Harbor
Paper LLC today announced the acquisition of the former Grays Harbor Paper Mill
located in Hoquiam, Washington. The new owners expect to take possession of the
facility immediately and begin producing paperwithin 45 days. Grays had the capacity to produce154,000 tpy of uncoated freesheet on two PMs.
Monday, August 13, 2012
Ernst & Young Recommends Port Hawkesbury Sale
The
court-appointed monitor overseeing the sale of NewPage Port Hawkesbury is
recommending creditors vote in favour of selling the mill to Pacific West
Commercial Corp.
In
his 12th report released Thursday, Ernst & Young senior vice-president
Mathew Harris recaps the creditor protection process, from the dire financial
straits that forced the beleaguered mill to shutter last September, to the
lengthy ongoing sales process.
Sartell Work Transferred to Bucksport & Jay
SP Newsprint Dublin Mill Idled
SP Newsprint shut down its mill in Dublin at
the end of July, and although a company official said the closure was not
permanent, he declined to say when it would reopen. The mill has the capacity to produce ~600,000 tpy of newsprint on two PMs.
SP Newsprint Holdings LLC filed for Chapter 11
bankruptcy protection in November 2011.
Oji and Nippon Report Results
Japanese
giants Nippon Paper Group (NPG) and Oji Paper have released their results for
the first quarter of the current financial year there, which started at the
beginning of April.
Nippon's
net income for the April to June period reached ¥399 million ($5 million), a
decline of 75% from the ¥1.6 billion yen profit turned in the same period last
year.
Oji
also suffered though, seeing its profits slide from ¥8.137 billion in the first
quarter of last year to ¥6.789 billion this year.
While
NPG's overall profits showed a marked drop, its sales were slightly up from the
April-June period last year, climbing half a percent to ¥251 billion.
But
Oji marked a small decline by the sales measure, with Q1 sales this year down
almost a percentage point to ¥304 billion.
Alberta Newsprint to Build Power Plant
Alberta Newsprint to build 65 MW power generation plant
Alberta Newsprint Company (ANC) announced ownership approval for construction of a power generation plant at its newsprint operation in Whitecourt, Alberta.
ANC is a joint venture owned by West Fraser and Whitecourt Newsprint Company Limited Partnership. ANC is a preferred supplier of high-quality newsprint in North America.
Alberta Newsprint Company (ANC) announced ownership approval for construction of a power generation plant at its newsprint operation in Whitecourt, Alberta.
ANC is a joint venture owned by West Fraser and Whitecourt Newsprint Company Limited Partnership. ANC is a preferred supplier of high-quality newsprint in North America.
Resolute Forest Products' Pension Problems
Resolute Forest Products pension plans underfunded by $1.9 billion:
Resolute Forest Products‘ pension plans are underfunded by $1.9 billion and its employees say they have already given up enough to keep the company in operation.
Resolute Forest Products has not met the minimal solvency levels in its pension plans regulated by Quebec and Ontario’s funding relief regulations. These regulations, adopted in 2011, affect approximately 80% of Resolute Forest Product’s unfunded pension obligations.
As a result of these new regulations, Resolute Forest Products has until March 2013 to adopt corrective measures to attain the target solvency ratio within 5 years.
Resolute Forest Products‘ pension plans are underfunded by $1.9 billion and its employees say they have already given up enough to keep the company in operation.
Resolute Forest Products has not met the minimal solvency levels in its pension plans regulated by Quebec and Ontario’s funding relief regulations. These regulations, adopted in 2011, affect approximately 80% of Resolute Forest Product’s unfunded pension obligations.
As a result of these new regulations, Resolute Forest Products has until March 2013 to adopt corrective measures to attain the target solvency ratio within 5 years.
Quad/Graphics Completes Integration, Reports H1 Results
At the close of the first half this year, Quad/Graphics, the Sussex, Wisconsin-based
printer and media services company, marked the official end to the integration
of its purchase
of Worldcolor two years ago. And while the company was able to pay a $.25
quarterly dividend, revenues were down about $8 million at the end of the half,
to $1.92 billion, when compared to the same period last year.
RDA Reports Q2 Results
RDA Holding Co., parent company
of The Reader's Digest Association, Inc. (together with its subsidiaries and
affiliated entities, "RDA"), the global multi-brand and
multi-platform media and direct marketing company, announced today its
financial results for the second quarter ended June 30,
2012.
Consolidated Graphics Reports Q1 FY 2012
Consolidated Graphics, Inc. today announced financial results for its first quarter
ended June 30, 2012.
Revenue for the June quarter was $238.3 million, a $5.0 million
or 2.1% decline compared to the prior year quarter.
Pocket Ventures Buys Space News
Imaginova,
the Orion telescope and binocular maker, has sold off its media property Space
News to Boulder, Colorado-based Pocket Ventures, a media
investment firm set up by a team of former Inside Communications executives.
The brand will be housed under a new company called Space News Inc.
Amazon Textbook Rental Offer
Amazon.com, Inc. today announced the launch of
Amazon Textbook Rental. Now college students can choose from thousands of
textbooks to rent for a semester.
Harte-Hanks Reorganizes Direct Marketing
Harte-Hanks Inc. has reorganized its direct marketing
operations into four separate focus areas and named leaders for each.
New York Magazine Expands Blog
New York magazine
has expanded its fashion blog, "The Cut," as a standalone fashion and
lifestyle Web site with twice its initial volume of original photography and
writing. The Cut’s editorial is arranged on five main
sections: fashion, beauty, goods, fame and love & war.
Gotham Names Publisher
Gotham has named David Katz
its new publisher. Katz comes to the magazine from Field & Stream, where he served as digital sales manager
for six months. Prior to that Katz was the associate publisher of Brides from 2004 to 2011.
Davler Buys LI Parent
Davler Media Group, publisher of NYMetroParents, City Guide and Promenade, has acquired Long Island Parent and its associated website from Wordsmiths Media, LLC.
In all, Davler publishes 14 magazines and
produces five annual live events. It distributes 3 million copies of its City
Guide magazine to more than 300 hotels. The eight editions of NYMetroParents
distribute 400,000 copies monthly.
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