Huhtamaki has acquired the majority of Tailored Packaging, an Australian foodservice packaging distribution and wholesale group. With the acquisition Huhtamaki gains access to a national network of distribution centers across Australia, allowing it to serve its customers even better and with more agility. Tailored Packaging is a national foodservice packaging distribution and wholesale group, founded in Sydney in 2001 and having sales offices and distribution centers in each state of Australia. Tailored Packaging employs app. 130 people and is one of the largest importers and distributors of foodservice packaging in Australia. Click Read More below for additional information.
Huhtamaki has sold its confectionary trademark portfolio to Highlander Partners, a US based investment firm. Related to the sale, an after taxes gain of approximately USD 16 million will be booked as an item affecting comparability (IAC) during the second quarter of 2018. The sold trademark portfolio was related to Huhtamaki's confectionary business divested in 1996.
Total European shipments of graphic papers in February 2018 were down 3.7% vs. February 2017 and are down 2.7% year-to-date. Total European shipments of newsprint in February 2018 were down 9.0% vs. February 2017 and are down 7.1% year-to-date. Total European shipments of sc-magazine in February 2018 were down 5.2% vs. February 2017 and are down 7.8% year-to-date. Total European shipments of coated mechanical reels in February 2018 were UP 2.6% vs. February 2017 and are UP 4.6% year-to-date. Total European shipments of uncoated mechanical (improved & others) in February 2018 were UP 9.9% vs. February 2017 and are UP 12.3% year-to-date. Total European shipments of coated woodfree in February 2018 were down 7.6% vs. February 2017 and are down 4.4% year-to-date. Total European shipments of uncoated woodfree in February 2018 were down 3.5% vs. February 2017 and are down 4.4% year-to-date. Click Read More below for additional information.
Futures in New York are up 3.7 percent this month, even after a 1 percent drop on Monday, following data that showed an increase in U.S. drilling activity. A potential withdrawal in May by U.S. President Donald Trump from a 2015 nuclear deal between world powers and Iran would reimpose sanctions on the Middle Eastern producer and curb its exports. Meanwhile, OPEC is trimming output even after concluding it has cleared 97 percent of the surplus that has weighed on prices. “Obviously the rig count that came on Friday was quite bearish,” says Torbjorn Kjus, chief oil analyst at DNB Bank ASA. “There’s a lot of profit in the books here for the non-commercials. You shouldn’t be surprised if there’s a $5 flush out and some profit taking.” In the U.S., working oil rigs rose by five last week to 825, the highest level since March 2015, according to data from Baker Hughes. Click Read More below for additional information.
The Postal Regulatory Commission (Commission) issued its analysis of the United States Postal Service (Postal Service) fiscal year (FY) 2017 Annual Performance Report and FY 2018 Performance Plan. Each year, the Commission must review the Postal Service’s performance goals, evaluate whether the Postal Service met those goals in the previous fiscal year, and offer recommendations regarding the protection or promotion of public policy objectives. The Commission’s review finds that, for the first time, the Postal Service’s FY 2018 Plan complies with legal requirements, and the FY 2017 Report meets most of the requirements. The report further provides an in-depth evaluation of the Postal Service’s four performance goals: 1) High-Quality Service, 2) Excellent Customer Experiences, 3) Safe Workplace and Engaged Workforce, and 4) Financial Health, which either did not meet or only partially met FY 2017 targets. Click Read More below for additional information.
Tetra Pak aims to launch a paper straw that is suitable for its portion-sized carton packages before the end of the year, as part of a broader programme to help address the issue of plastic straw waste. Straws play an integral functional role on portion packages, but if not properly disposed of, they then become part of the plastics waste problem. The company has been working to encourage consumers to push straws “back in the pack” once empty, so they can be collected along with the rest of the package. Now, work is under way to develop a paper straw that is suitable for use on its portion-size carton packages. Click Read More below for additional information.
A new survey released by FedEx Office, a leading provider of printing, packing and shipping services and a subsidiary of FedEx Corp., shows that consumers and small business owners find comfort and prefer tangible, printed materials, despite an increasingly digital and on-demand society. More than nine in 10 consumers agreed there will always be a need for printed materials, with almost half (49 percent) of those surveyed saying a world without paper would make them feel stressed or annoyed. In the survey, FedEx Office explored the opinions of consumers and small business owners to learn more about their preferences and purchasing habits regarding professional printing services. Click Read More below for additional information.
Transcontinental Inc.’s Media Sector, TC Media, announced the sale of 30 publications, including 21 weeklies in the Montréal area, the Métro Montréal weekday newspaper, as well as 8 publications in the Québec City area to a Canadian corporation of which Mr. Michael Raffoul, a Montréal-based businessman, is President. The transaction includes all web properties related to the titles sold as well as the Québec Hebdo website. In total, 119 employees of the various publications and 20 employees from TC Media’s Production team are transferred to the acquirer. TC Transcontinental also concluded a multi-year agreement for the printing of all of these titles, as well as for the distribution, with the exception of Métro Montréal, which is already under contract with Mr. Raffoul’s print media distribution company. In addition to the Métro Montréal newspaper, the Montréal-area publications included in this transaction are: Ambiance/Rendez Vous, L’Avenir de l’Est, Cités Nouvelles, Courrier Ahuntsic, Courrier Bordeaux-Cartierville, Corriere Italiano, L’Express d’Outremont – L’Express Mont-Royal, Le Flambeau Mercier-Anjou, Le Guide Montréal-Nord, Le Magazine de l’Île-des-Soeurs, L’Informateur de Rivière-des-Prairies, Journal de Rosemont, Messager Lachine & Dorval, Le Messager LaSalle, Le Messager Verdun, Nouvelles Hochelaga-Maisonneuve, Les Nouvelles Saint-Laurent News, Le Plateau, Progrès Saint-Léonard, Villeray–Parc-Ex Petite Patrie and La Voix Pop. For the Québec City area: L’Actuel, L’Appel, L’Autre Voix, Beauport Express, Charlesbourg Express, Le Jacques-Cartier, Journal Habitation and Le Québec Express, as well as the Québec Hebdo website. Click Read More below for additional information.
The Association of American Publishers (AAP) welcomes the release of the 2018 Special 301 Report by the Office of the U.S. Trade Representative (USTR). The Report highlights key markets in which publishers have significant copyright concerns and face market-access barriers. The Report is a critical tool for policymakers to identify barriers that impede the ability of U.S. copyright owners to compete in foreign markets. The Report notes that the U.S. “remains deeply troubled by the ambiguous education-related exception to copyright that has significantly damaged the market for educational publishers and authors.” This overbroad fair dealing exception for education has led to systematic, uncompensated copying and confusing guidance to courts. Reform is necessary to instill balance into the law and ensure that authors and publishers are appropriately compensated for the use of their works. Click Read More below for additional information.
Total revenues in the first quarter of 2018 were $198.9 million, down 10.1% compared to the first quarter of 2017. Headwinds that impacted advertising included continued declines in print advertising and difficulties faced in retail advertising. Total advertising revenues were $99.9 million, down 16.7% in the first quarter of 2018 compared to the first quarter of 2017. Digital-only advertising revenues grew 21.6% and total digital advertising revenues were up 7.6% over the same period in 2017. Adjusted net loss, which excludes the items above, was $20.3 million. Adjusted EBITDA was $17.4 million, down 24.5% compared to the first quarter last year. Operating expenses were down 10.6% while adjusted operating expenses, which exclude non-cash and certain other charges, were down 8.4% compared to the same quarter last year. Click Read More below for additional information.
Resolute reports on business and sustainability results together – an approach that reinforces our vision that profitability and sustainability drive our future. The 2017 Annual and Sustainability Report features three principal components. The Economic section outlines our corporate business and sustainability strategies, the Environmental section includes updates on our sustainability performance; and the Social section provides insight into our continuous efforts to be a better employer, a stronger business partner, and even more deeply engaged in the communities in which we live and work. I invite you to learn more about Resolute’s rewarding culture by reading the online version of our 2017 Annual and Sustainability Report. Click Read More below for additional information.
First Quarter Highlights • Total loans grew $6.9 billion (9%) from the prior year to $82.7 billion. • Credit card loans grew $5.8 billion (10%) to $65.6 billion, on Discover card sales volume of $30.9 billion. • Total net charge-off rate, excluding purchased credit-impaired ("PCI") loans, increased 48 basis points from the prior year to 3.17% and the total 30+ day delinquency rate excluding PCI loans increased 26 basis points from the prior year to 2.23%. • Consumer deposits grew $4.2 billion (11%) from the prior year to $41.3 billion. • Payment Services transaction dollar volume was $56.1 billion, up 19% from the prior year. Click Read More below for additional information.
Second Quarter 2018 Highlights •Earned $0.86 per diluted share and $0.83 of adjusted earnings per diluted share compared to $0.40 per diluted share and $0.54 of adjusted earnings per diluted share in the prior year quarter, up 115% and 54%, respectively. •Segment EBITDA increased $122 million, or 22%, compared to the prior year quarter. •Corrugated Packaging Segment EBITDA increased 39% compared to the prior year quarter. The segment delivered a Segment EBITDA margin of 18.9% and a North American Adjusted Segment EBITDA margin of 20.5%, up 410 and 460 basis points, respectively, compared to the prior year quarter. •Pulp & Paper Week published North American price increases across all of WestRock’s major grades, including containerboard, SBS, CNK, CRB and URB. •Achieved $64 million in year-over-year productivity and a run rate of $975 million of synergy and performance improvements since the creation of WestRock.. Click Read More below for additional information.
Q1/2018 (year-on-year) · Sales increased by 3.3% to EUR 2 579 (2 497) million, primarily due to favourable prices and the ramp-up of strategic investments. · Operational EBIT increased 72% to EUR 369 (215) million as announced on 13 April, mainly due to favourable prices and mix optimisation combined with continued successful ramp-ups of the strategic investments. · The operational EBIT margin was 14.3% (8.6%), the highest for any quarter since 2001. · EPS was EUR 0.35 (0.14). EPS excl. IAC increased to EUR 0.35 (0.17). · Balance sheet strengthened further and net debt was reduced by EUR 485 million; the net debt to operational EBITDA ratio improved to 1.3 (1.9). Click Read More below for additional information.
1Q18 HIGHLIGHTS • Strong Results: Adjusted EBITDA² of R$1.5 billion and ROIC of 17.4% • Solid performance in the pulp segment: Adjusted EBITDA²/ton of R$ 1,467/ton (+ 103% vs. 1Q17) • Lower cash costs in LTM: R$573/ton, down 5.3% from LTM 1Q17 • Implementation of price increase and recovery of paper segment: Adjusted EBITDA²/ton of R$ 855/ton (+22% vs. 1Q17) • Investments: announcement of the combination with Fibria’s assets • Tissue: integration of operations with Facepa and segmented results as from 2nd half of 2018 • Financial Solidity: reduction in net debt, with leverage ratio of 1.7x Net Debt/ Adjusted EBITDA (in BRL and USD). Click Read More below for additional information.
Net sales increased 43% to $51.0 billion in the first quarter, compared with $35.7 billion in first quarter 2017. Excluding the $1.6 billion favorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 39% compared with first quarter 2017. Operating income increased 92% to $1.9 billion in the first quarter, compared with operating income of $1.0 billion in first quarter 2017. Net income was $1.6 billion in the first quarter, or $3.27 per diluted share, compared with net income of $724 million, or $1.48 per diluted share, in first quarter 2017. Click Read More below for additional information.
First Quarter Summary • Reported sales increased 17%, including the positive effect of currency rates (+10%) • Core sales, excluding currency effects, rose 7% driven by growth in each business segment • Reported net income (8% of net sales) increased 14% to $59 million • Adjusted EBITDA (19% of net sales) increased 17% to $134 million • Reported earnings per share grew 14% to $0.92 and included costs associated with our business transformation ($0.07 per share) • Adjusted earnings per share of $0.99 compared to prior year reported earnings per share of $0.81 (+22%) and to prior year currency adjusted earnings per share of $0.90 (+10%) • Business transformation progressing as planned. Click Read More below for additional information.
National Average Price for Regular – Current: $2.800; Month Ago: $2.621; Year Ago: $2.398. National Average Price for Diesel – Current: $3.054; Month Ago: $2.945; Year Ago: $2.531.
American Dollar to Canadian Dollar = 0.776232; American Dollar to Chinese Yuan = 0.157751; American Dollar to Euro = 1.206695; American Dollar to Japanese Yen = 0.009148; American Dollar to Mexican Peso = 0.053203.
Futures in New York slipped 0.4 percent, on course for a 0.7 percent drop this week. French President Emmanuel Macron earlier this week predicted President Donald Trump will exit the Iran agreement, while U.S. Defense Secretary Jim Mattis said Thursday a decision on a withdrawal hasn’t been made. North Korean leader Kim Jong Un and South Korean President Moon Jae-in agreed to finally end seven decades of hostile relations this year. Oil this month touched the highest level in more than three years as speculation swirled over the potential breakup of the nuclear accord that Iran signed with world powers in 2015. The deal had lifted sanctions on the Islamic Republic, enabling it to boost oil production by about 1 million barrels a day. Investors are also watching global inventories amid signs that production cuts by the Organization of Petroleum Exporting Countries and its allies could continue to deepen while American output soars. Click Read More below for additional information.
U.S. revenue increased 1% and international revenue, led by gains in EMEA and Asia-Pacific, increased 10%. International represented 44% of first quarter revenue. With the exception of U.S. public finance, every major ratings sector delivered revenue growth with the largest gain in structured products. Operating profit increased by 9% to $408 million. The operating profit margin improved 220 basis points to 55% compared to the first quarter of 2017. Adjusted operating profit increased 8% to $408 million. The adjusted operating profit margin improved 190 basis points to 55%. Click Read More below for additional information.
“We welcome Spectrum Printing & Graphics to the growing Two Sides network and look forward to working with them to promote the unique sustainable features of print and paper. Our membership now includes several commercial printers from family-owned businesses to large operations – they have been instrumental in educating their stakeholders about the great environmental story of print,” said Two Sides North America President, Phil Riebel. "Getting the facts straight about the positive story that the paper and printing industries have related to the environment and the economy is very important to us – it has been misunderstood for years. We are excited to help Two Sides convey an accurate message to the marketplace, our customers, employees and vendors," says Andrew Berman, President, Spectrum Printing & Graphics.
Printing Papers operating profits in the first quarter of 2018 were $64 million versus $136 million in the fourth quarter of 2017. In North America, the benefits from increased sales prices and a favorable mix were more than offset by higher planned maintenance outages and higher input costs related to transportation and energy. In Brazil, seasonally lower sales volumes and an unfavorable geographic and product mix exceeded the benefits from higher sales price realizations. In Europe and Russia, earnings decreased due to higher planned maintenance outage costs, higher input costs and lower sales volumes, partially offset by improved pricing. Industrial Packaging operating profits in the first quarter of 2018 were $437 million ($464 million excluding special items) compared with $609 million ($614 million excluding special items) in the fourth quarter of 2017. In North America, strong demand in box and export containerboard markets, along with price realization, were more than offset by seasonally lower sales volume, production constraints due to weather related disruptions and maintenance outage costs. Click Read More below for additional information.
