http://www.piworld.com/aggregatedcontent/117-lose-jobs-when-donnelley-printing-plant-windsor-ct-closesRR Donnelley & Sons is closing its Windsor, CT location in March, putting 117 people out of work. The company is required by law to let the state Department of Labor know about its plans two months ahead of the layoffs, and it did so on Monday.
Monday, January 23, 2012
Standard Register Announces Restructuring
Standard Register Announces Strategic Restructuring, Workforce Reduction: Standard Register announced a strategic restructuring program to better align the company’s resources in support of its growing core solutions business and to reduce costs to offset the impact of to offset the impact of declining revenue in its legacy operations.
Friday, January 20, 2012
Uncoated Woodfree Shipments Fell in December
The PPPC has reported that North American Uncoated woodfree shipments declined by -4.9% in December as compared to the same month last year. For 2011, shipments were down 3.3%. Demand for the month decreased -3.3% and for the full year it fell -3.4%. Imports rose +3.1% in December, but declined -2.9% for the whole of the year.
Sappi North America Names Mill Managing Directors
http://www.paperage.com/2012news/01_20_2012sappi_leadership_mills.html
Sappi Fine Paper North America has appointed Rick Dwyer as managing director of the company’s Cloquet mill in Minnesota. Sappi also reported that it has named Mike Haws as managing director of the Somerset mill in Maine. The facilities produce coated woodfree paper.
White Birch Owners and Unions in Talks
http://www.labour-reporter.com/articleview/12160-white-birch-paper-to-meet-with-quebec-workers-union
The owners of a Quebec pulp mill who announced the permanent shut down the plant last week will meet with its unionized employees to find a way to reopen the mill, according to a union press release.
The decision is welcome news to the Communications, Energy and Paperworkers (CEP) Union-Quebec, who represent the mill's workers.
The Quebec government decided to intervene in the dispute after the mill's 600 workers were laid off as a result of the closure. White Birch president Christopher Brant met with Quebec Economic Development Minister Sam Hamad on Jan. 16 to discuss options.
31% of Delivered Digital Ads Are Not Seen
http://www.foliomag.com/2012/comscore-debuts-digital-ad-measurement-solution
In a new study undertaken by comScore found that 31 percent of digital ads are delivered, but not seen by consumers.
Magazine News Roundup
http://www.foliomag.com/2012/atlantic-media-taps-editor-chief-new-global-business-brand
The Atlanta Media Company has named Kevin Delaney as editor-in-chief of its digital global business brand (as yet untitled). Mr. Delaney’s most recent work was as managing editor of the Wall Street Journal Online.
http://www.adweek.com/news/press/hearst-names-first-cto-137597
Hearst named Philip Wiser as its first chief technology officer. Mr. Wiser was most recently CTO of Sony Corp.
http://www.pubexec.com/article/martha-stewart-living-omnimedia-inc-names-peter-medwid-publisher/1
Martha Stewart Living Omnimedia has named Peter Medwid as Senior Vice President and Publisher of Martha Stewart Living, Christina Cranley as SVP and Publisher of Everyday Food and Whole Living.
http://www.adweek.com/news/press/week-snags-mens-journal-publisher-137590
Michael Wolfe, most recently publisher of Wenner’s Men’s Journal, has been named publisher of The Week.
Postal Rate Increases Effective Sunday/USPS Request PRC to Move Up Review of Plans
http://www.presort.com/2012/01/19/usps-urges-regulators-to-speed-up-review-of-network-cutbacks/
On Sunday, January 22, First Class Mail prices will jump 2.133% overall; stamps will be $0.45. Standard Mail (direct mail and catalogues) will go up 2.124% overall, Periodicals (magazines) will increase 2.133% overall and Package Services will rise 2.133% overall.
