A trial version of a renewable fiber based ready meal packaging will be tested with consumers in the UK starting end May. Huhtamaki is part of a three-party consortium developing an alternative to existing plastic ready meal trays. The concept is tested with two Italian style ready meals at a major UK retail chain in May-June. The trial is part of a project aiming at developing a bio-based ready meal package for the UK market. The new tray offers a viable alternative to black plastic packaging, which is problematic for the waste processers' lasers that identify materials for recycling. Ready meal consumption continues to grow throughout Europe and new sustainable solutions are welcome. The new material feels like cardboard and is made of fiber derived from Forest Stewardship Council certified sources. Click Read More below for additional information.
Bain Capital Private Equity, a leading global private equity firm, through Fedrigoni Holding Ltd, has entered into a definitive agreement to acquire Gruppo Cordenons, a leading international manufacturer of high end specialty papers for luxury packaging and premium publishing applications. The transaction remains subject to customary regulatory approvals, as the company says in the press release received by Lesprom Network. Gruppo Cordenons will be acquired and managed as an independent company. However, over time, Fedrigoni Group shareholders see a significant opportunity to share best practices, increase operations know-how and improve service and innovation by strengthening its range of high value-added special papers and key relationships with customers, supplemented by a brand that is widely recognized on international markets, where Gruppo Cordenons generates almost 70% of its turnover. Click Read More below for additional information.
Please be advised, effective with shipments July 1, 2018 the US transaction price for 45 gsm Marathon Newsprint from Catalyst Paper will be increasing by $22.00/Metric Tonne for new and existing orders. 43 gsm and 40 gsm Marathon Lite newsprint will be increasing according to past practice. Please be advised, effective with shipments July 1, 2018, the US transaction price for 20.9# (34gsm) directory business with Catalyst Paper will be increasing by $30.00 / short ton for new and existing orders. Other basis weights will be increased according to past practice.
•Total revenues increased 3% to $540.5 million. Comparable company sales increased 1% following a decrease of 8% in the first quarter last year. •J.Crew sales decreased 7% to $391.9 million. J.Crew comparable sales decreased 6% following a decrease of 11% in the first quarter last year. •Madewell sales increased 39% to $115.8 million. Madewell comparable sales increased 31% following an increase of 11% in the first quarter last year. •Operating loss was $0.9 million compared to $151.0 million in the first quarter last year. •Net loss was $33.9 million compared to $121.0 million in the first quarter last year. Click Read More below for additional information.
The winner of the international packaging design competition Better with Less – Design Challenge has been chosen. Exceptionally high-quality entries were submitted, and the winning design ‘Stretching Inner Part’ by Iiro Numminen, was considered by the judges to be extremely appealing, versatile, scalable and easy to implement. The Better with Less – Design Challenge, organised by Metsä Board, aimed to find new environmentally-friendly and functional packaging solutions for some of the world’s most frequently used and fastest growing types of consumer packages. Launched in November 2017, the competition inspired designers around the world – altogether 302 design concepts were entered from 38 different countries. The international competition jury included renowned packaging design experts from various fields – related to packaging, design, brand strategy and innovation. Click Read More below for additional information.
Allen Press, Inc. is excited to announce the purchase of a Muller Martini Tempo 22 Saddle Stitcher. The Tempo 22 is among the world’s fastest saddle stitchers, producing up to 22,000 booklets per hour. The acquisition further cements Allen Press’ position as the most advanced and versatile printing company in Kansas and Missouri. Customers will benefit greatly from this technological marvel which will deliver faster turnaround times, top quality and greater efficiencies on the production of all 8 ½ x 11 range saddle stitched materials. Click Read More below for additional information.
After studying in detail the report put together by the Koalisi Anti Mafia Hutan (KAMH), we are unsure of what wrongdoing they are alleging APP have committed. It is not unusual for any company to have significant economic or operational relationships with other companies in their supply chain. This is especially so in highly integrated supply chains like ours. APP’s key focus is to ensure that our wood supply is free from deforestation. Our links and influence over our suppliers play a major part in ensuring that. As stated in the KAMH report’s disclaimer, all the information presented about the ownership structures of companies in our supply chain are from publicly available sources, including our own disclosures. We are unsure as to how KAMH has arrived at the conclusion that this information is being deliberately hidden from public view. Click Read More below for additional information.
Oil fell, compounding a monthly decline, after U.S. crude inventories were said to rise by more than expected. Futures in New York fell 0.6 percent, set for the first monthly drop since February. On Wednesday, the American Petroleum Institute was said to report a 1 million barrel increase in crude stockpiles, double the gain forecast in a Bloomberg survey of analysts. Prices have declined about 4 percent since Saudi Arabia and Russia last week proposed to phase out supply curbs by OPEC and its allies. Click Read More below for additional information.
Since 2014, a unique Domtar internship program has helped immigrants find work and make connections in Aneby, Sweden. The program also helps people who are reentering the workforce after a long gap. For people like Moustafa Alahmad, this 10-week internship program is a lifeline. Alahmad is an ambitious, intelligent young man who studied finance at university. He speaks Kurdish, Arabic, Ukrainian and Russian. Forced to escape the civil war in his home country of Syria, Alahmad fled to Sweden, a nation known for its culture of inclusion and equality. Since he arrived, he has been able to earn enough money to get by, but it’s been difficult to find a steady job. Click Read More below for additional information.
Nippon Paper Industries Co., Ltd. (“the Company”) has announced that, at a meeting of the Board of Directors held today, the Company resolved to reorganize the production structure for its paper business. Hokkaido Mill (Yufutsu) is to shut down all paper production machines and related equipment for the production of paper (253,000 MTPY). Fuji Mill (Fuji) is to shut down all paper production machines and related equipment for the production of paper (135,000 MTPY). Kushiro Mill is to shut down its No. 8 paper production machine due to a decline in newsprint demand (143,000 MTPY). Click Read More below for additional information.
Using wood in construction is fantastic. It looks good, is easy to work with, is healthy for the people living and working within it and is great for our planet – but only if it comes from a sustainable source. Whatever timber you choose, whether solid wood or engineered wood such as CLT and glulam, it is vital that it comes from a forest that is managed sustainably, ensuring it is around for generations to come. But how can you be sure that the wood actually came from such a sustainably managed forest? The answer, of course, is PEFC certification! Click Read More below for additional information.
Brazilian pulp and paper producer Suzano shut operations throughout Brazil over the weekend in response to an ongoing strike by truck drivers over diesel fuel prices, a company spokesman said Tuesday. Rafael Mastrocola, head of investor relations for Suzano, told S&P Global Platts the company already had reduced output, since Friday took it further and "as of now we have halted pretty much all of our sites." Click Read More below for additional information.
For the first quarter, net sales were $561.8 million compared to $583.7 million in last year's first quarter. This decrease of 3.8% primarily reflects a comparable sales decline of 5.9% and the impact of 41 net store closures since last year's first quarter, partially offset by the favorable impact of the calendar shift due to the 53rd week in fiscal 2017. The comparable sales decline was primarily driven by lower transaction count. For the first quarter, gross margin was $226.9 million, or 40.4% of net sales, compared to $237.4 million, or 40.7% of net sales, in last year's first quarter. This 30 basis point decrease primarily reflects the initial implementation costs and launch of a new expedited shipping program, partially offset by a 70 basis point improvement in maintained margin. Click Read More below for additional information.
For the first quarter ended 31 March 2018, Lecta had revenue of €375.4 million versus €376.3 million in the first quarter ended 31 March 2017, a decrease of €0.9 million or -0%. EBITDA decreased by €4.9 million, or -16%, from €30.2 million in 1Q2017 to €25.3 million in 1Q2018. Click Read More below for additional information.
Oil steadied near $67 a barrel as markets regained some composure following renewed trade tensions between the U.S. and China, political turmoil in Europe and simmering concerns that OPEC may ease its output curbs. Futures in New York were little changed, though still almost $6 below last week’s high. China said it would respond accordingly to U.S. President Donald Trump’s plan to impose tariffs on $50 billion of Chinese imports. Encouraging economic data in Europe blunted panic related to Italy’s political crisis, which on Tuesday helped boost a gauge of oil market volatility to its highest level since February. Click Read More below for additional information.
Lars Lundin has been appointed Senior Vice President Paper and will take up his new role no later than the first of december 2018. He succeeds Nils Ringborg, who will remain part of Group management as advisor to the CEO. "Lars has shown himself to be an excellent manager of change, with years of experience in both production and marketing. His collection of skills will be invaluable in the continued drive to develop our business and I have no doubt that Lars will take Holmen Paper to new heights", says Henrik Sjölund, President and CEO of Holmen. Click Read More below for additional information.
ISLA® Duo cupstock is Kotkamills' solution to an ever-growing problem. It does not contain any plastics or waxes that are harmful for the environment or health. Easy recycling makes ISLA® Duo cups an integral part of the circular economy and makes sure that the valuable wood fibre can be reused. A traditional single-use coffee cup includes a barrier layer made from plastic, which prevents absorption of liquids and greases. The barrier layer in ISLA® Duo products is a water-based dispersion coating instead of PE plastic. Being plastic-free enables the products to be easily recyclable in normal paper and board recycling, and the wood fibre can be reused fully. ISLA® Duo cupstock doesn't contain any waxes harmful for the health nor do they cumulate in the nature like plastic. Click Read More below for additional information.
Summer is a key time for booksellers around the country in regions that attract tourists during the season, and for those that see increased foot traffic from teachers and children. “Our Chamber of Commerce anticipates a 5% rise in visitors to Alaska this summer,” said Jenny Stroyeck at the Homer Bookstore in Homer, Alaska. “Our foot traffic does go up in the summer.” She noted that with the long driving distances between towns, parents like to buy their kids books to ensure peace and quiet on the road. The Homer Bookstore has had a slight dip in sales so far this year—it is down 2% compared to the same period in 2017—but, like many stores around the country, anticipates a boost from some big seasonal events. The Kachemak Writers’ Conference, which will be held in Homer in June and will feature Anthony Doerr as the keynote speaker, should produce some strong numbers for the indie. Click Read More below for additional information.
Sonoco announced it is implementing a $50 per ton price increase for all grades of uncoated recycled paperboard (URB) in the United States and Canada, effective with shipments beginning July 2, 2018. Sonoco cited continuing inflation of input costs, especially freight and papermaking chemicals, and significantly longer backlogs at its mills as the drivers for this pricing action. Sonoco is one of the largest integrated manufacturers of uncoated recycled paperboard in the United States and Canada, producing more than one million tons annually from 11 mills.
Tetra Pak today announces that its new tubular heat exchanger with P2P (Product to Product) technology now has 3-A certification. P2P heat exchangers are typically used by dairy, beverage and ice cream producers, and can also process products with particles. They offer up to 50% improved energy efficiency compared to Product to Water (P2W) alternatives through lower steam and cooling water consumption. Designed to achieve optimum hygiene, Tetra Pak’s machine is constructed with an innovative oxygen-free welding technique that eliminates crevices and potential hygiene blind spots, to achieve zero risk of bacteria aggregation. Click Read More below for additional information.
Earlier this month PrintWeek reported on the ‘perfect storm’ of global events that have tightened the supply of graphical papers and resulted in paper mills resorting to allocation for the first time since 2001. Factors in the mix are wide-ranging with the surging global demand for pulp being at the forefront, fuelled by its ever-expanding uses in new and existing markets, such as hygiene and tissue products, as well as the backlash against plastic with manufacturers seeking paper-based alternatives. “Pulp is no longer a one-trick pony,” says Mario di Lieto, managing director of Stora Enso division LumiPaper. “There’s a much broader use for cellulose today than just paper. It’s being used for plastic substitute, for clothing, for biomass for energy, all sorts of applications.” As a result of this soaring demand, pulp prices have been pushed up further and further from $700-$750 (£520-£557) a tonne a year ago, to nearly $1,200 causing a knock-on effect across the print and packaging industry, among others. Click Read More below for additional information.
Catalyst Paper announced that it has entered into a Sales and Purchase Agreement with ND Paper LLC, a wholly owned subsidiary of Nine Dragons Paper (Holdings) Ltd.(“ND Paper”), a Hong Kong Stock Exchange listed company, for the sale of Catalyst’s U.S. operations to ND Paper for US$175 million. Upon the closing of this transaction, ND Paper will acquire Catalyst’s Rumford, Maine and Biron, Wisconsin mills along with the associated staff at the company’s U.S. operations center in Dayton, Ohio. Catalyst has agreed to provide transition support services to ND Paper to assist with the development of certain operational and administrative functions required for the two U.S. mills. Click Read More below for additional information.
Effective with deliveries on or after July 1, 2018, UPM is increasing the transaction price of all Coated Groundwood and Coated Freesheet Web grades. The transaction price of Coated Groundwood Grades will increase $2.00/cwt, including all basis weights and finishes of Cote; Ultra; Valor; Star. The transaction price of Coated Freesheet Web will increase $2.00/cwt ($40/st), including all basis weights and finishes of Finesse.
Stora Enso has signed a strategic partnership agreement with the Swedish University of Agricultural Sciences (SLU). Through the agreement Stora Enso and SLU intend to establish a long-term collaboration in research and development, education, competence building, and innovation within the fields of forestry and bio-based materials. The main objective of the collaboration is to jointly drive research projects to develop new knowledge within sustainable forestry and wooden biomaterials. Special focus areas include bio-based materials, forest and ecosystem management, forest technology and plant- and forest production. Moreover, the collaboration will act to strengthen competence development of staff members at Stora Enso and SLU. Click Read More below for additional information.
Sonoco announced it has signed a definitive agreement to acquire the remaining 70 percent interest in the joint venture of Conitex Sonoco for approximately $133 million in cash. Conitex Sonoco is a vertically integrated, global leader in the manufacture of paper-based cones and tubes used in the textile industry. The transaction is subject to normal international regulatory reviews and is expected to close in the third quarter of 2018. The Conitex Sonoco joint venture was formed in 1998 between Texpack, Inc., a Spanish-based global provider of paperboard and paper-based packaging products, and Sonoco’s former North America textile cone business. In 2017, the joint venture had total sales of approximately $245 million and produced more than 300,000 tons of uncoated recycled paperboard, which was used to produce approximately 1.4 billion tubes and cones for the global spun yarn industry. The company also produces adhesives, flexible intermediate bulk containers and corrugated pallets. The joint venture has 13 manufacturing locations in 10 countries, including four paper mills and seven cone and tube converting operations as well as two other production facilities. Click Read More below for additional information.
