On July 27, the U.S. Department of Labor (DOL) put a new rule into effect that allows employee benefit plan administrators to use an electronic “notice-and-access” disclosure system as the default method of communication, making it much more difficult for millions of Americans who currently receive critical, paper-based information about their 401k, pension and retirement plans to access this information. This includes information called for under the Employee Retirement Income Security Act (ERISA), including quarterly benefits statements, plan summaries and plan changes. This new rule puts many at a disadvantage, particularly the 10% of Americans who say they do not use the internet. According to a 2019 Pew Research Center survey, the size of this group has changed little in recent years, despite ongoing government and social service programs to encourage internet adoption in underserved areas. Among those most disadvantaged by this new rule are senior citizens, (27% of whom do not use the internet), low-income families, people with disabilities and those living in rural or other areas with little or no access to the internet.
*Revenue was $83.6 million lower than last year. COVID-19 negatively impacted our results in the quarter, primarily across our Promotional Solutions, Cloud Solutions and Check segments. *The Payments segment delivered strong revenue growth of 12.6% over the same period last year, benefiting from Treasury Management revenue growth of 20.5% in the second quarter driven primarily by previously announced and continuing business wins. *Net income decreased $17.7 million, driven primarily by the challenging business environment resulting from COVID-19, previously disclosed investments in the Company’s business transformation and a pretax asset impairment charge of $4.9 million related to management's ongoing rationalization of the Company's real estate footprint.
Third Quarter Highlights (all comparisons made to the June 2019 quarter): *Net sales up 50 percent to $2.9 billion *Operating income up 61 percent to $347 million *Operating EBITDA up 67 percent to $581 million *RPC Group Plc (“RPC”) integration and synergy realization progressing ahead of plan *Increased fiscal year 2020 cash flow from operations and free cash flow guidance to $1.45 billion and $830 million, respectively
O-I Glass, Inc. announced it completed the sale of its Australia and New Zealand (ANZ) business unit to Visy Industries. Gross proceeds approximated AUD $947 million including a related sale-leaseback agreement which approximated AUD $214 million. Based on recent currency exchange rates, gross proceeds represented approximately USD $677 million. Approximately 95 percent of proceeds are being received at time of closing and the remaining balance will be paid within 12 months of closing without conditions precedent. Net proceeds will be principally used to reduce debt. O-I ANZ is the largest manufacturer of glass bottles and containers in Australia and New Zealand and the business generated sales of approximately AUD $754 million and EBITDA of approximately AUD $124 million in 2019.
*Operating cash flow increased 42% to $51.2 billion for the trailing twelve months, compared with $36.0 billion for the trailing twelve months ended June 30, 2019. *Free cash flow increased to $31.9 billion for the trailing twelve months, compared with $25.0 billion for the trailing twelve months ended June 30, 2019. *Net sales increased 40% to $88.9 billion in the second quarter, compared with $63.4 billion in second quarter 2019. Excluding the $582 million unfavorable impact from year-over-year changes in foreign exchange rates throughout the quarter, net sales increased 41% compared with second quarter 2019. *Operating income increased to $5.8 billion in the second quarter, compared with operating income of $3.1 billion in second quarter 2019. *Net income increased to $5.2 billion in the second quarter, or $10.30 per diluted share, compared with net income of $2.6 billion, or $5.22 per diluted share, in second quarter 2019.
Staffers at Hearst Magazines digital and print properties voted overwhelmingly yesterday to unionize with the Writers Guild of America, East (WGAE). The election, which happened by mail ballot, follows Hearst management’s refusal to voluntarily recognize its staff’s efforts to unionize in November of last year. Roughly 500 Hearst employees make up the new bargaining unit and work across editorial, video, design, photo and social. The unionized staff seeks to address issues that include diversity, transparency, compensation and editorial standards through its contract.
Pursuant to the terms that will apply to borrowing under the CARES Act, the Postal Service will provide the Department of the Treasury with certain information regarding our costs, revenues, and overall financial position. This includes providing Treasury, under strict terms of confidentiality, with those contracts that generate the most revenue for the Postal Service. Providing this information is merely an acknowledgment of the fact that Treasury has been designated by Congress as the lender for the Postal Service, and it therefore has a legitimate interest under certain circumstances in understanding those factors that affect our current and projected financial position. Other conditions, such as the requirement that borrowed funds only be used for operating expenses, and not for capital expenses, were expressly mandated by Congress in the language of the CARES Act. Contrary to insinuations made in the Washington Post article, nothing in these terms confers upon Treasury any role whatsoever in Postal Service pricing, management, or strategy.
If the people who depend on forests for their livelihoods aren’t included in conversations about sustainable forest management, how can it be truly sustainable? After all, people and forests are closely linked. Forests contribute to the livelihoods of some 1.6 billion people worldwide, the majority of which are in rural regions of developing countries. This means sustainable forest management and certification have the potential to positively impact a huge number of lives around the world. This subject is at the heart of both PEFC and Building and Wood Worker’s International (BWI). Earlier this month, our CEO Ben Gunneberg and Coen van der Veer from BWI came together to talk about this vital issue. Check out their conversation in the video below:
Second Quarter 2020 Summary: *Reported sales and core sales decreased 6% primarily due to the negative effects of COVID-19 on the beauty and beverage markets as well as passing on lower resin costs; negative currency effects were offset by contributions coming from acquisitions *Reported sales growth of 7% and core sales growth of 6% in our Pharma segment was offset by decreases in reported sales and core sales in our Beauty + Home and Food + Beverage segments *Reported net income totaled $42 million (a decrease of 43% compared to the prior year) *Cash flow from operations was $228 million in the first half of 2020 (an increase of 3% compared to the prior year)
Financial Highlights: *Net sales of $532 million compared to $869 million in the second quarter of 2019 *Organic net sales decrease of 29.1% from the second quarter of 2019 *GAAP net loss of $63 million, or $1.86 per diluted share, compared to net loss of $25 million, or $0.72 per diluted share, in the second quarter of 2019 *Cash balance of $97 million as of June 30, 2020, providing sufficient liquidity to continue to fund ongoing operations *No drawings under our debtor-in-possession ("DIP") credit facility
Avery Dennison Label and Packaging Materials announced that its Clear Biaxially Oriented Polypropylene (BOPP) film portfolio has been certified to comply with the Association of Plastic Recyclers (APR) Critical Guidance Protocol for HDPE recycling. The Avery Dennison BOPP portfolio is the first to pass testing, and the company is committed to expanding the portfolio of film materials with pressure sensitive emulsion acrylic adhesives that meet the APR HDPE Critical Guidance moving forward. The announcement gives brands in the personal care and beauty space, as well as other segments that use Avery Dennison clear BOPP films on high-density polyethylene (HDPE) plastics, validation that the labels stay with the container without impacting the recycling process. The APR Critical Guidance is a comprehensive laboratory scale protocol that is used to assess the compatibility of packaging innovations with reclamation systems. The Critical Guidance for HDPE-CG-01 was released on July 20, 2020. Avery Dennison is the first label manufacturer to achieve certification in accordance with the new guidelines. The company has previously achieved certification with APR Critical Guidance for PET plastics.
Mercer International Inc. reported second quarter 2020 Operating EBITDA decreased to $40.5 million from $70.0 million in the second quarter of 2019 and from $57.0 million in the first quarter of 2020. In the second quarter of 2020, net loss was $8.4 million (or $0.13 per share) compared to net income of $10.3 million in the second quarter of 2019 and a net loss of $3.4 million in the first quarter of 2020. In the first half of 2020, Operating EBITDA decreased by 50% to $97.5 million from $193.8 million in the same period of 2019. In the first half of 2020, net loss was $11.8 million compared to net income of $61.9 million in the same period of 2019.
National Average Price for Regular Unleaded Current: $2.189; Month Ago: $2.178; Year Ago: $2.721. National Average Price for Diesel Current: $2.432; Month Ago: $2.436; Year Ago: $2.988.
American Dollar to Canadian Dollar = 0.745208; American Dollar to Chinese Yuan = 0.143390; American Dollar to Euro = 1.184912; American Dollar to Japanese Yen = 0.009532; American Dollar to Mexican Peso = 0.045105.
Headquartered in Boston, Sappi North America (SNA) is an industry leader with more than 2,000 employees in the United States and Canada, and four mills with the capacity to produce 1.35 million metric tons of paper and packaging and 1.17 million metric tons of kraft, high-yield and dissolving pulp. SNA has been a member of Two Sides since its beginning, and both organizations benefit greatly from this strong partnership. With its long-standing commitment to employee and product safety and its dedication to delivering products that meet customers’ needs for more sustainable solutions, SNA is an invaluable source of environmental expertise and thought leadership for Two Sides. With its global network and wide-ranging sustainability resources, Two Sides helps amplify Sappi’s voice in telling the great environmental story of print and paper products.
As brands jump on the hashtag brand-wagon, one wonders if the effort truly makes a difference to the bottom line. Short answer? Absolutely. But, have some brands experienced major fails at achieving an ROI? Absolutely. Does it take a lot of effort and resources to get it right? Absolutely. Why even bother? Campaigns are an excellent tool to create brand awareness, drive traffic, engage customers, promote a product or service, boost social media followers and ultimately helps track and quantify your content. For a stale brand, a brand campaign is the perfect opportunity to blow new life into your business. click read more below to continue
Two Sides, the paper advocacy group that promotes the sustainable and attractive attributes of print, paper and paper packaging has extended its reach and launched the campaign in Latin America. Two Sides has been established in Brazil for many years, but recently announced the expansion of its activities across all 19 countries in Hispanic Latin America with the support of entities representing the sector, who are part of the “Confederación Latioamericana de la Industria Gráfica”.
Second Quarter 2020 Highlights: *Second quarter net earnings (loss) attributable to International Paper of $266 million, compared with $(141) million in the first quarter of 2020 and $292 million in the second quarter of 2019. First quarter 2020 net earnings included an after-tax charge of $337 million for the impairment of the net assets and write-off of foreign currency translation adjustment following the announcement of the sale of our Brazil Packaging business. *Second quarter adjusted operating earnings* (non-GAAP) of $305 million compared with $226 million in the first quarter of 2020 and $460 million in the second quarter of 2019 *Second quarter cash provided by operations of $890 million and year-to-date of $1.5 billion compared with $1.8 billion year-to-date in the same period of 2019 *Liquidity position of $3.6 billion at the end of the second quarter compared with $3.5 billion at the end of the first quarter, which reflects cash and unused committed facilities
Resolute Forest Products Inc. reported net income for the quarter ended June 30, 2020, of $6 million, or $0.07 per diluted share, compared to net income of $25 million, or $0.27 per diluted share, in the same period in 2019. Sales were $612 million in the quarter, a decrease of $143 million from the year-ago period. Excluding special items, the company reported a net loss of $22 million, or $0.25 per share, compared to net income of $11 million, or $0.12 per diluted share, in the second quarter of 2019. The company reported operating income of $6 million in the second quarter. The $14 million improvement over the previous quarter reflects the favorable impact of the weaker Canadian dollar ($11 million), stronger pulp pricing ($9 million) and higher lumber shipments ($9 million), offset by lower paper and pulp shipments ($18 million) and softer quarter-over-quarter lumber pricing ($5 million), despite a late quarter increase in pricing.
The U.S. Postal Service announced a loyalty program designed to help smaller businesses, according to a press release obtained by Total Retail. Registered business users of USPS Click-N-Ship will earn credits by purchasing postal products they're already using for their shipping needs. Priority Mail and Priority Mail Express postage purchased online through Click-N-Ship will generate credits that can then be applied to future purchases of these products. Click-N-Ship business account users will earn $40 credits for every $500 spent on Priority Mail and Priority Mail Express labels. The program will launch nationally on Aug. 1. Existing business accounts will be auto-enrolled in the program. New Click-N-Ship business account users will earn a one-time $40 Welcome Bonus for the first $500 spent on Priority Mail and Priority Mail Express postage. In addition, the Postal Service is offering a one-time $20 Introductory Bonus for any registered Click-N-Ship business user for $500 spent in August and September this year.
UPS announced second-quarter 2020 consolidated revenue increased to $20.5 billion, a 13.4% increase from the second quarter of 2019. Net income was $1.8 billion for the quarter; adjusted net income was $1.9 billion, 8.8% above the same period in 2019. Operating profit was $2.2 billion, and adjusted operating profit was $2.3 billion, up 7.4% compared to last year’s second quarter. Diluted earnings per share was $2.03 and adjusted diluted earnings per share was $2.13, up 8.7% from the same period last year. GAAP results included a pre-tax transformation charge of $112 million, equivalent to $0.10 per share. In the prior year period, GAAP results included a pre-tax charge for transformation costs of $21 million, equivalent to $0.02 per share.
United States Postmaster General Louis DeJoy announced today that the United States Postal Service (USPS) has reached an agreement in principle with the United States Department of the Treasury on the terms and conditions associated with $10 billion lending authority provided in the CARES Act. The USPS Board of Governors unanimously approved the agreement in principle yesterday and expects that the parties will formally memorialize the agreement through loan documents that will be jointly developed over the coming weeks. DeJoy expressed his appreciation to U.S. Treasury Secretary Steven Mnuchin for working with him to reach mutually acceptable terms and conditions. DeJoy said, “Access to an additional $10 billion in borrowing authority will delay the approaching liquidity crisis.”
January–June 2020 (compared to 1–6/2019) • Sales were EUR 945.2 million (964.2). • Comparable operating result was EUR 94.2 million (102.8), or 10.0% (10.7%) of sales. Operating result was EUR 100.3 million (118.3). • Comparable earnings per share were EUR 0.19 (0.23), and earnings per share were EUR 0.21 (0.27). • Comparable return on capital employed was 10.7% (11.7%). • Net cash flow from operations was EUR 152.3 million (67.1). April–June 2020 (compared to 4–6/2019) • Sales were EUR 473.1 million (477.1). • Comparable operating result was EUR 60.5 million (41.0), or 12.8% (8.6%) of sales. Operating result was EUR 66.5 million (46.4). • Comparable earnings per share were EUR 0.13 (0.09), and earnings per share were EUR 0.15 (0.10). • Comparable return on capital employed was 13.9% (9.7%). • Net cash flow from operations was EUR 72.3 million (30.7).
January–June 2020 (1–6/2019) •Sales were EUR 2,453 million (2,809). •Operating result was EUR 163 million (232). Comparable operating result was EUR 158 million (308). •Result before taxes was EUR 139 million (202). The comparable result before taxes was EUR 134 million (279). •Comparable return on capital employed was 6.2% (12.1). •Cash flow from operations was EUR 240 million (183). April–June 2020 (4–6/2019) •Sales were EUR 1,200 million (1,372). •Operating result was EUR 102 million (49). Comparable operating result was EUR 96 million (128). •Result before taxes was EUR 93 million (36). The comparable result before taxes was EUR 86 million (115). •Comparable return on capital employed was 7.6% (10.2). •Cash flow from operations was EUR 190 million (142).
