The FFIF has signed a collective bargaining contract with three Finnish unions representing 94% of forest workers in the country. Paperiliitto, Pro and the Federation of Professional and Managerial Staff have agreed to a wage increase of 4.3% over the 25-month length of the contract. The white-collar workers of Pro had held several strikes last spring during negotiations.
Friday, December 9, 2011
Transcontinental Inc. Reports 2011 Earnings
Transcontinental announced FY 2011 revenues of $2.044 billion, up 1% over last year. Earnings were driven by its Printing sector as a result of new contracts and increased volume. Adjusted operating income was $252.7 million, also up 1%. Revenues for the fourth quarter were $537.5 million, down -3% as compared to the same quarter last year. Adjusted operating income was $86.3 million, a decrease of -3%.
Magazines Feature More QR Codes
GfK MRI Starch released a report showing that QR codes, or snap tags, appeared in 5% of magazine ads from January through August this year, as compared to 1.3% last year. Still unproven is the effectiveness of the QR codes; there isn’t evidence as yet that they bring additional consumer attention.
Magazine Roudup
Source Link Media has named Jim Adolph as publisher of its American Motorcycle Group. Mr. Adolph was formerly publisher of Car Craft and Dog Racing magazines. The Group includes Hot Bike, Hot Bike Baggers and Street Choppers magazines.
McGraw-Hill, which announced in September that the company was splitting into McGraw-Hill Financial and McGraw-Hill Education, has reported that it is cutting 10% of its workers, 550 employees, at the latter. The move is part of a plan to decrease annual costs by $100 million.
Bonnier Corp. has acquired four hunting expos from Target Communications. Terms of the deal were not disclosed. Bonnier publishes Field & Stream and Outdoor Life.
Publisher Get Married Media is shutting down its Get Married magazine and website this month.
Hoffman Media will no longer publish Semi-Homemade magazine, with Food Network celebrity chef Sandra Lee, after the January/February edition. A Sandra Lee spokesperson said the magazine would be restarted as part of a “multiplatform brand reorganization.”
Future Publishing is merging its UK and U.S. operations and creating a single global product line. The company produces gamer, music and technology enthusiast brands. Rachelle Considine has been promoted to chief operating officer.
Resolute and West Fraser Announce Pulp Price Cuts
Resolute Forest Products (Resolute) announced its list prices on five key grades of market pulp to North American customers this week, effective December 1 until further notice. For softwood kraft grades it slated price decreases of $30/tonne.
West Fraser informed North American customers that its northern bleached softwood kraft (NBSK) pulp price will decrease to $890/tonne, effective December 1 until further notice.
Voith Chairman Leaving Company
Peter Edelmann (52), Chairmann of the Management Board of Voith Turbo GmbH & Co. KG and Member of the Corporate Management Board of Voith GmbH is leaving the company upon his own request and by mutual agreement on the last day of the year.
IBM to acquire marketing analytics company DemandTec
IBM Corp. plans to acquire DemandTec Inc., whose cloud-based analytics service aids companies in setting price, promotion and merchandising tactics. The price is $440 million.
McGraw-Hill to cut 550 jobs in education business
McGraw-Hill Cos. has announced plans to cut 550 jobs, or 10% of its workforce, at McGraw-Hill Education. That move was among a number of initiatives McGraw-Hill unveiled Wednesday in an update on its plan, announced in September, to separate into two independent companies: McGraw-Hill Financial and McGraw-Hill Education.
Global Ad Spending Up 2011
Global ad expenditures will end the year at $464 billion, 3.5% higher than 2010, according to ZenithOptimedia, a Publicis Groupe company, then accelerate through 2014.
Heidelberg:Future Print Volumes
Heidelberg held its traditional end-of-year press briefing this week against a backdrop of extraordinary events in the industry and beyond.
With the situation at insolvent rival Manroland in flux, and the ongoing crisis in the Eurozone yet to be resolved, the world’s largest printing equipment manufacturer reaffirmed its confidence in the future of the industry.
Thursday, December 8, 2011
Manroland Great Britain Placed in Administration
Because of the insolvency of its parent company, manroland, Germany, manroland Great Britain has announced it has no other option but to also be placed in administration (similar to bankruptcy proceedings in the U.S.). The company is a supplier of printing machinery.
NYSE Notifies Verso of Unusual Market Activity
Verso Paper Corp. (NYSE:VRS) announced that the New York Stock Exchange, in accordance with its usual practice, contacted the company in view of unusual market activity in Verso’s common stock today. At the close of trading on the NYSE today, the price of Verso’s common stock was $1.44 per share, an increase of $0.33, or 30%, from the previous day’s closing price of $1.11 per share. In responding to the NYSE, Verso stated that its policy is not to comment on unusual market activity in its common stock.
Neenah Buyong Wausau Premium Brands
Neenah Paper has signed a definitive agreement to purchase certain premium brands, including Astrobrights and Royal, from Wausau Paper. The transaction has been approved by the boards of both companies and is subject to customary closing conditions.
The purchase would be financed through existing credit facilities and operating cash flows. Closing is expected to occur on Jan. 31, 2012 and additional details will be shared at that time.
Manistique Expects to Emerge from Bankruptcy End Q1 2012
Manistique Papers, Inc. has entered its final phase of financial reorganization with the mill operating near full capacity, according to officials. The mill has the capacity to produce 133M stpy of UGW on one PM.
A press release from MPI indicates the company filed paperwork with the United States Bankruptcy Court for the District of Delaware on Nov. 21 to enter its final planned stage of financial reorganization.
The actual process began last week, and is expected to be completed by March 2012. By reorganizing, MPI would be able to enter the process of selling the mill to a new equity holder with an appropriate debt structure.
Condé Nast/AdMeld Partners in Private Ad Exchange
In a major magazine publisher first, Condé Nast launched a private advertising exchange for select digital clientele. Partnering with service provider AdMeld, inventory from Condé’s entire digital portfolio was available at the time of the exchange’s launch.
Magazines, Year in Review
Face Up: 2011 Year in Review: 2011 was a year of redesigns and relaunches, as magazine covers aimed to provoke (and as a result, to sell). Some efforts amounted in positive buzz and hiked newsstand numbers; others inspired seemingly unending rounds of media heckling (Newsweek’s July 4th cover, which featured a very Photoshopped image of the late Princess Diana, here’s lookin’ at you).
Wausau Closing Brokaw Mill
Wausau Paper announced today that its Board of Directors has approved the sale of its premium Print & Color brands -- including Astrobrights(R), Astroparche(R) and the Royal family of products -- and closure of its Brokaw, Wisconsin, paper mill. The sale, to Neenah Paper, Inc., is scheduled to close on January 31, 2012. The Brokaw mill will be permanently closed by March 31, 2012, marking the end of the Company's material participation in the Print and Color markets. The Brokaw shutdown will affect approximately 450 hourly and salaried jobs.
USPS,Two Unions, Continue Negotiations to Midnight, Dec. 16
The Postal Service and two of its major unions have agreed to continue to extend separate labor contract negotiations. Although the contracts with the National Association of Letter Carriers, AFL-CIO (NALC) and the National Postal Mail Handlers Union, AFL-CIO (NPMHU) expired at m idnight Sunday, Nov. 20, the Postal Service and the two
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