With industry sales largely flat, one way publishers have maintained their profit margins in recent years is by operating more efficiently and taking costs out of the supply chain. But publishers’ ability to contain costs could be put to the test this year as the price of paper rises. As one publisher noted, because of an overall decline in demand, paper prices have been good for several years. In early 2018, however, a number of events have led to a decline in the paper supply and an increase in prices. A recent report by printer Quad Graphics noted that the cost of uncoated groundwork paper rose $35 per ton on February 1 and rose another $25 per ton March 1. Costs have risen in part because of a reduction in supply, as a number of Canadian mills have either closed or, in search of better margins, switched from producing paper to manufacturing other products, such as packaging, explained Matt Baehr, executive director of the Book Manufacturers’ Institute; the institute recently held its annual meeting, which focused on paper issues. Click Read More below for additional information.
DocuCheck Inkjet Security Papers are available in DocuCheck Basic®, DocuCheck Ghost®, DocuCheck Impede®, DocuCheck Watermark®, and DocuMark® Custom. DocuCheck Inkjet Security Papers offer the same security features as the high-performing DocuCheck product line. With a wide variety of in-paper features such as invisible fibers, indicator stains and watermarks, DocuCheck Inkjet Security Papers provide customers with security options and help businesses prevent, deter or detect fraud. “Appvion’s commitment to remain responsive to the business market needs as well as the printing industry’s demands motivated us to develop DocuCheck Inkjet Security Papers,” says Dave Pauly, Appvion’s director of carbonless, security and specialty papers. Click Read More below for additional information.
When people think of paper manufacturing, the first natural resource that comes to mind is probably trees. But water plays an equally important role in our industry. That’s why sustainable water management is one of our top priorities. The location of our facilities shows how important water is to our manufacturing process. We’ve built our mills near abundant water supplies, such as the shores of rivers, to draw water for our operations. Managing these natural resources is important to us and to the communities in which we live. Click Read More below for additional information.
Flint Group is proud to be the first ink supplier to offer a cutting edge integrated press room digital colour management service – VIVO Colour Solutions! Adding to this platform, Flint Group announces the launch of VIVO ColourSuite and VIVO ColourSuite Viewer. VIVO ColourSuite is a web-based dual software package providing on-press spectral job/colour measurement and approval functionality, plus the additional and unique opportunity to view real time colour performance graphs and a reporting dashboard across multiple machines, sites, and regions. Click Read More below for additional information.
Kotkamills’ family of AEGLE® consumer boards is complemented by the freshest member of the family. AEGLE® Barrier Plus promotes the wider use of non-plastic packaging solutions. Easily recyclable AEGLE® Barrier Plus packaging board is especially suited for packaging greasy food, sandwiches, bakery products and frozen foods. The packaging industry is one of the key players in preventing litter ending up in the oceans and nature. Traditionally, packaging industry uses plastic barrier layer on packaging board in order to prevent grease and fluids from absorbing into the packaging material. Alternatively, organic fluorochemicals can be used as grease barriers but they might be harmful for the health. Degradation of plastic can take up to hundreds of years in natural conditions which means they are a burden for the environment for a long time, even ending up in the food chain. Click Read More below for additional information.
Do you want to give your feedback as we revise our benchmark for sustainable forest management? But feel like you need more information on how this vital document is changing? Then make sure you register for our upcoming webinars! Taking place 12 and 14 June, these webinars will introduce and explain the main proposed changes to PEFC ST 1003 – the international benchmark that provides the basis for the requirements that forest owners or managers must meet to achieve PEFC certification at local level. Make sure you register now so you don’t miss out. Click Read More below for additional information.
We sometimes tend to forget the sustainable advantages that paper has compared to other materials. The fact that it’s chemical free, biodegradable, has low CO2 emissions and is of sustainable origin are almost taken for granted. With the increasing attention on plastic waste and the scary images of plastic islands floating in our oceans, paper’s being perceived more positively than ever before. Janosch Schenk, Technical Customer Service Engineer, Alfeld Mill reveals just why: “Although there is no recognised certification system for green printing, we can identify trends and standard practices in the different industry segments. The reality from the paper perspective is that green printing doesn’t really bring any new difficulties to the table. We don’t need to adjust our processes because independent certifications already exist for paper that demand certification requirements. For us, green printing is a new name for something we already do.” Here are ways green printing’s already being put into practice: Click Read More below for additional information.
Publishers’ revenue increased by $143.2 million (+6.2%) for the first quarter of 2018 (Jan - March) compared to the same period in 2017. These numbers include sales for all tracked categories (Trade - fiction/non-fiction/religious, PreK-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses). The increases are attributed primarily to strong growth in trade (consumer) books in January and February. Trade books increased by $94.7 million (+6.3%) to $1.59 billion in the first quarter of 2018 compared to the same period in 2017, with growth in Adult Books, Children & Young Adult Books and Religious Presses. Publishers also saw increased revenue for Professional Books, University Presses and Higher Ed Course Materials. Click Read More below for additional information.
What a difference a week can make. Oil prices surged to their highest level in over three years last week, and strategists were marveling that prices had shot up so quickly. Now prices are slumping. US crude oil futures have dropped by nearly 10% to trade around $66.50 per barrel, down from about $73 last week. Global benchmark Brent crude oil has dropped by about 6% to trade around $76, after peaking above $80. The sharp price decline was triggered on Friday by Saudi Arabia, the biggest oil exporter in the world and de facto leader of oil cartel OPEC. Click Read More below for additional information.
Oil prices plunged on Friday as reports said OPEC and Russia are considering lifting production by as much as 1 million barrels a day to meet the shortfall in supply from Iran and Venezuela. The losses came after media reports hit saying the Organization of the Petroleum Exporting Countries and Russia are discussing plans to lift their production for the first time since 2016. Bloomberg said the major producers are considering pumping between 300,000 and 800,000 more barrels of oil a day, while Reuters said the number could be as high as 1 million barrels. Click Read More below for additional information.
Please be advised we plan to increase the price of our 27.7# (45.0 gsm.) standard newsprint by $22.00 per metric ton effective July 1, 2018. Prices for all other newsprint basis weights will be adjusted proportionally as per past practices.
For the first quarter ended May 5, 2018: • Net sales were $3.8 billion, an increase of 10% compared with last year. Excluding the impact from the adoption of the new revenue recognition standard, net sales increased 6% compared with last year. * The translation of foreign currencies into U.S. dollars positively impacted the company’s net sales for the first quarter of fiscal year 2018 by about $40 million. First quarter net sales details appear in the tables at the end of this press release. • Gross profit was $1.43 billion, an increase of 10% compared with last year. Excluding the impact from the adoption of the new revenue recognition standard, gross profit increased about 3% compared with last year. Click Read More below for additional information.
National Average Price for Regular – Current: $2.969; Month Ago: $2.782; Year Ago: $2.372. National Average Price for Diesel – Current: $3.208; Month Ago: $3.043; Year Ago: $2.510.
American Dollar to Canadian Dollar = 0.772086; American Dollar to Chinese Yuan = 0.156568; American Dollar to Euro = 1.167135; American Dollar to Japanese Yen = 0.009137; American Dollar to Mexican Peso = 0.050923.
Total European shipments of graphic papers in March 2018 were down 8.1% vs. March 2017 and are down 4.6% year-to-date. Total European shipments of newsprint in March 2018 were down 12.7% vs. March 2017 and are down 8.7% year-to-date. Total European shipments of sc-magazine papers in March 2018 were down 14.1% vs. March 2017 and are down 10.1% year-to-date. Total European shipments of coated mechanical reels in March 2018 were down 3.3% vs. March 2017 and are UP 1.7% year-to-date. Total European shipments of uncoated mechanical (improved & others) in March 2018 were down 1.3% vs. March 2017 and are UP 7.1% year-to-date. Total European shipments of coated woodfree in March 2018 were down 10.8% vs. March 2017 and are down 6.7% year-to-date. Total European shipments of uncoated woodfree in March 2018 were down 4.0% vs. March 2017 and are down 4.2% year-to-date. Click Read More below for additional information.
What could be more exciting than the end of the school year? For many students, the answer is graduation season. May and June mark the end of one chapter and the beginning of another in many families’ lives. And paper is there every step of the way, even in this digital world. What would graduation season be like without paper? Just imagine that you’re walking across the stage on your graduation day. A crowd of family and friends are in the audience to cheer you on. You reflect on your achievements and consider where you’ll hang your beautiful framed diploma. You shake hands with a school official, and then you hear, “Congratulations on your graduation! Log on to our website to access your diploma.” Click Read More below for additional information.
The recent $40 million modernization projects at the Irving Pulp & Paper and Irving Tissue facilities in Saint John represent an investment in the future of New Brunswick. At peak, the projects included over 1200 workers from 84 local contractors and more than 400 employees at these two Saint John mills. Every year there are more than 1700 small N.B. businesses across more than 250 communities - from two employees to hundreds - that supply goods and services to the JDI forest products value chain. From seed to shelf we are adding value and jobs. Click Read More below for additional information.
IntuIdeas' John Parsons, who co-authored "Introduction to Graphic Communication" with former Cal Poly Graphic Communication Department Head Harvey Levenson, describes release of the first textbook to use Ricoh's Clickable Paper technology. Printed by Edwards Brothers Malloy on its high-speed Ricoh Pro VC60000 inkjet press, the four-color book combines print and multimedia engagement, including access to related digital media content and reader-to-reader interaction. Click Read More below for additional information.
Preem and RenFuel are assessing, in collaboration with Rottneros, the construction of the world’s first lignin plant for biofuels, at the pulp mill in Vallvik, Söderhamn. The plant is expected to produce an annual volume of 25,000-30,000 tonnes of lignin, and will be completed in 2021. The collaboration between the companies means that Preem will be the first fuel manufacturer in Sweden to use lignin in its production. Via the company Lignolproduktion AB, which is jointly owned by Preem and RenFuel, the aim is to reach a total annual production capacity of 300,000-500,000 tonnes of lignin, based on the assumption that more plants similar to that in Vallvik are established in the future. Click Read More below for additional information.
Oil prices recorded their largest one-day drop in two weeks on Thursday, with expectations building that OPEC will end an output deal that has been in place since the start of 2017 due to concerns about supplies from Venezuela and Iran. The Organization of Petroleum Exporting Countries may decide in June to lift output to make up for reduced supply from Iran and Venezuela and in response to concerns from Washington about a rally in oil prices, OPEC and oil industry sources told Reuters. Click Read More below for additional information.
Earnings per share for the first quarter ended May 5, 2018, were $0.17 compared to $0.33 for the quarter ended April 29, 2017. First quarter operating income was $154.8 million compared to $209.2 million last year, and net income was $47.5 million compared to $94.1 million last year. The company reported net sales of $2.626 billion for the first quarter ended May 5, 2018, an increase of 8 percent compared to sales of $2.437 billion for the quarter ended April 29, 2017. Comparable sales for the first quarter ended May 5, 2018, increased 3 percent compared to the thirteen weeks ended May 6, 2017.
Domestic revenue of $8.41 billion increased 6.3% versus last year driven by comparable sales growth of 7.1%, partially offset by the loss of revenue from 17 large-format and 193 Best Buy Mobile store closures over the past year. International revenue of $697 million increased 13.1% versus last year. This increase was primarily driven by comparable sales growth of 6.4%, due to growth in both Canada and Mexico, and approximately 500 basis points of positive foreign currency impact. Domestic gross profit rate was 23.3% versus 23.6% last year. International gross profit rate was 23.4% versus 24.5% last year. Click Read More below for additional information.
UPM Paper Europe and North America (ENA) business has been renamed UPM Communication Papers to underline the industry focus and global reach of the business area. It also 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. Click Read More below for additional information.
Expera Coated Products announced today a new brand of liners used in the manufacture of Advanced Composites. AeroBak™ liners are designed with specific properties and performance characteristics to meet the extreme challenges encountered during the manufacture and delivery of prepreg. These properties represent years of development of both the base sheet and the coatings. “Expera Coated Products’ AeroBak™ liners deliver solutions to the market using unique technologies that extend our products beyond traditional release liners,” explained Harry Challender, Vice President of Expera Coated Products. “Through collaboration, our team leverages the depth of experience we have in both paper and coating technologies to provide a distinct product to address individual requirements. Expera Coated Products is committed to this industry as witnessed by our recent investment in capacity designed around the unique needs of the composite market.” Click Read More below for additional information.
In the middle of May, more than 400 guests from all over the world attended the Packaging Day hosted by Heidelberger Druckmaschinen AG (Heidelberg) at the Wiesloch-Walldorf site. Under the slogan “Think out of the Box”, they witnessed the premiere of the Primefire 106 – what up until then was only available to see in customers’ print shops and in the laboratory environment is now also installed in the Print Media Center Packaging, and thus completes the extensive demo range in the world’s biggest demo center for packaging solutions. Heidelberg is the only manufacturer to integrate offset and digital printing including finishing via the Prinect workflow, and is opening up new business models for packaging printing. The Packaging Day offered the visitors a platform for getting new ideas and inspiration for their current and future business models. Three information tours – “Packaging as you like”, “Operational Excellence”, and “Special Applications” – addressed the trends in the industry and provided a comprehensive presentation of the corresponding solution from Heidelberg. Click Read More below for additional information.
Kimberly-Clark Corporation has approved $30 million for expansion and improvements to its nonwovens manufacturing facility in Hendersonville, North Carolina. The plant produces nonwoven materials for Kimberly-Clark's North American adult and feminine care brands including Depend, Poise and U by Kotex. The two-year project will focus on expanding the plant's production capacity and efficiency, and is expected to add 14 new jobs at the site, while maintaining current employment. Click Read More below for additional information.
