: between 1991 and 2008 (the most recent data available at that time), the number of initial circulations in ARL libraries had fallen by over a quarter. And when I ventured into the book stacks in my own library I usually found them spookily deserted. But I was haunted by a passing comment a colleague had made to me a few years earlier, noting that the conclusions we draw from library usage data can easily be confounded by changes in the library’s user population. It occurred to me that if we really want to understand what’s happening with regard to library patrons and printed books, we need to take into account the changing nature of our patron base. And the simplest and most consistent change in that population is growth over time: university enrollment tends to grow from year to year. Click Read More below for more of the story.
With a culture of innovation, Dominion Packaging of Richmond, VA selected the latest technology in flexo printing to produce premium folding carton packaging for the tobacco, food and beverage markets when deciding its print direction. Its formula for success lies in the combination of state-of-the-art machinery and a market-focused strategy to provide exceptional product appeal. A key driver – to offer quality packaging at a modest cost – led the company to develop new technology using a flexo press operation capable of replacing jobs that were previously printed on both gravure and offset presses. The advancement is based on the successful installation of a TRESU Flexo Innovator press (FI1400-10, 55-inch, 10-units). The new Innovator is a flexographic in-line press equipped with rotec® High Speed Sleeves and rotec® Atlas Adapters from Flint Group. This particular combination of sleeves and adapters provides optimal control of plate bounce by absorbing press vibrations and providing added stability, thus permitting the press to run at faster speeds while still allowing for a solid kiss impression. Click Read More below for more of the story.
Once again this year we decided to weigh the September issues. Without access to ad page data, book size becomes an increasingly more important indicator than in years past. And this year, the indicator is not good. September was always the one time when these publications truly believed big is beautiful, but they are starting to become as petite as those who grace their covers. To conduct this research we went out and procured the magazines the old fashioned way—on the newsstand. Here’s the rather disturbing thing: they weren’t all that easy to find. We visited a few different newsstands, asked the clerks about them, and were met with a blank stares. It wasn’t until we visited a major book retailer were we able to purchase all nine titles. Perhaps that alone is a telling enough indicator that the September issues don’t carry the weight they once did. Nevertheless, we still walked out of the store with nine magazines that weighed in at nearly 15 pounds (plus we got a really cool commemorative tote for buying Vogue). Still, that’s a loss of nearly five cumulative pounds versus last year. Nobody will congratulate these titles for their dramatic weight losses. Click Read More below for more of the story.
Copy Express of Lexington recently purchased the five-color RMGT 940ST-5+CC+LED-UV with coater offset press from Graphco. This is the first RMGT 940 press to be installed in the United States and the first RMGT 940 with coater to be delivered worldwide. Copy Express has seen tremendous growth in recent years, with president and owner Mark Hicks noting that he has made strategic acquisitions over the last several years to facilitate that expansion. “That’s how I grow as quickly as I want,” he notes. The combined company — which has consolidated under the Copy Express brand — is now the largest commercial printer in the area, counting most of the ad agencies, major corporations and universities among their growing client list. Click Read More below for additional detail.
Soyuz, based in Moscow, produces corrugated packaging for a range of sectors and has approximately 300 employees. Smurfit Kappa already has three plants in Saint Petersburg, Russia producing paper-based and Bag-in-Box® products for customers across Europe. This acquisition enables Smurfit Kappa to further strengthen its position in Russia and broaden its offering to its multinational and local customers. The acquisition also establishes Smurfit Kappa as the leading international corrugated packaging supplier in Russia. Click Read More below for additional detail.
Kohl’s announced details of the company’s strategic plans to invest in its store base and enhance the capabilities of its e-commerce fulfillment network. During the third quarter, Kohl’s will open four small format stores and its fifth e-commerce fulfillment center. The company continues to make progress on its initiatives to optimize and rightsize select Kohl’s stores across the country. “Our stores remain at the core of our omnichannel strategy and we will continue to invest in them by opening smaller formats, rightsizing and optimizing our selling space and working to ensure that shopping in our stores is an engaging and inspiring experience for our customers,” said Kevin Mansell, Kohl’s chairman, chief executive officer and president. “We have set a goal to be the best-in-class omnichannel retailer and opening our fifth e-commerce distribution center will support the delivery of online orders faster and more efficiently to customers nationwide.” Click Read More below for additional detail.
Please be advised that, effective with shipments on or after October 1, 2017, Resolute Forest Products will raise its Coated and SC paper prices by amounts specified below (see primary grades listed). The products impacted by the price increase include, but are not limited to, the following: ResoluteBrite 76 Gloss; ResoluteBrite 76 Satin; ResoluteGloss; ResoluteBlonde Gloss = + $1.00/cwt US and ResoluteSCA+; ResoluteSCA; ResoluteSCB; ResoluteSNC = + $2.00/cwt US. The increases will be applicable to all basis weights and finishes, and all up charges apply.
Futures were little changed in New York after rising 3.7 percent the previous two sessions. Libya declared force majeure, a legal clause that allows the suspension of deliveries, on supplies from the Sharara field after it was blocked on Sunday, National Oil Corp. Chairman Mustafa Sanalla said. Drillers targeting crude trimmed the rig count by five to 763, the second decline this month, according to data Friday from Baker Hughes Inc. “The fragility of Libya’s production increase” was highlighted by the problem at Sharara, said Giovanni Staunovo, an analyst at UBS Group AG in Zurich. “Considering that the political situation and security issues remain unresolved, production gains can be quickly reversed.” Click Read More below for more of the story.
The UK and the USA may be two countries “divided by a common language” but as far as media is concerned, the figures speak with the same clarity in every single tongue. As of today, Ink titles are now in front of more than three-fifths of all airline passengers crossing the Atlantic from the UK at every inkhour of every day, of every month, in every year. Ok, full disclosure: we can't offer you Ethiopian Air’s 3 flights a week from Addis Ababa (via Dublin) to LA, but we can provide American Airlines’ 175 weekly departures, as well as United’s 161 and Virgin Atlantic’s 160. That’s not to mention Norwegian’s new and expanding 787 fleet departing from London, Barcelona, Belfast, Oakland, Austin and many, many more locations. And let’s not forget Thomas Cook’s unassuming - yet strong – market position. They quietly ferry 41 flights a week to the land of the free and the home of the brave. Click Read More below for more of the story.
Production at Metsä Wood's new Kerto® LVL line in Lohja has started. The construction project has progressed according to plan and in schedule. The investment is part of Metsä Wood's EUR 100 million investment program for Kerto® LVL and plywood, and it supports the company’s industrial efficiency strategy. At the Lohja mill, three Kerto LVL production lines were operating until the end of last year. With the investment, one of the old lines has been dismantled and another old line is being run down by the end of 2017. The new Kerto LVL line increases the mill’s production capacity by 20,000 m3 per year. The mill has a total capacity of 120,000 m3. The new line will reach full capacity within one year.
Norske Skog has extended the deadline for the current exchange offers and consent solicitations to 23 August 2017. The existing short-term standstill agreements has also been extended to 23 August 2017, to allow for additional time to conclude the ongoing stakeholder discussions and finalisation of applicable documentation. The group has received a commitment letter for a EUR 16 million liquidity facility from the majority holders of the SSN (EUR 290m, 2019) bond and the NSF (EUR 100m, 2020) loan. Norske Skog plans to launch a revised recapitalization proposal with support from the majority holders of the SSN bond and the NSF loan early next week. The liquidity facility will allow Norske Skog to meet its operational cash flow needs. "We are very pleased that key stakeholders are supporting the business operations of the group through a committed liquidity facility. Our paper mills are highly competitive businesses with a prosperous future irrespective of the final solution to the group's capital structure." said Lars P.S. Sperre, President and CEO of Norske Skog. Click Read More below for additional detail.
Participate, partner, promote or pitch a solution: there are many ways you can get involved with the 2017 PEFC Stakeholder Dialogue: Making Certification SMART. And we are looking forward to hearing from you! Our two-day dialogue (16-17 November 2017; Helsinki, Finland) will explore and discover the benefits and potential for incorporating technology solutions into forest certification. Join us as we exchange experiences and challenge each other to re-imagine how forest certification should re-equip for the next decade. Click Read More below for additional detail.
As the world around us becomes more digitized, it's not surprising that the U.S. Postal Service (USPS) has followed suit. In a recent webinar, "Informed Delivery: Connecting Mail to a Digital Experience," sponsored by Satori Software, Tom Glassman, Director of Data Services and Postal Affairs, Wilen Direct; and Bob Schimek, Senior Director, Postal Affairs, Satori Software, discussed the USPS Informed Delivery program and its benefits, usage and adoption in a digital environment. For those who don't know much about Informed Delivery, it's a program through the USPS that gives mail recipients the ability to view their mail electronically before it hits the mailbox. Schimek explained that there are two sides to Informed Delivery: the end consumer and the direct mail industry. The end consumer side provides access to mail recipients before the mail carrier shows up at their door via email and a mobile app. The industry side gives direct marketers and mailers some independence to decide what brand identifiers will be used alongside the scanned image of the mail. Some options include a representative color image or a "ride along" image, which is supplemental content to help identify the brand and can even include a call to action. Click Read More below for more of the story.
The Sustainable Forestry Initiative Inc. (SFI) welcomed two new officers and one new member to its Board of Directors: Mark Rodgers as Board Chair, Guy Gleysteen as Vice Chair, and Laura Downey as a new member in the social chamber. These new members will play a key role as SFI continues to enhance the sustainability of well-managed forests and the communities that depend on them across the U.S. and Canada. “Mark brings experience as a community leader and builder, Guy works as a senior executive overseeing global supply chains and Laura is known for her vision when it comes to youth environmental education. Their combined experience and skills will further SFI’s reputation and impact as a sustainability organization,” said Kathy Abusow, President and CEO of SFI Inc. SFI’s 18-member, multi-stakeholder board of directors comprises three chambers, representing environmental, economic and social interests equally. The Board’s diversity and independence allows it to play a meaningful role at the intersection of well-managed forests and thriving communities. Click Read More below for additional detail.
