The first e-reader was released in 1998, and it looked like the beginning of the end of the printed page. But today, paper books just as popular as ever. According to the Association of American Publishers, e-book sales haven’t diminished the popularity of paper books. Today, e-books comprise just 20–30 percent of book sales. In fact, e-book sales declined 4.9 percent in January 2019, compared to the same period in 2018. Here are five reasons people still choose paper books over their digital counterparts: 1.Better Sensory Experience — The feel of paper matters when reading a book. 2.Better for children — Studies have shown that babies and children learn better with paper books. 3.Better for your health — According to a Harvard Medical School study, reading a light-emitting e-book before bed hinders your ability to sleep, decreases your alertness the next morning and negatively affects your overall health. 4.Better at conveying information — A study reported in the Guardian concluded that people using e-readers were less likely to recall events in a short story than people who read the same story in print. 5.Better price point — E-readers can cost upwards of $100, a large investment for someone who can get a much more affordable paperback novel for less than $15 or, better yet, borrow a book at the library for free. Click Read More below for additional information.
According to the May 2019 Printing-Writing Monthly report from AF&PA, total printing-writing paper shipments decreased 11 percent in May compared to May 2018. U.S. purchases of total printing-writing papers declined eight percent in May compared to the same month last year. Total printing-writing paper inventory levels increased one percent from April 2019. U.S. shipments of uncoated free sheet (UFS) paper decreased 13 percent in May from the same month one year ago. The inventory level of UFS papers increased two percent in May compared to April. UFS imports in April 2019 increased 39 percent year-over-year while exports decreased 29 percent. U.S. purchases of coated free sheet (CFS) papers decreased five percent in May when compared to May 2018. Inventories decreased two percent compared to last month. Imports of CFS papers in April 2019 increased six percent while exports decreased 10 percent. U.S. shipments of coated mechanical (CM) papers decreased four percent year-over-year in May. U.S. purchases of uncoated mechanical (UM) paper decreased 10 percent in May. Inventory levels at the end of May when compared to April increased for CM and decreased for UM, both by three percent. Both imports and exports of CM increased year-over-year in April, while UM imports and exports were both up.
Due to the recent record flooding in Oklahoma, Georgia‐Pacific has again teamed up with Convoy of Hope to provide aid to disaster victims. Multiple communities have been affected including Tulsa, Fort Gibson and our mill area in Muskogee. Flooded roadways and rising waters have impacted at least 109 Georgia-Pacific employees as well as their families in nearby areas. Operations at the mill were temporarily affected due to rising waters that forced the river water pumps offline. Convoy of Hope, GP's ongoing partner for distributing products in disaster areas, has delivered three truckloads including 28 pallets of GP products to the Muskogee and Fort Gibson areas in the last two weeks. To help shoulder the burden of those affected by the flooding, the products distributed so far include Quilted Northern bath tissue, Sparkle®paper towels and Brawny® Giant Durable Wipes. Click Read More below for additional information.
As a global supplier of specialty industrial paper products, Ahlstrom-Munksjö focuses on innovative solutions that meet the needs of our customers and the diverse markets we serve. Ahlstrom-Munksjö’s wide range of specialty papers for the building and construction industry, known as Insu-Gard®, are high quality and durable for any end use. Natural MG Papers provide a smooth surface for lamination to foil or in Foil/Scrim Kraft (FSK) Building and Construction applications. Ahlstrom-Munksjö also offers extensible kraft papers (XKL®), which provide maximum strength and stretch prop¬erties for the most demanding converting applications. All Insu-Gard® Building and Construction papers can be produced utilizing innovative Flame-Gard® surface coatings which provide flame-resistance for both metal and non-metal contact. “Ahlstrom-Munksjö offers the widest breadth of building and construction papers in the industry,” commented Robyn Buss, Vice President of Ahlstrom-Munksjö’s North America Specialty Solutions business area. “Insu-Gard® provides our customers with not only innovative solutions, but the diversity of applications necessary for these markets.” Click Read More below for additional information.
