The PPPC has reported that North American Uncoated woodfree shipments declined by -4.9% in December as compared to the same month last year. For 2011, shipments were down 3.3%. Demand for the month decreased -3.3% and for the full year it fell -3.4%. Imports rose +3.1% in December, but declined -2.9% for the whole of the year.
Friday, January 20, 2012
Sappi North America Names Mill Managing Directors
http://www.paperage.com/2012news/01_20_2012sappi_leadership_mills.html
Sappi Fine Paper North America has appointed Rick Dwyer as managing director of the company’s Cloquet mill in Minnesota. Sappi also reported that it has named Mike Haws as managing director of the Somerset mill in Maine. The facilities produce coated woodfree paper.
White Birch Owners and Unions in Talks
http://www.labour-reporter.com/articleview/12160-white-birch-paper-to-meet-with-quebec-workers-union
The owners of a Quebec pulp mill who announced the permanent shut down the plant last week will meet with its unionized employees to find a way to reopen the mill, according to a union press release.
The decision is welcome news to the Communications, Energy and Paperworkers (CEP) Union-Quebec, who represent the mill's workers.
The Quebec government decided to intervene in the dispute after the mill's 600 workers were laid off as a result of the closure. White Birch president Christopher Brant met with Quebec Economic Development Minister Sam Hamad on Jan. 16 to discuss options.
31% of Delivered Digital Ads Are Not Seen
http://www.foliomag.com/2012/comscore-debuts-digital-ad-measurement-solution
In a new study undertaken by comScore found that 31 percent of digital ads are delivered, but not seen by consumers.
Magazine News Roundup
http://www.foliomag.com/2012/atlantic-media-taps-editor-chief-new-global-business-brand
The Atlanta Media Company has named Kevin Delaney as editor-in-chief of its digital global business brand (as yet untitled). Mr. Delaney’s most recent work was as managing editor of the Wall Street Journal Online.
http://www.adweek.com/news/press/hearst-names-first-cto-137597
Hearst named Philip Wiser as its first chief technology officer. Mr. Wiser was most recently CTO of Sony Corp.
http://www.pubexec.com/article/martha-stewart-living-omnimedia-inc-names-peter-medwid-publisher/1
Martha Stewart Living Omnimedia has named Peter Medwid as Senior Vice President and Publisher of Martha Stewart Living, Christina Cranley as SVP and Publisher of Everyday Food and Whole Living.
http://www.adweek.com/news/press/week-snags-mens-journal-publisher-137590
Michael Wolfe, most recently publisher of Wenner’s Men’s Journal, has been named publisher of The Week.
Postal Rate Increases Effective Sunday/USPS Request PRC to Move Up Review of Plans
http://www.presort.com/2012/01/19/usps-urges-regulators-to-speed-up-review-of-network-cutbacks/
On Sunday, January 22, First Class Mail prices will jump 2.133% overall; stamps will be $0.45. Standard Mail (direct mail and catalogues) will go up 2.124% overall, Periodicals (magazines) will increase 2.133% overall and Package Services will rise 2.133% overall.
Separately, the USPS has asked the Postal Regulatory Commission to review the Postal Services plan to cut costs, including a slowdown First Class mail delivery, closing post offices and other options. The current deadline for the PRC’s non-binding advisory opinion is July 10, at the earliest; the USPS would like to move the date to mid-April. Several bills to address the on-going financial struggles of the Postal Service are before Congress.
manroland Divided into Three Units
manroland to be divided into 3 units: The creditors' committee under the guidance of provisional insolvency administrator Werner Schneider and chief representative of manroland Dr. Frank Kebekus was able to reach an amicable solution for an investor concept in the course of the company's insolvency proceedings. During the meeting, which took place on Wednesday in Augsburg, the solution to divide the company into three independent units turned out to be the preferred solution.
Thursday, January 19, 2012
Preliminary 2011 Coated Paper Shipments Reported
The Pulp and Paper Products Council has published coated paper shipments and demand numbers for the month of December and the whole of 2011. Coated mechanical paper shipments fell -10.2% in December as compared to the same month last year and were down -7.6% for the year. Demand decreased -13.4% for the month and -8.6% for 2011. Imports declined -29.4% in December and -13.4% for the full year. Coated woodfree shipments rose slightly, up +0.5% in December, but fell -4.1% in 2011. Demand was down -2.5% for the month and -2.8% for the year. Imports decreased -8.6% in December, but jumped +3.1% for 2011.
Resolute Forests Products Extends Shut Down of Mill
Resolute Forest Products, which temporarily closed its Fort Frances, Ontario uncoated mechanical mill in November, has announced it will continue the shut down until the end of January or until “…market conditions improve.”
Online Spending Up 23% in 2011
http://adage.com/article/mediaworks/emarketer-online-ad-spending-pass-print-time/232221/
Advertising spending on line grew to $32.03 billion in 2011, up 23%. eMarketer forecasts online ads will rise an additional 23.3%, to $39.5 billion, in 2012. The group is predicting that print ad expenditures in magazines will increase from $15.3 billion in 2011 to $15.4 billion in 2012. Total printed ads are forecast to decline, however, because of the decrease in newspaper advertising, from $36 billion in 2011 to $33.8 billion in 2012.