LSC Communications has embarked on a new strategic relationship with international academic publisher Taylor & Francis Group, a division of Informa plc, to provide print, fulfillment and distribution services. According to Dave McCree, President of Book Sales at LSC Communications, “We are very excited about the opportunity to work with Taylor & Francis. LSC has been diligently focused on creating a scalable, customizable and fully integrated supply chain model for publishers that brings efficiencies to the next level, and we will continue to innovate new ways to support Taylor & Francis and our other global publishing clients.” Click Read More below for additional information.
U.S. Packaging net sales of $666.0 million for the first quarter of 2018 represented an increase of 2.6 percent compared to the same period of 2017. The increase in net sales was driven primarily by sales price and mix partially offset by lower unit volumes of approximately 1 percent. Lower unit volumes were driven by the Company’s planned shutdown of its Shelbyville, Tennessee facility. U.S. Packaging operating profit increased to $87.2 million in the first quarter of 2018, or 13.1 percent of net sales, compared to $83.5 million, or 12.9 percent of net sales, in 2017. The increase in U.S. Packaging operating profit was driven by improved operations and cost savings from the Company’s Agility plan. Click Read More below for additional information.
As the world leader in label papers, UPM continues to grow in the attractive release liner segments to support its customers globally. Steady growth is expected to continue in all markets driven by favourable economic conditions and strong increase in specialty paper demand for labelling, packaging and e-commerce as well as in medical and hygiene applications. To strengthen its position UPM will rebuild paper machine 2 at its Nordland mill in Dörpen, Germany and convert it from fine paper to glassine paper production. The machine will be equipped with new finishing equipment and starts producing glassine paper as of Q4 2019. The planned capacity after the rebuild will be 110,000 tonnes per year. The total investment in Nordland is EUR 116 million. The production of woodfree papers on PM2 in Nordland will continue until Q3 2019 and the machine will be producing both glassine and woodfree paper during the ramp-up phase. Click Read More below for additional information.
UPM Paper Europe and North America (ENA) business area will be renamed UPM Communication Papers as of 26 April 2018. The new name underlines the industry focus and global reach of the business area. It further highlights UPM's long-term commitment to sustaining its global graphic paper business, building on the view that paper will continue to be an important part of the media mix in the publishing industries and business communication. UPM Communication Papers is a world leading producer of graphic papers, offering an extensive product range for advertising and publishing as well as home and office uses. We serve our customers through a global sales network providing quality papers, strong services and an integrated supply chain. Our papers are produced in 15 paper mills in Austria, Finland, France, Germany, the UK and the USA. Click Read More below for additional information.
Q1 2018 highlights •Comparable EBIT increased by 17% to EUR 355 million (305 million in Q1 2017). •Sales prices increased in all business areas, outweighing the impact of higher input costs and unfavourable currencies. •Operating cash flow was EUR 208 million (396 million), including an increase in working capital. •Net debt decreased to EUR 41 million (807 million). Click Read More below for additional information.
Underscoring the need for long-overdue freight rail reform, American Forest & Paper Association (AF&PA) President and CEO Donna Harman urged the United States Senate to quickly confirm the nominations of Patrick Fuchs and Michelle Schultz to the U.S. Surface Transportation Board. The Senate Committee on Commerce, Science and Transportation approved the nominations on Wednesday, April 25. “As one of the largest manufacturing sectors in the nation, the paper and wood products industry relies on the nation’s rails to move millions of tons of materials to production mills and final markets. Revoking the outdated commodity exemption policy and addressing harmful service failures and higher pricing will help ensure the accessibility of effective, streamlined and competitive rail service to our companies all rail customers. We thank the committee for its approval and urge the Senate to quickly confirm Mr. Fuchs and Ms. Schultz.”
Bertelsmann continues to expand its educational activities in Brazil: The international media, services and education group is now the majority stakeholder in Affero Lab, having acquired the shares of the remaining founders of the Brazilian training company. IFC, a member of the World Bank and ALAC, a fund managed by IFC Asset Management Company, will remain minority shareholders. The partners have agreed not to disclose the financial details of the deal. Affero Lab is the biggest player in Brazil’s corporate training sector and offers digital solutions for learning as well as classroom-based and blended training solutions for companies. Around 500,000 people use its services every year. The company employs approximately 450 people mainly in São Paulo and Rio de Janeiro. Bertelsmann had already acquired around 40 percent of the shares in Affero Lab in 2015 and is now increasing its stake in a second step. Click Read More below for additional information.
Global learning company Houghton Mifflin Harcourt (HMH) announced today a partnership with education nonprofit City Year to launch HMH Classroom Corps, a unique multi-tiered program that provides employees with opportunities to connect with teachers and students in schools across the United States. Part of the company’s Corporate Social Responsibility program, HMH Classroom Corps will connect employees with local City Year chapters to host Learning Forums—interactive events focused on helping students build literary and math skills through hands-on activities. In March, HMH employees across three offices participated in the inaugural Learning Forums at P.S. 75 School of Research and Discovery in New York City, the Lake View YMCA in Chicago, and the Curtis Guild Elementary School in Boston. Volunteers guided elementary school students through literacy and STEM activities, including assembling geometric shapes using marshmallows and toothpicks, conducting volcano experiments, and performing short plays from HMH’s Readers’ Theater collection. Each student was able to select from hundreds of donated HMH books to take home. Click Read More below for additional information.
The company reported net sales of $48.2 million in the first quarter of 2018, up 36.5% compared to the year-ago period. Converted product sales were $43.6 million, a year over year increase of 32.7%, and parent roll sales were $4.6 million, up 86.8% over the first quarter of 2017. The increase in converted product sales was a result of the company ramping new customer volume at the Barnwell facility. Parent roll growth was driven by an increase in the volume of excess parent rolls sold from Barnwell. Orchids had a first quarter operating loss of $1.0 million in 2018 and a loss of $0.9 million in the first quarter of 2017. The increase in the operating loss was driven by SG&A increasing to $3.6 million in the first quarter of 2018, up $1.0 million from $2.6 million in the year-ago period. Click Read More below for additional information.
Unit sales of traditionally published e-books fell 10% in 2017, compared to 2016, according to figures released by PubTrack Digital, part of the NPD book group. The service, which tracks sales from about 450 publishers, said e-book unit sales hit 162 million last year, down from 180 million units in 2016. NPD reported that combining print sales from its BookScan service with PubTrack digital sales, e-books accounted for 19% of total units (both print and digital) last year, down from 21% in 2016. The top selling e-book among the trade publishers, it reported, was The Handmaid's Tale published by Houghton Mifflin Harcourt. Click Read More below for additional information.
JANUARY 1 – MARCH 31, 2018 (compared with the year-earlier period) •Net sales increased 11% to SEK 4,400m (3,972). Sales growth was mainly related to higher prices in the industrial units. •EBITDA rose 47% to SEK 1,175m (797). The improvement in EBITDA was mainly related to higher prices in Wood, Pulp and Kraftliner, and an improved market and product mix. •EBITDA margin increased to 26.7% (20.1) •Earnings per share amounted to SEK 1.00 (0.52) •Operating cash flow, which excludes strategic capital expenditures, rose to SEK 591m (85). Strategic capital expenditures amounted to SEK 634m (515) and relates to the Östrand investment which proceeds according to plan. Click Read More below for additional information.
For the total company in 1Q 2018: ◦Total revenue increased 10% to $17.1 billion, on strong demand for UPS solutions. ◦Average yield increased by 4.3%, led by International and U.S. Deferred Air products. ◦UPS rewarded shareowners by increasing dividends per share by nearly 10% over the prior year, and distributing $840 million during the quarter. ◦To support investment strategies the company made capital expenditures of $1.5 billion. ◦The lower effective tax rate reflects a more competitive U.S. tax structure, some discrete tax items and includes the impact of share-based compensation. Click Read More below for additional information.
First Quarter 2018 Highlights • Revenue increased 0.8% year-over-year, driven by Small Business Services growth of 2.7% which includes the results of several small tuck-in acquisitions. Financial Services revenue was flat compared to the prior year. • Gross margin was 61.6% of revenue, compared to 63.2% in the first quarter of 2017. The impact of product and service mix and increased delivery and material costs this year, as well as acquisitions, was only partially offset by previous price increases and continued improvements in manufacturing productivity. • Operating income increased 3.2% year-over-year. Adjusted operating income, which excludes restructuring, integration and transaction costs, as well as asset impairment charges, in both periods, increased 0.9% year-over-year primarily from price increases and continued cost reduction initiatives, partially offset by the continuing decline in check and forms usage. Click Read More below for additional information.
Please be advised that Resolute Forest Products will raise the price of its uncoated freesheet Connect grades effective with shipments on or after June 1, 2018. This increase will apply to all basis weights, and includes all upcharges.
In the Packaging segment, total corrugated products shipments with one less workday were up 6.0% and shipments per day were up 7.7% over last year’s first quarter. Containerboard production was 953,000 tons, and containerboard inventory was down 23,000 tons from the fourth quarter of 2017 and up 31,000 tons compared to the first quarter of 2017, primarily due to the addition of recently acquired Sacramento Container. In the Paper segment, office paper and printing and converting paper sales volumes were up 33,000 tons compared to the first quarter of 2017, and production volume was up 10,000 tons primarily due to no scheduled maintenance outages in the first quarter of 2018. Click Read More below for additional information.
The Group's comparable net sales growth was 5% with all segments making good progress. Comparable growth in emerging markets was 8%. In absolute terms growth was strongest in Eastern Europe, India, and Middle East and Africa. The Group's reported net sales declined and were EUR 725 million (EUR 739 million). The Group's reported earnings declined but in comparable currencies the Group's earnings improved slightly compared to the previous year. Foodservice Europe-Asia-Oceania segment's earnings increased significantly as a result of sales growth and operational efficiency. Fiber Packaging segment's earnings grew as well, while earnings in Flexible Packaging and North America segments declined. Click Read More below for additional information.
Label and Graphic Materials Segment: • Reported sales increased 11.8 percent. Sales ex. currency increased 4.2 percent; on an organic basis, sales grew 3.6 percent. Sales on an organic basis increased mid-single digits in Label and Packaging Materials and increased low-single digits in the combined Graphics and Reflective Solutions businesses. • Reported operating margin decreased 30 basis points to 12.3 percent, reflecting the impact of restructuring actions. Adjusted operating margin increased 20 basis points to 13.0 percent as the benefits of increased volume and productivity more than offset higher employee-related costs and the net impact of pricing and raw material costs. Click Read More below for additional information.
Adjusted EBITDA totaled R$1,824 million in 1Q18, 8% less than in 4Q17, due to lower sales volume, to the higher cash COGS effect, in turn impacted by the higher production cash cost, partially offset by the higher average net price of pulp in dollars. The EBITDA margin stood at 55% excluding the sale of pulp from Klabin and 49% including this effect. The 1Q18 net financial result was negative by R$270 million, versus a negative R$781 million in 4Q17 and a positive R$331 million in 1Q17. The variation from 4Q17 and 1Q17 was chiefly due to the lower exchange rate effect on the debt position and the hedge result. As a result of all the above, Fibria reported 1Q18 net income of R$615 million, versus net income of R$280 million in 4Q17 and R$329 million in 1Q17. Click Read More below for additional information.
Oil edged higher on Wednesday, nearing three-year highs reached the previous day, as rising U.S. fuel inventories and production weighed on an otherwise bullish market. Weekly data on Tuesday that showed a rise in U.S. crude inventories also subdued the oil price somewhat. The prospect of fresh sanctions on Tehran and disruption to the country’s oil flows has helped push the oil price to its highest since late 2014 this month.
Highlights * Q1, 2018 adjusted operating income of $238.7 million driven by historically high lumber prices and record-high pulp and paper earnings; record-high sales of $1.23 billion * Adjusted net income of $145.4 million, or $1.13 per share * Net debt of $96.8 million, or 4.3% net debt to total capitalization, at March 31, 2018. Click Read More below for additional information.
*Operating profit for January–March was SEK 653 million (January–March 2017: SEK 627 million). Operating profit includes a forest property sale of SEK 70 million. Prices for paper and wood products increased, wheras costs for wood and other input goods rose. *Compared with the fourth quarter of 2017, profit was SEK 232 million higher, mainly as a result of income from the forest property sale and due to that fourth-quarter earnings were affected by a maintenance shutdown. *Profit after tax for January–March amounted to SEK 507 million (485), which corresponds to earnings per share of SEK 6.0 (5.8). Click Read More below for additional information.
Irving Pulp and Paper as well as Irving Tissue on the west side of Saint John is underway with a $40 million investment with an impact across NB. Eighty-four (84) New Brunswick companies will be working on the modernization, accounting for $29 million of the investment. These suppliers are located across New Brunswick. The project is scheduled for completion on May 14, 2018. This project is also going to provide hands-on learning experiences for the workforce of the future – over twenty-five co-op students from the University of New Brunswick, Dalhousie University, Memorial University in Newfoundland & Labrador as well as the New Brunswick Community College (NBCC). This new investment brings environmental benefits. Today, the pulp mill is already 95% green energy. This upgrade will improve energy use and further reduce the site's carbon footprint. Click Read More below for additional information.
Luxury packaging printer JohnsByrne has installed the Eagle Systems Cold Foil system to better serve their client base and increase their ability to innovate. Founded in 1959, the organization remains a family-owned operation, with founder, John B. Gustafson’s four sons: Corey, Jack, Mike and Pate, running the business as President, COO and Executive Vice Presidents, respectively. “We are a very client-centric, customer-focused operation,” said Corey Gustafson. “We look at the marketplace, and look for ways to provide solutions to problems our customers are having, and new ways to enhance their current product lines. We try to be very proactive about getting in front of our clients’ needs and the available technology, and the Eagle Systems Cold Foil system proved to be a great compliment to our offering; it was the right fit, at the right time.” He noted that while they have, and continue to offer, hot stamping technologies, there were some applications where that process wasn’t a perfect fit. They could find a way to get it done, but Cold Foil, said Corey Gustafson, “gives us a great deal of flexibility, now, and nuance to our offerings. We can provide different solutions to the same problem, to find the one that best suits the project, product and customer. It’s a different tool in our belt.” Click Read More below for additional information.
Net sales for the first quarter of 2018 were $1.01 billion, an increase of $206.9 million, or 25.7 percent, as compared to $805.4 million in 2017. This increase was the result of the acquisition of the Dispensing Systems operations in April 2017 and higher net sales in each of the businesses. Income before interest and income taxes for the first quarter of 2018 was $92.2 million, an increase of $35.4 million, or 62.3 percent, as compared to $56.8 million for the first quarter of 2017, and margins increased to 9.1 percent from 7.1 percent for the same periods. Click Read More below for additional information.