Rayonier Advanced Materials Inc. and Tembec Inc. announced that they received clearance from the Competition Bureau of Canada, without condition, of the previously announced proposed statutory arrangement under Section 192 of the Canada Business Corporations Act involving the acquisition by Rayonier Advanced Materials of all of the outstanding shares of Tembec. In addition to clearance by the Competition Bureau, the Transaction already has received antitrust clearance from the Anti-Monopoly Bureau of the Ministry of Commerce of the People’s Republic of China, Germany’s Federal Cartel Office, and the United States Department of Justice and the Federal Trade Commission. As such, Rayonier Advanced Materials and Tembec have now received all required antitrust clearances. The Transaction has also been approved by Tembec’s shareholders and by the Québec Superior Court. Subject to obtaining other necessary approvals, as well as the satisfaction or waiver of other conditions to the Transaction, it is expected that the Transaction will be completed in the fourth quarter of 2017.
Effective with shipments October 1, 2017 and after, Kruger will increase the transaction price of all coated grades by $1.00/cwt. This includes: Krukote Offset, Krukote HI Bulk, Krukote 76, Krukote 80, Krukote Recycled. The increase will apply to all basis weights. Also, as stated in their letter of June 7, 2017, to the degree that it is not already fully implemented, it is Kruger's intention to fully implement the July 1, 2017 increase of $2.00/cwt on all of the grades listed above and all basis weights to all customers.
LSC Communications, Inc. announced that it has completed its previously announced acquisition of CREEL Printing, a privately-owned offset and digital printing company based in Las Vegas, Nevada.
Gap Inc. reported results for the second quarter of fiscal year 2017. On a reported basis, Gap Inc.’s second quarter fiscal year 2017 diluted earnings per share were $0.68. On an adjusted basis, the company’s second quarter fiscal year 2017 diluted earnings per share were $0.58, excluding a $0.10 benefit from insurance proceeds related to the fire that occurred on the company’s Fishkill distribution center campus in fiscal year 2016 (the “Fishkill fire”). Net sales for the second quarter of fiscal year 2017 were $3.80 billion compared with $3.85 billion for the second quarter of fiscal year 2016. The translation of foreign currencies into U.S. dollars negatively impacted the company’s net sales for the second quarter of fiscal year 2017 by about $37 million. Click Read More below for additional detail.
Appleton Coated today said that it has filed a voluntary state Chapter 128 petition for receivership to allow the company’s operations to continue under the supervision of a court-appointed receiver named by the Outagamie County Circuit Court. Company officials said the petition and appointment of a receiver will allow the company to continue operations under the direction of the receiver, who will lead a process aimed at selling the company’s assets to a buyer who will continue operations. “Despite the best efforts of our employees and ownership group and the introduction of new products, this step is the best option at this point,” said Doug Osterberg, Appleton Coated’s president and chief executive officer. “While the company has made significant progress in diversifying its product offerings and entering new markets, the overall business climate is very challenging, and operating under a state court-appointed receiver is the best route to transition the business to sustained profitability.” He said the company’s bank has agreed to fund operations during the receivership and that the business will continue to operate during the transition. He added the company will be able to pay salary and wages and fund benefits for current employees. Click Read More below for additional detail.
Total Packaging Papers shipments were 230,900 tons, 4.7% higher than July 2016. Bag & Sack shipments were up 6.1% year-to-date, while Food Wrapping shipments were down 9.5% over the same period. The operating rate for July 2017 was 88.4%, in line with the year-to-date rate of 88.6%. Inventories were 173,100 tons, up slightly since June.
Containerboard production was 5.2% higher compared to July 2016. The month-over-month average daily production compared to June 2017 was 1.7% higher. The containerboard operating rate for July increased from 96.3% to 97.9%, which was 2.8 percentage points higher compared to July of last year. Year-to-date production of containerboard for export is up 6.3%.
National Average Price for Regular – Current: $2.341; Month Ago: $2.258; Year Ago: $2.135. National Average Price for Diesel – Current: $2.528; Month Ago: $2.443; Year Ago: $2.301.
American Dollar to Canadian Dollar = 0.790589; American Dollar to Chinese Yuan = 0.149829; American Dollar to Euro = 1.174149; American Dollar to Japanese Yen = 0.009169; American Dollar to Mexican Peso = 0.055936.
Futures were little changed in New York, down 3.2 percent for the week. U.S. production had the biggest weekly advance since June, according to Energy Information Administration data on Wednesday, offsetting the largest decline in stockpiles in almost a year. Oil processing in China fell in July, the biggest decline for that particular month in three years, figures from the National Bureau of Statistics showed Monday. “Prices were unimpressed by the reported significant drop in oil inventories,” said Norbert Ruecker, head of commodities research at Julius Baer Group Ltd. in Zurich. “Instead, the market’s focus was possibly on robust U.S. output growth or the fact that the driving season and seasonal demand strength are set to ebb over the coming weeks.” U.S. crude output rose by 79,000 barrels a day to 9.5 million a day last week, the highest since July 2015, the Energy Information Administration reported Wednesday. Stockpiles declined for a seventh week to 466.5 million barrels. Click Read More below for additional detail.
At drinktec 2017, Graphic Packaging International (GPI) will reveal a new packaging machinery system and state-of-the-art robotic integration capabilities for the beverage industry, along with other industry-leading machinery and carton solutions. For the first time, the company will demonstrate ReShape™, a revolutionary technology capable of creating virtually any pack configuration seamlessly with one piece of packaging equipment. With ReShape, beverage manufacturers can reinvent, reimagine, and ReShape their cartons to produce the shapes and configurations they need today, along with unique structures for the future. "ReShape opens up many options in beverage packaging," said Doug Hicks, Director of GPI's Packaging Machinery Division. "The system can both internally and externally nest primary containers to create a variety of shapes and sizes with the potential to use less fiber. Also, unique handle designs deliver added comfort and strength." Click Read More below for additional detail.
UPM Raflatac has reinforced its commitment to building a more sustainable world by joining the Sustainable Packaging Coalition® (SPC). The SPC is a membership-based collaborative led by an independent non-profit that believes in the power of industry to make packaging more sustainable. UPM Raflatac joins more than 200 member companies, government officials and academic institutions. UPM Raflatac will also sponsor The SPC's upcoming SPC Advance conference in Pittsburgh this October. Through strong member support, an informed and science-based approach, supply chain collaborations and continuous outreach, the SPC endeavors to build packaging systems that encourage economic prosperity and a sustainable flow of materials. Sustainability is one of the key drivers of UPM Raflatac's product development - the company's labels are sustainable by design. UPM Raflatac supports environmental responsibility throughout the entire label lifecycle, from raw material sourcing to end-of-life treatment like recycling. Click Read More below for additional detail.
Imagine a snowflake with textured details on a postcard, a book cover with a white horse on a dark stock with vivid hues or an advertisement with white text that pops on a vinyl window cling. These types of specialty enhancements are a reality with Xerox’s new White Dry Ink for the Xerox iGen® 5 Press’ fifth print station. “This is exciting news for iGen 5 customers,” said Jim Hamilton, group director, Keypoint Intelligence InfoTrends. “This announcement opens up a whole new range of applications. Designers will love the ability to use white on colored and transparent substrates to create promotional items like brochures, business cards, greeting cards and invitations, point-of-purchase signage, direct mail postcards and letters, and book covers. The opportunities also extend to packaging applications like folding cartons.” Click Read More below for additional detail.
The Home Depot® today announced the addition of solar installations at 50 stores as it continues to expand its alternative energy portfolio, essentially creating mini solar farms out of unused rooftops. The project will reduce electricity grid demand by an estimated 30 to 35 percent annually at each Home Depot store; the equivalent of powering 2,300 average U.S. homes for a year. The average store roof, at approximately 104,000 square feet, will accommodate 1,000 panels. The Home Depot is working with Current, powered by GE, on 20 solar installations at stores in New Jersey, as well as eight stores in Connecticut, Maryland and Washington, DC. An additional 22 stores in California and New York will receive solar, of which six will utilize Tesla Powerpacks to store energy and dispatch additional power as needed. Click Read More below for additional detail.
Consistent with our June 1, 2017 letter, prices for Supercalendered Web grades listed in that letter are increasing by $2.00/cwt USD/$2.70/cwt CAD. To the extent not already implemented, the pricing will apply to all new and existing orders with confirmed delivery dates of October 1, 2017 or later. Additionally, in reference to our July 27, 2017 letter for #4 Web grades, we are changing the implementation dates and amount of increase to read as follows: Effective with all new and existing orders with confirmed delivery dates of October 1, 2017 or later, Verso Corporation is increasing the transaction price of all #4 Web Grades by $1.00/cwt USD/$1.26/cwt CAD, including but not limited to: Liberty® web; Balance® web; New Era® Matte; New Era® ThinBulk. The increase applies to all basis weights, bulks, finishes and related private label grades.
Determined to stay competitive in the face of Canadian government-subsidized competition, the North Pacific Paper Company (NORPAC) announced the reorganization of its operations. In October 2017, NORPAC will reduce its production capacity by idling one of its three paper machines and expanding the remaining capacity to serve customers. "As we seek to level the playing field under U.S. trade laws to counteract the dumped and subsidized imports from Canada, NORPAC will become a nimbler, stronger supplier to our customers by reorganizing around our two remaining paper machines," said Craig Anneberg, CEO of NORPAC. "Our company is constantly working to improve both our products and operations to remain competitive despite unfair import pricing and Canadian government-subsidized competition." "To keep our company competitive and protect our employees, NORPAC will use all the tools at its disposal under the U.S. trade law to address and counteract the dumped and subsidized imports from Canada," said Anneberg. Click Read More below for additional detail.
Metsä Board, the leading European producer of premium fresh fibre paperboards and part of Metsä Group, is pleased to announce that its revolutionary new paperboard cup design, ‘Lidloc’, has been selected as a finalist in the prestigious 2017 PPI Awards. The Lidloc design was chosen for the Packaging Innovation category, clearly reflecting how it has broken new ground in paperboard cup design. The design has a patent pending and is based upon an extension to a standard cup structure that folds and locks into an integrated lid. This innovative design completely removes the need for a separate plastic lid and will re-invent how paperboard cups are produced, consumed and recycled. Click Read More below for additional detail.