Sonoco ThermoSafe is building PharmaPortal™, a vendor-neutral blockchain platform for use by pharmaceutical manufacturers and carriers. Built on IBM Blockchain Transparent Supply, PharmaPortal intends to address the industry’s needs to trace assets across many different supply chain participants, record a single version of the truth on all events generated on a package’s journey, integrate this data with that of other businesses across an industry-scale network, and provide access controls to help ensure each data owner maintains control over who can access it on the network. The openly governed blockchain network built on open source technology will initially focus on end-to-end traceability of temperature-controlled drugs, such as vaccines, and provide an audit trail of environmental condition monitoring to help protect the efficacy of these lifesaving, life-extending and life-enhancing medicines. To help drive its development, Sonoco will invite industry leaders to collaborate on the initiative to optimize the safety and efficiency of global temperature controlled pharmaceutical distribution.
Ahlstrom-Munksjö announces a further investment in its Binzhou plant to be able to produce abrasive backing papers locally in China. Through this investment the company will further strengthen its leading position in abrasive backings globally. The investment project, involving an upgrade of an existing machine on site, will start in Q1 2021 and is expected to be completed in the second half of 2021. The construction work will not cause disruptions to the existing customers.
Mondi has developed the world’s first sustainable polycoated kraft (PCK) paper release liner, which is being launched on a global scale. Such liners are indispensable to carry and protect pressure-sensitive adhesive (PSA) products, and currently are often discarded once the PSA products are used. Mondi’s NextLiner uses a recycled base paper with a coating made from renewable resources. Using recycled fibres and renewable materials can have a positive impact on the environmental footprint of NextLiner, used in graphic arts, tapes and other industrial applications. Technical Data: *NextLiner is currently available in a 90-pound PCK grade (90# Liner), a standard graphic arts grade. Additional grades are available by adjusting the polycoating and paper weight. *NextLiner is available in a plain or structured version (as AirXLiner™). *Polycoated kraft paper has several advantages over alternative constructions, as it doesn’t tear easily and offers comparable moisture resistance properties. It has good layflatness, even when wet, and typically comes in an overall higher grammage (e.g., 90-gramm) compared to the standard, thinner options often used for labels.
Financial summary for the quarter: *Severe impact from Covid-19 on profitability *EBITDA excluding special items US$26 million (Q3 2019 US$118 million) *Loss for the period US$73 million (Q3 2019 Profit of US$8 million) *Net debt US$1,977 million (Q3 2019 US$1,728 million) *EBITDA from packaging and specialities segment increases 109%. For the quarter dissolving pulp (DP) and graphic paper sales volumes were 29% and 40% lower respectively. In response, a number of cost containment initiatives were implemented which, along with a positive currency movement, resulted in fixed costs being US$67 million less than the equivalent quarter last year. Consequently, the group generated EBITDA excluding special items of US$26 million compared to US$118 million in the equivalent quarter last year, which led to a decline in profitability and a loss of US$73 million for the quarter.
One of the (many) advantages of working with CohereOne is the ability to aggregate data points from multiple sources to gain a clearer view on what can improve results for our clients. A strategy that has consistently stood out when we review results is the power of using “digital indicators” to identify customers who are more engaged with the brand when making selections on who to mail. We have found three that have proven to work in most cases: Email Opt-in vs. Opt-out: flagging your buyers on whether they have opted out of email marketing is a sure indication that they will not perform as well as buyers vs. those who have continued to hear from you. This delta is as high as 170% better for the opt-in buyers for one of our clients! click read more below for the rest...
Packaging Corporation of America reported second quarter 2020 net income of $57 million, or $0.59 per share, and net income of $132 million, or $1.38 per share, excluding special items. Second quarter net sales were $1.54 billion in 2020 and $1.76 billion in 2019. Reported earnings in the second quarter of 2020 include $.79 per share of special items expense primarily for the impairment of goodwill associated with our Paper segment (as described below), the previously reported closure of our corrugated products production facility in San Lorenzo, CA, and costs and expenses associated with the COVID-19 pandemic.
Meredith Corp. doesn't just publish magazines. It manufactures them. That was the conclusion of a three-year legal battle that ended last week when attorneys for the U.S. Department of Justice dropped an appeal against Meredith. The conclusion of the civil lawsuit clears the path for the Des Moines-based publisher of titles such as Better Homes and Gardens, People, Magnolia and Southern Living to collect a $12.2 million tax deduction. At issue was whether Meredith is technically a manufacturer, which would qualify the company for the tax break, which is designed to keep production jobs in the U.S. Although it does not print its magazines, Meredith argued it broadly fits the description of a manufacturer because of all the other work it does to make the product.
Republican Senator Josh Hawley, a frequent critic of tech companies, has unveiled a bill that would require web publishers to avoid personalized advertising in order to maintain their protections from lawsuits based on users' speech. “Big Tech’s manipulative advertising regime comes with a massive hidden price tag for consumers while providing almost no return to anyone but themselves,” the Missouri lawmaker stated Tuesday. His proposed “Behavioral Advertising Decisions Are Downgrading Services (BAD ADS) Act” would strip large web companies of the protection of Section 230 of the Communications Decency Act if the companies either engage in what he calls “behavioral advertising,” or allow users' data to be collected for such advertising.
Torstar Corporation announced that the Ontario Superior Court of Justice (Commercial List) has approved its previously announced plan of arrangement involving NordStar Capital LP ( “NordStar”), pursuant to which NordStar will, among other things, acquire all of the issued and outstanding Class A shares and Class B non-voting shares of Torstar (the “Shares”) at a price of $0.74 per Share (the “Arrangement”). The Arrangement is expected to be completed on or about July 30, 2020 and remains subject to the satisfaction or waiver of certain customary closing conditions.
Cascades Inc. announces that it will close its Etobicoke, Ontario Containerboard packaging facility as part of the strategic repositioning of its Containerboard platform in Ontario and the Corporation's continuing global optimization initiatives. Cascades' Etobicoke Containerboard Packaging operations will permanently close no later than August 31, 2021, and the property will be put up for sale. Over the coming weeks and months, Cascades will work to minimize the impact of this announcement on the 125 employees related to this facility. It is important to note that this announcement has no impact on the activities of our Cascades Recovery+ facility and offices that are also located in Etobicoke.
Key Points: Strong performance against key metrics* EBITDA of €735 million, with an EBITDA margin of 17.5%*Free cash flow of €238 million *ROCE of 14.8% *Leverage of 2.1x *Dividend payment of 80.9 cent per share. “Our European business performed strongly in the first six months with an EBITDA margin of 17.6% and flat corrugated box volumes. “The EBITDA margin of the Americas business improved again year-on-year from 17.1% to 19.0%.
Flint Group‘s 2020 Sustainability Report outlines the company‘s performance in three key areas—Governance, Environment and Social – detailing the way in which Flint Group has incorporated sustainable business practices into its daily activities. Governance: reflects the company strong culture of integrity and compliance. Environment: Divisional sustainable initiatives present the company strategy with a clear focus on energy usage, water consumption, waste reduction and recycling. Social: shows some of our actions to make the world a better place both for Flint Group employees and for those around us.
One of the iconic names in the printing industry was laid to rest July 27 with the closure of The Hennegan Co., located just outside Cincinnati in Florence, Ky. The shutdown officially marked the end of the award-winning, marquee printing operation that traced its roots all the way back to 1886, and to the revered Hennegan family name in printing that went along with it. Hennegan's 210,000-sq.-ft. facility, built in 1996, housed six-, eight-, and 12-color sheetfed offset presses; full-size, six- and eight-unit web offset presses; HP and Xerox digital presses; and complete binding, mailing, fulfillment, and warehousing capabilities.
Second quarter key messages: *GAAP net sales decreased 23.0%; non-GAAP organic net sales decreased 17.1%; June net sales performance was the strongest month in the quarter as local economies began to reopen *GAAP (loss) income from operations was down $36.8 million versus the prior year; non-GAAP adjusted income from operations decreased $14.1 million; additional cost-out actions implemented throughout the quarter *Operating cash flow in the quarter increased $22.5 million from the prior year period driven by working capital improvements; year-to-date improvement now at $72.9 million; capital expenditures were down $18.6 million in the quarter
Monadnock Paper Mills, Inc. announces its newest line of coated text and cover papers, Astrolite PC 100® Velvet C2S, is the only premium, coated 100-percent recycled sheet compatible with heatset web presses that is manufactured in the U.S. In independent testing, Velvet demonstrated superior performance with no defects: *On an 8-color Rotoman AC press, the 80 lb. text weight printed up to 35,000 impressions per hour (1,145 fpm) without any web breaks and resulted in excellent print quality. *The product ran to standard operating densities without any major changes to fountain keys. *Velvet offered a good operating window for paper and ink tack build and will sustain up to eight colors down on each side.
*$34 million of operating cash flow from continuing operations, down $242 million year-over-year, and $15 million of free cash flow, down $245 million year-over-year *$1.47 billion of revenue, a decrease of 35.3 percent year-over-year or 34.6 percent in constant currency *GAAP earnings per share (EPS) from continuing operations of $0.11 per share, down $0.49 year-over-year, and adjusted EPS of $0.15, down $0.64 year-over-year
Amazon announced it has delivered more than 6 million meals with 7.4 million pounds of food since the start of the COVID-19 pandemic to people in need in over 25 cities across the U.S.—with plans to deliver a million more meals by the end of summer. With communities facing record-high unemployment and many observing strict social distancing guidelines, food banks have experienced unprecedented demand. Amazon delivery drivers are stepping in to help by safely delivering meals directly to clients’ homes. Amazon has donated delivery services to food banks and community organizations since March through its Amazon Flex network and other delivery partners. “Amazon has a longstanding commitment to addressing right now needs – with over $100 million in donations to homelessness, hunger, and disaster relief,” said Alice Shobe, Director of Amazon in the Community. S&P Global Revenue Increased 14% In Second Quarter
*Revenue and Operating Profit Grew Across All Four Divisions *Diluted EPS Increased 46% to $3.28; Adjusted Diluted EPS Increased 40% to $3.40 *Operating Profit Margin Improved 920 Basis Points to 56.9% *Adjusted Operating Profit Margin Improved 740 Basis Points to 58.7% *Several New Products Launched During the Quarter
Postmaster General Louis DeJoy issued the following statement on July 27, 2020: “The Postal Service is in a financially unsustainable position, stemming from substantial declines in mail volume, and a broken business model. We are currently unable to balance our costs with available funding sources to fulfill both our universal service mission and other legal obligations. Because of this, the Postal Service has experienced over a decade of financial losses, with no end in sight, and we face an impending liquidity crisis. Congress and the Postal Regulatory Commission must enact legislative and regulatory reforms to help address the situation. At the same time, it is imperative for the Postal Service to operate efficiently and effectively. Indeed, there are alternatives to every product that we offer, and the only way that the Postal Service can continue to provide prompt, reliable, and affordable universal postal services for all Americans over the long-term is by vigorously focusing on the efficiency of our operations." click read more below for additional comments
Convenience store chain Circle K has released its first sustainability report, and PEFC-certified packaging plays a critical role as they look to reduce their environmental footprint, use resources efficiently and help protect our planet. Using certified paper was an important requirement in the tender process for Circle K’s new range of holistic food packaging within all stores across Europe. “Food is a crucial part of our business, and with food comes packaging. As we serve our great food in all European markets, this means we use large volumes of paper within in our food packaging,” explains Vibeke Veiseth, Senior Concept Development at Circle K Europe.
Announced in 2018, Sonoco’s commitments for sustainable use and increased recyclability of packaging by 2025 include: *Sonoco will increase the equivalent by weight, the amount it recycles, or causes to be recycled, from 65 percent to 85 percent, relative to the volume of packaging it places into to the global marketplace. In 2019, the Company recycled or caused to be recycled 83 percent of the products it placed in the marketplace. *Sonoco is committed to increasing the use of post-consumer recycled resins in its plastic packaging from 18 percent to 25 percent. Sonoco utilized 21 percent recycled content in its plastic supply chain in 2019, including 18 percent post-consumer content. *Sonoco will ensure that approximately 75 percent of its rigid plastic packaging can carry the relevant on-package recyclable claim.
Taylor Corp. acquired its first production inkjet press in 2009, and it has been a proponent of the technology ever since. But, given that the company — ranked sixth on the 2019 Printing Impressions 400 list of the industry’s leading print service providers — consists of 80 subsidiaries operating in 25 states and nine countries, any technology naturally would need time to make its influence felt throughout an organization of such vast size. Inkjet technology gained a higher profile within the Taylor family when a business unit of one of its companies recently became the first printing site in the world to install an AccurioJet KM-1e sheetfed color production inkjet press from Konica Minolta. The press, an enhanced version of Konica Minolta’s successful AccurioJet KM-1 platform, is expected to broaden the range of what the business unit and its parent company can produce, achieving new levels of quality and cost efficiency for both. The B2+ format, LED-UV AccurioJet KM-1e went into full operation at FolderWorks, a division of Navitor, at Navitor’s North Mankato, Minn., headquarters in March.
The U.S. Department of Labor put a new rule into effect that allows employee benefit plan administrators to use an electronic “notice-and-access” disclosure system, as a default method, which will make it much more difficult for millions of Americans who received critical, paper-based information about their 401k, pension and retirement plan rules. In a 2019 Pew Research Center survey, 10 percent of U.S. adults said they do not use the internet. American Forest & Paper Association (AF&PA) President and CEO Heidi Brock issued the following statement in response to the rule: “The American Forest & Paper Association is disappointed the Department of Labor’s ‘notice-and-access’ rule will result in fewer Americans receiving critical financial information to help them plan for retirement. “By creating electronic disclosures as the default, U.S. retirement plan holders must now navigate an onerous process to retrieve critical plan and benefit information that would otherwise arrive automatically and reliably by mail."
Q2/2020 compared with Q2/2019 -Net sales decreased by 16.6% to EUR 621.5 million (745.1), mainly due lower delivery volumes -Comparable EBITDA decreased by 11.7% to EUR 74.0 million (83.8), representing 11.9% (11.2) of net sales, supported by variable and fixed costs reduction actions -Operating result of EUR 25.8 million (35.0). Q1-Q2/2020 compared with Q1-Q2/2019: -Net sales decreased by 10.9% to EUR 1,339.6 million (1,502.8), negatively impacted by price, product mix and volumes -Comparable EBITDA increased by 4.4% to EUR 165.7 million (158.8), representing 12.4% (10.6) of net sales, as lower variable costs more than offset lower selling prices and deliveries -Operating result of EUR 99.6 million (52.9), including a capital gain of EUR 32.0 million from the sale of the fine art paper business
Total European shipments of graphic papers were down 35.8% in May 2020 vs. May 2019 and were down 17.4% year-to-date. Total European shipments of newsprint were down 27.6% in May 2020 vs. May 2019 and were down 14.5% year-to-date. otal European shipments of sc-magazine were down 31.3% in May 2020 vs. May 2019 and were down 19.0% year-to-date. Total European shipments of coated mechanical reels were down 41.4% in May 2020 vs. May 2019 and were down 23.3% year-to-date. Total European shipments of uncoated mechanical (improved & others) were down 20.8% in May 2020 vs. May 2019 and were down 7.6% year-to-date. Total European shipments of coated woodfree were down 49.3% in May 2020 vs. May 2019 and were down 22.5% year-to-date. Total European shipments of uncoated woodfree were down 35.8% in May 2020 vs. May 2019 and were down 13.6% year-to-date.