The Coalition for Paper Options (CPO) – the only stand-alone coalition devoted exclusively to protecting citizen access to paper-based information – proudly welcomes its newest members: the Association for Print Technologies (formerly NPES) and the Idealliance. These new members have joined with Printing Industries of America, the American Forest & Paper Association, the Envelope Manufacturers Association and a host of individual corporations in the paper manufacturing, printing and mailing industries as financial supporters of the Coalition for Paper Options’ efforts to protect access to paper-based resources and information. “By supporting the Coalition for Paper Options, the paper, printing and mailing industry is speaking out in a loud and unified voice against government efforts to limit access to important paper-based information,” said John Runyan, executive director of the Coalition for Paper Options. “Our coalition, however, is not just about industry, as evidenced by a wide range of consumer, senior, and rural groups which are also active members. We are all united in making sure that our nation embraces technology without penalizing citizens who still need or prefer traditional access to paper-based services offered by government and the private sector.” Click Read More below for additional information.
R.R. Donnelley & Sons Company announced the release of its SuperDoc web statement enhancement. This technology transforms static business statements into interactive dynamic customer communications. Developed by RRD’s Business Communications Solutions (BCS) unit, the SuperDoc enhancement acts as a secure website add-on that embeds customer-facing PDF statements, bills, policies, letters, and other transactional communications with entirely new dimensions of interactivity and activated content. This latest offering from RRD is designed to help organizations across a variety of industries increase their eAdoption rate. The SuperDoc enhancement provides consumers with a variety of widgets that grant a higher level of interactivity than paper statements, such as: • Compare balances month-to-month, quarter-to-quarter, and year-to-year • Search transactions by date, vendor, amount paid, and more • Use payoff and financing calculators • Access local data like weather history, property values, and more • Model future bills • Learn about upgrade details and special offers. Click Read More below for additional information.
Canadian Pacific Railway Limited has reached an agreement with both the Teamsters Canada Rail Conference-Train & Engine (TCRC) and the International Brotherhood of Electrical Workers (IBEW), which averts the potential work stoppage of 12:01 am Eastern time tomorrow, April 21, 2018. On the recommendation of federal mediators, the Minister of Labour will direct the Canadian Industrial Relations Board to administer a ratification vote on each of the company's final offers to the TCRC and IBEW. Click Read More below for additional information.
Effective with shipments on or after June 1, 2018, Midwest Paper Group will be increasing prices on Ethos Offset, Ethos Offset 30% PCRF and Ethos Offset 100% PCRF. The increase applies to all basis weights, finishes and private label grades.
Please be advised with shipments on June 1, 2018 Suzano Pulp and Paper will increase prices by 6% to 8% on the following products: Suzano Branded and Private Label Office Papers; Paperfect Offset Rolls and Sheets, Prisma Bright Offset Rolls and Sheets. All current standard upcharges and terms of sale remain in effect until further notice.
Please be advised that Rolland will increase our prices by 5% to 7% USD on the following products, effective with shipments on or after May 25th, 2018. Rolland Enviro® Print;Rolland Enviro® Satin;Rolland Enviro® Book & Schoolbook; Rolland Opaque®; Rolland Kraft®; Rolland Enviro® Digital; Rolland Enviro® Jet; Rolland Hitech®; Rolland Enviro® Copy; ReproPlus®; New Life® Envelope; Rolland Kraft® Envelope; All specialty papers and private label grades; Price increases apply to all rolls, folio and cut size. All standard upcharges will remain unchanged.
Highlights: • For the first quarter 2018, the Company recorded earnings from continuing operations of $0.59 per share (diluted). This was on the upper end of management guidance of $0.55 to $0.60 per share. • Net sales were $1.7 billion, an increase of nearly 8 percent compared to the prior year, due to higher prices and favorable currency translation. Total glass container shipments in the first quarter of 2018 were comparable to the prior year quarter, with low-single-digit gains reported in the Americas. • Earnings from continuing operations before income taxes were $135 million, compared with $73 million in the prior year, driven by solid operational performance and non-recurrence of certain expenses in the prior year. Click Read More below for additional information.
UPM Biofuels' continuous efforts for a more sustainable supply chain and operations has been recognized by the world's first RSB (Roundtable of Sustainable Biomaterials) low ILUC (indirect land use change) risk certification. The certificate was received for crude tall oil, the feedstock used for UPM BioVerno renewable fuels production at the Lappeenranta Biorefinery in Finland, and for UPM's cultivation of the Brassica carinata oil crop in Uruguay. The RSB low ILUC risk certification is an additional proof of sustainability for UPM Biofuels, showing that the company's use of crude tall oil and Brassica carinata oil for biofuels production has a low risk of causing indirect emissions elsewhere. The low ILUC risk RSB certification places UPM Biofuels' raw materials, crude tall oil and Brassica carinata oil in the category of most sustainable feedstocks. Click Read More below for additional information.
“We applaud the Administration for reflecting long-standing scientific principles and Congressional direction in recognizing as carbon neutral the paper and wood products industry’s use of renewable biomass for energy production. We are one of the largest manufacturing sectors in the nation, eager to strengthen the economy and boost U.S. job creation with the support of public policy that levels the playing field with competitors around the globe. This new EPA policy is an important milestone in implementing the Congressional directive to produce clear and simple policies and acknowledges the scientific record on the carbon neutrality of forest-based, renewable biomass. We look forward to working with EPA as it develops regulations to fully implement this policy.”
Ahlstrom-Munksjö has entered into an agreement to acquire MD Papéis’ Caieiras specialty paper mill in Brazil of the Formitex Group, an industrial conglomerate active in the paper, chemicals and panel board industries. Ahlstrom-Munksjö has entered into an agreement to acquire MD Papéis’ Caieiras specialty paper mill in Brazil of the Formitex Group, an industrial conglomerate active in the paper, chemicals and panel board industries. Click Read More below for additional information.
Q1/2018 highlights (vs Q1/2017 proforma): • Net sales EUR 572.4 million (EUR 566.9 million), an increase of 1.0%. In constant currency growth was 5.9%, driven by higher selling prices. • Continued good demand across most markets • Comparable EBITDA EUR 66.7 million (EUR 79.4 million), representing 11.7% (14.0%) of net sales in an environment of significant raw material cost escalation • Net profit EUR 21.2 million (EUR 24.2 million).
“Prices are being driven up by tight supply due to high production outages in Venezuela plus the cuts implemented by OPEC and Russia,” said Carsten Fritsch, analyst at Commerzbank. “What is more, demand appears robust.” The United States has until May 12 to decide whether to quit a nuclear deal with Iran and reimpose sanctions against the third-largest producer in the Organization of the Petroleum Exporting Countries, tightening global supplies. OPEC’s supply curtailments and the threat of new sanctions are occurring as demand in Asia, the biggest oil-consuming region, has risen to a record. Click Read More below for additional information.
For the fourth 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. According to a letter received from Kevin Banas, Green Masters Program Director, BPM is also in the running to achieve the highest rank as a Green Master, to be announced the end of October with Masters level certificates given out in person at the annual conference in December. “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 of 20% over last year, the BPM team has worked hard for this impressive accomplishment.” Click Read More below for additional information.
Students from area schools will join together to recognize Earth Day by picking up trash, litter and garbage to make area communities cleaner. For the past seven years, BPM has donated garbage bags and gloves for area students. Schools and organizations which have volunteered to clean up surrounding areas of school grounds and communities include Central Elementary, Coleman Elementary and Middle, Lena Public, M&M Love Where You Live Volunteers, Marinette Middle and High, Merryman Elementary, Oconto Falls Elementary, Oconto Middle, Park Elementary, Peshtigo Elementary and Middle High, St. Thomas Aquinas Academy and Suring Public. With the excellent response and interest, the company provided bags and gloves to 15 schools and organizations for an estimated 2100 students, teachers and volunteers. “The Earth Day Clean Up is a community event we look forward to every year,” said Mitchell Mekaelian, VP of Sales and Marketing. “Since 2009, BPM has coordinated the donation and partnerships with area schools. Year after year, we receive positive feedback from teachers and students. This is a hands-on way to have kids involved in making a difference within the community in which they live.” Click Read More below for additional information.
Net Sales increased 39% to $1,476.0 million in the first quarter of 2018, compared to $1,061.5 million in the prior year period. The $414.5 million increase was driven by $359.5 million of revenue from the SBS mill and foodservice converting assets, $25.5 million of improved volume/mix related primarily to acquisitions, $24.0 million of favorable foreign exchange, and $5.5 million of higher pricing. EBITDA for the first quarter of 2018 was $187.6 million, or $35.3 million higher than the first quarter of 2017. After adjusting both periods for business combinations and other special charges, Adjusted EBITDA increased 43% to $230.8 million in the first quarter of 2018 from $160.9 million in the first quarter of 2017. Click Read More below for additional information.
Monadnock Paper Mills, Inc. introduces Monadnock Archival line of cotton and high alpha fiber papers and boards for printing, presentation and preservation of fine artworks, photographs and important documents. •Archival Facing & Backing Papers •Archival Mat & Mounting Boards •Archival Liner Board & Mediums •Coated Fine Art Inkjet/Giclee Papers •Archival File Folder •Fine Printing and Envelope Papers. Monadnock combines its fine printing and technical/specialty expertise to create high performance papers that meet ANSI longevity standards. These superior quality papers are groundwood-free, alkaline pH and lightfast (per Standard and Color Photo Activity Tests). Monadnock’s archival art and conservation papers and boards/solids meet ISO 9706 and ANSI Z 39.48-1992 (Permanence of Paper for Printed Library Materials) standards. Click Read More below for additional information.
Solenis, a leading global producer of specialty chemicals, will increase prices by five to 30 percent on all process chemicals, effective immediately or as customer contracts allow. The price increases are due to increases in key raw material costs, escalating freight costs and decreased market availability of several raw materials. “We are committed to delivering high-value, innovative solutions to help customers maximize their productivity,” said Varun Ratta, Senior Vice President, Product and Pricing Management. “While these price increases are necessary for us to reliably supply and support our customers, we’ll continue our efforts to help mitigate these increases and control their costs with beneficial process improvements.”
In the midst of technological advances, essential reading and writing skills are being somewhat lost in the process of keeping up with the latest ‘trend’. More than a quarter (26 percent) of American adults admit to not having read even part of a book within the past year. That's according to statistics coming out of the Pew Research Centre. Science supports the idea that reading is good for you on several levels. Reading fiction can help with an open-mind and creative thinking - According to research conducted at the University of Toronto, study participants who read short-story fiction experienced far less need for "cognitive closure" compared with counterparts who read nonfiction essays. Essentially, they tested as more open-minded, compared with the readers of essays. "Although nonfiction reading allows students to learn the subject matter, it may not always help them in thinking about it," the authors write. Click Read More below for additional information.
Effective with all new and existing orders with confirmed delivery dates of May 19, 2018 or later, Verso Corporation is increasing the transaction price of all Uncoated Freesheet Grades, including but not limited to: Ideal® Offset; Ideal® Reply Card; Ideal® Enhanced Tablet; Ideal® Tablet. The increase applies to all basis weights, bulks, finishes and related private label grades.
Glatfelter is announcing a price increase for the listed grades and product lines sold in our United States market. The increase will be effective with shipments on or after May 21, 2018. The increase will be 4-8% for the following items: Moistrite® Form Bond; Worthington Index; Glatfelter End Leaf; Moistrite® MICR Colors; Index Card; Natures® End Leaf; Transform®Laser MOCR; Tiffin Tag; Glatfelter Offset; Spring Forge® Offset; Scioto™Ledger; Natures® Book; Spring Forge® Digital; Sealer Envelope; Conserve®; Thor® Plus & Thor® PCW; Carbonizing Bond; digiBOOK®; Hopewell Offset; Adena Opaque®; All Envelope grades; Pixelle® Ink Jet Uncoated Repro Bond; All Cut Size Papers (Mill/Private Label). All current standard differentials and upcharges remain in effect.
Effective with shipments on or after May 20, 2018, Flambeau River Papers will increase the transaction prices for the following grades of paper: • FRP Converting and Envelope Papers • FRP Specialty Papers • FRP Glacier and Torchglow Opaque and Pastel Papers • FRP Reply Card Papers • FRP Index, Vellum Bristol and Tag Papers • FRP Tradebook and Endleaf Papers • FRP InkJet Papers • FRP MOCR and Ledger Papers • FRP 100 Papers. All current standard upcharges and differentials will remain in effect.
Effective with shipments May 21, 2018, International Paper will increase prices by 5% to 7% on the following products: Printing Papers o All Williamsburg o All Accent® Opaque o All Springhill®. Office Papers o All Hammermill® o All Hewlett Packard® o All Private Label o Generic White Box o Relay. Postmark® Envelope; DataSpeed® Laser MOCR; By George®. This increase applies to all virgin, recycled and treated products. We are also increasing our standard basis weight price differentials on all Envelope and Laser MOCR products as follows: 20lb over 24lb: $2.00/cwt 22lb over 24lb: $1.00/cwt. Additionally, the freight stop off charge will increase from $300 to $500. All other standard upcharges will continue to apply. Orders acknowledged prior to April 20, 2018 will ship at the pre-increase price.
Effective with shipments May 21, 2018, Boise Paper will raise prices by USD 6% on private label and branded office papers, printing papers, and converting papers. • X-9® • ASPEN® • Boise POLARIS® • FIREWORX® • Essential Copy®, Essential 30®, and Essential Bright® • Boise® Copy • Xerographic Paper (rolls and sheets) • Boise® Offset • Boise® ASPEN® Offset • Boise® Opaque • Boise® White Wove Envelope • Boise® ASPEN® Wove Envelope • Boise® FIREWORX® Wove Envelope • Boise® Kraft Envelope • Ledger • Index • All other converting products • All corresponding private label products. All minimums, up-charges and shipping policies remain unchanged.
Effective with shipments on or after May 15, 2018 Finch Paper will be increasing prices on commercial printing and converting grades in all pack types by 5% to 7% on the following grades: Finch Fine; Finch Fine ID; Finch Fine Color Copy; Finch Opaque and Finch Opaque Digital; Finch Casa Opaque; Finch 94 & Finch 94 Digital; New Leaf Ingenuity and Harmony; Finch Offset, Finch Index and Tag; Finch Reply Postcard 7 pt. and 9 pt.; Finch ThruPut Wove and Finch ThruPut Advantage; Finch Image DME and Finch Deluxe DME; Finch Forms Bond; Finch MOCR Laser; Finch Engineering Bond and CAD Inkjet Bond; Finch Inkjet Products including Digital Web XP, Mailstream, Smartbook Jet, Opaque Jet; Finch Pub Book; Finch Office Papers including all Finch mill and private-label brands; Finch Technical Specialty grades including label facestock and other digital grades.
Effective with shipments on or after May 20, 2018, Navigator North America will be increasing prices by 5% to 7% for: Navigator Premium Inkjet, Soporset Premium Opaque Offset (Text & Cover & Digital) in sheets and sSheeter rolls and all cut-size office papers including Navigator, Pioneer and Discovery. Also implementing a freight surcharge of $2.00/cwt for shipments to CO, NM, OR, WA, NV and AZ and a $4.00/cwt freight surcharge for shipments to ID, UT, WY, MT, SD and ND.