Separately, the USPS has asked the Postal Regulatory Commission to review the Postal Services plan to cut costs, including a slowdown First Class mail delivery, closing post offices and other options. The current deadline for the PRC’s non-binding advisory opinion is July 10, at the earliest; the USPS would like to move the date to mid-April. Several bills to address the on-going financial struggles of the Postal Service are before Congress.
manroland Divided into Three Units
manroland to be divided into 3 units: The creditors' committee under the guidance of provisional insolvency administrator Werner Schneider and chief representative of manroland Dr. Frank Kebekus was able to reach an amicable solution for an investor concept in the course of the company's insolvency proceedings. During the meeting, which took place on Wednesday in Augsburg, the solution to divide the company into three independent units turned out to be the preferred solution.
Thursday, January 19, 2012
Preliminary 2011 Coated Paper Shipments Reported
The Pulp and Paper Products Council has published coated paper shipments and demand numbers for the month of December and the whole of 2011. Coated mechanical paper shipments fell -10.2% in December as compared to the same month last year and were down -7.6% for the year. Demand decreased -13.4% for the month and -8.6% for 2011. Imports declined -29.4% in December and -13.4% for the full year. Coated woodfree shipments rose slightly, up +0.5% in December, but fell -4.1% in 2011. Demand was down -2.5% for the month and -2.8% for the year. Imports decreased -8.6% in December, but jumped +3.1% for 2011.
Resolute Forests Products Extends Shut Down of Mill
Resolute Forest Products, which temporarily closed its Fort Frances, Ontario uncoated mechanical mill in November, has announced it will continue the shut down until the end of January or until “…market conditions improve.”
Online Spending Up 23% in 2011
http://adage.com/article/mediaworks/emarketer-online-ad-spending-pass-print-time/232221/
Advertising spending on line grew to $32.03 billion in 2011, up 23%. eMarketer forecasts online ads will rise an additional 23.3%, to $39.5 billion, in 2012. The group is predicting that print ad expenditures in magazines will increase from $15.3 billion in 2011 to $15.4 billion in 2012. Total printed ads are forecast to decline, however, because of the decrease in newspaper advertising, from $36 billion in 2011 to $33.8 billion in 2012.
NewPage Port Hawkesbury Granted Extension
NewPage Port Hawkesbury was granted an extension to its creditor protection period in court today.
The company and its receiver Ernst & Young now have until the end of March to negotiate a final sale agreement with Pacific West Commercial Corp.
manroland to Become Three Independent Units
manroland to be divided into 3 units: The creditors' committee under the guidance of provisional insolvency administrator Werner Schneider and chief representative of manroland Dr. Frank Kebekus was able to reach an amicable solution for an investor concept in the course of the company's insolvency proceedings. During the meeting, which took place on Wednesday in Augsburg, the solution to divide the company into three independent units turned out to be the preferred solution.
Eastman Kodak Files for Chapter 11 Reorganization
Eastman Kodak announced today that it and its U.S. subsidiaries filed voluntary petitions for Chapter 11 business reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
Wednesday, January 18, 2012
Resolute Forest Products Next Step in Bid for Fribrek
Resolute Updates Status of its Offer for Fibrek: AbitibiBowater Inc., doing business as Resolute Forest Products ("Resolute") (NYSE: ABH) (TSX: ABH), today announced that it filed an application with the Bureau de révision et décision (Québec), the administrative tribunal with statutory jurisdiction in securities law and regulatory matters in the province, for an order to cease trade Fibrek Inc.'s (Fibrek, TSX: FBK) shareholder rights plan (the "tactical poison pill").
Catalyst Paper Recapitalization Plan
Catalyst Paper Corporation announced today that it has applied for and received an initial court order under the Canada Business Corporations Act (CBCA) to commence the consensual restructuring process with its noteholders announced on January 14, 2012.
Contrary to certain media reports this is not a bankruptcy proceeding.
The company is also seeking recognition of these proceedings with the US Court in order for the Canadian order under the CBCA to be recognized in the United States.
The company will continue to operate and satisfy its obligations to trade creditors, customers, employees and retirees in the ordinary course of business during this restructuring process.
