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.
Tuesday, January 17, 2012
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.
DS Smith Buys SCA Packaging Operations
DS Smith launches £1.4bn bid for SCA Packaging: DS Smith has launched a £1.4bn reverse takeover bid for SCA's packaging division, in a deal that would make it the largest corrugated and second largest packaging business in Europe with a turnover of around £4bn.
Heidelberg Announces Efficiency Program to Improve Profitability
Heidelberg Moving Forward with Measures to Achieve Profitability Targets: HEIDELBERG, GERMANY—Jan. 17, 2012—As announced in November 2011, the management board of Heidelberger Druckmaschinen AG (Heidelberg) has agreed on the “FOCUS 2012” efficiency program to achieve the company’s profitability targets. The aim is to ensure that its target operating result before special items of around €150 million is still achieved in financial year 2013/14 and the company can independently continue to build on its leading position in the future.
Pharmaceutical Representative Magazine Closes
Advanstar’s Pharmaceutical Representative Folds: After a 41-year run, Pharmaceutical Representative magazine will fold. The January 2012 issue will be its last, as the magazine closes after 492 issues.
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