World demand for paper and paperboard is forecast to grow to 482 million tons in 2030, but North America will experience shrinking demand, according to Pöyry Management Consulting. This equals an overall increase of 1.1% per year, with variations by grade. These are the conclusions of a global paper market study “World Paper Markets up to 2030” conducted by Pöyry. The management group also predicts a strong need for structural changes in the paper industry. “Especially in Western Europe we find an urgent need for further capacity reductions. After the markets in the emerging Asian regions have become more mature, the industry needs to take a more disciplined approach as to capacity expansions. Industry consolidation, acquisitions, mergers and alliances start making more sense there, too,” says Timo Suhonen from Pöyry Management Consulting.
We have had a lot of successes within Fortress, and one really bad investment,” Wasilenkoff told the newspaper. “Thurso has been a disaster.” The article notes that Fortress Paper stock has lost 97% of its value, dropping from a high of $62 several years ago. “Five years ago Mr. Wasilenkoff, a self-styled “contrarian” investor, convinced investors to buy the mill for $1.2 million and pour in $240 million to convert it from production of kraft paper to dissolving pulp, the raw material of rayon fibre,” reads the Financial Post article. “Then everything went wrong. Other mills converted to dissolving pulp. The price of dissolving pulp crashed to $800 a tonne. China slapped a 13% duty on imports from the Thurso mill.”
Sport Graphics, a commercial printer that specializes in sports-related printing for customers across the country, has produced a 267×165-foot sign that was mounted on the JW Marriott based here, showing this year’s NCAA men’s basketball tournament bracket. The massive graphic was produced on an EFI VUTEk HS100 Pro high-speed digital UV inkjet wide-format press (which makes a cameo in this video), and Sport Graphics will be updating the entire graphic throughout the NCAA tournament. The firm is also producing signage work nationally for this year’s NCAA basketball championship.
We are pleased and excited to announce today that Atlantic has signed a Purchase Agreement with Lakeland Paper Converting in Sturgis, Michigan. We are scheduled to close the transaction on March 31st. Lakeland is a long time industry friend who mirrors our Charlotte Converting facility selling primarily SBS board to the independent paper merchants in the Midwest, as we do in the Southeast. We are very similar in product offerings, customer markets, and family culture. Lakeland is a near perfect fit for combining with our newly acquired IP facility in Sturgis.
Fourth Quarter highlights: *Total revenues increased 3% to $705.3 million. Comparable company sales decreased 3% following an increase of 3% in the fourth quarter last year. Total e-commerce sales increased 4% to $247.8 million following an increase of 10% in the fourth quarter last year. *J.Crew sales decreased 0.1% to $620.7 million. J.Crew comparable sales decreased 5% following an increase of 3% in the fourth quarter last year. Madewell sales increased 33% to $73.7 million. Madewell comparable sales increased 14% following an increase of 10% in the fourth quarter last year. *Gross margin was 34.5% compared to 36.8% in the fourth quarter last year.
*Adobe achieved revenue of $1.11 billion, above the high end of the targeted range of $1.05 billion to $1.10 billion. *Adobe added 517 thousand net new Creative Cloud subscriptions in the quarter, which represents 28 percent year-over-year growth when compared to net new subscription additions in Q1 fiscal year 2014. *Creative Annualized Recurring Revenue (“ARR”) grew to $1.79 billion, and total Digital Media ARR grew to $2.09 billion. *Adobe Marketing Cloud revenue was $311 million.
Robert Glowinski, President and CEO, AWC: “We support clean air and realistic, science-based air quality standards. However, a further restriction is not justified because the health effects evidence for ozone has not changed significantly since EPA last tightened the ozone NAAQS in 2008. In fact, EPA just published the 2008 Ozone Implementation rule earlier this month, seven years after it set the new standard. So before EPA again changes the rules, the 2008 standard should first be fully implemented by the states and its impacts assessed before the goal posts are moved once more.” Donna Harman, President and CEO, AF&PA: “The costs of further tightening the standard are significant when there is such scientific uncertainty. EPA’s own cost benefit analysis would make the ozone rule one of the most expensive air regulations ever. The proposed revisions could place most of the country in nonattainment, putting five times more paper and wood product mills at risk.”
American Forest & Paper Association (AF&PA) President and CEO Donna Harman issued the following statement supporting bills introduced today by Sens. John Thune (R-S.D.) and Joe Manchin (D-W.Va.) and Reps. Pete Olson (R-Texas) and Bob Latta (R-Ohio) that would prohibit the U.S. Environmental Protection Agency (EPA) from tightening national ambient air quality standards for ozone until at least 85 percent of the counties in non-attainment meet the 2008 standard.
"When oil broke $110 a barrel, it broke economic reality. Consumers simply can't afford the gasoline that you net out from that price" said Stephen Schork , editor of the Schork Report. "This is the same thing in reverse. We've diverged from reality and reason." Schork says that in the short-term, $42.20 and $40 will serve as important levels but added that "all I can do is follow the momentum." "I can't tell you when oil has reached a bottom-and by the way, no one is going to be able to tell you," the analyst said.
“We had a very successful peak season as volumes grew across all transportation segments, and our profit improvement programs are moving ahead as scheduled,” said Frederick W. Smith, FedEx Corp. chairman, president and chief executive officer. “We believe our strategy is sound, our culture is unique, and our customers value our broad portfolio of business solutions.” FedEx Corp. reported the following consolidated results for the third quarter: *Revenue of $11.7 billion, up 4% from $11.3 billion the previous year *Operating income of $962 million, up 50% from $641 million last year