Total printing-writing paper shipments decreased five percent in March compared to March 2017. U.S. purchases of printing-writing papers decreased seven percent in March. Total printing-writing paper inventory levels decreased two percent from February 2018. Imports of printing-writing papers increased six percent compared to February 2017 imports, while exports increased five percent compared to February 2017. •Coated mechanical (CM) paper shipments declined year-over-year for the tenth consecutive month. Imports of CM increased 21 percent compared to February 2017. Exports of CM decreased five percent in February compared to the same month in 2017. •Shipments of coated free sheet (CFS) paper in March declined year-over-year. U.S. imports of CFS papers increased two percent year-over-year in February. Exports of CFS papers decreased five percent year-over-year in February. •Uncoated free sheet (UFS) paper shipments in March 2018 decreased year-over-year for the first time in 2018, following two months of year-over-year increases; meanwhile, shipments of uncoated mechanical (UM) papers decreased year-over-year in March 2018 for the 21st consecutive month.
Total boxboard production decreased 1.9 percent when compared to March 2017 but increased 5.2 percent from last month. Unbleached Kraft Boxboard production increased over the same month a year ago but decreased compared to last month. Total Solid Bleached Boxboard and Liner production increased when compared to March 2017 and increased compared to last month. The production of Recycled Boxboard decreased compared to March 2017 and increased when compared to last month.
Ahlstrom-Munksjö has decided on two investment projects, totaling EUR 9 million, both with attractive financial returns. This supports Ahlstrom-Munksjö’s strategic ambition to maintain a leading position in selected niches of the global fiber-based solutions market that offer positive growth outlook and are supported by sustainable market drivers. In the Decor business area, the company will invest about EUR 5 million to further enhance the quality of pre-impregnated decor papers produced at its Dettingen plant in Germany. Through the investment, which will be completed by the end of 2018, Ahlstrom-Munksjö will be able to strengthen its leading position in pre-impregnated decor papers. In the Specialties business area, the company will invest about EUR 4 million to rebuild a converting line of sterilization wrap being produced at its Pont Audemer plant in France. The material is e.g. used for protecting medical garments and sterilizing instruments. The investment includes installing a new sheeter and folding line as well as automated wrapping and boxing of the finished goods. Through the investment, which will be completed by the second quarter of 2019, the business will improve its competitiveness through higher efficiency and shorter lead times.
Futures in New York dropped as much as 0.8 percent after data showed American drillers added five working oil rigs last week, stoking fears over surging U.S. output. The May oil contract gained 1.5 percent last week before expiring Friday as OPEC producers said supply curbs should continue in order to revive investments in oil and gas production. In the U.S., explorers have added 23 rigs so far this month, bringing the total working rigs to 820 last week, Baker Hughes data showed. The nation’s crude production has more than doubled from the lows of a decade ago, topping 10 million barrels a day each week since early February.
As we kick off the FSC US Forest Management (FM) Standard revision process, FSC US is looking for several consultants to apply their knowledge and experience. We have identified areas of work needed to address issues identified by stakeholders, in combination with requirements embedded in the revised FSC Principles & Criteria (Version 5) and associated International Generic Indicators. Materials, analysis and recommendations developed by these consultants will inform the efforts of the FM Revision Working Group in the following areas: •Protections for Indigenous Peoples and their rights; •Family Forest indicators and guidance and associated terminology used in the standard; •FSC US Region boundaries and regional requirements. Click Read More below for additional information.
Sales of $4.7 billion in the first quarter of 2018 were up 5 percent compared to the year-ago period. Changes in foreign currency exchange rates benefited sales by 3 percent. Organic sales improved 2 percent, as volumes increased 3 percent while net selling prices were down 1 percent. In North America, organic sales increased 3 percent in consumer products and 2 percent in K-C Professional. Outside North America, organic sales rose 2 percent in developed markets and 1 percent in developing and emerging markets. First quarter operating profit was $247 million in 2018 and $848 million in 2017. Results in 2018 included $577 million of charges related to the 2018 Global Restructuring Program. First quarter 2018 adjusted operating profit was $824 million. Results were impacted by $175 million of higher input costs, driven by a $105 million increase in pulp and a $45 million increase in other raw materials. The operating profit comparison was also affected by lower net selling prices. Click Read More below for additional information.
The University Press of New England’s Board of Governors has voted to close the press at the end of 2018. The Lebanon, N.H.-based press has 25 employees and distributes books for Dartmouth and Brandeis University. In a statement, Dartmouth president Phil Hanlon said, “The press has become unsustainable to operate with only two member-institutions.” Founded in 1970 as the University Press of Northern New England, the consortium was originally led by longtime publisher and Dartmouth alum Victor Reynolds. Under Reynolds, it grew to include members from all six New England states and was renamed the University Press of New England (UPNE). Click Read More below for additional information.
Please be advised that, effective with shipments June 1, 2018, the US transaction price for the following grades from Catalyst Paper will be increasing for new and existing orders of Electracal® & Electraprime®. This increase applies to all basis weights, finishes and grade extensions.
The company reported net sales of $437.0 million for the first quarter of 2018, essentially flat with net sales of $437.5 million for the first quarter of 2017. Net earnings determined in accordance with generally accepted accounting principles, or GAAP, for the first quarter of 2018 were $2.6 million, or $0.16 per diluted share, compared to net earnings for the first quarter of 2017 of $7.5 million, or $0.45 per diluted share. Earnings before interest, taxes, depreciation and amortization, or EBITDA, were $35.4 million for the first quarter of 2018, compared to $48.1 million for the first quarter of 2017. Adjusted EBITDA for the quarter was $39.8 million, down 19.3% compared to first quarter 2017 Adjusted EBITDA of $49.3 million. Click Read More below for additional information.
Net sales were SEK 5 897 million (5 636), an increase of 5% mainly as a result of increased selling prices. EBITDA was SEK 1 065 million (923), an increase of 15% mainly as a result of increased selling prices, which were partly offset by higher wood prices. Adjusted EBITDA was SEK 1 102 million (938), an increase of 17%. The adjusted operating margin was 12% (10%). Adjusted operating profit was SEK 729 million (572), an increase of 27%. Earnings per share amounted to SEK 2.40 (1.94). Click Read More below for additional information.
National Average Price for Regular – Current: $2.751; Month Ago: $2.558; Year Ago: $2.422. National Average Price for Diesel – Current: $3.025; Month Ago: $2.928; Year Ago: $2.537.
American Dollar to Canadian Dollar = 0.790046; American Dollar to Chinese Yuan = 0.158944; American Dollar to Euro = 1.230345; American Dollar to Japanese Yen = 0.009292; American Dollar to Mexican Peso = 0.054088.
Oil fell in New York after U.S. President Donald Trump criticized OPEC and said crude prices are “artificially Very High.” The comments came as the Organization of Petroleum Exporting countries and allies including Russia showed willingness to further tighten oil markets and boost prices. Oil has rallied in recent weeks as output cuts from OPEC and its allies were compounded by heightened geopolitical risks, including the possibility of renewed U.S. sanctions on Iran. Meeting in Jeddah, a committee of OPEC and other oil producers found high levels of compliance with the production curbs. Still, there’s capacity for prices to rise beyond this week’s three-year high, according to Saudi Energy Minister Khalid Al-Falih, who said cooperation between producers would continue into 2019. Click Read More below for additional information.
Following extensive dialogue with international packaging converters and brand owner partners, Flint Group is positioned to revolutionise printing and colour management with VIVO Colour Solutions. With increasing demands from global brand owners for colour equity across geographies and packaging substrates, Flint Group’s Paper & Board business segment has developed a solution that can truly, and reliably, meet the colour management needs of all stakeholders in the package print value and supply chain. VIVO Colour Solutions is a family of products and services with its foundations dating back to 2010 when Flint Group started to compile the essential elements of a robust and dynamic colour communication and service platform. Click Read More below for additional information.
A protracted erosion in “print” media ad spending may be bottoming out, thanks in large part to the growth of digital. According to a new forecast released by Jack Myers TomorrowToday, a surge in demand for digital “print-originated” advertising will offset declines in “legacy print” -- the kind published in actual print -- by 2021. That digital will become print’s savior is a little more than ironic, since it was the explosion of content available via digital media that originally set analogue media-- especially print-- on a downward trend in terms of advertising demand. Click Read More below for additional information.
Newspapers across the country could be thinner or even disappear in the near future as news executives nationwide wrestle with disruptions in paper supplies and new tariffs on newsprint. Tariffs as high as 32 percent have been placed on imported newsprint from Canadian paper mills as the U.S. Commerce Department and the International Trade Commission investigate complaints of unfair trade practices leveled against Canadian suppliers by a Washington state-based paper company. Tariffs have driven up the cost of newsprint, a commodity that already has seen prices increase over the years because of high demand and low supply. Newsprint is generally the second-highest cost for newspapers after payroll. Click Read More below for additional information.
Net sales for the first quarter were $1.30 billion, an increase of $131.9 million, or 11.2 percent, from last year’s quarter. The improvement reflects an increase in sales added by acquisitions, the positive impact of foreign exchange, higher selling prices implemented to recover rising freight, wages and operating inflation, and modest volume growth. Gross profits were a record $250.6 million in the first quarter, an increase of $27.6 million or 12.4 percent, compared with $223.0 million in the same period in 2017. Gross profit as a percentage of sales increased to 19.2 percent, compared with 19.0 percent in the same period in 2017. The gross profit percentage increase was primarily due to manufacturing and procurement productivity mostly offsetting higher raw material and other operating costs. Click Read More below for additional information.
Select subscribers to People will receive an additional title in their mailboxes today: the debut issue of HelloGiggles the magazine—a print counterpart to the millennial-focused lifestyle brand co-founded by Zooey Deschanel and acquired by Time Inc. in 2015. Meredith Corp., which says the publication is slated to come out twice a year, distributed an initial run of 500,000 copies to People subscribers aged 18 to 39. Like its online content mix, the magazine will be geared toward millennial women with a focus on beauty, fashion, and pop culture. Click Read More below for additional information.
Metsä Board is delighted to announce it has won the 2018 Luxe Pack Shanghai ’in green’ Award with its SkinCare 2.0 gift box Design. Created by Metsä Board’s packaging design team, the new SkinCare 2.0 gift box uses fibre based materials to replace plastic. The outer rigid box is made with a new pulp molding process. Each of three cartons are made of lightweight paperboard and offer a unique opening and reclosing experience combined with maximum runnability performance on automated packaging lines. Cyril Drouet, Design and Innovation Director at Metsä Board, comments; “We are extremely pleased with the recognition that the SkinCare 2.0 gift box design is currently getting globally. It is a great example of how we want to inspire packaging designers and brand owners with new innovative solutions in packaging design and using renewable materials.” Click Read More below for additional information.
Total Packaging Papers shipments were down 6.6 percent compared to March 2017 and down 6.5 percent year-to-date. Bag & Sack shipments were down 8.3 percent year-to-date. Multiwall shipments were down 12.6 percent. Converting shipments were down 2.8 percent and Food Wrapping shipments remained essentially flat. The operating rate for March decreased to 87.4 percent from 88.5 percent in February. Inventories were up 1.4 percent since February.
Containerboard production was up 3.5 percent compared to March 2017 and up 0.5 percent year-to-date. The month-over-month average daily production compared to February 2018 was 3.5 percent higher. The containerboard operating rate was 97.4 percent or 0.7 percentage points higher than the same month last year. Production for exports was 3.3 percent lower than March 2017 and 6.7 percent lower year-to-date.
Net sales in the first quarter were $2,197 million compared to $1,901 million in the first quarter of 2017 reflecting increased beverage can volumes, the pass through of higher material costs to customers, and $121 million of favorable currency translation impact. Income from operations was $221 million in the quarter compared to $225 million in the first quarter of 2017. Segment income increased to $245 million in the first quarter compared to $226 million in the prior year first quarter and included $12 million of favorable currency translation impact. Click Read More below for additional information.
Supreme Court Justices Anthony Kennedy, Neil Gorsuch and Clarence Thomas had already indicated they favored overturning Quill before the case was heard. On Tuesday, Justice Ruth Bader Ginsburg suggested she would join them, calling the ruling “obsolete,” according to Yahoo Finance. Ginsburg said letting states tax online sales would equate to “equalizing sellers.” But Supreme Court Justices Sonia Sotomayor and Samuel Alito said the decision on ecommerce taxation should be left up to Congress, Yahoo reported. Sotomayor said the lack of a mechanism for collecting taxes directly from consumers was the real problem, not the Quill ruling. Click Read More below for additional information.
Net sales for the fourth quarter of fiscal 2018 decreased 3.1% to $512.2 million, compared to $528.4 million for the fourth quarter of fiscal 2017. Company comparable sales on a 13-week basis decreased 7.5% versus the year-ago period. Gross profit for the fourth quarter of fiscal 2018 totaled $189.7 million, or 37.0% of net sales, compared to $206.9 million, or 39.2% of net sales, for the fourth quarter of fiscal 2017. Click Read More below for additional information.
The Combined Locks paper mill formerly home to Appleton Coated will begin doing business under the name “Midwest Paper Group”. The new entity was established by Industrial Assets and Maynards after their October 2017 purchase of substantially all the assets of Appleton Coated LLC. The company restarted the facility in December. After the purchase, Industrial Assets took note of the highly experienced and dedicated workforce and focused on upgrading the mill’s production capabilities and fiber handling systems. “We have a made a significant investment in this mill and community. We are grateful for our customers, vendors and the team onsite which has allowed the company to continue its tradition of producing some of the highest quality paper in the industry.” said Steve Mattes, CEO of Industrial Assets Corp. Click Read More below for additional information.
Two Sides North America has released the first of three engaging new infographics on Why do so many people love print on paper? The first of three infographics focuses on the fact that the majority of Americans feel that print on paper is safe and secure, sustainable and trusted. “Overall the survey results are very positive in favor of print and paper, in some cases surprisingly so. Although we regularly hear corporations tout going digital or “paperless” as safe, secure and more green – this is clearly not a shared opinion by a large majority of the public who seem to trust paper for many applications,” says Phil Riebel, President Two Sides North America. Click Read More below to download a copy.
Please be advised that, effective with shipments on or after June 1, 2018, Resolute Forest Products will raise its SC paper prices. The products impacted by the price increase include, but are not limited to, the following: ResoluteSCA+; ResoluteSCA; ResoluteSCB; ResoluteSNC. The increases will be applicable to all basis weights and finishes, and all up charges apply.
Effective with all shipments from May 16, 2018, North Pacific Paper Corporation (NORPAC) will increase the price of our Natural Choice and Natural Choice 30 cut-size papers. All standard up-charges and shipping policies remain in effect.
Barnes & Noble, Inc. announced that James Comey’s A Higher Loyalty is the top-seller in stores nationwide and online at BN.com just one day after the book’s release. “A Higher Loyalty was an instant bestseller before it ever arrived in our stores,” said Liz Harwell, Senior Director of Merchandising, Trade Books at Barnes & Noble. “Now that it’s here it is flying off the shelves. It’s one of the best pre-publication rollouts we’ve seen in many years, due to all of the publicity surrounding the book ahead of its publication yesterday.”