The company reported net sales of $2.755 billion for the second quarter ended July 29, 2017, compared to sales of $2.890 billion for the second quarter ended July 30, 2016. The company reported a comparable sales decrease of 8 percent for the second quarter ended July 29, 2017. For the second quarter ended July 29, 2017, the exit of the swim and apparel categories had a negative impact of about 6 percentage points and 9 percentage points to total company and Victoria’s Secret comparable sales, respectively. The second quarter comparable sales decline of 8 percent was below the company’s expectations. Accordingly, the company’s guidance for the remainder of the year reflects a more conservative sales forecast than its previous guidance. The company updated its guidance for 2017 full-year earnings per share to $3.00 to $3.20 from $3.10 to $3.40 previously, and issued guidance for third quarter earnings per share between $0.25 and $0.30. Click Read More below for additional detail.
Total boxboard production increased 2.9 percent when compared to July 2016, and increased 6.5 percent from last month. Unbleached Kraft Boxboard production increased over the same month as last year and increased compared to last month. Total Solid Bleached Boxboard & Liner production increased when compared to July 2016, and increased compared to last month. The production of Recycled Boxboard decreased compared to July 2016, and decreased when compared to last month.
Futures were 0.4 percent lower in New York after falling 4.2 percent the previous three sessions. U.S. production had its biggest weekly gain since the end of June, climbing to the highest level since July 2015, according to Energy Information Administration data Wednesday. The increase offset the price impact of an 8.95-million-barrel decline in crude stockpiles, the biggest drop since September. U.S. crude output rose by 79,000 barrels a day last week to 9.5 million a day, the EIA reported. Crude stockpiles at Cushing, Oklahoma, the delivery point for WTI and the biggest U.S. oil-storage hub, expanded a second week to 57 million barrels. Gasoline inventories climbed by 22,000 barrels to 231 million. Click Read More below for additional detail.
One year into its five-year strategy to reduce energy consumption and greenhouse gas emissions, Crown Holdings, Inc. has already surpassed one of its stated goals. In 2016, the Company announced its plan to reduce energy consumption by 5% per billion standard units of production from 2015 levels by the end of 2020. As of December 31, 2016, Crown has reduced energy consumption by 5.3% per billion standard units. Absolute energy consumption has decreased by 1.3% while the Company increased production by over 4.2%. In addition, the Company is more than halfway towards its goal of reducing Scope 1 and Scope 2 greenhouse gas emissions by 10% per billion standard units of production from 2015 levels. As of December 31, 2016, Crown has reduced greenhouse gas emissions by 6.25% per billion standard units. Click Read More below for additional detail.
Operating profit for January–June 2017 was SEK 1 152 million (January–June 2016: SEK 1 063 million, excluding items affecting comparability). The improvement in earnings was due to higher wood product prices, better earnings from forests and the divestiture of the newsprint mill in Madrid. Compared with the first quarter, operating profit decreased by SEK 102 million to SEK 525 million as a result of a maintenance shutdown within paperboard and seasonally lower hydro power production. Profit after tax for January–June amounted to SEK 880 million (587), which corresponds to earnings per share of SEK 10.5 (7.0). Click Read More below for additional detail.
HP Inc. announced a historic deal with Shutterfly, the world’s leading online retailer and manufacturer of high-quality personalized products and services, adding a second phase of HP Indigo 12000 Digital Presses and naming HP as its preferred digital press provider for its core business. The announcement comes just a year after Shutterfly acquired a first phase of HP Indigo 12000 Digital Presses, making the combined order the largest deal by far for HP Indigo. Shutterfly will use its new fleet of digital presses to produce a range of high-quality, personalized products and gifts including photo books, calendars, custom stationery, cards and keepsakes. The 29-inch format HP Indigo 12000 Digital Press enables production of these products through offset matching digital color with true photo quality, high productivity, and wide versatility on an unmatched range of media including synthetic, metalized and canvas applications. The new HP Indigo presses will be installed in time to help Shutterfly manage the annual boom of photo-based gift giving for the holiday season. Click Read More below for additional detail.
The Group’s consolidated sales rose slightly from EUR 1,142.2 million to EUR 1,150.3 million. Both divisions contributed to this rise. At EUR 102.1 million, operating profit was EUR 8.7 million or 7.9 % below the value for the first half of the previous year (EUR 110.8 million). Thus, the Group's operating margin was at 8.9 %, following 9.7 % in the first six months of 2016. Financial income of EUR 1.3 million (1st half of 2016: EUR 1.6 million) was offset by financial expenses of EUR -2.9 million (1st half of 2016: EUR -3.2 million). Owing to the deconsolidation of the Tunisian packaging companies, a one-off expenditure of EUR 2.3 million was incurred due to the accumulated foreign currency translation, which is reported under “Other financial result – net”. Click Read More below for additional detail.
Total sales for the second quarter of 2017 decreased 2.7 percent to $311.0 million, while comparable store sales decreased 5.0 percent. Ecommerce sales were up 41 percent over last year's second quarter. For the first six months of 2017, total sales decreased 4.0 percent to $648.4 million, while comparable store sales decreased 6.4 percent. Gross profit for the second quarter of 2017 was $64.7 million or 20.8 percent of sales compared to $89.4 million or 28.0 percent of sales in 2016. Gross profit for the first six months of 2017 was $160.2 million or 24.7 percent of sales compared to $198.3 million or 29.4 percent of sales in 2016. The lower gross profit rate for both periods reflects much higher markdowns and to a lesser extent higher occupancy costs that negatively leverage on lower sales. Click Read More below for additional detail.
•Comparable store sales decreased 6.1% as compared with the prior year period. •Selling, general and administrative ("SG&A") expense decreased $20.7 million as compared with the second quarter of fiscal 2016. •Net loss in the current year second quarter was $33.2 million, or $1.64 per share, compared with net loss of $38.7 million, or $1.95 per share, in the second quarter of fiscal 2016. •Adjusted EBITDA totaled $9.1 million in the second quarter of fiscal 2017. Adjusted EBITDA in the second quarter of 2016 was $2.5 million. Click Read More below for additional detail.
•Total revenue was $123.4 billion, an increase of $2.5 billion, or 2.1%. Excluding currency3, total revenue was $124.4 billion, an increase of $3.5 billion, or 2.9%. •Walmart U.S. comp sales1 increased 1.8% with traffic growth of 1.3%, marking the twelfth consecutive quarter with positive comp sales. •E-commerce growth at Walmart U.S. remained strong, led by organic growth through Walmart.com. Net sales and GMV grew 60% and 67%, respectively, as customers continued to respond well to new initiatives and an expanded assortment of more than 67 million SKUs. •Second quarter EPS included a charge of $0.17 for loss on extinguishment of debt in connection with the company's recently completed debt tender offers. This discrete charge was partially offset by the gain from the sale of the Suburbia business in Mexico, which benefited EPS by $0.05. Click Read More below for additional detail.
Resolute Forest Products announces production cuts to their paper business in Calhoun. The company will close paper machines #3 & #5 at the Calhoun plant. That will cost 222 jobs to the operation on the Hiwassee River at the McMinn/Bradley line. The company says they are still committed to the remaining operations at the plant. 491 workers will remain. Resolute has recently expanded operations there, investing in a tissue machine and converting operation, and a continuous pulp digester. Both will remain in operation. Click Read More below for more of the story.
Sappi North America, a leading producer and supplier of diversified paper and packaging products, today announced the 12 Gold Award winners of its annual North American Printer of the Year contest. Regarded as the world's most respected accolade of excellence in printed communications, this award recognizes superior innovation and creativity in print across 11 categories for work produced on Sappi papers. The 2017 winners were chosen as the most outstanding print submissions from nearly 1,500 entries. Lithographix, Inc., a premier offset and grand format printer, is this year's 2017 Printer of the Year award winner. Based in Hawthorne, Calif., the printer was selected for the book “The 4th Phase Field Guide”, printed for Red Bull Media House, which highlights a beautiful collection of images shot during an epic four year, 16,000 mile journey across the picturesque North Pacific region. Printed on Sappi McCoy Silk paper, the book features legendary snowboarder Travis Rice, and was later adapted into an action movie. Click Read More below for additional detail.
Urban Outfitters, Inc., a leading lifestyle products and services company which operates a portfolio of global consumer brands comprised of Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands and the Food and Beverage division, today announced net income of $50 million and $62 million for the three and six months ended July 31, 2017, respectively. Earnings per diluted share were $0.44 and $0.54 for the three and six months ended July 31, 2017, respectively. Total Company net sales for the second quarter of fiscal 2018 were $873 million, a 2% decrease as compared to the same quarter last year. Comparable Retail segment net sales, which include the comparable direct-to-consumer channel, decreased 4.9%. Click Read More below for additional detail.
Pearson is announcing that it has completed the sale of Global Education (GEDU) to Puxin Education. The disposal, together with the sale of associated property assets, is expected to generate gross cash proceeds to Pearson in the region of $80m. GEDU is a leading provider of English language training and test preparation for Chinese students wishing to study abroad. In 2016 the business served 64,000 learners with revenue of £78m and an adjusted operating loss of £4m. In 2016 GEDU had approximately 1,900 FTE employees. Click Read More below for additional detail.
Target Corporation reported a second quarter 2017 comparable sales increase of 1.3 percent and GAAP earnings per share (EPS) from continuing operations of $1.22, an increase of 14.2 percent from second quarter 2016. Second quarter adjusted earnings per share from continuing operations (Adjusted EPS) were $1.23, an increase of 0.1 percent from second quarter 2016. The attached tables provide a reconciliation of non-GAAP to GAAP measures. All earnings per share figures refer to diluted EPS. Click Read More below for additional detail.
Futures rose 0.5 percent in New York after slipping a second session Tuesday. Inventories dropped by 9.2 million barrels last week, the American Petroleum Institute was said to report. If that is replicated in government data Wednesday, it would be the largest drop in almost a year. Output from Libya is rebounding as its biggest field boosts production and a port reopens. OPEC won’t clear the global glut any time soon since any increase in price continues to bolster rival production from U.S. shale, according to the International Energy Agency. Click Read More below for additional detail.
