Fibrek/Resolute Forest Product Update

Fibrek wins appeal, Resolute extends its offer for Fibrek:

The Court of Québec has overturned on appeal the decision of the Bureau de décision et de révision (Québec) granting an order to cease trade the proposed private placement of 32,320,000 special warrants to purchase common shares of Fibrek Inc. to Mercer International Inc. further to an application filed by AbitibiBowater Inc.

Meanwhile, AbitibiBowater Inc., doing business as Resolute Forest Products, has announced that it has applied for leave to appeal the Court of Québec’s decision reversing the cease trade order on Fibrek Inc.’s private placement. Resolute has extended its offer date to March 19.

Catalyst Paper Reports Agreement

Catalyst Paper enters into Restructuring and Support Agreement:
Catalyst Paper Corporation has announced that the company has entered into an agreement with certain holders of its 11% senior secured notes due 2016 (Senior Secured Notes) and 7 3/8% senior notes due 2014 (Senior Notes) with respect to a plan of arrangement under the Companies’ Creditors Arrangement Act (CCAA).

Flint Group Lends Insight on Costs

Flint Group provides insight into expected raw material cost: “There is a misplaced view that raw material costs for the graphic art industry are coming down” says Jan Paul van der Velde, SVP Procurement of Flint Group. Jan Paul continues: “The reality is that, with the exception of Gum Rosin which dropped a bit in Q4 and Q1 but is now already on the way back up, hardly any materials dropped significantly in price.

Manroland Web Systems Buys UK Business

Manroland Web Systems acquires Manroland's UK web business: Possehl-owned Manroland Web Systems has acquired the Manroland GB web business out of administration.