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.
Monday, October 22, 2012
PPPC Reports Coated & SC Paper Ships
The Pulp & Paper Products Council has reported year-to-date (through September) North American coated mechanical paper shipments declined by -3.6%. Demand fell -4.1% and imports were down -4.6%. The operating rate was 94% y-t-d and 103% for the month of September. Coated woodfree shipments decreased -4.3%, demand fell -6.2% and imports were down -12.8%. The operating rate was 88% y-t-d and 96% in September.
North American SC-A/SC-A+ year-to-date paper shipments declined -26.2%, demand decreased -26.5% and imports fell -21.9%. The operating rate for Supercalendered papers (SC-A and SC-B grades) was 95% y-t-d and 93% in September.
North American SC-A/SC-A+ year-to-date paper shipments declined -26.2%, demand decreased -26.5% and imports fell -21.9%. The operating rate for Supercalendered papers (SC-A and SC-B grades) was 95% y-t-d and 93% in September.
Resolute Announces Fort Frances Downtime
2 weeks downtime in Fort Frances:
Resolute Forest Products is taking 2 weeks of downtime at its Fort Frances, Ontario mill starting on October 28.
Both the kraft and paper (uncoated mechanical) operations will be affected.
A lack of orders is being blamed for the downtime.
Resolute Forest Products is taking 2 weeks of downtime at its Fort Frances, Ontario mill starting on October 28.
Both the kraft and paper (uncoated mechanical) operations will be affected.
A lack of orders is being blamed for the downtime.
MeadWestvaco to Buy Ruby Macons, India
MeadWestvaco Announces Acquisition of Ruby Macons in India:
MeadWestvaco Corporation, a global leader in packaging and packaging solutions today announced a definitive agreement with Mr. Alibhai Nathani and family to purchase Ruby Macons Limited ("Ruby Macons"), India's top producer of corrugated packaging materials and a leader in the country's growing industrial packaging industry. Terms of the transaction were not disclosed.
MeadWestvaco Corporation, a global leader in packaging and packaging solutions today announced a definitive agreement with Mr. Alibhai Nathani and family to purchase Ruby Macons Limited ("Ruby Macons"), India's top producer of corrugated packaging materials and a leader in the country's growing industrial packaging industry. Terms of the transaction were not disclosed.
Time.com Relaunches With Responsive Design
Time.com Relaunches With Responsive Design: To provide a more consistent look and feel to its readers, Time magazine has re-launched its website using responsive design technology, which automatically reformats a website to fit all computer and device screens.
Time magazine says it isn’t going to follow Newsweek’s move to a digital-only publication [1]. But nor is it ignoring the shift towards mobile news reading. And so Oct. 21, Time moved its site to responsive design so that the content automatically “snaps” to the frame, regardless of screen size (no more pinching and zooming). At the same time, Time redesigned its site across all platforms so that the content and user experience are uniform across all devices.
Forbes, Martini Media in Ad Deal
In a deal that's unconventional even for the likes of Forbes, the business news brand reached a deal with digital ad company Martini Media to integrate the magazine's staff-written editorial content into ads for blue-chip advertisers. And while there are plenty of native ad units that combine branded editorial content with the advertiser's own material, what's notable about these units is that they're running outside of the Forbes ecosystem.
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