U.S. e-commerce continues to drive growth in the retail sector, as nonstore sales jumped 11.5% in July, the U.S. Commerce Department reported today. Total retail sales increased 4.3% year over year. In the first month of the third quarter, nonstore sales adjusted for seasonal variations totaled $52.74 billion, compared with $47.31 in July 2016. The 11.5% jump in July is a significant acceleration from June, during which nonstore sales increased 9.3% over the same month last year. Nonstore sales mainly take place online, but also include other sales that take place outside of stores, including mail and telephone orders, door-to-door sales and sales through vending machines. Click Read More below for more of the story.
The U.S. ad market expanded more than 5% during the second quarter, despite “mass market weakness,” and declines in some major national media, according to a quarterly update released early this morning by Pivotal Research Group analyst Brian Wieser. He notes that the market expansion continues to come primarily from digital media, as the national TV ad marketplace eroded 1% and other major media experienced “double digit declines.” Click Read More below for additional detail.
Metsä Group’s next-generation bioproduct mill in Äänekoski came into operation as planned on Tuesday, 15 August 2017 at 6:00 in the morning. Pulp deliveries from the new mill to customers will begin in early September 2017. The construction project was carried out as planned, in accordance with its schedule and its EUR 1.2 billion budget. Before the bioproduct mill started up, the old pulp mill in Äänekoski was shut down and its dismantling is currently in progress. The bioproduct mill will achieve its nominal capacity approximately a year after start-up. The mill will produce 1.3 million tonnes of pulp per year, along with other bioproducts such as tall oil and turpentine. New bioproducts that already complement the product concept include product gas from bark, sulphuric acid from the mill’s odorous gases, and biogas and biofuel pellets from sludge. Click Read More below for more of the story.
Corporate Press, an employee-owned commercial printer based in Lanham, Md., has entered into an agreement to acquire certain assets of McArdle Printing, of Upper Marlboro, Md., from its current owner, Bloomberg BNA. The sale includes McArdle's existing account base and some of the equipment. “We expect the transaction to close on September 30, after which Corporate Press and its subsidiary, ColorCraft, will consolidate their current 72,000-sq.-ft. Maryland and 42,000-sq.-ft. Virginia operations into McArdle’s existing 131,000-sq.-ft. facility," explains Michael Marcian, president of Corporate Press. Together, Corporate Press and Sterling, Va.-based ColorCraft of Virginia (which it acquired from the late James Mayes in 2012) comprise a total of 140 employees. Click Read More below for additional detail.
Bookstore sales ended the first half of 2017 with a small gain over the comparable period in 2016, according to preliminary estimates released by the U.S. Census Bureau. Sales rose by $11 million over the first six months of 2016, hitting $5.06 billion, an increase of 0.2%. The small gain was driven by four consecutive months of modest sales increases in 2017 over 2016 after bookstore results had declined in January and February. In June, sales were up 1.5% over June 2016, reaching $721 million. For the entire retail segment, sales for the first half of 2017 rose 4.0% over the comparable 2016 period and were up 2.2% in June. source Publisher'sWeekly.com
Effective for all new and existing orders with confirmed deliveries October 1, 2017 and later, Catalyst Paper will be implementing a price increase of $1.00/cwt for the following paper products: Coated Groundwood Grades: Escanaba®; Dependoweb®; Capri®; Consoweb®. Catalyst Paper will also be implementing a price increase of $2.00/cwt for the following paper products: SC Grades: Electracal®; Electraprime®. This increase applies to all basis weights, finishes, grade extensions and related private label products.
The Home Depot® reported sales of $28.1 billion for the second quarter of fiscal 2017, a 6.2 percent increase from the second quarter of fiscal 2016. Comparable store sales for the second quarter of fiscal 2017 were positive 6.3 percent, and comp sales for U.S. stores were positive 6.6 percent. Net earnings for the second quarter of fiscal 2017 were $2.7 billion, or $2.25 per diluted share, compared with net earnings of $2.4 billion, or $1.97 per diluted share, in the same period of fiscal 2016. For the second quarter of fiscal 2017, diluted earnings per share increased 14.2 percent from the same period in the prior year. Click Read More below for additional detail.
American Media, Inc. announced that it was further building on its recent investment in Men’s Journal by increasing the brand’s print circulation to 1.25 million, a 66% increase as current readers of Men’s Journal and Men’s Fitness will be receiving Men’s Journal beginning with the November issue. The integration is part of a broader strategic investment in Men’s Journal that also includes a frequency increase to 12 issues per year and enhancements in both the print and digital products. The brands will continue to maintain separate digital destinations at mensjournal.com and mensfitness.com. “It’s clear, as evidenced by numerous third party research studies, that today’s affluent men are looking for, and eager to invest in, curated experiences and adventures,” said Men’s Journal Chief Revenue Officer Jay Gallagher. “AMI believes that Men’s Journal is well-positioned to meet these consumer demands by extending our national footprint and deepening our authority in this space with the addition of even more world-class editorial and the significant improvements in paper quality and trim size, so that we can continue to build on our position as the only destination for adventurous men.” Click Read More below for more of the story.
Futures fell 2.5 percent in New York. China’s oil refining dropped the most in three years in July, while crude output retreated from the highest this year. Libya’s biggest oil field, Sharara, cut output by more than 30 percent because of security threats, a person familiar with the matter said. Meanwhile, the dollar strengthened, eroding the lure of commodities as a store of value. "We’re seeing some strength in the dollar, and the preponderance of news seems to be favoring the bears right now," Phil Flynn, senior market analyst at Price Futures Group Inc. in Chicago, said by telephone. "If you look at the China data this morning, when it came to the China refinery runs being down in July, that’s adding to the perception of slowing demand, and it’s offsetting the concerns about Libyan oil production." Click Read More below for additional detail.
Fortress Paper Ltd. reported 2017 second quarter operating EBITDA of $4.3 million, a decrease of $2.0 million relative to the comparative prior year period and a decrease of $3.2 million over the previous quarter. The Dissolving Pulp Segment generated operating EBITDA of $3.5 million and the Security Paper Products Segment generated operating EBITDA of $2.8 million. Corporate costs included in operating EBITDA were $2.0 million. After 36 years in the forestry industry, including nearly five years at Fortress Paper, Yvon Pelletier will be retiring from the Company effective October 1, 2017. Chadwick Wasilenkoff will re-assume the role of Chief Executive Officer and President and continue to serve as Chairman of the board. In order to facilitate a smooth transition of Mr. Pelletier’s duties and strong customer and government relationships, he has agreed to a two year consulting agreement. Click Read More below for additional detail.
On November 29, the Pulp & Paper International Awards is held in Brussels. Hallsta paper mill is one of the finalists in the category “Environmental Leadership Award”, a prize awarded to a mill which has full focus on the environmental work and has shown ground-breaking sustainability efforts. We work hard with sustainability issues and we are today one of the most resource-efficient mills in our segment in Europe. Over the last three years we have invested over 20 MEUR in energy saving activities and projects. One hundred percent of the wood raw material is utilized, ninety-five percent of the fibres are used in the end product, the bark previously used as fuel at the mill is now sold for fossil-free energy production and the sludge from the effluent treatment plant is composted and sold as soil. Nothing is wasted, says mill manager Johan Abrahamsson. The investments have made it possible to run the mill without any CO2 emissions from the production process. The energy used is partly recovered as heat in the drying process. Another big advantage is the fact that all of the wood used in the process comes from sustainably managed forests and all the products are certified with the EU Ecolabel. Click Read More below for additional detail.
Effective with all new or previously entered orders shipping after 9/11/17 the price of our SC products will be increased by $2/cwt and CAD$2.50. This includes Artisan Plus, Artisan, Prominence Plus, Prominence and Maritime and all basis weights of these grades.
Please be advised that Irving Paper will increase its prices of Irving SCA, Irving SCB, Irving Radiance (SCA+) and Irving Opulence (SCA++) $40USD/ST and $50CDN/ST effective with all new and existing orders shipping on and after September 1, 2017. This increase affects all basis weights.
Futures fell 0.3 percent in New York after Friday’s 0.5 percent gain. Libya’s biggest oil field cut output by more than 30 percent, a person familiar with the matter said Sunday, while the head of a union said loadings at Zueitina ceased after employees demanded better working conditions. In the U.S., drillers added three crude rigs last week, according to Baker Hughes Inc. In Libya, the Sharara field’s output has dropped to 200,000 barrels a day, the person familiar said. “After months of boosting oil production, Libya currently seems to be experiencing output disruptions,” said Michael Poulsen, an analyst at Global Risk Management Ltd. Click Read More below for more of the story.
Norske Skog has received a well-developed recapitalization proposal from a substantial number of the secured holders of the SSN (EUR 290m, 2019) bond and the NSF (EUR 100m, 2020) loan, as detailed in the 28 July 2017 stock exchange release. Certain unsecured bondholders have further provided an alternative proposal. To further secure the financial situation of the operating business, Norske Skog is in the process of receiving a commitment letter for a EUR 16 million liquidity facility from a substantial number of the holders of the SSN and NSF. "We are very pleased that key stakeholders are willing to support the business operations of Norske Skog through liquidity facilities like the offered loans. Our paper mills are highly competitive business units with a prosperous future irrespective of the final solution to the group's capital structure. We have now secured the operating business by both relief on interest payments and this new financing, and there should be no reason to question the stability of our operating business through the refinancing" said Lars P.S. Sperre, President and CEO of Norske Skog. Click Read More below for additional detail.