On April 16, Catalyst Paper Corporation curtailed production on paper machine 11 at the Powell River mill in response to a shortage of fibre and United States tariffs on uncoated groundwood paper. When it announced the action, Catalyst stated the curtailment would last until May 7. No layoffs are expected as a result of the curtailment and employees affected are being moved to other duties at the mill.
R.R. Donnelley & Sons Company announced new financial reporting segments to align with recent changes to its global operating structure. Effective with the first quarter of 2018, RRD will report its results under two new segments: Marketing Solutions, a preeminent provider of multichannel marketing activation programs, and Business Services, a premier global provider of business communications services. RRD Marketing Solutions leverages an integrated portfolio of data analytics, creative services and multichannel execution to deliver comprehensive, end-to-end solutions that drive marketing ROI. RRD’s key capabilities include: • Data Management • Advanced Analytics • Creative Services • Online Channels • Offline Response • Onsite Services. RRD Business Services provides customized solutions at scale to help clients inform, service and transact with their customers with reduced complexity and increased efficiency. RRD’s key capabilities include: • Commercial Print Services • Customized Customer Communications • Product and Brand Communications • Business Process Services. Click Read More below for additional information.
Futures in New York rose 2.9 percent on Wednesday. An Energy Information Administration report showed shrinking American petroleum surpluses and the first crude withdrawal from the largest U.S. storage complex in six weeks. The U.S. draw-downs underlined optimism that an OPEC-led effort to curb global supplies will be reinforced later this week when the cartel and allied producers gather in Saudi Arabia. The EIA reported U.S. crude stockpiles dropped 1.07 million barrels last week, while supplies at the Cushing, Oklahoma, pipeline hub dropped by 1.12 million. Gasoline supplies fell 2.97 million barrels and distillate stocks slid 3.11 million barrels to the lowest level since November. Click Read More below for additional information.
First Quarter Operating Highlights: Consolidated net sales of $799 million in the first quarter of 2018 increased by $33 million, or 4 percent compared to $766 million for the 2017 first quarter. The increase in net sales is primarily due to higher prices, partially offset by lower sales volume. The Company sold 662,000 tons of paper during the first quarter of 2018 compared to 699,000 tons a year earlier. Net income of $33 million for the 2018 first quarter increased by $27 million, or 446 percent, compared to the 2017 first quarter. The higher earnings primarily reflects: •Higher selling prices and a better product mix of $48 million, •Favorable productivity of $10 million mainly due to higher mill production, •Lower recycled fiber costs of $6 million. Click Read More below for additional information.
Publisher Springer Nature has confirmed it intends to list its shares on the Frankfurt Stock Exchange, targeting funds of approximately €1.2bn to strengthen its financial profile. The date of the initial public offering (IPO) has not been disclosed but the Financial Times suggests it is likely to take place in around four weeks. The company said it had group revenues of €1.64bn in 2017 and an underlying growth rate of 2.5% on an organic constant currency basis. Click Read More below for additional information.
On the heels of one of the most successful years in National Geographic magazine’s 130-year history, the iconic print publication is introducing (video HERE) a bold new redesign, with new visual story forms, thought-provoking essays, and even more stunning photography. The May issue, on print newsstands April 24 and available online at ngm.com, explores and illuminates the frontiers of our world, from the depths of the ocean to the frontlines of culture, always with an eye for understanding the people, places, and ideas that shape our planet. Through dynamic new sections, type faces, premium paper stock, and more of the breathtaking photography that has engaged audiences for over a century, the iconic yellow border will continue to offer a portal to the farthest reaches of the Earth and beyond. Click Read More below for additional information.
Komori America recently completed the installation of a six-color Lithrone GX40 (GLX640) at Nosco, a full-service packaging solutions provider serving a roster of household brands in a variety of industries. Headquartered in Gurnee, IL, Nosco is a subsidiary of Holden Industries, Inc., which is a 100 percent employee-owned company. Nosco became familiar with the advanced technology and reliability Komori presses deliver when the company acquired two companies that were already operating Komori presses. Understanding value, total cost of ownership and product lifecycle management are important to Nosco when investing in conventional print technology. Through its recent company acquisitions, Nosco gained an enlightened first-hand experience with Komori’s low maintenance, minimal downtime and productivity performance, leading to the selection of the GLX640 over competitive machines being considered. “We have aggressive growth targets and with this press we are able to meet them,” said Russ Haraf, president of Nosco. “We looked at several options, even some used options. We chose a new Komori Lithrone GX40 because Komori’s value proposition is aligned with an industry where the product lifecycle is changing rapidly." Click Read More below for additional information.
While the Internal Revenue Service (IRS) processes tax returns and begins implementation of tax reform, the agency continues its march to leave millions of taxpayers without easily accessible instructions to file tax returns. In 2011, the IRS discontinued mailing tax forms and the Tax Instruction Guide for individuals (Publication 17) to the public. In addition, they ended the long practice of equipping libraries or post offices with the printed instruction booklet. The only place to find the instructions on paper is through the Government Publishing Office, where a hard copy version can be ordered for $10. These changes took place without Congressional oversight or public input. Click Read More below for additional information.
As the U.S. Supreme Court evaluates whether online retailers should collect sales taxes, industry groups continue to urge the court to overturn the tax break adopted in the pre-Internet era. On Tuesday, the court heard oral arguments on a 2016 South Dakota law that requires online merchants with more than $100,000 in sales to state residents, or 200 transactions with state residents, to collect sales tax. The law was struck down last year by South Dakota’s highest court, which cited the Supreme Court’s 1992 Quill Corp. v. North Dakota decision. In that case, the justices said online sellers can only be required to collect sales tax in states where they have a physical presence such as a store, office or warehouse. Part of their reasoning was that there were more than 6,000 state and local sales tax jurisdictions across the country and that the regulations were too complex for a seller to know how much to collect unless they were doing business locally. Click Read More below for additional information.
April 17, 2018 could be the day that transforms the way online retailers operate when the U.S. Supreme Court will hear the case South Dakota v. Wayfair Inc., et al. The court is expected to announce its decision in June. The case could overturn the 26-year-old precedent, established in Quill Corp. v. North Dakota, when the court ruled that Quill, a catalog retailer, did not have to collect sales tax in North Dakota because it had no physical presence in the state. South Dakota aims to overturn that precedent to force retailers to collect sales tax on online purchases regardless of whether they have a physical presence—such as a store or distribution center—in the state. Click Read More below for additional information.
Klabin has published the Public Summaryof the 2017 Forestry Management Planforits forestry operations in the region of Angatuba in the interior of São Paulo state. The Summary outlines the company’s efforts to promote adequate management of its forests, the indicators of its social and environmental actions and investments made in line with its Sustainability Policy. One of the highlights in the period was the inauguration of the Rolim Rosa Community Center in Angatuba. The Community Center will host educational and cultural activities, music and dance workshops, as well as cooking and fitness classes. Developed and executed by Klabin as social compensation for the city, the project benefits over two thousand residents of Jardim Elisa Volpi and Residencial Vital Rolim Rosa. Click Read More below for additional information.
For the fourth quarter of 2017, total revenue increased by $4.1 million, or 12.9%, to $35.4 million from $31.4 million for the same period of the prior year. The increase in total revenue was mainly due to increase in ASP and partially offset by decreases in sales volume across all product categories. Production of tissue paper was suspended in September and October for the replacement of coal boilers, and began intermittent production in the following months. In addition, we decreased the production volume of regular CMP, light-Weight CMP and offset printing paper and sales of these products due to environmental conditions in Northern China. Total gross profit decreased by $3.9 million, or 52.1%, to $3.6 million for the fourth quarter of 2017, from $7.5 million for the same period of the prior year. Overall gross margin was 10.2% for the fourth quarter of 2017, compared to 24.0% for the same period of the prior year. Gross margins for regular CMP, light-weight CMP, offset printing paper, and tissue paper products were 8.9%, 10.0%, 16.5%, and 5.8%, respectively, for the fourth quarter of 2017, compared to 23.2%, 28.8%, 25.1%, and 11.0%, respectively, for the same period of the prior year. Click Read More below for additional information.
Sappi North America has released its 2017 Sustainability Report showcasing its industry leading sustainability performance. The report includes up-to-date information on the company's progress against five year goals measuring environmental, economic and social responsibility commitments as well as providing insights into its continued technical innovation. "Sappi North America is committed to a holistic approach to sustainability. We believe that we best create sustained value for our customers, communities, employees and shareholders by committing to the right actions across our operations and company, from improving operating efficiencies, reducing waste, to investing in our employees and our mills," said Mark Gardner, President and CEO, Sappi North America. Click Read More below for additional information.
An upgrade of the mill, which is in South West France, was successfully completed in March following a three-week shutdown and included the implementation of a new pulp washing line, and a complete overhaul of the black liquor recovery boiler. SKG next plans a series of improvements to the paper machine No. 5 commencing in 2019 which, on completion, will increase its production capacity of white top kraftliner from 174,000 tonnes to 220,000 tonnes per annum, and further enhance the quality of this premium product. Click Read More below for additional information.
Subject to Bankruptcy Court approval, a joint venture composed of the holders of the Company's 8.0% Second Lien Secured Notes due 2021 and Great American Group, LLC and Tiger Capital Group, LLC will acquire the inventory and certain other assets of the Company. A hearing by the Bankruptcy Court to approve the sale and wind-down of the Company's operations is scheduled for April 18, 2018. Bill Tracy, President and Chief Executive Officer, said, "While we are disappointed by this outcome and tried very hard to identify bidders interested in operating the business as a going concern, we are committed to working constructively with the winning bidder to ensure an orderly wind-down of operations that minimizes the impact of this development on our associates, customers, vendors and the communities we serve. We are incredibly grateful to all of our associates for their dedicated service to Bon-Ton and to our millions of loyal customers who we have had the pleasure to serve as their hometown store for more than 160 years." Click Read More below for additional information.
UPM will be increasing the transaction price of our Supercalendered (SC) grades, effective with all new and existing orders with confirmed delivery dates on or after June 1, 2018. This increase includes all basis weights and finishes of Eco; Impresse; Impresse Plus; Max; Cat; Smart
We herewith announce a price increase of 3 - 6% for our high-speed inkjet and office paper business in the USA and Canada. Specifically we will increase • DNS® premium starting for all deliveries 1 June 2018 • MAESTRO® special with starting for all deliveries 1 July 2018 • DNS® high-speed inkjet and all NEUJET® grades starting for all deliveries 1 July 2018. This increase is necessary due to continuous and drastic fiber price increases, transport cost rises and general inflation in other cost positions.
Effective with shipments May 16, 2018, transaction pricing for the following products will increase approximately 5%-7% in the US and Canada: • Printing and Publishing grades • Domtar Reply Card Rolls and Sheets • EarthChoice® Colors Multipurpose, Hots Text and Cover, Index, Tag and Vellum Bristol • EarthChoice® Opaque Offset 30% Rolls and Sheets • EarthChoice® Tradebook • Husky® Opaque Offset Rolls and Sheets • HuskyJET® Rolls including processed rolls • Lynx® Opaque Ultra Rolls and Sheets • Converting grades • Engineering Laser Bond • Enterprise Postal Advantage™ • Laser Forms Bond including processed rolls and box forms • White Wove Envelope • Business Papers • Business Papers products including all Domtar mill, private label brands and custom cut sheet products • Xerox® Vitality®, Bold Professional™, Bold Digital™ and Revolution™ products. Price increases apply to all pack types; rolls, folio and cut size. All current standard differentials and upcharges remain in effect.
Effective with all shipments on or after Monday, June 1, 2018, Nekoosa Coated Products will increase prices on all carbonless paper and supplies sold in the United States and Canada by 8%. This includes: • All Carbonless Sheets and Rolls • All Carbonless Supplies.
Effective with all shipments on 5/18/2018 or later, regardless of order date, the price of Port Hawkesbury Paper SC grades will be increased in the US and Canadian markets. This includes all Artisan® Plus, Artisan®, Prominence® Plus, Prominence®, and Maritime® grades. This price increase applies to all basis weights plus all related private label grades and associated brand extensions.
Effective with all shipments from May 16, 2018, North Pacific Paper Corporation (NORPAC) will increase our price of Uncoated Freesheet. This includes our Offset, Wove and Cut-Size grades. All standard up-charges and shipping policies remain in effect.
Resolute Forest Products Inc. announced that a tentative four-year agreement has been reached with Unifor, subject to ratification by their members. Unifor represents the majority of hourly employees working across the company's Canadian pulp and paper operations. The master agreement covers eight of Resolute's Canadian pulp and paper mills. The agreement applies to the Amos, Baie-Comeau, Dolbeau, Gatineau, Kénogami and Saint-Félicien facilities in Quebec, as well as the Thunder Bay mill and currently indefinitely idled Thorold operation in Ontario. Click Read More below for additional information.
The American Catalog Mailers Association (ACMA), a trade group whose members rely heavily on a healthy national postal service, applauds President Trump’s recent formation of a task force to craft recommendations to reform the US Postal Service and return it to a durable business model. Meaningful change will require Congress to pass postal reform legislation. History has shown that reform initiatives are always difficult to get enacted into law and are virtually impossible without broad support from the key stakeholder groups (postal customers, postal management and postal labor groups). Any meaningful recommendations need the support from as many of these stakeholders are possible. The ACMA hopes the Task Force work will include hearing all of these perspectives and needs. Click Read More below for additional information.
Arandell Corp. announced that Stephen Sanfelippo has joined the Executive Management team as the company’s Senior Vice President of Sales and Marketing. He will oversee the development, implementation and execution of Arandell’s sales growth strategies, product and service offerings, and new business opportunities. “Steve is a terrific addition to the company, bringing extensive multi-plant industry experience as an accomplished catalog and retail sales executive,” said Bradley J. Hoffman, president and chief executive officer of Arandell Corporation. “He is uniquely qualified to help us introduce our customers to the expanded capabilities enabled by our new Kentucky facility and our strategic partnership with Continental Web Press.” Click Read More below for additional information.
Three magazines were earned Pulitzer Prize winners Monday afternoon as part of the 102nd class of honorees, the fourth since the nation’s top journalism honors were first expanded to include glossies in addition to newspapers. The New Yorker‘s Ronan Farrow—whose reporting on Harvey Weinstein’s history of sexual assault and cover-ups were integral to the subsequent national discourse around the #MeToo movement—shared honors in the Public Service category with New York Times reporters Jodi Kantor and Megan Twohey. Last month, Farrow’s work similarly earned The New Yorker a National Magazine Award for Public Interest. Elsewhere in the 2018 class, GQ can now call itself a Pulitzer Prize winner. Click Read More below for additional information.
The USA TODAY NETWORK is celebrating three 2018 Pulitzer Prizes in the categories of explanatory journalism, local reporting and editorial writing. The Arizona Republic | USA TODAY NETWORK won for explanatory reporting for its project “The Wall: Unknown Stories, Unintended Consequences,” The Cincinnati Enquirer staff won for local reporting with “Seven Days of Heroin,” and The Des Moines Register’s Andie Dominick won for editorial writing. Click Read More below for additional information.
