As it continues to battle UPS, FedEx and DHL for a larger slice of the ecommerce shipping pie, the U.S. Postal Service has put in a rate schedule request with the Postal Regulatory Commission that would keep its competitive Priority Mail rates unchanged for domestic delivery while raising the price of Parcel Select – the primary last-mile option of the major carriers – by an average of 8%.
Crude oil gained for the first time in four days as the dollar weakened and OPEC warned that prices may surge without new investment in production.
Sustainable Manufacturing Day is a day-long advocacy event in which industry representatives share with lawmakers details of the industry’s positive economic impact on Maryland and their commitment to sustainable manufacturing leadership under AF&PA’s Better Practices, Better Planet 2020 initiative. Joining AF&PA for an interactive luncheon are other associated industry partners, including the United Steelworkers and the Printing & Graphics Association of the MidAtlanic.
Eleventh-hour negotiations have succeeded in keeping about 350 to 400 Resolute Forest Product forestry workers in Thunder Bay and Ignace on the job.
International Paper (NYSE: IP) today reported full-year 2014 net earnings attributable to common shareholders totaling $555 million ($1.29 per share) compared with $1.4 billion ($3.11 per share) in full-year 2013.In the fourth quarter 2014, the Company reported net earnings of $134 million ($0.32 per share) compared with $436 million ($0.98 per share) in the fourth quarter of 2013. Fourth quarter 2014 earnings included a $0.40 per share non-cash foreign exchange charge as described below. Amounts in all periods include the impact of special items, non-operating pension expense and discontinued operations.
Potlatch Corporation (Nasdaq:PCH) today reported net income of $20.1 million, or $0.49 per diluted share, on revenues of $146.2 million for the quarter ended December 31, 2014. Excluding transaction-related expenses of $0.4 million and nonrecurring tax benefits of $1.9 million, fourth quarter 2014 earnings were $18.6 million, or $0.45 per diluted share. Net income was $13.7 million, or $0.34 per diluted share, on revenues of $140.0 million in the fourth quarter of 2013.
Courier Corporation (Nasdaq: CRRC), one of America’s leading innovators in book manufacturing, publishing and content management, announced today that it has received a non-binding, unsolicited proposal from R.R. Donnelley & Sons Company (Nasdaq: RRD) to acquire the Company for $23.00 per share in cash or RR Donnelley common stock, subject to proration in the event that shareholders elect to receive more than approximately 49% cash or more than approximately 51% stock. The RR Donnelley proposal is subject to, among other things, various closing conditions, Courier shareholder approval and regulatory approvals.
The market for sawn timber gradually deteriorated towards the end of 2014 and the uncertainty in the market remains. On account of the market situation, Södra is making a minor adjustment to the prices of its sawable softwood range. Conversely, the trend for sawn hardwood timber is positive and demand is favourable, thereby meaning that an upward adjustment can be made for birch and oak logs. The price of spruce and pine saw logs and small dimension softwood will be reduced by SEK 20 per cubic metre solid under bark (m³fub). The price of birch and oak logs will be raised by SEK 30 per cubic metre solid under bark (m³fub).
MORE, the magazine for women of style and substance created by Meredith Corporation (NYSE:MDP; www.meredith.com), unveils a redesigned look with a modern logo, updated layout, elevated photography and revamped editorial lineup in the February 2015 issue, on newsstands today. The magazine now has a more luxurious look and feel with a wider, higher-impact trim size, at 9" x 10-7/8", and upgraded gloss paper stock. Its first major redesign since 2010, the new MORE offers the latest beauty, fashion, home, travel, food, career, finance, health and relationship inspiration in a modern and fresh format that matches the sophistication of its readers. The issue will relaunch with a rate base of 750,000, reflecting the brand's focus on targeting its core luxury consumers, and a 50 percent increase in the subscription price to $15 per year.
Packaging segment EBITDA in the fourth quarter of 2014 was $239 million, and excluding special items, was $250 million with sales of $1.122 billion. For the year, EBITDA was $986 million, and excluding special items, was $1.015 billion with full year sales of $4.54 billion. PCA fourth quarter corrugated products shipments were up 5.4%, and including Boise, were up 11% compared to last year’s fourth quarter. Containerboard production was 927,000 tons, including 58,000 tons produced on the DeRidder No. 3 machine which started up on October 17, 2014. Paper segment EBITDA in the fourth quarter of 2014 was $45 million and sales were $284 million. For the year, EBITDA was $186 million and sales were $1.2 billion. Office paper shipments in the fourth quarter were down 6% compared to last year’s fourth quarter. Printing and converting and pressure sensitive paper shipments were down 12,500 tons as a result of the fourth quarter 2013 paper machine closures at the International Falls, Minnesota mill. Mill production was 287,000 tons.