Print buyers from Ann Inc., REI and Starbucks will tell print suppliers where and why sustainability figures into print buying decisions during the Brands Talking Sustainability luncheon at the 2017 SGIA Expo (New Orleans, Oct. 10-12). The luncheon takes place Tuesday, Oct. 10, 12:00-2:00 p.m., and features speakers Libra Balian, senior director, marketing operations, Ann Inc., Suzanna Eversole, manager, print production, REI and Stephen White, print production manager, Starbucks Coffee Company. “In a retail setting, marketing materials very often can’t be reused or recycled. That matters to a growing number of brands like Ann Inc., REI and Starbucks. They’re looking for print providers who understand the importance of the sustainable journey,” says Marci Kinter, VP, Government & Business Affairs, Specialty Graphic Imaging Association (SGIA). “This luncheon will explore how print suppliers can help retailers meet their sustainability objectives.” Click Read More below for more of the story.
With the e-book market showing no signs of returning to robust growth, two of HarperCollins’s main priorities in fiscal 2018 are global expansion and broadening its distribution base in North America, HC’s CEO Brian Murray told PW after the release of the publisher’s financial results for the fiscal year ended June 30, 2017. In the just-concluded year, EBITDA (earnings before interest, taxes, depreciation, and amortization) was $199 million, 7.5% higher than in fiscal 2016, despite a decline of $10 million in sales. Several factors impacted HC’s sales performance: there was one fewer week in the fiscal 2017 than in fiscal 2016, which cost $19 million, and the company suffered from the negative impact of currency fluctuations. Murray said he was “thrilled” with fiscal 2017 from both a publishing and financial standpoint and that the continued decline in e-books isn’t a major concern at the moment. He noted that, in the North American market, gains in print book sales and digital audio made up for the drop in e-book sales and that HC’s print frontlist and backlist sales were almost strong enough to match the revenue generated in fiscal 2016 by Go Set a Watchman. Among the company’s top-selling titles in the year were Hillbilly Elegy by J.D. Vance, The Magnolia Story by Chip and Joanna Gaines, and Jesus Calling and Jesus Always by Sarah Young. Click Read More below for more of the story.
After several months of laboratory work by the Research and Development team in Bordeaux France, Tembec has developed a very high viscosity cellulose grade. Just days ago, the production of this new grade, called Biofloc XV20, took place at the Tartas Specialty Cellulose mill in France. It is a tremendous success because a new world record for viscosity of a wood pulp was achieved. Tembec, the world leader in specialty cellulose for use in the production of cellulose ethers, responded to the needs of its main customers. “This new product can now compete directly with cotton linter pulp and opens new opportunities for our customers,” said Christian Ribeyrolle, Executive Vice President of the Specialty Cellulose Group. “Our customers in this segment needed a replacement for cotton linter pulp by a product which is less affected by market cycles but is of equivalent quality. Biofloc XV20 is now part of our product portfolio.” Click Read More below for additional detail.
At this year's Phoenix Challenge Foundation college competition promoting the flexographic printing industry, Clemson University utlilized UPM Raflatac's new Raflex MDO film labels as part of their team's successful entry. Partnerships with local manufacturers are very important to the university, and with two UPM Raflatac factories less than 100 miles from Clemson's campus, collaboration has never been easier. Raflex MDO films balance the best performance properties of PP and PE for maximum functionality and shelf appeal, which was key to the team's entry. Each year, participating teams are given a prompt and must work with a client/partner to fit into their packaging and promotional needs using flexography. In this year's challenge, Clemson's client/partner was the Flexographic Technical Association (FTA). Clemson's goal was to promote the FTA to younger generations and reinforce their scholarship program. Click Read More below for additional detail.
Total Company net sales increased 3.5 percent and comparable sales increased 1.7 percent, compared with the same quarter last year. The Company's Anniversary Sale, historically its largest event of the year, performed better than recent trends. Nordstrom continued its progress in executing its customer strategy while maintaining discipline around inventory and expenses: • As a result of the Company's ongoing efforts to provide newness and limited-distribution product to customers, Nordstrom proprietary labels represented three of the top five selling brands during the Anniversary Sale. • In executing its digital strategy, the Company delivered online sales growth of 20 percent at Nordstrom.com, reflecting its largest volume day in company history, and 27 percent at Nordstromrack.com/HauteLook. • The Nordstrom Rewards loyalty program continues to play an important role in reaching new customers and strengthening existing customer relationships. The Company has 9.4 million active Rewards customers in the U.S. and Canada, up approximately 50 percent, from 6.2 million a year ago. Sales from Nordstrom Rewards customers represented 56 percent of second quarter sales, compared with 48 percent a year ago. Click Read More below for additional detail.
LSC Communications, the spin-off from RR Donnelley, has embarked on an acquisition campaign that appears to herald the fundamental transformation of LSC Communications less than a year after RR Donnelley split into three publicly traded companies. Arguably the more traditional of the three now separate companies, LSC Communications primarily prints magazines, catalogs, books, directories and retail inserts. Even its chosen name, LSC Communications ("LSC"), derives from The Lakeside Classics, the annual Christmas time publication and production of unique hardcover case-bound books. The first edition, published in 1903, was the Autobiography of Benjamin Franklin, followed in 1904 by a reprint of all the Presidential inaugural addresses from Washington to Lincoln, and in 1905 all those up to Teddy Roosevelt's. Published every year since, future topics focused on American history and first-person narratives. The books were never sold, only given to employees, customers and friends of the company. The highly collectible books were printed and bound, with simple cloth covers and gold leaf stamping, in the Lakeside Press building in Chicago, hence The Lakeside Classics. From this history-steeped tradition, LSC Communications was launched in 2016 and now begins anew to transform itself. Click Read More below for more of the story.
J. C. Penney Company, Inc. announced financial results for its fiscal second quarter ended July 29, 2017. Total net sales increased 1.5 % to $3.0 billion in the second quarter compared to $2.9 billion in the same period last year. Comparable sales declined (1.3) % for the second quarter, resulting in a positive two-year stack of 0.9 %. Marvin R. Ellison, chairman and chief executive officer said, "We are pleased to deliver a top line sales increase of 1.5 % and quarterly sequential improvement of 220 basis points in our comp sales performance in go forward stores. While broader retail remains challenged, we are encouraged by the improved performance in our total apparel business, including a significant acceleration in kids' apparel. Nearly all categories delivered improved sales results during the quarter, with our growth initiatives in beauty, home refresh and omnichannel continuing to deliver positive sales growth." Click Read More below for additional detail.
Bauer Magazine Media publishes some of the world’s best-known and most loved magazines delivering entertaining, engaging and inspirational content for readers and significant reach for advertisers. Bauer Media is the UK’s leading consumer magazine publisher by total copies sold and Retail Sales Value. HIGHLIGHTS THIS PERIOD: •Bauer Media is No.1 in the TV Listings market •TV Choice celebrates ten years at the top - the only magazine in the UK to sell over 1 million copies every week •Bauer Media is home to two of the fastest growing magazines in the UK; Practical Photography and Garden Answers •Bauer Media is the UK’s No.1 publisher in the True Life market •Take a Break leads the market and is the UK’s No1 women’s weekly •Garden News is the UK’s No.1 weekly gardening title •Garden Answers has recorded its eighth consecutive YOY increase. Click Read More below for more of the story.
National Average Price for Regular – Current: $2.358; Month Ago: $2.260; Year Ago: $2.130. National Average Price for Diesel – Current: $2.525; Month Ago: $2.444; Year Ago: $2.295.
American Dollar to Canadian Dollar = 0.786108; American Dollar to Chinese Yuan = 0.150031; American Dollar to Euro = 1.176514; American Dollar to Japanese Yen = 0.009167; American Dollar to Mexican Peso = 0.055611.
While U.S. crude inventories dropped to the lowest since October, gasoline stockpiles last week expanded for the first time since early June, indicating that consumption boosted by the summer driving season may be waning. OPEC’s rate of compliance with production cuts slipped last month to 75 percent, the lowest since the accord started in January, the IEA said. OPEC reported Thursday its output is increasing on more supplies from Libya, which is exempt from the deal. “Concerns about the persisting supply glut resurfaced after petro-nations reported growing oil output,” said Norbert Ruecker, head of commodities research at Julius Baer Group Ltd. in Zurich. “We maintain a neutral view and see oil prices trading sideways as growing shale output and stagnant western-world oil demand undermine the Middle East’s supply deal.” Click Read More below for more of the story.
Cenveo Publisher Services announces a major update to Author Services, a publisher-branded e-commerce tool. Author Services enables the collection of fees integrated directly into a publisher's composition workflow. Cenveo's Author Services solution has been key to helping publishers improve the collection of fees for publication charges, Open Access, reprints/eprints and membership dues. Publishers who use Author Services report a 90% improved cash flow by eliminating common delays with fee collections. Author Services 2.0 now accommodates advanced payment processing, including discounts, coupon codes and expanded payment terms. Click Read More below for additional detail.
Costco Wholesale Corporation announced that Hamilton E. (Tony) James has been elected as the Chairman of the Board of Directors. He is President, Chief Operating Officer of The Blackstone Group…
Second Quarter 2017 Highlights (as compared to second quarter 2016): * Revenue increased 4.3% to $210.2 million primarily due to an increase in average selling price including the impact of product mix, additional revenue from the Powerband Acquisition(1), and the non-recurrence of the South Carolina Commissioning Revenue Reduction(2) in the second quarter of 2016. * Gross margin decreased to 22.5% from 25.7% primarily due to the non-recurrence of South Carolina Flood Insurance Proceeds(2) of $4.5 million recorded in the second quarter of 2016. * Net earnings attributable to the Company shareholders ("IPG Net Earnings") decreased $3.5 million to $10.2 million, primarily due to a decrease in gross profit and an increase in selling, general and administrative expenses (“SG&A”), partially offset by a decrease in manufacturing facility closures, restructuring and other related charges and income tax expense. Click Read More below for additional detail.
Metsä Board is delighted to announce that eight cartons using its paperboards have been shortlisted for the finals of the 21st European Carton Excellence Awards (formerly the Pro Carton ECMA Awards). With all the successful entries submitted by Metsä Board customers, there are finalists in Save the Planet, Most Innovative, Beauty & Cosmetics, Food & Beverages and Healthcare & Pharmaceuticals categories. The Awards will be presented at the ECMA Congress on 21 September in Salzburg and the winners will appear on www.procarton.com at midnight on 21 September. Click Read More below for additional detail.