U.S. nonstore sales grew at a slightly slower clip in March than they did in February, new monthly data from the U.S. Commerce Department shows. What the agency calls “nonstore sales” reached $55.475 billion in March on a seasonally adjusted basis, a 9.7% increase compared with $50.573 billion in the same month of 2017. That’s a slightly lower increase than in February, when nonstores sale grew 10.2%. Click Read More below for additional information.
To the Sierra Nevada Brewing Co. sustainability is not simply an initiative, it is integral to every aspect of its operations. The company has won numerous local, state and national awards for its efforts and its Chico, California, headquarters has onsite wastewater treatment and composting facilities as well as the largest solar installation of any craft brewer. Sierra Nevada has taken another step in its sustainability journey - diverting thousands of pounds of nitrile gloves from its manufacturing waste stream through The RightCycle Program from Kimberly-Clark Professional. Since 2016, the company has diverted more than 6,800 pounds of gloves, equivalent to the weight of more than 450 bowling balls. Click Read More below for additional information.
Meredith Corporation and Magenta launch Fortune Italy. The magazine will be distributed in Italy, Switzerland and Montecarlo, and will cover a range of topics from the economy and politics, to technology, startups and innovation. Through a license agreement with Meredith Corporation and Magenta, Fortune Italy will be published monthly in Italian. Fortune Italy will include features from the U.S edition of the magazine, as well as original content from its staff in Italy. Fortune Italy Senior Editor Fabio Insenga will lead the editorial staff and coordinate a team of internal editors and 25 contributors and correspondents. The magazine's first print edition will be available on newsstands June 2, 2018. Click Read More below for additional information.
Local 2-482 of the United Steelworkers (USW) union is calling on the Wisconsin state Senate to hold an immediate vote on a legislative subsidy package designed to keep two Kimberly-Clark manufacturing plants in operation. Kimberly-Clark, a multinational personal hygiene and paper product giant, announced in late January that it would shut down 10 plants around the world and eliminate 5,500 jobs. Those cuts included the plants in Neenah and Fox Crossing, Wis. Since then, the USW has been gathering information and meeting with company and state officials in an effort to preserve good jobs and keep the plants in operation. Click Read More below for additional information.
Pub chain JD Wetherspoon has decided to quit it’s micro-blogging site, alongside Instagram, Facebook and Twitter with immediate effect. The company closed down its Twitter and Facebook accounts, which had 44,000 and 100,000 followers, respectively, as well as its Instagram feed, for all of its 900 pubs and head office. It added that recent concerns regarding the misuse of personal data, following the Facebook scandal, and the addictive nature of social media had influenced its decision. Tim Martin, Chairman of the pub chain told the BBC he believes that this action will not affect the business. In fact, after much consultation, more than 90% of the pub managers felt that using social media was not helping the business and the idea of social media as an essential tool to advertising was simply untrue. Click Read More below for additional information.
The Covington Paperworkers Union says they have ratified the WestRock offer after a vote Thursday. This means that the union has agreed on a new contract that was presented by union representatives for the papermill's workers. 94 percent of the eligible members voted, with 54 percent in favor for the new contract. It is the first new contract offered to WestRock workers in Covington since 2010.
UPM Formi 3D is a new type of biocomposite that has been specially developed for 3D printing. It brings together advanced cellulose fibre and biopolymer technologies. With a matte finish and a surface that feels natural to the touch, filaments for 3D printing can be produced in light colours as well as dark. The new material has been engineered to flow smoothly through small nozzles enabling fine details. At the same time, UPM Formi 3D's fast cooling and low shrinkage ensures improved dimensional stability and makes it the ideal material for large scale printing. Click Read More below for additional information.
In the continuing escalation in his attack on Amazon, President Donald Trump issued an executive order yesterday for the establishment of a federal task force, led by Treasury Secretary Steven Mnuchin or his designee, to investigate the finances of the U.S. Postal Service (USPS), which has lost more than $65 billion during the past 11 consecutive fiscal years. The special commission is expected to submit a report on its findings and recommendations within 120 days. Some pundits argue that President Trump's tweets against the online retail juggernaut are politically driven, given that Amazon CEO Jeff Bezos also owns the Washington Post, which has been highly critical of Trump and his policies. Trump's ongoing public statements and tweets against Amazon, and how the online retailer is destroying the traditional brick-and-mortar retail industry, have negatively impacted Amazon's stock price. The main drag on USPS finances, in reality, has been the mandate that it pre-fund its retiree health care obligations to the tune of more than $38 billion. For the first time, last year the Postal Service missed payments it owes to the federal retirement system, for a combined total of $6.9 billion. Click Read More below for additional information.
Oil last week rose to levels last seen in 2014 amid growing geopolitical risks, with investors anticipating that retaliation against Assad would threaten production in the region, while tensions between Saudi Arabia and Iran-backed rebels in Yemen also added to concerns. Still, surging U.S. output continues to weigh on investor sentiment even as the International Energy Agency says the Organization of Petroleum Exporting Countries is close to reaching its target of eliminating a global crude glut. Meanwhile, in the U.S., working oil rigs rose by seven last week to 815, the highest since March 2015, according to data from Baker Hughes. The rig fleet has expanded in 10 of the past 12 weeks. The expansion came after the Energy Information Administration data showed that American oil production rose to a fresh record of 10.5 million barrels a day. Click Read More below for additional information.
The collection, presented under the slogan "Creaset ENDLESS POSSIBILITIES", comes in two unique A5 envelopes printed on CreatorSilk 300 g/m2 coated semi-matte paper. Each envelope contains printed samples of all the papers in the collection together with images of the final applications illustrating the numerous label and packaging possibilities that the Creaset range offers. The entire Creaset range is manufactured with ECF woodfree pulp and is produced in accordance with ISO 14001 and EMAS environmental management standards, ISO 50001 energy management standard, ISO 9001 quality management standard and OHAS 18001 occupational safety and health management standard. In addition, it is all available with PEFCTM and FSC® Chain-of-Custody forest certifications upon request.
John Wiley and Sons Inc. is pleased to announce a partnership with the March for Science, a global nonpartisan movement that highlights the critical role science plays in improving our lives, understanding our world, and informing policymaking in communities across the world. On April 14, 2018, more than 220 cities around the world will host marches where scientists and supporters of science can come together. At the rally in Washington, D.C., Wiley is sponsoring a tent on behalf of the National Council for Science and the Environment. Longer-term, Wiley will support Vote for Science, a new program that seeks to secure the long-term funding of science policy, by providing access to scholarly and scientific content. Wiley is proud to support these two organizations and the work they do to improve the impact of research in communities around the world. Click Read More below for additional information.
On April 5, a nine-person jury found an importer and reseller of counterfeit textbooks guilty of copyright and trademark infringement, and in breach of a previous cease and desist order. The lawsuit was filed by the Educational Publishers Enforcement Group against Book Dog Books and Robert William Management and their owner, Philip Smyres. In its decision, the jury awarded EPEG, which is comprised of Cengage, Pearson Education, John Wiley, and McGraw-Hill Education, a total of $34.2 million in damages, with $20 million for trademark infringement and $14.2 million for copyright infringement. Click Read More below for additional information.
Due to continuing cost increases of pulp and other raw materials, Sappi reports that it is increasing its Dye Sublimation and Large Format Inkjet paper prices as from 1 May 2018. The increase will be five to eight percent for all Dye Sublimation grades and six to nine percent for the Large Format Inkjet papers. The price rise will apply to all European and Overseas markets.
Sonoco announced it has completed the acquisition of Highland Packaging Solutions, a Plant City, Fla.-based, leading manufacturer of thermoformed packaging for fresh fruits, vegetables and eggs found in the fast-growing perimeter of retail supermarkets. Sonoco acquired the privately-held Highland for approximately $150 million in cash. Highland’s financial results will be added to Sonoco’s Consumer Packaging segment, and the business will operate within the Company’s Global Plastics division. Click Read More below for additional information.
Stora Enso’s operational EBIT for the first quarter of 2018 was approximately EUR 369 million. This is well above the earlier guidance for the Q1 2018 operational EBIT. Sales for the first quarter of 2018, amounting to approximately EUR 2 579 million, were similar to the fourth quarter 2017 sales of EUR 2 511 million. The result was better than expected, mainly due to: · The good pricing environment in Paper and Containerboard (Packaging Solutions) · Higher volumes at Consumer Board division’s European mills · Continued strong operational performance. Click Read More below for additional information.
Established by APRIL Group in 2013, RER is an ecosystem restoration programme that works to protect and restore ecologically important peatland forest within Indonesia’s Riau Province. Located on Sumatra’s eastern coastline, RER is comprised from five government ecosystem restoration licenses totalling 150,000 hectares of peatland forest, with 130,000 hectares located on the Kampar Peninsula and an additional 20,000 ha located on nearby Padang Island. The restoration area at Kampar Peninsula is twice the size of Singapore. Another notable highlight was the discovery of the restoration area’s 300th bird species. Known as the Blue-winged Pitta (Pitta Mollucensis), it joins several IUCN-listed endangered or rare species, and now means that representatives of 18 per cent of Indonesia’s bird species have found safe haven inside RER. Click Read More below for additional information.
National Average Price for Regular – Current: $2.697; Month Ago: $2.523; Year Ago: $2.405. National Average Price for Diesel – Current: $2.991; Month Ago: $2.934; Year Ago: $2.530.
American Dollar to Canadian Dollar = 0.795985; American Dollar to Chinese Yuan = 0.159242; American Dollar to Euro = 1.231320; American Dollar to Japanese Yen = 0.009286; American Dollar to Mexican Peso = 0.055218.
Sears Holdings is set to shutter its last remaining store in Chicago. The news was first reported by The Chicago Tribune, which said the store, located on the edge of the Portage Park neighborhood, will close in mid-July, with a liquidation sale scheduled to start April 2. Sears was based in Chicago for more than 100 years. The store, which opened in 1938, was one of 265 properties sold to Seritage Growth Properties in a 2015 sale-leaseback deal, the report said. Click Read More below for additional information.
Kimberly-Clark Corporation has approved a capacity expansion project at its Mobile, Alabama manufacturing facility that will support K-C Professional's continued bath tissue category growth in North America. "The Mobile team is excited about the role we will play in supporting the projected growth of the bath tissue category in North America as a result of this capacity expansion project," said Todd Visscher, Mill Manager for Kimberly-Clark's Mobile operations. "This investment, the commitment of our employees, and the community support will together bolster Mobile Mill's competitive position within Kimberly-Clark." With an estimated investment of more than $100 million, this two-year project is expected to deliver improved capacity, greater manufacturing efficiency, and enhanced product quality. Click Read More below for additional information.
A major byproduct in the papermaking industry is lignosulfonate, a sulfonated carbon waste material, which is typically combusted on site, releasing CO2 into the atmosphere after sulfur has been captured for reuse. Now researchers at Rensselaer Polytechnic Institute have developed a method to use this cheap and abundant paper biomass to build a rechargeable lithium-sulfur battery. Such a battery could be used to power big data centers as well as provide a cheaper energy-storage option for microgrids and the traditional electric grid. Click Read More below for additional information.
Despite a drop in sales in 2017 and store closings, the mood was mostly upbeat at the 2018 Diamond Retailer summit, held April 6-8 in conjunction with the C2E2 pop culture convention in Chicago. Many retailers indicated to PW that they are beginning to see a slight upturn in sales in recent months. But this comes after a year in which sales were down in every category. According to figures released by Diamond Comics Distributors—which distributes comics and graphic novels to a network of about 2,000 specialty comics shops around the country—periodical comics sales were down 10% in 2017 compared to 2016, graphic novels declined 9% and the number of direct market stores served by Diamond slipped about 1%. Click Read More below for additional information.
Geopolitical tensions are affecting prices now and will lift crude higher if they persist, Fatih Birol, the executive director of the International Energy Agency, said in an interview on Thursday. Meanwhile, trade disputes such as the one between U.S. and China that’s hurt investor sentiment recently are not unusual and won’t have “a direct impact on oil markets for now,” he said on Bloomberg Television in New Delhi. Crude has surged to levels last seen in 2014 as the risk of violent conflict grips the market and raises concerns over potential Middle East supply disruptions. Top OPEC producer Saudi Arabia on Wednesday intercepted a missile attack by Yemeni rebels, who are seen as being supported by fellow group member Iran. That was after U.S. President Donald Trump warned Russia to expect an American missile barrage toward its ally, Syria. Click Read More below for additional information.
The World Trade Organization has agreed to establish two panels to examine Canada’s complaint about duties imposed by the United States on softwood lumber imports, reports CBC. The Canadian government requested the WTO on March 27 to set up a panel to examine the dispute after consultations with the United States in January failed to resolve the matter. The country also requested a second panel to review the US’s use of differential pricing methodology in its anti-dumping determinations. The United States objected to these requests.
L Brands, Inc. reported net sales increased 7 percent to $1.020 billion for the five weeks ended April 7, 2018, compared to net sales of $951.4 million for the five weeks ended April 1, 2017. Comparable sales for the five weeks ended April 7, 2018, increased 4 percent compared to the five-week period ended April 8, 2017. The company reported net sales of $1.874 billion for the nine weeks ended April 7, 2018, an increase of 9 percent compared to sales of $1.717 billion for the nine weeks ended April 1, 2017. Comparable sales for the nine weeks ended April 7, 2018, increased 3 percent compared to the nine-week period ended April 8, 2017.
Costco Wholesale Corporation reported net sales of $12.92 billion for the month of March, the five weeks ended April 8, 2018, an increase of 10.9 percent from $11.65 billion last year. For the thirty-one weeks ended April 8, 2018, the Company reported net sales of $81.43 billion, an increase of 11.8 percent from $72.82 billion last year. This year’s five-week March retail-month had one fewer shopping day versus last year, due to the calendar shift of Easter. This negatively impacted total and comparable March sales by approximately one to one and one-half percent. Click Read More below for additional information.
Heinzel Group increased its sales revenues by roughly 3% compared with the previous year to EUR 1,816.5 million in 2017. All companies of the two business areas, Trading and Industrial, recorded increases in both sales revenues and earnings. Due to the negative result of Laakirchen Papier (EUR -8.0 million), the operating result (EBIT) of Heinzel Group, at EUR 73.6 million, was lower than the prior-year figure (EUR 78.6 million), which had, however, included non-operating one-off effects of EUR 4.3 million. At EUR 55.0 million, net income also fell slightly short of the good prior-year level of EUR 57.6 million. Click Read More below for additional information.
The virtual forest developed by Metsä Group, Tieto and CTRL Reality runs on all VR devices, and it can simulate different forest management methods and their impact on income and the landscape, for example. The solution can replace actual visits to the forest, and it helps to illustrate the impact of forest management activities, among others, to forest owners. "Being the digital pioneer in its industry, Metsä Group built the first version of its virtual forest in autumn 2017. The version has been tested with forest owners ever since and, on the basis of feedback, we are developing the final version, which will be completed in autumn 2018. We demonstrated the virtual forest with Tieto at Slush in November 2017, and received tons of positive feedback from professionals in the digital sector", says Juha Jumppanen, senior vice president for member services at Metsä Group. Click Read More below for additional information.
