Asia Pacific Resources International Ltd (April) can resume forestry operations at its Indonesian pulp and paper subsidiary, government officials said on Tuesday (Oct 24), amid a dispute over environmental rules. April halted forestry operations at PT Riau Andalan Pulp and Paper (RAPP) and said thousands of jobs were at risk after the Indonesian environment ministry rejected its long-term work plan. One of Asia's biggest pulp and paper firms, April has been in talks with the government over the re-zoning of roughly half of its 480,000ha of plantation areas that sit on peatland. "(RAPP) was never forbidden from operating," Environment and Forestry Ministry secretary-general Bambang Hendroyono told reporters, referring to discussions on the company's work plans that had been under review since May. Click Read More below for additional information.
The publisher of Better Homes & Gardens and Martha Stewart Living asked the court to order a refund in a lawsuit filed Monday in federal court in Des Moines, where the company is headquartered. The lawsuit says Meredith historically has claimed a deduction on income derived from production of its magazines and books. Last year the IRS disallowed the deduction and ordered payment of additional taxes for 2006 through 2012 saying Meredith didn't maintain ownership of the publications while they were running through the contract printers' presses. Meredith says that's a misinterpretation of the law. Click Read More below for additional information.
Total revenues were $157.3 million compared with $165.8 million in the prior year period. Adjusted for the sale of Fannie May Confection Brands (which closed on May 30, 2017), total revenues increased 1.81 percent. EPS loss for the quarter was $0.20 per share, compared with a loss of $0.24 per share in the prior year period. Adjusted for the sale of Fannie May, the prior year period EPS loss was $0.201 per share. Adjusted EBITDA1 was a loss of $10.1 million, compared with an Adjusted EBITDA1 loss of $13.1 million in the prior year period. Reflecting the sale of Fannie May, Adjusted EBITDA1 loss in the prior year period was $9.5 million. Click Read More below for additional information.
The Board of Directors of BillerudKorsnäs has appointed Petra Einarsson new President and CEO of the company. Petra succeeds Per Lindberg who is, after 12 successful years, leaving BillerudKorsnäs on his own request for a new assignment. Petra Einarsson will assume her new position at the turn of the year 2017-2018. ”I am very glad to present Petra Einarsson as new President and CEO of BillerudKorsnäs”, says Lennart Holm, Chairman of the Board. “Petra is a highly experienced and competent leader. She has during her years as President of Sandvik Materials Technology shown her capability to successfully develop a complex process industry in a competitive environment. With Petra as new CEO, I am convinced we will succeed in our ambitions to further develop BillerudKorsnäs to new levels.” Click Read More below for additional information.
Futures were little changed in New York and are up 4.8 percent this month, after rallying 9.4 percent in September. U.S. crude inventories probably declined for a fifth time in six weeks, according to a Bloomberg survey before government data due Wednesday. Saudi Arabian Crown Prince Mohammed bin Salman said last week that he backed prolonging supply curbs, following a similar endorsement by Russian President Vladimir Putin earlier this month. Global benchmark Brent crude this month topped $60 a barrel for the first time since 2015 on hopes the Organization of Petroleum Exporting Countries and partners including Russia will prolong their curbs aimed at eliminating a glut. Prices were also boosted by fighting between Iraqi government troops and Kurdish forces in the oil-rich Kirkuk region. Still, the potential for continued supplies from U.S. shale fields is a concern. Click Read More below for additional information.
Cascades Inc. announced a $21-million investment in its Cascades Inopak (Drummondville) and Plastiques Cascades (Kingsey Falls) plants in order to acquire equipment enabling it to increase its production of food packaging, primarily for the fresh protein market. The Cascades Inopak plant in Drummondville will benefit from a $15-million investment. This will be used to expand the existing building and to install a high-performance rPET film manufacturing line that is unique in Canada and which includes a built-in, cutting-edge decontamination unit. This will make it possible to significantly increase the production capacity of Integral TM packaging, which is made from recycled PET, is recyclable and allows food in certain markets—such as fresh protein—to be kept for double the amount of time, thus radically reducing food waste. Nearly $6M will be invested in the Kingsey Falls Plastiques Cascades plant to modernize equipment, notably by adding a new extrusion line and two recycling lines, which will increase the production capacity by 25% and double the plant's internal recycling capacity. The Kingsey Falls plant produces EVOK ® , the first polystyrene foam tray in North America to contain at least 25% recycled materials. These investments will facilitate an eventual increase in this percentage and, by extension, further reduce the CO 2 emissions of products marketed by our customers. Click Read More below for additional information.
Evergreen Packaging, with support from KidsGardening, announced the launch of the spring 2018 Carton 2 Garden contest, the nationwide competition that invites students of all ages to repurpose milk and juice cartons in school gardens that teach math, science, arts, environment and sustainability. Now in its fourth year, the Carton 2 Garden contest underscores Evergreen Packaging’s commitment to championing sustainability, STEM-learning and healthy living. “The Carton 2 Garden contest gives thousands of students across the country the opportunity to not only learn more about gardening, but also teamwork, nutrition, sustainable practices and environmental stewardship,” said Katie Simmons, marketing manager at Evergreen Packaging. “We are thrilled to once again partner with KidsGardening, the leaders in the school garden movement, to equip contest entrants with educational materials that instill these important lessons and life skills. Each year the gardens grow more inventive, and we look forward to seeing the innovations that will be created for this year’s contest.” Click Read More below for additional information.
Glatfelter reported net income of $12.1 million, or $0.27 per diluted share for the third quarter of 2017 compared with net income of $19.6 million, or $0.44 per diluted share in the third quarter of 2016. Adjusted earnings for the third quarter of 2017 was $21.9 million, or $0.50 per diluted share compared with $24.0 million, or $0.54 per diluted share, for the same period a year ago. On an adjusted basis, earnings before interest, taxes, depreciation and amortization and excluding pension expense (“Adjusted EBITDA”) for the three months ended September 30, 2017 and 2016, totaled $50.6 million and $49.1 million, respectively, an increase of 3.1%. Adjusted earnings and Adjusted EBITDA are non-GAAP financials measures for which reconciliations to the nearest GAAP-based measure are provided within this release. Consolidated net sales totaled $413.3 million and $405.3 million for the three months ended September 30, 2017 and 2016, respectively. In the Composite Fibers and Advanced Airlaid Materials business units, net sales increased by 5.0% and 6.6%, respectively, on a constant currency basis. Specialty Papers’ net sales declined 4.0% in the quarter-over-quarter comparison. Click Read More below for additional information.
Florine Turnbull of Juniper New Brunswick started her first summer job as a student in 1967. 50 years later, she is still working at the same place. “It’s like a family here,” Turnbull said of the Juniper Tree Nursery, a J.D. Irving Woodlands operation celebrating its 60th year this year. The nursery opened in 1957 and was already 10 years old when Florine started as a “weeder” in the seedling beds. Then she worked as a seedling planter in the transplant fields. “It was good hard work and long days, and we didn’t have air-conditioned offices like we do today”, she laughed. Today, Florine supervises greenhouse thinning and monitors seedling growth quality. Click Read More below for additional information.
Laakirchen Papier AG said that the grade conversion project involving paper machine 10 at its mill in Laakirchen, Austria, is complete and PM10 is back in operation. The 10-week project converted PM10's production from SC paper to light-weight containerboard based on recycled fiber. According to the company, the machine project was finished on schedule. Click Read More below for additional information.
JANUARY 1 – SEPTEMBER 30, 2017 (compared with the year-earlier period, continuing operations): •Net sales increased 9% to SEK 12,422m (11,434) •Adjusted EBITDA improved 10% to SEK 2,683m (2,443) •The adjusted EBITDA margin was 21.6% (21.4) •Adjusted operating profit was SEK 1,838m (1,616) •Operating profit totaled SEK 1,725m (1,739) •Net profit for the period totaled SEK 1,278m (1,358). Click Read More below for additional information.
Tetra Pak has today launched the Tetra Fino® Aseptic 100 Ultra MiM, a new package that offers an opportunity for customers to produce liquid dairy and juice drinks using their existing production processes, and market them as ice creams and frozen products. The new package allows dairy and juice drinks to be produced and distributed in small carton pouches at room temperature, and subsequently turned into frozen products in shops or in a consumer’s home. This means producers can tap into the $72bn1 global ice cream market without the need for additional investment in production equipment and chilled distribution system. Want Want, a leading food company in China, is the first company to trial this product. Click Read More below for additional information.
The Georgia Minority Supplier Development Council (GMSDC) recognized supplier diversity champions at the 35th Spirit of Alliance Awards, held on August 25, at the Atlanta Marriott Marquis hotel. The Spirit of Alliance Gala honors the corporations, Minority Business Enterprises (MBEs) and supplier diversity advocates that are setting the standard for small business development and creating opportunities for minority-owned businesses in Georgia. The Spirit of Alliance Awards honors corporations', Minority Business Enterprises (MBEs) and supplier diversity advocates that are setting the standard for small business development and creating opportunities for minority-owned businesses in Georgia. Click Read More below for additional information.
Please be advised we plan to increase the price of our 30# (48.8 gsm.) standard newsprint by $30.00 per metric ton. This increase will go into effect in two stages; $15.00 on December 1, 2017 and $15.00 on January 1, 2018. Prices for other newsprint basis weights will increase proportionally as per past practices.
Due to rising costs pulp, raw materials and transportation, Moorim announces a $2.00/cwt increase on all C1S label basis weights in both sheets and rolls, effective from orders received on and after November 1, 2017.
Wisconsin has lost about one-third of its paper mills in the last two decades. More companies are nearly bankrupt or are exploring the possibility of selling their mills. This fall, Industrial Assets Corp., a Los Angeles-based used machinery dealer, bought the Appleton Coated paper mill in Combined Locks, Wisconsin. In addition, Verso Corp. formed a committee to explore the potential sale of some of its mills. The company operates mills in both Duluth and Stevens Point. Jeff Landin, president of the Wisconsin Paper Council, said Wisconsin’s paper industry is doing well overall, but some mills are struggling. "You’ve seen some of that in the Appleton Coated issue where they’ve gone through receivership, but it’s really a byproduct of what they produce. It’s the coated paper market that’s challenged," he said. But, Landin said tissue, packaging and specialty papers make up more than 90 percent of products in Wisconsin’s paper industry. Click Read More below for additional information.
Oil started the week off with mixed readings after last week’s nearly 5% rise as investor sentiment in black gold continued to be buoyed by hopes of extension to the OPEC-led deal to curb production. U.S. crude showed cautious trade around the unchanged mark Monday with the benchmark unable to hold the $54 mark, though the London barrel managed to extend gains. The U.S. West Texas Intermediate crude December contract slipped 2 cents, or 0.04%, to $53.88 a barrel by 5:12AM ET (9:12GMT). Click Read More below for additional information.
Expecting shipping volume to jump 5% this holiday season, UPS is on track to shatter its holiday shipping records. The carrier plans to deliver more than 750 million packages globally in the 25 days between Thanksgiving and New Year’s Eve. This volume is approximately 5% above last year’s holiday peak shipping season volume. During 17 of these 25 days, UPS expects to deliver more than 30 million packages. To ensure it can get packages into recipients’ hands in a timely manner, the company is launching UPS Saturday Ground, a service that features five additional ground pickup and delivery days between Thanksgiving and Christmas. This service will add approximately 6,000 permanent, year-round jobs when fully implemented. Click Read More below for additional information.
Nosco Inc., a subsidiary of Holden Industries, has announced that it has acquired Gooding Company, a New York-based insert and outsert manufacturer with over 141 years of printing experience. Through the acquisition of Gooding, Nosco will add an additional manufacturing facility on the East Coast that will help reduce lead times, lower packaging costs and provide an expanded portfolio of folded literature. Gooding was established in 1876 in Lockport, N.Y. In 1990, the company was sold to current president, Jerry Hace. Under Hace's leadership, the company began focusing on enclosures for the medical and pharmaceutical industries, in addition to other markets. Click Read More below for additional information.
Smurfit Kappa is now working with 70% of leading European e-retail brands, the packaging solutions company said today as it announced the new name for its e-retail offering – eSmart. This is the culmination of years of experience helping e-retailers optimise opportunities in the online sales space. eSmart guides companies through 12 key areas relating to the optimisation of e-retail processes, supply chain efficiency and delivering a superior consumer experience. Edwin Goffard, COO Corrugated Europe, says: “As online sales grow and consumer expectations evolve in an increasingly digitalised world, the pressure is on for brand owners and e-retailers to stand out from the crowd. Packaging plays a vital role in helping businesses grow profitably, manage supply chain complexity, and deliver the right brand experience.” Click Read More below for additional information.
In our modern world, eliminating plastics is inconceivable. Unfortunately, they do have disadvantages, including the formation of CO2 in both production and combustion, depletion of fossil feedstocks, and growth of landfills. In the journal Angewandte Chemie, Russian researchers introduce a new way forward, a polymer made entirely from biomass that can easily and inexpensively be used in 3D printing. Objects produced in this way are of high quality, easily recyclable, and highly solvent-resistant. Conventional “subtractive” processes involve cutting, sawing, turning, or milling, which results in a great deal of wasted material. In contrast, 3D printing processes are, in principle, waste-free, because they are “additive”: three-dimensional objects are produced in a layer-by-layer application of material. The most common technique is called fused deposition modeling (FDM). In this process, the raw material is squirted through a hot nozzle onto a mobile base and thereby liquefied (extrusion). The printer head produces the programmed form like in a conventional two-dimensional printing process, releasing small amounts of the polymer instead of ink. This is repeated for layer after layer until the desired three-dimensional object is complete. Yet, the polymers used until now have a number of disadvantages that limit their use. Some of the polymers are attacked by organic solvents. Those that withstand the solvents, on the other hand, adhere poorly and shrink on heating, allowing their layers to come apart and causing errors in the printing process. Click Read More below for additional information.
The American Catalog Mailers Association, whose membership heavily relies on a properly-functioning postal system, urges the U.S. Senate to quickly consider and confirm the President’s new nominees to be U.S. Postal Service Governors. America’s postal system currently has no board – thus, no proper oversight. The ACMA has been instrumental in getting this important agenda item to the top of the priority list for a busy White House. In addition to our aggressive lobbying in Washington, the ACMA wrote a memo suggesting criteria and provided several strong candidates. We applaud the White House for moving this forward and are thrilled that nominations have been made. Click Read More below for additional information.
Three Z recently added a Goss M-500 to expand its printing operations. The M-500 is known for its proven technology and ability to deliver high print quality, efficiency and reliability at up to 40,000 impressions per hour. Affordability, straightforward design and versatility are all hallmarks of the M500. “Given Three Z’s extensive line of Goss equipment, the M-500 was a logical step to enhance their operations with a minimal learning curve for the staff,” explains Alexander Lutton, Goss Project Manager. “The features of this equipment will help to ensure that Three Z will remain one of the top commercial printers in the US.” Click Read More below for additional information.
Meredith Corporation announced that it will raise the rate base of quarterly magazine The Magnolia Journal to 1.2 million beginning with the Spring 2018 issue. "The Magnolia Journal has been one of the most successful launches in the history of the magazine industry," said Meredith Magazine President Doug Olson. "In just a year we've generated 1 million paid subscribers. On newsstands, The Magnolia Journal has averaged nearly a 70 percent sell-through rate, compared to the industry average of 25 percent. And advertisers are clamoring to be in its pages. The Magnolia Journal is a home run in every sense of the word." Click Read More below for additional information.
Effective with all new and existing orders with confirmed delivery dates of November 20, 2017 or later, Verso Corporation is increasing the transaction price of all Coated One Side (C1S) sheet and roll products by $2.00/cwt USD/$2.50/cwt CAD. This includes, but is not limited to: Sterling® Ultra C1S; Sterling® Litho C1S; Aspect®; OptiLabel™; UniSil™. The increase applies to all basis weights, bulks, finishes and related private label grades. Should you have any questions, please contact your Verso professional sales representative. Thank you for your continued support.
Total European shipments of graphic papers were UP 0.3% vs. August 2016 and are down 0.4% year-to-date. Total European shipments of newsprint were down 1.0% vs. August 2016 and are down 3.1% year-to-date. Total European shipments of sc-magazine were down 0.8% vs. August 2016 and are UP 1.7% year-to-date. Total European shipments of coated mechanical reels were down 0.6% vs. August 2016 and are down 1.0% year-to-date. Total European shipments of uncoated mechanical were UP 2.3% vs. August 2016 and are UP 2.0% year-to-date. Total European shipments of coated woodfree were UP 2.6% vs. August 2016 and are UP 1.6% year-to-date. Total European shipments of uncoated woodfree were UP 0.8% vs. August 2016 and are down 0.3% year-to-date. Click Read More below for additional information.