This past Spring, our sawmill in Ashland, Maine turned on a turbine that reduces the site's carbon footprint by 1000 tonnes of C02. The turbine is part of a $1.8 million dollar investment in the mill which also included an upgrade to the boilers and an additional control room. This energy efficient project was completed just prior to the COVID-19 outbreak, which all J.D. Irving, Limited Maine operations navigated without any cases of COVID-19 or layoffs. The turbine will allow the site to limit their purchase of electricity, by choosing a greener option. Burning bark, that is already being removed from the logs, creates steam pressure and spins the turbine, creating its own electricity. In addition, there is now sawdust that can be transported to Grand River Pellets (GRP), JDI's pellet plant. The use of site generated mill residues as fuel also reduces landfill disposal and the ash generated from the wood can be used as a soil conditioner on agricultural land. See how JDI ash from other sites is being used on farmers fields here.
Mondi Paper Bags has acquired two paper bag lines from Helwan Cement Company and InterCement Sacs, two major cement producers in Egypt. The acquired production lines will increase Mondi’s capacity by approximately 60-80 million bags annually and strengthen Mondi's position in the Middle Eastern bag market, particularly in supporting suppliers to the construction industry. Mondi Paper Bags, a global producer that operates two plants in Egypt, will also become the exclusive supplier of paper bags to Helwan Cement Company and InterCement Sacs. "We are excited to have signed long-term supply agreements with two of our biggest customers in Egypt further securing our position in the Middle Eastern market.
American Carton Company, Mansfield, TX, has installed a six-color Komori Lithrone GX40 press with both conventional UV and UV LED to increase its folding carton print capacity. Folding cartons are the company’s primary product, and American Carton currently holds a number of globally-recognized certifications to meet the quality and U.S. FDA safety compliance requirements of its clients in the pharmaceutical, medical device, food, personal care products and retail markets. American Carton chose the GLX640 for its ability to meet both complex packaging requirements and high-end commercial print applications, making it possible to expand on what the company can offer its customers. Key to American Carton’s success is the full range of services it offers, from design and prototyping through printing to die-cutting, embossing and finishing. General Manager, Trent Tucker, expects the GLX640 to become the company workhorse.
Net sales were $1.53 billion, down 14.9 percent. Sales were down 12.0 percent ex. currency, and down 13.7% on an organic basis. Reported operating margin declined 350 basis points to 8.1 percent. Adjusted EBITDA margin declined 60 basis points to 14.0 percent, while adjusted operating margin declined 140 basis points to 10.7 percent. Reported net income was $0.95 per share, compared to $1.69 per share in the prior year second quarter. Adjusted net income was $1.27 per share, down 26 percent, above the company’s expectations, reflecting a sales decline below the low end of its outlook range in April. Year-to-date free cash flow was $109 million, down 34 percent. Free cash flow in the second half of the year is expected to accelerate reflecting normal seasonality as well as higher net income and an increased focus on working capital productivity.
McClatchy announced that it filed an asset purchase agreement with the U.S. Bankruptcy Court, formalizing the details of Chatham Asset Management's successful bid for ownership of McClatchy in the Chapter 11 sale process. The filing is a key milestone in the reorganization and paves the way for a change in control of the 163-year-old news company. Under Chapter 11 rules, the proposed asset purchase is scheduled for consideration by the Court for approval at a hearing on August 4. Under the agreement, Chatham will acquire McClatchy for $263 million in a credit bid of the Company's first-lien debt, plus new money consideration of $49 million in cash and the assumption of additional liabilities.
Highlights:*Underlying revenue down 17% on prior year largely due to COVID-19*Group sales decline largely reflects test centre and school closures in Global Assessment and International. After deterioration from March to May we saw improving sales trends in June.*Global Online Learning sales grew 5% due to strong enrolments in new and existing schools in Virtual Schools and slight revenue growth in OPM with good growth in continuing programs offset by discontinued programs.*Global Assessment declined 27% due to the impact of test centre closures in Professional Certification (Pearson VUE), cancellation of spring testing in Student Assessment and school closures impacting Clinical Assessments.*North American Courseware declined 14% with US Higher Education Courseware declining in line with expectations due to the continuation of trends seen in 2019, and a modest impact from the closure of campus-based bookstores. We saw a weaker performance in courseware in Canada largely as a result of school and bookstore closures. *International declined 23% due to the disruption in businesses which rely on physical locations including school and test centre closures.
Amazon.com, Inc. announced plans to open a fulfillment center in Mt. Juliet, Tennessee. The site, which is anticipated to launch in late 2021, will create more than 1,000 new, full-time jobs with benefits and opportunities to engage with advanced robotics. The company currently has fulfillment and sortation centers in Charleston, Chattanooga, Lebanon, Murfreesboro, Memphis and Nashville. “Tennessee is a great state for business and gives us the opportunity to better serve our customers in the region,” said Alicia Boler Davis, Amazon’s vice president of global customer fulfillment. “We are excited about our growth and remain committed to creating a positive economic impact in the region with job opportunities with great pay and industry-leading benefits.”
Second Quarter Financial Highlights: - Sales of $2.8 billion with significant share gain in the U.S. - Generated reported operating earnings of $205 million; adjusted operating earnings of $315 million - Over $75 million in sequential SG&A cost savings - Generated $232 million in operating cash flow and returned $86 million to shareholders through dividends
Oprah Winfrey's monthly magazine will cease printing after its December 2020 issue, according to a report by Business of Fashion. Asked for comment, a rep for Hearst Magazines emphasized to The Hollywood Reporter that the brand is not going away but will become "more digitally centric." Said Winfrey in a statement: "I'm proud of this team and what we have delivered to our readers over the past 20 years. I look forward to the next step in our evolution."
With another strong showing by the juvenile nonfiction category, unit sales of print books rose 16.6% in the week ended July 18, 2020, over the comparable week in 2019, at outlets that report to NPD BookScan. Units were up 40.9% in juvenile nonfiction from the week ended July 20, 2019, led by a new surge of sales for one of this year’s biggest bestsellers, My First Learn-to-Write Workbook by Crystal Radke, which sold nearly 40,000 copies in the week. The adult nonfiction category also did well, with unit sales increasing 19.9% over 2019, helped by Mary L. Trump’s Too Much and Never Enough, which sold 337,473 print copies in its first week. White Fragility by Robin DiAngelo was #2 in the category, selling nearly 49,000 copies.
Walgreens announced this week that it has joined a groundbreaking consortium that aims to reinvent the single-use plastic retail bag. Teaming up with other major retailers and with non-profit organizations in the Consortium to Reinvent the Retail Bag, Walgreens is committed to being part of the solution to the waste and recycling issues associated with the use of more than 100 billion retail plastic bags every year in the U.S. The goal of the Beyond the Bag initiative is to identify, test and implement viable design solutions and models that more sustainably serve the purpose of the current retail bag. Current alternatives to the plastic retail bag have yet to garner industry-wide support or widespread use by the public and many still have significant environmental impacts.
Certification body representatives and trainers are invited to register for one of our upcoming online Initial Sessions, as part of the PEFC Training Recognition Programme. This Initial Session is the first phase for certification bodies wishing to get their internal PEFC chain of custody training programme recognized by PEFC, through the PEFC Training Recognition Programme (TRP). Once your internal training programme is approved, you will be able to train your personnel to carry out audits against the 2020 PEFC Chain of Custody standard.
Italian converter AMB SpA has acquired German firm PTS (Prime Tray System) Verpackungen, a manufacturer of injection-moulded cups, bags and composite plastics films. Located in Gauting, Bavaria, PTS has been responsible for sales of the AMB product range for several years. With the purchase, AMB is keen to strengthen its market position in Germany, Austria and Switzerland. AMB operates from five locations in Europe, employs 435 people and boasts turnover of more than €160 million ($184m).
Mactac® Industrial Tapes announces the launch of MacBond® FBR899 Series Tapes, a versatile line of industrial tapes designed to adhere to nearly any and every surface. The product line features Mactac’s workhorse MacBond FBR899 adhesive. Unlike any other adhesive on the market, FBR899 offers the highest-tack rubber available, as well as an excellent blend of adhesion and peel. It has exceptional low-surface energy (LSE) performance and superior adhesion to most open- and closed-cell foams, as well as corrugated materials. Additionally, it forms aggressive bonds to textiles and textured surfaces.
Mactac®, a leading supplier of pressure-sensitive papers and films, and ARMOR, a leader in the design and production of thermal transfer ribbons, are partnering to bring thinner, more sustainable thermal transfer solutions to the labeling industry. Both companies offer thermal transfer solutions that are designed to help reduce the labeling industry’s environmental impact, including Mactac’s Optiscan® thermal transfer products with BLOOM® hi.mpact™ liner and ARMOR’s inkanto® APR1 wax-resin thermal transfer ribbon. When Optiscan products (Optiscan V, Optiscan K and Optiscan 2C) with BLOOM hi.mpact and APR1 ribbon are used jointly as a comprehensive thermal transfer solution, printers, converters and end-users benefit.
Metsä Board, a leading European producer of premium lightweight paperboards and part of Metsä Group, is glad to announce that its paperboards have now achieved DIN CERTCO certificates in industrial compostability complying with DIN EN 13432 and ASTM D6400 standards. In addition, Metsä Board’s eco-barrier paperboard MetsäBoard Prime FBB EB also holds a home compostability certificate. As one of the leading companies, Metsä Board provides certification across its product line helping customers choose packaging materials that comply with their requirements. “In order to enhance circular economy our main target is that our paperboards are recycled after use. But recycling is not always possible – the paperboard may be contaminated due to its contents and cannot be recycled. In this instance compostability is the next best alternative,” says Helena Moring-Vepsäläinen, Product Safety Manager at Metsä Board.
• Second quarter of 2020 reported operating income of $97 million, includes $81 million recovery of previous inventory write-downs in the lumber segment • Vida Group (“Vida”) announced agreement to purchase Bergs Timber Production AB (“Bergs”) sawmill assets for $43 million plus working capital, which will add 215 million board feet to Vida’s annual capacity • Completed acquisition of Elliott Sawmilling Co., LLC (“Elliott”) • Announced permanent closure of Isle Pierre sawmill, located near Prince George, British Columbia (“BC”) due to an insufficient supply of economically viable timber
The Company reported an operating loss of $6.3 million for the second quarter of 2020, down $12.4 million from operating income of $6.1 million reported for the first quarter of 2020. Reported results for the second quarter of 2020 included an $8.2 million finished pulp and raw material inventory write-down at period end. After adjusting for this, the Company’s operating income was $1.9 million for the second quarter of 2020, up $6.5 million from a similarly adjusted operating result in the previous quarter. The Company’s operating results for the second quarter of 2020 reflected direct and indirect impacts of the coronavirus outbreak on global markets, and more specifically the pulp and paper business.
Mondi Syktyvkar, part of Mondi Group, a global leader in packaging and paper, has successfully completed a major step in the modernisation of its power plant, with the installation of a new bark boiler. Mondi Syktyvkar worked with Valmet as main equipment supplier to execute this transformation. This project will allow the plant to significantly improve its environmental performance and to decrease greenhouse gas emissions.
Stora Enso and Helsinki Olympic Stadium have signed a partnership agreement to develop low-carbon, eco-friendly operations at the stadium by promoting the use of renewable materials and circular economy solutions. Stora Enso explores reusing products as well as recycling used materials to give high-quality wood fibers a second life in new products that will be available at the stadium for different services and operations. Stora Enso and Helsinki Olympic Stadium share the aim of promoting the use of renewable materials in customer and food service packaging to reduce the climate impact of stadium operations. In addition, the aim is to ensure that materials get recycled to a high degree. Packaging made of renewable materials has a high recycling rate throughout Europe and it typically has a low carbon footprint that is further reduced when recycled.
Why are marketing campaigns so effective? What is the secret behind the good ones that people remember and talk about (REI’s “Opt Outside”)? Quite simply, a BIG IDEA. The best marketing and advertising over the decades have always been driven by a singular great idea (“Got Milk?”). A core idea that ties everything together. An idea that resonates with the audience and makes them think about your product or service in a different way. Remove that big idea and all you’re doing is selling products, just like the other brands. Blah. But when you build your marketing efforts around a campaign, and use that “big idea” consistently across all touch points, it’s more likely to get noticed, more likely to be remembered, and more likely to engage people on a human level. In other words, campaigns work. It’s no secret that I’m a huge Beatles fan, so once again, I will use them as a way of illustrating my point. When Paul McCartney was thinking about a different way to go about recording a new album in 1966, he came up with a big idea that would drive the entire creative process. What if the four lads took on a different persona, actually changing the name of the band? What if they reinvented their identity just this one time? much more at: https://www.jschmid.com/blog/campaign-building-blocks-the-big-idea/
The ACMA is excited to cosponsor the upcoming webinar, Rethinking Catalogs: New Technology, New Processes, New Economics, to be held on August 10th at 1:00 pm Eastern Time. Lands’ End Creative Director Daniel Hetzer and Inkjet Insight Founding Partner Elizabeth Gooding will discuss how catalog creative and production processes are adapting to new customer attitudes, technical capabilities and economic realities. Takeaways: •How shifting customer attitudes are affecting retail buying patterns •Objective approaches to measuring catalog and direct mail effectiveness •The impact of Covid-19 on cataloging •Trends toward personalization and customization that predate the pandemic and those that can be used effectively and efficiently •Consideration of new strategies for when to print, what to print and how to print. Register at: https://us02web.zoom.us/webinar/register/WN_6eXQly3hTnmwD8mamsUJhg
The ACMA is excited to release the agenda for our upcoming virtual National Forum. Registartion will be announced very soon, but for now, please save the dates and plan on attending. Here are the key facts: No 'Zoom overload' promised! This year’s Forum will be held entirely via a series of Zoom meetings. Following an opening session focused on the upcoming elections on September 2nd, there will be back-to-back 45-minute online sessions held on the three subsequent Wednesdays. Cost & Attendance: Although the issues and focus will on C-level executives, attendance is complementary to all catalog/online/direct merchants and their suppliers, both ACMA members and non-members, as long as you completely fill out the brief registration form (coming soon). See the agenda at: https://catalogmailers.org/wp-content/uploads/2020/07/ACMA-Virtual-Forum-Agenda-2020.pdf - click read more below for additional info
Q2 2020 in brief •Net sales decreased 8% to EUR 797 million (EUR 867 million) •Comparable net sales growth was -8% at Group level and -12% in emerging markets. H1 2020 in brief •Net sales decreased 2% to EUR 1,642 million (EUR 1,669 million) •Comparable net sales growth was -3% at Group level and -8% in emerging markets.
H1 2020 highlights *Sales decreased by 18% to EUR 4,364 million (5,298 million in H1 2019) due to lower deliveries of graphic papers and lower pulp and paper sales prices *Comparable EBIT decreased by 33% to EUR 482 million (719 million), and was 11.0% (13.6%) of sales *UPM's transformative pulp project in Uruguay and biochemicals project in Germany are well on track with the planned start-up timeline *Operating cash flow was EUR 293 million (756 million) *Net debt decreased to EUR 301 million (366 million) *Cash funds and unused committed credit facilities totalled EUR 2.0 billion at the end of June
The Home Depot®, the world's largest home improvement retailer, announced companywide sustainability progress in its 2020 Responsibility Report, which outlines the company's 2019 progress on its corporate responsibility strategic pillars: focus on people, operate sustainably and strengthen communities. The report also introduces several new goals and provides an update on the company's recent response to COVID-19 and social equality issues. New goals include a commitment to produce and procure energy from 335 megawatts of renewable and alternative energy projects by 2025 – equivalent to the amount of energy it takes to power more than 90,000 homes. Additionally, the company pledged to eliminate expanded polystyrene (EPS) foam and polyvinyl chloride (PVC) film from its private brand packaging by 2023. As part of its existing pledge to reduce carbon dioxide emissions by 50 percent by 2035, The Home Depot reduced its greenhouse gas emissions by 10 percent in 2019.
