M-real Corporation's Board of Directors proposes to the Annual General Meeting to be convened on 28 March 2012 that the company's business name is changed to Metsä Board Corporation.
The new name and identity reflects a company that is according to its strategy strongly focused on high-quality ecological paperboards, and is innovative, responsible and stronger than before.
Thursday, February 9, 2012
M-real Reports 2011 and Q4 Results
http://www.m-real.com/Pages/Default.aspx
Full Year 2011
Sales were EUR 2,485 million (Q1–Q4/2010: 2,605)The operating result excluding non-recurring items was EUR 59 million (173). The operating result including non-recurring items was EUR -214 million (146).
The result before taxes excluding non-recurring items was EUR 0 million (92). The result before taxes including non-recurring items was EUR -281 million (48).
Earnings per share from continuing operations excluding non-recurring items were EUR 0.02 (0.23) and including non-recurring items EUR -0.83 (0.09).
Court Approves Catalyst Financing
Court approves Catalyst Paper’s DIP financing:
The Supreme Court of British Columbia has approved advances under the debtor-in possession (DIP) financing of up to approximately $175 million from JP Morgan, subject to certain terms and conditions, that the lenders have agreed to provide to Catalyst during the CCAA proceedings.
The Supreme Court of British Columbia has approved advances under the debtor-in possession (DIP) financing of up to approximately $175 million from JP Morgan, subject to certain terms and conditions, that the lenders have agreed to provide to Catalyst during the CCAA proceedings.
Hearst Ups Equity Interest in Fitch
Hearst Ups Equity Interest in Fitch Group to 50 Percent: Hearst Corporation has upped its equity interest in global credit ratings agency Fitch Group again, adding an additional 10 percent. The transaction, valued at $177 million, brings Heart’s total equity interest to 50 percent.
Bloomberg Businessweek & New York Magazine in Top 5
http://www.minonline.com/news/Top-5-WeekBiweek-Five-Year-Report-Bloomberg-BW-and-Autoweek-Rev-Their-Engines_19899.html
Concluding our five-year analysis of magazine advertising, we take a look at weekly and biweekly boxscores for 2007-2011 in min (see graph below). Only seven of the 30 mags that we track had an upward gain in ad sales for 2011. Three titles deserve recognition here: Bloomberg Businessweek, Autoweek and New York magazine (among top five with highest gains).
USPS Reports Q1 Loss and Other News
USPS Losses Total $3.3B in First Quarter as Mail Volumes Decline: The U.S. Postal Service ended the first three months of its 2012 fiscal year (Oct. 1 – Dec. 31, 2011) with a net loss of $3.3 billion.
http://blogs.federaltimes.com/federal-times-blog/2012/02/08/hundreds-of-post-offices-dropped-from-u-s-postal-service-closure-list/
U.S. Postal Service list of about 3,650 post offices under study for closure? It’s now down to around 3,270.
Since the original roster was released last July, 380 facilities have quietly been given a reprieve.
The U.S. Postal Service has proposed a rule change that would allow publishers to report digital copies as paid and requested circulation. This change would allow publishers to count digital editions as part of the 50% of a publication's total circulations that must be from customers who have paid for or requested the publication.
Wednesday, February 8, 2012
Sappi Annouces Q1 FY2012 Profit
Profit for the period US$45 million; Q1 2011 US$37 million.
Operating profit excluding special items US$100 million; Q1 2011 US$137 million.
Operating profit excluding special items US$100 million; Q1 2011 US$137 million.
The quarter ended December 2010 included 14 weeks whereas the quarters ended September 2011 and December 2011 included 13 weeks.
Stora Enso Reports Q4 Results
Nordic paper maker Stora Enso Q4 profit plunges to $130 million on high costs, low demand:
Stora Enso Oyj has reported a 66% decrease in fourth quarter net profit to 100 million as the paper maker was hit by higher costs and low demand.
Stora Enso Oyj has reported a 66% decrease in fourth quarter net profit to 100 million as the paper maker was hit by higher costs and low demand.