Rayonier Advanced Materials announced that it is repositioning key members of its senior management team to drive the company’s Go-to-Market strategy and accelerate new product commercialization. Frank Ruperto will assume the role of Senior Vice President, High Purity and High Yield Cellulose Business; Dr. Erin Byers will assume the new role of Senior Vice President, Research and Development; and Marcus Moeltner will be promoted to Chief Financial Officer and Senior Vice President, Finance. “Driving growth is a critical part of creating value for our stockholders,” said Paul Boynton, Chairman, President and Chief Executive Officer of Rayonier Advanced Materials. “We are repositioning key members of our senior leadership team to focus on the initiatives essential for our future success. I’d like to congratulate all three executives as they assume their new roles and responsibilities.” Click Read More below for additional information.
Verso Corporation announced that its Board of Directors has unanimously adopted a limited duration stockholder rights plan, following the Board's evaluation and consultation with the Company's advisors, and has declared a dividend distribution of one right ("Right") for each outstanding share of common stock. The record date for such dividend distribution is June 27, 2019. Unless and until a triggering event occurs and these Rights become exercisable, the Rights will trade with the shares of the Company's common stock. The adoption of the Rights Plan is intended to protect Verso and its stockholders from the actions of third-parties that the Board determines are not in the best interests of Verso and its stockholders, and to enable all stockholders to realize the long-term value of their investment. The Rights Plan also protects Verso from any efforts to obtain control while it is conducting its strategic alternatives process so that it can maximize the likelihood of a successful outcome. The Rights Plan is similar to other rights plans adopted by publicly-traded companies. Click Read More below for additional information.
Fortress Global Enterprises Inc. is pleased to announce that it has been granted a multi-year moratorium on upcoming principal and interest payments by Investissement Québec (“IQ”) under IQ’s outstanding loan. Fortress has received, without penalty, a postponement of approximately $45 million in principal and interest payments under the IQ Loan from June 30, 2019 to December 31, 2021. Interest payments during this period will be deferred and capitalized and the maturity date of the IQ Loan has been extended by five years to December 31, 2031. The principal amount of the IQ Loan, including capitalized interest, is to be repaid in quarterly instalments beginning on March 31, 2022. IQ has also agreed to extend the moratorium and the term for an additional 24 months and subordinate its security in favour of third party lenders in the event that Fortress obtains new financing, subject to certain limitations. Giovanni Iadeluca, Chief Executive Officer of Fortress, commented: “This multi-year deferral is a first step in strengthening our balance sheet and is a key component of our vision to create a long-term financing structure that will support the Company’s growth. The moratorium will contribute to production initiatives currently underway at the Fortress Specialty Cellulose mill, increase the working capital available to the mill, and provide Fortress with greater financial flexibility." Click Read More below for additional information.
Daniel Peltonen, Senior Vice President Paperboard, has decided to leave Holmen to take up a position as President Boliden Smelters. “During his more than 20 years at Holmen, Daniel has made an outstanding contribution to the company’s development. I wish him all the best as he moves on to new challenges outside Holmen,” says Henrik Sjölund, President and CEO of Holmen. Daniel has worked at Holmen since 1997 and has been Senior Vice President Paperboard since 2017. He will leave Holmen by December 2019 at the latest. The process of recruiting a replacement is now being initiated.
Sappi’s Lanaken mill in Belgium has recently undergone a two month long rebuild on its PM8. As of June, 12th 2019 the PM now has the ability to produce woodfree coated paper in addition to light weight coated paper. After a scheduled ramp-up and optimization this widened product capacity will provide excellent flexibility. Sappi will use this flexibility to meet the market demands.
The facility has a maturity of 5 years containing two extension options of 1 year each. Participating banks are Svenska Handelsbanken, Danske Bank, Skandinaviska Enskilda Banken and Swedbank where they all acted as “Mandated Lead Arrangers” and ”Bookrunners”, with Skandinaviska Enskilda Banken as “Co-ordinator”. The SEK 1 Billion loan from Nordiska investeringsbanken (NIB) has a maturity of 10 years, and will finance the expansion of production capacity of bleached softwood kraft pulp at the SCA Östrand plant in the municipality of Timrå, Sweden The loan will improve the duration of the maturity profile and will further diversify the funding. Click Read More below for additional information.