SCA is aiming to become completely fossil free. The Ortviken paper mill has taken a major step in the right direction and last year reported the lowest level ever of emissions from fossil fuels. In conjunction with BioCoop, Ortviken invested in a new combustion unit which made it possible to replace oil and LPG with wood powder. In 2012, Ortviken emitted 43,000 tonnes of carbon dioxide, a figure that dropped to 17,000 tonnes in 2017. "This is the lowest level of emissions of fossil carbon dioxide from oil and LPG ever. In 2017, we emitted 26,000 tonnes less carbon dioxide compared with five years ago. This is equivalent to 283,000 journeys in a Volvo car between Sundsvall and Stockholm," says Charlotta Lindberg, environmental engineer at the Ortviken paper mill. Click Read More below for additional information.
Smurfit Kappa Group plc is pleased to announce that it has agreed to acquire Reparenco, a privately owned paper and recycling business in the Netherlands, for a cash consideration of approximately €460 million following a competitive process. Reparenco operates a two machine paper mill in the Netherlands with a capacity of 675,000 tonnes together with a 750,000 tonne recovered fibre operation. Reparenco employs 315 people with Gross Assets of €189 million and generated EBITDA of €41 million in the 12 months to April 2018, during which time the business continued to ramp up production. Click Read More below for additional information.
During the first quarter of 2018, we adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). As a result of the new accounting standard, income relating to our credit card program and gift card breakage that previously offset selling, general and administrative (“SG&A”) expenses has been recorded in other revenue in the Condensed Consolidated Statements of Income for all periods presented. The increase in other revenue for the first quarter of 2018 is the result of higher penetration from our growing credit card program. Gross profit for the first quarter of 2018 was $96.1 million or 29.4 percent of sales compared to $95.6 million or 28.3 percent of sales in 2017. Click Read More below for additional information.
Carbon aerogels are ultralight, conductive materials, which are extensively investigated for applications in supercapacitor electrodes in electrical cars and cell phones. Chinese scientists have now found a way to make these electrodes sustainably. The aerogels can be obtained directly from cellulose nanofibrils, the abundant cell-wall material in wood, finds the study reported in the journal Angewandte Chemie. Supercapacitors are capacitors that can take up and release a very large amount of energy in a very short time. Key requirements for supercapacitor electrodes are a large surface area and conductivity, combined with a simple production method. Another growing issue in supercapacitor production—mainly for smartphone and electric car technologies—is sustainability. However, sustainable and economical production of carbon aerogels as supercapacitor electrode materials is possible, propose Shu-Hong Yu and colleagues from the University of Science and Technology of China, Hefei, China. Click Read More below for additional information.
The continued existence of Germany's specialty paper manufacturer Feldmuehle Uetersen, which has been in insolvency proceedings since January this year, is assured. With effect from 1 June, the company will be taken over by a holding company, according to Andreas Jung, spokesman of insolvency administrator Dr. Tjark Thies. The company reports that the buyer is a holding company that has not yet been active in the paper industry. Paper production is said to continue unchanged. Feldmuehle Uetersen can produce up to 250,000 tpy of white, coated label paper, packaging paper, and graphic paper.
A company with a Middletown presence is laying off 60 employees starting this summer. All affected employees at Essity Operations Wausau, 700 Columbia Ave., have been notified of their layoff dates and that their separation from employment will be permanent, according to a mass layoff notice sent Thursday to the Ohio Department of Job and Family Services. Employees are expected to be terminated from employment starting Aug. 16, with all separations complete by the end of September. Fifty-four of the affected employees are represented by a union. Click Read More below for additional information.
RISI reports that Lecta and Burgo are separately raising prices by 6% to 7% on CWF and UWF grades effective with deliveries from July 2018 onward.
Total Company net sales for the three months ended April 30, 2018, increased 12.4% over the same period last year to a record $856 million. Comparable Retail segment net sales increased 10%, driven by strong, double-digit growth in the digital channel and positive retail store sales. By brand, comparable Retail segment net sales increased 15% at Free People, 10% at the Anthropologie Group and 8% at Urban Outfitters. Wholesale segment net sales increased 13%. Net income for the three months ended April 30, 2018, was $41 million and earnings per diluted share was $0.38. Click Read More below for additional information.
Total revenue of $16.8 billion increased 3.4 percent from $16.2 billion last year, reflecting sales growth of 3.5 percent combined with a slight decline in other revenue. First quarter sales growth reflected comparable sales growth of 3.0 percent combined with the contribution from non-mature stores. Comparable digital channel sales grew 28 percent and contributed 1.1 percentage points of comparable sales growth. Operating income was $1,041 million in first quarter 2018, down 9.9 percent from $1,155 million in 2017. First quarter operating income margin rate was 6.2 percent, compared with 7.1 percent in 2017. First quarter gross margin rate was 29.8 percent, compared with 30.0 percent in 2017, reflecting pressure from digital fulfillments costs and sales mix, partially offset by the benefit of the Company's cost saving efforts and the net impact of changes to the Company's pricing and promotions. Click Read More below for additional information.
Reality is setting in for about 225 paper mill workers in Camas. Layoffs announced in November 2017 are now underway. Many losing their jobs have worked at the mill for decades. Workers expressed a lot of sadness, grieving the loss of jobs they spent decades doing. The decision is forever changing the city that was built around it. “There's been a paper mill in Camas for 138 years,” Korhonen said. “We were proud to make paper in Camas." Click Read More below for additional information.
DS Smith will acquire Corrugated Container Corporation (CCC), for an undisclosed amount, to boost its box-making capacity. It will acquire four CCC facilities in North America in Tennessee, North Carolina and two sites in Virginia, which employs more than 190 people. Click Read More below for additional information.
Allen Press, Inc. is pleased to announce the addition of Colleen Gregoire as Marketing Strategist. Colleen brings over 20 years of experience in print and digital marketing, graphic design, direct mail and program development. In her new role, Gregoire will focus on helping Lawrence businesses develop innovative and results-driven marketing strategies. Colleen will be a valuable resource to the local business community and will help grow Allen Press’s in-house marketing agency. Click Read More below for additional information.
The global oil benchmark flirted with the $80-a-barrel level again on Tuesday, underlining concerns that an unexpectedly strong crude rally could eventually begin to weigh on economic growth. The combination of renewed U.S. sanctions on Iran, potential sanctions on Venezuela, a rising geopolitical risk premium, strong demand and other factors have made talk of $100 crude sound less outlandish. Indeed, some analysts argue that the backdrop now leaves the market more open to potential price spikes. So what if oil did climb back to triple digits for the first time since 2014? Economists led by Arend Kapteyn at UBS laid it out in a wide-ranging note on Tuesday. Click Read More below for additional information.
Much like photography itself, Shutterbug magazine is turning its focus to digital. Today, UK-based AVTech Media announced it is ceasing Shutterbug magazine’s print edition after 45 years in order to pour more resources into its website, citing a seven-fold increase in digital traffic over the last four years. Despite a circulation of nearly 100,000 readers, the cost of production and slipping ad revenues evidently called for a strategic shift. Click Read More below for additional information.
Second quarter net revenue of $7.5 billion was up 10% from the prior year and up 6% when adjusted for currency. Second quarter GAAP diluted net earnings per share (“EPS”) from continuing operations was $0.54, up from GAAP diluted net EPS from continuing operations of ($0.29) in the prior-year period. Click Read More below for additional information.
Interfor Corporation announced that it has resumed operations at its sawmill in Grand Forks, BC following severe flooding in the area over the past two weeks. The sawmill was temporarily curtailed on May 10, 2018 as a precautionary measure due to the escalating flooding in the region. Even though the sawmill was not operating during this time, a series of measures were taken by mill personnel to protect the operation against potential damage. Fortunately, such actions limited the risk to the mill’s infrastructure and equipment and has allowed the mill to resume operations now that the water level has receded. There are ongoing issues in the region related to rail line damage and the Company will be working with its carriers and customers to manage through the related logistics issues. Click Read More below for additional information.
The four large publicly traded consumer publishers that recently reported their financial results for the quarter ended March 31 were all able to point to some good financial news. HarperCollins had the best results, with sales up 6.4% compared to the same quarter last year and profits rising 16.2%. In a conference call discussing results, Susan Panuccio, CFO of HC parent company News Corp, said the sales gains were led by the general and Christian publishing divisions. Backlist titles did particularly well, accounting for 58% of revenue in the quarter, compared to 52% a year ago, Panuccio said. She added that the strong performance of the backlist helped to boost margins. Another important contributor was downloadable audiobooks. The format had strong gains in the quarter, helping to offset softness in e-book sales and leading to a 5% increase in overall digital sales at HC compared to the prior year. The company said that downloadable audio accounted for about 25% of all digital revenue in the recent period. Digital sales represented 22% of consumer revenue for the quarter—the same percentage the format accounted for in the quarter last year. Click Read More below for additional information.
Stora Enso and Sulapac have signed a joint development agreement to combat the global problem of plastic waste by accelerating the use of fully renewable, recyclable and biodegradable materials in packaging. Through the joint development agreement, Stora Enso will licence Sulapac’s materials and technology, and begin the development of fully renewable caps and closures for liquid packages. Other areas for joint development work include food packages and packages for consumer electronics. Click Read More below for additional information.
Arandell Corp., the trusted leader in premier catalog printing and omni-channel solutions, announced today that V. Clark Vialle has joined the New Business Development Sales Team to enhance the Northeastern/Greater Boston market. Vialle is Arandell’s newest sales executive to join this month, strengthening its sales force to meet the needs of the company’s continued growth plan. In this position, Vialle will be responsible for new client acquisition and client consultation in areas of marketing strategy, quality and color improvements, paper, print production and postal optimization. Vialle will report to Stephen Sanfelippo, Arandell’s Senior Vice President of Sales and Marketing. Click Read More below for additional information.
Crude prices strengthened on Monday, reversing course as geopolitical tensions continued to support the market and a trade war between the U.S. and China was declared "on hold." Geopolitical concerns that U.S. sanctions on Iran could curb the country's crude exports have led crude prices to trade higher in recent weeks, and the market is now weighing the possibility of additional sanctions on Venezuela following the country's presidential election. Click Read More below for additional information.
Financial Highlights •Total revenues grew by 13% to £161.5 million (2016/17: £142.6 million). Revenues from overseas customers grew by 16% to £101.2 million, and are now 63% of total revenues •Profit before taxation and highlighted items* grew by 10% to £13.2 million (2016/17: £12.0 million), above market expectations •Proposed final dividend of 6.36p per share, making a total dividend of 7.51p per share for the year, up 12% (2016/17: 6.7p per share) •Diluted earnings per share, excluding highlighted items*, grew by 10% to 13.92p (2016/17: 12.63p) •Strong cash conversion of 161% (2017: 180%), with net cash of £25.4m at 28 February 2018 (2017: £15.5m) •Strong autumn book list and acquisition of I. B. Tauris & Co. Ltd ("IBT") will mean performance for 2018/19 will be well ahead of our previous expectations. Click Read More below for additional information.
What do toothpaste, perfume, soap and ink have in common? The surprising answer is turpentine. This versatile byproduct of the pulp- and paper-making process is used in a wide range of everyday products. Consider a typical day: You wake up and brush your teeth. Then you take a shower using your favorite soap. After you get dressed, you apply some makeup or a spritz of cologne or perfume. You might not have realized it, but before you left home this morning, you used a number of products that contain a special form of turpentine that Domtar makes. Your perfume’s floral fragrance and your toothpaste’s minty freshness originated as crude sulfate turpentine, a USDA-certified, all-natural and renewable byproduct of the pulp- and paper-making process. In fact, many of the scents and flavorings in products you encounter every day are derived from byproducts of the pulp- and paper-making process. Click Read More below for additional information.
Digital presses have revolutionized the packaging industry, delivering high-impact color and creating a new paradigm for versioning and customization. Despite its innovations, digitally printed packaging has not always offered solutions across the full spectrum of sizes and quantities. With the launch of Hummingbird™ digital packaging solutions, Georgia-Pacific is overcoming that barrier by producing digital pre-print for a full range of customer needs, from specialty versions to everyday large runs and beyond. Hummingbird is the first packaging supplier in North America to provide 110-inch wide web capability for digital pre-print at lengths limited only by converting capability. The technology delivers high-quality, digitally printed corrugated packaging that gets products to market up to 80 percent faster than traditional methods and provides a new range of marketing and supply chain management opportunities for brands. The size, quality and speed of the press also dramatically increases the cost effectiveness of digitally printed packaging, even at high volume. Click Read More below for additional information.
The food-safe MB12 packaging helps customers to eliminate mineral oil migration with a sustainable solution. The Smurfit Kappa MB12 technology is designed to prevent the migration of mineral oil into packaged food. MB12’s efficiency has been verified by Eurofins, the world leader in food and pharmaceutical product testing, to give customers full confidence that the primary packaging acts as a barrier to provide robust protection against outside influences.1 An independent year-long study by the Technical University of Dresden found that Smurfit Kappa’s MB12 was the most effective product on the market for protecting packaged food against potential contamination. Click Read More below for additional information.
Sun Chemical has named Cyngient as a strategic distribution partner of its inks, coatings, and other solutions for offset, narrow web tag and label (NWTL), commercial sheetfed and folding carton printers. The new partnership allows Sun Chemical and Cyngient to reach their North American inks customers faster and more efficiently, and jointly provide customers with technical and product support. Cyngient customers will now have access to Sun Chemical’s full range of solutions for the marketplace which can be combined with many of Cyngient’s specialties, including special effects, soft touch and tactile coatings, cold foil solutions, and in-mold products. Click Read More below for additional information.
Effective with all orders shipping on or after July 1, 2018, Evergreen Packaging is raising the transaction price on all specialty and coated groundwood products by $2.00/cwt. This increase applies to all products, including, but not limited to, the brands listed below: TruSpec4; TruSpec4.5; TruSpec5; Coated Freesheet; Coated 1-Side. ALL Grades, Basis Weights and Finishes. All standard upcharges will continue to apply.
Total boxboard production increased 4.0 percent when compared to April 2017 and increased 2.6 percent from last month. Unbleached Kraft Boxboard production increased over the same month a year ago and increased compared to last month. Total Solid Bleached Boxboard & Liner production increased when compared to April 2017 and increased compared to last month. The production of Recycled Boxboard increased compared to April 2017 and increased when compared to last month.