Harvesting wood for the needs of the bioproduct mill in Äänekoski started today, on 11 August 2017. Until now, wood has been delivered to the old pulp mill and for the test runs of the new mill. The bioproduct mill start-up will begin in mid-August 2017. Buying woodfor the bioproduct mill began already in 2016. Direct harvesting begins today with thinning in the forest of Metsä Group’s owner-member Timo Akselin in Uurainen, Central Finland. The harvesting at the stand was carried out by the Saarijärvi-based Forest-Linna Oy, and the transportation was taken care of by Kuljetus H & H Heinonen Oy, based in Multia. “The start-up of the bioproduct mill is drawing closer, and we can now start increasing the harvesting volumes,” says Juha Mäntylä, EVP, Wood Supply, Metsä Group. Harvesting volumes will increase gradually this and next year. The bioproduct mill will reach its nominal production of 1.3 million tonnes of pulp approximately a year after its start-up. Click Read More below for additional detail.
There is an idea about magazine media that Madeleine Frank Reeves, senior editor at Country Living, would like to confront head on. As an editorial intern in New York, she was told over and over again that to work in magazines you have to pick up and move to New York and then look for a job. “That’s simply not true.” She also suggests that many of the more harsh critiques of the industry are unfair and not necessarily accurate. With all the depressing headlines lately, there are still positive stories to be told. Data suggests that 91% of adults have read magazine content in the past six months, and magazines still show the highest return on advertising spend (per the 2017 MPA Factbook). “Many more titles are launching than closing each year, and the industry is still growing, in part by finding new ways to create revenue so that we can continue to bring incredible content to readers,” Reeves says. “I know I’m biased, but magazines are important—there’s real value in being able to flip a page to a beautiful opening spread and get drawn into a story you would have never otherwise seen, especially in a time when what people read is so dictated by what their friends are posting on social media.” Click Read More below for more of the story.
Amelco Industries Ltd is one of the leading suppliers of raw materials and machinery for the manufacture of innerspring mattresses in the south-eastern Mediterranean and Middle East area. The company works hard to ensure that its products are the best they possibly can be – and with Mondi`s support it has now optimised the packaging for its mattress innersprings. With Mondi’s Advantage MF SpringPack Plus speciality kraft paper, the company exceeded customer and logistics expectations, while in addition it has set a new world record in innerspring packing together with Mondi`s Speciality Kraft Paper team. In order to enhance the loading capacity of the containers used during transportation, innerspring units are roll packed. Amelco made its first roll-packing machine more than 25 years ago, while by endorsing new customer needs and expectations, as well as its customers’ feedback, the machine has progressively been evolved to the version that is now been offered on the open market. Costas Georgallis, owner of Amelco Industries Ltd, explains: “We test our machine prototypes in real working conditions – e.g. with technical support from Mondi – and improve them before we release them to our customers who asked us to maximize the number of spring units packed in each roll. Together with Mondi`s speciality kraft paper experts we realised that controlling the paper tension was a major factor in achieving a successful result. We therefore had to use the best and strongest spring pack paper on the market – which is Advantage MF SpringPack Plus from Mondi. To us, there is no other packaging material that can match Mondi`s SpringPack Plus grade for roll-packing as it is the best suitable material to compress and roll-pack the springs in a safe way and without putting them at risk to be damaged.” Click Read More below for additional detail.
Commenting on the results, Chief Executive Robert Thomson said: “Fiscal 2017 was a significant year for News Corp as we saw tangible improvement in profitability, powered by the fast-growing Digital Real Estate Services segment, and we charged a premium for premium content while focusing on operating efficiencies. News Corp led the global debate about content value and values, prompting the digital platforms to address a dysfunctional content eco-system, in which the fake and the fraudulent have flourished. We are now in advanced discussions with those platforms over the creation of payment mechanisms for news of verified veracity. HarperCollins posted higher EBITDA and margins this year through poignant books with broad appeal in the U.S., such as The Magnolia Story and Hillbilly Elegy. We believe that the emergence of digital audio and our expanding global footprint are potent sources of long-term growth. Click Read More below for additional detail.
“The forests in the Congo Basin are home to more than 10,000 species. They provide food, water and shelter to more than 75 million people, and are of significant economic importance,” said Ben Gunneberg, CEO of PEFC International. “With PAFC-Congo becoming a member of PEFC and their work on developing a national forest certification system, we are taking a huge step towards safeguarding the benefits the forests in the region provide. We are thrilled to welcome PAFC-Congo into the PEFC alliance.” “We have been working in the Congo Basin for several years, and the addition of the Republic of Congo marks an important move forward for the development of certification in the basin,” Mr. Gunneberg concluded. Click Read More below for additional detail.
For the second quarter ended June 30, 2017, net sales were $12,812,000 down 9.5% from net sales of $14,151,000 for the Second Quarter 2016. For the six month period ended June 30, 2017, net sales were $28,171,000 down 4% from net sales of $29,355,000 for the same period of 2016. The second quarter net loss was ($526,000) or ($0.15) per share basic, ($0.14) per share diluted, compared to a 2016 second quarter net loss of ($83,000) or ($0.02) per share. For the six month period ended June 30, 2017, there was a net loss of ($468,000) or ($0.13) per share compared to a net loss of ($76,000) or ($0.02) per share for the same period of 2016. Click Read More below for additional detail.
Pratt Chairman Anthony Pratt has been named as the 6th most influential person in the world of pulp, paper and packaging by our industry’s leading information provider. RISI compiled the annual power list for the July/August issue of Tappi’s Paper 360 magazine after polling pulp and paper industry experts from around the globe to determine the top 50 industry executives wordwide. Anthony, who ranked 23rd last year, shot up 17 places as his U.S. company continued to show rapid growth. The entry reads: “The company’s go-getter global chairman received a standing ovation from President Donald Trump at an event in New York City in May after pledging to invest in the US. ‘I’d like to pledge another US$2 billion over the next 10 years, doubling our rate of investment, to create an additional 5,000 high-paying manufacturing jobs mainly in the Midwest,’ Pratt said. During the past couple of decades, the Australian billionaire has spent about US$2.5 billion building Pratt Industries into the sixth largest US containerboard producer, with four recycled containerboard mills and more than 60 box plants generating US$3 billion in sales. The Midwest has been a major area of recent investment, but recent speculation has been on Pratt Industries’ future expansion plans in the West, where the company bought Robert Mann Packaging. Pratt has talked of plans to build a US$1 billion corrugated box business in California and possibly add a mill on the West Coast. More recently, he mentioned plans to build a ‘high-tech, robotic’ box plant in California for more than US$70 million that could be capable of producing 135,000 tons/yr of corrugated.”
If you own a printing business, the questions most responsible for keeping you awake at night probably are, “How do I grow my business?” or “Where do I take it from here?” Attending PRINT 17 (Sept. 10-14) won’t necessarily give you the entire answer. But, no other event can open your eyes to as many possibilities. That’s the essence of the registration pitch being made for PRINT 17 by NPES, the printing equipment manufacturers’ trade association that now owns 100% of the PRINT and GRAPH EXPO shows. It’s a fair and reasonable proposition. Behind it lies the reality that, just as the printing industry has changed, so has its principal trade exposition. PRINT 17 has long been regarded as the primary venue for evaluating printing and graphic products and technologies. However, according to Thayer Long, president of NPES, this year’s PRINT 17 promises to grow beyond a high-energy exhibition into an entirely new experience. Click Read More below for additional detail.
The New York Times today launched “The New York Times Travel Magazine 新视线.” The magazine will be published by Huasheng Media and circulated six times a year throughout mainland China. It will combine curated travel coverage and photographs from The New York Times, along with original local content. The Travel Magazine 新视线 will be distributed in Beijing, Shanghai, Xi’an and Shenzhen, among other cities, and available at newsstands, in bookstores and boutiques, as well as luxury hotels, high-end stores and airport VIP lounges. On the launch, Xuan Feng, the editor-in-chief of the magazine said, “Over the decades, the travel industry has rapidly grown in China and Chinese readers have shown that they want more in-depth travel stories as well as more immersive trips inspired by those stories.” Mr. Feng also serves as the editor-in-chief of T Magazine China. Click Read More below for additional detail.
The U.S. Government Publishing Office (GPO) print procurement program is looking to expand the number of companies registered to do business with the agency to meet the growing printing/publishing needs of Federal agencies. "GPO's partnership with the private sector printing industry is cost-effective, creates thousands of jobs nationwide, and generates huge savings for the American taxpayer. Also, surveys of GPO's Federal agency customers in recent years have consistently reported high rates of Federal agency satisfaction with our print procurement program,” said GPO Director Davita Vance-Cooks. GPO’s nationwide print procurement program provides significant economic opportunities for private sector companies to expand their business by providing services to Federal agency customers on a national level. GPO’s print procurement program awarded nearly $360 million in contracts to the private sector for printing and publishing services in FY 2016. Click Read More below for additional detail.
The U.S. Postal Service reported revenue of $16.7 billion for the third quarter of fiscal year 2017 (April 1, 2017 - June 30, 2017). Revenue for the quarter was essentially unchanged compared to the same quarter last year, excluding the effect of a $1.1 billion non-cash change in accounting estimate recognized during the third quarter of fiscal year 2016. Revenue from First-Class Mail and Marketing Mail decreased $422 million and $150 million, respectively, over the prior year quarter, due largely to lower volumes. These declines in revenue for these products were nearly offset by continued growth in the lower-margin Shipping and Packages business, with third quarter revenue increasing $473 million, or 11.3 percent, in that part of the Postal Service's business. Operating expenses for the quarter were $18.8 billion, a decrease of $461 million, or 2.4%, compared to the prior year quarter. Expenses for retiree health benefits and workers compensation declined by $869 million and $1.0 billion, respectively, but were partially offset by $1.2 billion in higher retirement expenses largely driven by changes in Office of Personnel Management actuarial assumptions and interest rates. Click Read More below for additional detail.