NewPage Port Hawkesbury Requests Third Extension
NewPage Port Hawkesbury will ask the court for a third extension, until March 30, to their Stay Period under the Companies’ Creditors Arrangement Act (CCAA). The company requires the additional time to complete the proposed sale of the Nova Scotia mill to Pacific West Commercial Corp. The company will also inform the court that all of the officers of NewPage Port Hawkesbury, excepting Mill Manager Tor Suther and Controller Jacques Beaudoin, plan to resign to avoid a conflict of interest as they are also on the board of the parent company, NewPage Corp., of Ohio. The company is seeking approval from the court of the appointment of Peter Wedlake (of Green Hunt Wedlake Inc.) as Chief Restructuring Officer (CRO) of NewPage Port Hawkesbury after the resignations.
Two Potential Buyers for manroland
Two Potential manroland Suitors Identified: An earlier news item indicated an imminent decision was coming regarding the future of manroland and its assets relative to the ongoing insolvency proceedings.
A decision was to be coming today. The potential suitors have been identified by several reports to be U.S. venture capital firm Platinum Equity and Germany's Possehl, a conglomeration of more than 130 different companies.
A decision was to be coming today. The potential suitors have been identified by several reports to be U.S. venture capital firm Platinum Equity and Germany's Possehl, a conglomeration of more than 130 different companies.
Tuesday, January 17, 2012
Stora Enso Reorganizes Business Areas and Reporting Segment Structure
Stora Enso is realigning its business as follows: the paper reporting segments Newsprint and Book Paper, Magazine Paper and Fine Paper will be combined into Printing and Reading, headed by EVP Juha Vanhainen. Consumer Board and Industrial Packaging will become the Renewable Packaging Business Area and Reporting Segment headed by EVP Mats Nordlander. A new business unit composed of pulp mills and wood plantations is called Biomaterials and headed by EVP Juan Bueno. Lastly, the Wood Products Business had been renamed Building and Living and will be headed by EVP Hannu Kasurinen.
Publishers Find New Venue for Single Copy Sales
Selling printed back issues of magazines has always proved a challenge for publishers; now they are finding that digital subscriptions, which offer single issues, are a practical avenue. At Hearst Magazines, 30% of the single copies sold on tablets are back issues, according to president David Carey. Hearst sells digital editions of many of its titles including Cosmopolitan, Esquire and Popular Mechanics on the iPad; single issues represent 10% - 15% of its digital editions volume and back issues make up some 4% of the total. Carey calls back issues the “long tail” of digital editions… making our ‘back list’ more easily accessed by readers.” Bonnier has had a similar experience. Its Popular Science magazine back issues have accounted for 40% of the single digital copies sold this year. For Martha Stewart Omnimedia, titles Martha Stewart Living and Everyday Food report that 25% of their digital single copies sold on the iPad are back issues.
Sappi Names CFO
Sappi Announces Steve Binnie to Succeed Mark Thompson as Chief Financial Officer:
Sappi has announced the appointment of Steve Binnie as Chief Financial Officer. Mr. Binnie is currently the CFO of Edcon (Pty) Ltd and will replace the retiring Mark Thompson. He is joining Sappi on July 9th.
DS Smith Buys SCA Packaging Operations
DS Smith launches £1.4bn bid for SCA Packaging: DS Smith has launched a £1.4bn reverse takeover bid for SCA's packaging division, in a deal that would make it the largest corrugated and second largest packaging business in Europe with a turnover of around £4bn.
Heidelberg Announces Efficiency Program to Improve Profitability
Heidelberg Moving Forward with Measures to Achieve Profitability Targets: HEIDELBERG, GERMANY—Jan. 17, 2012—As announced in November 2011, the management board of Heidelberger Druckmaschinen AG (Heidelberg) has agreed on the “FOCUS 2012” efficiency program to achieve the company’s profitability targets. The aim is to ensure that its target operating result before special items of around €150 million is still achieved in financial year 2013/14 and the company can independently continue to build on its leading position in the future.
Pharmaceutical Representative Magazine Closes
Advanstar’s Pharmaceutical Representative Folds: After a 41-year run, Pharmaceutical Representative magazine will fold. The January 2012 issue will be its last, as the magazine closes after 492 issues.
