Catalyst Paper has been given a second chance to avoid selling its three B.C. mills to the highest bidder after a B.C. Supreme Court justice ruled that the needs of communities, pensioners and employees should be weighed along with legal issues in a bitter restructuring battle among creditors over the fate of the coastal paper giant. In ruling Monday that Catalyst can hold a second vote of its creditors on June 25, Justice Robert Sewell noted that he was taking into account community matters. An initial vote held May 23 on a restructuring plan narrowly failed to get enough support, forcing the papermaker to embark on a plan to sell its mills to the highest bidder. Secured creditors supported the original plan. Some unsecured creditors fought it.
Wednesday, June 20, 2012
Catalyst Gets Second Chance To Restructure
http://www.vancouversun.com/business/Catalyst+gets+second+chance+restructure/6811035/story.html
Catalyst Paper has been given a second chance to avoid selling its three B.C. mills to the highest bidder after a B.C. Supreme Court justice ruled that the needs of communities, pensioners and employees should be weighed along with legal issues in a bitter restructuring battle among creditors over the fate of the coastal paper giant. In ruling Monday that Catalyst can hold a second vote of its creditors on June 25, Justice Robert Sewell noted that he was taking into account community matters. An initial vote held May 23 on a restructuring plan narrowly failed to get enough support, forcing the papermaker to embark on a plan to sell its mills to the highest bidder. Secured creditors supported the original plan. Some unsecured creditors fought it.
Catalyst Paper has been given a second chance to avoid selling its three B.C. mills to the highest bidder after a B.C. Supreme Court justice ruled that the needs of communities, pensioners and employees should be weighed along with legal issues in a bitter restructuring battle among creditors over the fate of the coastal paper giant. In ruling Monday that Catalyst can hold a second vote of its creditors on June 25, Justice Robert Sewell noted that he was taking into account community matters. An initial vote held May 23 on a restructuring plan narrowly failed to get enough support, forcing the papermaker to embark on a plan to sell its mills to the highest bidder. Secured creditors supported the original plan. Some unsecured creditors fought it.
Nova Scotia Forms Bowater Response Team
Nova Scotia forms Bowater Response Team:
The Government of Nova Scotia has formed a Bowater Response Team to help support workers, families and small businesses owners on the province’s south shore in the wake of Resolute Forest Product‘s decision to close the Bowater Mersey mill.
Nova Scotia Carefully Weighing Bowater Land Purchase
http://thechronicleherald.ca/opinion/109011-ns-carefully-weighing-bowater-land-purchase
Why does the province buy land? The question was raised this week as Nova Scotians heard the devastating news about the closure of the Bowater Mersey paper mill in Liverpool.
Open Letter by Dave Coles, President of Communications, Energy and Paperworkers Union of Canada
http://www.newswire.ca/en/story/996673/open-letter-by-dave-coles-president-of-communications-energy-and-paperworkers-union-of-canada
The Government of Nova Scotia has formed a Bowater Response Team to help support workers, families and small businesses owners on the province’s south shore in the wake of Resolute Forest Product‘s decision to close the Bowater Mersey mill.
Nova Scotia Carefully Weighing Bowater Land Purchase
http://thechronicleherald.ca/opinion/109011-ns-carefully-weighing-bowater-land-purchase
Why does the province buy land? The question was raised this week as Nova Scotians heard the devastating news about the closure of the Bowater Mersey paper mill in Liverpool.
Open Letter by Dave Coles, President of Communications, Energy and Paperworkers Union of Canada
http://www.newswire.ca/en/story/996673/open-letter-by-dave-coles-president-of-communications-energy-and-paperworkers-union-of-canada
Norske Skog Invests In Halden Norway Mill
http://www.norskeskog.com/default.aspx?ID=2019&feed=-N-105-PR-201206-1620965
Norske Skog will invest NOK 220 million in an expansion and renewal of the thermo-mechanical pulp plant at Norske Skog Saugbrugs in Halden. The old pulp plant will be replaced by a modern facility, which will supply pulp to the paper machines at a much lower cost than today.
Norske Skog will invest NOK 220 million in an expansion and renewal of the thermo-mechanical pulp plant at Norske Skog Saugbrugs in Halden. The old pulp plant will be replaced by a modern facility, which will supply pulp to the paper machines at a much lower cost than today.
