Monday, August 20, 2012
North American Coated Paper July Ships
As reported by the Pulp & Products Council, July North American coated mechanical shipments rose +0.3% in July as compared to the same period last year. Demand increased +2.5% and imports jumped +39.8%. The operating rate was 90%. Coated woodfree shipments for the month fell -0.9%, demand decreased -1.6% and imports declined -26.2%. The operating rate was 88%.
EURO-GRAPH Releases Revisions
EURO-GRAPH reported revised H1 European figures as follows: coated mechanical shipments for H1 2012/H1 2011 fell -7.1%, demand declined -9.5% and exports grew +1.7%. Coated woodfree shipments were down -3%, demand fell -0.9% and exports decreased -8.5%. Supercalendered paper shipments declined -3.6%, demand was down -1.5% and exports decreased -12.2%.
Verso's Paterson Discusses Strategy
Verso's new boss, David J. Paterson, explains survival strategy:
Pick up a nice magazine or catalog and it's likely the glossy pages were made by a Memphis company called Verso Paper Corp.
But Verso has run up losses in three years that total $350 million.
So how does the Memphis company survive?
Verso’s new boss is adamant. The company, with annual sales that surpass $1 billion, will hang on.
Pick up a nice magazine or catalog and it's likely the glossy pages were made by a Memphis company called Verso Paper Corp.
But Verso has run up losses in three years that total $350 million.
So how does the Memphis company survive?
Verso’s new boss is adamant. The company, with annual sales that surpass $1 billion, will hang on.
Kruger Union Approves Proposal
Kruger
Inc. is pleased to announce that active and retired unionized employees of
Corner Brook Pulp and Paper have approved the proposal to apply funding relief
measures to their pension plan's deficit.
These
relief measures were essential to the Mill's ability to compete in the market
and will enable the Company to pursue its assessment of the Mill's long-term
viability. The next step will be for the Company to present a sustainability
plan to its lenders and to the NL government within the coming weeks.
Norske Skog Plans Newsprint PM Closure
Norske Skog Tasman Mill in Kawerau faces an
uncertain future as the company looks to cut costs.
The
mill's 300 employees were told yesterday that the company proposed to close
down one of the pulp and paper mill's two paper machines.
A
statement from management said the mill needed to "reduce capacity by
150,000 tonnes in the face of declining global and regional demand for
newsprint".
Norske Skog Makes Management Changes
Norske Skog announces changes in corporate management
Norske Skog's corporate management will be reduced from seven to three members with effect from 1. September 2012. The new team will consist of CEO Sven Ombudstvedt, Chief Financial Officer (CFO) Rune Gjessing and Chief Operating Officer (COO) Trond Stangeby.
Norske Skog's corporate management will be reduced from seven to three members with effect from 1. September 2012. The new team will consist of CEO Sven Ombudstvedt, Chief Financial Officer (CFO) Rune Gjessing and Chief Operating Officer (COO) Trond Stangeby.
Nippon Paper 's Fight Back After Earthquake/Tsunami
Nippon Paper bounces back after the tsunami - Part II: One of Japan's giant pulp and paper companies, the Nippon Paper Group (NPG) has made a quick recovery after being hit hard when the devastating earthquake struck in the north of the country in March 2011. Read Part I here.
AF&PA Releases Kraft Paper Sector Report
AF&PA July 2012 Kraft Paper Sector Report: The American Forest & Paper Association released its July 2012 Kraft Paper Sector Report yesterday. Total Kraft paper shipments were 138,000 tons, an increase of 3 percent compared to June 2012. Total inventory was 78,700 tons this month.
MPA Names President, CEO
MPA Selects Mary Berner to Replace Nina Link as President, CEO: The MPA, the Association of Magazine Media, has selected a new leader after 13 years—Mary Berner will replace outgoing Nina Link as the group’s new president and CEO effective September 17.
Most recently, Berner was president and CEO of Reader’s Digest Association (RDA), a position she vacated in April 2011. Berner had guided RDA through a pre-packaged bankruptcy, officially emerging from Chapter 11 protection in February 2010. A year later, she left the company just as it named a new board of directors.
Most recently, Berner was president and CEO of Reader’s Digest Association (RDA), a position she vacated in April 2011. Berner had guided RDA through a pre-packaged bankruptcy, officially emerging from Chapter 11 protection in February 2010. A year later, she left the company just as it named a new board of directors.
Condé Nast Invests in Flite
Magazine publishers have been criticized for being slow to meet advertisers’
demands for performance metrics, but Condé Nast is taking a step in that
direction with an investment in Flite [1], a cloud-based platform that lets brands
measure and adjust their ads in real time.
Condé Nast has been a client of Flite's along
with other publishers including Hearst Magazines, Forbes, Tribune Interactive
and Federated Media; after today's announcement, it now owns 11 percent of it.
Quebecor Inc. Reports Q2 Results
Quebecor Inc. today reported its consolidated financial results for the second quarter of 2012.
Second quarter 2012 highlightsRevenues: $1.09 billion, up $33.0 million (3.1%) from the second quarter of 2011.
Operating income:(1) down $0.7 million (-0.2%) to $357.8 million.
Net income attributable to shareholders: $67.0 million ($1.05 per basic share), up $11.8 million ($0.19 per basic share) from $55.2 million ($0.86 per basic share) in the second quarter of 2011.
Adjusted income from continuing operations:(2) $48.7 million ($0.77 per basic share), down $11.3 million ($0.16 per basic share) from $60.0 million ($0.93 per basic share) in the second quarter of 2011.
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