Monday, January 16, 2012
UPM Will Close Albbruk Mill
UPM to Close Down Its Albbruck Paper Mill in Germany:
With neither an investor nor a way to continue operations found during discussions with employee representatives and local authorities, UPM will close its Albbruk, Germany mill by January 31. The mill employs 508 workers. The sheeting lines will be moved to the company’s Plattling facility. Albbruk is the last of the mills to close since UPM announced its capacity cutting plans last August. UPM Myllykoski, Finland, with 600,000 metric tonnes of magazine paper capacity, was the first to close on December 9, 2011. UPM Ettringen, Germany, with 110,000 mtpy of newsprint capacity closed on December 14. Albbruk has 320,000 mtpy of magazine paper capacity. The company also still plans to sell its Stracel, France mill.
Negotiations for Sale of manroland in Moving Forward
Manroland bids to be put to creditors on Wednesday: Negotiations for the sale of Manroland have entered the final stages, with a shortlist of two different bid proposals due to be presented to creditors on Wednesday (18 January).
Catalyst Paper in Agreement to Reduce Debt Burden
http://www.catalystpaper.com/media/news/community/catalyst-board-directors-recommends-support-recapitalization-transaction
Catalyst Paper Corporation announced today that the company has entered into an agreement (the Agreement) for a recapitalization transaction that will result in a significantly reduced debt burden. As reported on the company’s website; “Catalyst Paper's management team and Board of Directors believe that, in view of the challenges and risks to the company's ongoing viability created by the current paper, newsprint and pulp markets and the company's existing capital structure, the recapitalization is the best alternative available to the company and its note holders, shareholders and other stakeholders. The new capital structure will provide a stronger financial base for the execution of the company's operating strategy and enhance the long-term value of the company. The recapitalization is expected to close by March 31, 2012.”
Hanley Wood Recapitalizes, Reduces Debt
http://www.btobonline.com/article/20120116/MEDIABUSINESS1501/301169976/hanley-wood-recapitalizes-reduces-debt-by-330-million
Hanley Wood, a B-to-B construction information company that publishes Builder, among other titles, cut its long-term debt from $410 million to $80 million. A new ownership group (led by Oaktree Capital Management, Strategic Value Partners and Tennenbaum Capital Partners) invested $35 million of new capital in the company.
USPS Reports November Loss
http://www.btobonline.com/article/20120116/DIRECT0202/301169974/usps-reports-1-3-billion-loss-in-november
The U.S. Postal Service reported a net loss of $1.3 billion for November, the second month in the current fiscal year. News for Periodical mailings, which includes magazines, was good, however; the class had an increase in volume mailed of 2.7%, with revenue up 1.4%. News for total shipping services volume was even better; it jumped 32.7%. Total November mail volume fell -2.2%, as compared to the same month last year.
The U.S. Postal Service reported a net loss of $1.3 billion for November, the second month in the current fiscal year. News for Periodical mailings, which includes magazines, was good, however; the class had an increase in volume mailed of 2.7%, with revenue up 1.4%. News for total shipping services volume was even better; it jumped 32.7%. Total November mail volume fell -2.2%, as compared to the same month last year.
November Commercial Printing Shipments Decline
Commercial printing shipments for November were $7.1 billion in current dollars, down -1.4% compared to the same month last year. Shipments for the whole of 2011 are expected to be ~$84 billion.
Friday, January 13, 2012
M-real Selling Reflex to Hahnemühle
http://www.paperage.com/2012news/01_13_2012mreal_hahnemuhle.html
M-real has announced it is divesting its Reflex mill in Germany, which produces premium specialty papers used for brochures, letterhead, books, calendars and envelopes, to Walzmühle AG. Walzmühle AG is owned by Hahnemühle FineArt GmbH, Hahnemühle management and private shareholders of Hahnemühle. The deal is expected to close during the first quarter. The divestment marks the end of M-real’s operations at the Reflex facility; the company discontinued producing carbonless paper converting in late 2011 and sold PM5 and related assets to Metsä Tissue in 2010.
White Birch Closes Stadacona Mill
On Wednesday, the Communications, Energy and Paperworkers union at the White Birch Stadacona, Quebec newsprint mill rejected a labor contract offered by the company with 91% of the members voting no. Today, White Birch announced, as it warned it would do absent the ability to cut labor costs, that it is closing the facility.