For the nine months ended September 30, 2017, the Company reported revenue of $724.1 million, down 0.2% year-over-year compared to $725.4 million for the same period in 2016. GAAP net income was $9.4 million or $0.20 per diluted share, compared to $25.0 million or $0.52 per diluted share for the same period in 2016. Non-GAAP net income was $74.0 million or $1.57 per diluted share, compared to non-GAAP net income of $80.5 million or $1.68 per diluted share for the same period in 2016. Cash flow from operating activities for the nine months ended September 30, 2017, was $42.4 million, down 24% compared to $55.8 million during the same period in 2016. "We are clearly disappointed in the third quarter results, which fell below our expectations largely due to delayed deals in our direct business," said Guy Gecht, CEO of EFI. "To reaccelerate growth, we are reallocating budget and talent toward our largest opportunities, in textile and packaging, along with making organizational changes and adding senior positions to improve focus and execution." Click Read More below for additional information.
Calvin R. Tucker of Pennsylvania, for the remainder of a term expiring December 8, 2023. Robert M. Duncan of Kentucky, for the remainder of a seven-year term expiring December 8, 2018, and an additional term expiring December 8, 2025. David Williams of Illinois, for the remainder of a seven-year term expiring December 8, 2019.
The electronics retailer, which has no physical presence in Massachusetts, says the state's demand that it collect and remit tax from online sales there is unconstitutional. Massachusetts officials want Crutchfield Corp. to fork over sales taxes for online transactions made their state, and the Virginia-based consumer electronics retailer is going to court over the request. Crutchfield, No. 190 in the Internet Retailer 2017 Top 500, on Tuesday filed a complaint in a Virginia court seeking a declaratory judgment to exempt it from Massachusetts’ efforts to collect sales tax for online transactions, despite the fact that Crutchfield has no physical presence there. Click Read More below for additional information.
Sears is bringing back its Wish Book holiday catalog after a six-year hiatus. "Our members told us they missed the Wish Book, so we had to bring it back, but in a special way that lets you share more joy wherever you are,” Kelly Cook, chief marketing officer for Hoffman Estates-based Sears and Kmart, said in a news release Wednesday. It came out almost every year — with a gap in 1993 and 1994 — until 2011, when Sears decided to focus on other holiday initiatives, Cook said. Wish Books varied in size, but they often topped 600 pages, she said. Click Read More below for additional information.
Net sales increased 34% to $43.7 billion in the third quarter, compared with $32.7 billion in third quarter 2016. Net sales includes $1.3 billion from Whole Foods Market, which Amazon acquired on August 28, 2017. Excluding Whole Foods Market and the $124 million favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 29% compared with third quarter 2016. Operating income decreased 40% to $347 million in the third quarter, compared with operating income of $575 million in third quarter 2016. Operating income includes income of $21 million from Whole Foods Market. Net income was $256 million in the third quarter, or $0.52 per diluted share, compared with net income of $252 million, or $0.52 per diluted share, in third quarter 2016. Click Read More below for additional information.
Third Quarter 2017 Summary: • Reported sales increased 6% over the prior year driven by 3% core growth and a 3% favorable impact from exchange rates • Each business segment achieved core sales growth • Lower custom tooling sales negatively impacted the sales growth by 2% • Reported net income (9% of net sales) increased to $54 million (+1%) • EBITDA (19% of net sales) decreased to $118 million (-4%) • Profit margins were negatively impacted by operational challenges at our decorative facility in Europe, higher professional fees, raw material cost increases and certain currency transaction losses. Click Read More below for additional information.
National Average Price for Regular – Current: $2.466; Month Ago: $2.571; Year Ago: $2.225. National Average Price for Diesel – Current: $2.738; Month Ago: $2.725; Year Ago: $2.422.
American Dollar to Canadian Dollar = 0.776214; American Dollar to Chinese Yuan = 0.150313; American Dollar to Euro = 1.161353; American Dollar to Japanese Yen = 0.008759; American Dollar to Mexican Peso = 0.051954.
Futures were little changed near $60 a barrel in London, up 2.6 percent for the week. The prince said Thursday that “of course” he wanted to prolong the curbs beyond the end of March 2018. OPEC is considering an exit strategy to avoid flooding the market once the agreement finally expires, people familiar with the talks said this week. Total SA’s Chief Executive Officer Patrick Pouyanne said the imbalance between crude supply and demand is finally dissipating. Brent has gained as speculation mounts the Organization of Petroleum Exporting Countries will agree at its Nov. 30 meeting to extend cuts by its members and allied nations aimed at draining a global glut. Click Read More below for additional information.
Domtar Corporation reported net earnings of $70 million ($1.11 per share) for the third quarter of 2017 compared to net earnings of $38 million ($0.61 per share) for the second quarter of 2017 and net earnings of $59 million ($0.94 per share) for the third quarter of 2016. Sales for the third quarter of 2017 were $1.3 billion. Operating income was $89 million in the third quarter of 2017 compared to operating income of $64 million in the second quarter of 2017. Depreciation and amortization totaled $80 million in the third quarter of 2017. The increase in operating income in the third quarter of 2017 was the result of higher volume and average selling prices, favorable productivity, and lower maintenance and raw material costs. These factors were partially offset by unfavorable exchange rates and higher selling, general and administrative expenses. Click Read More below for additional information.
J. C. Penney Company, Inc. provided a preliminary update on its expected third quarter performance, following actions taken during the quarter to accelerate the liquidation of inventory. The Company's fiscal third quarter ends Oct. 28. "Based on the encouraging results from a third quarter reset in women's apparel, which expanded our casual and contemporary offering, we made the strategic decision to accelerate a wider transformation of the entire women's department by clearing slow-moving inventory primarily in women's and other apparel categories. Following this comprehensive reset, we saw an improvement in performance, particularly in our women's division, confirming these actions were necessary to drive growth in our women's apparel business," said Marvin R. Ellison, chairman and chief executive officer for JCPenney. For the third quarter, the Company expects that comparable store sales will increase in the range of 0.6 % to 0.8 % and cost of goods sold, which excludes depreciation and amortization, will increase 300 to 320 basis points compared to the same period last year, impacted primarily by a greater sales penetration in major appliances and e-commerce and the decision to accelerate the liquidation of inventory. The Company expects third quarter adjusted earnings per share to be in the range of ($0.45) to ($0.40)1. Click Read More below for additional information.
Mercer International Inc. reported strong results for the third quarter ended September 30, 2017 as Operating EBITDA* increased by 34% to $64.0 million from $47.9 million in the same quarter of 2016 and by 64% from $39.1 million in the prior quarter. In the current quarter, net income increased to $21.1 million, or $0.33 per basic and $0.32 per diluted share, compared to net income of $11.9 million, or $0.18 per basic and diluted share, in the comparative quarter and a net loss of $2.1 million in the prior quarter. Mr. David M. Gandossi, the Chief Executive Officer, stated: "In the third quarter of 2017, pulp prices in Europe and North America increased as a result of continued steady demand and were generally flat in China compared to the prior quarter of 2017. Overall our average pulp sales realizations were approximately 2% higher in the third quarter of 2017 compared to the prior quarter of 2017. " Click Read More below for additional information.
Norbord Inc. reported Adjusted EBITDA of $200 million for the third quarter of 2017 versus $115 million in the third quarter of 2016 and $165 million in the second quarter of 2017. The improvement is primarily due to higher North American oriented strand board (OSB) prices and shipment volumes. North American operations generated Adjusted EBITDA of $184 million compared to $106 million in the same quarter last year and $157 million in the prior quarter. European operations delivered Adjusted EBITDA of $14 million versus $10 million in the same quarter last year and $9 million in the prior quarter. "Our third quarter performance continued to accelerate and we delivered our best Adjusted EBITDA result in 13 years," said Peter Wijnbergen, Norbord's President and CEO. "In North America, our shipment volumes increased 5% and benchmark OSB prices were 36% higher year-over-year due to already strong OSB demand that was pushed even further by the hurricanes in the US south. In Europe, our financial performance is back on track as improved panel prices outpaced the currency translation headwind from the weaker Pound Sterling and the negative impact of higher resin prices." Click Read More below for additional information.
Sales of adult trade book rose 3.1% in the first six months of 2017, over the comparable period last year, according to figures released Thursday morning by the Association of American Publishers as part of its StatShot program. Sales of children’s/young adult books increased 4.5% over the first half of 2016. The largest sales increase in the period came in the higher educational course material segment, where sales were up 11.2%; the category had a soft 2016, with sales for the year dropping 12.6%. The religious press segment was the only category where sales fell in the most recent six-month period, declining 3.8%. Click Read More below for additional information.
Stein Mart, Inc. announced that it has instituted cost reductions expected to total savings of approximately $10 million (pre-tax) in 2018 including the elimination of approximately 10 percent of its corporate office headcount. These actions are part of the Company's ongoing efforts to control costs and simplify its business processes in this highly competitive retail environment. Most of the other cost reductions are also at the corporate headquarters. Today's announcement is in addition to tight expense controls and other steps the Company has taken this year to strengthen its financial position, including: •Lowering inventories by 15 percent •Reducing capital expenditures by $22 million over the prior year •Suspending the quarterly dividend ($14 million annual savings). Click Read More below for additional information.
The increase in the Company's cost and expense structure has lagged inflation due to productivity gains and the focus on cost discipline. Our commitment to financial discipline is reinforced by the reductions in both gross and net debt, as well as by significant lengthening of our amortization profile (from 62 to 80 months). The leverage ratio remains at a healthy level (2.3x Net Debt/Adjusted EBITDA) and the total average debt cost remains competitive (4.4% p.a. in USD). The Adjusted EBITDA² of R$1.041/ton and strong Cash Generation¹ of R$795/ton were other metrics in which we outperformed the overall industry. The ROIC of 13.0% reflects the positive impact from pulp prices, as well as from cost and expense discipline and the margin recovery in the paper segment. Click Read More below for additional information.
Publishers’ revenues (sales to bookstores, wholesalers, direct to consumer, online retailers, etc.) were $5.72 billion - up by $195.9 million (3.5%) for the first half of 2017 compared to the same period in 2016. Tracked categories include: Trade - fiction/non-fiction/religious, PreK-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses. Revenue for Trade Books grew by 3.0%, with revenue increases in both Adult Books and Childrens/YA books over 2016. “What a testament to the importance of the publishing industry,” said Maria A. Pallante, President and CEO, Association of American Publishers. “Whatever the category, format or distribution platform, books remain a constant in the marketplace and in our lives.” Click Read More below for additional information.
Wisconsin printing company Quad/Graphics Inc. will shut down its plant in Waseca, Minn. KSTP reports on the announcement by Quad/Graphics, which said that about 30 employees at the 365-person plant would stay on to support area clients, but the bulk of the plant's work will be shifted elsewhere in the country. Click Read More below for additional information.
Consolidated net sales of $868 million in the third quarter of 2017 were $92 million, or 12 percent higher than the 2016 third quarter. This increase was due to $57 million of higher prices and a more favorable product mix, and higher volume in the paper and packaging segment. Net sales in the distribution segment increased $8 million due to higher prices partially offset by lower volume. The Company's average mill selling price of $698 per ton in the third quarter of 2017 increased by $72 per ton, or nearly 12 percent, compared to the third quarter of 2016 due to higher domestic and export containerboard prices, and higher kraft paper prices. Net income of $30 million for the 2017 third quarter was $1 million lower than the 2016 third quarter. Click Read More below for additional information.
Compared to third quarter guidance, results were negatively impacted by ($.02) per share due to hurricane-related items at certain mills and corrugated products facilities, offset by a partial insurance recovery related to the DeRidder Mill incident of $.02 per share. In the Packaging segment, total corrugated products shipments with two less workdays were up 4.0% and shipments per day were up 7.3% over last year’s third quarter. Containerboard production was 996,000 tons, and containerboard inventory was up 7,000 tons compared to the third quarter of 2016 and up 20,000 tons from the second quarter of 2017. In the Paper segment, lower volumes in the third quarter of 2017 compared to last year were primarily due to the previously announced shutdown of market pulp operations at the Wallula Mill. Click Read More below for additional information.
"Our comparable net sales growth returned to 4% during the third quarter. In emerging markets comparable growth was 5% despite net sales still declining in India. At the end of the quarter our net sales in India started to grow again as the demand for flexible packaging began to recover from the impact of Goods and Services Tax (GST) implementation. Our profitability remained at a solid level but was affected by higher costs especially in the North America segment. In addition to costs related to major on-going investments the segment's distribution and resin costs were higher due to hurricane impact. The Foodservice Europe-Asia-Oceania segment's profitability held up well despite adverse product mix and the impact of weaker pound sterling on our UK business. The Flexible Packaging segment's net sales growth accelerated at the end of the quarter." Click Read More below for additional information.
U.S. Packaging net sales of $672.3 million for the third quarter of 2017 represented an increase of 2.2 percent compared to the same period of 2016. Compared to the prior third quarter, unit volumes were up approximately two percent. U.S. Packaging operating profit decreased to $99.6 million in the third quarter of 2017, or 14.8 percent of net sales, compared to $100.8 million, or 15.3 percent of net sales, in 2016. Compared to the prior year, profits were impacted by previously-negotiated contractual selling price reductions on select products, partially offset by manufacturing efficiencies and the benefits of increased unit volumes. Global Packaging net sales of $362.8 million for the third quarter of 2017 represented a decrease of 1.8 percent compared to the same period of 2016. Currency translation increased net sales by 0.5 percent. Organic sales decline of 2.3 percent reflects unfavorable mix of products sold, partially offset by sales price increases. Compared to the prior third quarter, Global Packaging unit volumes were relatively flat, comprised of weak volumes in the Company’s Latin American business, as anticipated, and offset by net volume growth in the remaining regions of the Global Packaging Segment. Global Packaging operating profit for the third quarter was $24.6 million, compared to $36.2 million for the same period in 2016. Compared to the prior year, lower profits in Global Packaging were driven primarily by the impact of the challenging economic environment in Brazil. Click Read More below for additional information.
Looking more closely at Meredith's fiscal 2018 first quarter compared to the prior-year period: •Local Media Group revenues were $154 million, operating profit was $41 million and EBITDA was $49 million, all record highs for a non-political first quarter. Non-political advertising revenues increased 4 percent to $88 million, led by growth in the Atlanta, Phoenix and St. Louis markets. Digital advertising revenues grew 14 percent. Other revenues increased 24 percent, primarily due to growth in retransmission-related revenues. •National Media Group revenues were $239 million. Operating profit grew 17 percent to $28 million. Excluding the special item in the first quarter of fiscal 2018, operating profit grew 4 percent to $25 million, driven primarily by lower operating expenses in Meredith's magazine business. Circulation revenues grew slightly compared to the prior-year period. •Total Company digital advertising revenues were a fiscal first quarter record. Traffic across Meredith's digital properties increased to 83 million average monthly unique visitors. National Media Group digital advertising revenues accounted for 30 percent of National Media Group advertising revenues. Click Read More below for additional information.
American Forest & Paper Association President and CEO Donna Harman issued the following statement regarding the Massachusetts Senate Bill 424, “Act Reducing Plastic Bag Pollution.” The bill seeks to place a 10-cent tax on recycled paper bags beginning on August 1, 2018. “This bill, intended to reduce plastic pollution, wrongfully penalizes paper bags—a commodity that is highly recycled, recyclable, compostable and made from a renewable resource. Unfortunately, this is a missed opportunity to differentiate paper bags as an environmentally responsible option. Paper bags are a sustainable packaging option for consumers who need carryout bags. “This policy takes Massachusetts in the wrong direction and sets a poor example for the region. AF&PA looks forward to continuing to work with the state of Massachusetts on this provision.”
Futures were little changed in New York after falling 0.6 percent on Wednesday. Prince Mohammed said in an interview with Bloomberg News in Riyadh that "of course" he wanted to extend OPEC’s production cuts in 2018, making it all but certain the group and its allies will roll over the curbs at a meeting next month. Oil is holding gains above $50 a barrel as speculation mounts that supply curbs by members of the Organization of Petroleum Exporting Countries and its allies including Russia will be prolonged when they meet in Vienna on Nov. 30. In Iraq, the state oil company is working with a Kurdish firm to resume pumping at two disputed fields after government troops recaptured them from Kurdish forces. Click Read More below for additional information.
Glatfelter announced that its Advanced Airlaid Materials Business Unit (AMBU) was recently recognized for exemplary core values and excellent service by Rockline Industries during their annual State of Rockline strategic supplier event in Sheboygan, Wisconsin on October 4, 2017. The Supply RRITE Award recognizes the supplier that best demonstrates the Rockline core values of Renew, Respect, Integrity, Teamwork and Excellence. Rockline is one of the world’s largest private-label manufacturers of coffee filters and consumer, medical and commercial wet wipes. Glatfelter supplies Rockline with airlaid materials manufactured at its facility in Gatineau, Quebec, Canada. Glatfelter also manufactures airlaid materials in its Falkenhagen, Germany facility, and is planning to be operational with its first U.S. airlaid facility in Fort Smith, Arkansas by early 2018. Click Read More below for additional information.
Highlights first 9 months 2017 (vs. first 9 months 2016): * Paper volume hits new record level of 1 158 thousand tons (up 3 thousand tons), with average price still lower than last year * Turnover up +5% with strong performance in pulp, energy and tissue business: − Pulp sales grow 32% in value, with volume and price both rising − Power sales up 16%, reflecting successful operation of power generation assets − Tissue sales grow by 11% in volume and value * EBITDA of € 300 million in line with previous year and EBITDA/sales margin of 25% (vs. 26%). Click Read More below for additional information.