The New York Times Company announced that it would acquire Serial Productions, the company that produces the groundbreaking “Serial” podcast. In addition to the acquisition, The Times also announced that it had entered into an ongoing creative and strategic alliance with “This American Life” that will enable it to continue to collaborate on long-form audio stories with Serial Productions and to collaborate on marketing and advertising sales with The Times. The terms of the transaction were not disclosed. Serial Productions is a team of audio’s best and most successful long-form journalists and narrative storytellers led by Julie Snyder, Sarah Koenig and Neil Drumming. Each episode of “Serial’s” first season was downloaded 20 million times on average and is credited with igniting the current podcast boom. “This American Life” is the iconic, long-running, weekly public radio program, founded by host and executive producer Ira Glass.
The total invoiced value (or publishers' sales to accounts) of U.K. publisher sales rose to £6.3 billion in 2019, 4% higher than in 2018 and 20% higher than in 2015, making 2019 the biggest year ever for U.K. publishing. The Publishers Association’s new figures, released in its annual "Yearbook" report, shows growth in both print and digital sales. The significance of export sales is underlined by the report: exports accounted for 59% of total sales. Other headline facts include: print sales up 3% to £3.5 billion; digital sales up 4% to £2.8 billion; home sales up 4% to £2.4 billion; export sales up 3% to £3.7 billion; consumer audiobook downloads sales up 39% to £97 million, and nonfiction and reference sales up to 6% to £1 billion.
Torstar Corporation announced that, at its special meeting of shareholders held today, shareholders of Torstar voted to approve the previously announced plan of arrangement involving NordStar Capital LP pursuant to Section 182 of the Business Corporations Act. Pursuant to the Arrangement, NordStar will, among other things, acquire all of the issued and outstanding Class A shares and Class B non-voting shares of Torstar at a price of $0.74 per Share.
Walgreens Boots Alliance is pleased to announce that it has joined the United Nations Global Compact Initiative, a voluntary leadership platform for the development, implementation and disclosure of responsible business practices. The UN Global Compact is a call to companies everywhere to align their operations and strategies with ten universally accepted principles in the areas of human rights, labor, environment and anti-corruption, and to take action in support of UN goals and issues embodied in the Sustainable Development Goals (SDGs). “We are proud to join the UN Global Compact, reinforcing our long-term commitment to taking responsible business action to create the world we all want,” said Ornella Barra, co-chief operating officer of WBA and chair of the company’s CSR Committee. “Our Corporate Social Responsibility (CSR) strategy is aligned to the SDGs through four key areas: Healthy Communities, Healthy Planet, Sustainable Marketplace and Healthy and Inclusive Workplace.”
John Wiley & Sons Inc., and CPI Group, the largest book printer in Europe, announced a partnership bringing together a total supply chain solution including demand planning, print and distribution, customer service, and credit collection. The partnership will establish a state-of-the-art inkjet print production facility within Wiley’s European Distribution Centre (EDC) in Bognor Regis, United Kingdom. “We have a fantastic relationship with CPI and are thrilled to partner with them on this exciting project,” said Cary Hamill, VP of Global Supply Chain and Strategic Sourcing for Wiley. “We believe our collective expertise will provide an innovative solution to publishers for their print, inventory management and distribution needs - whilst continuing to provide our customers and clients with an even better level of service.”
As brands compete for consumer attention, 81 percent of shoppers have tried something new because the package caught their eye. Appearance or aesthetics of the package has led to 63 percent of shoppers repurchasing a product, and 52 percent have completely switched brands based on new packaging, according to Westrock. Bottom line, the look and feel of packaging are primary drivers that influence a customer’s purchasing decision in the aisle. It’s a powerful enabler that meets consumers’ need for a personalized brand experience. One of the key ways to create that experience is the use of finishing technologies. Amcor’s AmPlify™ finishing technologies for packaging is a portfolio of solutions designed to create engagement opportunities through more intense experiences with packaging elements that embody a product’s flavor, texture and scent.
Sales of $4.6 billion in the second quarter of 2020 increased slightly compared to the year-ago period. Changes in foreign currency exchange rates reduced sales approximately 4 percent, while organic sales increased 4 percent. Volumes increased 2 percent and changes in net selling prices and product mix each improved 1 percent. In North America, organic sales increased 12 percent in consumer products but fell 3 percent in K-C Professional. Outside North America, organic sales rose 3 percent in developed markets but fell 3 percent in developing and emerging markets, driven by Latin America. Second quarter operating profit was $925 million in 2020 and $670 million in 2019. Results in both periods include charges related to the 2018 Global Restructuring Program. Second quarter adjusted operating profit was $1,012 million in 2020 and $789 million in 2019. Results benefited from organic sales growth, $120 million of cost savings from the company's FORCE (Focused On Reducing Costs Everywhere) program and $55 million of cost savings from the 2018 Global Restructuring Program. Input costs decreased $80 million, driven by pulp, while other manufacturing costs rose year-on-year. Advertising spending increased and general and administrative costs were also higher compared to the prior year. Foreign currency translation effects reduced operating profit by $15 million and transaction effects also negatively impacted the comparison.
Looks like the long, good read continues. Dennis Publishing just announced subscription rates across all titles have increased by 9% overall during the lockdown and ongoing pandemic. “Since the beginning of lockdown the number of people subscribing to all Dennis titles has increased by 9%,” notes this article on the publisher’s website. “To ensure an uninterrupted service of their favourite magazines, all titles have offered free digital access to subscribers throughout the pandemic, which has been met with glowing reviews by readers. The team didn’t rest on their laurels though, instead implementing engagement campaigns to get new subscribers to the titles, with huge success.” The company decided early on to unlock free digital access to all subscribers, to ensure the mail delays wouldn’t cause readers to lose interest. At the same, they implemented new engagement campaigns to reach new subscribers … with great success.
Until recently, packaging optimization was largely overlooked as brands and retailers scrambled to keep up with exploding e-commerce demand and customer expectations for faster deliveries. Now, packaging has become one of the highest priorities for many e-commerce providers. End consumers have made their voices heard and have demanded that providers focus on waste and recyclability of the e-commerce packages they receive. Providers are challenged with addressing often conflicting sustainability objectives to gain the approval of internal and external stakeholders. click read more below for details
American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index increased 8.7% in June after falling 1% in May. In June, the index equaled 115.3 (2015=100) compared with 106.1 in May. May’s drop was unrevised at -1% from our June 23 press release. Compared with June 2019, the SA index contracted 1.3%, the third straight year-over-year decline, but the smallest over that period. Year-to-date, compared with the same period in 2019, tonnage is down 2.4%.
DS Smith Tecnicarton has designed and manufactured a new packaging for the metallurgical sector in four-wave laminated cardboard, especially suitable for heavy bulks in the sector, whether they are positioned or extendable parts. It is a unique packaging that is extremely resistant and able to adapt to the needs of the product and its transport conditions. In addition, the possibility of customizing the measures, allows to adapt it to the European regulations, as well as to the maritime platforms or to the measures stipulated by the client. Another of its main advantages is that its folding system allows a single piece to function as both a bottom and a body and to be assembled in a single movement. This innovation introduces significant cost savings in the assembly process, as time is significantly reduced; it facilitates stacking and allows for a significant reduction in storage space.
In order to better serve it’s growing customer base ePac Flexible Packaging, the leader in fast time to market custom printed finished pouches and roll stock, has announced an expansion in operations to serve its rapidly growing customer base. Throughout 2020 ePac has been adding new manufacturing facilities in North America, expanded internationally, and added printing and finishing equipment to its existing operations. These expansion projects will continue to run through the balance of 2020 and into 2021. With its core mission to serve locally based small and medium-sized brands, the additional capacity will drive down lead times while enabling the company to also handle longer run length jobs.
Net income for the first six months of 2020 was $135.8 million, as compared to net income of $77.7 million, for the first six months of 2019. Net sales for the first six months of 2020 increased $86.5 million, or 4.1 percent, to $2.21 billion as compared to $2.12 billion for the first six months of 2019. This increase was primarily a result of higher volumes in each of the businesses, including the impact from acquisitions, and a more favorable mix of products sold in the closures business, partially offset by the pass through of lower raw material costs across all businesses, a less favorable mix of products sold in the metal and plastic container businesses and the impact of unfavorable foreign currency translation.
The American Forest & Paper Association released its 2020 Sustainability Report, highlighting the paper and wood products industry’s sustainability efforts, including members’ progress toward achieving the Better Practices, Better Planet 2020 sustainability goals. 2020 AF&PA Sustainability Report accomplishments (based on 2018 calendar year performance, except where noted) include: • AF&PA member companies achieved a 38.4 percent improvement in the safety incidence rate from the 2006 baseline, surpassing the 25 percent goal. • AF&PA members adhere to sustainable fiber procurement principles, which assure that wood is sourced from suppliers who are committed to sustainable management and harvesting practices. • AF&PA members’ purchased energy use per ton of product was 13.3 percent lower than the baseline year, surpassing the goal to improve energy efficiency by 10 percent. • Members surpassed their goal, reducing GHG emissions – measured in carbon dioxide equivalents (CO2eq) per ton of product – by 23.2 percent from the 2005 baseline.
A scheduled maintenance outage is a critical part of any mill’s operation. The downtime gives employees an opportunity to complete necessary maintenance that isn’t possible during normal operations, and it ensures the mill continues to run safely and efficiently. It’s also important to the community. Vendors and contractors who travel to the site to assist with the outage support the local economy by staying in hotels, eating in restaurants and shopping at local businesses. Then the COVID-19 pandemic started, and Dryden Mill Manager Marie Cyr and her team had some tough decisions to make. With support from Domtar’s corporate leadership, the team decided to proceed with the maintenance outage, but it designed a reduced work scope that focused only on tasks deemed essential for the mill’s safe and efficient operation. More work would be performed by mill employees, reducing the need for outside service providers by 80 percent. In addition, the majority of the 100 outside providers who were required would come from within Northwestern Ontario, eliminating the need for travel from outside the region. The change in scope also meant the outage would take 21 days instead of 9 days.
Earlier this month, a crew of Alberta Junior Forest Rangers (JFR) made a big contribution to forest health while learning about one of the most challenging jobs in our industry—tree planting. The Fox Creek JFR crew, composed of eight high school students and two leaders, spent a day planting 2000 pine seedlings at the Huestis Demonstration Forest. The tree planting was guided by one of Millar Western’s Woodlands summer interns, Garreth Carey, who is studying Forest Technology at NAIT. Located within Millar Western’s Forest Management Agreement area, the Huestis Demonstration Forest is a few minutes’ drive northwest of Whitecourt. The site includes a seven-kilometre driving loop with interpretive signs, informing visitors about how a forest can offer recreational opportunities, sustain wildlife, and provide resources for wood products, all while continuing to grow and thrive. Huestis is a working forest, containing cutblocks of varying ages that have been successfully reforested in decades past or are currently being regenerated after recent harvest.
Meredith Corporation announced that it has begun making Traditional Home available for home delivery via the Meredith Magazine Store, beginning with the Fall/Winter 2020 issue. The quarterly continues to be available at newsstands with a $12.99 cover price. "We're thrilled to provide annual and biannual subscriptions to readers of this beloved home brand," said Doug Olson, President, Meredith Magazines. "Offering consumers home delivery is a logical next step based on the overwhelmingly positive response of readers and the success of Cooking Light and Coastal Living's pivot to Meredith's consumer-driven model. It's a profitable and innovative way for us to deliver our desired print brands like Traditional Home to our passionate and loyal readers." An annual subscription costs $20 for four issues. The brand, which includes growing interior design-enthusiast followings on Facebook and Instagram, is directed by Editor In Chief Jill Waage, based in Des Moines, Iowa.
Ulta Beauty, Inc. shared further updates to its operations as it continues to navigate the impact of COVID-19. Ulta Beauty has completed its phased reopening process. To meet individual comfort levels, guests can shop via Curbside Pickup, Buy Online Pickup in Store, on ulta.com, via the Ulta Beauty app and in Ulta Beauty stores. In addition to our Shop Safe Standards, starting today Ulta Beauty will require all guests and associates to wear facial coverings when in stores. As different parts of the country manage rising COVID-19 cases, the Company will maintain its close monitoring of government and health guidance as well as local case prevalence to inform nimble actions where necessary. Mirroring its thoughtful reopening approach, the Company began welcoming back furloughed employees consistent with individual store operational needs. To date, approximately 50% of those furloughed in April have been reactivated.
Q2/2020 (compared with Q2/2019) *Sales decreased by 18.9% to EUR 2 114 (2 608) million, due to lower deliveries and prices, as a result of the impact of the Covid-19 pandemic. *Operational EBIT decreased to EUR 178 (299) million. The impact of lower sales was partly offset by good cost management. *Operational EBIT margin was 8.4% (11.5%). *Operating profit (IFRS) was EUR 226 (142) million. *Strong liquidity at EUR 2.1 billion, including cash and committed credit facilities and good access to funding sources. *Operational ROCE was 6.8% (11.8%), below the strategic target of over 13%.
Q2 2020 Highlights *Net Sales were $1,611.0 million versus $1,552.8 million in the prior year period. *Net Income was $52.1 million versus $63.8 million in the prior year period. *Net organic sales increased 1.5% in Q2 and 3% in the first half of 2020 versus the prior year periods. *Continue to operate safely and effectively; investing in multiple protocols focused on the well-being of employees and serving customers globally. *Successfully closed the 70,000 ton White Pigeon, Michigan Coated Recycled Board (CRB) mill and shut down the 120,000 ton West Monroe, Louisiana PM1 containerboard machine. *Repurchased $38.0 million in common shares during the quarter; delivered $64.9 million to stakeholders in share repurchases, dividends and partnership distributions.
In June UPM announced plans to permanently close its Jyväskylä plywood mill. The employee consultation processes regarding the plan have now been completed. UPM Jyväskylä plywood mill will be permanently closed on 31.07.2020. The reduction of personnel is 147 people. The planned actions will strengthen UPM Plywood’s overall competitiveness and performance in the long run. UPM will recognise restructuring charges of approximately EUR 22 million as items affecting comparability in its Q2 2020 results. The planned actions would result in annual savings of approximately EUR 11 million.
Bloomsbury announces its trading update for the four months ended 30 June 2020, ahead of the Company’s Annual General Meeting at 12.00pm today. Bloomsbury experienced strong trading for the first four months of its financial year, ahead of the Board’s expectations, with year-on-year sales growth of 18% during a period of unprecedented disruption caused by the coronavirus pandemic. Our revenue and earnings are weighted towards the second-half, with sales of trade titles rising for Christmas and sales of academic titles being strongest at the beginning of the academic year in the Autumn.
Torstar Corporation announced that the Torstar board of directors has determined to continue to recommend the proposed acquisition by NordStar Capital LP of all of the issued and outstanding Class A shares and Class B non-voting shares of Torstar by way of a statutory plan of arrangement at a price of $0.74 per Share. On July 11, 2020, Torstar announced that it had entered into an amendment to the arrangement agreement dated May 26, 2020 between Torstar and NordStar to provide for the increased purchase price, which constitutes an increase of 17.5% from the $0.63 per Share payable under the original NordStar Agreement.
