Monday, April 2, 2012
AF&PA Issues Annual Study
AF&PA Releases Paper, Paperboard, and Pulp Capacity Survey: The American Forest & Paper Association (AF&PA) today released the 52nd Annual Survey of Paper, Paperboard and Pulp Capacity, reporting that U.S. paper and paperboard capacity decline slowed to 1.4% in 2011 to a level of 89.7 million short tons.
More on Resolute/Fibrek
Steelhead will refrain from tendering Fibrek shares to AbitibiBowater:
Following the announcement made on March 31, 2012 by Steelhead Partners, LLC and its affiliates, Fibrek Inc. understands that Steelhead, the second largest shareholder of AbitibiBowater, intends not to tender any of its Fibrek shares to the unsolicited insider bid made by AbitibiBowater Inc. (doing business as Resolute Forest Products) until the minimum tender condition contained in the Abitibi bid has been met.
Following the announcement made on March 31, 2012 by Steelhead Partners, LLC and its affiliates, Fibrek Inc. understands that Steelhead, the second largest shareholder of AbitibiBowater, intends not to tender any of its Fibrek shares to the unsolicited insider bid made by AbitibiBowater Inc. (doing business as Resolute Forest Products) until the minimum tender condition contained in the Abitibi bid has been met.
Resolute Extends Offer for Fibrek
Resolute reduces minimum tender condition and extends its offer for Fibrek:
AbitibiBowater Inc., doing business as Resolute Forest Products, has announced that it has reduced to 59,502,822 shares the minimum tender condition of its offer to acquire all of the issued and outstanding shares of Fibrek Inc.
AbitibiBowater Inc., doing business as Resolute Forest Products, has announced that it has reduced to 59,502,822 shares the minimum tender condition of its offer to acquire all of the issued and outstanding shares of Fibrek Inc.
St. Mary's Sold
http://www.northernontariobusiness.com/Around-the-North/120326/St--Marys-sale-approved.aspx
The sale of shuttered St. Marys Paper, which produced Supercalendered paper, in Sault Ste. Marie has been approved by an Ontario court.
On March 26, authorization was given for the sale to numbered company 2319839 Ontario Inc., which has been described by manager and receiver Ernst & Young as “a consortium of companies including an auctioneer, a real estate development company, a metals recycling company and a forest products company.”
“The receiver understands that the purchaser may potentially seek to redevelop the mill into a biomass facility with a cogeneration plant while liquidating the mill assets,” reads Ernst & Young's report.
NewPage Invests in Mill
NewPage is investing $15.8 million in capital
improvements to its Luke, MD coated freesheet paper mill.
Appleton to Begin Cuts in May
Appleton Papers Inc. will start cutting staff at its West Carrollton plant in May, according to a filing with the state of Ohio.
The Wisconsin papermaker, which said earlier this year it would be ending paper production in West Carrollton and cut 330 jobs, will start the local layoffs on May 20 or within 14 days after that date.
MPA Develops Metrics
MPA announced it has developed voluntary tablet metrics guidelines. Among the guidelines are five metrics: total consumer paid digital issues, total number of tablet readers per issue, total number of sessions per issue, total time spent per reader per issue and average number of sessions per reader per issue.
Hudson News/Comag Deal
Hudson News Takes Minority Stake in Comag: According to several sources, Hudson News president James Cohen is taking a minority stake in Comag Marketing Group. will remain in his position as well.
The deal signals another major shift in the magagzine newsstand supply chain, bringing once disparate players closer together.
The deal signals another major shift in the magagzine newsstand supply chain, bringing once disparate players closer together.
New USPS Option for Direct Mailers
The U.S. Postal Service plans to allow direct mailers to include logos, trademarks, brand images and other kinds of marketing designs in the printed postage information area of their mail pieces.
Postmaster General Lays Out Vision
Postmaster General Lays Out Vision for Mailing Industry at Postal Forum: In a keynote address to open the National Postal Forum, Patrick R. Donahoe, Postmaster General and CEO of the U.S. Postal Service, today discussed the transformative power of technology and innovation in the mailing industry.
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