Sappi Ltd. Reports Q1 Results

Sappi Ltd. sees Q1 operating profit "weaker" than a year ago:
Financial summary for the quarter
Net profit US$107 million (Q4 2011 net loss US$127 million)
Earnings per share of 21 US cents (Q4 2011 loss per share 24 US cents)
Operating profit excluding special items US$118 million (Q4 2011 US$80 million)
Net cash generated US$203 million (Q4 2011 US$279 million)
Targeted net debt level reached a year early - US$1,979 million

NewPage to Meet with Lenders

http://www.bloomberg.com/news/print/2012-11-06/chesapeake-raises-rate-on-2-billion-loan-newpage-readies-deal.html

Chesapeake Energy Corp. (CHK) increased the rate it will pay on $2 billion of loans and NewPage Corp., the Cerberus Capital Management LP-owned coated paper maker, set a meeting to discuss an $850 million financing to lead companies in the market for leveraged loans in the U.S. today.
Chesapeake boosted the discount at which it’s selling the debt to 98 cents on the dollar from 99 cents, increasing the yield for investors and reducing proceeds for the borrower, according to data compiled by Bloomberg. NewPage’s bankruptcy exit financing consists of a $500 million, six-year term loan and a $350 million, five-year asset-based revolving line of credit, Bloomberg data show.

Private Contractors Concerned with Port Hawk Prices

Private land contractors balk at Port Hawkesbury Paper’s wood prices:
Private land contractors met in Sydney, Nova Scotia on Monday night with representatives of Port Hawkesbury Paper.
The contractors were not pleased with the information they learned at the meeting, and reportedly left as frustrated as when they arrived.

FPAC Asks for More Gov Help

http://www.sacbee.com/2012/11/07/4967836/forest-sector-requests-ongoing.html
The Forest Products Association of Canada (FPAC) is asking the federal government to use Budget 2013 to continue to build on the existing momentum of innovation and transformation in the job-rich forest sector. This should include replenishment of the successful Investments in Forest Industry Transformation (IFIT) program.

The original $100 million IFIT program generated 107 applications and was over-subscribed by a factor of five, demonstrating the significant appetite by the Canadian forestry sector to develop and commercialize new innovative technologies in the areas of bio-energy, bio-chemicals and new solid wood projects. About a third of these project applications were for world-first innovations. By investing $300 million over the next three years in IFIT, the government will continue to support the ambitious Vision2020 agenda of the Canadian forest sector.

NGOs Urge APP Boycott

NGOs urge Asia Pulp and Paper boycott:
The letter, which was sent to banks and financial institutions in 12 countries on Monday (5 November), asks funders to "carefully screen any pulp industry investment projects related to Indonesia, particularly those of companies associated with the Sinar Mas Group, notably APP".
Indonesian and trade press reports that APP is planning to build a new pulp mill in Sumatra have heightened concerns amongst NGOs including WWF and Greenpeace, the letter states.
The reports have claimed that the proposed mill will be one of the largest in the world, with an annual production capacity of up to 2m tonnes.

Oriental Trading Bought by Berkshire Hathaway

http://dealbook.nytimes.com/2012/11/02/berkshire-to-buy-oriental-trading-company/

 Berkshire Hathaway, run by Warren Buffett, shown, agreed to pay about $500 million for the retailer.

Berkshire, run by billionaire Warren Buffett, agreed to pay about $500 million for the business, according to a person with knowledge of the deal.

The purchase of Oriental Trading, based in Berkshire's hometown of Omaha, Neb., adds another retail company to Berkshire's stable and marks a vote of confidence in the company, which emerged from bankruptcy protection in February last year.

"Oriental Trading is a leader in its industry, has a strong management team and delivers exceptional customer value and service," Mr. Buffett said in a statement released jointly with Oriental Trading on Friday.

Group Makes Offer for Resolute’s Oakhill Sawmill

Investment group makes offer to buy Resolute’s Oakhill sawmill in Nova Scotia:
An investment group has made an offer to buy the Oakhill, Nova Scotia sawmill owned by Resolute Forest Products.
The mill was idled in June when Resolute Forest Products indefinitely idled the Bowater Mersey mill. The 100 employees of the sawmill were laid off.
The investment group is led by a manager of the sawmill, Hans Pedersen.

Quad/Graphics Reports Q3 Results

https://www.google.com/search?q=quad%2Fgraphics&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a

Highlights:
Generates third quarter net sales of $1,040 million.
Achieves Adjusted EBITDA of $155 million and Adjusted EBITDA margin of 14.9% for the quarter.  Generates $53 million in Recurring Free Cash Flow for the quarter and $220 million year-to-date.  
Raises full-year 2012 Recurring Free Cash Flow guidance to equal or surpass full-year 2011 of $340 million.
Repays $16 million in debt during the quarter and $148 million year-to-date.
Announces intent to acquire substantially all the assets of Vertis Holdings, Inc.

Cenveo Reports Q3 Results

http://www.cenveo.com/

The Company generated net sales of $451.3 million for the third quarter of 2012, compared to $475.8 million for the third quarter of 2011. The decrease in net sales was primarily due to lower sales in our print and envelope product lines as a result of lower direct mail volumes from our financial services customers, the closure and consolidation of a print plant in the first quarter of 2012 and our decision to exit certain low margin businesses. The Company generated net sales of $1.3 billion for the first nine months of 2012, compared to $1.4 billion for the first nine months of 2011.

Hearst Buys Equity Stake in Spooky Cool Labs

Hearst Takes Equity Stake in Game Developer Spooky Cool Labs:
Hearst Corporation has officially entered the game space with a minority stake in mobile and social game developer Spooky Cool Labs. Terms of the deal were not disclosed.

The Atlantic Headed for 3rd Year of Profits

Digital Pushing Third Year of Profit for The Atlantic:
The Atlantic had another strong month in digital sales and traffic. According to the company, October 2012 digital revenue was 28 percent higher than the same month last year. The increasing sales figures are expected to help push the brand into its third consecutive year of profit, with 2012 digital revenues projected to be 33 percent higher than 2011.

Finland's 3rd Biggest Coal User Plans Change

http://www.bloomberg.com/news/2012-11-07/helsingin-energia-may-replace-40-of-coal-with-biomass-at-plants.html
Helsingin Energia, Finland’s third- biggest coal user, may replace as much as 40 percent of its coal with wood pellets at two plants in the next eight years to limit carbon emissions and boost renewable energy output.

Helsingin Energia, the country’s biggest municipal utility, strives to find an “optimal fuel mix” for replacing 5 to 10 percent of coal use by co-firing 100,000 metric tons of wood pellets annually starting 2014, and possibly 40 percent by 2020, after tests which are taking place through April, it said today in an e-mailed statement.

Michigan Votes No on Renewable Energy Goal

http://www.renewablesbiz.com/article/12/11/voters-reject-push-require-25-renewable-energy-25

Proposal 3, which called for amending the Michigan Constitution to require 25% of the state's energy to come from renewable resources by 2025, was easily trounced Tuesday.

With 41% of the precincts reporting, 64% of voters voted no, while 36% voted yes.

Heidelberg Q2 Sales up 10%

Heidelberg Q2 Sales up 10%: At EUR 668 million, incoming orders in second quarter remain at previous year's level; with more than EUR 1.5 billion after first six months around 17 percent above previous year
Sales in second quarter EUR 697 million, 10 percent up on previous year.