Total printing-writing paper shipments decreased four percent in April compared to April 2017. Total printing-writing paper inventory levels decreased less than one-half of one percent from March. Imports of printing-writing papers decreased less than one-half of one percent compared to March 2017 imports, while exports remained flat compared to March 2018. •Uncoated free sheet (UFS) paper shipments in April 2018 increased year-over-year, the third increase in four months. Imports of UFS decreased 22 percent year-over-year in March – the tenth consecutive decrease of 12 percent or more. Exports of UFS papers increased 25 percent in March compared to March 2017. •Shipments of uncoated mechanical (UM) papers decreased year-over-year in April 2018 by more than 20 percent. Imports of UM decreased one percent year-over-year in March. Exports of UM decreased 45 percent year-over-year in March. •Shipments of coated free sheet (CFS) paper and coated mechanical (CM) papers in April both declined year-over-year for the eleventh consecutive month. Imports of CM papers increased 33 percent compared to March 2017, partly on the strength of a 47 percent year-over-year increase in CM imports from Canada.
Wisconsin based paper mill, celebrates Paper & Packaging – How Life Unfolds® promotional campaign from the Paper and Packaging Board. The Paper & Packaging – How Life Unfolds® campaign is an industry-funded effort to highlight the important role paper and packaging play in lives, helping to accomplish goals and keep goods and products safe. “We are pleased to see the Paper & Packaging – How Life Unfolds® campaign in the market,” said Jim Koronkiewicz, BPM General Manager. “Our mill has made paper for over 75 years and while we have observed the increased use in technology, statistics show that paper usage creates a long-lasting impression and helps aid communication. The use of promotional videos, information and new brand ambassadors help to strengthen the consumer connection established by the campaign." Click Read More below for additional information.
President Trump has personally pushed U.S. Postmaster General Megan Brennan to double the rate the Postal Service charges Amazon.com and other firms to ship packages, according to three people familiar with their conversations, a dramatic move that probably would cost these companies billions of dollars. Brennan has so far resisted Trump’s demand, explaining in multiple conversations occurring this year and last that these arrangements are bound by contracts and must be reviewed by a regulatory commission, the three people said. She has told the president that the Amazon relationship is beneficial for the Postal Service and gave him a set of slides that showed the variety of companies, in addition to Amazon, that also partner for deliveries. Click Read More below for additional information.
Kimberly-Clark announced its 2018 Bright Futures Scholarship Program has awarded $1.2 million in college scholarships to 60 children of Kimberly-Clark employees in 17 U.S. states. Recipients were chosen based on academic achievement, leadership, work experience and involvement in extracurricular activities. Marking its 26th year, the Bright Futures program provides scholarship grants worth up to $20,000, or $5,000 per school year, for full-time students attending accredited colleges and universities. Since its inception, the program has awarded over $40 million in scholarships to more than 2,000 students. Click Read More below for additional information.
On 21.5.2018, the Helsinki Court of Appeal rendered its judgment in a case in which Metsähallitus claims damages from Metsäliitto Cooperative, Stora Enso Oyj and UPM-Kymmene Corporation based on their conduct on the wood market in 1997–2004. In its judgment, the Court of Appeal rejected the claims made by Metsähallitus and ordered Metsähallitus to compensate the defendants’ legal costs. The total amount of the joint and several claim for damages made by Metsähallitus in the Court of Appeal was 124.9 million euros. Metsäliitto Cooperative’s share of the capital of the claimed damages was 39.1 million euros. In addition, Metsähallitus claimed compensation for indirect damages, VAT, interest and compensation for legal costs. Click Read More below for additional information.
The Austrian, Canadian, UK and Uruguayan national forest certification systems have successfully achieved PEFC re-endorsement, confirming they continue to meet our globally recognized Sustainability Benchmarks. Combined, these four systems account for over 40 million hectares of sustainably managed forest. For both Austria and the UK, this is the fourth time these systems have achieved PEFC endorsement; it is the third time for Canada and the second for Uruguay. Click Read More below for additional information.
Unit sales of print books fell by less than 1% in the week ended May 13, 2018, compared to the similar week in 2017, at outlets that report to NPD BookScan. Gains in nonfiction largely offset declines in fiction in the week. Units increased 4% in the adult nonfiction category over the week ended May 14, 2017, as the segment had the industry’s two biggest-selling books: Magnolia Table by Joanna Gaines sold more than 171,000 copies, while The Soul of America by Jon Meacham sold nearly 39,000 copies in its first week, landing it in the second spot on both the category and overall bestseller lists. Print unit sales in juvenile nonfiction rose 7% over 2017; a number of new books helped give the segment a boost. Click Read More below for additional information.
The aim of the partnership is to construct a new facility to produce advanced renewable fuels from tall oil with a capacity of 100 000 tonnes per annum. Construction of the new facility, subject to permission process and final approval from both companies, is expected to cost around 500 MSEK to build and is planned to be operational in 2021. Tall oil is a residual product from the production of kraft pulp in SCA’s mills Östrand, Obbola and Munksund. SCA is presently expanding its kraft pulp mill Östrand and as a result the production of tall oil from the mill will increase by more than 100 per cent. Between the two partners, the parties constitute the full value-chain from the raw material to the refining process, distribution and sale of the renewable fuel to the customers. Click Read More below for additional information.
Greenpeace announced its decision to withdraw its engagement with APP after 5 years of cooperation. The issues flagged by Greenpeace that resulted in this disengagement came to light when Associated Press raised some of these concerns in an article in December last year. Since then APP has worked specifically to address the problems that fall within the scope of responsibility of the company, including agreeing on a detailed action plan with TFT to address these issues. Despite concerns raised by Greenpeace, our teams remain confident that maintaining an open dialogue and a strong working relationship with APP and all its stakeholders is essential to achieving success. We have witnessed this along our journey of supporting APP’s Forest Conservation Policy since 2013, where we faced similar challenges and found solutions collectively. Hence, TFT recommends that customers stay engaged with APP and their supply chain, closely tracking the company’s progress till the issues are resolved. Markets should also not move away from the transformation journey. Their support for transformation is essential to make sure this positive move happens. Click Read More below for additional information.
Please be advised that, effective with deliveries July 1, 2018, the US transaction price for the following grades from Catalyst Paper will be increasing for new and existing orders. Grades impacted include: Orion®; Vision®; Escanaba®; Dependoweb®; Capri®; Consoweb®. This increase applies to all basis weights as designated above, finishes and grade extensions.
Total Company net sales increased 5.8 percent for the first quarter ended May 5, 2018 compared with the quarter ended April 29, 2017. This reflected an increase of approximately 250 basis points primarily due to the shift of a Nordstrom Rewards loyalty event into the first quarter relative to the second quarter last year. Comparable sales for the first quarter ended May 5, 2018 increased 0.6 percent, compared with the 13-week period ended May 6, 2017. First quarter net earnings were $87 million compared with $63 million during the same period in fiscal 2017. Results in 2017 included an interest expense charge of $18 million related to a debt refinancing. Click Read More below for additional information.
The bio-methanol treatment plant supplied by ANDRITZ is designed to produce 5,000 tons of bio-methanol per year. The plant is a key part of a new process producing sustainable bio-methanol from renewable raw material. Bio-methanol can be used in shipping, for example, as a stand-alone fuel, as well as for the production of biodiesel (RME), as an additive in petrol, or as a raw material in the chemical industry. The methanol produced is compliant with the IMPCA Reference Specifications for merchantable methanol. Start-up of the plant is scheduled for the third quarter of 2019. The global methanol production is in the order of 80 million tons per year and is generated mostly from fossil raw materials. In the chemical wood pulping process, methanol is formed as a by-product that contains many impurities. This raw methanol is purified to a merchantable bio-methanol, which is chemically identical to fossil-based methanol. The bio-methanol generated contributes towards reducing the amount of fossil greenhouse gas emissions. Click Read More below for additional information.
National Average Price for Regular – Current: $2.914; Month Ago: $2.731; Year Ago: $2.338. National Average Price for Diesel – Current: $3.167; Month Ago: $3.017; Year Ago: $2.499.
American Dollar to Canadian Dollar = 0.780393; American Dollar to Chinese Yuan = 0.156770; American Dollar to Euro = 1.178209; American Dollar to Japanese Yen = 0.009010; American Dollar to Mexican Peso = 0.050626.
Brent, the international benchmark for oil prices, hit a session high of $80.50 a barrel on Thursday, its strongest level since Nov. 24, 2014, when it topped out at $80.85. The contract eased back to $79.19 by 2:25 p.m. ET, down 9 cents. U.S. West Texas Intermediate crude ended the day unchanged from the previous session at $71.49 a barrel. WTI earlier hit a high going back to Nov. 28, 2014 at $72.30 a barrel. Click Read More below for additional information.
heinzelsales (Wilfried Heinzel AG), the sales network of Heinzel Group, announces the acquisition of Firgos (Malaysia) Sdn. Bhd., a paperboard trading company based in Kuala Lumpur, Malaysia. With a team of eleven employees and a representative office in Ho Chi Minh City, Vietnam, Firgos Malaysia offers paper and board products from suppliers around the world to customers across Southeast Asia. heinzelsales has taken over the company from Mayr-Melnhof Cartonboard International GmbH, a subsidiary of Austrian paperboard producer Mayr-Melnhof Karton AG. Mayr-Melnhof will continue serving Southeast Asian customers through Firgos Malaysia. Click Read More below for additional information.
Sappi North America announced the call for entries for its 2018 Ideas that Matter grant program, inviting designers to show the world how design – specifically print – can play an important role in changing lives for the better. Sappi established the Ideas that Matter grant program 19 years ago to fund designers who apply their creative talents to causes that address significant issues facing our society. For nearly two decades, Sappi has witnessed firsthand how the creative and integrated work of designers can change society. Sappi remains committed to the belief that good ideas inspire people to take action, and great ideas change the world. Though many media choices are available, print is at the heart of influential and effective messaging and a perfect complement to promote positive social causes. Click Read More below for additional information.
Containerboard production was up 0.7 percent compared to April 2017 and up 0.7 percent year-to-date. The month-over-month average daily production compared to March 2018 was 0.5 percent lower. The containerboard operating rate was 98.3 percent, 2.5 percentage points higher than the same month last year. Production for exports was 3.0 percent lower than April 2017 and 5.8 percent lower year-to-date.
Total Packaging Papers shipments were up 12.3 percent compared to April 2017, but down 1.0 percent year-to-date. Bag & Sack shipments were flat year-to-date. Multiwall shipments were down 6.7 percent, Converting shipments were down 0.4 percent and Food Wrapping shipments were up 3.1 percent. The operating rate for April increased slightly to 92.9 percent from 92.7 percent in March. Inventories were down 0.8 percent since March.
Effective with all new and existing orders with confirmed delivery dates of July 1, 2018 or later, Verso Corporation is increasing the transaction price of all Coated Freesheet Web and Coated Groundwood Web grades by 4% to 6%. This includes, but, is not limited to: ArborWeb Plus® web; Sterling® Ultra web; Sterling® Ultra caliper web; Productolith® Pts. web; Publishers Matte®; Publishers ThinBulk®; ArborWeb® web; Influence® web; Focus® web; Liberty® web; Balance® web; New Era® Matte; New Era® ThinBulk. The increase applies to all basis weights, bulks, finishes and related private label grades.
Owens-Illinois, Inc. announced that it has finalized plans to cease production at its Atlanta, GA, plant. The closure is expected to occur on or after July 18, 2018. O-I intends to facilitate the closure in a respectful manner for the approximately 250 people impacted at the Atlanta plant. Current customers of the plant will be served by other domestic plants in the O-I network. The Company remains strongly focused on optimizing the overall efficiency of, and investments in, its regional plant network. The required capital outlay for the Atlanta operations and continued decline of beer in the domestic market influenced the decision to close the plant. O-I's supply-demand profile in the U.S. will be roughly balanced after this closure. Click Read More below for additional information.
White Birch Paper set a $22/tonne price increase on shipments of 45-g (27.7-lb) newsprint, effective June 15. All other basis weights will be increased according to past practice, White Birch said.
◾ Revenues rise to €3.99 billion ◾ Organic growth improves to 2.7 percent ◾ High-growth businesses show organic revenue growth of 7.9 percent ◾ Operating EBITDA before negative exchange-rate effects up year-on-year ◾ Group profit at €172 million. Click Read More below for additional information.
Whether you write a little or a lot, you should take a moment to look for errors before sending that email or submitting that report or presentation. But should you proofread on paper or on your computer? We asked professionals for their top proofreading tips, and they recommended proofreading on paper. Why? Because proofreading on paper delivers better results. Tom Stafford, who studies typos (short for typographical errors) at the University of Sheffield in the United Kingdom, explained why it can be so difficult to spot errors when proofing onscreen. Click Read More below for additional information.
Fortress Global Enterprises Inc. reported 2018 first quarter operating EBITDA loss from continuing operations of $1.4 million compared to operating EBITDA loss from continuing operations of $5.7 million in the previous quarter and operating EBITDA from continuing operations of $6.0 million in the prior year comparative period. The Dissolving Pulp Segment generated operating EBITDA of $0.2 million and corporate costs were $1.6 million in the first quarter of 2018. Click Read More below for additional information.
Huhtamaki La Rochelle in France is proud to introduce a new range of bottle dividers, the PRESTIGE, created in collaboration with Vitis Valorem, located at Meursault, Burgundy. PRESTIGE range is the result of a big idea, paying homage to the vitality and natural qualities of wine and at the same time building on our deep knowledge of using recycled materials. Our new bottle divider uses a new and unique raw material normally wasted every year: vine shoots. “Our aim was to create a high-quality, natural bottle divider solution for wineries including a new sustainable raw material,” says Amandine Duranton, Wine Segment Sales Manager from Huhtamaki in France. “The 100% biodegradable and recyclable PRESTIGE wine bottle dividers are made of recycled paper and vine shoot powder.” Click Read More below for additional information.
