Sappi Speciality Papers today announced that it will be exhibiting at two important European packaging & label shows in the fall of this year. FachPack is scheduled to run from 29 September through 1 October in Nuremberg, Germany (Hall 4, Stand 4-111); while Labelexpo Europe will take place in Brussels, Belgium, from 29 September through 2 October (Stand 5E17). 2015 marks the debut for Sappi Speciality Papers as exhibitor at Labelexpo Europe. “We are quite excited about our presence at both fairs,” says Thomas Kratochwill, Director Sales & Marketing at Sappi Speciality Papers. “Our newly created Speciality Papers competence center at our Alfeld Mill has strengthened us to expand our market reach, bringing even more new and innovative products to market for both packaging and labels and work closer together with our customers providing meaningful and sustainable packaging solutions.”
First-quarter e-book sales were down 2.5% and 36.6% in the adult and children’s/young adult categories, respectively, according to figures in AAP’s StatShot program. With sales of hardcover and paperback also down, first quarter sales in the children’s/ya category fell 15.9%.
Norske Skog's gross operating earnings (EBITDA) in the second quarter of 2015 were NOK 138 million, down from 192 million in the first quarter. EBITDA were down due to weak publication paper demand in 2015 and industry focus on market share. Today, Norske Skog announces entry into two new growth areas alongside the publication paper business: bioenergy at our facilities and tissue production at Bruck. The net loss of NOK 571 million in the second quarter of 2015 was significantly impacted by negative other gains and losses amounting to NOK 276 million.
Atlantic Media’s National Journal will cease publishing its print edition at the end of the year, while simultaneously bolstering its online coverage of political and policy doings in Washington D.C. and across the country, Atlantic Media chairman David Bradley announced Thursday. The new strategy involves greater focus on its daily digital publications, including National Journal Daily, Hotline and NationalJournal.com. After printing a weekly news magazine covering politics for 46 years, National Journal’s last print edition will roll off the presses at the end of this year. Bradley explained the rationale behind closing the magazine in a memo to staff that later circulated online: “News in Washington now moves too quickly for a weekly publication.” Bradley added that, “likely, the best years of weekly print magazines are passed.”
Flint Group Narrow Web launches a UV varnish range for HP digital printed media. Mr. Guillaume Clement, Vice President Global Narrow Web of Flint Group states, “We are extremely pleased to globally launch the DigiCoat HP UV varnish range. We know from discussions with our converter base that UV varnishes to enhance digital printed substrates are significantly important to them. With the introduction of these innovative UV varnishes Flint Group takes a vital step into the digital print arena to address a critical aspect of the printing process.” Mr Clement concludes, “The great news is that we have developed three varnishes which give very good adhesion to un-corona treated digital print, as well as on corona treated digital print, which is of course the recommendation by HP. However, we know that not all printers have the ability to do this today thus our varnishes open up great new opportunities for the industry.”
National Average Price for Regular Unleaded: Current: $2.763 Month Ago: $2.802 Year Ago: $3.590 National Average Price for Diesel: Current: $2.808 Month Ago: $2.866 Year Ago: $3.874
American Dollar to Canadian Dollar = 0.770540 American Dollar to Chinese Yuan = 0.161038 American Dollar to Euro = 1.088905 American Dollar to Japanese Yen = 0.008065 American Dollar to Mexican Peso = 0.063274
Brent crude oil steadied on Friday in low trading volumes after sharp losses earlier in the week on expectations of increased exports from Iran adding to an already heavy supply glut. Brent crude was up 9 cents at $57.01 by 1120 GMT. Front-month U.S. crude futures were trading at $50.83 per barrel, down 8 cents from their last settlement. "With the Iran deal people are aware there is more supply coming so all impetus for a price correction higher has gone," said Hans van Cleef, senior energy economist at ABN Amro in Amsterdam.
Grainger (NYSE: GWW) today reported results for the 2015 second quarter ended June 30, 2015. Sales of $2.5 billion increased 1 percent versus $2.5 billion in the 2014 second quarter. There were 64 selling days in the quarter, the same as in 2014. Net earnings for the quarter increased 7 percent to $221 million versus $206 million in 2014. Earnings per share of $3.25 increased 11 percent versus $2.94 in 2014. Sales increased 1 percent in the 2015 second quarter versus the prior year, including 1 percentage point from acquisitions and a 3 percentage point reduction from foreign exchange. The company's gross profit margin for the quarter declined 0.5 percentage point versus the prior year to 42.6 percent, due primarily to faster growth with lower gross margin customers, lower supplier rebates tied to lower-than-expected volume and price deflation versus cost inflation driven by foreign exchange.
Sappi Fine Paper North America will temporarily lay off about 250 workers from its mill in Cloquet, Minn., on July 21, closing its paper-making operations for eight days to reduce inventory. In a statement, the company said the move will not affect its ability to supply paper to its customers. Dave Little, president of United Steelworkers Local 1163, which represents workers at the mill, said Sappi's inventory is high because of the strength of the dollar. That makes the U.S. market attractive to global competitors.