Kohl’s announced it was honored with a SmartWay® Excellence Award from the U.S. Environmental Protection Agency (EPA) as an industry leader in freight supply chain environmental performance and energy efficiency. Kohl’s was one of 62 companies to receive this distinction, representing the best environmental performers of SmartWay’s 3600 Partners. The Excellence Awardees were honored at the American Trucking Associations Management & Exhibition Annual Conference held in Orlando, Florida on October 23, 2017. Click Read More below for additional information.
Allen Press, Inc. is pleased to announce that Paula Gibbs has been promoted to Sales Executive. Gibbs joined Allen Press in February 2017 as an Account Manager. As Sales Executive, Gibbs will lead sales efforts in the eastern Kansas region, including Lawrence, Kansas City, Topeka and Manhattan. Gibbs will work closely with the Allen Press marketing and operations teams with a focus on growing digital printing, direct mail and marketing communications services. “It’s our goal to be a printing, direct mail and marketing leader in Lawrence and the surrounding areas. Paula is a natural fit to build community relationships and to help local businesses grow,” said Maria Preston-Cargill, Allen Press Senior Vice President of Sales and Marketing. “Paula’s experience in multiple areas of the industry and her enthusiasm for printing will serve her and her customers well as she takes on this new role.” Click Read More below for additional information.
We are pleased that practically all stakeholders targeted in the consent solicitation process are supporting for a consensual recapitalization of the current Norske Skog group. We will now spend time to ensure the registration and documentation of formal support for the recapitalization occurs. Equally important, we will do our outmost to obtain the support to the recapitalization from the holders of the NSF and the 2115 Perpetual Notes holders," said Mr. Christen Sveaas, Chairman of Norske Skogindustrier ASA. Regardless of the outcome of the recapitalization process, the business operations at our seven paper mills will continue as normal. Click Read More below for additional information.
Monadnock Paper Mills announced that Dawn Soucek has joined the company's sales and marketing team as a Senior Technical Sales Manager. Soucek is a proven business development professional with extensive experience in technical/specialty papermaking. For over 11 years, she was responsible for developments in specialty barriers and packaging at Verso Specialty Papers. “Dawn will represent Monadnock from her home base in Stevens Point, Wisconsin. We are looking forward to growing our presence in the mid-west region of the United States where there are significant growth opportunities for Monadnock's technical/specialty papers,” said Brendan Lesch, vice president of sales and marketing at Monadnock. “Dawn's background in packaging, chemistry and applied sciences will help us accelerate the development and customization of new products.”
Technology has the ability to move boundaries and change how certification operates. Helping us to kick-start the PEFC Stakeholder Dialogue will be Sarah Crow from the American Forest Foundation, as she showcases the innovative ‘Forests in Focus’. To find out more, make sure you register to join us in Helsinki on 16-17 November, but in the meantime, here’s what Sarah has to say: What is your view of the potential of innovation and technology within forest certification? “I believe innovation is central to our success. In our experiences with forest certification, we have learned a huge amount about what customers, landowners, stakeholders, conservation partners and others are seeking.” Click Read More below for additional information.
AWPPW Local 675 and WestRock will be returning to the bargaining table November 6 and 7 to resume negotiations after union members rejected the Company's initial offer for a new Labor Agreement by 94%. Major items cited by the Union as causes for the overwhelming rejection by the membership include proposed seniority changes, increased medical cost, elimination of premium pay provisions and maintenance redesign. AWPPW Local President Bob Booth says "While the WestRock Covington mill consistently produces huge profits every year, WestRock refuses to treat the workforce fairly. No matter how dedicated and hardworking we all are and no matter how much money we make for WestRock the company wants concessions." Click Read More below for additional information.
Net income decreased 54% to $414 million and diluted earnings per share declined 52% to $1.61 as a result of the prior period benefiting from a pre-tax gain of $722 million on the sale of J.D. Power. Adjusted net income increased 16% to $442 million and adjusted diluted earnings per share increased 19% to $1.71. The adjustments in the third quarter of 2017 were for deal-related amortization and restructuring. Both net income and adjusted net income benefited from an accounting change associated with the recognition of excess tax benefits from stock-based compensation in 2017. "The underlying environment for our businesses is healthy with an improving global GDP, higher commodity prices, strong equity markets, and modest growth in U.S. bond issuance. With this backdrop, our Company is thriving as all of our business segments contributed solid organic revenue and adjusted operating profit growth during the quarter," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. "We continue to focus on delivering meaningful revenue growth, launching new products, investing in productivity, and returning capital to shareholders." Click Read More below for additional information.
Transcontinental Inc.'s Media Sector, TC Media, announced the sale of its Sorel-Tracy-based weekly Les 2 Rives, as well as its related web property, to DBC Communications inc., a company led by its president, Mr. Benoit Chartier, also owner of the following newspapers: L'Oeil Régional, Le Clairon de Saint-Hyacinthe, La Pensée de Bagot, Gestion et Technologies Agricoles and Le Courrier de Saint-Hyacinthe, the longest-running French-language newspaper in America. The 8 employees of this newspaper are transferred to the acquirer. The Corporation would like to thank them for their professionalism and wishes them the best for the future. Furthermore, TC Transcontinental will continue to provide printing and distribution services as it already does for the other publications of the acquirer. This transaction is part of the process for the sale of TC Media's local and regional newspapers in Québec and Ontario, which was made public in a press release issued by Transcontinental Inc. on April 18. It is the second transaction between TC Media and DBC Communications since the beginning of the year. The first transaction was DBC Communications' acquisition of the assets and activities of L'Oeil Régional in Beloeil in March. We also note that the two companies have a long-standing business relationship dating back to 1979 when TC Transcontinental had acquired the Saint-Hyacinthe printing plant from the Chartier family.
• Revenue increased 8.5% year-over-year, driven by Small Business Services which grew 2.5% and includes the results of several small tuck-in acquisitions and from growth in Financial Services of 28.0% driven by the results of FMCG Direct and Data Support Systems, which were acquired in the fourth quarter of 2016 and RDM Corporation, which was acquired in April 2017. • Revenue from marketing solutions and other services increased 30.2% year-over-year and grew to 40.2% of total revenue in the quarter. • Gross margin was 61.2% of revenue, compared to 63.8% in the third quarter of 2016. The impact of acquisitions and increased delivery and material costs this year were only partially offset by previous price increases and continued improvements in manufacturing productivity. • Selling, general and administrative (SG&A) expense increased 2.4% from last year primarily due to additional SG&A expense from acquisitions which was partially offset by continued cost reduction initiatives in all segments. SG&A as a percent of revenue was well leveraged at 40.8% in the quarter compared to 43.2% last year. Click Read More below for additional information.
For the total company in 3Q 2017: ◦Revenue increased 7.0%, and currency-neutral revenue* was up 7.1%. ◦Revenue increased in all segments and major product categories, as expanded customer demand spread across the company’s broad product portfolio. ◦Operating profit was $2.0 billion, driven by strong performance in the International and Supply Chain and Freight segments. ◦Year-to-date capital expenditures were $3.7 billion, supporting our investment strategies. Click Read More below for additional information.
The U.S. Postal Service will deliver more than 15 billion pieces of mail this holiday season. In the period between Thanksgiving and New Year’s Day, the Postal Service also expects to deliver 850 million packages, which is more than a 10 percent increase compared to the same period last year. “The Postal Service is well prepared to meet our customers’ needs during the holiday season, especially as demand for package deliveries continues to grow,” said Megan J. Brennan, Postmaster General and CEO. The Postal Service will be expanding its Sunday delivery operations to locations with high package volumes beginning Nov. 26. The Postal Service already delivers packages on Sundays in most major cities, and anticipates delivering more than 6 million packages on Sundays this December. Mail carriers will also deliver packages on Christmas Day in select locations. Click Read More below for additional information.
“We posted another solid quarter of earnings, margins, and cash flow in line with our expectations, supported by our on-going Strategic Transformation initiatives,” said Jeff Jacobson, Xerox chief executive officer. “Revenue decline improved sequentially which we expect to carry through the rest of the year.” Jacobson added, “All 29 of our new ConnectKey®-enabled office products are now available and shipping to large and small customers around the globe; momentum is building, as expected, entering the last quarter of the year.” The company delivered third-quarter 2017 GAAP earnings per share (EPS) from continuing operations of 67 cents, up 1.5 percent year-over-year. Adjusted EPS was 89 cents, up 6.0 percent year-over-year, and excludes 22 cents per share of after-tax costs related to the amortization of intangibles, restructuring and related costs, and certain retirement-related costs. Revenues were $2.5 billion in the quarter, down 5.0 percent or 5.9 percent in constant currency. Post sale revenue was 79 percent of total revenue. Click Read More below for additional information.
U.S. Paper Converters Inc. announced Monday it's shutting down its Appleton facility, leaving more than 50 people without a job. It's the latest in a series of devastating closures and layoffs from paper companies in the Fox Valley. Prior to this, Appleton Coated announced it was in receivership before being sold to a liquidation company. Hundreds of people were laid off, and many are trying to find work through the Bay Area Workforce Development Board. Some of those laid off employees said they know exactly how the U.S. Paper Converters employees feel. Click Read More below for additional information.
Mohawk is announcing a price increase of approximately 2.0% on Fine Papers effective with orders taken on December 4, 2017. Please see the attached list for grade specific details. All Fine Paper envelopes will increase by approximately 1.5%. This price increase applies to all contracts and promotions, within agreed upon terms, which have grades included in this announcement. Also note that manufacturing orders for these papers on file with Mohawk prior to December 4, but shipping after that date, will retain the agreed upon price.
We are announcing a US$30/metric tonne (for 48.8 gsm) newsprint price increase to be phased in over two months. The price will increase US$15/metric tonne (for 48.8 gsm) effective with shipments on or after December 1, 2017 and a second US$15/metric tonne (for 48.8 gsm) increase will be implemented with shipments on or after January 1, 2018. Other basis weights will be adjusted accordingly. Please note that this price increase does not apply to Ponderay Newsprint Company.
Sappi North America announces a US$2.00/cwt transactional price increase on new and unconfirmed orders that book with confirmed delivery dates on or after Monday, November 20, 2017 on the following packaging products: LusterCote (all basis weights). Please note that all new orders must be confirmed a minimum of 10 days prior to the commencement of the production run.
The New York Times Company announced today that it has entered into agreements with Massachusetts Mutual Life Insurance Company (MassMutual) to transfer pension benefits and annuity administration for approximately $225 million in pension obligations. The agreements relate to two of the Company’s pension plans, The New York Times Company's Pension Plan and The Retirement Annuity Plan for Craft Employees of The New York Times Company. Under the agreements, these pension plans will purchase group annuity contracts from MassMutual for approximately 3,800 retirees (or their beneficiaries). The group annuity contracts include an irrevocable commitment by MassMutual to make annuity payments to the affected retirees. All other retirees will continue to receive monthly benefit payments from the plans. The agreements will transfer the payment administration and obligations to this highly rated insurance company with a long history of efficiently providing annuity benefits. This arrangement is part of the Company’s continued effort to manage the overall size and volatility of its pension plan obligations, and the administrative costs related thereto. Click Read More below for additional information.
Third Quarter Highlights: • Total loans grew $6.9 billion (9%) from the prior year to $80.4 billion. • Credit card loans grew $5.5 billion (9%) to $63.5 billion and Discover card sales volume increased 5% from the prior year. • Total net charge-off rate excluding PCI loans increased 61 basis points from the prior year to 2.71% and the total 30+ day delinquency rate excluding PCI loans increased 26 basis points from the prior year to 2.05%. • Consumer deposits grew $3.4 billion (10%) from the prior year to $38.7 billion. Click Read More below for additional information.
Adjusted operating earnings in the third quarter of 2017 were $449 million or $1.08 per share compared with $270 million or $0.65 per share in the second quarter of 2017 and $380 million or $0.91 per share in the third quarter of 2016. Quarterly net sales were $5.9 billion in the third quarter of 2017 compared with $5.8 billion in the second quarter of 2017 and $5.3 billion in the third quarter of 2016. The year-over-year revenue increase was primarily due to the pulp business that was acquired in late 2016. Business segment operating profits in the third quarter of 2017 were $707 million, compared with $129 million in the second quarter of 2017 and $613 million in the third quarter of 2016. The second quarter of 2017 includes the impact of the Kleen Products settlement. Click Read More below for additional information.
We delivered a strong quarter, with earnings above our expectations,” said Mitch Butier, Avery Dennison President and CEO. “LGM’s organic growth rate rebounded, as expected, and margin remained strong; RBIS delivered another great quarter, with continued strong sales growth and margin expansion; and IHM delivered solid organic sales growth while integrating two recently completed acquisitions. “We raised our guidance for full-year earnings per share, reflecting our better than expected operating results,” said Butier. “The effective execution of our strategies continues to enhance our competitive advantage, driving profitable growth and higher returns.” Click Read More below for additional information.
Q3/2017 (year-on-year): Sales of EUR 2 509 (EUR 2 393) million increased 4.8%: the third consecutive quarter of sales growth. Sales excluding the paper business increased 11.1%. Operational EBIT increased 32.4% to EUR 290 (EUR 219) million. This was mainly due to favourable sales prices and increased volumes from the recent strategic investments, and good cost management. The ramp-up of Beihai Mill continues to proceed ahead of plan, and it is expected to reach full production during the first half of 2018, and operational EBITDA break-even in Q4/2017. Q1–Q3/2017 (year-on-year): Sales at EUR 7 534 (EUR 7 364) million increased 2.3%. Sales excluding the paper business increased 9.2%. Operational EBIT at EUR 724 (EUR 693) million increased 4.5%, mainly due to higher volumes. Click Read More below for additional information.
Stora Enso will invest EUR 94 million to grow in renewable materials and to increase competitiveness in consumer board and biomaterials. EUR 52 million will be invested to increase the dissolving pulp production capacity at Enocell Mill and EUR 42 million to enhance the availability of the chemi-thermomechanical pulp (CTMP) at Imatra Mills. Both mills are located in Finland. Enocell Mill, part of the Biomaterials division, will be converted to focus entirely on production of dissolving pulp. The softwood pulp production will be gradually discontinued after the investment. The mill will have a total capacity of 430 000 tonnes dissolving pulp annually, whereof 185 000 tonnes hardwood and 245 000 tonnes softwood dissolving pulp. The investment is scheduled to be completed during the second half of 2019. It is expected to exceed the Biomaterials division’s profitability target, operational return on operating capital (ROOC) of 15%, and to have a positive impact on sales. The investment at Imatra Mills, part of the Consumer Board division, includes a new CTMP drying and re-pulping plant as well as extension of the pulp warehouse. This aims to enhance the availability of CTMP and to drive the commercialisation of micro-fibrillated cellulose (MFC). Due to its high strength and 100% renewable raw materials, MFC is designed to outperform fossil-based materials, such as plastics, in a variety of applications. The project is scheduled to be completed in the first half of 2019. The investment is expected to exceed the Consumer Board division’s profitability target, operational return on operating capital (ROOC) of 20%, and to have a marginal impact on sales. Click Read More below for additional information.
UPM has been positioned on this year's A List for water and forests by CDP, the non-profit global environmental disclosure platform. CDP's A List comprises companies from around the world that have been identified as leading in their efforts and actions to combat environmental risk in the past CDP reporting year. Of the companies that submitted information, UPM is one of the only four companies to score an A on both water and forests. "UPM is committed to the internationally accepted principles of sustainable forest management and to minimise the negative impacts of its operations on water resources," says Tuomas Niemi, Manager, UPM Environment and Responsibility. "We aim to maximise our total contribution to society by creating long-term profitable business with responsible practises embedded into our operations and value-chain", Niemi continues. Click Read More below for additional information.
CEO comments, Jan Åström: “We achieved strong organic growth of over five percent in the quarter and were able to maintain our operational result despite the accelerated cost inflation in some of our key raw materials. Our performance was once again led by excellent results in the Filtration & Performance, and Industrial Solutions business areas. We will continue to work on our pricing to mitigate the cost pressure and address the challenges in the coated one-sided papers business. The integration work following the merger is gaining momentum as we achieved an annual run rate of about EUR 17 million in synergy benefits by the end of the quarter. We are now fully comfortable that we can exceed the original target of EUR 35 million and estimate that annual synergy benefits of above EUR 40 million can be reached by the second quarter of 2019. Click Read More below for additional information.
Please be advised we will be increasing the US market price of our newsprint on a 45 gsm basis by $US 32/MT effective with shipments December 1, 2017. 43 gsm and 40 gsm Marathon lite newsprint will be increased according to past practice.
Södra’s port in Mönsterås, Sweden, will become completely free from fossil fuels in October. All work vehicles and cranes at the port will begin using Hydrotreated Vegetable Oil (HVO) diesel – a completely fossil-free alternative to standard diesel, as the company says in the press release received by Lesprom Network. Södra’s port has four cranes and 16 work vehicles. Together, these handle about 3 million tonnes of freight each year. The freight is loaded for transport to Europe by land and sea and includes 430,000 tonnes of paper pulp and 170,000 cubic metres of sawn timber. This will now be carried out using only fossil-free HVO diesel. The switchover at the port began in the spring of 2017 and was completed at the end of September. The move is part of Södra’s sustainability targets that aim to achieve fossil-free production by 2020 and fossil-free transportation by 2030 – targets adopted in 2016 and assigned the same status as Södra’s financial targets. Click Read More below for additional information.
