Let’s look more at the $1 billion tax loss that is involved in the Port Hawkesbury Paper deal:
You may have heard the $1 billion figure thrown around in regards to the sale of NewPage Port Hawkesbury. Exactly what is the $1 billion in tax credits? Where did it come from? And how is it being transferred?
...Corporations aren’t taxed on their profits they may post during a year. They are taxed on their cumulative profit...NewPage Port Hawkesbury has accrued roughly $1 billion in tax losses that could be used to offset future profits...A mutually beneficial agreement with Nova Scotia Power could be the key to Pacific West Commercial Corp. successfully restarting and operating the mill.
Without a lower power rate, Pacific West Commercial Corp. would be no more likely to succeed than the mill’s recent two owners, NewPage and Stora Enso.
...What happens now that Canada Revenue Agency has denied the advanced tax ruling proposal...The Province of Nova Scotia has stepped in and offered to make more of its $124.5 million funding package for the mill forgivable.
ForestTalk.com.
Monday, September 17, 2012
NS Restructures Port Hawk. Package After CRA Rejection
Though Pacific West Commercial Corp. had said a ruling in its favour was a condition of restarting the mill, the company said in a release Friday that it expects it can restart the facility by the end of the month.
Natural Resources Minister Charlie Parker said the province’s package will be “restructured” so more of the loans are forgivable. He said details will be released early next week.
The province’s assistance, announced in August, included $40 million in repayable loans, $26.5 million in forgivable loans, $20 million for the province to buy land, and $38 million over 10 years to support sustainable harvesting and forest land management.
Parker said the changes won’t leave taxpayers pouring more money into Pacific West Commercial Corp.’s operation at the former NewPage Port Hawkesbury mill in Point Tupper.
ArjoWiggins Closing Detail; 100M mt, Denmark
Arjowiggins
Graphic is announcing its intent to stop production at the Dalum paper mill
located at Odense Denmark before the end of the year.
The
Odense site is currently operating a 100MT capacity paper machine. The whole
paper production will be transferred to the other paper mills of the
Arjowiggins Graphic division. The full paper range produced by the Dalum paper
mill will be maintained within Arjowiggins' portfolio and customers will be
offered the same quality and service.
The
European Graphic demand has been structurally reducing at an annual rate of 6%
since a few years, generating over capacity within the European graphic paper
industry. The planned closure of the Dalum paper mill will contribute to the
necessary capacity adjustment of the industry and allow the optimization of the
capacity utilization of the Arjowiggins Graphic division.
Q2 Wood Costs Drop
Wood costs for the world’s pulp industry continued downward in the 2Q/12 with the biggest ...: ... declines in Brazil, Russia, Australia and Europe, reports the Wood Resource Quarterly
The costs of wood fiber for many pulp mills throughout the world continued to fall in the 2Q/12 and were at their lowest levels in over a year, according to the Wood Resource Quarterly. The greatest declines were seen in Brazil, Australia, Russia, Spain and US northwest, and Eastern Canada.
Wood fiber costs for the world’s pulp mills were down again in the 2Q/2012. Prices for wood chips and pulplogs in both local currencies and in US dollars fell in most of the 17 regions tracked by the Wood Resource Quarterly.
The costs of wood fiber for many pulp mills throughout the world continued to fall in the 2Q/12 and were at their lowest levels in over a year, according to the Wood Resource Quarterly. The greatest declines were seen in Brazil, Australia, Russia, Spain and US northwest, and Eastern Canada.
Wood fiber costs for the world’s pulp mills were down again in the 2Q/2012. Prices for wood chips and pulplogs in both local currencies and in US dollars fell in most of the 17 regions tracked by the Wood Resource Quarterly.
Plan to Protect Boreal Forest
Boreal forest areas in Ontario’s Northeast to be protected
Forest company and conservation group signatories to the Canadian Boreal Forest Agreement (CBFA) welcome Ontario’s support recently of their approach and joint recommendations on an action plan for an area of the province’s boreal forest almost five times the size of Metro Toronto.
The action plan recommendations aim to secure the future of the 3 million hectares of caribou range in the Abitibi River Forest to conserve Boreal woodland caribou and maintain hundreds of jobs in forestry.
Forest company and conservation group signatories to the Canadian Boreal Forest Agreement (CBFA) welcome Ontario’s support recently of their approach and joint recommendations on an action plan for an area of the province’s boreal forest almost five times the size of Metro Toronto.
The action plan recommendations aim to secure the future of the 3 million hectares of caribou range in the Abitibi River Forest to conserve Boreal woodland caribou and maintain hundreds of jobs in forestry.
Restoration Hardware Becomes RH
Restoration Hardware today announced the rebranding of the Company to RH, reflecting the current positioning and future direction of the brand.
Gary Friedman, RH Creator and Curator commented, "Today's RH is a far cry from the hardware and nostalgic discovery item based business it once was. Currently, we circulate four Source Books twice yearly, RH Home, RH Big Style Small Spaces™, RH Outdoor, and RH Baby & Child totaling over 1,400 pages of inspired design." Mr. Friedman continued, "The new branding positions us for the future and reflects our belief that we can curate a lifestyle beyond the four walls of the home."
"RH enhances our identity and moves us beyond our Hardware store beginnings," stated RH, CEO Carlos Alberini. "It enables us to leverage our core capabilities of innovation, curation, and integration of new ideas and businesses."
The new branding will debut on the cover of the Company's newly designed Fall 2012 Home and Big Style Small Spaces™ Source Books.
'WSJ.' Builds Towards Monthly Editions
'WSJ.' magazine to boost frequency: WSJ. magazine will increase its frequency starting next year. The magazine, which is part of WSJ Weekend, will publish 11 issues in 2013, up from 10 this year. The frequency will grow to 12 issues starting in 2014.
Time Inc. CEO's New Print/Digital PLan
Lang wants to give customers the ability to advertise across all 21 of Time Inc.’s magazines, both on the Web and in print, potentially reaching an audience of 127 million people in one fell swoop. That’s a break from the previous strategy, where the company typically suggested doing marketing campaigns via specific brands -- say, the print edition of People or Time.
2012 Report: $28 Billion Book Publishers Industry
http://www.heraldonline.com/2012/09/14/4263330/research-and-markets-2012-report.html
The US book publishing industry consists of about 2,800 companies with combined annual revenue of about $28 billion. Major companies include John Wiley & Sons, McGraw-Hill, Pearson, and Scholastic, as well as publishing units of large media companies such as HarperCollins (owned by News Corp); Random House (owned by Bertelsmann); and Simon & Schuster (owned by CBS). The industry is highly concentrated: the top 50 companies generate about 80 percent of revenue.
...The industry is capital-intensive: average annual revenue per worker is about $385,000... Textbooks and adult trade books each account for more than 25 percent of the market, professional books 23 percent, children's books 8 percent, and reference books 6 percent.
About 315,000 new books are published in the US every year, according to Bowker.
RRD to Close Tennessee Plant
RR Donnelley to Close Johnson City (TN) Location, 111 Affected: The Tennessee Department of Labor and Workforce Development says it received notification from RR Donnelley that it will permanently close its facility at 3201 Kimberly Court in Johnson City in early to mid November.
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