Stora Enso Restructures to Cut Costs
Stora Enso Restructures to Drop $63.6 Million in Costs: Stora Enso has announced a restructuring plan that aims to cut costs in its annual magazine paper operation by about $63.6 million by third quarter 2013, with the goal of improving efficiency and productivity.
Norske Skog Announces Q4 Earnings
Norske Skog : Improved Operations, Challenging Market: Norske Skog improved gross operating earnings in the fourth quarter, partly due to lower costs.
Gross operating earnings in the fourth quarter were NOK 503 million, compared to NOK 469 million in the third quarter.
Gross operating earnings in the fourth quarter were NOK 503 million, compared to NOK 469 million in the third quarter.
Nippon Paper to Restart Ishinomaki PMs
Nippon Paper to restart PM N5 and N6 at Ishinomaki mill, production expected to recover 75% of total capacity, plans to shut some production facilities: Nippon Paper Group, Inc. (President: Yoshio Haga) has moved forward with reconstruction efforts at Ishinomaki Mill, which sustained damage as a result of the Great East Japan Earthquake.
Nippon Reports Q3 Results
Nippon Paper Group, Inc. announces that it has posted extraordinary losses for the third quarter of the fiscal year ending March 31, 201.
ABC Releases H2 Circulation Numbers
The Audit Bureau of Circulation has released circulation figures for the second half of 2011. AARP magazine held onto its top spot with a circulation of more than 22 million.
Hearst Names International VP
Jean de Boisdeffre, former CEO of Lagardère Active's international magazines' business the Hearst acquisition of Hachette Filipacchi Media, has been named International Senior Vice President.
New York Magazine Circulation Up
During a six month period in which the magazine industry continued to see decreases in subscriptions and newsstand sales, New York's hometown glossies still eked out small circulation gains.
Between July 2011 and the end of December, New York magazine's average paid circulation increased 0.1% according to the latest data from the Audit Bureau of Circulations and The New Yorker's average circulation rose 2.2%.
Disney's Club Penguin Launches Print Edition
Disney's Club Penguin, until now a virtual world for children, is launching a print magazine in the UK on February 9.
Scene Magazine Debuts
Jared Kushner’s controlled-circulation magazine, Scene, will debut on March 1. The monthly style and society title is helmed by publisher and chief executive officer Julie Dannenberg, editor in chief Peter Davis and creative director Cricket Burns.
Source Interlink's Four Wheeler Turns 50
Four Wheeler, a Source Interlink magazine with a circulation of 190,000 and a readership of 2.8 million, is celebrating it's 50th anniversary with a special retrospective issue.
Jobson Medical Files for Bankruptcy
http://www.btobonline.com/article/20120203/MEDIABUSINESS1501/120209987/jobson-medical-files-chapter-11?utm_source=mediabiz&utm_medium=email&utm_content=editorial&utm_campaign=mediabiz
Jobson Medical Information Holdings, a b-to-b healthcare publisher that was acquired by a private equity fund of the Wicks Group of Cos. in 2005, has filed a “prepackaged” Chapter 11 plan in U.S. Bankruptcy Court.
Conde Nast Will Relaunch Domino
Conde Nast’s Domino Returns as a Special Issue: Condé Nast’s much-beloved Domino magazine, which closed in 2009, is making a return to market as a special edition, called Domino Quick Fixes, set to hit newsstands in April.
Consolidated Graphics Reports Quarterly Results
Consolidated Graphics Posts Revenue and Income Declines: Consolidated Graphics announced financial results for the quarter ended Dec. 31, 2011. Revenue for the quarter was $283.9 million, a $15.2 million or 5.1 percent decrease compared to the prior-year quarter.
Heidelberg Reports Q3, NA Sales Up
Heidelberg revenue down 4%, North American sales up: In the third quarter of financial year 2011/2012, Heidelberger Druckmaschinen AG achieved a slightly positive result of operating activities with stable sales. Sales in the North America region were up significantly on the previous year's weak figure.
