Resolute Forest Products has reached a settlement in the legal case launched last May against third-party auditor The Rainforest Alliance. The lawsuit concerned draft audit reports for the Black Spruce Dog River Matawin Forests and Caribou Forest operations in Ontario, related to the Forest Stewardship Council (FSC) certification of these areas. Under the terms of the agreement, a new corrective action verification audit (CVA) will be conducted by a new independent Rainforest Alliance audit team for the Black Spruce Dog River Matawin Forests, located in northwest Ontario. The CVA audit will be completed within six months.
Fourth-quarter net sales for 2014 were $89.9 million, a decrease of approximately 1 percent compared to $91.1 million reported for the fourth quarter of 2013. On a full-year basis, net sales rose approximately 1 percent to $352.0 million compared to $348.6 million in 2013. Though case shipment volume in the fourth quarter of 2014 declined 2.9 percent over the prior-year fourth-quarter period, full-year case shipment growth of approximately 1.6 percent was achieved. Quarterly volume of strategic product case shipments grew approximately 1 percent over the prior year fourth quarter while shipments of support products declined approximately 7 percent. As a result, our mix of strategic products was approximately 50 percent of total towel and tissue case shipments in the fourth quarter of 2014. On a full-year basis, the mix of strategic products shipped improved more than 1.5 percent in 2014 over 2013.
Louisiana-Pacific Corporation (LP) (NYSE: LPX) reported today results for the fourth quarter and year ended December 31, 2014, which included the following: * Total sales for the fourth quarter of $454 million, 5 percent lower than the year ago quarter. Total sales for the year were $1.9 billion, 7 percent lower than the previous year. * Loss from continuing operations for the fourth quarter was $43 million ($0.30 per diluted share) and a loss of $73 million ($0.52 per diluted share) for the year. For the quarter ended December 31, 2014, LP reported net sales of $454 million, down from $480 million in the fourth quarter of 2013. For the fourth quarter, the company reported an operating loss of $49 million as compared to $22 million in 2013.
Södra reported an operating profit of SEK 1,516 million (loss: 417) for 2014. The strong results were due to positive market conditions, healthy prices for finished goods, a favourable currency situation and completed efficiency enhancements. The Board proposes to the Annual General Meeting that profits of SEK 553 million (281) be distributed to Södra's members. "2014 was a strong year for Södra and it feels satisfying to report operating profit that improved to SEK 1.9 billion. We are well positioned for continued investment in building an even stronger and more successful Södra," says CEO Lars Idermark.
Print is a responsible environmental choice and an important touchpoint of any marketing campaign. That was the key message the audience heard last Thursday during the annual Ryerson Colloquium organized by the students of the Graphic Communications Management program. Dubbed Revive, Breaking Sustainability Myths, this year’s event featured a panel that set about outlining and then busting some often-heard myths about the sustainability of printing and using trees. For instance Monika Patel, director of programs and communications at the Forest Stewardship Council, told the industry crowd that trees are a renewable resource that can be planted again, once cut down. And, while recycled paper is good, the world would run out of paper if we only used recycled fibres.
Smurfit Kappa Group today announced results for the 3 months and 12 months ending 31 December 2014. Fourth Quarter and Full Year Key Points * Pre-exceptional EPS growth of 42% * Progressively improving ROCE to 15% * Completion of over €160 million of acquisitions in 2014 in the US, Dominican Republic and Colombia * Resilient European corrugated volume up 2% year-on-year * Final dividend increased by 30% from 30.75 cent to 40.00 cent per share * Launch today of €250 million senior unsecured notes to reduce Senior Credit Facility
“Operating performance in the quarter was in line with expectations and the equivalent quarter last year. The group generated an EBITDA excluding special items of US$145 million, operating profit excluding special items of US$74 million and profit for the period of US$24 million. “The Specialised Cellulose business continued to generate good returns during the quarter, with EBITDA excluding special items of US$70 million. US Dollar prices for dissolving wood pulp remain under pressure in all market segments due to excess market supply as well as the weak margins in the viscose staple fibre sector. The decline in cotton and polyester prices and large cotton reserves are compounding the pricing pressures. The weaker Rand/Dollar exchange rate has enabled the South African mills to maintain Rand pricing, while good variable and fixed cost control across the business is helping to maintain margins.
Rite Aid (NYSE: RAD) and Envision Pharmaceutical Services ("EnvisionRx") today announced that they have entered into a definitive agreement under which Rite Aid will acquire EnvisionRx, a portfolio company of leading global private investment firm TPG, in a transaction valued at approximately $2 billion, which includes the value of an expected future tax benefit of $275 million. Under the terms of the agreement, which has been unanimously approved by the Boards of Directors of both companies, Rite Aid will pay approximately $1.8 billion in cash and $200 million in Rite Aid stock, or approximately 27.9 million shares. EnvisionRx is a national, full-service pharmacy benefit management (PBM) company with projected 2015 calendar year revenues of approximately $5 billion and projected 2015 calendar year EBITDA in a range of $150 to $160 million. The company provides both transparent and traditional PBM options through its EnvisionRx and MedTrak PBMs, respectively, as well as pharmacy-related services to clients across the nation. EnvisionRx also offers fully integrated mail-order and specialty pharmacy services through Orchard Pharmaceutical Services; access to the nation's largest cash pay infertility discount drug program via Design Rx; an innovative claims adjudication software platform in Laker Software; and a national Medicare Part D prescription drug plan through Envision Insurance Company's EnvisionRx Plus product offering.
With a bright yellow spine and an eagerness to inspire, the new Mohawk Skytone swatchbook is hot off the press. Measuring nine by six inches, Mohawk’s new swatchbooks are bigger and better than ever. Each book features consistent branding, including similarly designed covers and colorful, eye-catching spines displaying the Mohawk logo, paper grade and paper grade descriptor.
Huhtamaki – Waterville received its recognition as the 2014 Maine Manufacturing Extension Partnership (MEP) Manufacturer of the Year on Feb. 5 in Augusta, ME. The award was presented by Maine Governor Paul R. LePage and George Gervais, Maine Department of Economic and Community Development (DECD) Commissioner. The award recognizes Huhtamaki – Waterville's accomplishments in innovation, diversification, investment in the workforce and lean manufacturing practices. "I congratulate Huhtamaki for its continued outstanding performance," said Governor Paul R. LePage. "Manufacturing is alive and well in Maine and Huhtamaki is a great example of how good-paying careers can be sustained for generations."