Wausau Paper (WPP) today announced that it has signed a non-binding Letter of Intent to sell its specialty paper business to a new company ("NewCo") to be formed and controlled by investment funds sponsored by KPS Capital Partners L.P. ("KPS"), a New York based private equity firm with significant experience in the paper industry and in completion of complex corporate carve-outs.
KPS has also signed a non-binding Letter of Intent to acquire another company and combine it with the specialty paper business within NewCo. Wausau has the option to have an initial ownership position in NewCo of up to 25 percent with the opportunity to earn up to an additional 5 percent interest upon NewCo reaching certain performance thresholds.
Friday, March 22, 2013
Domtar to Acquire Xerox Paper Business
Domtar Corporation, one of the largest manufacturers and distributors of paper in North America, has signed, through its operating subsidiaries, an agreement to acquire Xerox's (XRX) paper and print media products business in the United States and Canada.
While Xerox does not manufacture paper, the company has long distributed through its brand name a broad range of coated and uncoated papers and specialty print media including business forms as well as carbonless and wide-format paper. This business will now become part of Domtar's pulp and paper segment, and Domtar will market and distribute Xerox-branded paper and print media. The transaction is expected to close in the second quarter of 2013, subject to customary closing conditions.
Global Pulp Deliveries Up
Global pulp deliveries rose by 1.5% to 3.493 million tonnes
in February, up from 3.442 million tonnes the previous month, according to Pulp
and Paper Products Council (PPPC) data.
Shipments were 1.4% lower than the year-earlier period, down
from 3.544 million tonnes in February 2012.Bleached softwood kraft (BSK) pulp shipments were up from 1.797 million tonnes in January to 1.810 million tonnes in February, while bleached hardwood kraft (BHK) pulp deliveries rose from 1.516 million tonnes in January to 1.566 million tonnes last month.
NA Newsprint Demand Falls, Exports Up
Newsprint demand by North American newspapers in the
seasonally weak month of February tumbled 17% compared with February 2011,
bringing its year-to-date decline to 11%, according to the Pulp and Paper
Product Council's latest statistics.
Demand by commercial printers also fell 1.2% last month,
reflecting tougher annual comparisons for newsprint for end uses other than
newspapers, bringing the demand decline for the two categories combined to
14.1% in February and 9.0% year-to-date.Offshore shipments surged 29,000 tonnes or 21.2% in February, led by a 47.3% increase in exports to non-Japan Asia and 19.8% increase in deliveries to Latin America.
Newton Falls Equipment Sold
Despite fears, there may still be hope for
the idled Newton Falls Fine Paper Mill to resume production.
That's because the mill property and
its equipment has been purchased at auction by a mystery buyer.The mill's inventory was being sold at an auction in Syracuse Thursday. Economic development officials feared the lack of equipment would kill any chances the mill would reopen.
7 News has learned the mill's current owner,
Scotia Investments of Nova Scotia, has accepted a single bid for all the
equipment from "an international group."
Canada's Budget Supports Forestry Innovation
The 2013-14 federal budget today reinforces the nation's
forestry innovation opportunity says FPInnovations, Canada's forest sector R&D
and innovation institute. This government's continued support of forestry
innovation and market development programs is recognition that the forest
sector remains a key growth area for the Canadian economy.
"The 2013-14 budget recognizes that forestry R&D remains a vital engine of growth for the future", stated Pierre Lapointe, President and CEO of FPInnovations. "Canada can point to innovations such as award-winning cellulose nanocrystal research, multi-storey wooden buildings, and cellulose filaments as clear examples of recent developments. Today's federal budget, earmarking $92 million over two years starting in 2014-15 for the forest sector, ensures that we continue to build on these world leading successes."
The Forest Products Association of Canada (FPAC) welcomes the additional support for innovation and market development unveiled in today's budget and also applauds the government's focus on skills training.
"The 2013-14 budget recognizes that forestry R&D remains a vital engine of growth for the future", stated Pierre Lapointe, President and CEO of FPInnovations. "Canada can point to innovations such as award-winning cellulose nanocrystal research, multi-storey wooden buildings, and cellulose filaments as clear examples of recent developments. Today's federal budget, earmarking $92 million over two years starting in 2014-15 for the forest sector, ensures that we continue to build on these world leading successes."
