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.