NewPage Port Hawkesbury granted extension:
In court this morning, Justice John Murphy approved another extension to NewPage Port Hawkesbury‘s period of creditor protection.
But the judge expressed concern about possible delays getting the purchase deal with Pacific West Commercial Corp. done by September.
This extension is for 2 more months.
NewPage Port Hawkesbury will return to court on August 1.
Thursday, May 31, 2012
AF&PA Reports April Paper & Board Production
http://www.afandpa.org/
US
paper and board production in April declined 2.5% vs April 2011 production and was down year-to-date by 1.2%, based on American Forest & Paper
Association figures.
The
April decline resulted from a 3.2% drop in paper production and 2% fall in
paperboard production.
Year-to-date,
uncoated mechanical paper production was down 16.2% and coated papers down 5%.
US
mills year-to-date ran at an average of 91.2%, in line with the 2011 average.
Catalyst Asks Goverment for Support
Kevin J. Clarke, president and CEO of Catalyst Paper is asking Victoria and Ottawa for it's support. "
Catalyst
delivers 7,000 jobs in B.C., and has a $2 billion impact a year." The company is asking the B.C. government to
support North Cowichan's efforts to achieve a competitive industrial tax rate, to make
available $30 million over five years to support new hiring and high-tech
training programs at Catalyst mills. It's asking Victoria for support in ensuring certainty in BC Hydro rates and to eliminate the $8 million per year risk to Catalyst
operations and Ottawa to return to Catalyst the $5.5 million each month in HST credits
that are normally returned to the company but that are now frozen under CCAA.
Verso Still Assessing Sartell Damage
The
future of a paper mill that's one of the main employers and taxpayers in the
central Minnesota town of Sartell was unclear Tuesday as firefighters spent a
second day trying to extinguish a fire that killed one worker and injured four.
The
fire broke out Monday with an explosion in a warehouse at the Verso Paper Corp.
mill. The warehouse held nearly 4,000 rolls of paper, each weighing hundreds of
pounds. Firefighters Tuesday still were trying to get to the burning rolls at
the back of the building.
The
building is unstable and structural beams are resting on top of paper rolls,
Fire Chief Ken Heim said. "We have a massive challenge ahead of us,"
Heim said during a news conference.
However,
Heim also said he didn't think the rest of the plant was damaged.
The
plant is so important to the area that Gov. Mark Dayton visited the site
Tuesday.
New York Magazine & Dwell Partner
http://www.foliomag.com/2012/new-york-and-dwell-partner-upcoming-print-publication-event
In
a collaboration that will play out in person and in print, New York
and Dwell
partner to bring design to a greater audience. The partnership aims to expand
both Dwell’s and New York’s footprints in the New York City
design scene, as well as to aid the American Institute of Architects [AIA] in
reaching the consumer market.
Magazine Readership by Young People Actually Up
It’s
a fairly common assumption that millennials don’t read print media because
they’re all too busy browsing blogs, clicking on Facebook links, and watching
YouTube videos to crack open a physical magazine. Well, a new study from Condé
Nast says young people's magazine readership is actually the highest it's been
in decades.
Consumer Magazine Readership Declines
http://www.mediapost.com/publications/article/175861/magazine-print-readership-declines-digital-grows.html
Consumer magazines’ print readership declined
over the last year, but the losses were partly offset by growth in digital
readership, according to GfK MRI, which recently released the second wave of
its revised Survey of The American Consumer, amended to include more questions
about digital reading.
In the period from September 2011-April 2012,
the total average print audience of 190 major titles tracked by GfK MRI came to
just over 1.2 billion, down 2.7% from 1.24 billion for the same period in 2011.
When print and digital editions are considered together, the figure sank 2.6%
from just under 1.25 billion to just under 1.22 billion.
Sycamore Partners Buys Talbots
Talbots Inc., a clothing brand known for
classically styled apparel for middle-age women, has agreed to be acquired by
an affiliate of the private equity firm Sycamore
Partners, the two companies said Thursday.
In
the press release issued Thursday, the companies said that the current
transaction is valued at about $369 million when debt is included. The
transaction is expected to close in the third quarter of this year.
USPS; New Branding Program for Marketers
USPS Launching Mailing Permit Branding Program for Marketers: In response to customer requests, the U.S. Postal Service is announcing the launch of the “Picture Permit Imprint Indicia” program for commercial mailers.
This program provides new advertising opportunities for commercial mail customers by allowing them to use corporate logos, product visuals or other brand images in the permit indicia space on their mail.
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