Catalyst Paper to File for Creditor Protection

Catalyst Paper to file for creditor protection:

Catalyst Paper Corporation has announced that to facilitate an orderly restructuring of its business and operations, the board of directors of the company has approved a filing for an Initial Order from the Supreme Court of British Columbia to commence proceedings under the Companies’ Creditors Arrangement Act (CCAA). The terms and conditions of the restructuring plan have not yet been determined by the company.

xpedx Closing Stores Division

xpedx Closing Stores Division: xpedx has announced the closing of the Stores division. The press release read, in part: This year xpedx will realign operations... This means we will transition away from our current stores business model, to servicing many customers from xpedx’s well established distribution network.

Domtar to Sell Closed Mill to Fortress

Domtar enters agreement to sell closed Lebel-sur-Quévillon mill to Fortress for $1:
Domtar Corporation has announced that it has signed a definitive agreement with Fortress Global Cellulose Ltd, and with a subsidiary of the Government of Québec, for the sale of its Lebel-sur-Quévillon assets. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2012.

Penton Names CEO

Penton names Kieselstein CEO: Penton Media, publisher of Registered Rep. and Supermarket News, has named David Kieselstein as CEO. He was previously CEO of TNS North America, a custom research division of WPP.

Manroland Sells Augsburg Plant 2/1

Manroland break-up to begin tomorrow with Augsburg sale: Manroland's administrator has confirmed that the break-up of the German manufacturer will begin tomorrow (1 February) with the sale of the Augsburg web offset facility.