InnerWorkings, Inc. announced a new long-term contract with Pabst Brewing Company, North America’s largest privately held brewing company. Under a five-year contract, InnerWorkings will be the exclusive provider for Pabst’s retail marketing execution. The full scope of services includes branded merchandise, creative services, retail environments and displays, warehousing and logistics, and point-of-sale marketing collateral – all powered by a single technology solution to simplify processes, deliver flexibility, and improve transparency. InnerWorkings will reinvent the buying process for Pabst, add creative resources to support innovation, and advance the migration toward a digital in-store customer experience. Click Read More below for additional information.
For the first quarter ended May 5, 2018, total net sales decreased 4.3 % to $2.58 billion compared to $2.70 billion for the first quarter ended Apr. 29, 2017. The decline in total net sales was primarily the result of the 141 stores that closed in the second and third quarters of fiscal 2017. Comparable sales increased 0.2 % for the first quarter. Credit income, which was previously reflected as a reduction to SG&A, was $87 million for the first quarter this year compared to $83 million in the first quarter last year. For the first quarter, the Company’s net loss was $78 million, or ($0.25) per share, compared to a net loss of $187 million, or ($0.60) per share in the same period last year. Adjusted net loss was $69 million, or ($0.22) per share, for the first quarter this year compared to adjusted net income of $2 million, or $0.01 per share, for the first quarter last year. Click Read More below for additional information.
The Group's consolidated sales went up to EUR 592.1 million and were thus 1.3 % above the comparative figure of the previous year (1Q 2017: EUR 584.5 million). The slight increase results from both divisions. Operating profit at EUR 57.1 million was 12.8 % or EUR 6.5 million above the previous year’s value (1Q 2017: EUR 50.6 million). A rise at the cartonboard division contrasted with a decline at the packaging division. The Group's operating margin reached 9.6 %, following 8.7 % in the first three months of 2017. Click Read More below for additional information.
•Total revenue was $122.7 billion, an increase of $5.1 billion, or 4.4%. Excluding currency2, total revenue was $120.7 billion, an increase of $3.2 billion, or 2.7%. •Walmart U.S. comp sales1,2 increased 2.1%, and comp traffic increased 0.8%. •Sam's Club comp sales1,2 increased 3.8% led by comp traffic growth of 5.6%. Tobacco sales negatively impacted comp sales by approximately 140 basis points •The company generated $5.2 billion in operating cash flow. Click Read More below for additional information.
Meredith Corporation's FOOD & WINE announced that its June issue marks the debut of a fresh editorial redesign. The issue is on newsstands today and is accessible at FoodandWine.com. Since joining FOOD & WINE in June 2017, Editor-in-Chief Hunter Lewis has led the brand's creative team to inspire and empower their audience to eat, drink, entertain, and travel better—every day and everywhere. The purpose of the magazine's design evolution is to deliver a fresher look, a more joyful experience, and more service on every page. "We're excited to give coverage of food, recipes, and drink even more real estate in every issue," said Lewis. "With any creative endeavor, the look will continue to evolve, as will our coverage of the chefs, winemakers, and tastemakers who are shaping our dynamic food and drink culture." Click Read More below for additional information.
We are announcing a US$22/metric tonne (for 45.0 gsm) newsprint price increase effective with shipments on or after June 15, 2018. Other basis weights will be adjusted accordingly. Please note that this price increase does not apply to Ponderay Newsprint Company.
Net sales in the first quarter of 2018 totaled $5.541 billion, an increase of 3.6 percent, compared with sales of $5.350 billion in the first quarter of 2017. Comparable sales on an owned basis were up 3.9 percent in the first quarter and up 4.2 percent on an owned plus licensed basis. The company estimates that comparable sales in the first quarter of 2018 benefited approximately 250 basis points from the shift of Friends and Family from the second quarter to the first. Excluding this, the company estimates that comparable sales were up 1.7 percent on an owned plus licensed basis. Macy's, Inc.'s operating income for the first quarter of 2018 totaled $238 million, or 4.3 percent of sales, compared to $219 million, or 4.1 percent of sales, for the first quarter of 2017. Operating income for the first quarter of 2018 totaled $257 million, or 4.6 percent of sales, excluding impairment and other costs of $19 million, which primarily relate to the wind-down of Macy's China Limited as discussed below. The company anticipates recognizing additional charges of approximately $10 million related to the wind-down over the course of fiscal 2018. There were no impairment and other costs in the first quarter of 2017. Click Read More below for additional information.
A bipartisan group of lawmakers in the U.S. Senate, led by Susan Collins (R-Maine) and Angus King (I-Maine), have introduced a bill that would delay dumping tariffs and countervailing duties currently being applied to imports of Canadian uncoated groundwood (UGW), or newsprint, being used primarily by newspaper, book, directory and circular printers, as well as other publishers and printers. The PRINT (Protecting Rational Incentives in Newsprint Trade) Act would suspend the import taxes of up to 32% on Canadian uncoated groundwood paper and would require the U.S. Department of Commerce to complete a study within 90 days on the economic health of the newsprint and U.S. newspaper industry in general. The bill would also postpone any action by the Commerce Department and the International Trade Commission on newsprint import duties until President Donald Trump receives the report and certifies that the taxes are in the economic interests of the United States. Click Read More below for additional information.
Asia Pulp & Paper (APP) is disappointed by the statement released by Greenpeace today. Greenpeace has been an integral partner in our sustainability journey since 2013, and their engagement and support has resulted in much progress in the fight against deforestation in Indonesia. Greenpeace were instrumental in the drafting of our Forest Conservation Policy (FCP), which has helped APP achieve a deforestation-free supply chain. Among many other achievements, APP has also identified and protected more than 600,000ha of natural forest through the implementation of High Carbon Stock Approach and High Conservation Value studies within its concessions and those of its third party suppliers. Their statement today, however, has expanded the issue to the rest of the Sinar Mas Group, which is outside the scope of the FCP. Over the past three months, we have been communicating with Greenpeace transparently to address the issues raised by Associated Press (AP) report. Click Read More below for additional information.
Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel subsidies, the International Energy Agency said on Wednesday. Oil has risen 51 percent in the last year, driven by coordinated supply cuts and, this month, by concern over Iranian supply after the United States said it would reimpose sanctions on Tehran over its nuclear activities. Click Read More below for additional information.
For nearly two decades, our Rainforest Alliance partnership has helped preserve the integrity of North American forests and promote biodiversity conservation through responsible paper production and fiber sourcing. Our shared initiatives include some of the earliest forest certification projects as well as ongoing landowner education efforts. The Rainforest Alliance’s CEO, Han de Groot, recently spoke about changes at the organization since their merger with UTZ this past January and the enduring relationship and shared goals with Domtar. Q: Our Rainforest Alliance partnership has endured since 2000, thanks to our shared ideas on sustainable forestry. What makes this partnership unique? Click Read More below for additional information.
First-quarter U.S. e-commerce sales grew 14.1% compared with the first quarter of 2017, according to Adobe Analytics’ Digital Dollar report—a new year-round report that tracks revenue trends beyond the holidays. While not as strong as Q4’s 2017 year-over-year growth of 14.7%, Adobe says this is the first-ever Q1 with more than $100 billion in U.S. online retail revenue. Adobe’s data is based on an analysis of more than 1 trillion visits to more than 4,500 retail sites and 55 million SKUs, and it measures online transactions at what Adobe considers to be 80 of the largest 100 U.S. web retailers. Click Read More below for additional information.
Metsä Group has established a new innovation company, Metsä Spring Ltd. The company will, together with partner organisations, invest in new endeavours with the target to identify and develop new business opportunities in sustainable forest-based bioeconomy and circular economy. Niklas von Weymarn has been appointed CEO of the company. He transfers to Metsä Spring from the position of VP, Research in Metsä Fibre, also part of Metsä Group. The office of Metsä Spring is in the heart of the internationally-acknowledged Otaniemi innovation campus in Espoo, Finland. The establishment of the new innovation company does not affect the current research and development activities of Metsä Group’s current business areas. ”With the establishment of Metsä Spring, we want to create a new dimension to Metsä Group’s innovation activities and thereby participate more actively in the development of new business concepts in forest-based bioeconomy and circular economy. A large share of new ideas are generated outside our company and the new business concepts are increasingly developed in novel partnerships. The new innovation company enables Metsä Group to better take part in this activity,” says Metsä Group’s President and CEO and Metsä Spring’s Chairman of the Board Ilkka Hämälä. Click Read More below for additional information.
Bookstore sales rose 3.5% in March over the same month in 2017, according to preliminary estimates released by the U.S. Census Bureau. Sales for the month were $734 million, up from $709 million a year ago. The March increase followed a 2.3% gain in February, which ended a six-month slide in bookstore sales. The two-month rally in bookstore sales, however, was not quite enough to overcome the steep decline bookstore sales posted in January. Click Read More below for additional information.
TC Transcontinental Packaging is pleased to announce that it swept the Wide Web/Process/Film category at the 2018 Excellence in Flexography Awards of the Flexographic Technical Association (FTA) by winning a Bronze, Silver and Gold award. Additionally, TC Transcontinental Packaging was the recipient of the coveted “Best of Show” award, for Transcontinental Robbie’s Post Fruity Pebbles/Cocoa Pebbles packages, while also winning a Silver award in the Wide Web/Line/Film category as well as in the Wide Web/Screen/Film category, a Bronze in the Wide Web/Screen/Coated Paper category, and a Self-Promotion award for its Inspire NexGen 240 bag. For the second year in a row, TC Transcontinental Packaging has been recognized with the prestigious “Best of Show” for its printing performance and execution. These back-to-back awards are further proof that TC Transcontinental Packaging is creating some of North America’s finest and most innovative flexible packaging; each carefully tailored and printed to meet the specific needs of its customers. Click Read More below for additional information.
Stora Enso launches its Green Bond Framework as part of its Sustainable Finance approach. The ambition is to offer a loan-format to support sustainability-focused fixed income investors and to report the direct environmental impacts of some its investments and business activities. The Group will use this bond format to complement its other funding sources. Stora Enso’s strategy on Sustainable Finance is a natural part of its overall agenda on sustainability and an integral part of its focus on being the world’s leading renewable materials company. Stora Enso’s goal is to work with funding partners for whom sustainability is a key part of their lending agenda. Stora Enso’s aim is to have all its suppliers, including those for financial services join the Stora Enso Supplier Code of Conduct. We see this as generating competitive advantage and thus prefer to partner with banks and financial service providers that make sustainability a leading issue in their respective eco-systems. Click Read More below for additional information.
Stora Enso is launching its wood-based biocomposites, DuraSense™ by Stora Enso. This is another major step on the group’s journey to replacing fossil-based materials with renewable solutions. DuraSense is available to companies seeking high performance and a sustainable, bio-based alternative to plastics. DuraSense enables the use of renewable fibres, such as wood, to substitute for a large portion of fossil-based plastic. The production of biocomposites began in 2018 at Stora Enso’s Hylte Mill in Sweden, following the EUR 12 million investment announced in 2017. At full production, the mill’s annual production capacity is 15 000 tonnes, which is the largest capacity in Europe dedicated to wood fibre composites. Click Read More below for additional information.
The Home Depot®reported sales of $24.9 billion for the first quarter of fiscal 2018, a 4.4 percent increase from the first quarter of fiscal 2017. Comparable sales for the first quarter of fiscal 2018 were positive 4.2 percent, and comp sales in the U.S. were positive 3.9 percent. Net earnings for the first quarter of fiscal 2018 were $2.4 billion, or $2.08 per diluted share, compared with net earnings of $2.0 billion, or $1.67 per diluted share, in the same period of fiscal 2017. For the first quarter of fiscal 2018, diluted earnings per share increased 24.6 percent from the same period in the prior year. Click Read More below for additional information.
Allen Press, Inc. and The Pitch magazine are pleased to announce a new printing relationship. The Pitch will be printed in Lawrence, Kansas by Allen Press beginning with the June 2018 issue. “As local owners ourselves, we’re really pleased to connect with Allen Press to be our exclusive magazine printing partner,” said Stephanie Carey. Carey and her husband Adam, both natives of Kansas City, purchased The Pitch late last year and restored the alternative publication to local ownership again for the first time in nearly twenty years. “We knew of Allen Press by its reputation for high-quality work in the Kansas City area and the region,” said Adam Carey, chief operating officer for The Pitch. “They share our commitment to the Lawrence and Kansas City communities and we think they’re an ideal fit,” he added. Click Read More below for additional information.
Barnes & Noble, Inc. announced the return of its customer-favorite Summer Reading Program. Now in its 22nd year, the Barnes & Noble Summer Reading Program encourages kids across the country in grades 1-6 to celebrate the joy of reading all summer long and gives them the exciting opportunity to earn a free book by reading eight books and turning in a completed reading journal listing the books they’ve read. Free books this year include perennial favorites such as Pete the Cat, Charlie and the Chocolate Factory and Artemis Fowl, plus many more for children in grades 1-6. “The Summer Reading Program is one of our most popular campaigns at Barnes & Noble because it encourages kids to engage with reading material during the summer, while providing parents with the peace of mind that their families are still learning and growing,” said Stephanie Fryling, Vice President of Merchandising, Children’s Books at Barnes & Noble. “We’re really excited about this year’s exceptional lineup of recent bestsellers and timeless favorites, and we encourage kids across the country in grades 1-6 to get their journals soon so they can experience the joy of reading and earn their free book.” Click Read More below for additional information.
BillerudKorsnäs today announces that negotiations with labour unions over a proposal for new organisation will be initiated within short. The proposal contains a full profit and loss responsibility in three divisions. “During my first months with BillerudKorsnäs, it has become clear to me that we have great conditions for profitable growth. In order for us to take maximum advantage out of these conditions, we need to become faster and clarify accountability within the company. This we now want to accomplish through a new organisation in three divisions with full profit and loss responsibility”, says Petra Einarsson, President and CEO of BillerudKorsnäs. Click Read More below for additional information.
Oil prices rose on Monday as OPEC reported that the global oil glut has been virtually eliminated, while U.S. crude’s discount to global benchmark Brent widened to more than $7, its deepest in five months. U.S. shale production is expected to hit a record 7.18 million barrels per day (bpd), the Energy Information Administration said. The production growth may be far from over, contributing to U.S. crude’s discount to Brent, analysts said.