Kevin Mansell, Kohl's chairman, chief executive officer and president, said, "The traffic momentum that we saw in the combined March/April period accelerated in the second quarter. Though transactions for the quarter were lower than last year, July transactions increased. We are also excited by the sequential sales trend improvement in all our lines of business, all geographic regions, and in both our proprietary and national brand portfolios. Gross margin and SG&A expenses were consistent with our expectations and we are seeing benefits from our ongoing inventory initiatives and the early stages of our cost-saving initiative." Click Read More below for additional detail.
Q2 2017 Highlights • Sales of $1,130 million (compared to $1,006 million in Q1 2017 (+12%) and $998 million in Q2 2016 (+13%)) • As reported (including specific items) • Operating income of $48 million (compared to $31 million in Q1 2017 (+55%) and $65 million in Q2 2016 (-26%)) • OIBD 1 of $104 million (compared to $78 million in Q1 2017 (+33%) and $112 million in Q2 2016 (-7%)) • Net earnings per common share of $3.41 (compared to net earnings of $1.70 in Q1 2017 and net earnings of $0.38 in Q2 2016) • Adjusted (excluding specific items) 2 • Operating income of $51 million (compared to $28 million in Q1 2017 (+82%) and $65 million in Q2 2016 (-22%)). Click Read More below for additional detail.
Cascades Inc. announces that it will close its packaging plant in Maspeth, New York, as part of the Corporation's modernization and optimization efforts in the Northeastern United States. "To support our future development and better serve our customers, we are announcing today that the Maspeth plant's output will gradually be redeployed to our other facilities. This decision was necessary as the current site has reached its physical limits. This transition will be seamless for all of our customers. The property has already been put up for sale for US$72 million," said Charles Malo, President and Chief Operating Officer of Cascades Containerboard Packaging. Click Read More below for additional detail.
Futures advanced 0.3 percent after climbing 0.8 percent Wednesday. Output slid for the second time in three weeks, according to Energy Information Administration data, while stockpiles dropped by 6.45 million barrels, almost triple the median forecast in a Bloomberg survey. Gasoline inventories unexpectedly rose for the first time since early June. Oil has fluctuated below $50 a barrel for more than a week as investors weigh rising global supply against output cuts by members of the Organization of Petroleum Exporting Countries and its allies including Russia. While U.S. crude stockpiles have declined during a period of strong seasonal demand, they remain almost 90 million barrels above the five-year average. Click Read More below for additional detail.
Sheridan has acquired PubFactory, the industry-lauded online publishing platform for journals, books, and reference works, from O’Reilly Media. PubFactory will continue to be based out of Boston, MA, and will blend seamlessly into the Sheridan stable of publisher technology products and services. The PubFactory team has been developing and delivering scholarly publishing technologies since 1999. In 2010, the PubFactory platform officially launched with the deployment of several major Oxford University Press products. This was quickly followed by the International Monetary Fund’s eLibrary and De Gruyter’s journals, books, and database products launching in 2011. Notable publishers including Bloomsbury Publishing, Brill, Edward Elgar Publishing, Harvard University Press, Peter Lang, and others have since joined the growing list of PubFactory customers. PubFactory’s configurable suite of front-end and back-end capabilities allows for optimal support across content types, making it a truly content agnostic platform that is host to 1400+ journals, 400,000+ books, and numerous database and reference work products. Click Read More below for additional detail.
As indicated, net sales and the net result in the first quarter of the year under review have improved over the same quarter of the previous year. For example, sales rose compared to the previous year, reaching €495 million (same quarter of previous year: €486 million). This was attributable primarily to Western Europe and China. As anticipated, at €629 million, incoming orders were below those of the same quarter of the previous year (€804 million), which saw a particularly high level of incoming orders from the drupa trade show. The order backlog increased by over 20 percent from €497 million at the end of the financial year to €603 million as at June 30, 2017. Profitability, as expressed in EBITDA and EBIT, increased in the quarter under review compared to the previous year’s values. At €14 million, EBITDA was far better than in the same quarter of the previous year (€1 million), while EBIT amounted to €–3 million (previous year: €–16 million). Due to lower financing costs, the financial result improved to €–13 million (same quarter of previous year: €–16 million). Including income taxes, the net result after taxes of €–16 million was a significant improvement over the previous year’s figure (€–37 million). Click Read More below for additional detail.
Irving Consumer Products is pleased to announce the expansion of its United States business operations with the construction of a new $400 million state-of-the-art tissue plant in Macon, Georgia. The new plant will create over 200 jobs and allow the company to double its ThruAir Dry capacity, increasing it by 75,000 tonnes, the equivalent of 15 million cases. “We’re pleased to be expanding our business in the United States. We’re excited by the opportunity in Macon and in Georgia. We’re looking forward to building a strong relationship with the wonderful people of this community,” says Robert K. Irving, President of Irving Consumer Products. “Selecting Macon for our new facility provides us with an opportunity to establish a footprint in a region that has proven itself as being a strong supporter of business. It will allow us to reach key markets, and will help to continue to drive our growth.” Mr. Irving further adds, “This expansion is possible because of the commitment of our employees, customers and suppliers. It is their support that has allowed us to grow and expand.” Click Read More below for additional detail.
Wood costs for the pulp industry in Europe were generally lower in the 1Q/17 than in the previous quarter, continuing a downward trend that, depending on the country, has lasted for 4-6 years. The biggest price declines for pulplogs and sawmill residues in early 2017 occurred in Germany and France, according to the Wood Resource Quarterly (WRQ). The price reductions occurred mainly because of an oversupply of pulplogs, unchanged demand for wood fiber from the pulp industry, and reduced usage of raw-material by the competing wood pellet sector. In neighboring Austria, conifer pulplog prices have been very stable during most of 2015 and 2016 (in Euro terms) and prices did not change much in the 1Q/17. However, the weakening of the Euro against the US dollar has resulted in Austrian pulplog prices falling seven percent in two years. In the Nordic countries, wood fiber costs in the 1Q/17 were at their lowest levels since 2006 (in US dollars). This was mostly thanks to the weakening of the local currencies in both Sweden and Finland. The wood fiber costs currently account for about 60% of the manufacturing cost when manufacturing pulp in the region, according to Fisher International, so a reduction in prices for pulplogs and wood chips has a major impact in improving the competitiveness of the pulp and paper industry when competing in the global market place. Click Read More below for additional detail.
Transcontinental Inc.'s Media Sector, TC Media, announced today the sale of three of its publications, namely L'Étoile du Lac, based in Roberval, Le Lac-St-Jean, in Alma, and Le Nouvelles Hebdo, in Dolbeau-Mistassini, as well as their related web properties, to Trium Médias Inc. The group consists of two TC Media employees, namely Ms. Marlène Claveau and Ms. Stéphanie Gagnon, as well as Mr. Daniel St-Pierre. The 23 employees of these publications will pursue their careers with Trium Médias Inc. The Corporation would like to thank them for their professionalism and wishes them the best for the future. Furthermore, TC Transcontinental also concluded a multi-year agreement for the printing and distribution of these three publications. This transaction is part of the process for the sale of TC Media's local and regional newspapers in Quebec and Ontario, which was made public in a press release issued by Transcontinental Inc. on April 18.
Sales in the second quarter of 2017 totaled $5.552 billion, a decrease of 5.4 percent, compared with sales of $5.866 billion in the second quarter of 2016. The year-over-year decline in total sales reflects, in part, the closure of stores previously announced by the company. Comparable sales on an owned basis were down 2.8 percent in the second quarter and down 2.5 percent on an owned plus licensed basis. Year to date, Macy's, Inc.'s sales totaled $10.890 billion, down 6.4 percent from total sales of $11.637 billion in the first half of 2016. Comparable sales on an owned basis were down 4.0 percent in the first half of 2017 and down 3.6 percent on an owned plus licensed basis. Macy's, Inc.'s operating income totaled $254 million or 4.6 percent of sales for the second quarter of 2017 compared to $117 million, or 2.0 percent of sales for the second quarter of 2016. Excluding non-cash settlement charges of $51 million, operating income for the second quarter of 2017 totaled $305 million or 5.5 percent of sales. Excluding asset impairment and other charges primarily related to store closings of $249 million and non-cash settlement charges of $6 million, operating income for the second quarter of 2016 totaled $372 million or 6.4 percent of sales. For the first half of 2017, Macy's, Inc.'s operating income totaled $474 million or 4.4 percent of sales compared to $393 million or 3.4 percent of sales for the first half of 2016. Click Read More below for additional detail.
Pearson announced the latest in series of partnerships to expand its textbook rental program. Today’s announcement brings Pearson’s textbook rental program to Barnes & Noble Education’s (NYSE:BNED) 1,490 physical and virtual bookstores, serving more than 6 million students. Beginning this fall, the program will be piloted at Barnes & Noble College stores, enhancing their current industry leading rental program with these 49 popular Pearson titles. The titles will be available in print and digital versions via a “rental-only” model, which will provide students with affordable access to the selected titles. All titles under this program can be rented for under $100, with electronic versions of these titles being the lowest cost option. Pearson anticipates expanding the titles included in this program over time. In January, Pearson announced a two-step plan to take on the issue of college affordability. The plan immediately reduced the prices of 2000 e-book titles by up to 50 percent when it was announced earlier this year. The second phase of the effort ensures that students can rent popular print titles online and in-store through trusted retailers. This rental-only model allows Pearson to reduce prices by up to 60 percent and ensure that all students have access to affordable textbooks. The Barnes & Noble College agreement represents the third-and largest-partnership in that program. Click Read More below for additional detail.
Every day we send email, navigate the web and store our videos, photos or music in the Cloud. We often have the impression that the whole process is trivial and nearly free, but this is not at all the case. So says L’Agence de l’Environnement et de la Maîtrise de l’Énergie (ADEME), an agency of the government of France which, promotes an environmental approach to the workplace and to daily living. In a recent Guide, La Face Cachée de Numérique, (The Hidden Face of Digital), they describe the widespread environmental impacts of the growing number of digital devices (increasing energy consumption, use of primary minerals, pollution and waste production) and how to reduce them. In the Guide, it is estimated that there are 2 billion smartphones, 1 billion computers, 5 to7 billion other connected devices and 45 billion servers worldwide and that 8.4 billion connected devices would be sold in the world in 2017, 31% more than in 2016. The forecast for 2020 is 50 billion connected devices. In one hour, there are 8 to 10 billion emails sent (not including spam) and 180 million Google searches and the average distance a piece of data travels is 15,000 km. Click Read More below for additional detail.