AF&PA Releases May 2012 Reports
The American Forest & Paper Association released its May 2012 Kraft Paper Sector Report on Tuesday. Total Kraft paper shipments were 139.2 thousand tons, an increase of 2.3% compared to May 2011. Total inventory was 70.1 thousand tons the month. Total Bleached Kraft shipments increased year over year for all months in 2012.
The American Forest & Paper Association released its May 2012 U.S. Paperboard Report today. Total boxboard production decreased by 0.3% compared to May 2011 but increased 2.8% from last month. Unbleached Kraft Folding production increased over the same month last year and increased compared to last month. Total Solid Bleached Boxboard & Liner production increased compared to April 2011 and increased compared to last month. The production of Recycled Folding decreased compared to April 2011 but increased when compared to last month.
The American Forest & Paper Association (AF&PA) released its May 2012 U. S. Containerboard Statistics Report yesterday. Containerboard production rose 1.3% over the same month last year and 7.2% compared to April 2012. The month over month average daily production also reflect an increase of 3.7%. The containerboard operating rate for May 2012 gained 3.7 points over April 2012, from 91% to 94.7%.
The American Forest & Paper Association released its May 2012 U.S. Paperboard Report today. Total boxboard production decreased by 0.3% compared to May 2011 but increased 2.8% from last month. Unbleached Kraft Folding production increased over the same month last year and increased compared to last month. Total Solid Bleached Boxboard & Liner production increased compared to April 2011 and increased compared to last month. The production of Recycled Folding decreased compared to April 2011 but increased when compared to last month.
The American Forest & Paper Association (AF&PA) released its May 2012 U. S. Containerboard Statistics Report yesterday. Containerboard production rose 1.3% over the same month last year and 7.2% compared to April 2012. The month over month average daily production also reflect an increase of 3.7%. The containerboard operating rate for May 2012 gained 3.7 points over April 2012, from 91% to 94.7%.
RRD Recognized With Award
RR Donnelley Recognized With Sears Canada Partners in Progress Award...:
R. R. Donnelley & Sons Company today announced that it has been recognized as the 2011 Sears Canada Inc. Partner in Progress for Specialty Services Supplier of the Year in honor of its performance in supporting Sears Canada with catalog and other printing, logistics and related services.
R. R. Donnelley & Sons Company today announced that it has been recognized as the 2011 Sears Canada Inc. Partner in Progress for Specialty Services Supplier of the Year in honor of its performance in supporting Sears Canada with catalog and other printing, logistics and related services.
Data Management, List Management, Marketing Tips
http://www.delivermagazine.com/2012/06/test-for-success/
When marketers discuss how direct mail fits into their overall campaign efforts, it is often described as the “workhorse” — dependable, reliable and effective; the channel that guarantees a tactile piece of marketing material will reach a prospect’s mailbox.
When marketers discuss how direct mail fits into their overall campaign efforts, it is often described as the “workhorse” — dependable, reliable and effective; the channel that guarantees a tactile piece of marketing material will reach a prospect’s mailbox.
Toshiba Puts ‘No Print Day’ On Hold
Toshiba Puts ‘No Print Day’ on Hold, Reports Printing Industries of America: According to a special announcement sent out by Michael Makin, president and CEO of Printing Industries of America, “Toshiba has agreed to abort its National No Print Day!”
Nippon Announces Joint Venture In Thailand
Nippon Paper announces joint venture with SCG Paper in Thailand
Nippon Paper Group, Inc.and SCG Paper have investigated ways in which they could collaborate to develop their business. The companies have now agreed to establish in Thailand a joint venture company with a 55% equity investment from Nippon Paper Group in the industrial paper sector, displaying their strengths in growing market. The joint venture company plans to install a new paper machine which features annual production capacity of 43,000 tons on the existing SCG Paper production site. The start-up is scheduled for the first quarter of 2014.
Nippon Paper Group, Inc.and SCG Paper have investigated ways in which they could collaborate to develop their business. The companies have now agreed to establish in Thailand a joint venture company with a 55% equity investment from Nippon Paper Group in the industrial paper sector, displaying their strengths in growing market. The joint venture company plans to install a new paper machine which features annual production capacity of 43,000 tons on the existing SCG Paper production site. The start-up is scheduled for the first quarter of 2014.
Sappi In $300M Offering
Sappi in $300m offering:
Paper and pulp group Sappi Limited on Wednesday announced the offering of US$300 million aggregate principal amount of senior secured notes due 2017.
Paper and pulp group Sappi Limited on Wednesday announced the offering of US$300 million aggregate principal amount of senior secured notes due 2017.
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