Houghton Mifflin Harcourt and Sequential Brands Group announced a new partnership for the release of Martha Stewart’s next three lifestyle books. Each title will be an essential guide to doing things the Martha way, featuring fresh content that captures her impeccable taste and incomparable guidance on everything from entertaining, to healthy living, to organizing, and decorating. “So many of us have admired Martha Stewart for decades. She’s a cultural icon the nation continually turns to for trusted advice,” says Deb Brody, VP Editor-In-Chief, HMH Trade Publishing. “We are overjoyed to launch this partnership between Martha Stewart and Houghton Mifflin Harcourt with her lifetime’s expertise collected for the first time in one indispensable volume. This is the book Martha’s fans have been waiting for.” Click Read More below for additional information.
Packaging Première exhibition has been a great success last year gathering designers, advertising agencies, brand owners and the major players of the sector. This year the number of converters and exhibitors has considerably increased. Kotkamills is confirming its strong presence with its high performance virgin fibre folding boxboards AEGLE® White and AEGLE® Pro. Most of the key customers in cosmetic, body care, pharma and luxury packaging will be also present with their own booths or visiting Kotkamills and Sapii Srl representing the Kotkamills products in Italy. A big success is again expected with Kotkamills’ AEGLE® brand recognized as a main player in these sectors.
Appvion, Inc. announced that the U.S. Bankruptcy Court for the District of Delaware approved the sale of substantially all of the Company's assets to a group of its lenders led by Franklin Advisers, Inc. The sale is expected to be completed by the end of May. The Purchaser submitted the previously announced stalking horse bid on February 8, 2018. Under the terms of the executed asset purchase agreement filed with the Bankruptcy Court, the total consideration is approximately $340 million plus the assumption of substantial liabilities, including many of the Company's contractual obligations. The transaction will substantially reduce Appvion's debt from approximately $585 million to less than $175 million and provide additional liquidity to fund the Company's operations. Kevin Gilligan, Chief Executive Officer of Appvion, said, "We are pleased to receive the Court's approval of the sale of our company to a group of our lenders who have been long-term supporters of Appvion. Their continued investment is a vote of confidence in the future of our business." Click Read More below for additional information.
Smurfit Kappa has achieved a 26% reduction in CO2 emissions three years ahead of time, according to its annual Sustainable Development Report, which was published today. The packaging leader had set an ambitious target to reduce the relative total fossil CO2 emissions in its mill system by 25%. In today’s report, the packaging leader confirmed that it had surpassed the target, which had a 2020 deadline, at the end of 2017. While Smurfit Kappa’s paper-based packaging is renewable and recyclable, the paper production process itself is energy intensive. Reaching the climate change goal further reinforces the company’s ongoing commitment to reduce its carbon footprint by focusing on energy efficiency and the use of renewable sources of fuel such as biomass, where feasible. Click Read More below for additional information.
UPM Raflatac is introducing four new food-safe labeling products to the European market. This will expand the company's food labeling range, providing a wider range of material options for brand owners and packaging designers. All four products meet the European Union's stringent requirements for food safety. Synthermal Clear Plus is a high-clarity direct thermal film that provides excellent product visibility for a no-label look on food packaging. Demonstrating a clear commitment to product safety, the film is Bisphenol A (BPA) and Bisphenol S (BPS) free - taking the European Union legislation that requires thermal paper sold in Europe to be BPA free after 2 January 2020 one step further. Synthermal Clear Plus has excellent convertibility with a great deal of flexibility for process improvements at the printer. Click Read More below for additional information.
Resolute Forest Products Inc. announced a $52.3 million strategic investment plan for its Saint-Félicien pulp mill, located in the Lac-Saint-Jean region of Quebec. The announcement was made at a press conference attended by Quebec Premier Philippe Couillard, and many dignitaries and company employees. "The significant investments at Saint-Félicien are expected to improve several areas of the operation, increasing the average daily production capacity by 76 metric tons and reducing greenhouse gas emissions from the use of fossil fuels by 20%," said Yves Laflamme, president and chief executive officer. Click Read More below for additional information.
Please be advised that Lecta will increase its prices by 5%, for new orders with a delivery date on and after May 14th, 2018. This increase is applicable on web rolls of: Condat Gloss, Silk, Matte, Digital; Garda Gloss and Silk Matte, Digital; Creator Star and Silk Matte, Digital; Mill and private brands Gloss, Silk, Matte, Digital.
Colbert Packaging Corporation recently hosted a TICCIT® (“Trees Into Cartons, Cartons Into Trees”) event for elementary students in Wisconsin’s Salem School District. Jeff MacDougall, production manager at Colbert Packaging, led the educational outreach program, which drew participation from over 320 students in the third, fourth and fifth grades. Salem students learned how trees are grown and harvested for the making of paper and paperboard, and then turned into packaging materials that are recyclable and renewable. Click Read More below for additional information.
Effective with all orders placed on/after June 15, 2018 Technicote Westfield will increase prices by 5% for all Strata pressure sensitive sheeted products. Orders placed prior to June 15, 2018 and scheduled to ship within standard lead times will receive current pricing.
Sappi North America announces a transactional price increase of 4% to 6% on new and unconfirmed orders that book with confirmed delivery dates on or after Monday, May 14, 2018 on the following products: • McCoy Web • Opus Web • Somerset Web • Flo Web • Galerie Web. Standard differentials and upcharges apply. The price increase includes all basis weights and finishes and all private label programs.
Earlier this month, SG360° announced its first outside board of directors member since It was acquired by private equity firm ICV Partners - Patrick R. Donahoe, former Postmaster General of the United States and CEO of the U.S. Postal Service (USPS). “He is really going to help us think differently,” said Schneider. “This is just the first step in a much longer-term strategy to bring a broad array of postal optimization strategies to our customers. We already help clients differentiate themselves in the look, feel, design and impact of their mail pieces. We can now leverage our scale to better drive postal efficiencies.” Click Read More below for additional information.
Sonoco has invested in a state-of-the-art, direct-to-sheet digital printing press for the production of point-of-purchase displays and other promotional packaging. The high-speed, 6-color press enables brand owners to respond quickly to a dynamic retail and shopper environment without the need for costly overruns or printing plates. Sonoco’s digital solution offers several advantages over traditional flexography/lithography, including: •Improved print quality and display strength due to a touch-free printing process •Reduced cost and lead time from the elimination of printing plates •Flexibility and short-run advantages due to the lack of price penalties for smaller quantities •Nearly unlimited customization opportunities from 100 percent digital processes •Durable, fade-resistant printing made possible by high-quality UV inks.
Bauer Media’s Empire magazine is to once again push the boundaries of print publishing by producing an innovative limited edition talking cover. The cover, created in partnership with Twentieth Century Fox to coincide with the launch of Deadpool 2, is the first talking, voice-responsive cover ever produced. A concealed speaker is activated by a button which, when pressed and spoken to, offers one of 14 recorded replies from Deadpool himself. 3,200 issues of this very special issue will be printed and available in Tesco, WHSmith Travel as well as online at www.greatmagazines.co.uk. Click Read More below for additional information.
The oil prices were bullish in the market as geopolitical tensions in the Middle East dies down. The commodity’s prices managed to hit another milestone despite the astonishing performance of the dollar in the market. The commodity continues to push great performance in the market on multiple factors. The great oil inventories reports and the OPEC agreement to extend the output cut have managed to put the prices on its best figures ones again. Click Read More below for additional information.
Papierfabrik August Koehler SE, based in Oberkirch, recently celebrated the official groundbreaking ceremony for a new paper machine. Watched by some 145 invited guests, including the shareholders of Koehler Holding GmbH & Co. KG, the ground was broken by the Koehler Executive Board and representatives of the contracted construction firms Bold GmbH & Co. KG and Rendler Bau , Dr. Michael Trefz (Voith Paper Holding), the architects Alfons Burkart (archigroup GBR) and Thomas Schweiker (Schweiker Architekten), and the Kehl Building Commissioner Harald Krapp. In his welcome address, CEO Kai Furler, who is the eighth generation of his family to lead Koehler, underlined the fact that the Kehl site, with its three paper machines, will be the largest and most modern production site for specialty papers in Europe. This investment is the most significant in the 211-year history of the company. During its global search for a perfect site for the new production facility, the company came to the conclusion that there is no need to search far and wide when the answer is so close to home. Click Read More below for additional information.
For two days every year, the most creative luxury packaging designers managers and designers converge in NYC for Luxe Pack New York. And, for the 13th consecutive year, Neenah Packaging will join these innovators at Pier 92 in Manhattan to show its creative luxury packaging solutions and innovations. (Booth C601.) Inspired by the latest trend colors of the year, Neenah is displaying its growing collection of cosmetics and fragrance packaging and will highlight custom solutions, the results of 1:1 partnerships with corporate clients. Click Read More below for additional information.
From the high use of water and pesticides to produce cotton, to the climate impact of manufacturing synthetic fibres, the fashion industry is one of the most resource intensive industries in the world. In response, the fashion industry is increasingly looking to implement sustainability within its supply chains. This week, we are at the Copenhagen Fashion Summit to promote our solution directly to fashion brands and retailers. The solution? Forests, of course! Forests provide materials and fibres for many of the common consumer products we use today. Yarn from cypress, beech and eucalyptus trees can make fibres for clothing. Cork and wood can be used for not only clothing, but accessories too. Check out the shoes we are taking to the Summit, made from eucalyptus and natural rubber. Click Read More below for additional information.
or the first quarter of 2018, total revenue decreased by $23.4 million, or 92.5%, to $1.9 million from $25.3 million for the same period of the prior year. Gross loss was $0.7 million for the first quarter of 2018, compared to gross profit of $5.7 million for the same period of the prior year. Click Read More below for additional information.
Financial summary for the quarter: EBITDA excluding special items US$211 million (Q2 2017 US$208 million). Profit for the period US$102 million (Q2 2017 US$88 million). EPS excluding special items 17 US cents (Q2 2017 17 US cents). Acquisition of Cham speciality paper business completed. Net debt US$1,632 million (Q2 2017 US$1,329 million). Click Read More below for additional information.
Xerox announced that, at 5:00 p.m. ET on May 13, 2018, it notified Fujifilm that the previously announced transaction agreement to combine Xerox with Fuji Xerox is being terminated in accordance with its terms due to, among other things, the failure by Fujifilm to deliver the audited financials of Fuji Xerox by April 15, 2018 and the material deviations reflected in the audited financials of Fuji Xerox, when delivered, from the unaudited financial statements of Fuji Xerox and its subsidiaries provided to Xerox prior to the date of the Subscription Agreement and taking into account other circumstances limiting the ability of the Company, Fujifilm and Fuji Xerox to consummate a transaction. Thereafter, Xerox entered into a new settlement agreement with Carl Icahn and Darwin Deason. Click Read More below for additional information.
Effective with shipments July 1, 2018 and after, Kruger will increase the transaction price of all coated grades. This includes Krukote Offset; Krukote Hi Bulk; Krukote 76/80; Krukote Recycled; Krukote Satin/76/80. The increase will apply to all basis weights and finishes.
National Average Price for Regular – Current: $2.858; Month Ago: $2.660; Year Ago: $2.338. National Average Price for Diesel – Current: $3.106; Month Ago: $2.974; Year Ago: $2.506.
American Dollar to Canadian Dollar = 0.785249; American Dollar to Chinese Yuan = 0.157918; American Dollar to Euro = 1.193254; American Dollar to Japanese Yen = 0.009150; American Dollar to Mexican Peso = 0.052048.
The expectation that sanctions will again frustrate Iran’s oil industry and limit global supply has helped to boost prices close to 5% since the announcement. In the past, sanctions against Iran have cut the country’s crude exports by around 1 million barrels a day. But because the European Union and other intentional players have decided to stick with the deal, U.S. sanctions are likely to affect only up to around 350,000 barrels a day, once reinstated within six months’ time, according to analysts at MUFG Bank. The surge in prices this week prompted renewed oil market speculation that Brent could again reach $100 a barrel — a level not seen since before the price crash of late 2014. Click Read More below for additional information.
Costco Wholesale Corporation reported net sales of $10.81 billion for the retail month of April, the four weeks ended May 6, 2018, an increase of 13.1 percent from $9.56 billion last year. For the thirty-five weeks of fiscal year 2018 ended May 6, 2018, the Company reported net sales of $92.24 billion, an increase of 12.2 percent from $82.24 billion last year. This year’s four-week April retail month had one additional shopping day versus last year, due to the calendar shift of Easter. This positively impacted total and comparable April sales by an estimated one and one half to two percent.
Unable to find a buyer for 72-year-old Vermont Life, the state’s Agency of Commerce and Community Development announced Thursday that it will cease printing the quarterly magazine after its summer issue. Vermont Life‘s status as a state-funded publication had made its future a subject of debate over the past year, with state lawmakers estimating that it ran an annual deficit of around $400,000. The state sought proposals for a sale last September, but officials said they elected to maintain ownership after finding none of the offers to be satisfactory. Click Read More below for additional information.
Between May 14 and 24, Klabin’s Monte Alegre Unit in Telêmaco Borba will perform its annual Maintenance Shutdown. More than 4,000 services will be executed over 11 days on the equipment at the unit to ensure the safety and continuity of the operation. The Maintenance Shutdown is compulsory for companies that have machinery such as boilers and digesters. Completing the tasks on schedule requires a large number of workers, many of whom work exclusively in pulp and paper mill shutdowns. Click Read More below for additional information.
The Company reported fiscal 2018 third quarter total revenues of $2.10 billion, a 6% increase compared to $1.98 billion in the prior year period, reflecting strong growth in the Digital Real Estate Services and Book Publishing segments and a $70 million positive impact from foreign currency fluctuations. The growth was partially offset by lower print advertising and News America Marketing revenues at the News and Information Services segment. Adjusted Revenues (which exclude the foreign currency impact and acquisitions and divestitures as defined in Note 1) increased 2%. Net loss for the quarter was ($1.1) billion as compared to nil in the prior year. The loss was primarily driven by non-cash write-downs of $998 million related to Foxtel and FOX SPORTS Australia, as well as a non-cash impairment charge of $165 million at News America Marketing. Click Read More below for additional information.