Verso Corporation reported financial results for the second quarter of 2017, including net sales of $585 million, a net loss of $49 million, and adjusted EBITDA of $(4) million. "Despite a challenging second quarter in which profitability was hampered by lower volume and pricing, rising input costs and inventory reduction initiatives, Verso is building momentum toward significantly improved results in the second half of the year as we anticipate realization of price increases, continue to aggressively cut costs and profitably grow our specialty papers business," said Verso Chief Executive Officer B. Christopher DiSantis. "In addition, we've made substantial progress in evaluating Verso's long-term strategic options, which potentially include paper machine conversions to enable expansion or entry into growing markets, enhancements to current assets that support a more profitable product mix, and corporate development opportunities." Click Read More below for additional detail.
Total reported sales for the second quarter of 2017 were $2.4 billion compared to $2.6 billion in the second quarter of 2016, a decrease of 9%. In the second quarter of 2017, Office Depot reported operating income of $46 million and net income of $24 million, or $0.05 per share. Net income from continuing operations was $21 million, or $0.04 per share. In the second quarter of 2016, the company reported operating income of $271 million and net income of $210 million, or $0.38 per share. Net income from continuing operations was $232 million, or $0.41 per diluted share. Results in the second quarter of 2016 benefited from $250 million of income related to the Staples termination fee received in the period. Click Read More below for additional detail.
Mohawk, North America’s largest privately-owned manufacturer of fine papers, envelopes and specialty materials for commercial and digital printing is proud to announce the release of A Maker’s Field Guide to Envelopes, the latest in a series of comprehensive, printed guides designed to inspire and educate designers, their clients and printers on the importance of choosing the right materials for print. “The new Maker’s Field Guide to Envelopes is the latest expression of Mohawk’s ongoing commitment to helping demonstrate the pivotal role materials play in the success of every print job,” said Chris Harrold, Vice President, Creative Director, Mohawk. “Envelopes are equal part function and first impression. An envelope is like a handshake that simultaneously says ‘hello’ and ‘open me first!’” A Maker’s Field Guide to Envelopes was created by Aurora Design to complement Mohawk’s Maker’s Field Guide to Texture and Color and the Mohawk Maker Quarterly, an award-winning publication which highlights the beauty and tactility of fine paper. Both publications have become go-to resources for makers and creatives worldwide as print is rediscovered as a powerful alternative to digital communication. Click Read More below for additional detail.
Vancive Medical Technologies™, an Avery Dennison business, and Eloquest Healthcare®, Inc. have partnered to develop an innovative post-operative dressing that contains an antimicrobial agent called chlorhexidine gluconate (CHG). The antimicrobial properties of CHG inhibit microbial growth within the dressing. CHG is extremely difficult to incorporate in an absorbent adhesive dressing, making the development of the BeneHold™ CHG platform a significant technical accomplishment for Vancive. The Eloquest Healthcare ReliaTect™ Post-Op Dressings with CHG are the first to combine CHG in an absorbent, transparent and waterproof design. Click Read More below for additional detail.
Popular Science continued to expand its considerable audience reach in June, with an average monthly audience growth of 38% and an increase in unique visitors to PopSci.com of 32% year over year for June. This milestone comes on the heels of Popular Science’s March/April “Water” issue’s star performance on newsstands at 38.3% year over year. The magazine brand’s total audience grew 31.5% year over year, and ranks third among the top ten magazine brands (source: MPA). “I’m extremely proud of the editorial team for all their hard work, which isn’t going unnoticed by Popular Science’s readers,” says Gregory Gatto, Senior Vice President, Managing Director, Bonnier Corporation. “The team has really concentrated on delivering print, digital and social products that are smart, timely, and unique.” Click Read More below for more of the story.
Futures added 0.3 percent in New York after dropping 0.8 percent the previous two sessions. U.S. inventories slid by 7.8 million barrels last week, the American Petroleum Institute was said to report Tuesday, while a Bloomberg survey also forecast a decline. The Energy Information Administration marginally boosted its estimates for American production in 2017 and 2018. “The recovery this morning is most likely in anticipation of a sixth inventory decline in crude oil this afternoon” when the EIA releases its weekly stockpiles report, said Ole Sloth Hansen, head of commodity strategy at Saxo Bank A/S in Copenhagen. Gains will be capped by a stronger dollar, he said. Click Read More below for additional detail.
School will be back in session before you know it, meaning there will be supplies to buy, new clothes to try, backpacks to fill, and Box Tops to clip. Since 2011, Boise Paper has contributed nearly $11 million to U.S. schools and remains the exclusive office product partner of Box Tops for Education. Families can support students and local schools by clipping Box Tops from select Boise Paper products. This small action adds up to millions of dollars every year that K-8 schools use to purchase supplies, sports and music equipment, new technology, and more! Purchasing products with Box Tops is just one of five tips Boise Paper has to help you start the school year on a high note. • Start early – Don’t get caught scouring empty store shelves the night before the first day of school. Parents should take stock of what supplies are already at home or what can be reused from last year and begin creating a list of everything needed for the new school year. Once the class supply list is available, shop for essential items right away. For everything else, wait to shop until September when retailers are likely to mark-down supplies even further. Click Read More below for more of the story.
While the definition of a classroom writing tablet has expanded these days, a recent study shows that paper is still important to productive learning. The Paper and Packaging Board surveyed 4,300 students, parents and teachers in the United States and not only does paper have a role in the classroom, but its use and importance is growing. The study revealed three themes around the value of paper for learning. First, paper boosts engagement in school. Nearly two-thirds of K–12 teachers (64%) feel students comprehend information better and are more engaged (63%) when they read on paper. Close to two-thirds (64%) of K–12 teachers reveal their students even respond better to lessons that are based on paper textbooks. Click Read More below for more of the story.
Mail-Gard®, a division of IWCO Direct and one of the nation’s leading providers of critical communication recovery solutions, announced it is creating a dedicated Advanced Recovery Center at its Warminster, Pa. campus. With a second dedicated recovery center located in Hamburg, Pa., the expansion of Mail-Gard’s footprint will improve service delivery while providing increased efficiency of operations, training, and shared resources. With a total of 105,000-square-feet at the primary location, the Advanced Recovery Center will also allow for future expansion of technology and staff necessary to support a robust platform of business continuity, disaster recovery, and print-to-mail overflow services. To accommodate the change, recovery equipment will be relocated from Minnesota to Pennsylvania. Click Read More below for additional detail.
Revenue in Q2 2017 was $314.4 million, compared to $295.8 million in Q2 2016, an increase of $18.6 million or 6.3%. The increase in revenue was primarily due to higher sales volume and the favourable impact of foreign exchange on U.S. dollar sales. Cost of sales in Q2 2017 increased to $267.1 million, compared to $249.9 million in Q2 2016, primarily due to higher sales volumes, an increase in fibre and natural gas prices and the unfavourable impact of foreign exchange on U.S. dollar denominated costs, as well as higher freight and warehousing costs, partially offset by cost reduction initiatives and the impact of capital projects. As a percentage of revenue, cost of sales were 85.0% in Q2 2017 compared to 84.5% in Q2 2016. Net income in Q2 2017 was $9.9 million, compared to $12.0 million in Q2 2016, primarily due to an increase in the change in amortized cost of Partnership units liability of $2.5 million and an increase in tax expense of $1.3 million. These increases were partially offset by higher Adjusted EBITDA of $1.4 million. Click Read More below for additional detail.
Revenue at Simon & Schuster rose 10% in the second quarter ended June 30, 2017, over the comparable period in 2016, and operating income increased 8%, S&S parent company CBS reported. It was the second consecutive quarter that revenue at S&S grew by double digits in 2017. Revenue in the most recent period was $206 million, up from $187 million, and earnings rose to $28 million from $26 million a year ago. The increase was led by growth in print book sales as well as digital audio. Results also include Adams Media, which S&S bought last November. S&S CEO Carolyn Reidy said the company's children's, audio, and international divisions all had double digit sales increase in the quarter, while sales in the adult group rose by single digits. With digital audio posting another strong quarter, sales of the format were up 34% in the first half of 2017 over the same period of 2016. Reidy estimated that S&S will increase its title output of digital audio by 20% to 25% for the year. Click Read More below for additional detail.
The Sustainable Forestry Initiative (SFI) announced today the opening of its annual request for proposals (RFP) for the SFI Conservation and Community Partnerships Grant Program. The grants program supports SFI’s work to promote sustainable forest management through partnerships with conservation groups that are contributing to the understanding of critical links between forests and communities across the range of American and Canadian forests, and community groups working at the intersection of sustainable forestry, responsible procurement and thriving communities. "SFI is proud to stand with so many partners that lead the way on positively impacting the future of our forests. This new grant cycle allows us to reassert our role as a sustainability leader that is working beyond supply chain assurances to elevate conservation value and foster community engagement,” said Kathy Abusow, President and CEO of SFI Inc. “We look forward to this round of proposals and how they will contribute to our scientific understanding, long-standing commitment to forest research, and shared quality of life.” Click Read More below for additional detail.
Rayonier Advanced Materials Inc. and Tembec Inc. announced that the Québec Superior Court issued a final order approving the previously announced statutory arrangement under Section 192 of the Canada Business Corporations Act involving the acquisition by Rayonier Advanced Materials of all of the outstanding shares of Tembec. The Transaction has already received clearance from Germany’s Federal Cartel Office, and the United States Department of Justice and the Federal Trade Commission have notified Rayonier Advanced Materials and Tembec that the Hart-Scott-Rodino premerger notification waiting period was terminated. Applications for clearance from the applicable regulatory authorities in Canada and China, respectively, are pending. Subject to obtaining other necessary approvals, as well as the satisfaction or waiver of the conditions to the Transaction, it is expected that the Transaction will be completed in the fourth quarter of 2017.