The market “looks a lot more bullish than it did three or four months ago,” said James Williams, president of London, Arkansas-based energy researcher WTRG Economics. The stockpile declines aren’t surprising since “refinery utilization is coming down this time of year because it’s turnaround season,” he said. Nonetheless, he predicted prices will rally again Wednesday if the government confirms the drops. The Organization of Petroleum Exporting Countries is expected to extend supply cuts beyond their March expiration date, which has supported oil above the key $50-a-barrel psychological threshold. In addition, oil demand is proving more resilient than some expected, Saudi Arabia’s Minister of Energy and Industry Khalid Al-Falih said in Riyadh. Stockpiles at Cushing, Oklahoma, the delivery point for New York-traded futures contracts, probably declined by 500,000 barrels, according to a separate forecast compiled by Bloomberg. A Bloomberg survey estimated that U.S crude stockpiles slid by 3 million barrels last week, while gasoline stockpiles probably rose by 1.7 million barrels. The API report also showed crude stockpiles rose by 519,000 barrels, while Cushing supplies fell by 55,000 barrels last week. A draw at Cushing would be the first since August if the Energy Information Administration confirms it in its data release on Wednesday. Click Read More below for additional information.
When it comes to honoring an anniversary as big as Harper’s BAZAAR’s 150th, Editor-in-Chief Glenda Bailey knew one celebration simply wasn’t enough. In fact, the magazine—which will officially turn 150 years old on November 2 of this year—has been celebrating for most of 2017. The culmination of these festivities reveals itself with an entirely redesigned November issue that hits newsstands today. “My mission is to create a party that everyone is invited to,” Bailey said, and the BAZAAR anniversary year has embodied the legendary style of the magazine. In April, the Empire State Building lit up with iconic images from the pages of Harper’s BAZAAR. That same month, the magazine’s history unfolded in Bailey’s new book Harper’s BAZAAR: 150 Years: The Greatest Moments. “I am a great believer in having a party every day, so naturally when it came to our anniversary, we decided to celebrate the whole year,” Bailey said. “One issue just isn’t enough when you have a history as illustrious as Harper’s BAZAAR's.” Click Read More below for additional information.
“Heidelberg’s Coating Days are the most efficient way for Heidelberg to share expertise aimed at further optimizing the productivity of coating applications in conventional, UV, and LED jobs,” says Bernhard Steinel, Head of the Lifecycle Solutions Business Unit at Heidelberg, in summarizing the event’s benefit. For the seventh time in succession, Heidelberger Druckmaschinen AG (Heidelberg) welcomed printers and production managers from France, Germany, Benelux, Eastern Europe, Austria, and Switzerland to benefit from additional expertise in relation to coating applications. Around 120 attendees came this year to the exclusive four-day learning event, which was held from 15 to 19 September in Wiesloch-Walldorf. The event focused on the Heidelberg Saphira range of LED coatings for matt, gloss, and drip-off applications as well as a relief coating application, where comparable coating amounts are applied using screen printing. Click Read More below for additional information.
Kruger officially dedicated Paper Machine No. 10 (PM10), which was completely rebuilt to manufacture 100% lightweight and high-strength linerboard at its Trois-Rivières Mill. Several dignitaries and project partners were present, including Luc Blanchette, Minister of Forests, Wildlife and Parks; Julie Boulet, Minister of Tourism ad Minister responsible for the Mauricie region; Jean-Denis Girard, MNA for Trois-Rivières; and Gene Kruger, Vice President, Business Development, Kruger Inc. Kruger invested $250 million in this project to completely rebuild PM10 for optimal results. Well before work got under way, Kruger’s engineers toured numerous manufacturing plants in North America and Europe to find the best technology for manufacturing 100% recycled lightweight and high-strength linerboard of the best possible quality. Commercialized as XTR, the new linerboard grades manufactured on PM10 meet increasing demand for ultra-light packaging without compromising on strength, performance or environmental footprint. Click Read More below for additional information.
Can you build a house overnight? Can it be beautiful, stylish and sustainable? The answer is yes – as the thousands of visitors to Helsinki Design Week can testify! For the fourth edition of PEFC Wood Works, PEFC Finland teamed up with architect and environmental artist Marco Casagrande to showcase the future of living to the people of Helsinki. As cities become more densely populated, we must find more agile ways to build, and live in, new housing solutions. In the center of Helsinki, PEFC Wood Works x Tikku constructed a micro-size apartment house on just one parking slot in just one night. Tikku (‘stick’) is a demonstration of dense urban housing and Finnish wooden construction. Even better, all the wood used in the installation comes from sustainably managed, PEFC-certified, forests. Click Read More below for additional information.
Monadnock Paper Mills, Inc. (MPM), a family-owned manufacturer that delivers high-performance specialty papers for the technical, packaging and printing markets, today announced its Kona® portfolio of packaging substrates that is made with non-wood fiber from used burlap bags diverted from the landfill. Monadnock entered an exclusive licensing agreement with Arch Paper LLC and Whiting Paper Company for the production of a range of Kona paper and board products. Under a patented process, Monadnock is incorporating reclaimed burlap coffee bean bags into a variety of print and packaging substrates for the retail and hospitality markets. The roasted shades and variegated fibers impart a beautiful and natural aesthetic that is smooth to the touch and pleasing to the eye. Monadnock's Kona line includes stocks for hang tags, price tickets, folding boxes and wet-strength labels. They are all Forest Stewardship Council Certified and are manufactured carbon-neutral using Green-e certified renewable electricity. Click Read More below for additional information.
"Q3 marked an important milestone for the company as we substantially completed the platform consolidation and the restructuring announced earlier this year in February," said Christopher North, President and Chief Executive Officer. "Now, Shutterfly, TinyPrints, and our Weddings business - representing the overwhelming majority of our Consumer customers - are on a single technical platform. Combined with our streamlined cost structure and sharpened focus, we're in a strong position to execute against our growth plan going forward." "Our Shutterfly brand and Shutterfly Business Solutions performed well in Q3. We continue to make good progress against our areas of strategic focus while maintaining strong cost control, and also closed a $500 million credit facility. And we're ready for the fourth quarter with a beautiful selection of holiday products for both Shutterfly and TinyPrints customers, and having significantly improved customer experiences both on the web and in our mobile app." Net revenues totaled $195.4 million, a 4% year-over-year increase. Consumer net revenues totaled $135.4 million, a 6% year-over-year decrease as anticipated, as we migrated TinyPrints customers to the Shutterfly Platform, and shut down Wedding Paper Divas in the quarter and MyPublisher earlier in the year. Shutterfly Business Solutions net revenues totaled $60.0 million, a 39% year-over-year increase. GAAP Operating loss totaled $35.8 million and Net loss was $25.6 million or $0.78 per share. Click Read More below for additional information.
The Bon-Ton Stores, Inc. announced that it has amended its $880 million ABL Tranche A and Tranche A-1 credit facility, providing the Company with immediate flexibility and substantial additional liquidity under its current credit facility. Nancy Walsh, Bon-Ton's Executive Vice President and Chief Financial Officer, commented, "We are pleased with this amendment which immediately provides us with additional liquidity cushion and strengthens our financial flexibility through the holiday season. We appreciate the ongoing support of our bank group as our team continues to execute key operational and financial initiatives focused on positioning the business for both near- and long-term profitable growth." Click Read More below for additional information.
Net sales for the third quarter of 2017 were $1.27 billion, an increase of $127.3 million, or 11.2 percent, as compared to $1.14 billion in 2016. This increase was the result of higher net sales in the closures business due to the acquisition of the Dispensing Systems operations in April 2017 as well as in the plastic container business, partially offset by lower net sales in the metal container business. Income from operations for the third quarter of 2017 was $138.6 million, an increase of $16.2 million, or 13.2 percent, as compared to $122.4 million for the third quarter of 2016, and operating margin increased to 10.9 percent from 10.7 percent for the same periods. The increase in income from operations was the result of higher income from operations in the closures business due to the benefit from the acquisition of Dispensing Systems as well as in the plastic container business, partially offset by lower income from operations in the metal container business. Rationalization charges were $0.6 million and $7.8 million in the third quarters of 2017 and 2016, respectively. Click Read More below for additional information.
Fiscal 2017 highlights: •GAAP diluted net earnings per share decrease 1.0 percent from the prior year, to $3.78; Adjusted diluted net earnings per share increase 11.1 percent to $5.10, up 12.9 percent on a constant currency basis •GAAP net earnings attributable to Walgreens Boots Alliance decrease 2.3 percent, to $4.1 billion; Adjusted net earnings attributable to Walgreens Boots Alliance increase 9.9 percent to $5.5 billion, up 11.6 percent on a constant currency basis •Sales increase 0.7 percent to $118.2 billion, an increase of 3.3 percent on a constant currency basis •GAAP operating income decreases 7.4 percent to $5.6 billion; Adjusted operating income increases 4.6 percent to $7.5 billion, up 6.5 percent on a constant currency basis. Click Read More below for additional information.
In light of the global market situation for graphic papers, and to sustain its competitiveness and leading position in the market, UPM Paper ENA plans to: • optimize operations at its UPM Nordland Papier and UPM NorService units in Dörpen, Germany, Europe's biggest fine paper site. Streamlining internal processes and investing in automation will enable a sustainable improvement of the fixed cost structure. • permanently close paper machine 5 at UPM Blandin in Minnesota, United States, reducing the annual capacity by approximately 128,000 tons of coated magazine paper in response to overcapacities in the North American paper market. The closure is expected to be completed by end of Q1 2018 the latest. Paper production related to paper machine 6 is planned to continue at the Blandin site. In total 223 positions are estimated to be affected by these plans in Dörpen at UPM Nordland Papier and UPM NorService. At UPM Blandin, it is estimated that 150 positions will be affected by the plans. Click Read More below for additional information.
For the third quarter, earnings from continuing operations were $0.77 per share (diluted), up 13 percent compared with $0.68 per share in 2016, primarily driven by improved segment operating profit in Europe and Latin America, and lower interest and tax expense. Net sales were $1.8 billion, an increase of almost 5 percent compared to the prior year third quarter, primarily due to favorable currency translation. Price increased 1 percent on a global basis, while shipments were on par with the prior year. Earnings from continuing operations before income taxes were $172 million, an increase of 12 percent compared with the same period in 2016. Segment operating profit of reportable segments for the third quarter of 2017 was $260 million, an increase of 10 percent compared with prior year. Notable gains were reported in Europe and Latin America which more than compensated for external weakness in North America. Europe benefited from a favorable sales mix, a currency tailwind and the receipt of an energy credit, as expected. The increase in Latin America was driven by a 7 percent increase in shipments including double-digit gains in Brazil and a reduction in total systems cost. Click Read More below for additional information.
Q3 2017 highlights: •Comparable EBIT increased by 12% to EUR 351 million (314 million in Q3 2016). •Good growth in deliveries and strong operational efficiency with no significant maintenance activity. •Strong operating cash flow at EUR 486 million (506 million). •Net debt decreased to EUR 623 million (1,479 million). •UPM announced a new focused growth project at the UPM Chudovo plywood mill in Russia. •UPM announced the next step towards entering a new sustainable biochemicals business. Q1-Q3 2017 highlights: •Comparable EBIT increased by 8% to EUR 926 million (859 million in Q1-Q3 2016). •Solid profit performance continued through a turn in input cost environment. Click Read More below for additional information.
UPM moves forward with the development of biochemicals business by evaluating the potential of building a biorefinery in the Chemical Park Frankfurt-Höchst in Germany. The new-to-the-world biorefinery would combine novel technologies and utilize sustainable wood raw material in an innovative way. This opportunity is the outcome of more than five years of extensive technology development and piloting. The planned industrial scale biorefinery would convert wood into bio-monoethylene glycol (bMEG), bio-monopropylene glycol (bMPG) and lignin up to 150,000 metric tons per year. Production would be based on hardwood from sustainably managed forests in Central Europe. Application areas for bio-monoethylene glycol include textiles, bottles, packaging and deicing fluids. Click Read More below for additional information.
UPM further strengthens its position as the leading plywood manufacturer in Europe. Following successful growth investments in Finland and Estonia over the past few years, UPM expands its Chudovo plywood mill in Russia by investing EUR 50 million. The project will increase the mill's production capacity by 45,000 to 155,000 m3 while also broadening the mill's product portfolio. In addition to the production capacity growth, a new bio heat boiler will be built at the mill site. "The expansion of the Chudovo mill is an important step in executing our strategy. Our goal is to further strengthen our leading position in priority end-use segments. New competitive birch plywood capacity improves our ability to respond to growing demand in our key markets, while delivering industry-leading quality and reliability," says Mika Sillanpää, Executive Vice President of UPM Plywood. Click Read More below for additional information.
Metsä Board has once again been rewarded a position on the CDP Water A List as well as on the CDP Climate A List. This is the third consecutive year that the company has been included on the CDP Water A List and the second year on the CDP Climate A List. Metsä Board also achieved Leadership status in the CDP Forest programme for the third year in a row. CDP is a non-profit global environmental disclosure platform. Metsä Board is among the top 10% of companies participating in CDP’s water programme to be placed on the Water A List. This achievement is in recognition of its actions in the last reporting year to manage water more sustainably. Additionally, Metsä Board is among the top 5% of companies participating in CDP’s climate change programme to be featured on the 2017 Climate A List. This positioning recognises its activities to cut emissions, mitigate climate risks and develop the low-carbon economy. Click Read More below for additional information.
Ahlstrom-Munksjö, a global leader in fiber-based materials, announces the launch of Ahlstrom-Munksjö PureArmor™, a breathable impervious fabric for blood borne pathogen and cleanroom apparel protection. “PureArmor™ eliminates the need to choose between comfort and protection. It offers the highest possible level of protection for sensitive environments without sacrificing the wearer's comfort, which is unique when compared to fabrics frequently used in cleanroom apparel,” said Lionel Bonte, Vice President, Medical, Ahlstrom-Munksjö. The new PureArmor™ fabric is a next generation tri-laminate nonwoven that has extremely low lint, making it suitable for applications that are sensitive to particle contamination. Click Read More below for additional information.
Highlights: Graphic Packaging will create a leading integrated paper-based packaging company with approximately $6 billion of revenue and $1 billion of EBITDA post-synergies. Expands existing and builds new platforms for integrated growth in SBS foodservice markets and folding carton converting. International Paper Company's North America Consumer Packaging business valued at $1.8 billion. Targeting $75 million in synergies by the end of year three. Valuation of 8.6x Adjusted EBITDA and 6.3x Adjusted EBITDA post-synergies based on $210 million of Adjusted 2017 Estimated EBITDA. Transaction structured as a new partnership comprised of Graphic Packaging's existing businesses and International Paper Company's North America Consumer Packaging business. Graphic Packaging Holding Company will own 79.5 percent of the partnership and will be the sole operator. International Paper will own 20.5 percent of the partnership. Click Read More below for additional information.
Group Financial Highlights: •Total revenues up 15% to £72.1 million (2016: £62.7 million) •Digital revenues up 15% to £8.9 million (2016: £7.7 million) •Print revenues up 16% to £60.1 million (2016: £51.7 million) •Adjusted* profit before tax up 74% to £2.5 million (2016: £1.5 million) •Profit before tax £1.7 million (2016: £0.1 million) •Net cash up 85% to £16.9 million (2016: £9.1 million). Click Read More below for additional information.
Oil is holding above $50 a barrel as speculation mounts that members of the Organization of Petroleum Exporting Countries will prolong supply curbs to prevent the market returning to surplus next year. At the same time, there are signs that growth in U.S. shale oil, which has kept a lid on prices, may be slowing as drilling declines. “The market will probably take it positively if OPEC can explain their thinking on how it works when they’re not voluntarily holding back oil from the market anymore,” Torbjorn Kjus, analyst at DNB Markets said. “There’s a fear in the market that when the deal runs out, then it’s every man for himself again, and that’s not what they’re thinking.” Click Read More below for additional information.
Heidelberger Druckmaschinen AG (Heidelberg) has received awards from the German Design Council in Frankfurt for the outstanding design of its machines, as it was announced on 20 October in cooperation with the specialist journal “manager magazin”. The Award’s international jury honors design trends leading the way in the German design landscape. The Award, which was established in 2012, is one of the most respected of its kind worldwide, and is highly regarded well beyond specialist circles. The Speedmaster XL 106 offset printing press was selected as the winner for industrial applications, the new Primefire 106 digital printing press as the winner for digitized, personalized packaging, and the new Omnifire 250 as the winner for printing three-dimensional objects like balls, drinking bottles, or cell phone covers, with the Omnifire 1000 model receiving a special mention by the jury. Click Read More below for additional information.