The first product was the engaging AlphaBooks display produced for the IF gifts company. Smurfit Kappa designers created a bespoke POS display which gave a 360o degree view of the quirky, letter-shaped notebooks. The second winning product was a sophisticated packaging system for different left and right Audi automotive latches. Thanks to cleverly placed cut-outs, 12 latches fit in easily without any damage during either insertion or transport, and the time spent on assembly and filling was reduced by 87%. Click Read More below for additional information.
Sonoco has announced its position as a joint development partner and investor in the Plant City, Fla.-based robotics company Harvest CROO Robotics. “This partnership solidly aligns with our focus on improving the supply chain for fresh produce by connecting harvesting technology with new packaging technology,” said Sonoco CEO Rob Tiede. “Efforts to improve harvesting efficiency, decrease food waste and extend freshness life are key focus areas for us as we expand into fresh food packaging.” Click Read More below for additional information.
Due to a potential shortage of photoinitiators as reported earlier this week by the European Printing Ink Association (EuPIA), Sun Chemical customers that receive energy curable inks could experience product delivery delays in the future. Governmental initiatives and regulations geared toward environmental protection have led to many suppliers of photoinitiators to either cease or reduce production for limited periods of time. Additionally, the declaration of a force majeure at a variety of manufacturing plants has led to unplanned maintenance and production outages. Click Read More below for additional information.
Currently, there is a specific global raw material shortage affecting UV curing inks. This impacts supply of a UV photoinitiator commonly known as “TPO.” While supply of TPO comes from several different manufacturers, a key chemical feedstock used in the manufacture of TPO (and other similar photoinitiators) comes from one main upstream source in China. The manufacturing of this feedstock has been temporarily halted while inspections are undertaken due to an unrelated incident in the same industrial zone. This incident comes within the wider context of similar unplanned shut downs of UV raw material capacity in China and a tighter regulatory environment in Europe limiting alternative options. This supply disruption means that the feedstock cannot be produced at present and supplies are now at critically low levels globally, which has impacted the availability and production of TPO itself. We anticipate the situation will be resolved in a matter of weeks but are taking actions to cover our supply in the meantime. Please note that this is an industry-wide shortage affecting all UV ink manufacturers. Click Read More below for additional information.
The U.S. Postal Service reported total revenue of $17.5 billion for the second quarter of 2018 (January 1, 2018 - March 31, 2018), an increase of $235 million, or 1.4 percent, compared to the same quarter last year. Shipping and Packages revenue grew by $445 million, or 9.5 percent, while First-Class and Marketing Mail revenue fell by a combined $181 million. The Postal Service's results for the quarter continued to reflect multi-year trends of growth in Shipping and Packages volume and declining letter volumes, as package volume grew by 69 million pieces, or 5.0 percent, while mail volumes declined by 700 million pieces, or 2.1 percent, compared to the same quarter last year. Net loss for the second quarter totaled $1.3 billion, compared to a net loss of $562 million for the same period last year. Click Read More below for additional information.
Containerboard capacity continued to increase, rising 1.9 percent in 2017 to a record 38.9 million tons. Containerboard accounted for 46.2 percent of U.S. paper and paperboard capacity in 2017. Tissue paper capacity is on a long-term expansionary trajectory, approximately in line with U.S. population growth, and rose 0.2 percent in 2017. Four tissue paper machines started production in 2017. Those capacity additions were partly offset by two mill closures that same year. Reflecting displacement from digital media, capacity for newsprint and printing-writing papers continued to decline in 2017. Three mills and six machines producing these grades were permanently closed that year. Click Read More below for additional information.
The premier of British Columbia, John Horgan, has asked Canadian Prime Minister Justin Trudeau to provide the promised assistance to Catalyst Paper and other Canadian paper mills, reports Terrace Standard. “The massive tariffs imposed by U.S. authorities at the behest of a single Washington state company put the jobs of 1,600 British Columbians working at three Catalyst pulp mills at risk,” Horgan wrote in a letter to Trudeau. “While I appreciate the magnitude of other U.S. actions may seem signifiant – steel, aluminum and softwood lumber stand out – the future of three coastal communities is at stake in this matter.” Click Read More below for additional information.
Paper machine 11 at Catalyst Paper Corporation’s Powell River mill went into start-up mode on May 7 after a three-week production curtailment of uncoated groundwood paper. The curtailment started on April 16 in response to a shortage of fibre and United States Department of Commerce tariffs on uncoated groundwood paper.
These two major industry issues should have everyone’s attention: 1.A potentially significant change (not for the better) in how future postal rates are to be set; 2.The ramifications of a forthcoming Supreme Court ruling on the future of remote/internet sales taxes that could overturn over 50 years of precedent businesses nationwide have relied upon. Our industry must mobilize to take action to respond to these industry-wide threats! The time to do so is right now. Inattention will be costly. Without a concerted, coordinated response, the outcome for both will be dire. Click Read More below for additional information.
L Brands, Inc. reported net sales increased 4 percent to $751.6 million for the four weeks ended May 5, 2018, compared to net sales of $719.6 million for the four weeks ended April 29, 2017. Comparable sales for the four weeks ended May 5, 2018, were flat compared to the four weeks ended May 6, 2017, and were negatively impacted by the earlier Easter holiday this year by about 3 percentage points. The company reported net sales of $2.626 billion for the first quarter ended May 5, 2018, an increase of 8 percent compared to sales of $2.437 billion for the quarter ended April 29, 2017. Comparable sales for the first quarter ended May 5, 2018, increased 3 percent compared to the thirteen weeks ended May 6, 2017.
Gannett Co., Inc. announced that it entered into an agreement to acquire WordStream, Inc., a provider of cloud-based software-as-a-service (SaaS) solutions for local and regional businesses and agencies to optimize their digital marketing services campaigns. The purchase price is $130 million in cash, net of cash acquired, plus up to an aggregate $20 million earnout payable in 2019 and 2020 based on achieving certain revenue targets. The transaction builds upon Gannett’s existing data-driven digital marketing services, ReachLocal and SweetIQ. “This acquisition marks another critical milestone in Gannett’s digital transformation, enhancing our ability to support businesses and agencies in our local markets with the intelligent, data-driven marketing solutions they need to drive growth,” said Robert Dickey, president and chief executive officer of Gannett. “WordStream’s technology, extensive data and analytics capabilities together with an experienced executive team will bring tremendous value to Gannett’s expanding digital marketing services business.” Click Read More below for additional information.
Looking more closely at Meredith's fiscal 2018 third-quarter results compared to the prior-year quarter: •Meredith recorded pre-tax special items of $170 million, primarily comprised of restructuring, financing and transaction costs related to its acquisition of Time Inc. As a result, Meredith reported a loss from continuing operations of $95 million and a net loss of $110 million, compared to net earnings of $40 million. •Excluding special items, earnings from continuing operations were $33 million, compared to $40 million. (See Tables 1-5 for supplemental disclosures regarding non-GAAP financial measures.) •Adjusted EBITDA was $111 million, compared to $83 million. •Total company revenues from continuing operations were $649 million, compared to $425 million. Click Read More below for additional information.
Consolidated net sales increased 10 percent to a record $266.5 million in the first quarter of 2018 compared with $242.1 million in the first quarter of 2017. Revenue gains resulted from higher volumes, both organic and with the November 2017 Coldenhove acquisition, a higher-priced sales mix, increased selling prices and favorable currency effects. Operating income of $24.1 million in 2018 decreased 11 percent from $27.0 million in 2017. Income benefited from volume growth, a higher value mix, increased selling prices and currency, but was more than offset by higher input and distribution costs. Click Read More below for additional information.
Q1 2018 Highlights • Sales of $1,098 million (compared to $1,082 million in Q4 2017 (+1%) and $1,006 million in Q1 2017 (+9%)) • As reported (including specific items) • Operating income of $112 million (compared to $45 million in Q4 2017 (+149%) and $31 million in Q1 2017 (+261%)) • Adjusted (excluding specific items) 2 • Operating income of $50 million (compared to $46 million in Q4 2017 (+9%) and $28 million in Q1 2017 (+79%)). Click Read More below for additional information.
Domtar’s safety culture is founded on the idea of human performance improvement (HPI), which acknowledges that people are inherently fallible and they will make mistakes. However, HPI isn’t about fixing the worker; rather, it holds the entire organization accountable by understanding the context surrounding events and why individuals exhibited behaviors that lead to safety incidents. Both individual actions and organizational weaknesses can result in unwanted outcomes. Therefore, HPI-based initiatives are proactive in nature. They focus on risk reduction and continuous improvement by implementing solutions to prevent errors that could lead to a negative outcome. Click Read More below for additional information.
Expera Coated Products announced a new brand of liners used in the manufacture of Performance Tapes and Sealants. DualBak™ liners have the necessary performance characteristics to withstand demanding converting and end use applications, yet maintain the strength and stability to ensure specified customer requirements are met. “Expera Coated Products’ DualBak™ liners are highly-engineered solutions that offer a wide breadth of silicone systems and release differentials as well as targeted base papers to fit the many demands of this segment,” explained Harry Challender, Vice President of Expera Coated Products. “We excel at customer collaboration, and that collaboration allows Expera Coated Products to develop application-specific liners that contain the functional properties critical to the success and delivery of our customers’ products.” Click Read More below for additional information.
First Quarter 2018 Highlights (as compared to first quarter 2017): • Revenue increased 14.5% to $237.2 million primarily due to additional revenue from the Cantech Acquisition(1) and an increase in average selling price, including the impact of product mix. • Net earnings attributable to the Company shareholders ("IPG Net Earnings") decreased $2.1 million to $11.4 million, primarily due to the increase in SG&A and other finance costs, partially offset by a decrease in income tax expense and an increase in gross profit. • Adjusted EBITDA(3) decreased 0.6% to $30.2 million primarily due to an increase in SG&A and the non-recurrence of Insurance Proceeds of $2.1 million realized in the first quarter of 2017, partially offset by adjusted EBITDA contributed by Cantech and an increase in gross profit. Excluding the Insurance Proceeds, adjusted EBITDA for the first quarter of 2018 increased by almost 7% compared to the first quarter of 2017. Click Read More below for additional information.
Revenue in Q1 2018 was $323.7 million, compared to $289.3 million in Q1 2017, an increase of $34.4 million or 11.9%. The increase in revenue was due to the combination of: an additional 6 days of sales in Q1 2018 compared to Q1 2017; the favourable impact of increased sales volume; and a Consumer selling price increase in Canada in Q4 2017; partially offset by the unfavourable impact of foreign exchange fluctuations on U.S. dollar sales. Net income in Q1 2018 was $1.6 million, compared to $6.9 million in Q1 2017, primarily due to lower Adjusted EBITDA of $6.8 million, higher depreciation expense of $1.1 million, an increase in interest expense of $1.0 million, a decrease in foreign exchange gain of $0.4 million and the loss on sale of fixed assets of $0.4 million. These items were partially offset by a decrease in tax expense of $3.8 million and the change in fair value of derivatives of $0.6 million. Click Read More below for additional information.
On Wednesday, Senator Ed Markey (D-Massachusetts), Senate Majority Leader Chuck Schumer (D-New York) and others filed a motion to reinstate the rules. The effort, spearheaded by Markey, has garnered support from all 49 Senate Democrats as well as Republican Senator Susan Collins of Maine. If Senator John McCain (R-Arizona) -- currently on a medical leave of absence -- doesn't vote, the measure is poised to pass the Senate by one vote. But passage is considered unlikely, given that only 160 House members have so far said they support the bill -- leaving it far short of the 218 votes needed to pass. The latest effort to enshrine net neutrality protections comes five months after the Federal Communications Commission voted to repeal Obama-era regulations that classified broadband as a utility service and imposed some common carrier rules on providers. Among other restrictions, the regulations prohibited broadband carriers from blocking or throttling online traffic and from charging companies higher fees for prioritized delivery. Click Read More below for additional information.
Mondi’s renewable packaging material helps Paulig Coffee lower carbon footprint. Climate change is harming our planet’s fragile ecosystems, driving the movement for drastic cuts to carbon emissions at a global scale. All industries have a part to play in this transition towards a low-carbon economy, including manufacturers of consumer goods. The snacks, seasoning and coffee producer Paulig Group, together with Mondi, is responding to this challenge. Paulig Coffee brand is the market leader in Finland and the Baltics, and is the second largest provider of coffee in Russia. The company strategically works to reduce its environmental footprint. In Finland for example, all its coffee roasteries run entirely on renewable energy. Paulig has made a commitment to reduce its carbon emissions by 40% by 2020. To meet the target the entire supply chain is involved, including packaging. Click Read More below for additional information.
Sappi increases prices for its LWC and MWC grades prices by 6-8% from July 1st 2018 for all markets due to continued cost increases and strong demand. This follows previous announcements made for its woodfree coated and woodfree uncoated grades.
Publishers’ revenue for trade (consumer) books increased by $96 million (+1.3%) to $7.6 billion in 2017. The growth in trade books is attributed to a +3.0% revenue uptick in the Adult Books category, which comprises more than 65% of all revenue for trade books. Revenue for Childrens/YA books and Religious Presses declined in 2017. Overall publisher revenue for 2017 was flat at $14.7 billion, up $57.5 million (+0.4%) from 2016. These numbers include sales for all tracked categories (Trade - fiction/non-fiction/religious, PreK-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses). Several categories that had declined in 2016 rebounded in 2017, including Adult Books, University Presses, and Professional Books. Click Read More below for additional information.
First Quarter 2018 Highlights: - Strong top and bottom line performance reflects benefits of vertical integration and continued favorable market conditions across TiO2 pigment, feedstock and co-products - Revenue of $442 million up 17 percent versus prior year - Income from operations of $14 million; adjusted EBITDA of $113 million up 79 percent versus prior year (Non-GAAP) - TiO2 income from operations of $52 million; adjusted EBITDA of $138 million up 62 percent versus prior year (Non-GAAP) - TiO2 adjusted EBITDA margin of 31 percent; free cash flow of $52 million. Click Read More below for additional information.
