Detroit-based Hour Media Group continued its nearly two-year-long regional magazine shopping spree this week, snatching up 38-year-old Gemini Publications, also based in Michigan, from longtime owner and publisher John Zwarensteyn. Included in the sale are the monthly Grand Rapids magazine, the weekly Grand Rapids Business Journal, and Michigan Blue, a lifestyle title which publishes six times per year. Click Read More below for additional information.
Forest Products Association of Canada (FPAC) released a comprehensive report that highlights efforts in support of caribou recovery across the country – along with a series of recommendations to the federal government that will help inform solutions to further preserve and enhance habitat for caribou and other species that inhabit Canada’s forests. The report includes a compendium of projects and initiatives taking place across the country as part of the Canadian forest products sector’s active efforts to support caribou recovery. The report highlights multiple factors impacting caribou populations, and the unique position Canada’s forestry professionals are in to support caribou recovery with science, research, and by advancing on the ground partnerships. Click Read More below for additional information.
InnerWorkings, Inc. announced that the company has received significant new work from two of its long-term clients. These new wins will add approximately $20 million of annualized revenue for the company at full run rate, bringing the total awarded to $105 million through the first eight months of 2018. One of the new expansions comes from one of the world’s largest producers in the beer, wine, and spirits vertical, a client that InnerWorkings has been supporting for more than 10 years. The legacy solutions primarily involve luxury packaging in Europe and point-of-sale materials throughout Latin America. The new contract announced today is for their largest market, the United States, as well as Canada, and covers a broad range of marketing materials, including point of sale, value-added packaging, and promotional items. The other expansion announced today is with one of the world’s leading manufacturers of consumer goods, specializing in cleaning products. InnerWorkings has been supporting this client since 2014, managing promotional items and printed marketing collateral in the United States and Canada. The new contract expands the relationship to include permanent retail displays. Click Read More below for additional information.
Highlights •Revenues increased by $280.2 million, or 58.7%, from $477.7 million to $757.9 million, mainly as a result of the transformational acquisition of Coveris Americas completed on May 1, 2018. This increase was slightly mitigated by the sale of our local and regional newspaper media assets in Québec and the sale of the printing activities of our Fremont, California, plant. •Operating earnings decreased by $28.6 million, or 41.9%, from $68.2 million to $39.6 million. Adjusted operating earnings, which exclude restructuring and other costs (gains), impairment of assets, amortization of intangible assets and the reversal of the fair value adjustment of inventory sold arising from business combinations, increased by $10.5 million, or 14.2%, from $74.2 million to $84.7 million. Click Read More below for additional information.
Quantum today announced it has brought on two senior leaders – Michele Brennan as vice president, national accounts and business development and Alan Darling as vice president of information systems. The new positions are part of the company’s continued growth strategy and commitment to providing innovative service and solutions to customers. “I am thrilled to welcome both Michele and Alan to Quantum,” said Cheryl Kahanec, chief executive officer for Quantum. “I have worked with both of them throughout the years and believe the extensive expertise they both bring to the table will be a tremendous benefit to our customers and continue to help Quantum push communicators beyond the boundaries of conventional print.” Click Read More below for additional information.
Effective with all new and existing orders with confirmed delivery dates of October 5, 2018 or later, Verso Corporation is increasing the transaction price of all Coated Freesheet Sheets and Sheeter Roll grades, including but not limited to: Anthem Plus® sheets/sheeter rolls 4 to 5% & Blazer Digital® sheets/sheeter rolls 4 to 5%. The increase applies to all basis weights, bulks, finishes and related private label grades. Should you have any questions, please contact your Verso professional sales representative. Thank you for your continued support.
L Brands, Inc. reported net sales of $856.3 million for the four weeks ended Sept. 1, 2018, compared to net sales of $842.1 million for the four weeks ended Aug. 26, 2017. Comparable sales increased 1 percent for the four weeks ended Sept. 1, 2018, compared to the four weeks ended Sept. 2, 2017. The company reported net sales of $6.466 billion for the 30 weeks ended Sept. 1, 2018, compared to net sales of $6.034 billion for the 30 weeks ended Aug. 26, 2017. Comparable sales increased 2 percent for the 30 weeks ended Sept. 1, 2018, compared to the 30 weeks ended Sept. 2, 2017.
Lecta announces a price increase of 5% to 6% on all its CWF 1 side grades in sheets and reels. The continuous increase in manufacturing costs makes the price increase unavoidable. The new prices will be effective on deliveries from October 1st, 2018.
In its sixth year, the Salvation Army of Douglas County has helped more than 6,000 children by providing essential school supplies. The Back 2 School Supply Drive runs each summer before the school year begins, and collects supplies or monetary donations from local businesses, organizations and individuals. School supplies donated in 2018 include: •Backpacks •Shoes •Pencils •Pens •Notebooks •Art supplies •And much more! Once all the items are collected and separated, local volunteers pack the backpacks over the course of two weeks. This year, the Back 2 School Supply Drive prepared almost 1,000 backpacks for Lawrence kids, of which Allen Press proudly packed over 120 backpacks. Click Read More below for additional information.
BillerudKorsnäs has opened one of Europe's largest and most efficient MG paper machines at Skärblacka production unit outside Norrköping in Sweden. The opening ceremony was held by BillerudKorsnäs President and CEO Petra Einarsson, retiring Governor of Östergötland County Elisabeth Nilsson, acceding Governor of Östergötland County Carl Fredrik Graf and Factory Manager of Skärblacka Production Plant Håkan Krantz. More than 500 people attended the ceremony at the Trozelli Gallery in Norrköping. The applications for machine glazed kraft paper range from consumer goods to industrial products such as fat-resistant paper for consumer bags and fast food markets, barrier paper for dairy products such as butter packaging and paper for sealing medical disposable items. Click Read More below for additional information.