Magazine News Roundup
Changes in ownership and people…
Vibe Holdings and Access Network are going to merge and operate as Vibe Media, which will manage Vibe, Uptown and BlackBook magazines.
Publishers Clearing House has acquired mobile marketing company Liquid Wireless, which specializes in lead generation, media buying and analytics.
New Bay Media is acquiring Guitar World, Revolver and Guitar Aficionado from Future plc for $3 million.
Random House of Canada has become the full owner of McClelland & Stewart, a trade book publishing house.
F+W, which has a line of cookbooks and other publications on antiques, collectibles, crafts, writing and horticulture, acquired World Tea Media, which organizes the World Tea Expo.
J.C. Penney’s has named Thomas J. Engibous as Chairman of the Board, effective January 28. Mr. Engibous is the retired Chairman of Texas Instruments.
Matthew Petersen, formerly of Hearst, has become president of TMG Custom Media.
And New Techniques to Reach Readers…
Hearst’s House Beautiful is expanding its integrated marketing campaign with Glidden paint using Digimarc’s digital watermark. This follows a successful program run in October and November. Scanning the watermark allows the reader to view a splash page spotlighting Glidden Paint’s new color blog portal before accessing a video feature from the magazine.
Popular Mechanics is making its QuakeTracker iPad feature, which was very popular on the digital version of the magazine, into a standalone app that advertises the paid monthly subscription of the print and digital publication. Like many promotions, the feature was originally to be a one-time feature.
In the March issue of Ladies Home Journal, the content will feature material from the magazines readers; editors are using the readers’ own stories posted on DivineCaroline.com.
Parents magazine is featuring a new design with its February issue.
Ad Spend Increased 1.5% in First Three Quarters
U.S. Ad Spend Increased 1.5% In the First Nine Months of 2011: Total U.S. advertising expenditures in the first nine months of 2011 increased 1.5% from a year ago and finished the period at $104.7 billion, according to data from Kantar Media. Spending growth slowed during the third quarter and was up 0.4 percent compared to last year.
Thursday, January 12, 2012
White Birch Mill Workers Vote No
http://www.canadianbusiness.com/article/65534--white-birch-paper-workers-in-quebec-reject-offer-by-margin-of-91-per-cent
The White Birch Stadacona mill in Quebec, which can produce uncoated mechanical paper and newsprint, has been closed since November. The company has said that without significantly lower salary, pension and other costs, the facility will be closed permanently. Mill workers represented by Communications, Energy and Paperworkers Union (CEP) have now voted on an offer presented by the company that included a 21% pay cut, pension adjustments and other concessions; 91% rejected the proposal.
Some Exceptions to Tough Q3 for Magazine Ad Pages
http://www.medialifemagazine.com/artman2/publish/Magazines_22/Among-magazines-haves-are-doing-well.asp
Magazine advertising revenue and ad pages fell in the third quarter, but, as reported by MagazineRadar, some categories had healthy growth (the most recent data for these titles are for Q3; Q4 total magazine ad revenue and pages declined as well). Hispanic magazines saw the biggest gains in ad pages, up 23.3%; Siempre Mujer jumped by 31.5%. Ad pages for luxury magazines brands jumped by 6%: Departures was up by 43.3%, Architectural Digest by 9.1%, W by 5.6% and Power & Motoryacht by 24.9%. In the fourth quarter (data were available for Q4 for this group), at least two titles focusing on mature readers prospered; ad pages for AARP the Magazine grew 84.7% and for Reader's Digest Large Edition rose 117.8%.
Magazine advertising revenue and ad pages fell in the third quarter, but, as reported by MagazineRadar, some categories had healthy growth (the most recent data for these titles are for Q3; Q4 total magazine ad revenue and pages declined as well). Hispanic magazines saw the biggest gains in ad pages, up 23.3%; Siempre Mujer jumped by 31.5%. Ad pages for luxury magazines brands jumped by 6%: Departures was up by 43.3%, Architectural Digest by 9.1%, W by 5.6% and Power & Motoryacht by 24.9%. In the fourth quarter (data were available for Q4 for this group), at least two titles focusing on mature readers prospered; ad pages for AARP the Magazine grew 84.7% and for Reader's Digest Large Edition rose 117.8%.