PEFC International meets all Dutch procurement criteria for timber. This is the conclusion of the Dutch Timber Procurement Assessment Committee (TPAC), that gave full marks to PEFC International. TPAC assesses certification systems for compliance with the sustainable procurement policy of the Dutch government. Following the assessment, TPAC has recommended the Dutch State Secretary for Infrastructure and the Environment to continue the approval and acceptance of PEFC with regards to the Dutch procurement policy.
Pro Carton has launched new home-schooling intiative, EduCarton. The educational resources assist parents and carers of children in lockdown to teach them about the environment and the benefits of cartonboard. All materials are FREE to download. There are a range of materials to explore, including; Crafts, worksheets and colouring: A range of printable activities for children, with many themed around “Carton Campaigners”. Find out more about the intiative at: https://www.procarton.com/publications-news/educarton-home-schooling-initiative/
Mactac® Distributor Products announces its latest innovation in indoor floor graphics, IMAGin® M-Dot Floor. A ‘print and stick’ indoor floor graphic material, IMAGin M-Dot Floor (MD128FW54L82) is extremely easy to print and apply. It consists of a 7.9-mil matte white PVC film that is directly printable with latex, UV and solvent-based inkjet printing methods, requires no lamination, and is coated on one side with Mactac’s specially formulated semi-sphere structured clear removable pressure-sensitive adhesive. It is supplied with a 74# white Kraft release liner.
Mactac®, a leading supplier of pressure-sensitive papers and films, and ARMOR, a leader in the design and production of thermal transfer ribbons, are partnering to bring thinner, more sustainable thermal transfer solutions to the labeling industry. Both companies offer thermal transfer solutions that are designed to help reduce the labeling industry’s environmental impact, including Mactac’s Optiscan® thermal transfer products with BLOOM® hi.mpact™ liner and ARMOR’s inkanto® APR1 wax-resin thermal transfer ribbon. When Optiscan products (Optiscan V, Optiscan K and Optiscan 2C) with BLOOM hi.mpact and APR1 ribbon are used jointly as a comprehensive thermal transfer solution, printers, converters and end-users benefit. These innovative products help create a labeling industry with more sustainable solutions. By focusing on sustainable product development, both Mactac and ARMOR are helping ensure the labeling industry is making strides in reducing the impact on the environment.
R.R. Donnelley & Sons Company announced that it has unified its Content and Creative Services (CCS) and Global Outsourcing (GO) capabilities to expand and streamline offerings for clients. By aligning these capabilities, the Company will be able to better address client needs through a single, centralized global resource platform for creative communications, managed services, transaction processing, and intelligent digital solutions. “Now, more than ever, companies are in need of compelling content creation, coupled with technology-enabled solutions for their creative communications that empower content production at scale,” said Kiran Shankar, President, RRD GO CreativeTM. “We created this new integrated platform in response to an ongoing need articulated by our clients and that we are seeing in the broader market — that is, to provide a seamless high-velocity content services offering, supported by a best-in-class tech stack.”
Heidelberger Druckmaschinen AG (Heidelberg) has set up a dedicated business unit for the industrial development, manufacture, and sale of printed and organic electronics. The company has also started production at its Wiesloch-Walldorf site, investing some five million euros in a complete production line for printed sensors. Sensors developed at InnovationLab (iL) in Heidelberg for use in dental technology are set to be printed first. These innovative printed sensors make it possible, for the first time ever, to digitally record the distribution of masticatory pressure during occlusion, that is to say when the upper and lower jaws come together. 3D visualization on a tablet and data archiving enable malocclusions to be identified and subsequently corrected. Looking further ahead, Heidelberg is to use state-of-the-art printing technology at its high-tech campus to produce sensors for other digital applications – in particular in healthcare and logistics, and also in the retail and automotive sectors.
Dune Packaging Ltd has partnered with Mondi to grow its market share by offering more complex, multicolour designs on its open mouth paper bag packaging. Working with Mondi, Dune Packaging is now using Mondi's Advantage Kraft White Print paper to produce high quality packaging for consumer food produce including flour, maize and grain. The current market norm in East Africa is two-colour flexo printing thereby limiting the "shelf appeal" for consumers. By investing in improved machinery as well as upgrading the bleached kraft paper they use has enabled Dune Packaging to supply bags of even higher quality and value to their growing customer base.
Sappi Europe is very happy to report that its Alfeld site PM 3 is operational again as of the 20th of July, significantly ahead of the planned restart date. As previously reported the largest area of reconstruction focused on the machine hall with limited damage to the machine. The repair work was carried out by an excellent team of internal and external workers and our thanks go out to them for their efficiency and most importantly for their safe and pragmatic approach. Our teams at our Carmignano mill are also to be thanked for offering a back up solution which was quickly put in place while our repairs were conducted.
JANUARY 1 – JUNE 30, 2020 (compared with January 1 – June 30, 2019): *Net sales declined 8% to SEK 9,480m (10,304). The lower sales were mainly related to lower selling prices. *EBITDA amounted to SEK 2,031m (2,900), a decrease primarily due to lower selling prices *Operating cash flow was SEK 614m, (1,245). Earnings for the second quarter of 2020 were in line with the preceding quarter, but declined year on year.
Canon U.S.A. Inc., a leader in digital imaging solutions, is pleased to announce the launch of the new Canon ProStream 1800 continuous feed inkjet printer, the newest model in Canon’s ProStream 1000 series. With increased speeds of up to 436 ft/min, the new printer boasts one of the highest resolutions and print quality of any digital printing press at that speed, making it the ideal solution for commercial printers who want to achieve ultimate performance. Supporting customers’ passion for print, the new ProStream 1800 has been designed to push the boundaries of commercial print to meet changing customer demands. Combining new inkjet innovations with proven offset printing techniques, the press strikes a unique balance between high productivity, superior print quality, flexibility, and media versatility.
David Ritchie has been named CEO of Bonnier Corp., it was announced today by Jens Mueffelmann, Executive Chairman of Bonnier Corp. His appointment is effective August 1. Ritchie is succeeding Eric Zinczenko, who will be departing the company. “David’s track record and deep understanding of all facets of the company as former COO and CCO make him the right choice to lead Bonnier Corp. into the future,” Mueffelmann said. “What impressed me working with David in the past couple of months was his true passion for our brands, paired with a strong business acumen and a structured and hands-on approach to execution. These qualities will be critical to us in this pivotal time as we conclude efforts on mergers and acquisitions opportunities for our media properties, transform and restructure operations, and execute a clear go-forward plan for our nonmedia activities. On behalf of the Board of Directors, I wish Eric the very best and thank him for his 14 years of service at Bonnier.
Barnes & Noble CEO James Daunt began his tenure with a baptism by fire. He took over the role in September and made some tweaks to B&N’s holiday merchandising and a few personnel changes. He was expecting to make more extensive changes early this year. But then Covid-19 forced B&N to close all but 24 stores to in-person shopping. By early July, all but one store had been reopened, Daunt told PW. The company is following all local mandates, including limiting the number of customers in each store at a given time, establishing social distancing protocols, and creating designated areas where customers can leave books they have touched but decided not to buy (those books are then sanitized before being returned to shelves).
Total Packaging Papers & Specialty Packaging shipments in June increased four percent compared to June 2019. They were up two percent when compared to the same six months of 2019. The operating rate was 86.8 percent, essentially flat (-0.1 pts.) from June 2019 and down 1.2 points year-to-date. Mill inventories at the end of June decreased 5,000 short tons from the previous month and were up 17,000 short tons compared to June 2019.
Total Containerboard production in June increased one percent compared to June 2019. It was up five percent when compared to the same six months of 2019. June 2020 production of containerboard for export increased five percent compared to the same month last year; it was up 34 percent year-to-date. The containerboard operating rate was 90.1 percent, up 1.8 points from June 2019 and up 3.9 points year-to-date. Mill inventories of containerboard at the end of June decreased 4,000 short tons from the previous month and were up 48,000 short tons compared to June 2019.
Our Sawmills Division has recently completed a $4.9 million investment at the Kedgwick Sawmill. The modernization has meant work for nearly 60 contractors from other small communities from Bathurst to Edmundston. "This modernization will make our mill more efficient; processing the same logs and achieving more lumber and improved quality for our customers. Continued investment is what helps sustain over 100 good paying jobs in the community," says Jean-Sebastien Roy, Mill Manager at the Kedgwick Sawmill. The additional production by the new sawline will allow us to increase the volume of Premium Lumber, which is produced for North America's leading home improvement stores. Wood chips that are a by-product of the sawmill go to New Brunswick pulp and paper mills to help make paper and tissue products.
It's the most responsive marketing channel. It reaches people at home and makes them feel good. Direct Mail still delivers. Learn how direct mail is driving results and how to apply it to your everyday marketing strategies through direct mail retargeting. see great information at: https://www.navistone.com/blog/direct-mail-still-delivers
Amazon and We Mean Business, a global nonprofit coalition working with businesses to accelerate the transition to a zero-carbon economy, announced they have partnered to establish the world’s most comprehensive effort to drive companies to adopt more ambitious carbon emissions reduction goals. The We Mean Business coalition works with over 1,200 companies, with a total market capitalization of more than $24.8 trillion, to drive business action and policy ambition on climate change and increase chances of limiting global warming to 1.5°C. The partnership will: *Encourage companies to take a leadership position and accelerate their goals to meet The Climate Pledge — the commitment co-founded by Amazon and Global Optimism to achieve net-zero carbon by 2040, a decade ahead of the Paris Agreement. *Mobilize supply chains, including small and medium enterprises (SMEs), to take and scale-up measurable and direct action on climate change. *Determine ambitious and accountable means for companies to credibly integrate Nature-Based Solutions in their climate strategies.
InnerWorkings, Inc. and HH Global Group Limited announced that they have signed a definitive agreement to combine operations. Under the terms of the agreement, HH Global will acquire InnerWorkings for $3.00 per share in an all-cash transaction representing approximately $177 million in equity value. This represents a premium of 127% to the closing price, and a premium of 104% to the 90-day volume weighted average price as of July 15, 2020. The transaction has been unanimously approved by the Boards of Directors of both companies. “Over the past several months, we’ve been taking actions to put InnerWorkings in the best position to weather the challenging environment in which we’re operating,” said Rich Stoddart, Chief Executive Officer of InnerWorkings. “In these times of significant economic uncertainty, the Board of Directors and management determined to undertake a comprehensive process to preserve and enhance value for shareholders. After exploring a range of financing and strategic alternatives, and implementing meaningful cost saving measures in response to the COVID-19 pandemic, we’re confident this combination represents the best path forward for our shareholders and InnerWorkings. In addition to delivering an immediate cash premium to our shareholders, the combination will create a company with a stronger balance sheet and will enhance our ability to accelerate our transformation and serve our client base.”
R.R. Donnelley & Sons Company introduced a holistic supply chain solution for the production, kitting, and fulfillment of point-of-care and at-home diagnostic test kits. The solution builds upon RRD’s significant experience, processes and systems to address the increased need for end-to-end test kit production. To address this evolving and critical demand, RRD created a diagnostic test kit offering — an end-to-end supply chain solution that integrates and accelerates all stages of test kit production from ideation, development and production to fulfillment and supply chain management. The process also incorporates creative design, packaging and label production, and scalable execution on a global footprint. Given RRD’s existing supply chain solutions and regulatory-compliant facilities, the new solution addresses common industry challenges such as compliance, cost, and speed to market.
Total Boxboard production in June decreased one percent compared to June 2019. It was down one percent when compared to the same six months of 2019. The boxboard operating rate was 93 percent, up 1.1 points from June 2019 and up 0.9 points year-to-date Solid Bleached Boxboard production in June remained essentially flat (-0.4 percent) compared to June 2019. It was down three percent when compared to the same six months of 2019. Recycled Boxboard production in June decreased five percent compared to June 2019. It was down zero percent when compared to the same six months of 2019. Unbleached Kraft & Gypsum production in June increased four percent compared to June 2019. It was essentially flat (+0.4 percent) when compared to the same six months of 2019.
According to the report, total printing-writing paper shipments decreased 25 percent in June compared to June 2019. U.S. purchases of total printing-writing papers decreased 25 percent in June compared to the same month last year. Total printing-writing paper inventory levels decreased six percent when compared to May 2020. U.S. purchases of uncoated free sheet (UFS) papers in June decreased 28 percent compared to last June while the inventory level decreased eight percent compared to May 2020. UFS imports and exports both decreased compared to May 2019, down 26 percent and 44 percent respectively. Coated free sheet (CFS) paper shipments decreased 13 percent compared to June 2019 while the inventory level decreased two percent compared to May 2020. CFS imports increased two percent while exports decreased 42 percent in May 2020. click read more for additional statistics
Appvion Operations, Inc., launches an industry leading antimicrobial coating technology for a variety of substrates called SafeShield™! SafeShield technology prevents the replication of DNA and new cell formation! Independent lab tests demonstrate up to 99.99% reduction in non-pathogenic bacteria on the paper’s surface even after printing and post processing. To ensure the efficacy of SafeShield, the antimicrobial coating is formulated with components that have gone through the United States Environmental Protection Agency (EPA) review and registration processes.
Net sales for the second quarter declined by 2% to SEK 6 156 million (6 293). Higher sales volumes were primarily offset by significantly lower sales prices compared to last year in Division Paper. Net sales for the quarter were positively impacted by currency effects by 1%. Adjusted EBITDA increased to SEK 774 million (539), mainly as a result of lower maintenance costs compared with last year, lower fibre costs, reduced KM7 start-up impact and cost savings.
Heinzel Group is a member of the “4evergreen” alliance, which strives to increase the share of fiber-based packaging in order to sustainably reduce the impact on climate and the environment. In addition, the alliance aims to increase knowledge and raise awareness of the advantages of fiber-based materials in society. Among other things, the initiative advocates the development of optimized collection systems and appropriate recycling infrastructures. Members of the “4evergeen” alliance are represented throughout the entire fiber-based packaging value chain: paper, board and packaging producers, technology and material suppliers, waste sorting and collection companies, and retailers.
Holmen signed an agreement to acquire Martinsons, one of Sweden's leading players in sawn and processed wood products. The purchase price is SEK 1.0 billion for 100 per cent of the shares. The acquisition will almost double Holmen's sales of wood products to over SEK 3 billion, while also advancing positions in wood construction and providing Holmen with the capacity to process the majority of the raw material from its own forests in its own industry. Martinsons consists of two well-invested sawmills in northern Sweden with extensive processing of wood products for Scandinavian wood construction, as well as a project operation for construction of complete frames made of cross-laminated timber (CLT) and glulam beams for purposes such as offices, sports centres and apartment buildings. The company has 470 employees, most of whom work in processing.
Rayonier Advanced Materials Inc. announced preliminary second quarter results which were impacted by COVID-19 market-related conditions. The Company expects earnings and Adjusted EBITDA for the quarter to be slightly below prior year, driven by an approximately 12 percent decline in revenues. Compared to the prior year period, results for the second quarter were aided by improvements in Forest Products and Paperboard segments driven by increased prices for lumber and lower raw material costs for paperboard, respectively. These benefits were offset by COVID-related impact on: 1) global demand for High Yield Pulp and Newsprint; 2) sales volumes in High Purity Cellulose due to softer demand in textile, automotive and construction end markets; and 3) logistics delays impacting High Purity Cellulose volumes. Corporate costs increased modestly from prior year, primarily due to an increase in non-cash charges. With a focus on working capital and capital expenditures, liquidity improved $19 million in the quarter to $164 million, including $49 million of cash.