Operating profit for January–September 2017 was SEK 1 745 million (January–September 2016: SEK 1 583 million excluding items affecting comparability). The improvement in earnings was due to higher wood product prices and better earnings from forests. Compared with the second quarter, operating profit increased by SEK 68 million to SEK 593 million, mainly because second-quarter earnings were negatively affected by a maintenance shutdown. Profit after tax for January–September amounted to SEK 1 336 million (982), which corresponds to earnings per share of SEK 15.9 (11.7). Return on capital employed increased to 9.4 (8.4) per cent. Cash flow was strong during the year. A dividend of SEK 1 008 million has been paid while net financial debt decreased by SEK 360 million.
Neenah announces the highly anticipated relaunch of Touché Papers. With new color additions to the line, Neenah now has a complete portfolio of the best-selling soft touch papers on the market. The name Touché, which comes from the French verb toucher, meaning, “to touch,” depicts the essence of these papers. “Soft touch papers are ideal for projects that are meant to get noticed. Handing someone a business card that not only looks beautiful, but also feels unique is guaranteed to make an impression. An elegant book cover with this soft, subtle texture instantly invites the consumer to reach out and touch it. These papers are elegant and sophisticated, are known for their on-press performance, and offer a luxurious touch like no other paper can,” says Auburne Gahlman, Marketing Manager, Neenah. Click Read More below for additional information.
Graphic Packaging Holding Company reported Net Income for third quarter 2017 of $47.3 million, or $0.15 per share, based on 310.9 million weighted average diluted shares. This compares to third quarter 2016 Net Income of $57.8 million, or $0.18 per share, based on 320.4 million weighted average diluted shares. Net Sales increased 3.1% to $1,137.6 million in the third quarter of 2017, compared to $1,103.7 million in the prior year period. When comparing against the prior year quarter, net sales were positively impacted by $29.7 million of improved volume/mix related to an acquisition and modestly positive core volumes, and $7.8 million of favorable foreign exchange. These benefits were partially offset by $3.6 million of lower pricing. Click Read More below for additional information.
Nosco, Inc., a subsidiary of Holden Industries, Inc., announced that it has acquired Gooding Company, Inc., a New York-based insert and outsert manufacturer with over 141 years of printing experience. Through the acquisition of Gooding, Nosco will add an additional manufacturing facility on the east coast that will help reduce lead times, lower packaging costs and provide an expanded portfolio of folded literature. Gooding was established in 1876 in Lockport, New York. In 1990, the company was sold to current president, Jerry Hace. Under Hace's leadership, the company began focusing on enclosures for the medical and pharmaceutical industries, in addition to other markets. "Over the years, Jerry Hace built a great team at Gooding that behaves very consistently with the employee-owned culture at Nosco," said Russ Haraf, Nosco President. "Gooding is a great company that will complement our On_Demand Solutions Center in Philadelphia very well – offering a full line of healthcare printed packaging solutions with best-in-class cycle times for the eastern portion of the U.S." Click Read More below for additional information.
TimberWest is the first Sustainable Forestry Initiative (SFI) Program Participant to achieve the Canadian Council for Aboriginal Business (CCAB) Bronze certification under the Progressive Aboriginal Relations (PAR) program. This certification demonstrates to Indigenous communities that TimberWest is a good business partner, a great place to work and is committed to the prosperity of Indigenous communities. TimberWest is also the first BC forest company to earn PAR certification. “As a forester by training I am very pleased that TimberWest has shown its commitment to Indigenous communities by undergoing PAR certification. This leadership demonstrates to other forest companies, and other companies outside BC’s forest sector, that strong Indigenous relations make good corporate policy,” said JP Gladu, President and CEO of the CCAB. The PAR framework evaluates companies on four PAR performance areas known as the PAR drivers, which are designed to ensure comprehensive business engagement with a community. The four PAR drivers are: leadership actions, employment, business development, and community relationships. PAR certification provides a high level of assurance to communities because the designation is supported by an independent, third-party verification of company reports. The final PAR level achieved by a company is determined by a jury comprised of Indigenous business people. Click Read More below for additional information.
Kohl’s announced its continued partnership with Children's Hospital of Wisconsin with a donation of $800,000 over the next two years to fund a new program, Mission: Healthy Kids, that raises awareness statewide about the importance of healthy eating and active living in children’s physical development, ability to learn and emotional well-being. “Kohl’s shares Children’s Hospital of Wisconsin’s commitment to children’s health,” said Jen Johnson, Kohl’s vice president, corporate communications. “We are proud to partner with Children’s Hospital of Wisconsin to encourage children and families across the state to make active and healthy choices in support of a healthy lifestyle.” Click Read More below for additional information.
The Minuteman Press franchise located at 3523 Eastern Avenue, Suite 4 in Davenport has been awarded the #1 ranking in the Printing and Promotions category by Locals Love Us Quad Cities. The #1 ranking was based on online votes that Locals Love Us tallied from local area residents in over 200 categories via their secure, online survey. During the voting period, Minuteman Press in Davenport used an effective cross media marketing approach to let their customers know about the online voting. Sue Grant of Minuteman Press Davenport explains, "We did an email blast to our customers at the beginning of September and a reminder again on September 25th. In addition, we visited our customers and gave them a Minuteman Press two-color 1/4 pad with voting directions on the top sheet. We also handed out orange foil wrapped chocolate coins in our store and explained the online voting process to our walk in customers as well." Click Read More below for additional information.
According to the September 2017 Printing-Writing Monthly report from the American Forest & Paper Association, total printing-writing paper shipments decreased five percent in September compared to September 2016. All four of the major printing-writing grades posted year-over-year shipment declines. U.S. purchases of printing-writing papers also decreased, down six percent in September. Total printing-writing paper inventory levels increased one-half of one percent from August. •September uncoated free sheet (UFS) paper shipments decreased year-over-year following the year-over-year increase in August. Imports of UFS decreased by 18% year-over-year in August – this follows two consecutive decreases of 20% or more. Meanwhile, exports of UFS papers increased 17% year-over-year in August, which follows three consecutive increases of 20% or more. •Operating rate for coated free sheet (CFS) paper producers in September hits highest level since September 2016. U.S. imports of CFS papers decreased 9% year-over-year in August, the second consecutive year-over-year decline. Exports of CFS papers increased 6% year-over-year in August, the sixth increase in the past eight months. •Coated mechanical (CM) paper shipments declined year-over-year in September for the fourth consecutive month. Imports of CM increased in August, up 7% compared to August 2016. Exports of CM also increased, up 28% in August to 35,700 tons – the highest level since November 2016. •Shipments of uncoated mechanical (UM) papers have declined year-over-year in every month when compared to the same month in 2016. Imports of UM decreased 11% year-over-year in August while exports of UM increased 1% year-over-year in August – the fifth year-over-year increase in the first eight months of 2017.
Total boxboard production increased 3.3 percent when compared to September 2016, and decreased 6.3 percent from last month. Unbleached Kraft Boxboard production increased over the same month as last year but decreased compared to last month. Total Solid Bleached Boxboard & Liner production increased when compared to September 2016, but decreased compared to last month. The production of Recycled Boxboard increased compared to September 2016, but decreased when compared to last month.
Canfor Corporation reported net income attributable to shareholders (“shareholder net income”) of $66.2 million, or $0.51 per share, for the third quarter of 2017, compared to shareholder net income of $81.3 million, or $0.61 per share, for the second quarter of 2017 and net income attributable to shareholders of $50.9 million, or $0.38 per share, for the third quarter of 2016. For the nine months ended September 30, 2017, shareholder net income was $213.6 million, or $1.62 per share, compared to $112.9 million, or $0.85 per share, for the nine months ended September 30, 2016. The Company reported operating income of $105.4 million for the third quarter of 2017, down $25.6 million from reported operating income of $131.0 million for the second quarter of 2017, with the decline reflecting lower operating earnings in both the lumber and pulp and paper segments. Lumber segment results were impacted by a decline in Southern Yellow Pine (“SYP”) lumber prices, a 5 cent, or 7%, stronger Canadian dollar, as well as increased log costs in Western Canada, the latter reflecting continued weather-related challenges and the effects of the worst fire season in recorded history in the BC Interior. Click Read More below for additional information.
Canfor Pulp Products Inc. reported net income of $12.6 million, or $0.19 per share, for the third quarter of 2017, compared to $20.2 million, or $0.31 per share, for the second quarter of 2017 and $22.4 million, or $0.34 per share, for the third quarter of 2016. For the nine months ended September 30, 2017, the Company’s net income was $56.9 million, or $0.86 per share, compared to $47.7 million, or $0.70 per share, for the nine months ended September 30, 2016. The Company reported operating income of $21.1 million for the third quarter of 2017, down $10.4 million from the $31.5 million reported for the second quarter of 2017. While pulp shipments and production were both up quarter-over-quarter, the related increase in operating income was more than offset by the impact on unit pulp and paper sales realizations of a significantly stronger Canadian dollar. Pulp shipments and production volumes were up 10% and 11%, respectively, from the previous quarter, principally reflecting a decline in scheduled maintenance outages. Click Read More below for additional information.
Today, it seems we are conditioned to think about innovation in terms of disruption or the emergence of products that are bigger, brighter, sharper, contain more memory or longer battery life. Paper has been so embedded in our lives over multiple generations that it is not only taken for granted, but sometimes thought of as an analog industry in a digital world. Yet our industry has survived recessions, war, global competition, soaring energy costs, increasing environmental regulation, e-books, tablet computers. We have proven time and again, through the resilience and ingenuity of our people, we can evolve our products and meet new customer needs. The paper industry has found innovative ways to reduce costs, increase productivity and developed new, value-added products that continue to make life better. Innovation comes in many forms; sometimes accompanied by press releases and media coverage and sometimes through continuous improvement and optimization of operations that are implemented without major fanfare or hoopla. All deserve to be recognized during National Forest Products Week, celebrated this year from October 15- 21. By leveraging emerging technologies, the U.S. paper industry has made dramatic improvements in energy use, resource efficiency and operational flexibility, which has enabled it to compete in the global marketplace. Through innovation, older, inefficient facilities have been transformed into world-class operations that reduce energy consumption and carbon emissions, reduce water intake, extract more value from renewable biomass and are positioned to capture value in emerging markets. Click Read More below for additional information.
December futures were little-changed in New York. OPEC and its partners including Russia achieved a record-high level of compliance to output cuts during September, according to a statement on Saturday. In the U.S., drillers reduced the rig count for a third week to the lowest since June, according to Baker Hughes. “The lower U.S. rig count number, the OPEC compliance number and the geopolitical headlines from northern Iraq and Iran on sanctions have helped futures higher,” Ole Hansen, head of commodity strategy at Saxo Bank A/S said. “But there are signs the market could be weakening with the seasonal refinery demand slowdown.” One sign that demand could be weakening is the Brent market structure known as backwardation -- when prompt prices are more expensive than later-dated futures -- which isn’t as strong as a month ago, said Hansen. Click Read More below for additional information.
We work hard to ensure we meet and surpass all environmental regulations. In 1995, the pulp mill owned by Irving Pulp & Paper, Limited invested $300 million to modernize and significantly improve the mill’s environmental performance. This investment allowed the mill to become compliant with the newly released federal emission regulations by using world-first technology. Today the pulp mill is: - The only mill in North America to meet environmental regulations without the use of a large external lagoon. As the pulp mill is located in the middle of the city and on a 100+ year old site, a traditional treatment lagoon was not practical. - The only mill in North America to operate without a solid waste landfill by reusing or reducing its solid waste. The pulp mill treats and diverts virtually all solid waste to value added materials. - Over 95% energy self-sufficient through significant efficiency investments. - One of the lowest odour emitting pulp mills in North America through investments to collect and incinerate most emission sources. Recently Irving Pulp & Paper was charged for releasing “deleterious substance in water frequented by fish”. It is important to note that no fish died in the river, and that all releases were self-reported to regulators. Click Read More below for additional information.
Executive Summary: ◦Third quarter 2017 net sales of $4.6 billion increased 1 percent compared to the year-ago period. Changes in foreign currency exchange rates benefited sales by nearly 1 percent and organic sales rose slightly. Organic sales were similar in North American consumer products. Outside North America, organic sales increased 3 percent in developing and emerging markets and fell 3 percent in developed markets. ◦Diluted net income per share for the third quarter was $1.60 in 2017 and $1.52 in 2016. Results benefited from volume growth, cost savings and reduced marketing, research and general spending, while performance was impacted by lower net selling prices and input cost inflation. ◦The company continues to expect that full-year 2017 net sales and organic sales will be similar, or up slightly, year-on-year. The company also continues to anticipate that full-year 2017 earnings per share will be at the low end of its target range of $6.20 to $6.35. Click Read More below for additional information.
WestRock Company was recognized for design excellence at the 74th annual North American Paperboard Packaging Competition. The company won 13 awards—the most of any entrant—including the prestigious Eco Award for its unique 8 pack designs for Budweiser and Bud Light’s 16 oz aluminum bottles. Sponsored by the Paperboard Packaging Council (PPC), the competition is judged by a panel of packaging experts. The awards recognize cartons that represent the best in converting excellence, innovation, and sustainability that the North American folding carton industry has provided its customers over the past year. The Eco Award recognizes an outstanding use of paperboard in replacing a non-paperboard substrate, creating extremely sustainable packaging, and/or fostering materials reductions or better cubing. Click Read More below for additional information.
The Sunday 2000 has a proven reputation for delivering high quality, productivity and efficiency across a varied range of web offset applications. Innovative gapless blanket technology accelerates speed and leads to dramatic savings in both time and cost. The Sunday 2000’s exclusive combination of premium print quality and faster production on wider webs makes this press the most versatile, competitive and cost-effective press in its category. Ken Love, CEO of Master Graphics, says, “We currently successfully operate two Goss Sunday 2000 press systems as well as three Goss M1000 presses. We are very happy with the performance of those machines and with the excellent parts and service support from Goss, so as we move our business forward it made perfect sense to build on the existing partnership with Goss and invest in another Sunday 2000 press system.” Click Read More below for additional information.
Effective immediately, the temporary order moratorium on CFS Web, Economy Sheets, and C1S has been lifted. Please work with your Midland Paper, Packaging & Supplies Sales Representative if you have any questions.
The company reported net sales of $426.5 million for the third quarter of 2017, down 2.0% compared to net sales of $435.3 million for the third quarter of 2016. Net earnings determined in accordance with generally accepted accounting principles, or GAAP, for the third quarter of 2017 were $0.9 million, or $0.05 per diluted share, comparable to net earnings for the third quarter of 2016 of $0.9 million, or $0.05 per diluted share, as a $2.4 million tax benefit from Federal tax credits in the third quarter of 2017 more than offset a pre-tax loss of $2.2 million for the quarter. Excluding certain non-core items identified in the attached Reconciliation of Non-GAAP Financial Measures, third quarter 2017 adjusted net earnings were $5.3 million, or $0.32 per diluted share, compared to third quarter 2016 adjusted net earnings of $2.4 million, or $0.14 per diluted share. Earnings before interest, taxes, depreciation and amortization, or EBITDA, were $31.3 million for the third quarter of 2017 compared to $32.0 million for the third quarter of 2016. Adjusted EBITDA for the quarter was $37.6 million, up 9.7% compared to third quarter 2016 Adjusted EBITDA of $34.3 million. Click Read More below for additional information.
Book publishers are giving an advance review of the industry’s future, and it looks a lot like the past. After a decade of technological upheaval and lackluster growth, executives at the top four U.S. consumer book publishers say they are done relying on newfangled formats to boost growth. It has been nearly 10 years since Amazon.com Inc. introduced its Kindle e-book reader amid the financial crisis, destabilizing publishers and challenging their well-honed business models. Now, e-book sales are on the decline, making up a fraction of publishers’ revenue, and traditional book sales are rising. The consumer books industry is enjoying steady growth in the U.S., with total revenue increasing about 5% from 2013 to 2016, according to the Association of American Publishers. Executives gathered in Frankfurt for the industry’s biggest trade fair said they are returning to fundamentals: buying and printing books that readers want to buy—and they are streamlining their businesses to get them out faster than ever before. It is about “knowing what [readers] want,” said Markus Dohle, chief executive of Bertelsmann SE and Pearson PLC’s joint venture Penguin Random House, “to drive demand at scale.” Click Read More below for additional information.
Amazon announced that its largest wind farm yet—Amazon Wind Farm Texas—is now up and running, adding more than 1,000,000 MWh of clean energy to the grid each year. Amazon has launched 18 wind and solar projects across the U.S., with over 35 more to come. Together, these projects will generate enough clean energy to power over 330,000 homes annually. These projects also support hundreds of jobs and provide tens of millions of dollars of investment in local communities across the country. Amazon Wind Farm Texas includes more than 100 turbines – each over 300 feet tall with a rotor diameter more than twice the wingspan of a Boeing 787. Amazon Wind Farm Texas is built, owned, and operated by Lincoln Clean Energy (LCE), an I Squared Capital portfolio company and a leading developer of wind and solar projects across the U.S. Amazon, LCE, and local officials and residents celebrated the grand opening of the wind farm with a BBQ event onsite. To thank and support the local community, Amazon is donating $50,000 to the Snyder Education Foundation to provide students and teachers with STEM learning opportunities. Click Read More below for additional information.