The Forest Products Association of Canada (FPAC) welcomes the additional support for innovation and market development unveiled in today's budget and also applauds the government's focus on skills training.
This Old House Debuts Wayfair.com
This Old House and Wayfair.com,
an online retailer of home furnishings, have unveiled the This Old House Shop
on Wayfair.com. This is the first e-commerce venture for This Old House and it
will allow readers to shop looks and products inspired by the pages of the
magazine directly on Wayfair.com.
UBM Closes Information Week, CRN Print Editions
UBM is preparing to announce that it's shutting
down two iconic print brands in its Tech division, with major layoffs, two
sources have told Folio:. InformationWeek and CRN will close their print
editions, according to the sources, and more than 100—perhaps as many as 300—employees
will be let go.
MediaPost Mag Bag
Meredith Expands in Turkey, Italy
Caine Leaves Time Inc. for Dial Global
Southern Living Names New Food Appointments
The Atlantic Gets Video From NowThisNews
Washington Examiner Morphs to Weekly Print Magazine
Clarity
Media Group executives today announced a major shift in the business model of The Washington
Examiner, becoming a digital platform and
weekly print magazine focused on political news and thought leadership.
AARP Rolls Out Social Monetization
AARP Rolls Out Social Monetization: AARP, the association for those aged 50-plus and publisher of the largest circulation magazine in the country, is taking advantage of Facebook to not only reach its core membership, but to offer advertisers integrated ad buys as well.
Google Closes Print Edition of Frommer's
Why Google is Pulling the Plug on Frommer's: Sales of guidebooks are down sharply as people instead turn to sites like TripAdvisor for hotel and restaurant reviews. The industry's decline was hammered home recently with two big developments. The latest came Thursday with word that Google (GOOG) planned to kill the print edition of Frommer's, the travel guide giant it acquired last year. Google declined to comment, although Skift, a travel news site, reported that Google's editors had already broken the news to authors of some upcoming titles.
GAO Says USPS Must Comply with Six-Day Provision
GAO Says USPS Must Comply with Six-Day Provision: In a letter addressed to Congressman Gerald E. Connolly, the U.S. Government Accountability Office (GAO) deemed Postmaster General Patrick Donahoe's claim that the U.S. Postal Service (USPS) isn't obliged to comply with the six-day delivery provision as a “faulty USPS premise.” Through this interpretation, the USPS is legally compelled to “continue six-day delivery and rural delivery of mail at not less than the 1983 level.” In effect, this means the GAO rejects that the USPS can reduce mail delivery service to five days.
Make Bill Paying Easier with BREs
Will Saturday Mail Stoppage Mean Booming Business for BREs?:
One of the biggest concerns is for bill payments since consumers will have one less day for their payments to arrive. But Gene Del Polito, president of Postcom, made an interesting observation. If that’s a concern, why not make paying bills easier? Free online bill pay (that is one of my pet peeves — billers who charge for online payments that save them money and improve their cash flow anyway) or pre-paid BREs if they aren’t offering them already.
One of the biggest concerns is for bill payments since consumers will have one less day for their payments to arrive. But Gene Del Polito, president of Postcom, made an interesting observation. If that’s a concern, why not make paying bills easier? Free online bill pay (that is one of my pet peeves — billers who charge for online payments that save them money and improve their cash flow anyway) or pre-paid BREs if they aren’t offering them already.
Leading Economic Index Increases, PMI Up
Conference Board Leading Economic Index for the U.S. Increases: The Conference Board Leading Economic Index (LEI) for the U.S. rose 0.5 percent in February to 94.8 (2004 = 100), following a 0.5 percent increase in January, and a 0.4 percent increase in December.
http://articles.marketwatch.com/2013-03-21/economy/37886972_1_new-orders-and-employment-markit-slower-rate
March U.S. flash manufacturing PMI rises to 54.9 The U.S. flash manufacturing purchasing managers index rose to a 54.9 reading in March from 54.3 in February. A level above 50 indicates an expansion in activity
March U.S. flash manufacturing PMI rises to 54.9 The U.S. flash manufacturing purchasing managers index rose to a 54.9 reading in March from 54.3 in February. A level above 50 indicates an expansion in activity
Subscribe to:
Posts (Atom)