Jaakko Nikkilä has been appointed Executive Vice President responsible for UPM Specialty Papers business area as of 1 July 2019. He will be based in Helsinki reporting to Jussi Pesonen, President and CEO. Jaakko Nikkilä is currently Senior Vice President for UPM Specialty Papers European and North American business unit. He has been in his current role since 2018. Before that he was responsible for UPM Specialty Papers sales in APAC region, based in Shanghai for five years. He joined UPM in 1995. Jaakko holds a Master's degree in Engineering and Industrial management from Helsinki University of Technology and eMBA from Aalto University. He is 52 years old and a Finnish citizen. Click Read More below for additional information.
UPM Raflatac, a global leader in the manufacture of pressure sensitive label materials, is proud to announce that its factory in Mills River is the first manufacturing facility in North Carolina whose electrical supply is generated entirely by renewable sources through Charlotte-based Duke Energy's NC Renewable Energy Program. This year, the Mills River factory opted to increase its renewable electricity use from 4 percent to 100 percent. Renewable electricity is generated from sources like wind, solar and hydropower. UPM Raflatac has a 2030 target to reduce fossil CO2 emissions from its operations and purchased electricity by 30 percent. The switch to 100 percent renewable electricity for the Mills River facility is a major step toward meeting that target. Click Read More below for additional information.
As part of its continued focus on driving digital printing growth, HP Inc. announced an agreement to acquire OneFlow Systems, a leading provider of cloud-based print workflow solutions based in the U.K. The acquisition continues HP’s focus on delivering industry-leading solutions to customers and commercial printers using HP presses, HP Indigo and HP PageWide Industrial. OneFlow Systems has been an important HP partner, working closely with the company to co-develop a suite of simple to use, innovative features such as the HP PrintOS Site Flow apps and API, designed end-to-end to make online print ordering simple. Features that help commercial printers easily manage thousands of short-run, personalized jobs from submission to shipment daily on presses such as HP T240 PageWide Web Press, HP PageWide Web Press T480 HD, HP Indigo 7900 and Indigo 6900 presses, and HP Indigo 12000 digital presses. Click Read More below for additional information.
The global print market is shrinking in volume but growing in value over the period 2014–24.The average value of print increase will slightly over the ten-year period, as a result of changes in the product mix and the print processes employed. Smithers Pira’s latest market report, The Future of Digital vs Offset Printing to 2024 shows the global output measured in billions of A4 prints was 49,665 in 2019, to remain static through to 2024. In value terms, print output grows from $808.3 billion in 2019 to $862.7 billion in 2024 – a CAGR of 1.3%. Digital print, and especially inkjet, is an increasingly important and valuable part of the overall print market. Accounting for 13.5% of total market output in 2014, this has risen to 17.4% in 2019. As it has done so it has displaced and taken work from offset litho and other existing analogue print process. Click Read More below for additional information.
Discover Financial Services announced that its capital plan for the four quarters ending June 30, 2020 contemplates share repurchases of up to $1.63 billion during the four quarters ending June 30, 2020 and an increase in the company’s quarterly dividend from $0.40 to $0.44 per share of common stock. The Board of Directors is scheduled to approve a new share repurchase program and will consider the dividend increase at its July meeting. The company’s capital plan contemplates actions that maintain capital ratios to meet regulatory and legal requirements and support the company’s funding and other capital markets activities. The timing and exact amount of repurchases under the new repurchase program will be based on market conditions and other factors, including Accounting Standards Update 2016-13, Financial Instruments – Credit Losses, commonly known as CECL, which becomes effective on January 1, 2020, and will change how financial institutions, including the company, account for expected credit losses.
Chico's FAS, Inc. announced that its Board of Directors has unanimously rejected the unsolicited proposal received from Sycamore Partners on June 19, 2019 to acquire all of the outstanding shares of Chico's FAS for $3.00 per share in cash. After reviewing the proposal in consultation with its independent financial and legal advisors, the Chico's FAS Board determined that Sycamore's proposal substantially undervalues Chico's FAS and is not in the best interests of Chico's FAS shareholders. The Board's determination follows its review and unanimous rejection of Sycamore's previous proposal on May 10, 2019 to acquire Chico's FAS for $3.50 per share in cash. David Walker, Chair of the Board, said, "Our focus is on serving the best interests of all Chico's FAS shareholders, and we are pleased with the strong support we have received from numerous Chico's FAS shareholders for the actions underway to improve the Company's performance." Click Read More below for additional information.
Many paper industry products are such an imbedded part of our lives that we often take them for granted, but just think about what our lives would be like without the tissue segment of our business. While paper products are inherently sustainable, the growing circular economy discourse has drawn single-use products like tissues and paper towels into the conversation—and often not in a positive way. However, a closer look at the tissue product sector reveals some interesting sustainability facts that may not be top of mind. First, consider that tissue products are highly engineered to perform multiple functions at once. Bathroom tissue, for example, must be strong, soft and absorbent enough to perform its primary purpose, yet break down in a matter of seconds to pass through wastewater systems. To make products that perform according to a wide range of functions and align with consumer needs, paper towel and tissue manufacturers must use the appropriate mix of wood fiber pulp and recovered paper, as each brings different properties to the table. Achieving ultra-softness and absorbency, for instance, requires the use of fresh fiber. U.S. manufacturers are committed to responsible and sustainable wood fiber sourcing. As part of an overall paper industry sustainability goal, paper towel and tissue producers are continually increasing the amount of fiber procured from certified forestlands and through certified fiber sourcing programs. Click Read More below for additional information.
Amazon announced the U.S. launch of Counter, a new network of staffed pickup points that gives customers the option to pick up their Amazon packages in-store at a partner location. Starting today, customers will have access to more than a hundred Counter locations across the U.S., with thousands of additional locations coming soon. Delivery to a Counter location is available for the tens of millions of items sold on Amazon.com and works with Same-Day, One-Day, Two-Day and Standard Shipping. The service is available to all customers at no extra cost. Amazon designed and built the technology for Counter from the ground up, resulting in a quick and simple package pickup experience for customers. For store partners, Counter’s straightforward pickup flow and user-friendly technology helps ensure store associates can serve customers without disrupting their daily activities. Counter originally launched in the UK with NEXT and in Italy with Giunti Al Punto Librerie, Fermopoint and SisalPay stores. The service has been positively received, driving strong customer engagement and additional foot traffic for partners. Counter goes live today in more than a hundred Rite Aid stores across the U.S. Click Read More below for additional information.
National Average Price for Regular Unleaded – Current: $2.708; Month Ago: $2.827; Year Ago: $2.853. National Average Price for Diesel – Current: $2.995; Month Ago: $3.094; Year Ago: $3.162.
American Dollar to Canadian Dollar = 0.764095; American Dollar to Chinese Yuan = 0.145572; American Dollar to Euro = 1.138054; American Dollar to Japanese Yen = 0.009284; American Dollar to Mexican Peso = 0.052100.