National Average Price for Regular – Current: $2.458; Month Ago: $2.607; Year Ago: $2.232. National Average Price for Diesel – Current: $2.729; Month Ago: $2.720; Year Ago: $2.420.
American Dollar to Canadian Dollar = 0.800895; American Dollar to Chinese Yuan = 0.151079; American Dollar to Euro = 1.181784; American Dollar to Japanese Yen = 0.008840; American Dollar to Mexican Peso = 0.052958.
While oil investors are grappling with geopolitical risks, the potential impact of tensions in the Middle East is uncertain, Goldman Sachs Group Inc. said Tuesday. While the conflict between Iraq’s central government and the semi-autonomous Kurds cut crude flows through a Turkish pipeline, the disruption may be short lived. Meanwhile, OPEC sent its strongest signal yet that its output cuts will be extended until the end of 2018. The flow rate through the pipeline from Kurdish region to the Turkish port of Ceyhan was about 200,000 barrels a day, according to a port agent report. That was unchanged from Thursday, but down from about 600,000 barrels a day before the conflict began. U.S. gasoline inventories expanded by 908,000 barrels last week, while distillate supplies climbed by 528,000 barrels to 134.5 million barrels, according to the Energy Information Administration. Crude stockpiles declined for a fourth week, down by 5.731 million barrels to 456.5 million barrels, the data showed. Click Read More below for additional information.
All the major shareholder groups of Norske Skogindustrier ASA have indicated their strong support for the consensual recapitalization solution between the Unsecured Committee and the Senior Secured Noteholder Committee reached yesterday. Among the 20 largest shareholders, who control about 38 % of the total number of shares in Norske Skogindustrier ASA, there are already over 75 % support for the recapitalization proposal. At the last general meetings, there have been about 35 - 40 % attendance from the shareholders, where the largest shareholders would constitute more than 90 % of the votes. The transaction will need the support of existing shareholders of Norske Skogindustrier ASA, with a 2/3 majority in an extraordinary general meeting. Among the 20 largest shareholders, there are some nominee accounts, where the shareholder is not known to the public or the company. Such nominee accounts represent almost 20 % of the total number of shares controlled by the 20 largest shareholders, and their vote is therefore unknown to the company. "We are pleased to see that all known major shareholders will support the recapitalization transaction. As repeatedly stated, all alternatives to a consensual solution will entail significantly less value for all parties and rather complicated insolvency processes. If the proposal is successful, the transaction will reduce the group's gross debt from approximately NOK 9 billion to approximately NOK 3 billion and reduce annual cash interest costs from approximately NOK 600 to 200 million", says Mr. Christen Sveaas, chairman and the largest shareholder of Norske Skogindustrier ASA. Click Read More below for additional information.
The price increase for both product ranges will be from 8 to 10% depending on format and country. This price movement is essential in order to offset the continuous increase in manufacturing and distribution costs. Lecta sales teams are at our customers' disposal to provide specific information on how the price increase will be applied by product on a country by country basis.
Steven Mattes, CEO of Industrial Assets Corp., states the site has over a billion USD of investment capital put into the infrastructure and equipment at the site. The workforce is determined to keep the mill in operation with a high level of technical knowledge and work ethic. Industrial Assets and its partner, Maynards Industries, are uniquely suited to find the perfect strategic buyer, most likely in the growing packaging grade sector. This mill's infrastructure is very desirable, featuring a 50 MW Cogeneration system, which will provide low cost energy, the site includes rail service, all permits in place for an immediate restart for a domestic or foreign buyer. This 55-acre site with 1.2 million sq. ft. is ideal for running containerboard grades. The (3) paper machines have trim widths ideal to serve the corrugator converters with a customer base ready to enter into production output agreements. The Jagenberg off-machine coater laminator provides the distinct advantage to produce linerboard to the growing demand of the high end graphics segment of commodity packaging. "We have a combined ability to provide direct financing and leasing program for all size companies to take advantage of this very unique opportunity," said Taso Sofikitis, CEO/President of Maynards. Click Read More below for additional information.
RISI reports that LEIPA will increase the transaction price of all coated mechanical reels by 30 Euros per ton for all grades in all markets.
The redesign includes a vibrant and elevated approach to photography and visuals, updated layouts and formats, and a revamped editorial lineup. The dynamic refresh offers a modern, easy-to-navigate format with an opportunity for readers to engage with Rachael on a personal level. Rachael Ray Every Day restructured the magazine, creating four distinct departments: •On Our Radar: A bitsy, beautiful front-of-book section full of news and trends spotted by Rachael herself and our team of in-the-know editors. •Real Food: A series of visually distinct recipe franchises that hit the busy person's bull's-eye—fast, easy, fresh, and delicious. •The Well: Where zeitgeist-y stories get the deep-dive treatment with lush, sumptuous food photography and spectacular design. •Real Life: All about your home and the people (and animals!) who fill it—interior upgrades, DIY decorating, entertaining, family moments, and heartstring-tugging pet stories. Click Read More below for additional information.
For a variety of reasons we haven’t been able to reach our targeted output when running 70# Orca. Now with the new two machine scenario coming we have a new scenario and we can’t continue making all current grades. Even though we run the risk (small) of losing some 50 & 60# Orca offset we have come to the conclusion that 70# Orca Offset needs to be discontinued. Therefore we have no future blocks of this grade in our production planning. If you do get inquiries from the market kindly inform customers that we have discontinued production of 70# Orca Offset.
Net sales for the third quarter were a record $1.32 billion, an increase of $115.9 million, or 9.6 percent, from last year’s quarter. The improvement in sales was a result of higher selling prices, largely driven by rising raw material prices; sales added from acquisitions, net of divestitures; and the positive impact of foreign exchange. Gross profits were a record $250.9 million in the third quarter, an increase of $15.5 million or 6.6 percent, compared with $235.4 million in the same period in 2016. Gross profit as a percentage of sales declined to 18.9 percent, compared with 19.5 percent in the same period in 2016. The gross profit percentage reduction was primarily due to higher raw material and other operating costs offset by manufacturing and procurement productivity. Third-quarter selling, general and administrative expenses increased $8.7 million from the prior year to $130.3 million. This increase was driven by wage inflation and acquisition-related expenses. Click Read More below for additional information.
Containerboard production was essentially flat compared to September 2016. The month-over-month average daily production compared to August 2017 was 3.8% lower. The containerboard operating rate for September decreased from 97.2% to 95.9%, which was 0.9 percentage points lower than September of last year. Year-to-date production of containerboard for export is up 2.2%, with the September volume falling 13.6% below the same month last year.
Total Packaging Papers shipments were 222,200 tons, 3.4% lower than September 2016. Bag & Sack shipments were up 3.8% year-to-date, while Food Wrapping shipments were down 7.8% over the same period. The operating rate for September 2017 was 87.9%, while the year-to-date rate was 88.7%. Inventories were 168,300 tons, down slightly since August.
Crude had risen since late last week as tensions in Iraq, OPEC’s second-largest producer, led to the halt of production at two Kirkuk fields. The resulting export curbs pushed oil in the U.S. to a three-week high on Wednesday but Brent has failed to breach last month’s peak and dropped below $58 following the inventory data. Prices reflect “oil bulls taking profit after the supply disruption in Iraq failed to drive Brent to new highs,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S. “It’s a classic risk-off move. On balance, I believe yesterday’s EIA report was net bearish.” U.S. gasoline inventories expanded by 908,000 barrels last week, while distillate supplies climbed to 134.5 million barrels, according to the Energy Information Administration. Refinery utilization slipped as plants including Exxon Mobil Corp.’s Joliet refinery in Illinois were said to carry out maintenance. Click Read More below for additional information.
In order to better serve our Customer’s needs, BCI Hawkeye completed in October the installation of a Bobst VISIONCUT 1.6 PR autoplaten die-cutter with Power Register, a state-of-the-art system for unmatched print-to-cut accuracy. This technology will support the growing need for precision die-cutting of micro flute, single wall, double wall, and litho-laminated corrugated board.
Net sales in the third quarter increased to $2,468 million compared to $2,326 million in the third quarter of 2016, reflecting increased global beverage, food and aerosol can volumes, the pass through of higher raw material costs, and $38 million of favorable currency translation. Income from operations was $347 million in the third quarter of 2017. Segment income improved to $358 million in the quarter over the $333 million in the third quarter of 2016, including a benefit of $5 million from currency translation. Net income attributable to Crown Holdings in the third quarter was $177 million compared to $183 million in the third quarter of 2016. Reported diluted earnings per share were $1.32 in the third quarter of 2017 compared to $1.31 in the 2016 third quarter. Adjusted diluted earnings per share were $1.41 compared to $1.33 in the third quarter of 2016. Through September 30, the Company repurchased a total of 6.2 million shares of its common stock for $339 million, including 1.1 million shares for $62 million during the third quarter. Click Read More below for additional information.
Hearst and Rodale Inc. announced that Hearst has agreed to acquire the magazine and book businesses of Rodale, a global health and wellness content company based in New York and Emmaus, Pennsylvania. The announcement was made by Hearst President and CEO Steven R. Swartz, Rodale CEO Maria Rodale and Hearst Magazines President David Carey. The transaction is expected to close in early 2018, following receipt of necessary government approvals. Terms were not disclosed. Upon completion of the acquisition, Rodale’s multi-platform content business will be managed by Hearst Magazines, a unit of Hearst with more than 300 editions and websites around the world, including 20 titles in the U.S. Click Read More below for additional information.
Smithers Pira’s newest report – “Real production capability of pre-owned sheetfed litho presses” – analyzes the impression count of almost 450 pre-owned sheetfed litho presses under 10 years old from five different manufacturers. Averaged across all platform sizes, the report finds that Heidelberg presses are 24.1% more productive than all other manufacturers’ machines when comparing the overall impression count of all machines in all formats. In the case of the Speedmaster XL 105/106, the press is 66% more productive than all the competitive machines. Smithers Pira costing model showed 11% lower production costs per 1,000 sheets. “When we studied the data available online for the used equipment market, we started truly understanding the reality of how much more productive Heidelberg equipment is versus our competitors,” said Global Head of Marketing, Heidelberger Druckmaschinen AG, Andy Rae. “But to have the data verified by a respected organization such as Smithers Pira, it now shows the whole industry the astounding proof of Heidelberg productivity.” Click Read More below for additional information.
“The progress we’ve made during the past two years has created a company that is more nimble and more focused on the solutions our customers want. We are delivering cutting-edge innovation faster than our competitors. And, we have improved our financial profile and increased shareholder value by more than 90% since we launched,” said Meg Whitman, CEO of HPE. “Going forward, we will accelerate profitable growth through a focus on higher margin services and solutions. We will redesign our company to deliver Hybrid IT and Edge innovations tailored to our services strengths.” HPE’s strategy remains focused on three key pillars. First, to make Hybrid IT simple through its data center technology, systems software, private cloud and public cloud partnerships. Second, to power the Intelligent Edge through offerings from Aruba in campus and branch networking, and the Industrial Internet of Things with products like Edgeline and the Universal IOT software platform. Third, to provide Advisory, Professional and Operational Services capabilities, including giving customers financial flexibility through consumption-based models. Click Read More below for additional information.
The value of goods transacted on eBay Inc.’s U.S. marketplace grew 4.8% to $8.78 billion during the company’s third quarter ended Sept. 30, the online marketplace reported Wednesday. That’s up from $8.38 billion during the third quarter a year ago. For the first nine months of 2017, U.S. gross merchandise value was $26.43 billion, up 2.6% from $25.76 billion. Globally, sales on eBay’s marketplaces increased 8.1% to $21.68 billion from $20.05 billion in the same quarter a year ago. Excluding the impact of foreign exchange rates, global sales grew 7% year over year, eBay says. For the first three quarters of the year, global GMV grew 4.2% to $63.98 billion from $61.42 billion. Click Read More below for additional information.
Amazon now has 90 million Prime members as of Sept. 30, the end of the fiscal third quarter, which is an estimated 63% of all Amazon customers in the U.S., according to data released Wednesday by securities research firm Consumer Intelligence Research Partners (CIRP). The number of Prime customers is up 38.5% from 65 million this time last year and up 5.9% from an estimated 85 million at the end of the second quarter, June 30. Prime is Amazon’s membership program that costs shoppers $99 annually or $10.99 monthly and offers perks such as free expedited shipping and streaming video. CIRP’s estimates are based on a survey of 500 shoppers in the U.S. who made purchases from Amazon during the July-September period. Amazon does not release exact figures on the number of Prime customers. Click Read More below for additional information.
The forest industry continues to be a key export sector and a major employer in Finland. Its economic importance is emphasised by the fact that raw materials and services needed in production are mainly sourced from Finland. Metsä Group's Äänekoski bioproduct mill is an example of the forest industry of the new era. Its positive impacts on the Finnish economy are substantial,” Sauli Niinistö says. The forest industry continues to be a key export sector and a major employer in Finland. Its economic importance is emphasised by the fact that raw materials and services needed in production are mainly sourced from Finland. Metsä Group's Äänekoski bioproduct mill is an example of the forest industry of the new era. Its positive impacts on the Finnish economy are substantial,” Sauli Niinistö says. Pulp production at Äänekoski is increasing to 1.3 million tonnes from roughly 0.5 million tonnes. The bioproduct mill is a significant project in terms of Metsä Group’s competitiveness. It is expected to achieve its nominal capacity in mid-2018, which will make Metsä Group the world’s largest producer of softwood market pulp. With this new bioproduct mill, Äänekoski’s industrial ecosystem will develop and grow further, as the mill serves as a platform for the manufacture of new bioproducts. In the first phase, new bioproducts will include product gas, sulphuric acid, biogas and biofuel pellets. Key bioproduct development projects include lignin products, textile fibres and biocomposites. Click Read More below for additional information.
Community forests play an important role within Indonesia. Covering just 2.3 million hectares, these forests support the livelihoods of more than 3.4 million households. The Indonesian national forest certification system achieved PEFC endorsement in 2014, and since then, more than 3 million hectares of forest have become PEFC certified. However, while uptake of forest certification has been successful among large companies, it has yet to take hold in the country’s community forests. To make certification more accessible to the community forests, the Indonesian Forest Certification Cooperation (IFCC), supported by the 2015 PEFC Collaboration Fund, GIZ, and others, has developed new requirements for community forest management certification. Click Read More below for additional information.
Continuous sharp input cost rises since the beginning of the year, particularly pulp prices, have now increased to a point where Sappi can no longer absorb them . Therefore Sappi Europe today announces price increases for all Packaging and Speciality Papers with effect of January 1st, 2018. The increase will be 7 % for all uncoated grades and 5 % for all coated grades for Flexible Packaging, Label Papers, Containerboard, Silicon Base Papers and Paperboard. The price rise will apply to all European and Overseas markets. The final implementation will be discussed by Sappi’s sales team with their customers over the next weeks. Existing agreements will be certainly respected.
Brand owners will now have access to enhanced folding carton printing capabilities—including exotic inks and coatings—with an improved cost profile that will heighten their shelf presence. PaperWorks Industries has invested $3 million in a sheet-fed lithographic press at its Greensboro, N.C. facility which will enable many value-added enhancements in a single pass that traditionally take two- and three-passes to achieve. These include matte and metallic inks, specialty coatings and pigments—plus seven-color printing. The capability is driven by the press' unique configuration. "Brand owners and private label packagers are constantly looking for ways to grab the consumer's attention with eye-catching package design. Traditionally, carton printers would have to run the board through a press additional times to gain the heightened visual and/or tactile effects. However, earmarking additional funds for enhanced shelf impact may not always be feasible. Our new one-pass printing capability creates visual attributes in a fast and cost-effective manner," said Brandon Clairmont, senior vice president, packaging sales and marketing, PaperWorks. Click Read More below for additional information.
Global packaging leader Smurfit Kappa has introduced innovative new trucks which have increased capacity and slashed CO₂ emissions by 20%. The vehicles, which have been pioneered at the Piteå Paper Mill in Sweden, can handle heavier loads, resulting in a 30% reduction in the number of trips annually. Smurfit Kappa, which has amassed a wealth of experience in supply chain optimisation through its SupplySmart service, examined how it could streamline the Piteå supply chain. A team of logistics and sustainability specialists used this industry-leading expertise to optimise the supply chain and make it more efficient and sustainable. Click Read More below for additional information.
The temporary moratorium on order entry of new manufacturing orders of Coated and Uncoated Freesheet Web products from Verso Corporation has been lifted. Please work with your Midland Paper, Packaging & Supplies customer service representatives as soon as possible for your Coated Freesheet Web needs. Should you have any questions, please contact your Midland Paper, Packaging & Supplies professional sales representative. Thank you for your continued support.