The U.S. Postal Service recognized Shutterfly Inc. with its Partnership for Growth Award on the final day of the National Postal Forum (NPF), the country’s premier mailing and shipping conference. The Partnership for Growth Award is given annually at NPF to recognize a strong mailing industry contributor that drives innovation and growth using USPS. Shutterfly was selected to receive this year’s Award by Postmaster General and CEO Megan J. Brennan and the USPS Executive Leadership Team. Shutterfly is being recognized for continuously working with the Postal Service to ensure the company reaches its customers using new and innovative technologies that increase the value of the mail. Click Read More below for additional information.
R.R. Donnelley & Sons Company followed up on the recent creation of their Marketing Solutions group by adding Maureen Powers to the team as the new President of RRD’s Response Marketing Solutions (RMS) team starting on May 21st. Powers comes from Discover Financial Services where she served in a variety of senior leadership positions, most recently as head of their Rewards program. Powers holds a Bachelor’s degree from Northern Illinois University and an MBA from Northwestern University’s Kellogg Scholl of Management. She will be based in RRD’s headquarters in Chicago, IL and reports to Doug Ryan. Powers will succeed Dan Thornton, who announced his retirement after 22 years of successful leadership on the RRD team. Click Read More below for additional information.
Verso Corporation reported financial results for the first quarter of 2018, including net sales of $639 million, net loss of $2 million, and Adjusted EBITDA of $41 million. "Verso had a good start in the first quarter of 2018, with sales revenue up 4 percent to $639 million, Adjusted EBITDA (a non-GAAP measure) up 58 percent to $41 million, and Adjusted EBITDA margin up 2.2 percentage points compared to the first quarter of 2017," said Verso Chief Executive Officer, B. Christopher DiSantis. "We continued to grow our specialty papers business, now 24 percent of total revenue, and are seeing the benefits of our SG&A cost improvement initiatives, with an improvement of $8 million versus the first quarter of 2017. Looking ahead, we have positioned Verso well to benefit from improved operating rates and are building a better business." Click Read More below for additional information.
Total reported sales for the first quarter of 2018 were $2.8 billion compared to $2.7 billion in the first quarter of 2017, an increase of 6%. As a result of the CompuCom acquisition and focus on growing services revenue, the Company has enhanced its disclosure to report the breakdown between product sales and service revenues. Office Depot's service revenues now make up approximately 14% of the Company's total sales. In the first quarter of 2018, Office Depot reported operating income of $77 million and net income from continuing operations was $33 million, or $0.06 per share, compared to operating income of $124 million, net income from continuing operations of $74 million and $0.14 per share in the first quarter of 2017. Click Read More below for additional information.
Short term, oil-pricing volatility will continue. Traders will likely consider any forward interruption – perceived or actual – in Iranian crude export flow as upward pressure on global prices. If this happens and JCPOA is not immediately closed, (i.e., should those second and third possible scenarios I mentioned play out), there will be a pullback. Overall, other factors have been contributing to an increasing floor for the oil-pricing band, supported by continuing OPEC production problems in Venezuela, Nigeria, and Libya. Click Read More below for additional information.
Deluxe Corporation announced that it recently acquired 100 percent of privately held LogoMix, a Boston-based provider of logo design and other small business branding and marketing services. Founded in 2006, LogoMix enables businesses and individuals to create and purchase custom marketing products for use online and offline. On LogoMaker.com, users can create a custom logo in minutes and, in one click, print their logo on business cards, signs, pens and other offline marketing products. LogoMix’s other marketing services include websites, business email, domains and Google Apps for Work. Click Read More below for additional information.
Mohawk Fine Papers, Inc. introduced the fourteenth issue of its celebrated Mohawk Maker Quarterly at the HOW Design Live Conference in Boston, MA. Each issue of the Mohawk Maker Quarterly relies on a theme for its creative framework. Issue No. 14 of the Mohawk Maker Quarterly is titled Lead & Serve and celebrates those who pave the way by helping others find their paths. Consistent with the ongoing strategy behind the publication, this issue seeks to provide thought-provoking inspiration for graphic designers around the world through engaging content and carefully-considered design on paper. Issue No. 14 is the largest body of content to date, with 224 pages of words and images presented in the oh-so familiar form of a book. The 6.5 x 8.5” format is organized in four chapters, including Mohawk’s regular feature, The Movement; highlighting makers and their projects from around the world. The team at Hybrid Design in San Francisco, CA has struck a perfect balance between visual and word essays, all carefully curated to support this issue’s theme, Lead & Serve. Click Read More below for additional information.
Highlights for the first quarter: • As part of our transformation plan, on April 10, 2018, we launched a major national expansion with a reinvention of our Metro urban commuter newspapers and more robust digital offerings on thestar.com in Vancouver, Calgary, Edmonton, Toronto, Halifax and nationally. This expansion leverages the Star brand and its history and unique position of local and investigative reporting. • Ended the first quarter of 2018 with $51.5 million of cash and cash equivalents and $7.7 million of restricted cash; Torstar has no bank indebtedness. • Our net loss from continuing operations in the first quarter of 2018 was $20.9 million ($0.26 per share) compared to a net loss of $24.4 million ($0.30 per share) in the first quarter of 2017. Click Read More below for additional information.
In her keynote address opening the 50th Anniversary of National Postal Forum (NPF), Postmaster General and CEO Megan Brennan highlighted the Postal Service’s focus on meeting customer’s needs today, while anticipating their needs of tomorrow by continuing to invest in the future to create opportunities for growth and profitability for the entire industry. Brennan announced to thousands of customers at the Forum that nearly 10 million users are now enrolled in Informed Delivery, the Postal Service’s innovative daily mobile offering which allows users to see their incoming mail to be received later that day. “Informed Delivery broadens the definition of the mail moment by bridging the digital and physical – it allows consumers to connect to their physical mail anytime, anywhere,” said Brennan. “Informed Delivery is becoming part of the daily digital life of the American consumer. It builds anticipation of the physical mail piece, and allows marketers to increase their digital engagement with the consumer from a single mail piece.” Click Read More below for additional information.
The company that invented the copier, laser printing and print-on-demand is announcing another first in the world of print – a high speed, six station color press that combines four-color printing with up to two specialty dry inks in one printing pass. The Xerox Iridesse™ Production Press is the only digital press that can print metallic gold or silver dry ink, CMYK and clear dry ink in a single pass, giving print providers an immediate competitive edge in the growing digital print enhancement market. “Iridesse can do things no other digital production press can do, but it’s what it can do for our customers that’s most important,” said Ragni Mehta, vice president and general manager, Cut Sheet Business, Xerox. “We created the press to produce these special effects and digital enhancements cost effectively and in a simplified workflow so our customers can seize the market opportunity and grow their businesses.” Click Read More below for additional information.
A “perfect storm” of global events has resulted in long lead times for some paper grades – with mills resorting to allocation for the first time in over a decade – and printers and paper buyers have been warned to plan ahead for the rest of the year. The combination of factors affecting the supply of graphical papers includes increasing demand for pulp for other markets, such as tissue and hygiene products, which has pushed prices up to almost $1,200 (£883) a tonne. A year ago it was $700-$750. As well as pulp prices, other rising input costs for papermakers include chemicals and fillers. In recent years paper manufacturers have shut down paper machines in the face of declining demand, or converted lines to make other higher-value products, such as cartonboard. Click Read More below for additional information.
Dublin, Ireland-based Smurfit Kappa Group is partnering with Silicon Valley printing technology company Electronics For Imaging, Inc. to establish an efficient, robust digital corrugated packaging production offering with the installation of an EFI™ Nozomi C18000 single-pass LED inkjet corrugated packaging press. As a result of this partnership, Smurfit Kappa, one of the top innovators in packaging, and main driving force of digital print technology in Europe, will establish leaner and more-effective processes to deliver ready-to-sell high quality print packaging that will provide its customers maximum brand benefit in the retail store. “This digital printing partnership with EFI reflects Smurfit Kappa’s serious commitment to providing the best packaging solutions available,” said Ignacio Sevillano, CEO Smurfit Kappa Spain, Portugal and Morocco. Click Read More below for additional information.
The company’s PolyInert laminates, which enable sensitive pharmaceuticals to be packaged in stick-pack form, won the Resource Efficiency category, and AluFix Retort Xtra, the newest addition to the successful AluFix range, won the Technical Innovation award. PolyInert Laminates - This material helps keep pharmaceutical patients safe because its stable and inert high barrier doesn’t interact with or absorb active pharmaceutical ingredients and keeps medication effective longer. AluFix Retort Extra - The aluminium foil membrane makes more convenient peelable lidding practical on metal cans for a wider range of food products. For the first time, that includes on cans containing foods with low pH values of 2-4, or those containing salts, spices and oils that can corrode or damage packaging materials. Click Read More below for additional information.
Arandell Corp. announced that James Ford has joined the New Business Development Sales Team. In this position, Ford will be responsible for new client acquisition and client consultation in areas of marketing strategy, quality and color improvements, paper, print production and postal optimization. Ford will report to Stephen Sanfelippo, Arandell’s Senior Vice President of Sales and Marketing. “Jim is a highly reputable sales leader in the print industry with experience in effectively managing customer needs across multiple print facilities,” said Sanfelippo. “He will be instrumental in helping us introduce accounts to the expanded capabilities enabled by our new Kentucky facility and strategic partnerships. I am confident that his passion and abilities will help move Arandell to the next level of success.” Click Read More below for additional information.
Even in the era of “there’s an app for that,” our largely tech-first culture is reclaiming timeless analog elements. Today the Paper & Packaging – How Life Unfolds® campaign unveils a new limited-edition print publication, Pod Papers Magazine, bringing podcasts to life in a way that has never been done before – in print. Complimentary copies of Pod Papers will be available exclusively in store at Barnes & Noble locations nationwide while supplies last. “Our culture, though increasingly digital, is in the midst of a moment of reflection. For many, turning digital into analog is helping fuel inspiration and creativity,” observes Mary Anne Hansan, president of the Paper and Packaging Board. “Pod Papers is our answer to this cultural moment – it’s meant to be pored over and become a keepsake.” Click Read More below for additional information.
US crude oil prices have slipped back after strong gains as the White House prepared to announce a decision on whether it will withdraw from the Iran nuclear deal. Iran’s oil production has bounced back to nearly 4m barrels a day since world powers eased sanctions over its nuclear programme. Reimposing sanctions could reduce Iranian oil exports by 200,000-300,000 barrels a day, according to RBC Capital Markets. Click Read More below for additional information.
In addition to significantly boosting the mill’s production capacity, the upgrades will further enhance our first quartile performance in safety and quality. With this major investment, the Camden plant will continue to be a stable and significant employer in this region, paying good wages and benefits to our valuable employees. The upgrades, which will begin later this year, will include an upgraded new planer mill, a new continuous dry kiln to increase drying capacity, as well as new Sawmill equipment that will help increase the mill’s production capacity. Work is expected to be complete in the fourth quarter of 2019. Click Read More below for additional information.
What are the most common causes of global deforestation? The answers might surprise you. The Food and Agriculture Organization of the United Nations (FAO) defines deforestation as the conversion of forests to another land use or a permanent loss of forest cover. Deforestation is not a major issue in North America. In fact, in the United States, net total forest area has actually increased in the past 60 years, while in Canada, forest cover remains stable. However, this is not the case in other regions of the world, where the rapid loss of tree cover has reached alarming rates. Despite the fact that the pulp and paper industry is not a major contributor to deforestation in many regions, myths continue to persist about the role our industry plays in this growing problem worldwide. That said, consumers who purchase pulp and paper products without considering the source drive demand in regions where less sustainable practices are common. Click Read More below for additional information.
InnerWorkings, Inc. announced that it is postponing the release of its first quarter 2018 financial results and conference call due to errors in its historical financial statements identified during the course of its first quarter financial reporting close process. The Company will be restating its financial statements for the years ended December 31, 2017, 2016, and 2015, and all interim periods within those years. The accounting errors relate primarily to recording a portion of costs of goods sold in the wrong period, and have no material impact on InnerWorkings’ cash flow, revenue, or liquidity. The restated financial statements will also correct other errors identified during prior periods, which were immaterial individually and in the aggregate. Click Read More below for additional information.
Brands today must align all aspects of their packaging development and production to satisfy the needs and preferences of a new generation of consumers. Skilful optimisation of point-of-sale packaging has never been more important for food and beverage brand owners. A key component is ensuring that primary and secondary packaging designs, materials and missions are fully aligned in order to attract consumers and satisfy their needs. Consumer brands today face many challenges – from an explosion in the number of competitors and the resulting struggle to get noticed on the retail shelf, to rising demand for sustainability and changing consumer demographics. Click Read More below for additional information.
Palmer Printing has been the last printer on Printer’s Row since 2007, when Rider Dickerson moved to a different location. But it too has recently made the decision to relocate - a move that President Ed Rossini and his father and former owner Ciro Rossini felt was the next logical step for the company. In December 2017, Ciro Rossini, who owns the building where Palmer Printing is housed, decided to sell it to Chicago residential developer CMK. According to Ed Rossini, the company is in the process of looking for a new location with plans to move this year. In the past 10 years, Ed Rossini says that the Printer’s Row area has evolved into a vibrant, energetic neighborhood with the addition of universities, restaurants, bars and shops. Click Read More below for additional information.
• First quarter 2018 net income of $24 million and EBITDA of $86 million • Diluted earnings per share of $0.38; 153 percent increase from prior year • Pulp contributed significant EBITDA; Forest Products delivered solid profitability despite duties on U.S. sales; High Purity Cellulose impacted by production issues in two facilities and a spike in energy costs • Integration of Tembec progressing as planned with significant contributions to first quarter profitability • $7 million of transformation and synergy savings achieved; on track to meet 2018 target of $40 million. Click Read More below for additional information.
The Navigator Company announced today that it will be increasing prices our Uncoated Woodfree Papers by 7 to 8 % in Europe, in all products and markets. This increase will be effective from 1st July dispatches and this decision was taken following the continuous increase in our key production costs.