Paper maker Stora Enso in $104 million Q3 profit:
Nordic paper maker Stora Enso Oyj has reported a third-quarter net profit of 80 million but says it will slash 520 jobs to save 36 million annually.
The company had a net loss of (EURO)50 million in the same period last year, when it recorded a nonrecurring cost of (EURO)193 million. Revenue in July through September fell slightly to (EURO)2.69 billion from (EURO)2.74 million in the same period in 2011.
Tuesday, October 23, 2012
MeadWestvaco Reports Q3 Results
MeadWestvaco 3Q profit falls more than 56 percent:
MeadWestvaco Corp.'s third-quarter profit fell more than 56 percent from a year ago as the packaging company spun off its consumer and office products business in May.
The Richmond, Va., company on Tuesday reported earnings of $51 million, or 28 cents per share for the three months that ended Sept. 30. That's down from $117 million, or 67 cents per share, a year ago. Adjusted for restructuring charges and income from discontinued operations, MeadWestvaco earned $67 million, or 39 cents per share, matching analyst expectations.
MeadWestvaco Corp.'s third-quarter profit fell more than 56 percent from a year ago as the packaging company spun off its consumer and office products business in May.
The Richmond, Va., company on Tuesday reported earnings of $51 million, or 28 cents per share for the three months that ended Sept. 30. That's down from $117 million, or 67 cents per share, a year ago. Adjusted for restructuring charges and income from discontinued operations, MeadWestvaco earned $67 million, or 39 cents per share, matching analyst expectations.
Resolute Reaches Agreement with Catawba Unions
The two United
Steelworkers locals at a southeastern York County mill have reached a new
agreement with Resolute Forest Products that should result in no immediate
forced layoffs at the plant, union officials say.
Mike Godfrey,
president of production union at the Catawba plant, said members
"overwhelmingly" adopted the new agreement Tuesday.
Verso Pays City of Sartell
The city of
Sartell has received full reimbursement from Verso Paper Corp. for its response
to a Memorial Day fire.
Today the city
received a check for about $398,000 to cover the fire response. There were 92
agencies from across the state that responded to the fire and 68 of those
submitted invoices for repayment.
Stora Enso: May Sell Corbehem LWC Mill, Closing Hylte News PM
Stora Enso plans restructuring of its operations through the permanent shutdown of paper machine 1 at Hylte Mill in Sweden and the permanent closure of the corrugated packaging plant at Ruovesi in Finland.
Global Pulp Deliveries Up 4.6%
Global pulp deliveries increased 4.6% to 3.838 million
tonnes in September, up from 3.670 million tonnes the previous month, according
to Pulp and Paper Products Council (PPPC) data.
Shipments were 0.4% lower than the year-earlier period, down
from 3.855 million tonnes in September 2011.
AF&PA Releases July Containerboard Report
American Forest & Paper Association Releases July 2012 U.S. Containerboard Statistics Report: (USA) The American Forest & Paper Association released its July 2012 U.S. Containerboard Statistics Report today. Containerboard production rose 2.3% over June 2012 but fell 2.2% compared to same month last year. The month-over-month average daily production decreased 1%. The containerboard operating rate for July 2012 lost one point over June 2012 from 96.3% to 95.3%.
USW Ratifies Temple-Inland/IP Agreement
USW ratifies Temple-Inland integration agreement with IP
The United Steelworkers (USW), North America’s largest industrial union, recently announced that workers ratified an agreement this week to integrate about 1,400 workers at 18 former Temple Inland box plants into the union’s master economic agreement with International Paper (IP), with 90% of the ballots cast in favor of the contract.
The United Steelworkers (USW), North America’s largest industrial union, recently announced that workers ratified an agreement this week to integrate about 1,400 workers at 18 former Temple Inland box plants into the union’s master economic agreement with International Paper (IP), with 90% of the ballots cast in favor of the contract.
WBCSD: Benefits of Forest Products
Sustainability benefits of using forest products
The World Business Council for Sustainable Development (WBCSD) recently released a report highlighting the key role forests and forest products play in finding sustainable solutions in a resource constrained world. The report “Facts and Trends: Forests, forest products, carbon & energy” underlines their necessity for a future low-carbon and bio-based economy, as they can help to reduce society’s greenhouse gas emissions.
WBCSD hightlights the importance of sustainable forest management in new report
Reader's Digest Shutters Healthy Cooking
Reader's
Digest Association is shutting down the bimonthly Healthy Cooking as a
standalone magazine and transferring its 516,000 subscribers to the larger
Taste of Home, continuing its effort to focus on its big core brands.
Reader's Digest Association doesn't plan any
layoffs associated with the move and will begin running expanded healthy
content in Taste of Home as part of the change, according to Frank Quigley,
general manager of Reader's Digest Milwaukee, the unit that handles both
brands. Taste of Home's section on healthy choices, for example, will double to
eight pages.
Disney Redesigns Website
The new site, introduced this month and promoted as “cleaner, simpler, more elegant,” is one way Robert A. Iger, Disney’s chief executive, hopes to turn around the company’s gaming, mobile and Internet division after 15 consecutive quarters of losses — some $977 million in total.
Hearst Uses Magazine Content for New eBook
Hearst Pulls Content From Multiple Titles for Holiday eBook: Hearst Magazines has announced the release of a new ebook aimed at the holiday chef.
The 235-page digital-only publication, Let's Talk Turkey, is a compilation of recipes and cooking tips from Hearst titles including Country Living, Good Housekeeping, Redbook and Woman's Day. Starting Tuesday, it will be available for $3.99 on all Apple, Kindle and Nook platforms.
The 235-page digital-only publication, Let's Talk Turkey, is a compilation of recipes and cooking tips from Hearst titles including Country Living, Good Housekeeping, Redbook and Woman's Day. Starting Tuesday, it will be available for $3.99 on all Apple, Kindle and Nook platforms.
Direct Mail Giant Urges USPS Review Rates
U.S. Direct Mail Giant Urges Rethink on Standard Mail Pricing: Valpak, part of Atlanta-based Cox Target Media, told regulators yesterday that the 2.57 percent rate increase set to come into effect on Jan. 27, 2013, will not be high enough to cover the costs of the Standard Mail Flats service. The company said in failing to meet its costs, USPS was breaking U.S. postal law, and putting its own financial health at risk—as well as requiring direct mail customers to effectively pay higher rates to protect the ailing catalogue industry.
Magazines vs. Digital Startups
Magazines vs. Digital Startups: Simon Dumenco (of AdAge ) has a question: Would you rather own a magazine, or a digital startup? He notes that some magazines are making real money these days, including Marie Claire , even as most digital startups fail.
Mobile Use Grows; Ad Dollars Yet to Catch Up
Mobile Use Grows; Ad Dollars Slow to Catch Up: According to analysis by eMarketer, U.S. consumer time spent using mobile devices for activities other than talk has more than doubled in the past two years. While ad dollars have been slow to follow, that is changing. The share of ad dollars is 1.6% of U.S. ad spending this year though adults spend an average of 11.7% of their media time with their phones and tablets...With this said, challenges do face the mobile advertiser, such as small and ugly ads, slow connections, the lack of standardization for mobile ad formats and limited targeting abilities.
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