Due to recent industry events and in order to protect the planned requirements of Verso’s existing customer base, there will be a temporary moratorium on order entry of new manufacturing orders of both C1S and C2S Coated and Uncoated Freesheet Web products. The moratorium is applicable to all Coated and Uncoated Freesheet Web, including but not limited to: Coated Freesheet Web: ArborWeb Plus®; Sterling® Ultra; Sterling® Ultra Book; Sterling® Ultra TrueJet®; Sterling® Ultra caliper; Productolith® Pts. C1S and C2S; Publishers Matte®; Publishers ThinBulk®: ArborWeb®; Influence®; Influence® Book; Focus®; Aspect®; Sterling® Ultra C1S; Sterling® Litho C1S; Ideal® Offset; Ideal® Reply Card. This temporary moratorium will be lifted as soon as practical, but could last as long as 48 hours.
Effective with deliveries on or after November 18, 2017, UPM is increasing the transaction price of all Coated Groundwood and Coated Freesheet Web grades. The transaction price of Coated Groundwood Grades will increase $1.00/cwt, including all basis weights and finishes of: Cote; Ultra; Valor; & Star. The transaction price of Coated Freesheet Web will increase $2.00/cwt, including all basis weights and finishes of Finesse.
A logging company’s lawsuit accusing Greenpeace and another environmental group of libel and racketeering for describing the company as a “forest destroyer” was dismissed Monday by a San Francisco federal judge, who said the organizations were exercising their freedom of speech. Resolute Forest Products alleged that Greenpeace and a Bay Area nonprofit called Stand had engaged in a “disinformation campaign,” starting in 2012, about the company’s logging in the boreal forest of northern and western Canada to boost their own fundraising. The company said Greenpeace had to retract its initial claim that its logging had violated the terms of an environmental agreement, and had falsely accused Resolute of endangering caribou in an area where the company did little logging. Greenpeace also labeled Resolute as a “forest destroyer” even though it logs only a small part of the forest, the company said. Click Read More below for additional information.
Futures in New York rose as much as 0.6 percent after adding 2.5 percent in the past three sessions. An industry report showed U.S. inventories fell last week, with government data Wednesday forecast to show a fourth straight drop. Crude’s recent gains have been driven by fighting between the Iraqi government and Kurdish forces in the oil-rich Kirkuk region, which could stoke tensions beyond the country’s borders. Iraq is just one of the oil market’s geopolitical risks, with uncertainty also growing over tensions between Iran and the U.S., Goldman Sachs Group Inc. said Tuesday. The Persian Gulf nation said it would support an extension of OPEC output cuts to the end of 2018 and insisted its production plans won’t be disrupted by U.S. President Donald Trump’s disavowal of the nuclear deal that’s boosted its exports. Click Read More below for additional information.
For the third year in a row, BPM Inc., northeast Wisconsin paper mill, has received recognition as a Green Professional in the Wisconsin Green Masters Program. The Green Masters Program recognizes and assesses Wisconsin businesses on their sustainability performance in a variety of sustainability categories. “Participation in the Green Masters Program validates BPM’s continued commitment to the environment, sustainability and social responsibility,” said Jim Koronkiewicz, BPM General Manager. “It’s a hands-on tool that BPM can use annually to review areas of sustainable potential. With an increased score, the BPM team has worked hard for this impressive accomplishment.” The program is grounded in an in-depth survey where points are rewarded for a variety of actions. These actions are grouped into areas that include: Energy, Climate, Workforce, Governance, and Community and Educational Outreach. BPM has proven their dedication and commitment to sustainability through advancing in the program. Click Read More below for additional information.
Heidelberger Druckmaschinen AG will be presenting digital printing solutions for the automotive sector at stand 372 at InPrint 2017 in Munich from 14 to 16 November. These solutions help providers from the sector to offer their customers personalized, attractive products – using digitally realized designs that are in ever greater demand given the megatrend of personalization. Using the example of a smart car, Heidelberg will be hosting live demos at InPrint showing how digitization and new printing technologies enable individual small series or individual parts to be quickly and easily realized. The items on show at the trade fair will range from custom-decorated speedometer bezels and ventilation nozzles to alloy rims. The Heidelberg Omnifire 250 4D printing system will be in operation for visitors to see. Click Read More below for additional information.
Mohawk introduced the thirteenth issue of its celebrated Mohawk Maker Quarterly at AIGA’s annual Design Conference in Minneapolis. Each issue of the Mohawk Maker Quarterly relies on a single word for its creative framework. In issue thirteen, that word is disruption. Consistent with the ongoing strategy behind the publication, issue thirteen seeks to provide thought-provoking inspiration for graphic designers around the world through engaging content and well-considered design on paper. Issue thirteen may have been the most challenging issue to date. That’s because the term “disruption” is so commonly used that it’s lost its meaning. Bandied about business culture as the term-du-jour, disruption has earned more than a few eye rolls and for good reason. Despite this troublesome ubiquity, disruption’s essence of exploration, discovery and revolution are successfully recaptured in issue thirteen. To do this, the team at Hybrid Design went looking for thinkers and doers who are upending the world as we know it. These iconoclasts are reframing the way we consider such basic concepts as time, ownership and success. They’re redefining images, spaces and perceptions in radical ways. Click Read More below for additional information.
The board of directors and management of Norske Skog are pleased to announce that it has managed to broker a consensual solution between the Unsecured Committee, the Senior Secured Noteholder Committee and major shareholders. The two bondholder committees and the major shareholders have agreed on a split of the equity ownership of Norske Skogindustrier ASA, following the recapitalization transaction that these groups will support. With this development, over 80% of the senior secured noteholders and more than 50% of the unsecured noteholders have now indicated their willingness to support such an adjusted recapitalization proposal. Therefore, the relevant boards in the Norske Skog group have resolved to revise the terms of the ongoing consent solicitation in accordance with the split agreed. The formal consent solicitation deadline is extended until Wednesday 25 October at 17:00 CET to allow adequate time for the group's noteholders to submit their formal consents. Click Read More below for additional information.
Celebrating its fourth year focusing on the original communications delivery device, International Print Day (IPD) throws open its virtual doors to the global print community on Wednesday, October 18th – and everyone is invited. Here is a chance to join a worldwide conversation without borders and share your passion for print through social media that spans all time zones and all types of print, beginning at 6 pm ET on October 17th (*11 pm GMT, 9 am AEST) and finishing 24 hours later on October 18th at 6 pm ET. There are many ways for students and artists, printers and their supply chain partners to participate. During IPD share your work, your favorite print samples and applications or simply share a moment with fellow enthusiasts using the hashtag #IPD17. Interact and network with the global print community to share your love of print. Last year, the IPD hashtag on Twitter generated an impressive 30-million timeline deliveries in just under 24 hours, so the push for 2017 is to go bigger. Click Read More below for additional information.
Effective immediately, Sappi is announcing a temporary order moratorium on all items of the following: • Opus Web • Somerset Web • Flo Web • Flo Sheets and Sheeter Rolls • LusterCote C1S. Any unconfirmed orders in our system and any inquiries will be held for review through Thursday, October 19th, when we will determine which orders and inquiries we can confirm. In light of recent industry developments, this is a short-term measure designed to secure Sappi’s production capacity for the protection of Sappi’s existing customers.
West Linn Paper Company today annouced that it is ceasing operations and will commence a winding up of its business supervised by its second lien lender. "We are deeply disappointed to end the mill’s 128 year history, the last twenty of which resulted from a major restructuring and restart when our current ownership took control of West Linn Paper Company. The commitment and support that we received from our employees, our lenders and our owners as we sought to adapt to structural changes in our markets has been remarkable. However, several unforeseeable events have led to a significant reduction in available pulp, making continued operations impossible. As a result we will wind up our operations as quickly and efficiently as possible, beginning immediately." states Brian Konen, Chief Operating Officer for West Linn Paper Company. Company officials said that orders for stock product will continue to be accepted. Orders that have been produced but not yet shipped will be shipped. Manufacturing orders that have been accepted, but not yet produced, will be reviewed and customers will be contacted shortly with confirmations as to whether those orders will be produced. The Company will not be accepting new manufacturing orders going forward.
We would like to provide an update regarding today’s announcement by West Linn Paper Company that it is ceasing operations. It is with disappointment that we learned of West Linn Paper’s closure. The mill has a proud history of 128 years, including the past 20 years since it was restarted under the current ownership. We understand that operating as a non-integrated paper mill was ultimately impossible in today’s challenging marketplace, particularly given recent events resulting in a significant reduction of pulp availability. At Port Hawkesbury Paper, it will be business as usual. Click Read More below for additional information.
Sappi North America, a leading producer and supplier of diversified paper and packaging products, today announced the ten grant recipients of its 18th annual Ideas that Matter program, where financial support is given to designers who create print integrated projects to maximize social impact. The ten projects selected this year highlight how design and creativity can help solve prominent social issues. Through communication projects and campaigns using paper and print, the winning projects focus on climate change, encourage high school students to consider urban planning, educate girls about their reproductive rights, support quality journalism, address prison reform, and explore solutions for delivering humanitarian aid - inspiring change across the country, and around the world. As an integral part of Sappi's corporate social responsibility platform since 1999, the Ideas that Matter grant program has funded over 500 nonprofit projects and contributed more than $13 million to a wide range of causes that use design as a positive force in society. The program is open to North American designers who have partnered with a nonprofit organization and developed a communication campaign that is ready for implementation. Click Read More below for additional information.
1. PRICING ANNOUNCEMENT: Neenah is announcing a price increase of approximately 2% on select Commercial Brands of paper and envelopes. The list below provides information for all brands that are being increased. 2. NON-REPLENISHED SKU ANNOUNCEMENT: In our continuing effort to provide best-in-class service to you on our core brands and our high performing items, we will no longer be replenishing select under-performing skus from our portfolio. The impacted items will be available while supplies last. Click Read More below for additional information.
Neenah is announcing a price increase of approximately 3% - 5% on several of our Wide Format brands. We’ve also taken this opportunity to better align our conVerd Board® brand pricing across the products within that portfolio. The list below information for all brands that are being increased. Wide Format - BANNER-BRITE; BLOX-LITE®; CITYLIGHT®; CONVERD BOARD® 1.5MM; CONVERD BOARD® 3.0 MM; CONVERD BOARD® 3.5MM; CONVERD BOARD® 4.7MM; CONVERD BOARD® 6.0 MM; DIGISCAPE®; DUOBOARD®; ENDURA®; EVERYDAY PHOTO; ENVIROSCAPE MURAL®; FLEXART®; GREENLIGHT® II Plus; IMAGEASE®; LUSTRÉ BOARD®; NEENAH® Photo Satin. Wide Format Brands excluded from this price increase include: CLASSIC CREST® Wide Format, ESSE® Wide Format and ASTROBRIGHTS® Wide Format. Click Read More below for additional information.
The Antidumping and Countervailing Duties cases filed by Norpac in August against the Canadian UGW industry has reached the official stage of being investigated by the United States ITC and DOC. The increasing legal costs and the incremental costs associated with the inordinate amount of our corporate personnel’s time that is associated with the efforts needed to defend ourselves from the unfounded accusations levied on our industry are staggering. We also expect to have to start depositing interim duties beginning in early January 2018. Therefore, effective December 1, 2017, we will increase our 48.8 gms newsprint transaction price by $30/MT. The transaction price for our other newsprint and UGW grades and basis weights will increase accordingly. It is Kruger’s intention to rescind this increase once the threat of the duties is lifted and once the investigation is completed.
Sales in the first nine months decreased by 2% in underlying terms primarily due to expected declines in North America in school assessment, school and higher education courseware, and the retirement of Learning Studio. Sales in US higher education courseware declined by 1% on an underlying basis, towards the upper half of our expected range. The negative impact of lower enrolments and attrition from growth in the secondary market driven by print rental was partially offset by the benefit of increased digital revenue and a year on year benefit from the reduction in returns from last year’s unprecedented levels, helped by the actions we announced at the beginning of the year. Underlying sales in Core and Growth were in line with our expectations. Click Read More below for additional information.
“Pulp, paper, packaging, tissue and wood products are interwoven through our every-day lives in undeniable ways. They and the devoted employees who manufacture them deserve a center-stage seat during National Forest Products Week – the annual celebration of our industry and its valuable contributions to society and the American economy. “In rural and urban communities across 45 states, our companies provide family-wage jobs to approximately 900,000 men and women and our industry accounts for four percent of the total U.S. manufacturing GDP. Paper and wood products manufacturers rank among the top 10 employers and utilize renewable, recyclable materials in innovative and highly-efficient processes to make products we rely on today and will need tomorrow. Click Read More below for additional information.
Amcor is expanding its leadership role in packaging innovation, product safety and sustainability in collaboration with customers and suppliers through membership of the Consumer Goods Forum (CGF). The CGF is a non-profit, global association that embraces retailers and manufacturers and is run by a board of chief executive officers – many of whom are Amcor customers. More than 400 companies from 70 countries are CGF members. With operations spanning the globe, Amcor welcomes the opportunity to continue to share our expertise and influence strategic agenda, adding the CGF to our roster of memberships with select global forums and associations.
CEO Per Lindberg comments on the development during Q3 2017: “We experienced a very strong market in the quarter, resulting in positive sales performance. Net sales were up 3% and volumes were up 1% on last year. Overall, we have had some difficulties with production availability in recent quarters, so we have established a new organisation to work proactively on both availability and quality at our facilities. I am confident that this will generate results over the coming years. Looking ahead, market conditions appear encouraging, and we see good opportunities for continued growth. In the longer term, we will have additional support from increasing demand for sustainable packaging solutions. In this respect, our major investments, which will start to deliver in 2018 and 2019, will make a significant positive contribution to our growth on this market.” Click Read More below for additional information.
Oil prices continued to climb Tuesday amid fighting in Iraq that threatened production from northern Iraq and as the relationship between the United States and Iran risked more strain. Iraqi forces on Monday clashed with fighters from Iraq’s semi-autonomous Kurdish region in the oil-rich province of Kirkuk, in a continuing standoff over Kurdish independence. The violence followed a referendum late September in which the Kurds voted overwhelmingly in favor of independence, in defiance of the central government in Baghdad and other regional powers. Click Read More below for additional information.
In appreciation of the 57th anniversary of National Forest Products Week, forest product manufacturers and organizations through the supply chain are joining to Celebrate Forest Products (#CelebrateFP). “Expera maintains the highest of standards in managing our entire wood procurement and forest certification systems,” explained Ann Funk, Vice President of Procurement & Logistics for Expera. “Expera is leading the way to ensure responsibility not only in our systems, but those of our suppliers.” Expera is certified under the Forest Stewardship Council® (FSC®), the Sustainable Forestry Initiative® (SFI®), and the Programme for the Endorsement of Forest Certification (PEFC) at all of their Wisconsin facilities. Click Read More below for additional information.
Grainger reported results for the 2017 third quarter ended September 30, 2017. Sales of $2.6 billion increased 2 percent versus the third quarter of 2016. There were 63 selling days in the 2017 third quarter, one fewer than the 2016 third quarter. On a daily basis, sales increased 3 percent versus the prior year. Net earnings for the quarter of $162 million were down 13 percent versus $186 million in 2016. Earnings per share of $2.79 decreased 9 percent versus $3.05 in 2016. "Our U.S. business had strong volume in the quarter driven by our strategic pricing initiatives and an improving demand environment. We saw a solid response from digital marketing activities that began in mid-August, particularly from our mid-sized customers. We continued to streamline our portfolio with the divestiture of a noncore U.S. specialty business, which affected sales in the quarter," said Chairman and Chief Executive Officer DG Macpherson. "Our single channel online businesses continued their strong sales growth and improved profitability. Our Canadian business continues to be challenged as we execute our turnaround strategy. Click Read More below for additional information.
Global learning company Houghton Mifflin Harcourt announced changes to its executive team, with a slate of new talent and the promotion of internal leaders to support its goal of improving learning outcomes for all students. “With a passionate and talented team in place, I look forward to what’s on the horizon for HMH as we deliver on our unique ability to provide truly integrated learning solutions,” says Jack Lynch, President and CEO, HMH. “This group brings the right balance of K-12 teaching and learning experience and customer-centered innovation to the table to deepen HMH’s longstanding position as a leading core curriculum provider and to expand and diversify our portfolio in faster growing segments within intervention, supplemental curriculum and professional services.” Click Read More below for additional information.
Due to insufficient results and the significant cost increases for pulp and other raw materials, chemicals and logistics Papierfabrik August Koehler SE is increasing its prices for all products by 7 - 12 % for deliveries from January 1st 2018 onwards.
As package printers are well aware, the packaging segment of the printing industry is one of consistent growth. Meanwhile, many commercial printers that have either found their growth at a plateau, or even on a decline, have caught onto this trend and are looking into adding packaging services to their repertoires. According to Kevin Karstedt, CEO of Karstedt Partners, the folding carton market is a good place to start for commercial printers because it relies mostly on sheetfed offset printing. But before a printer can go ahead and start printing packaging jobs on an offset press, Karstedt says it’s important for them to assess whether their current equipment is up to the challenge. “If a commercial printer only has a four-color press, they’re going to be challenged for producing packaging, unless they can produce work that is CMYK oriented, and there are no special or corporate colors,” Karstedt says. “Some older sheetfed presses also don’t handle paperboard very well, so they’re not going to be able to produce folding cartons.” Click Read More below for additional information.