2011 Retail Sales at Record Level
http://www.latimes.com/business/la-fi-retail-sales-20120112,0,5483325,print.story
The Commerce Department reported that 2011 retail sales reached $4.7 trillion, up nearly 8% as compared to last year, the largest increase in more than a decade.
Retail sales barely rose in December, but the gain was enough to lift sales to a record level for 2011. It marked the largest annual increase in more than a decade.
Hearst Increases Rate Base for Food Network Magazine for 7th Time
Hearst’s Food Network Magazine Sees 7th Ratebase Increase in 3 Years:
Hearst launched Food Network Magazine in 2009 with a target circulation of 300,000; the number tripled in 2010. The publisher has now announced it will increase its rate base, for the 7th time, to 1.45 million beginning this summer. Hearst projects a 15% increase in single-copy sales for the second half of 2011 as compared to the same period in 2010.
Two Sides Launches U.S. Website
Two Sides Launches U.S. Website Promoting the Sustainability of Print and Paper: Two Sides, the fast-growing non-profit organization established to promote the responsible production, use and sustainability of print and paper, has launched its U.S. website. http://www.twosides.us
Public Still Trusts Print
Printed word still more trustworthy than email, survey says: Printed correspondence still has a place because the general public still doesn't trust emails, according to research carried out by Pitney Bowes.
Wednesday, January 11, 2012
Third Pulp Producer Announces Price Cut
In North America, Fibrek followed Canfor and Resolute Forest Products in reporting a $20 per metric tonne decrease for NBSK pulp, effective with January shipments. In Europe, however, five producers, Fibrek, Stora Enso, Botnia, Canfor and West Fraser, have announced pulp price increases.
comScore Reports Digital Audiences Exceed Print for 15 Titles
http://www.pubexec.com/article/magazines-reaching-print-digital-audience-tipping-point-25027100/1
As reported by comScore’s Media Metrix, there are now 15 magazines read more in their digital formats than their printed versions: Barron’s, ESPN the Magazine, Fast Company, Food Network Magazine, Forbes, Fortune, Harvard Business Review, MacWorld, Money, New York Magazine, Sporting News, The Atlantic, The Economist, WebMD the Magazine and Wired.
Hearst Sells Two Titles
http://www.guardian.co.uk/media/2012/jan/11/immediate-media-buys-hearst-magazines-titles?INTCMP=SRCH
Immediate Media has purchased You & Your Weeding and Prima Baby & Pregnancy magazines from Hearst Magazines UK. Immediate Media is the publishing company that was formed after the private equity takeover of BBC magazines.
RR Donnelley Awarded Contract by Chrysler
RR Donnelley Awarded Print Management Agreement by Chrysler:
Chrysler Group has awarded RR Donnelley a multi-million and multi-year print management contract. RRD will provide services that include on-site premedia resources and sourcing support, commercial printing, direct mail, logistics, labels and forms.
Publishers Clearing House Buys Liquid Wireless
Publishers Clearing House Buys Mobile Lead-Gen Provider Liquid Wireless: Publishers Clearing House, known for its big sweepstakes-driven direct marketing tactics, has acquired Liquid Wireless, a Portland, Maine-based mobile marketing company. Terms of the deal were not released, but it gives PCH an instant, turnkey mobile strategy, from campaign generation to activity tracking through post-conversion.
Increase in M&A Expected for 2012
Bullish M&A forecast for new year: Almost 60% of senior executives in the media and marketing industries said they expect to seek an acquisition this year, according to the “2012 Mergers and Acquisitions Prospects for Media, Marketing Services and Related Technology Firms” survey conducted in November by AdMedia Partners. That figure is up from 40% in last year's survey.