National Average Price for Regular Unleaded Current: $2.200; Month Ago: $2.105; Year Ago: $2.793. National Average Price for Diesel Current: $2.438; Month Ago: $2.423; Year Ago: $3.010.
American Dollar to Canadian Dollar = 0.736670; American Dollar to Chinese Yuan = 0.142898; American Dollar to Euro = 1.142584; American Dollar to Japanese Yen = 0.009329; American Dollar to Mexican Peso = 0.044550.
Office Depot announced a new collaboration with Canva, the world’s fastest growing design platform. Canva’s high-impact, professional and visually-appealing graphic design solutions paired with the high-quality printing services offered on officedepot.com are now available to help small business customers keep business going during this pivotal time. “Whether small businesses are preparing to open their doors or never shut down, we’re here to help them accomplish more as they restore operations, restock their office and reconnect with their customers,” said John Gannfors, executive vice president and chief merchandising and supply chain officer for Office Depot. “The addition of Canva’s easy-to-use graphic design functionality enables our small business customers to easily build their brand with eye-catching print marketing materials that can help them keep business going.”
Worzalla, an employee-owned company specializing in printing high-quality children’s books, movie tie-in books and coffee table books, announced that two associates had been elected to its Board of Directors. Mary Przybylski was elected to a three-year term and Megan Meyer was elected to a 1-year term. Przybylski joined Worzalla in 1992 and currently works as a Lead Customer Service Representative. Throughout her career at Worzalla, she has held numerous roles with the Finishing, Prep, and Customer Service departments. She had just finished serving a 1-year term on the Board of Directors after previously serving as an interim board member. Meyer joined Worzalla in 2016 and also holds the role Lead Customer Service Representative. After graduating from the University of Wisconsin – Stevens Point in 2009, Meyer worked with Sentry Insurance in various roles in commercial claims. Since joining Worzalla, Meyer has been promoted rapidly through different customer service roles and now takes lead managing several customer accounts.
Kansas City, MO-based Richardson Communications Group, a leading printer in the Midwest for nearly a century, has been acquired by Kingston Printing, Eudora, KS, which recently celebrated its 30th anniversary as a premier, independent commercial printer. Graphic Arts Advisors, LLC (GAA), Mountain Lakes, NJ, a strategic financial advisory and consulting firm devoted exclusively to all sectors of the graphic communications industry, represented Richardson in the transaction. GAA Director Michael Wurst served as lead advisor on the engagement, with Mark Hahn, GAA Senior Managing Director, providing support. John Hyde, Esq., GAA Managing Director, is advising Richardson on the post-sale wind-down and creditor settlement negotiations. Combining Richardson’s customer relationships and capabilities with Kingston’s operations creates a full-service, robust company offering clients a broad spectrum of printing and marketing services. With similarities in terms of 2019 sales volume ($5.2 million for Richardson and $6 million for Kingston) and number of employees (Richardson with 35 and Kingston with 36), the two firms had different areas of specialty and equipment.
When we first think of brand campaigns, what immediately comes to mind are all the greats. You know the ones. Got Milk. Just Do It. But there have been some great B2B campaigns, too. Remember Staples’ That Was Easy? So simple it was brilliant. It tied Staples directly to the solution, and everyone from CEOs to summer interns had one on their desk. B2B marketers can and should consider campaigns as powerful tools in their arsenal. If done well, they build brand awareness; they can galvanize all your marketing channels around a specific hook, idea and goal; and provide the steady drumbeat of a consistent message to the right audience. To that end, the building blocks of a successful B2B campaign follow the same tenets as a B2C campaign. But there are some considerations to keep in mind when developing a campaign for a business audience. learn more at: https://www.jschmid.com/blog/campaign-building-blocks-b2b-success/
O-I Glass, Inc. announced it has entered into a definitive agreement to sell its Australia and New Zealand (ANZ) business unit to Visy Industries (Visy), one of the world’s largest privately owned packaging and resource recovery companies. Gross proceeds on the sale and related sale-leaseback agreement with Charter Hall, a leading property management company, will approximate AUD $947 million. “The sale of our ANZ operations is consistent with our strategy to properly align our business with the interests of our global customer base, improve financial flexibility and maximize shareholder value. O-I will continue to develop its leading market positions across Europe and the Americas as well as the company’s interests in Asia. The sale of ANZ follows an in-depth strategic review of our global business portfolio and operating structure which is now substantially complete following this transaction. We received a full and fair price for ANZ, and this sale represents a significant milestone in our business transformation as we optimize our structure and prioritize debt reduction,” said Andres Lopez, CEO.
UPM will permanently cease production at its Chapelle newsprint mill in Grand-Couronne, France today. The consultation process with employee representatives was completed on June 15th, 2020 according to French legislation and approved by French authorities on July 15th, 2020. The closure impacts 228 people. UPM offers support to employees in order to alleviate the effects caused by staff reductions in relation to the closing of the mill. With the closure of the mill UPM will reduce a total of 240.000 tonnes of its newsprint paper capacity.
J. C. Penney Company, Inc. announced that it is aligning its workforce with its store optimization strategy and reduced store footprint. JCPenney has identified 152 store closures following a comprehensive evaluation of store performance and strategic fit for the Company and is having ongoing productive negotiations with landlords. The announcement follows a lengthy, structured, and thoughtful decision-making process. In connection with this organizational realignment, the Company will reduce its workforce by approximately 1,000 corporate, field management, and international positions. This organizational restructuring will create a smaller, more financially flexible company, and will help ensure JCPenney emerges from both Chapter 11 and the Coronavirus (COVID-19) pandemic as an even stronger retailer.
Coyote Logistics, a leading global third-party logistics (3PL) provider, expanded its Dynamic Route Optimization program that aims to streamline supply chain operations and reduce uncertainty for carriers by maximizing the efficiency of their fleets and delivering load consistency through optimized weekly routing plans. Dynamic Route Optimization builds suggested weekly route plans that optimally direct drivers to and from their domicile location by taking numerous parameters into account, including drivers’ hours provided by the carrier, load attributes, average load and unload times, market cost, mile per hour bands by region, home base city, among others and layering them over Coyote’s open and available loads.
Two Sides are excited to announce its newest member, the Marketing Agency, Edit, part of the Kin and Carta plc. Edit are a bunch of talented data scientists, media experts, and technology architects who create marketing that matters by obsessing about less. They provide print media to their clients around the world, with a focus on accurately targeting the right audience, with the right message, at the right time. “Edit is delighted to become a member. We look forward to working with Two Sides to promote the sustainable story of print media and enhance our own sustainability story,” says Head of Media Solutions, Sarah Burns.
Visy/Pratt Industries Exec chmn Anthony Pratt is leading a recycling resurgence. His US company Pratt Industries was the fifth largest US boxmaker in 2019 with a 7% market share and an estimated 27.5 billion ft2 of shipments. The US boxes are made mostly out of lowcost mixed paper. His five containerboard mills with 1.91 million tons/yr of 100% recycled content containerboard capacity are nearly fully integrated to 70 Pratt corrugated plants, including 30 sheet plants. Pratt US last year generated more than $3 billion in sales and $550 million in EBITDA, in a year of record-low mixed paper pricing at a negative-$2/ton average and containerboard prices an estimated 175-200% more than the firm’s production cost.
Smurfit Kappa has unveiled a new, state-of-the-art solar panel system in its Colombian Forestry operation. The Solar One photovoltaic system, which was developed with renewable energy provider Celsia, will generate 50% of the energy needs of the nursery and the entomology and plant pathology laboratories. The 168 panels that comprise the system will generate an estimated 78,000 kWh/year reducing CO2 emissions by 29.7 tonnes annually. The new system has been installed in an optimum location in the forestry nursery to maximise exposure to the hours of sunshine available.
Net sales for the second quarter of 2020 were $1.25 billion, down 8.4 percent from last year's second quarter sales of $1.36 billion. The sales decline was driven by lower volume/mix, a stronger U.S. dollar and lower selling prices. These negative impacts were partially offset by increased sales from acquisitions. GAAP net income attributable to Sonoco in the second quarter was $55.2 million, compared with $81.2 million. Second-quarter GAAP earnings included net after-tax non-base charges totaling $24.9 million, $16.7 million of which were related to operational restructuring activities primarily related to capacity reductions in the Company's North America paper mill network. Gross profit was $248.0 million in the second quarter compared to $275.3 million in the same period in 2019.
The convenience of online shopping is shifting a larger share of the retail marketplace to e-commerce. In 2019, e-commerce was 16.4 percent of total retail sales globally. But recent indicators show a strong rise in e-commerce that will lead to busier fulfillment centers. For example, Sally Beauty saw a 555 percent increase in its U.S. digital growth in the third quarter of 2020 compared to last year, and 163 percent growth in its European arm in the same time period. By 2023, e-commerce will amount to 22 percent of global retail sales. This jump in online purchasing will lead to big changes for fulfillment centers, particularly as consumers purchase a larger variety of items from the comfort of their homes. The future of e-commerce holds an increase in perishable purchases online, demand for rapid fulfillment, a need for more warehouse space, and more direct-to-consumer brands creating a memorable unboxing experience. As a result, fulfillment centers will need to find ways to package more orders and ship them out faster. click read more below for much more info
Clearwater Paper Corporation introduced ReMagine™, a folding carton paperboard brand with up to 30 percent post-consumer recycled fiber. Inspired by circular economy principles, ReMagine provides high definition print capability and superior converting performance. The new folding carton brand is now available to the company’s customers. ReMagine is distinct, offering up to 30 percent post-consumer recycled fiber that is Food and Drug Administration compliant for all types of food contact. This new brand of solid bleached sulphate (SBS) provides an optimized balance of post-consumer recycled fiber and renewable virgin fiber, converting speed, and high definition print capability. The brand also offers Forest Stewardship Council® FSC-C008402 chain of custody certification.
Mondi, has partnered with Austrian meat producer Hütthaler to produce a fully recyclable thermoforming film made from a mono-material for their meat and sausage products. The film is made of a mono-material solution that can be fully recycled and provides a barrier to protect the food and extend its shelf life. The independent cyclos-HTP Institute for Recyclability and Product Responsibility has awarded this film the highest classification "AAA" for recyclability. Hütthaler's requirement was to replace the previously used film with a recyclable solution. The company was looking for a more sustainable approach that would not compromise on quality or the attractive presentation of the food.
Norske Skog’s EBITDA in the second quarter of 2020 was NOK 138 million, a decrease from NOK 379 million in the first quarter of 2020, mainly due to national restrictions on movement of goods and people following the outbreak of the corona pandemic. The restrictions had severe negative impact on operations due to a sudden and considerable drop in demand for publication paper. Operating earnings in the second quarter of 2020 were NOK -122 million compared to operating earnings of NOK 90 million in the first quarter of 2020 impacted by impairment recognized in the quarter. Net loss in the quarter was NOK 59 million compared to a net loss of NOK 374 million in the previous quarter. The previous quarter was impacted by unrealised currency loss that was only partially reversed in the second quarter as NOK was stronger at the quarter end. Cash flow from operations was NOK -109 million in the quarter compared to NOK 470 million in the previous quarter.
A Sappi-sponsored programme which helps communities adjacent to forestry plantations to become beekeepers, has shown some unexpectedly encouraging results during the time of the COVID-19 pandemic. Non-profit consultant and founder of the African Honey Bee programme, Guy Stubbs, who has more than 30 years’ experience in small and micro-enterprise development, was struck by the incredible resilience being demonstrated by the families that have been part of this beekeeping project. Collectively, since the beginning of the year, the participating families have harvested about five tonnes of honey, earning close to R360,000, despite the national lockdown. During a recent survey undertaken in the Sokhulu community in KwaZulu-Natal (North of Richards Bay), where the project has been running for the last couple of years and a new community in Thembalethu, Mpumalanga where training had not yet begun, Guy noticed some marked differences in people’s approach to the situation brought about by the international health crisis. “While the families in Thembalethu were watching TV and waiting for government to hand out food parcels, the 100 families that we interviewed in Sokhulu were producing and even selling vegetables, chickens, eggs and honey,” he says. All 100 families were producing honey, 85 were growing vegetables, 27 were producing eggs and 39 were producing chickens for meat,” he says.
In 2011, Resolute made an ambitious commitment: to reduce our greenhouse gas (GHG) emissions (scope 1 and 2) by 65% by 2015, compared to 2000 levels. Thanks to significant efforts deployed across our operations, we reached our goal ahead of schedule. But we didn’t stop there – at the end of 2019, we reached a new high of 83%. That’s the equivalent of taking over 2 million cars off the road! Resolute continues to seek opportunities to reduce emissions and increase efficiencies. In 2019, in addition to achieving a 65% reduction in indirect emissions (scope 2) at our Coosa Pines (Alabama) pulp mill through the modernization of the cogeneration turbine, we increased operational stability and made improvements to the power boiler at our Saint-Félicien (Quebec) pulp mill; optimized the electrical power boilers at our Alma and Kénogami (Quebec) paper mills; improved control of combustion on the boiler at our Baie-Comeau (Quebec) newsprint mill; and completed the optimization project at our Thunder Bay (Ontario) pulp and paper mill for a 20% reduction in direct emissions (scope 1).
Global online spending rose 28% in June compared to the year-ago period, making it the largest year-over-year increase in sales since COVID-19 restrictions were put in place in March, according to an analysis by ACI Worldwide of hundreds of millions of e-commerce transactions from global merchants. In the U.S., online spending rose 25% in June, which was steady with May’s increase. The report also showed a continued increase (117%) in athletic, footwear and sporting goods sales. Outdoor equipment was among the most popular purchase categories with an increase of 10% in June. In the U.S., consumer purchases were driven largely by apparel, as well as a continued demand for online games.
In response to the COVID-19 crisis that has left many Canadians struggling to provide basic necessities for their families, Gap (Canada) Inc. will be donating more than $3 million of new Gap, Banana Republic and Old Navy (Canada) clothing to those in need, including unemployed Canadians who need support getting back to work and getting back on their feet. In partnership with Delivering Good – a non-profit organization that unites retailers, manufacturers, foundations and individuals to support those affected by poverty and tragedy – Gap (Canada) Inc. will donate the clothing to LIFE*SPIN in London, Ontario. This donation will help people as they build a brighter future and is the latest in the company’s ongoing efforts to support its communities and be the change, together.
Join PhillyDMA on Wednesday, July 29th for “Innovative Direct Mail: How to Drive Open Rates with Compelling Envelopes!" The PhillyDMA is proud to host Jim King - VP of Sales, Strategic Accounts at Cenveo - to discuss the latest envelope treatments used to increase package opening rates. Direct marketers who want to drive response will not want to miss out on the educational content and the lively networking! We will see you there. Tickets: $5.00 PDMA Member $10.00 Non-PDMA Member register at: https://phillydma.starchapter.com/meet-reg1.php?id=5
Only a few weeks after start-up, the 5.6 m wide PrimeLineTM W6 tissue machine that was delivered by ANDRITZ to Arkhbum Tissue Group LLC in Vorsino (Kaluga region), Russia, reached a speed of 2,000 m/min with a grammage of 16 g/m² and is now producing high-quality facial, toilet, napkin, and kitchen towel grades made of 100% virgin pulp (bleached hardwood and softwood pulp). Irina Galakhova, Chairman of the Board of Directors, Arkhbum Tissue Group LLC, says: “We are extremely satisfied with our products – and so are our customers. We appreciate the high quality and softness. In addition, we achieve remarkable cost savings compared to systems with conventional presses and Yankees.”