"The perimeter of the store continues to experience solid growth as consumers are drawn to more fresh and natural options, with produce being the significant driver," said Sonoco Executive Vice President and Chief Operating Officer Rob Tiede. "This growth is accelerating the need for brands to offer more convenient, on-the-go options that are easy to store, consume and dispose. Shoppers are also looking for ways to reduce food waste, so packaging has a big role to play in portion control and maintaining freshness." The newly expanded product line, which will be featured at the show, includes options ranging from flexible pouches and peel-reseal lidding, to rigid plastic trays, tubs and hinged containers. These formats are ideal for pre-cut produce, prepared salads and snack-packs, as well as whole fruits and vegetables. Click Read More below for additional information.
UPM Raflatac will launch a brand new product range for medical device and healthcare industry. New RPMD is a multi-faceted adhesive that is ideal for labeling medical devices. Selection of different face materials with new RPMD adhesive are specially designed for different medical device sub-segments such as sterilization wraps and bags, infusion bags and bottles, drug-device combinations like pens, auto-injectors and inhalers and blood donation labeling. RPMD adhesive combines excellent adhesion with a tight mandrel hold on glass and plastic and is sterilization resistant and migration safe. "In April 2017 the EU Commission formally adopted two new regulations on medical devices and in vitro diagnostic medical devices. One of the main regulatory updates is the implementation of a Unique Device Identification system (UDI) that provides a globally harmonized and consistent approach for the marking and identification of medical devices", comments Markku Pietarinen, Manager, Business Segments & Pharma, Specials EMEIA. "A UDI is a code printed on a label affixed to a device or its packaging, or even directly on the device itself, in both plain text and machine-readable format. All medical devices available in the EU must comply with the new regulations by April 2020, with the deadline for in vitro diagnostic devices falling two years later, in 2022." Click Read More below for additional information.
“I am delighted to introduce Brian Napack as the 14th CEO in Wiley’s proud 210-year history of empowering discovery, advancement, and learning,” said Mr. Kissner. “After a thorough and thoughtful search, the Board of Directors unanimously agreed on Brian as the type of proven leader that can drive our continuous evolution as the trusted, innovative partner that our customers rely on to deliver the critical content, tools and services that they need to meet their goals. Brian has the deep industry experience, the passion for our business, and the leadership ability to get us there.” Mr. Napack has an extensive background as a leader and innovator in the media, education, and information industries. He comes to Wiley from Providence Equity Partners, a global private equity firm with more than $50 billion under management, where he has been a Senior Advisor focused on investments in education and media. Mr. Napack currently serves as a Director on the Boards of Blackboard, Houghton Mifflin Harcourt, Burning Glass, Ingram Industries, Recorded Books, myON, Synergis Education, and Zero To Three, a science-based early childhood advocacy organization. Due to the Wiley appointment, he will transition off certain of these boards. Click Read More below for additional information.
Nordstrom, Inc. announced that members of the Nordstrom family – Company Co-Presidents Blake W. Nordstrom, Peter E. Nordstrom, and Erik B. Nordstrom, President of Stores James F. Nordstrom, Chairman Emeritus Bruce A. Nordstrom, and Anne E. Gittinger – (the "Group") have notified the Special Committee of the Board of Directors of Nordstrom that the Group has suspended active exploration, for the balance of the year, of the possibility of proposing a transaction to take the company private. The Group informed the Special Committee that it intends to continue its efforts to explore the possibility of making a going private proposal after the conclusion of the holiday season. The Special Committee, which is committed to protecting the interests of the Company and all its shareholders, is prepared to thoroughly evaluate such a proposal from the Group at that time, if one is made. In the meantime, the Company and its employees will remain focused on running the business and delivering the best shopping experience for customers. Click Read More below for additional information.
McClatchy recorded after-tax non-cash charges of $230.9 million in the third quarter of 2017, leading to a quarterly net loss of $238.9 million, or $31.28 per share. The non-cash charges relate almost solely to a non-cash deferred tax valuation allowance and, to a minor extent, after-tax non-cash impairments on newspaper mastheads and certain equity investments. The loss in the third quarter of 2016 was $9.8 million or $1.30 per share. The company reported an adjusted net loss of $5.9 million, which excludes severance, impairments, the tax-valuation allowance, and certain other items in the third quarter of 2017. The quarterly results compare with an adjusted net loss of $2.1 million a year earlier. Total revenues in the third quarter of 2017 were $212.6 million, down 9.4% compared to the third quarter of 2016. The company estimates that in September, revenues (primarily ad revenues) from its East Coast operations were reduced by approximately $625,000 as a result of Hurricane Irma. Including the revenue impact due to Hurricane Irma, total revenues in the third quarter of 2017 would have been down 9.1% compared to the third quarter 2016. Click Read More below for additional information.
Each year since 1960, the third week in October has been proclaimed National Forest Products Week in the U.S. It is a time to recognize the essential role that forests play in the country’s history, culture, environment and economy. Our forests are a source of clean air and water, are home to a diversity of fish and wildlife, a place to enjoy, provide us with many products made from wood and are a source of employment for people who work in and manage the forests. From houses to paper to packaging to fuel to furniture to railways, wood products are an irreplaceable part of our daily lives. But those are just the traditional uses of forest products! What about all the surprising everyday items that contain products from wood? Wood cellulose, released when wood is processed into pulp, is used to make ping pong balls, sports helmets, nail polish and synthetic fibres, which are made into clothes and towels – just to name a few. Click Read More below for additional information.
In the wake of the destruction caused by a series of hurricanes that recently hit the Southern United States and the Caribbean, Resolute has stepped up to assist the rebuilding and humanitarian efforts with donations of lumber and tissue products, as well as basic necessities. We are donating, through Habitat for Humanity, a railcar of lumber to Houston, devastated by unprecedented flooding triggered by Hurricane Harvey. The lumber will be used to help rebuild Habitat homes that were damaged, at no cost to the homeowners, as well as for new homes scheduled for construction later this fall and during the spring of next year. The lumber will be shipped from our La Doré (Quebec) sawmill and is scheduled to arrive in Houston by mid-November. We also sent tens of thousands of packages of bath tissue and paper towels from our Calhoun (Tennessee) operation. Click Read More below for additional information.
Chicago-based Darwill will be the first US company to install the Océ ProStream 1000. The company selected the ProStream to fulfill customer demand for high quality color applications on coated stock. Mark Deboer talks about how critical it is to have networking and peer education at events like thINK have helped them get up to speed on the evolving production inkjet ecosystem.
The perfect-bound 132-page standalone issue will offer music lovers the chance to read the definitive story behind the infamous Gallagher brothers, featuring their greatest hits, classic interviews and three exclusive Jill Furmanovsky photo galleries from across her time as Oasis’ chosen photographer, with her own illuminating captions and back stories. Q Legends is a new quarterly special edition that focuses in on the biggest stars to have regularly graced Q since its launch in 1986. Using the huge in-house archive of material available, as well as new insight and rare photography, Q Legends takes an in-depth, luxurious, loving look at a career lived through the pages of Britain’s greatest music magazine. Click Read More below for additional information.
Iraqi forces advanced toward the disputed city of Kirkuk, as the government sharply intensified its efforts to stall moves toward a Kurdish state by seizing the oil fields that would underpin its economy. Crude exports from the disputed area were flowing normally on Monday. State-run Iraqiya television said the military had also captured a refinery, a gas plant and a main road in Kirkuk, which has emerged as a flashpoint in the power struggle between the federal government in Baghdad and the Kurdistan Regional Government. The Associated Press reported that Kurdish fighters had abandoned their positions outside Kirkuk’s airport while civilians were fleeing the city, where sporadic gunfire could be heard. Click Read More below for additional information.
Heidelberger Druckmaschinen AG (Heidelberg) has successfully completed recertification to the new management system standards ISO 9001:2015 and ISO 14001:2015. This means that all production and development locations worldwide together with their marketing, product management, development, procurement, production and service functions as well as their support processes along the entire value chain have been successfully recertified. The audit was carried out by the well-known certification company DQS GmbH (German Organization for the Certification of Management Systems), which for its part is authorized by the national accreditation body DAkkS GmbH (German Accreditation Body) in Berlin. Certification to the international ISO standards has been part and parcel of Heidelberg’s quality and environmental policy for over 20 years. Heidelberg’s goal is to continuously improve all processes related to quality and the environment. This commitment is insisted upon and appropriately supported by the management. Click Read More below for additional information.
More than 19,000 people attended the 2017 SGIA Expo (New Orleans; October 10-12) last week. The show, which took over the Ernest N. Morial Convention Center, featured nearly 600 exhibitors showcasing the most innovative technologies and products in the printing marketplace. “The Expo is always exciting, and not just because it’s the largest printing show in North America,” said SGIA President and CEO, Ford Bowers. “It’s where you go to see and learn about the evolution of the print industry.” The show floor bustled with attendees and exhibitors doing business, with attendees clearly ready to make purchases and add innovation to their organizations. New attendee Nathanial Kastelic, owner of 11th Loop, was here seeking information about eco-friendly textiles and processes. Click Read More below for additional information.
Bookstore sales tumbled 10.9% this August compared to August 2016, according to preliminary figures released by the U.S. Census Bureau on Friday. Sales in August were $1.39 billion, down from $1.56 billion a year ago. The decline is due in part to strong sales last summer of Harry Potter and the Cursed Child. August also includes sales from college stores as students start the fall semester and the decline likely reflects lower sales in those outlets. (August is typically the first or second biggest month for bookstore sales). Click Read More below for additional information.
Embroiled in a pensions dispute since April, 110,000 Royal Mail Communication Workers Union (CWU) members were due to stage a 48-hour walkout from next Thursday (19 October) at 11am, after 89.1% of those who voted opted for strike action, the first major ballot to take place since the new Trade Union Act came into force. Royal Mail said the action would be unlawful if the CWU did not follow dispute resolution procedures and, according to the BBC, Mr Justice Supperstone, who granted the injunction yesterday (12 October), asked that the “defendant withdraw its strike call until the external mediation process can be exhausted”. A Royal Mail statement said that the High Court had ruled that the contractual dispute resolution procedures under its Agenda for Growth be followed before industrial action take place. Click Read More below for additional information.
National Average Price for Regular – Current: $2.481; Month Ago: $2.656; Year Ago: $2.253. National Average Price for Diesel – Current: $2.726; Month Ago: $2.717; Year Ago: $2.412.
American Dollar to Canadian Dollar = 0.801207; American Dollar to Chinese Yuan = 0.151787; American Dollar to Euro = 1.181003; American Dollar to Japanese Yen = 0.008910; American Dollar to Mexican Peso = 0.052739.
Futures added 1.5 percent in New York. China’s crude imports last month jumped to the second-highest on record, customs data show, while U.S. government data on Thursday showed crude inventories fell by 2.75 million barrels last week. OPEC is said to expect a global oil glut will be gone a year from now. President Donald Trump is expected on Friday to disavow a deal with Iran that helped revive its oil exports, while stopping short of abandoning it. Oil has rebounded from the biggest weekly loss since May on signs that output cuts led by the Organization of Petroleum Exporting Countries are draining a surplus. OPEC expects the effort to succeed by the end of the third quarter of next year, said people familiar with the group’s internal forecasts. The prediction assumes that production in Libya and Nigeria will remain at current levels and U.S. shale output will expand by no more than 500,000 barrels a day next year, two people familiar with the matter said. Click Read More below for additional information.
The Hachette Book Group announced Thursday that it is "terminating" the Weinstein Books imprint, effective immediately. The decision follows a New York Times report exposing decades of sexual assault allegations against Hollywood producer Harvey Weinstein, his subsequent removal by the board of the company he co-founded, and scores of celebrities speaking out against him to the press. HBG took over the imprint with its purchase of the Perseus Books Group, which had struck a co-publishing deal with the Weinstein Company in late 2009, through which Weinstein Books had published about 10 titles a year. In its statement, HBG said titles under the imprint will be now published by the Hachette Books imprint, and all Weinstein Books employees will join the Hachette Books team. Click Read More below for additional information.
Electronics For Imaging, Inc. announced that Dome, a commercial print solutions provider headquartered in California, recently purchased EFI™ VUTEk® FabriVU® 340 soft signage and VUTEk 5r roll-to-roll printers. The new high-volume inkjet printers are to be installed in Dome’s newly renovated, Sacramento, Calif., facility by the end of this year. The purchase is part of a strategic re-invention of the company that also includes merging several locations into the new facility, as well as opening new company sales offices in Chicago and Southern California. The two new presses will replace three models from various manufacturers; once installed, Dome’s superwide-format inkjet graphics operation will exclusively use EFI printers. A complete solution for high-volume out-of-home graphics “We are going into uncharted waters for our company, and we don’t need a vendor, we need a partner to help us succeed.” said Dome President Misha Pavlov. “It’s a strategic move, for sure — EFI has invested in us, and us in them.” Click Read More below for additional information.
The fast-paced nature of the digital media cycle (and subsequent marginalization of simple fact checking and copy editing) has raised legitimate questions about outlets placing expediency and traffic surges above taking the time to get things right—yesterday’s wave of premature reports about the death of singer Tom Petty was only the latest example. This phenomenon, coupled with rising paranoia among consumers and marketers around fake news and brand-safe environments, respectively, provides a unique opportunity for trusted and established media brands such as national magazines. At least, that’s the central message of the latest marketing campaign undertaken by the MPA—the Association of Magazine Media. Click Read More below for additional information.
Arandell has been chosen as the recipient of 2 silver awards in this years SAPPI Printer of the Year Competition. The following catalogs: CARTER’S | Oshkosh B’Gosh Back to School 2016 and Neiman Marcus | Horchow October 2016 were selected to be award winners. Sappi’s Printer of the Year awards are regarded as the world’s most respected accolade of excellence in printed communications. Click Read More below for additional information.
UPM was honoured to welcome European Commission Vice President Maroš Šefcovic, responsible for the Energy Union, to the UPM Kaukas Mill site in Lappeenranta Finland today. The visit was hosted by UPM's President and CEO, Jussi Pesonen. During the visit UPM presented its UPM Biofore strategy designed to create sustainable solutions and new innovations from renewable raw materials that provide options to reduce emissions and mitigate climate change. Pesonen called for EU regulation that ensures the right framework for companies to invest and provide innovative solutions to reduce emissions. Click Read More below for additional information.
Walmart and the Walmart Foundation have committed up to $250,000 in support of ongoing relief efforts surrounding wildfires in California. This includes funding for nonprofit grants supporting the America Red Cross and Salvation Army for shelter and feeding efforts, as well as in-kind product donations to support first responders. “As with the devastating fires in Clearlake last year, Walmart is committed to supporting communities in California in times of need,” said Angela Wilson, Walmart regional general manager. “By providing product, support and donations to both first-responders and local nonprofits, we will be able to provide help in the short term and the recovery period after the fires, and we’re proud of our associates who are volunteering their time to help our community get back on its feet.” Click Read More below for additional information.
Staples, Inc. is offering great solutions to save time and money this holiday season, and giving customers more time to enjoy. While Staples stores will be closed on Thanksgiving Day, Staples.com will offer can't-miss deals so customers can fill their carts without leaving their homes. On Black Friday, exclusive in-store deals will begin at 7 a.m. in the majority of locations and where states allow. Visit Staples.com for the most up-to-date location and hours information. Click Read More below for additional information.
On October 10, 2017, Industrial Assets Corp. completed the purchase of Appleton Coated LLC. Industrial Assets Corp. is a California-based corporation specializing in capital financing acquisition and sale of distressed manufacturing companies. Going forward, Appleton Coated will continue limited operations while working with Industrial Assets to secure a strategic buyer that plans to operate at full capacity. To that end, Appleton Coated will be taking/processing orders and has stock of its Utopia, C1S, Reincarnation and Ethos products. Our Customer Service area is available from 7:00 AM CST to 5:30 PM CST to accept inquiries and orders. We look forward to continuing to work with you and thank you for your support and loyalty to Appleton Coated. Click Read More below for additional information.
Neenah Paper, Inc. announced it had signed a definitive agreement to purchase all of the outstanding equity of W.A. Sanders Coldenhove Holding B.V. Coldenhove is a specialty materials manufacturer based in the Netherlands, with a leading position in digital transfer media and other technical products. Coldenhove has annual sales of over $45 million with EBITDA of approximately $6 million. The company's advanced media is a critical component used in dye sublimation, a growing method of digital image transfer. The purchase price is expected to be approximately $45 million, subject to final closing adjustments, and will be financed with available cash and short term borrowings. Closing is expected to occur on November 1, and is subject to customary conditions. Click Read More below for additional information.
Harry & David announced it will operate approximately 20 pop-up stores nationwide this holiday season, in addition to its 46 year-round retail locations. The opening of these pop-up stores, in key market areas across the U.S., will expand Harry & David's store footprint just in time for the biggest gift-giving time of the year. Customers will enjoy an extensive assortment of gourmet food gifts at all Harry & David retail locations, including pop-up stores, featuring many fan favorites such as the iconic Royal Riviera® Pears, truffles, specialty chocolates, Moose Munch® Premium Popcorn, novelty candy, bakery items and an array of signature holiday gift baskets and towers. Click Read More below for additional information.