Verso Paper Corp. Announces Permanent Shutdown of Sartell Mill: Verso Paper Corp. today announced that after conducting a comprehensive assessment, Verso has made the difficult decision not to reopen its paper mill in Sartell, Minnesota.
The permanent closure of the Sartell Mill will reduce Verso's annual coated mechanical capacity by 180,000 tons and will eliminate approximately 35,000 tons of annual supercalendered paper capacity.
Friday, August 3, 2012
Verso to be Billed by Public Safety Agencies
Public
safety agencies that responded to the Verso paper mill on May 28 following a
fatal fire have listed expenses that will mean a $350,000 bill to the company
for reimbursement.
News on Port Hawkesbury Sale
A claim that electricity customers will pay
an extra $7 million a year to operate a new biomass plant because a Cape Breton
paper mill needs the steam is wrong, says the mill’s would-be owner.
Pacific West Commercial Corp. called the
figure, included in a regulatory filing last week by the Avon Group of
companies, an “erroneous assertion.”
The Supreme Court of Nova Scotia approved a
plan Wednesday that would see 11 municipalities paid about $3 million in
outstanding property taxes if the sale of the idle NewPage Port Hawkesbury
paper mill is approved.
Sappi Reports Q3 2012 Results
Operating
profit excluding special items for the quarter was in line with guidance and
similar to that achieved in the corresponding quarter in the prior year.
Sales
for the quarter was US$1.5 billion, a decrease of 14% in US Dollar terms compared
to the equivalent quarter a year ago primarily due to a stronger US Dollar
which impacted the translation of the European and South African sales, and 7%
lower sales volumes in Europe.
Norske Skog Reports Q2 Results
Norske Skog, Second Quarter 2012: Lower Debt and Stable Margins: (Norway) Higher capital utilisation and lower costs strengthen Norske Skog's gross operating earnings in the second quarter compared with the same quarter last year. Gross operating earnings in the second quarter were NOK 393 million, up from NOK 248 million in the same period last year, mainly due to lower costs and better capacity utilisation.
City & Regional Magazines Centered on Print
The 2012 City and Regional Magazine Survey: While consumer magazines across the industry wrestle with their mobile and digital strategies, the city and regional sector continues to focus on its print-centric strategies, largely maintaining modest digital operations.
June Commercial Printing Shipments Up
June 2012 US Commercial Printing Shipments Up +$139 Million Compared to 2011 (Economics & Research Center):
The US Commerce Department report of US commercial printing shipments for June 2012 was $6.85 billion, up +$139 million compared to last year (+2.1%). On an inflation-adjusted basis, shipments were up +$27 million (+0.4%).
The US Commerce Department report of US commercial printing shipments for June 2012 was $6.85 billion, up +$139 million compared to last year (+2.1%). On an inflation-adjusted basis, shipments were up +$27 million (+0.4%).
Time Names Editor, Southern Living
Time
Inc.’s Lifestyle Group editor Sid Evans has landed a big fish in his effort
to rebuild his magazine stable, hiring food editor Hunter Lewis away from Condé Nast’s Bon
Appétit.
Lewis
will be executive editor at Southern Living, overseeing food content in
print and online and managing the magazine’s test kitchen staff.
Time Inc. Reports Q2 Revenue
Time Warner took time to boast
about HBO during its earnings call this morning. But it was harder to brag
about its Time Inc. publishing unit, which had another
lousy quarter: Revenue was down 9 percent, and operating income was down 43
percent.
Senate Hears Testimony about Online Tax
Amazon on
Wednesday reiterated its call for federal legislation that would pave the way
for states to begin requiring online sellers from out of state to remit sales
taxes, urging members of the Senate Commerce Committee to rally behind the
Marketplace Fairness Act.
Misener told lawmakers that the bill
would not create a new tax, but instead facilitate the collection of one that
is already due, but goes largely unpaid.
Under the bill, only states that
took steps to simplify their tax codes would be eligible to require retailers
to remit the taxes. But opponents of the bill have countered that the
simplification provisions in the current version of the bill don't go nearly
far enough to harmonize the roughly 9,600 state and local tax codes across the
country.
July Retail Sales Better than Expected
US shoppers proved resilient in July, driving a key sales figure up at retailers across the country, despite persistent worry about jobs and the global economy.
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