Tuesday, January 10, 2012
PIB Reports 2011 Ad Revenue & Pages
The Publishers Information Bureau released 2011 results today, reporting that advertising revenue for the year increased slightly by $8 million to $20,086,199,882 as compared to 2010. Ad pages fell -3.1% to 164,225. While in the first quarter revenue was up 6% and pages 2.5%, as compared to the same period last year, and in the second quarter revenue rose 2.4% and pages 0.3%, the rest of the year saw a decline; in Q3, revenue fell -1.5% and pages -5.6% and in Q4, revenue decreased -5% and pages -8%. Nine of twelve categories tracked by the PIB had losses for the year. Three areas did better; Financial, Insurance and Real Estate grew by double digits, with ad revenue up 19.4% and ad pages rising 12.7%. For the Toiletries & Cosmetics category, revenue was up 9.5% and pages 3.8%. Apparel & Accessories had a revenue gain of 9.7% and an increase in pages of 5.5%.
Resolute Forest Products Reaffirms Offer
Resolute Forest Products (AbitibiBowater) has announced that is would issue a notice of variation to the offer circular and other ancillary documentation in connection with its outstanding offer to acquire Fibrek Inc. The company said the documents would describe certain changes with the sole purpose of addressing comments from the SEC. CEO Richard Garneau said the action “does not change our firm belief that the offer we announced on November 28th presents Fibrek’s shareholders with a compelling opportunity. The fact that three of their largest individual shareholders, representing approximately 46% of the outstanding shares, have agreed to tender their shares to our offer supports that belief.”
Second NBSK Producer Lowers Price
Resolute Forest Products announced a $20 per metric tonne decrease in its price for NBSK pulp in North America, effective with January shipments. Canfor reported it was lowering their price yesterday.
No Help from Nova Scotia for Port Hawkesbury Pension
Ron Stern of Stern Partners, the final bidder in the sale of the NewPage Port Hawkesbury Supercalendered paper mill, has indicated that the firm cannot assume the costs of the pension plan for the union workers and run the facility profitably. The successful sale of the property is contingent on coming to an agreement with the workers on this matter, among other stipulations. Now, the Premier of Nova Scotia, Darrell Dexter, has said that the province, which has spent ~C$15 million so far to keep the condition of the mill such that it can be restarted quickly, cannot cover the pension plan liabilities.
Standard Register Installs 4 HP Indigo Digital Presses
Standard Register Installs Four HP Indigo Digital Presses: PALO ALTO, CA—Jan. 10, 2012—Standard Register, a leading U.S. provider of communications management solutions, has installed four HP Indigo digital presses to produce color-critical, personalized collateral for a broad base of clients.
Magazines Find New Way to Sell Back Issues
Tablets Helping Publishers Sell Back Issues: When Apple launched the tablet, single copies were the only way most magazines were available, and the consumer backlash was brutal. But now, single issues have turned out to be a good way of selling back copies of magazines.
Kodak Simplifies Its Business Structure
Kodak Simplifies Its Business Structure to Accelerate Digital Transformation: ROCHESTER, NY—Jan. 10, 2012—Eastman Kodak announced the creation of a new and simpler business structure designed to increase productivity, reduce cost and accelerate its transformation into a digital company that delivers sustainable.
F+W Buys World Tea Media
F+W Buys World Tea Media: F+W Media, a Blue Ash, Ohio-based media company serving enthusiasts in about 20 verticals including antiques and collectibles, crafts, writing and horticulture, has acquired World Tea Media, organizer of the World Tea Expo.
A New Model for Ladies’ Home Journal
Ladies’ Home Journal to Move to Reader-Produced Content Model: In a new twist on the user generated content model, Meredith’s Ladies’ Home Journal is turning over editorial reins to its readers. As of its March issue, almost every story featured in the magazine will include some audience contribution.
Monday, January 9, 2012
European Demand for Uncoated Grades Falls
As reported by CEPIFINR, European coated woodfree (freesheet) paper shipments for November declined -1.2% as compared to the same month last year. Demand was down -3.9% and exports fell -9.9%. Year-to-date, shipments decreased -4.8% as compared to the same period in 2010, demand was down -6.8% and exports fell -7.8%. Uncoated woodfree paper shipments for November declined -5.5%, demand decreased -6.6% and exports fell -7.3%. Year-to-date, shipments were down -2.7%, and demand decreased -6.3%, but exports jumped +7.4%.