Revenues from continuing operations for the quarter were $5.4 billion compared to revenues from continuing operations of $5.9 billion in the prior year's fourth quarter, a decrease of $509.1 million or 8.6 percent. Same store sales from Retail Pharmacy continuing operations for the quarter decreased 1.7 percent over the prior year, consisting of a 2.3 percent decrease in pharmacy sales and a 0.6 percent decrease in front-end sales. Net loss from continuing operations was $483.7 million or $0.46 per diluted share compared to last year's fourth quarter net loss from continuing operations of $25.1 million or $0.02 per diluted share. The decline in operating results was due primarily to $325 million of income tax expense relating to the revaluation of the company's deferred tax assets as a result of the 2017 Tax Act and a charge of $191 million, net of tax, for the impairment of goodwill related to our Pharmacy Services Segment. Click Read More below for additional information.
Incorporating both new editorial content and an elevated look and feel, the new SHAPE provides the service that today's woman desires: beauty and style advice that adapts to her busy life; ways to discover the joys of healthy and delicious eating; relatable tips for health and relationships; and innovative ways to keep her body strong and fit. The May 2018 issue, featuring actress Kate Mara on the cover, hits newsstands April 17. SHAPE Editor in Chief Elizabeth Goodman Artis led the reimagination of this iconic brand. "Today women want what we call the well-lived life, a more holistic approach to health and happiness," Goodman Artis said. "They know that nurturing one part of life feeds and refreshes another. We want SHAPE to reflect this philosophy." Click Read More below for additional information.
In an annual air report prepared for Kamloops city council by Domtar, the company will invest $3.5 million towards new machines. One is an electro-static precipitator that is used to remove smoke and dust particles from gases and the other is a scrubber used to clean and reduce air emissions. It will also eliminate the need for liquid sulfur dioxide - one of the most hazardous liquids used at Domtar mill. The 2017 pulp mill data also shows air emissions and odour from the manufacturer has decreased in the last few years, but the report does not say if the new equipment will reduce odour caused by air pollution. Click Read More below for additional information.
About a year ago residents spotted debris floating in the Humber Canal waters. Corner Brook Pulp and Paper then hired divers, who located two sunken barges used during the original construction of the canal between 1923-1925, and two barrels from the 1940s or '50s. "It's certainly something from quite a number of years ago," said Darren Pelley, the general manager for Corner Brook Pulp and Paper. Pelley said they're not sure if the items were sunk in the canal intentionally, but said Kruger is committed to removing them. Click Read More below for additional information.
Futures in New York rose as much as 1.3 percent after climbing the most in eight months on Tuesday. President Donald Trump has intensified preparations for a response to a suspected chemical weapons attack in Syria, a move that could place the U.S. in direct conflict with Russian forces. While the Middle East country’s own oil production is limited, prices often respond to the risk of war in a region that holds almost half of the world’s crude reserves. “The focus is on the West’s probable military strike against the Syrian regime,” said Carsten Fritsch and Eugen Weinberg, analysts at Commerzbank AG in Frankfurt. Click Read More below for additional information.
The company announced that, as part of its commitment to combat climate change and create a healthier environment, its global facilities are now powered with 100% clean energy. The achievement includes all of Apple’s retail stores, offices, data centers and co-located facilities in 43 countries — including the United States, the United Kingdom, China and India. “After years of hard work we’re proud to have reached this significant milestone,” said Tim Cook, Apple’s CEO. “We’re going to keep pushing the boundaries of what is possible with the materials in our products, the way we recycle them, our facilities and our work with suppliers to establish new creative and forward-looking sources of renewable energy because we know the future depends on it.” Click Read More below for additional information.
With increasing demands for colour equity across ever wider geographies and packaging substrates, it is essential that every provider from brand owner specifier, to print and packaging supplier, contribute to establish a consistent and robust colour communication workflow. Flint Group’s Paper & Board business has entered into an exciting new partnership with X-Rite, the global leader in colour science and technology to deliver a colour solution that leverages the X-Rite eXact and NetProfiler to reliably meet the colour management needs of each stakeholder in the package print value and supply chain. Click Read More below for additional information.
HP Inc. at the London Book Fair introduced HP Piazza, a pioneering set of independent and interlocking cloud-based services that enable publishers to make book manufacturing and distribution more time- and cost-efficient. Now, publishers can build a virtual warehouse for the management, automation, distribution, print, and direct fulfillment of book orders, while holding zero inventory. “Pearson is undergoing a digital transformation to become a simpler, more efficient business and our UK book supply chain is a key part of this,” said Stephen Jones, Pearson Director of Global Direct Procurement. “We are moving from a ‘print to warehouse’ to a ‘print to order, direct to consumer’ model. Partnering with our print providers, HP Piazza will support us in managing our print workflow and optimizing our book supply chain to help reduce costs and better serve our customers.” Click Read More below for additional information.
Preliminary results of a research project conducted by Virginia Tech on the disposal of wood pallets at landfill sites reveal that 95% of wooden pallets are being recycled. The landfill avoidance study was independently conducted at Virginia Tech over two years. Both municipal and solid waste (MSW) and construction and demolition (C&D) landfill facilities were surveyed to better understand how pallets were being handled at these facilities. According to the study, the number of pallets entering the landfill reduced by 86%, for both MSW and C&D facilities. Environmental awareness, limited space and a desire to be more waste efficient have driven many of these facilities to sort and recover certain types of waste. The overall presence of wood pallets at landfill facilities also significantly decreased. Click Read More below for additional information.
Inkjet isn’t like other printing processes, and trying to sell it on anything other than its own terms is a recipe for failure with it. Three inkjet adopters who have learned to sell inkjet the right way freely shared the lessons they’ve learned in a heavily attended panel discussion that kicked off the second day of the 2018 Inkjet Summit. Under the moderation of Barb Pellow (Pellow & Partners), the trio emphasized that properly educating and motivating the sales force is what primarily drives success in a market where the old norms of selling - particularly selling on price - aren’t meaningful in the value proposition that inkjet presents to customers. They also noted that if a printing company wants its customers to get excited about inkjet, the service provider must communicate its own passion for the process in every pitch it makes. Click Read More below for additional information.
Solenis has introduced its new MicroSolSM advanced retention and drainage solutions to help printing and writing paper producers stay competitive through increased productivity and superior product offerings. MicroSol is a revolutionary technology package that combines the company’s new patented PerForm™ SP7242 structured polymer with its uniquely structured PerForm™ MP9031 colloidal silica to give printing and writing paper producers a no-compromise solution for maximizing retention and drainage without sacrificing formation in the manufacturing process. As a result, papermakers enjoy a wider operating window that increases flexibility, improves machine efficiency and reduces operating costs. Click Read More below for additional information.
UPM sells its Myllykoski mill site and premises, located in Kouvola, Finland, to Redeve Oy. The buyer is specialised in real estate development. The transaction was completed today and the ownership of the real estate was transferred to the buyer with an immediate effect. UPM closed its Myllykoski paper mill in 2011. Since then, UPM has been searching for a solution to enable further usage of the site. Click Read More below for additional information.
Sonoco ThermoSafe and Cathay Pacific Cargo announced a global partnership agreement for the leasing of the PharmaPort 360 temperature controlled bulk shipping container. The agreement enables pharmaceutical shippers to lease PharmaPort 360 containers directly from Cathay Pacific Cargo. The PharmaPort 360 utilizes proprietary hybrid technology to provide extremely precise, long duration +5C temperature control for transporting high value cargo for the world’s leading biopharmaceutical companies. Once charged, the PharmaPort functions like an active temperature controlled container without the energy consumption, heat discharge or temperature variability of other compressor-based technologies. The PharmaPort’s hybrid technology allows it to operate on battery power substantially longer than competing active units used for bulk air shipments, and it also eliminates the need for refrigerated trucks for lengthy truck lanes. Click Read More below for additional information.
South Carolina's paper industry has had just about enough of environmentally conscious email senders asking their recipients to resist the urge to hit the print button. Take ArborGen, the Ridgeville-based company that breeds new varieties of trees. It was originally founded by a group of paper manufacturers, including the former MeadWestvaco Corp. It hasn't forgotten its roots since being sold last year. "Notice: It's OK to print this email. Paper is a biodegradable, renewable, sustainable product made from trees," reads the signature on its spokeswoman's email. "Thanks to improved forest management, we have more trees in America today than nearly 100 years ago." Fort Mill-based Domtar — one of the state's largest corporations — is pushing a similar message companywide. Its pitch: "Paper informs us, persuades us, educates us and organizes us. It's OK to use paper." Click Read More below for additional information.
Sappi has signed an agreement with the Department of Energy to build a renewable energy plant at its mill in Mpumalanga. Sappi and consortium partners KC Africa and African Rainbow Energy and Power would spend a combined R1.8bn on a 25MW biomass energy unit at the company’s Ngodwana mill, said Sappi Southern Africa CEO Alex Thiel. Sappi will have a 30% stake in the facility, which is expected to contribute to the national grid from July 2020. Click Read More below for additional information.
As one of the global leaders in electrotechnical paper manufacturing for insulation of high voltage cables and transformers, Ahlstrom-Munksjö plans to increase pulp production capacity and improve environmental performance of the Billingfors pulp line, Sweden. The investment involves rebuilding the recovery boiler and debottlenecking the pulp line. When completed in the third quarter 2019 the plant will meet stricter environmental regulations thanks to improved process combustion, reducing air emissions. Ahlstrom-Munksjö has also decided to modernize the bailing line at Aspa pulp plant, Sweden. The investment of EUR 4 million will improve safety level at the bailing line, improve production efficiency and give access to a more favorable customer mix. The new line is estimated to start during the first half of 2019. During the modernization production will continue normally. Click Read More below for additional information.
Pierre has a solid background with the Holmen Group. He most recently comes from Braviken Sawmill, where he has been Mill Manager for the past 18 months, and before that he worked at Hallsta Paper Mill. He has spent most of his career in the pulp and paper industry, primarily with Stora Enso. “We are very pleased that Pierre has accepted the challenge to lead Iggesund Mill,” comments Daniel Peltonen, President and CEO of Iggesund Paperboard. “Pierre is a well-regarded manager with long experience of production and broad experience of the forest industry.” Click Read More below for additional information.
Envi 96 Label is a high performance, brilliant white, Forest Stewardship Council Certified, wet strength label stock ideal for beverage and other consumer packaged goods labeling applications. Envi 96 Label is engineered to withstand the rigors of print and post-press processes, through the bottling line, onto the shelf or cooler, and finally into an ice bucket. Envi 96 is suitable for embossing, foil stamping and intricate die cutting and the brilliant white surface will make labels pop on a crowded store shelf. Click Read More below for additional information.
Nestlé announced its ambition to make 100% of its packaging recyclable or re-usable by 2025. Its vision is that none of its packaging, including plastics, ends up in landfill or as litter. Nestlé believes that there is an urgent need to minimize the impact of packaging on the environment. Nestlé CEO Mark Schneider said, "Plastic waste is one of the biggest sustainability issues the world is facing today. Tackling it requires a collective approach. We are committed to finding improved solutions to reduce, re-use and recycle. Our ambition is to achieve 100% recyclable or reusable packaging by 2025." The company focuses on three core areas: eliminate non-recyclable plastics; encourage the use of plastics that allow better recycling rates; and eliminate or change complex combinations of packaging materials. Click Read More below for additional information.
What print technology is enjoying double-digit growth while it enables mass customization and changes the entire print business model? Asked at the opening session of the 2018 Inkjet Summit, the question had what may have seemed to be an obvious answer. But keynote speaker and conference chair Marco Boer (I.T. Strategies) wanted the event’s hand-picked audience to be completely clear about why the rise of production inkjet has been so remarkable and what its growth portends for the industry over the next few years. According to Boer, inkjet is coming into its own at a time when the commercial print segment is undergoing a profound structural change because of worsening labor shortages, a “precipitous drop” in revenues and profits, and what are probably permanent changes in the way people consume and buy print. The good news, he said, is that inkjet can help to remedy all of these ills with its automated productivity and its broadly acceptable print quality. Click Read More below for additional information.
Beginning in April 2018, Sun Chemical and its parent company, DIC Corporation, will increase the production capacity of its DAILUBE® extreme pressure additives by 6,000 tons per annum at its eco-friendly plant in Kashima, Japan. The move will better serve customers around the globe as well as promote and deliver its trusted and market leading sulfurized extreme pressure additives into new and existing markets. Optimized for metalworking fluids used in cutting, forming and rolling, DAILUBE extreme pressure additives are light in color, low odor and available in a range of chemistries, including olefin, lard, vegetable, ester, and fatty acid. Click Read More below for additional information.
The Bon-Ton Stores, Inc. announced that it has received a signed letter of intent from an investor group composed of DW Partners, Namdar Realty Group and Washington Prime Group, pursuant to which the investor group proposes to acquire the Company as a going concern in a Bankruptcy Court-supervised sale process. The Company and the investor group are in the process of finalizing an asset purchase agreement in advance of an auction, which is now scheduled to be held on April 16, 2018. Bon-Ton is continuing to operate in the ordinary course as the Company completes its court-supervised restructuring process. Bon-Ton was required to provide notification under certain state and federal laws of potential job losses even as it works to complete a sale of the Company as a going concern, and is hopeful the sale process will preserve jobs. The Company's stores remain open and are continuing to serve customers. Click Read More below for additional information.
Alliance Packaging is adopting high-end, direct-to-board digital printing with the purchase of an EFI™ Nozomi C18000 single-pass corrugated packaging press from Electronics For Imaging, Inc. The ultra-high-speed press is a groundbreaking offering in the digital corrugated packaging space because of its high production capacity and its complete integrated system. Alliance Packaging – the Northwestern U.S.’s largest independent corrugated box manufacturer – is installing the breakthrough digital production press at its Seattle headquarters facility to provide its customers with new capabilities that will reduce waste, cost and turnaround time. The second-generation, family-owned 500-employee business focuses on high-end corrugated applications and specializes in fast turnaround times, intricate designs and superior-quality printing. Click Read More below for additional information.
A fibre shortage has left Catalyst Paper Corporation with no options but to curtail production on paper machine 11 at its Powell River mill. Unable to acquire enough fibre from its regular source in the Okanagan, the company announced on Thursday, April 5, that it will not make paper from paper machine 11 for three weeks, from Monday, April 16, to Monday, May 7. The primary driver for Catalyst’s production cutback is the shortage of fibre, making it uneconomical to run paper machine 10 and paper machine 11, according to Kissack. But, he said recent United States Department of Commerce anti-dumping duties also led to the production cut. Click Read More below for additional information.
Oil is losing steam after rising more than 5 percent last month as Trump repeatedly raises the stakes against China, rattling markets. Along with other risky assets, oil took a blow on concern the escalating tension will threaten growth that drives energy demand amid record U.S. output. That could hinder the efforts of the Organization of Petroleum Exporting Countries and its allies to curb a global glut and prop up prices. “The market is currently concerned for the escalating China-U.S. trade war tensions,” said Bjarne Schieldrop, chief commodities analyst at SEB AB. “And with good reason, since this will be bad for global growth and oil demand growth further down the road.” Click Read More below for additional information.