As people grow weary of online entertainment and digital communication in the age of COVID-19, industry analysts have noticed some interesting paper trends, particularly when it comes to books, education, entertainment and communication. There’s no question that the coronavirus pandemic has changed many things about our daily lives, from the way we work and learn to the way we shop and play. The buying and consuming habits that have emerged over the past several months will keep sociologists and scientists busy for years as they study the effect of isolation on modern human behavior. But as the novelty of working and learning from home wears off, only to be replaced by digital overload and Zoom fatigue, people have started turning off their electronics and embracing analog alternatives, if only for a few hours at a time. The resulting paper trends have created some bright spots for our industry. click read more below for details...
Lead2030 was launched by One Young World, the global forum for young leaders, in November 2018 to support youth-led innovation to contribute to the United Nations’ Sustainable Development Goals (SDGs). This year’s winning project comes from Genecis Bioindustries, a Canadian-based start-up, which makes compostable plastic from food waste. Genecis has been awarded $50,000 from Mondi as well as 12 months of corporate mentorship focused on business development, marketing/communications support as well as technical mentorship on the potential market applications of PHA polymers in packaging.
Matt Spence, Vice-President Biomaterials at Sappi Biotech explains: “Valida is a highly fibrillated cellulose manufactured by Sappi. Derived from woodfibre, it is a 100% natural, biodegradable and sustainable material. Valida can successfully perform as an opacifier and thickener in sanitising gels, providing a natural alternative for acrylate-based polymers while providing some unique additional benefits, including: *replacing microplastics with a natural ingredient *sustainable and biodegradable *moisturising the skin *imparting a superior skin feel *unique texture *having passed cosmetics ingredient safety studies covering: - skin irritation - skin sensitisation - skin blockage, and - skin penetration.
Headquartered in Mexico City, Mexico, Poliquímicos is a leading producer and supplier of specialized chemical solutions for water-intensive industries, including the pulp and paper markets in Mexico. The business will be integrated into Solenis as part of its direct-to-market strategy. “The acquisition of Poliquímicos will enhance Solenis’ direct sales channel in the Mexican market and improve our production capabilities in the region,” said John Panichella, CEO, Solenis. “With more than 46 years of history in Mexico, we are thrilled to welcome the Poliquímicos team and are excited to provide them with the full suite of Solenis products to better serve our customers.”
Office Depot announced that it is providing $1.5 million to Feeding America®, the largest domestic hunger-relief organization in the country, in support of its COVID-19 Response Fund to help local food banks across the country distribute more than 1.3 billion pounds of food to communities in need. “We are proud to support the Feeding America network of food banks as it works tirelessly to address the increased demand for food assistance resulting from the COVID-19 pandemic,” said Gerry Smith, chief executive officer for Office Depot and The ODP Corporation. “Now more than ever, we are committed to strengthening local communities and hope that this donation will help to provide relief for families that are struggling to put food on the table.”
The Association of American Publishers released its StatShot report for May 2020 reflecting reported revenue for all tracked categories, including Trade (consumer publications), K-12 Instructional Materials, Higher Education Course Materials, Professional Publishing, and University Presses. Total revenues across all categories for May 2020 were approximately $1.0 billion, a decline of 12.1% as compared to May 2019. Year-to-date sales were $4.3 billion, a decline of 4.5% as compared to the same period last year. Trade sales were down 7.9% year-over-year. Religious press revenues were up 7.0% year-over-year in May. Professional Books, including business, medical, law, technical and scientific, declined 3.7% for the month. University Presses declined 5.4% as compared to May of 2019.
Right in time for the back-to-school shopping season, Walmart is strengthening our sustainable sourcing requirements for products that contain paper and pulp (excluding wood pencils) sold in Stationery departments across our U.S. stores. Walmart requires these products be made from either recycled material, virgin fiber certified to standards of the Forest Stewardship Council (FSC), Sustainable Forestry Initiative (SFI) or Programme for the Endorsement of Forest Certification (PEFC), or a mix of recycled and certified virgin fiber. With this step, we are extending our sourcing approach for paper products in Stationery departments across our U.S. stores to include both private and national brands. That means customers can expect the same commitment to sustainability across all the brands available in Stationery departments of our U.S. stores.
The trucking industry generated $791.7 billion in revenue in 2019, moving 11.84 billion tons of freight, according to the latest edition of American Trucking Associations’ annual data compendium – ATA American Trucking Trends 2020. “Despite a challenging year, the data contained in American Trucking Trends shows the industry was in good shape entering the global pandemic,” said ATA Chief Economist Bob Costello. “Trends continues to be an indispensable, one-stop resource for decision makers to have the latest information about the state of the trucking industry.”
The American Forest & Paper Association released new industry guidance that aims to clear up consumer confusion regarding the recyclability of pizza boxes. The guidance resulted from a study conducted by WestRock – an AF&PA member company – that found the presence of grease and cheese at levels typically found on pizza boxes does not impact manufacturing in a negative way. “Corrugated pizza boxes are successfully recycled every day at paper mills throughout the country, yet consumers remain confused by mixed messages suggesting that some boxes should not be put in the recycle bin,” said AF&PA President and CEO Heidi Brock. “So, let’s be clear: pizza boxes are recyclable. Consumers should not be concerned about grease or cheese – simply remove any leftover pizza and place the box in the recycle bin. We encourage communities to update their residential recycling programs guidelines to explicitly accept pizza boxes that are free of food.”
The Hood Container paper mill in West Feliciana Parish is undergoing a $50 million upgrade to boost its efficiency and capacity. The project is expected to support 75 construction jobs but not add new permanent jobs to the mill's 306 existing employees, company, state and local officials announced Thursday. The mill has a $23 million annual payroll. The announcement was made by Wayne Morgan, senior vice president of Hood Container of Louisiana LLC, and Gov. John Bel Edwards.
Meredith Corporation's PARENTS magazine's August "Raise a Reader" issue, available now, debuts its first-ever list of 100 Books to Inspire Your Kids covering a wide range of titles to help turn children of all ages into readers. To create the list, PARENTS asked celebrated authors to share the book that opened their or their children's eyes to the joy of reading. The issue's cover story features NBC's TODAY co-host Jenna Bush Hager, who shares how literacy has touched her life. Other features include tips on how to Raise a Child Who Loves to Read and the announcement of Raising the Future Book Club that will launch August 7. The Raising the Future Book Club launches with its first selection, Antiracist Baby by Ibram X. Kendi, Ph.D., who will lead a discussion of the book on PARENTS' Instagram on August 7 at 3:00 P.M.(ET). For details, visit http://parents.com/bookclub.
In what is perhaps the biggest surprise in publishing since the Covid-19 pandemic sent the U.S. economy into turmoil this spring, print unit sales saw a 2.8% increase in the first half of 2020, over the comparable period in 2019, at outlets that report to NPD BookScan. The number of copies sold was 322.1 million in the six-month period, up from 313.5 million in the first half of 2019. The increase was led by a combination of children’s nonfiction books aimed at helping parents educate and entertain their children following the closing of most schools in March, as well as a spike in sales of books on race relations and social justice following the killing of George Floyd by members of the Minneapolis police department in late May.
McClatchy announced that the auction held as a part of its court-supervised sale process has concluded with Chatham Asset Management deemed the successful bid. Under terms of the proposed agreement, which will be finalized and filed with the U.S. Bankruptcy Court in the coming days, McClatchy will transition out of Chapter 11 as it entered it: in its totality, as one company serving 30 communities across America through its iconic local news titles, from the Miami Herald and The Charlotte Observer to The (Raleigh) News & Observer, The Kansas City Star, Fort Worth Star-Telegram and The Sacramento Bee.
California Attorney General Xavier Becerra has already sent warning notices to online companies over alleged violations of the state's new privacy law, a state official said Thursday. Companies that receive the notices will have 30 days to come into compliance, or risk lawsuits by the state. The California Consumer Privacy Act gives state residents the right to learn what information has been collected about them by companies, have that information deleted, and prevent the sale of that data to third parties. The measure went into effect in January, but wasn't enforceable until July 1.
Torstar Corporationannounced that it has entered into an amendment to the arrangement agreement dated May 26, 2020 between Torstar and NordStar Capital LP, pursuant to which NordStar has agreed to acquire all of the issued and outstanding Class A shares and Class B non-voting shares of Torstar (the “Shares”) by way of a statutory plan of arrangement at an increased price of $0.74 per Share. The amended purchase price constitutes an increase of 17.5% from the $0.63 per Share payable under the original NordStar Agreement. The amendment to the NordStar Agreement results from discussions with NordStar following Torstar’s receipt of an unsolicited offer from a private investor group, pursuant to which such group proposed to acquire all of the issued and outstanding Shares for a combination of $0.72 per Share in cash and the issuance of one non-transferable contingent value right per Share, with payments (if any) on such right being based on proceeds of dispositions of, and distributions from, select Torstar non-core assets in certain circumstances following issuance.
Intertape Polymer Group Inc. announced its preliminary estimated revenue for the three months ended June 30, 2020. The Company estimates that its revenue is approximately $267 million for the three months ended June 30, 2020, compared to the outlook range communicated on May 13, 2020 of $235 million to $250 million. With the outperformance of revenue, management also expects adjusted EBITDA(1) to be greater than the top end of the outlook range of $34 million that the Company communicated on May 13, 2020 as well.
Mondi has commissioned a crude tall oil plant (CTO-plant) at its Syktyvkar pulp and paper mill. The new equipment allows processing of all sulphate soap generated as a by-product of the pulp production process in the mill. As a result of this investment, the mill will be able to produce up to around 40,000 tonnes of crude tall oil annually. The new CTO-plant produces softwood and hardwood tall oil obtained through sulphuric acid treatment of sulphate soap which is a by-product of the pulp cooking process. Softwood tall oil is used at Mondi Syktyvkar to mitigate pitch deposits at the digesters, while hardwood tall oil is sold to external companies dealing in petrochemical, road construction, paint and coating. In recent years, tall oil has been intensively used for biodiesel fuel production primarily in Scandinavian countries.
W+D North America Inc. announces the installation of a “solo tending” 410 Easy Enveloper with MSP in Freedom, PA. The W+D 410 Easy Enveloper offers a reduced manpower solution for running direct mail and transaction letter mail sizes up to 500 envelopes per minute while simultaneously reducing paper waste with its “drier chain run out” capability. The 410 Easy Enveloper’s built-in “Expert On-Line Help” service offers immediate troubleshooting without the need for outside technical support/service visits. According to Doug Wright, Chief Operating Officer of MSP, “the 410 Easy Enveloper has allowed us to optimize our internal web printing process with faster ‘time-to-mailbox’ solutions as we can literally go from web printing to envelope converting to inserting without losing a beat.
Sappi announces the closure of Paper Machine 2 at its Stockstadt Mill in Germany as well as Paper Machine 9 and the energy complex at its Westbrook Mill in the USA. Following an exhaustive consultation process an agreement was reached with mill employee representatives to permanently close PM2, which has a Coated Woodfree paper production capacity of 240 000 tons per annum. Stockstadt will now focus on its strong and growing uncoated woodfree offering. Approximately 170 employees will leave the company with production expected to cease on 30 September 2020. After a period of review, Sappi North America has decided to permanently shut PM9 and the majority of the energy complex at its Westbrook Mill in the State of Maine. Approximately 75 employees will be impacted. The impacted assets are expected to close by end of calendar year 2020.
Sur La Table is slashing its store footprint as it seeks to prosper under new ownership. The nearly 50-year-old, upscale kitchenware retailer said it filed for Chapter 11 bankruptcy protection after considering the "rationalization of its national store footprint and “certain store closures to prosper in the current retail environment.” On its FAQ page, the privately held Sur La Table said it has decided to close over 50 of its 121 stores (see list at end of article). Great American Group LLC and Tiger Capital Group LLC will conduct the liquidation sales, which are expected to last eight to 12 weeks. “We have filed for Chapter 11 bankruptcy protection to reduce the company’s expenses and recover from the financial impact of the COVID-19 crisis,” the company stated on its FAQ page.
Barnes & Noble Inc. announced that booksellers from across the U.S. selected ten titles as the Best Books of 2020 (So Far), including books that address our current moment, share lessons from the past, and bring memorable characters—both real and imagined—to life. “Our passionate bookselling team has undertaken the distinct challenge of narrowing down our favorite books from the first half of 2020 into a short list of ten diverse and thought-provoking titles. The result is a unique range that includes the informative and historical, to electrifying new novels and even a heartwarming children’s tale about a dog, a gorilla, and an elephant,” Jackie De Leo, Vice President, Bookstore, Barnes & Noble. “I am really impressed with our booksellers’ selections, and I am pleased to recommend these titles to our customers.”
Citing industry shifts as well as disruptions in the publishing supply chain caused by the Covid-19 pandemic, Ingram Content Group said it is investing millions of dollars in an upgrade to its global printing and distribution network. In the U.S., Ingram said it is investing “millions of dollars” to increase capacity in its print-on-demand manufacturing plants located in Allentown, Pa., Jackson, Tenn., and La Vergne, Tenn. New printing, binding, trimming, and shipping/sortation equipment will be installed now through October, which the company said will increase U.S. capacity “by double-digit percentages,” adding that it expects to “hire hundreds of new associates in these facilities.”
Torstar Corporation confirmed that it has received a non-binding unsolicited offer from a private investor group, pursuant to which the New Offeror has offered to acquire all of the issued and outstanding Class A shares and Class B non-voting shares of Torstar. The Torstar board of directors has determined that the New Offer may reasonably be expected to constitute or lead to a “Superior Proposal” under the arrangement agreement dated May 26, 2020 entered into between Torstar and NordStar Capital LP, and is engaging in discussions and negotiations with the New Offeror regarding its non-binding proposal.
Fiscal 2020 third quarter net loss attributable to WBA was $1.7 billion compared with net earnings of $1.0 billion the same quarter a year ago. Net loss per share1 was $1.95 compared with net earnings per share (EPS) of $1.13 the same quarter a year ago. The results reflect $2 billion in non-cash impairment charges related to goodwill and intangible assets in Boots UK reflecting deteriorated business conditions including the adverse impact of COVID-19 and resulting future uncertainty. Sales in the third quarter were $34.6 billion, an increase of 0.1 percent from the year-ago quarter, and an increase of 1.2 percent on a constant currency basis, as the pandemic sharply curtailed footfall in retail pharmacies. The company had an operating loss of $1.6 billion in the third quarter, compared to operating income of $1.2 billion in the same quarter a year ago, primarily due to impairment charges in Boots UK of $2 billion.