Verso Renewable Energy Project Completed
http://www.paperage.com/2012news/01_09_2012verso_paper_energy.html
Verso’s $45 million renewable energy project at its coated freesheet mill in Quinnesec, Michgan has been concluded. The plan included design upgrades to the facility’s existing combination boiler, a new biomass handling system and a new turbine generator. The project will now allow the mill to use renewable biofuel for more than 95% of its on-site electricity generation.
Canfor Reports Another Cut in NBSK Pulp Pricing
Canfor is lowering the price of January shipments of NBSK pulp in the U.S. by $20 per metric tonne.
Bowater Mersy Newsprint Mill Stays Closed
Bowater Mersey extends shut down until Jan 16:
Bowater Mersey had extended its shut down until January 16.
The Nova Scotia mill has been shut down since Christmas.
Bowater Mersey had extended its shut down until January 16.
The Nova Scotia mill has been shut down since Christmas.
White Birch Paper Proposal to Union
White Birch Paper Company presents global proposal to union employees of idled Stadacona Mill:
White Birch Paper Company has announced that it has presented a global proposal to the employees of the idled Stadacona mill in Quebec City.
Following a thorough analysis of the mill’s cost structure, White Birch’s proposal represents the final opportunity to implement the savings necessary for Stadacona to avoid permanent closure in light of significant manufacturing cost disadvantages, as well as the ongoing deterioration of economic conditions in the newsprint industry.
White Birch Paper Company has announced that it has presented a global proposal to the employees of the idled Stadacona mill in Quebec City.
Following a thorough analysis of the mill’s cost structure, White Birch’s proposal represents the final opportunity to implement the savings necessary for Stadacona to avoid permanent closure in light of significant manufacturing cost disadvantages, as well as the ongoing deterioration of economic conditions in the newsprint industry.
Vistaprint Buying Webs, Inc.
Vistaprint Agrees to Acquire Webs, Inc.: Vistaprint N.V., a leading online provider of professional marketing products and services to micro businesses, and Webs, Inc., the popular, do-it-yourself suite of websites, Facebook Pages and mobile presence solutions for small businesses, today announced the companies have entered into a definitive agreement in which Vistaprint will acquire Webs for $117.5 million payable at closing. The consideration will be paid through a combination of cash and restricted shares.
USPS Gives New Payment Options to Major Direct Mailers
USPS to offer credit billing to direct mailers: Washington, D.C.—The U.S. Postal Service has been granted permission to allow postage credit billing to direct mailers rather than requiring postage prepayment.
Friday, January 6, 2012
Ron Stern, Stern Partners Comments on NewPage Port Hawkesbury SC Mill
http://www.capebretonpost.com/News/Local/2012-01-05/article-2855999/NewPage-could-be-in-production-by-late-spring,-says-bidder/1
As reported yesterday, Stern Partner’s Pacific West Commercial was selected as the final bidder in the sale of the NewPage Post Hawkesbury mill. The facility has the capacity to produce approximately a quarter of the Supercalendered paper used in the U.S. Ron Stern, president of Stern Partners, had an interview with the Cape Breton Post, the newspaper serving the region in which the mill is located. He confirmed, as reported yesterday, that energy and labor cost negotiations are key to restarting: “There’s good reason to do it [restart] as soon as possible…It’s a terrific machine, the physical plant there is really world-class. It’s probably as good a machine as there is in North America…hopefully we can come up with a plan that also makes it very competitive.” Stern said it will be necessary to operate it at the lowest cost possible. That will include working with Nova Scotia Power in reviewing the mill’s operations to see how it can reduce its electricity costs, which amounted to $100 million last year. The company is not willing to take on unfunded pension liabilities for the mill’s four plans: “The economics don’t work ... the cost to the mill of funding over $100 million in unfunded pension liabilities would just overwhelm it, it would more than set off most of the gains we’re trying to make.” Regarding fiber, he said “Talks with the province regarding access to Crown lands are going well.” Natural Resources Minister Charlie Parker said Wednesday the company could potentially be given access to less land than the 600,000 hectares that NewPage managed.
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