Newsprint manufacturers Resolute announced Thursday that they are idling their Augusta facility "indefinitely" due to the "ongoing significant decline" in print consumption across the United States. As a result, 160 jobs are in peril at the facility. Resolute says they've already had to idle the facility for several weeks already in 2019 and had been idled since early October.
Verso Corporation announced that Michael A. Weinhold has been named President of the company, reporting to Chief Executive Officer Adam St. John, effective immediately. Mr. Weinhold has been with Verso since 2006 and has held multiple senior leadership roles in sales, marketing and product development. Most recently he served as Verso's President of Graphic and Specialty Papers. Prior to joining Verso, Mr. Weinhold held management positions at International Paper, a global producer of fiber-based packaging, pulp and paper. "We firmly believe that Mr. Weinhold's leadership and business track record, coupled with his strong relationship with Verso CEO Adam St. John, will deliver significant benefits for our company, our customers and our stockholders," said Co-Chairman of the Board Gene Davis.
National Average Price for Regular Unleaded Current: $2.606; Month Ago: $2.642; Year Ago: $2.655. National Average Price for Diesel Current: $3.013; Month Ago: $2.998; Year Ago: $3.236.
American Dollar to Canadian Dollar = 0.755284; American Dollar to Chinese Yuan = 0.142675; American Dollar to Euro = 1.103382; American Dollar to Japanese Yen = 0.009198; American Dollar to Mexican Peso = 0.052010.
Mid America Display, the custom product display and signage division of St. Louis corrugated packaging provider Boxes, Inc., is expanding its leading-edge digital production packaging supply chain and display graphics operations with the purchase of a second ultra-high-speed EFI™ Nozomi C18000 single-pass inkjet, direct-to-board digital printer; EFI MarketDirect PackCentral software; and an EFI VUTEk® superwide-format printer from Electronics For Imaging, Inc. When the new single-pass solution is installed later this month, Mid America Display will be the first company in the world to operate two Nozomi C18000 printers in a single production facility. The company will unveil its second ultra-high-speed single-pass corrugated printer during a Dec. 4 open house event. The 71-inch wide, LED-inkjet Nozomi C18000 is a groundbreaking production device that has earned multiple industry awards for its high quality, efficiency and productivity. According to Mid America Display and Boxes, Inc. CEO Mike Patton, it brings greater digital capacity and redundancy to the company’s offerings, meeting growing demand across all market segments.
For the quarter ended Nov. 2, 2019, total net sales decreased 10.1 % to $2.38 billion compared to $2.65 billion for the quarter ended Nov. 3, 2018. Comparable store sales decreased 9.3 % for the quarter. Adjusted comparable store sales, which exclude the impact of the Company’s exit from major appliance and in-store furniture categories, decreased 6.6 % for the quarter. Credit income was $116 million for the third quarter this year compared to $80 million in the third quarter last year. Cost of goods sold was $1.54 billion, or 64.6 % of sales, in the third quarter this year compared to $1.81 billion, or 68.1 % of sales in the same period last year. For the third quarter, the Company’s net loss improved from a net loss of $151 million last year to a net loss of $93 million this year.
McClatchy’s daily newspapers will stop printing Saturday issues and move them to digital-only editions by the end of 2020. Last month, McClatchy announced Washington paper The News Tribune and The Olympian will cease publishing on Saturdays starting January 25, 2020. In place of a Saturday edition, The News Tribune and The Olympian will produce Weekend Editions that include expanded coverage on Friday and Sunday, with comics, puzzles and TV listings. The Fresno Bee and the Modesto Bee will stop printing Saturday editions starting January 11.
At our 24th General Assembly at the heart of this year’s PEFC Forest Certification Week, we welcomed our 52nd and 53rd national members. The General Assembly, our highest decision making body, voted Ukraine and Guyana into the alliance. “Ukraine is one of the largest countries in Europe, and 15.6% of land is covered by forests. That is 10.4 million hectares,” said Mariya Maha from the Association National Voluntary Forest Certification System, our new national member for Ukraine. Our second new member, the Guyana Forestry Commission (GFC), is leading the implementation of the Voluntary Partnership Agreement (VPA), a trade agreement between Guyana and the European Union. The collaboration between PEFC and local stakeholders in Guyana began in 2015, supported by the PEFC Collaboration Fund.
For the first time in its 81-year history, REI Co-op will open four new stores in a single day on November 15, bringing quality outdoor gear, experiences and expertise to Farmington, Utah; Huntsville, Alabama; Oklahoma City and Williston, Vermont. By the end of the year, REI will have opened a total of eight new stores, relocated two existing stores to larger locations, and opened three new boathouses in 2019. “Our business has never been just about selling stuff. Our bigger goal is to share our love of the outdoors and, in doing so, awaken that love in others,” said Tim Spangler, REI senior vice president of retail. “By continuing to grow in new communities and new regions of the country, we look forward to welcoming more people to the co-op and connecting them to the activities they love."
Smurfit Kappa has been awarded the prestigious “Order of San Carlos” medal from the Colombian Government for 75 years of dedication to the country. Smurfit Kappa Colombia has continuously invested in job creation, innovation and sustainability. The award was also recognition for Smurfit Kappa Colombia´s leadership in the development of renewable, recyclable and biodegradable packaging, as well as the work it has done to support and develop recycling infrastructure. The packaging leader also has a strong track record in corporate social responsibility which it runs through the Smurfit Kappa Colombia Foundation which was established in the 1960s and benefits more than 10,000 people in surrounding communities.