Mohawk Fine Papers, Inc. announced that it has purchased Crane Stationery Corporation of North Adams, MA for an undisclosed amount. This acquisition includes all three premium Crane brands – Crane & Co., William Arthur and Vera Wang. This marks the latest expansion for Mohawk and is a natural evolution for this fourth generation, family-owned paper company. Founded in 1801, Crane has been synonymous with luxurious cotton papers and the finest personalized stationery in the world. “The Crane name and reputation has withstood the test of time for more than 200 years and we are very excited to add this legendary paper and stationery brand to our family portfolio,” said Tom O’Connor, Mohawk Chairman and CEO. The combined companies will expand Mohawk’s product offering to include Crane’s extensive, iconic line of boxed stationery, wedding invitations, holiday cards and other personalized products, as well as Crane Crest, Crane Bond and Crane Lettra. Mohawk and Crane will maintain their respective existing brand names and continue to offer their unique portfolios and offerings, while at the same time expanding products, offerings and channels. Click Read More below for additional information.
In FY 2017, the Postal Service recorded its first net loss from operations, since FY 2013, of $1.3 billion, largely due to declining mail volume, the expiration of the exigent surcharge, and higher operating costs. However, including non-cash workers’ compensation costs and retirement expenses, the net loss from operations increases to a total net loss of $2.7 billion in FY 2017. This is an improvement of $2.8 billion compared to the total net loss in FY 2016. This improvement is the result of a $4.8 billion decrease in the retiree health benefits expense, and a $3.4 billion decrease in the non-cash workers’ compensation expense, offset by $2.4 billion in increased expenses that resulted from provisions in the Postal Accountability and Enhancement Act (PAEA) for unfunded retirement benefit costs. Liquidity also continues to improve in FY 2017 and is at its highest level since FY 2007. However, liabilities on and off-balance sheet for pension and annuitant health benefits continue to threaten the improvements in liquidity. The Postal Service experienced a decline in revenue for most of its Market Dominant products. Consumer price index-based price increases were not sufficient to offset the decline in mail volume and the reduction in additional revenue from the expiration of the exigent surcharge. Overall Market Dominant Mail and Services revenue declined 7.7 percent from the previous year. First-Class Mail revenue declined by 6.7 percent while Marketing Mail revenue declined by 5.7 percent. Periodicals revenue also saw a decline of 8.8 percent. Conversely, package services revenue increased by 0.3 percent compared to FY 2016. Click Read More below for additional information.
The Postal Regulatory Commission (PRC) issued its Annual Compliance Determination (ACD), a mandated assessment of the U.S. Postal Service’s compliance with pricing and service performance requirements in fiscal year 2017 (FY 2017). While the Commission acknowledges some areas of improvement, it identifies several compliance issues related to workshare discounts, noncompensatory Market Dominant products, Competitive products, service performance, and continued cost and service problems with flat-shaped mail (flats). Workshare Discounts: The Commission identified 42 workshare discounts with compliance issues. Out of the 42, 20 of the discounts did not comply with section 3622(e). No action by the Commission was required for 7 of the 20 workshare discounts because price changes aligned the discounts with avoided costs or the Postal Service eliminated the discount. Thirteen workshare discounts remained out of compliance prompting the Commission to direct the Postal Service to either align workshare discounts with avoided costs in the next Market Dominant price adjustment or specify an applicable statutory exception. Click Read More below for additional information.
Allen Press, Inc. is pleased to announce the addition of Art Vargas as an Account Manager. Vargas brings expertise in direct mail, premedia, digital and offset printing, customer service and account management. With his vast experience in direct mail project management, Art will be a valuable resource to our clients, advising them through best production processes and continuing to position Allen Press as a premium direct mail provider. Click Read More below for additional information.
National Average Price for Regular – Current: $2.662; Month Ago: $2.526; Year Ago: $2.380. National Average Price for Diesel – Current: $2.973; Month Ago: $2.945; Year Ago: $2.516.
American Dollar to Canadian Dollar = 0.782126; American Dollar to Chinese Yuan = 0.158602; American Dollar to Euro = 1.224013; American Dollar to Japanese Yen = 0.009316; American Dollar to Mexican Peso = 0.054796.
Futures fell as much as 1.1 percent in New York and are set for a 2.6 percent drop this week. Trump ordered his administration to consider levies on an additional $100 billion in imports from the Asian nation, spurring a flight from risk assets on concern a full-blown trade war will deter global economic growth. That was only a day after both American and Chinese officials signaled they’re willing to talk about the escalating conflict. “We now have to start looking at the U.S.-China trade war as a downward geopolitical risk,” said Olivier Jakob, managing director at consultants Petromatrix GmbH. “This is starting to not be funny anymore, and there is a risk to reach a point where global asset markets become tired of the White House wars and move back into cash.” Click Read More below for additional information.
LEIPA Group CEO Peter Probst: “We look forward to growing successfully with our customers and partners. The demand for White Top Liner remains consistently high and the trend is rising. Prices are at a high level as well. These factors result in excellent conditions for the market launch of the PM 5.” As an international market leader LEIPA will have developed a one-stop shop for their customers with the PM 3 and PM 5, offering an annual total capacity of 700,000 tons of coated and uncoated White Top Testliner. Christian Schürmann, COO of LEIPA Georg Leinfelder GmbH said: “The entire project team has done a great job rebuilding the PM 5. We will produce a state-of-the-art testliner on this machine – the world’s most powerful of its kind – and start with our first deliveries in April.” Click Read More below for additional information.
Penguin Random House has named Madeline McIntosh, previously president of the Penguin Publishing Group, CEO of Penguin Random House US. The position is a newly created one. Additionally, Allison Dobson, formerly senior v-p of strategy and finance at Penguin Publishing Group, has been promoted to president of Penguin Publishing Group, succeeding McIntosh. Dohle, who will remain based in New York City, said the creation of McIntosh’s position speaks to “the size and importance of the U.S. business for Penguin Random House worldwide." He added: "Now is the right time for dedicated leadership in our U.S. market." Under the newly announced PRH structure, McIntosh, who will report to Dohle, will be responsible for all PRH US adult and children’s publishing groups (among them Crown, Knopf, Penguin, Penguin Young Readers, Random House, and RH Childrens). The publisher's operations, sales, author platforms, digital publishing development, and audio publishing departments will now report to McIntosh. Click Read More below for additional information.
UPM Raflatac has further expanded its PP Lite range of labeling solutions for the European market with the introduction of two new products, clear-on-clear PP FTC Lite and PP Solid White FTC Lite. The PP Lite range helps brands achieve their sustainability targets with lightweight, eco-designed face materials, adhesives, and backing materials. Products in the PP Lite range combine a lighter face material, a lower coat-weight adhesive, and a lighter backing. This makes them incredibly lightweight overall, optimizes raw material use, and reduces greenhouse gas emissions, energy and water consumption, and waste. As well as helping brand owners increase the sustainability of their packaging, PP Lite range also boosts productivity across the value chain. Click Read More below for additional information.
Twin Rivers Paper Company LLC announced that it has entered into a definitive agreement to acquire the paper mill located in Pine Bluff, Arkansas owned by Mondi Group. Twin Rivers, headquartered in Madawaska, Maine, produces specialty packaging, label, publishing, and technical specialty papers as well as dimensional lumber. It is owned jointly by Atlas Holdings LLC and Blue Wolf Capital. The acquisition is anticipated to be completed in Q2 2018. Terms were not disclosed. The Pine Bluff mill to be acquired under this Agreement produces Multiwall, Converting and Grocery Bag grade unbleached kraft papers serving a variety of food, agricultural, and industrial applications. With basis weights between 40# and 78#, the mill has a capacity in excess of 140,000 US short tons. Click Read More below for additional information.
American Catalog Mailers Association (ACMA) contends in an amicus brief filed with the Supreme Court of the U.S. today that a South Dakota law enacted two years ago is unconstitutional. Filing as a friend of the defendants in the case of South Dakota v. Wayfair, Overstock.com, and Newegg, the ACMA urged that the Quill v. North Dakota precedent be upheld. The case before the Supreme Court poses the question, “Should this Court abrogate Quill's sales-tax-only, physical-presence requirement?” The 1992 Quill decision affirmed the physical presence rule. The Supreme Court ruling upheld its 1967 ruling in National Bellas Hess v. Department of Revenue of Illinois. In 2016, South Dakota enacted its law that defies the Quill physical presence standard. “The authority of the states and their many localities to tax interstate commerce is unquestioned,” the ACMA brief says. “But the Commerce Clause prohibits actions that create excessive burdens impeding interstate commerce.” The brief goes on to say, “Overruling Quill would not only discourage efforts at uniformity, but it would also expose catalog retailers to significant past lability for transactions that already have occurred.” Click Read More below for additional information.
Prices are being affected by “a bullish oil-inventory report” from the U.S., said Michael Poulsen, an analyst at Global Risk Management Ltd. U.S. storage dropped by 4.62 million barrels to 425.3 million barrels last week, while outbound shipments of crude expanded to a record, according to an Energy Information Administration report Wednesday. The EIA data also showed that American oil production rose to an unprecedented 10.5 million barrels a day, topping the 10 million-barrel level for a ninth week. Global markets from equities to oil recovered after investor optimism grew that the U.S. and China will step back from the brink of a trade war. Click Read More below for additional information.
Bob Hoffman is a man worth listening to. Especially when he’s talking about advertising. Bob is an adland icon. The founder of the Hoffman/Lewis agency in California, he has created campaigns for McDonald’s, Shell, PepsiCo, Bank of America, you name it... The century-old Greater San Francisco Ad Club made him their “Ad Person of the Year” in 2012. And now Bob Hoffman is the man exposing the vast fraud of digital advertising. He has spoken out about a world where a single “bot” computer programme can generate a billion fraudulent ad impressions a day, without that ad ever having been viewed by human eyeballs. This great swindle is on track to become the second largest source of criminal activity in the world by 2025, second only to drug trafficking, Hoffman suggested recently. Click Read More below for additional information.
When Tonya Kowa-Morelli took over the reigns at Huston Patterson, her family’s privately owned package printing business in August 2013, the industry as a whole was still rebounding from economic and digital challenges. But in those past four years, she has re-shaped and re-invigorated the company to compete effectively and efficiently posting double-digit sales and demonstrating that the next generation within the family has the leadership chops to continue its fast-paced growth. Kowa-Morelli, the third generation to operate the business, was named president of the firm after serving in various sales, marketing and leadership roles for nine years. In her first year as president, her sales team notched a 30% increase while reducing spoilage and seeing increased efficiency in the pressroom. Under her guidance both Illinois facilities---Huston Patterson in Decatur and Sigma Graphics in Ottawa---continue to add the latest technology to benefit their clients. This month under her watchful eyes, Kowa-Morelli signed a contract for a new Koenig & Bauer Rapida 164 64-inch eight-color press with coating to be installed later this year at its 110,000 sq ft Decatur facility. Click Read More below for additional information.
For the fifth consecutive year, Midland Paper will be a co-sponsor for Inkjet Summit 2018 to be held April 9-12 in Ponte Vedra, FL. The Inkjet Summit is an invitation-only, hosted event designed for senior managers and business executives who want to understand how inkjet technology trends, software, consumables and finishing solutions will impact their businesses and help them shape their strategies for the future. During the event, David Field, Midland Paper’s Senior Business Manager Inkjet Technologies, will present a ‘Case Study’ illustrating effective print media options across various production inkjet platforms. “The production inkjet equipment market continues to expand with OEM press announcements unveiled at a rapid rate, including a whole new wave of sheet fed inkjet options. In addition, new OEM inks are being developed for web and sheet fed configurations which can add to the complexity for printers who are aiming to make an inkjet equipment investment,” said Field. Click Read More below for additional information.
Amazon Web Services, Inc. (AWS), announced that Shutterfly, Inc. is moving its infrastructure to AWS—going all-in on the world’s leading cloud to power its Cloud Transformation initiative. Shutterfly chose AWS for its reliability, scale, and breadth of services that are already helping the company be more agile and flexible in meeting the needs of millions of consumers. Shutterfly is migrating all of its core production applications and its more than 75-petabyte image library to AWS, and is continually building new cloud-based applications. Shutterfly’s next-generation platform is also being developed on AWS, where it can leverage a wide range of AWS services, including machine learning and analytics, to deliver a more streamlined customer experience. “We evaluated all the major cloud providers, and chose AWS for its unmatched security, reliability, and breadth of services which allowed us to quickly migrate key assets, build cloud-based applications, and run our core services with ease,” said Satish Menon, Senior Vice President and Chief Technology Officer at Shutterfly, Inc. “We are especially excited about using AWS’s machine learning services. For example, we are currently experimenting with Amazon Rekognition for image classifications and metadata enrichment and Amazon Cognito for identity services. The cost savings we expect to see by running on AWS will enable us to put more resources towards innovation and developing our next-generation platform.” Click Read More below for additional information.
Smurfit Kappa is installing a revolutionary new industrial-scale HP PageWide C500 digital press for corrugated printing which will provide greater customisation and flexibility for customers. The HP PageWide C500 Press, which will be the first commercial HP single pass press in Europe, is HP’s most technologically advanced digital press for corrugated application. The press will be installed in Smurfit Kappa’s Interwell plant in Austria. With a fully integrated stack-to-stack workflow, the press combines digital simplicity with off-set replaceable print quality on both coated and uncoated paper. The cutting-edge technology will provide brand owners with customised packaging solutions that can drive sales across both online and traditional sales channels. The graphic flexibility and quality of the new HP PageWide C500 Press will further enhance the company’s service to drive brand recognition and provide fit-for-purpose packaging. Furthermore, the HP water-based inks facilitate printing on both primary and secondary food packaging without an additional barrier which can comply with even the most stringent global food safety regulations. Click Read More below for additional information.
Publishers saw decreased revenue (-5.4%) in November 2017 vs. November 2016, but year-to-date revenue remains up (+1.1%) compared to Jan. - Nov. 2016 in all tracked categories. Tracked categories include: Trade - fiction/non-fiction/religious, PreK-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses. The year-to-date growth is primarily attributed to gains in the two largest categories: Adult Books, up $129.7 million (+2.9%) and Higher Education Course Materials, up $114.3 million (+3.8%). Publisher revenue for trade books was down for November by -4.0%, with declines in Adult, Childrens/YA and Religious Presses. Year-to-date, trade revenue is up by +1.0%, or $66.7 million. Click Read More below for additional information.
Tetra Pak has launched a suite of new packaging material effects, known as Tetra Pak® Artistry, to help food and beverage producers revitalise the look and feel of their products. These effects help brands attract shoppers’ attention without the need for the manufacturer to switch to a new packaging format or invest in new equipment. Charles Brand, Executive VP, Product Management and Commercial Operations at Tetra Pak said, “In a world where almost everything needs to be ‘personalisable’, we want to provide customers with something unique to help their brands rise above the noise and reach the shopper. The new suite of effects and expressions will help our customers enhance their brand at no additional investment, making it a cost-effective solution to their needs.” Click Read More below for additional information.