Intertape Polymer Group Inc. published its 2019 annual sustainability report, titled “We Package, We Protect & We Sustain”. The report provides an overview of the Company’s sustainability progress in 2019 and highlights IPG's sustainability opportunities in the years ahead. The report was prepared with reference to certain Global Reporting Initiative (“GRI”) standards with details provided in the index section of the report. “Sustainability is a core pillar of our long-term strategy and we believe it is a key component to meeting the needs of our stakeholders as well as the growth of our business,” said Greg Yull, President and CEO of IPG. “While this year’s report is published as society is dealing with the impact of the COVID-19 pandemic, our approach to sustainability is a long-term initiative that requires consistent and continuous support. In fact, the ingrained culture of health and safety within our daily operations at the plant level underpinned our ability to maintain ongoing operations in the face of the pandemic.”
The American Meteorological Society (AMS) has chosen to streamline and optimize its journal production workflow by partnering exclusively with Sheridan for all stages between accepted manuscripts and online hosting. Sheridan’s unique offering integrates production and online hosting, eliminating the traditional hand-off between the composition vendor and a third party online hosting platform to further accelerate the publishing process. The new 5-year agreement between AMS and Sheridan, beginning in 2021, adds automated XML composition, web-based author proofing, and a fully integrated online hosting platform to the long-standing production and print services provided by Sheridan.
R.R. Donnelley & Sons Company introduced a retail solution that streamlines the process of creating in-store promotional materials, while reducing production time and labor costs. Through its work for 52 of the National Retail Federation’s top 100 retailers, RRD found that many retailers still rely on manual processes for creating their visual merchandising materials for floor displays, aisle end caps, window signage, and more. This entails everything from creating the design of materials and converting files from one format to another, to proofing and editing – tasks which are all time and labor intensive. To solve these challenges, which are particularly acute in today’s environment, RRD developed Variable Content Automation for Retail. This new offering enables companies to create tailored-to-location marketing kits while cutting the project cycle from as many as 15 steps down to as few as four.
TC Transcontinental Packaging is proud to announce the launch of a new website section on sustainability and flexible packaging. The section is available at www.tc.tc/packaging/sustainability and is accessible through desktop and mobile. The content has been updated to share with clients and consumers the benefits of flexible packaging, including its positive impact for the environment. It is modern, engaging and full of resources. From TC Transcontinental’s 2025 commitment to a 10-step journey to create sustainable packaging, the new website section sets out what brands and CPG’s need to consider to help them achieve their sustainability objectives.
American Forest & Paper Association (AF&PA) President and CEO Heidi Brock issued the following statement regarding the Environmental Protection Agency’s (EPA) Boiler Maximum Achievable Control Technology (MACT) proposed rule: “AF&PA is pleased the EPA has moved forward in proposing an achievable Boiler Maximum Achievable Control Technology (MACT) rule. This is the result of more than two decades of work that gives the forest products industry regulatory certainty while encouraging the use of renewable, carbon-neutral fuel. “While limits for several boiler types have become more stringent, we believe they are feasible and affordable. Already, to date, our industry has invested $1 billion in controls to meet Boiler MACT obligations.
For the first time in 230 years, Britain has completed 67 days, 22 hours and 55 minutes without burning coal to generate electricity, due in part to our renewable wood pellets. The last time coal was burned at any of Britain's four coal-fired power stations was April 10, 2020, and began again on June 16, according to the National Grid, marking the longest period without deriving energy from the fossil fuel since 1790, the start of the Industrial Revolution. This coincides with the one year anniversary of Grand River Pellets. These pellets displace coal and other fossil fuels in power generation and heating and have played a role in achieving this historic environmental milestone in the UK. The pellets come from wood sourced from environmental certified forests owned or managed by Irving Woodlands.
How many trees are there on Earth? It sounds like an impossible question, but researchers at the Crowther Lab have come up with a number: 3.04 trillion – or roughly 422 trees per person. That may seem huge, but it is a far cry from what it used to be. Collecting data from over 400,000 forest plots worldwide, the Zurich-based ecological lab setup by British ecologist Tom Crowther estimated there are 46% fewer trees today than when human agriculture started 12,000 years ago, but humans could reset the dial and tackle the climate crisis through mass tree planting. According to Crowther’s report, planting one trillion trees globally could remove up to 200 billion tonnes of carbon over the next 50-100 years.
National Average Price for Regular Unleaded Current: $2.196; Month Ago: $2.071; Year Ago: $2.750. National Average Price for Diesel Current: $2.440; Month Ago: $2.418; Year Ago: $3.003.
American Dollar to Canadian Dollar = 0.735537; American Dollar to Chinese Yuan = 0.142820; American Dollar to Euro = 1.127950; American Dollar to Japanese Yen = 0.009362; American Dollar to Mexican Peso = 0.043974.
Crafting memorable creative that will compel and delight an audience is likely the most challenging task in the campaign process. Without a creative, brand-right theme, the campaign won’t get traction and meet objectives. That said, coordinating and executing the big idea is just as important. If the campaign isn’t organized and executed well the investment will be wasted. Here are the five essential steps for getting a marketing campaign off the ground: https://www.jschmid.com/blog/campaign-building-blocks-coordinate-your-campaign/
The Company is pleased to announce that all necessary conditions precedent required for the implementation of Recapitalisation have been obtained and it is expected that the Recapitalisation Effective Date will be 16 July 2020. The Company welcomes this positive development and is confident that following the Recapitalisation the Company will emerge with a solid liquidity position and healthy balance sheet. In particular, the Company considers that the Recapitalisation will significantly improve the Group’s liquidity profile, reduce the Group’s net leverage and increase the Group’s flexibility.
Bed Bath & Beyond plans to close about 200 stores during the next two years as it looks to return to profitability. The embattled home furnishings retailer, which operated a total of 1,478 stores as of May 30, announced the decision to “right-size” its real estate portfolio in reporting its first-quarter results. Bed Bath & Beyond said the closings, which will mostly affect its 955 namesake locations, and other cost restructurings should generate annual cost savings of between $250 million and $350 million, excluding related one-time costs. The company reported that its net loss narrowed to $302.29 million, or $2.44 per share, for the quarter ended May 30, from $371.09 million, or $2.91 a share, in the year-ago period. Sales tumbled 49% to $1.31 billion from $2.57 billion a year ago, as the retailer’s stores were temporarily shuttered for much of the quarter amid the COVID-19 pandemic.
Costco Wholesale Corporation reported net sales of $16.18 billion for the retail month of June, the five weeks ended July 5, 2020, an increase of 11.1 percent from $14.57 billion last year. For the forty-four weeks ended July 5, 2020, the Company reported net sales of $136.37 billion, an increase of 8.1 percent from $126.13 billion during the similar period last year.
Sonoco FRESH (Food Research Excellence for Safety and Health), a Sonoco and Clemson University initiative to develop new technologies and new forms of packaging to optimize the fresh food lifecycle, is pleased to host a series of events focused on innovations in packaging. With the theme of “Safe. Secure. Sustainable.,” the February 2021 Summit, hosted on the campus of Clemson University, will offer a unique opportunity to stimulate high impact discussions on how the issues associated with each part of the food value chain can be used as opportunities to drive business and benefit society. Attendees, industry and academic experts will participate in presentations, panels and roundtables to foster knowledge growth and solutions. Registration for the Summit will open in late summer 2020. In preparation of the Summit, Sonoco FRESH will host sneak peek webinars September 22-23, 2020.
PRINTING United Alliance, the largest and most comprehensive member-based printing and graphic arts association in the United States, today announces that the call for entries has opened for the annual Product of the Year Awards competition. The competition includes more than 85 categories spanning the printing industry and judging this year will take place over a new virtual event format. The deadline to submit entries online is September 8, 2020. This year, the coveted program features a streamlined entry site along with a new virtual gallery for displaying entries, which will be available at: poy.printingunited.com. The program is open to inkjet output devices as well as non-output products that are currently available for sale. Winning companies achieve worldwide recognition and the ability to market their product as a winner of this prominent contest during PRINTING United Month this October, further highlighting the transition of the previously scheduled show in Atlanta, now taking place digitally over four power-packed weeks of industry engagement.
Sugar pulp can be applied as a sustainable substitute for wood fibre to produce paper on an industrial scale. Crown Van Gelder recently signed a Letter of Intent with Cosun Beet Company for the joint development of innovative solutions for sustainable paper and packaging materials.
The International Council of Forest and Paper Associations (ICFPA) recently announced its biennial international Blue Sky Young Researchers Award contest to generate interest and raise awareness around innovations taking place in the world of forestry. The ICFPA is an international group representing twenty-eight countries from around the world that liaises with the United Nations Food and Agriculture Organization (UN FAO) on forest policy development and shares leading practices. It supports important dialogue across this global network to promote global forest policy commitments on sustainable forest management, recycling, innovation, water conservation, mitigating climate change, ensuring a safe and inclusive workplace, and optimizing the use of environmentally-friendly wood and paper-based products.
Mondi, a global leader in packaging and paper, is investing in its flexible packaging plants, in Aramil and Pereslavl in Russia, to provide customers with improved flexibility and a broader portfolio, including sustainable packaging solutions. To meet rising demand in Russia for sustainable packaging for the confectionary, food and dry and wet pet food markets, Mondi will broaden the range of competitive packaging solutions. The plant in Aramil will also install a nine-layer co-extrusion line to produce high-barrier films by the end of 2020. This updated product portfolio will offer a range from mono-materials to multi-layer high-barrier laminates, many of which already meet current sustainability criteria, such as recyclability.
To coincide with World Environment Day and South Africa’s Environment Month, on 04 June 2020, Sappi Limited committed to set science-based targets through the Science Based Targets initiative (SBTi). The SBTi is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Through heightening our focus and ambition on climate action, we look to increase our contribution to building a resilient, thriving world. Within the context of Sappi’s 2025 sustainability targets, we have established a global specific greenhouse gas (GHG) emissions target of 17% reduction in combined Scope 1 & 2 emissions under the United Nations Sustainable Development Goal (SDG) 13: Climate Action. By region this translates to a 2025 GHG reduction target of: • Europe: 25% reduction from FY19 baseline • South Africa: 20% reduction from FY19 baseline • North America: 5% reduction from FY19 baseline
Web accessibility lawsuits are occurring at an alarming pace. Understanding the legal and technical guidelines of what is mandated is often tricky and confusing. Although the ADA (Americans with Disability Act) laws don’t formally specify compliance with the Web Content Accessibility Guidelines (WCAG) set of technical standards, private business sites have to be accessible, and it’s well-accepted that compliance with WCAG is the best way to achieve that standard. Unfortunately, this growing trend in claims is also due in part to the significant complexity in implementing the WCAG guidelines. As a result, the painful reality is that the majority of sites do not meet these standards. Resolving issues manually or without technical expertise can be a struggle or even cause additional accessibility problems. Further complicating matters is that by its nature, ecommerce is driven by dynamic change, continually coming in from all directions. Often, the number of people contributing to the site increases the challenge to remain in compliance. In this environment, not having a plan to protect your business from these accessibility claims could leave merchants with significant legal exposure.
The Retail Industry Leaders Association on Tuesday sent a letter to the National Governors Association in which it urged every governor to require customers to wear a mask when entering a retail store or other enclosed public space. The letter encourages uniform, statewide orders “to create clarity for businesses, customers and law enforcement,” noting that different rules around the country have made it confusing for shoppers and often lead to arguments between customers and store employees who trying to enforce company policies.
We recognize it’s a crazy time but with everything happening in the world today, we wanted to make sure you are aware of the two upcoming USPS postal promotions. If you still haven’t read our blog post sharing the full scope of this year’s postal promotions, we highly encourage you to do so here: https://arandell.com/news-events/2020-postal-promotions-calendar-approved-by-usps/ . 2020 Mobile Shopping Postal Promotion (Registration: June 15 — December 31, 2020 | Effective: August 1 — December 31, 2020 | 2% of eligible postage); 2020 Informed Delivery Postal Promotion (Registration: July 15 — November 30, 2020 | Effective: September 1 — November 30, 2020 | 2% of eligible postage)
Xerox announced the Xerox Adaptive CMYK+ Kit for Xerox Versant®, the print market’s first adaptive technology kit that adds seven specialty colors to an existing production press, enabling instant digital print enhancements. The kit transforms a four-color Xerox Versant® 180 Press into an 11-color Beyond CMYK press capable of creating a million color hues and shades by adding gold, silver, white, clear and fluorescent colors of yellow, magenta and cyan. Digital enhancement of print is projected to be a $25 billion market¹, but access to that opportunity usually requires a capital investment in a new press with the ability to print Beyond CMYK. The Xerox Adaptive CMYK+ Kit for Versant gives print providers the ability to simply swap out toners to print colors and enhancements that increase profitability and deliver higher margins without needing a new press.
In our digital world, you can pay bills and bank online, sign online contracts with an e-signature and click to accept terms and conditions. In fact, you don’t need to use a written signature for most day-to-day transactions. But there are still plenty of situations where it’s legally required to put pen to paper, and often those legal documents require a seal from a notary public. “People appreciate the added security that a notarized piece of paper brings,” says Ginger Shore, senior funding sales officer and notary public at North Carolina State Employee’s Credit Union. “I find myself providing notary services every single day. It’s still a very necessary part of the business and legal world.” A notary public is an official appointed by the state government to serve as an impartial witness and fraud deterrent during the signing of important documents.
Kimberly-Clark has announced its new 2030 sustainability strategy and goals, aimed at addressing the social and environmental challenges of the next decade with commitments to improve the lives and wellbeing of one billion people in underserved communities around the world with the smallest environmental footprint. "These extraordinary times remind us why our purpose is more important than ever. Our values, that have guided us for nearly 150 years, will continue to shape our response to the challenges ahead," said Mike Hsu, Chairman and CEO, Kimberly-Clark. "I am inspired by our ambition to advance the well-being of one billion people around the world and proud of the significant environmental commitments that we are making to address the impact our products have on the environment." The ambitious strategy is outlined in the company's 2019 Global Sustainability Report, which reflects progress towards the company's Sustainability 2022 strategy and its pivot to 2030.
Genera, a US manufacturer of domestically sourced and produced ag-based pulp and molded fiber products, has named Timothy Watkins and Tyler Winston to two top engineering positions at the company's East Tennessee facility. The announcement marks continued progress toward full production of Genera's innovative Earthable® line of sustainable, ag-based fiber products later in 2020. Genera will manufacture molded fiber food service products like plates, bowls, and takeout containers. These products will be fully biodegradable and compostable.
Join us next Wednesday for our latest ‘In conversation with…’ webinar! We’ll be joined by Coen van der Veer from Building and Wood Worker's International (BWI) to discuss how forest certification improves the lives of the people living and working in the forest. The webinar is free to attend and takes place 15 July at 11:00-12:00 CEST. Do you know how many people worldwide are directly affected by forests? The formal forestry sector employs around 13 million people globally, while forests contribute to the livelihoods of some 1.6 billion people worldwide. The figures are impressive.
Global packaging leader Amcor today published results from its latest research into consumer perceptions of sustainability and packaging. The proprietary insights give Amcor and its customers a unique understanding of evolving preferences, including a willingness to pay more for differentiated products from top brands. Michael Zacka, Amcor’s chief commercial officer, said consumers are increasingly making buying decisions that factor in environmental considerations and expect brands to provide more responsible packaging options. The survey of more than 4,000 participants found differences in perception between countries, but that overall consumers are increasingly aware of the impact of their choices. Across the countries surveyed, 83% say they check on-pack instructions to know how to dispose of packaging.