NewPage Port Hawkesbury Granted Extension
NewPage Port Hawkesbury was granted an extension to its creditor protection period in court today.
The company and its receiver Ernst & Young now have until the end of March to negotiate a final sale agreement with Pacific West Commercial Corp.
manroland to Become Three Independent Units
manroland to be divided into 3 units: The creditors' committee under the guidance of provisional insolvency administrator Werner Schneider and chief representative of manroland Dr. Frank Kebekus was able to reach an amicable solution for an investor concept in the course of the company's insolvency proceedings. During the meeting, which took place on Wednesday in Augsburg, the solution to divide the company into three independent units turned out to be the preferred solution.
Eastman Kodak Files for Chapter 11 Reorganization
Eastman Kodak announced today that it and its U.S. subsidiaries filed voluntary petitions for Chapter 11 business reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
Wednesday, January 18, 2012
Resolute Forest Products Next Step in Bid for Fribrek
Resolute Updates Status of its Offer for Fibrek: AbitibiBowater Inc., doing business as Resolute Forest Products ("Resolute") (NYSE: ABH) (TSX: ABH), today announced that it filed an application with the Bureau de révision et décision (Québec), the administrative tribunal with statutory jurisdiction in securities law and regulatory matters in the province, for an order to cease trade Fibrek Inc.'s (Fibrek, TSX: FBK) shareholder rights plan (the "tactical poison pill").
Catalyst Paper Recapitalization Plan
Catalyst Paper Corporation announced today that it has applied for and received an initial court order under the Canada Business Corporations Act (CBCA) to commence the consensual restructuring process with its noteholders announced on January 14, 2012.
Contrary to certain media reports this is not a bankruptcy proceeding.
The company is also seeking recognition of these proceedings with the US Court in order for the Canadian order under the CBCA to be recognized in the United States.
The company will continue to operate and satisfy its obligations to trade creditors, customers, employees and retirees in the ordinary course of business during this restructuring process.
NewPage Port Hawkesbury Requests Third Extension
NewPage Port Hawkesbury will ask the court for a third extension, until March 30, to their Stay Period under the Companies’ Creditors Arrangement Act (CCAA). The company requires the additional time to complete the proposed sale of the Nova Scotia mill to Pacific West Commercial Corp. The company will also inform the court that all of the officers of NewPage Port Hawkesbury, excepting Mill Manager Tor Suther and Controller Jacques Beaudoin, plan to resign to avoid a conflict of interest as they are also on the board of the parent company, NewPage Corp., of Ohio. The company is seeking approval from the court of the appointment of Peter Wedlake (of Green Hunt Wedlake Inc.) as Chief Restructuring Officer (CRO) of NewPage Port Hawkesbury after the resignations.
Two Potential Buyers for manroland
Two Potential manroland Suitors Identified: An earlier news item indicated an imminent decision was coming regarding the future of manroland and its assets relative to the ongoing insolvency proceedings.
A decision was to be coming today. The potential suitors have been identified by several reports to be U.S. venture capital firm Platinum Equity and Germany's Possehl, a conglomeration of more than 130 different companies.
A decision was to be coming today. The potential suitors have been identified by several reports to be U.S. venture capital firm Platinum Equity and Germany's Possehl, a conglomeration of more than 130 different companies.
Tuesday, January 17, 2012
Stora Enso Reorganizes Business Areas and Reporting Segment Structure
Stora Enso is realigning its business as follows: the paper reporting segments Newsprint and Book Paper, Magazine Paper and Fine Paper will be combined into Printing and Reading, headed by EVP Juha Vanhainen. Consumer Board and Industrial Packaging will become the Renewable Packaging Business Area and Reporting Segment headed by EVP Mats Nordlander. A new business unit composed of pulp mills and wood plantations is called Biomaterials and headed by EVP Juan Bueno. Lastly, the Wood Products Business had been renamed Building and Living and will be headed by EVP Hannu Kasurinen.
Publishers Find New Venue for Single Copy Sales
Selling printed back issues of magazines has always proved a challenge for publishers; now they are finding that digital subscriptions, which offer single issues, are a practical avenue. At Hearst Magazines, 30% of the single copies sold on tablets are back issues, according to president David Carey. Hearst sells digital editions of many of its titles including Cosmopolitan, Esquire and Popular Mechanics on the iPad; single issues represent 10% - 15% of its digital editions volume and back issues make up some 4% of the total. Carey calls back issues the “long tail” of digital editions… making our ‘back list’ more easily accessed by readers.” Bonnier has had a similar experience. Its Popular Science magazine back issues have accounted for 40% of the single digital copies sold this year. For Martha Stewart Omnimedia, titles Martha Stewart Living and Everyday Food report that 25% of their digital single copies sold on the iPad are back issues.
Sappi Names CFO
Sappi Announces Steve Binnie to Succeed Mark Thompson as Chief Financial Officer:
Sappi has announced the appointment of Steve Binnie as Chief Financial Officer. Mr. Binnie is currently the CFO of Edcon (Pty) Ltd and will replace the retiring Mark Thompson. He is joining Sappi on July 9th.
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