The Postal Regulatory Commission issued its analysis of the United States Postal Service Fiscal Year 2019 Annual Performance Report and FY 2020 Performance Plan. The FY 2019 Report discusses the Postal Service’s progress in meeting its performance goals during FY 2019, while the FY 2020 Plan describes the Postal Service’s plans for meeting its performance goals in FY 2020. Each year, the Commission must review the Postal Service’s performance goals and evaluate whether the Postal Service met those goals in the previous fiscal year. The Commission may also offer recommendations to the Postal Service regarding the protection or promotion of public policy objectives in title 39 of the United States Code. The FY 2020 Plan does not include the impact of COVID-19 on the Postal Service. The Postal Service established the FY 2020 targets before the pandemic. As such, the FY 2020 Plan does not include any expected effects of the pandemic.
Member companies of the Association of American Publishers (AAP) filed a copyright infringement lawsuit against Internet Archive (“IA”) in the United States District Court for the Southern District of New York. The suit asks the Court to enjoin IA’s mass scanning, public display, and distribution of entire literary works, which it offers to the public at large through global-facing businesses coined “Open Library” and “National Emergency Library,” accessible at both openlibrary.org and archive.org. IA has brazenly reproduced some 1.3 million bootleg scans of print books, including recent works, commercial fiction and non-fiction, thrillers, and children’s books. The plaintiffs—Hachette Book Group, HarperCollins Publishers, John Wiley & Sons and Penguin Random House—publish many of the world’s preeminent authors, including winners of the Pulitzer Prize, National Book Award, Newbery Medal, Man Booker Prize, Caldecott Medal and Nobel Prize. Despite the self-serving library branding of its operations, IA’s conduct bears little resemblance to the trusted role that thousands of American libraries play within their communities and as participants in the lawful copyright marketplace. IA scans books from cover to cover, posts complete digital files to its website, and solicits users to access them for free by signing up for Internet Archive Accounts.
Silgan Holdings Inc. announced that it completed its acquisition of the dispensing business of the Albéa Group. This business is a leading global supplier of highly engineered pumps, sprayers and foam dispensing solutions to major branded consumer goods product companies primarily in the beauty and personal care markets. It operates a global network of 10 plants across North America, Europe, South America and Asia. This business generated sales of approximately $395 million in 2019. The purchase price for this acquisition was $900 million, subject to adjustments outlined in the purchase agreement for this acquisition. The Company funded the purchase price for this acquisition and related costs and expenses through term and revolving loan borrowings under its senior secured credit facility, including a $900 million delayed draw term loan.
Sun Chemical will increase the prices of its solvent-based inks and coatings in North America, effective July 1, 2020. Due to the significant increase in the demand for alcohols and solvents for use in sanitizers and pharmaceutical initiatives, the prices of these materials have increased substantially. In order to secure the needed components for the production of solvent-based inks and coatings, Sun Chemical has experienced raw material cost escalation during the second quarter of 2020. These increases are expected to remain in place and possibly accelerate throughout the remainder of the year.
Sun Chemical and its parent company, DIC Corporation, have entered into a definitive agreement to acquire 100 percent of the shares of Sensient Imaging Technologies and certain other assets related to the production of inks. The transaction is expected to be finalized in the second quarter of 2020. The strategic investment in Sensient Imaging Technologies, a supplier of digital inks, will allow Sun Chemical and DIC to expand its inkjet ink capabilities and expertise using complementary technologies that will further strengthen the highest standards of services and solutions to its customers and distributor partners. Inkjet is a strategic segment for Sun Chemical and DIC, and the investment in Sensient Imaging Technologies will demonstrate Sun Chemical and DIC’s commitment in the digital segment.
Mondi is committed to playing its part in the supply of essential products during the COVID-19 outbreak and has recently developed packaging for QIAGEN's SARS-CoV-2 coronavirus test kit. QIAGEN is a leading global provider of molecular Sample to Insight solutions. The company recently launched a syndromic test cartridge kit for the QIAstat-Dx Analyser System that can identify the SARS-CoV-2 coronavirus within an hour. Designed for use in hospitals, clinics and laboratories, the company’s new QIAstat-Dx syndromic testing platform comes in the form of a compact, modular, table-top device into which multi-chamber cartridges containing test samples are inserted for analysis.
Effective June 1, 2020, Solenis LLC closed on its previously announced acquisition of the paper business of ChemSystems, a division of AECI Ltd. Headquartered in Johannesburg, South Africa, ChemSystems is a leading producer and supplier of specialized chemical solutions for water-intensive industries, including the pulp, paper and tissue manufacturing industries in Sub-Saharan Africa. The business will be integrated into Solenis as part of its direct-to-market strategy.
Shutterfly Inc. announced its efforts to bring joy and much-needed resources to communities across America through its Shutterfly For Good platform. “Our business is built on connecting people and creating more from life’s moments; and in these challenging times, that is more important than ever,” said Jim Hilt, Shutterfly president. “It’s been incredible to see how communities around the globe are coming together to lift one another up. At Shutterfly, we believe we have a responsibility to help amplify these efforts and shine a light on the good in the world, today and every day. We’re very happy to have a platform to do that through Shutterfly For Good. click read more below for details
Canfor Corporation, further to its announcement on November 9, 2018, completed the purchase of Elliott Sawmilling Company Inc. on May 31, 2020. Elliott adds over 210 million board feet of production capacity.
Pier 1 Imports, Inc. announced that it has received approval from the U.S. Bankruptcy Court for the Eastern District of Virginia for the Company’s planned wind-down of operations. Pier 1 intends to initiate store closing efforts and liquidation sales once store locations can reopen, in compliance with COVID-19 guidelines from local government and health officials. The Company plans to conclude its liquidation sales by the end of October. “This is not the outcome we hoped for when we began this process, and we are deeply saddened to move forward with winding down Pier 1,” said Robert Riesbeck, Pier 1’s Chief Executive Officer and Chief Financial Officer. “We are incredibly grateful to everyone who has supported Pier 1 since the Company’s inception nearly 60 years ago, including our committed associates, passionate customers and talented vendors.” In connection with the wind-down and as previously announced, Pier 1 intends to sell its remaining assets, including its intellectual property and e-commerce business, pursuant to the bidding procedures established in February 2020. The Court today set July 1, 2020 as the asset bid deadline, July 8, 2020 as the auction date and July 15, 2020 as the sale hearing date. Pier 1 is currently continuing to serve customers through Pier1.com, and orders are being processed and filled.