Tuesday, February 7, 2012
2011 NA Forest Product Indusry Capital Spending Up 46%
Capital spending by North American pulp and paper companies increased sharply in 2011, with most of the increased outlays focused on replacing higher-cost existing capacity, converting mills/machines to more profitable grades, energy cost reductions, enhancing quality, and environmental improvement.
Spending in 2011 increased by 46.5% and was up by more than $4 billion, compared with the 2010 spend, according to a PPI Pulp & Paper Week survey of 20 major North American pulp and paper manufacturers.
The 2011 total in the US alone was 120% higher than the 2009 total.
Resolute Forest Products Buys Co-Gen Plant
Resolute Forest Products buys idled co-gen plant in Dolbeau, Quebec:
Resolute Forest Products (formerly known as AbitibiBowater) has purchased the idled co-generation plant at Dolbeau, Quebec from Boralex for $5 million.
Resolute Forest Products (formerly known as AbitibiBowater) has purchased the idled co-generation plant at Dolbeau, Quebec from Boralex for $5 million.
Paper Co.s May Lose Black Liquor Tax Loophole
U.S. Paper Companies May Lose Son of Black Liquor Loophole: Senate Finance Committee Chairman Max Baucus is trying to close the Son of Black Liquor tax loophole that has already provided U.S. paper makers with a windfall of more than $1 billion.
ALM Relaunches Better Buildings
ALM Relaunches Better Buildings Brand with a National Supplement: ALM is resurrecting its Better Buildings brand, a tri-state area building management magazine which debuted in 1981 and shuttered in the mid 1990s, with the launch of a national, quarterly supplement of the same name, to be distributed along with its Real Estate Forum magazine.
US Commercial Printing Shipments Fall in December & Q4
US Commercial Printing Shipments End 2011 on Sour Note (Economics & Research Center):
U.S. commercial printing shipments for December were $6.96 billion. This was down -$207 million compared to December 2010, a decrease of -2.9%.
U.S. commercial printing shipments for December were $6.96 billion. This was down -$207 million compared to December 2010, a decrease of -2.9%.
Quad/Graphics, Transcontinental Deal Ready to Close
http://www.qg.com/news/quad_news_detail.asp?NewMessageID=38745
Quad/Graphics Inc. today announced that it has been authorized by Canada’s Competition Bureau to complete the sale of its Canadian operations to Transcontinental Inc. The company expects to close the transaction in the next several weeks.
Edwards Brothers and Malloy Merge
Edwards Brothers and Malloy Inc., two leading book manufacturers, announced that they would merge effective Feb. 6, 2012, forming a new company called Edwards Brothers Malloy. The new company will have combined sales of $115 million and will be the sixth-largest book manufacturing firm in the United States.
QuinStreet to Cut 84% Ziff Davis Jobs
http://www.btobonline.com/article/20120207/MEDIABUSINESS1501/302079997/quinstreet-to-cut-about-80-of-ziff-davis-enterprise-employees
QuinStreet Inc., an online vertical marketing company, plans to cut about 80% of Ziff Davis Enterprise employees in the wake of its acquisition of the tech media company, according to accounts by former ZDE employees. The total job cuts may approach 100 over the next several months.
Monday, February 6, 2012
AF&PA Comments on Renewable Tax Credits
http://www.afandpa.org/pressreleases.aspx?id=2416
American Forest & Paper Association President and CEO Donna Harman released a statement today in response to the proposed retroactive repeal of the renewable fuel tax credits.
Ziff Davis Enterprise Sold to Lead-Gen Company QuinStreet
Ziff Davis Enterprise Sold to Lead-Gen Company QuinStreet: Ziff Davis Enterprise, one-half of what remains of one of the most storied companies in the history of publishing, was sold Friday to QuinStreet, a publicly-traded lead-generation marketing company based in Foster City, California.
USPS Tops Postal Services Worldwide
USPS Tops Ranking of Postal Services Worldwide: A review of the performance of universal postal service providers ranks the U.S.P.S. as the best postal service within the world’s top 20 largest economies for access to services, resource efficiency and public trust.
Amazon & States Sales Tax Fight Continues
Amazon billed by Arizona for $53 million in sales taxes: Amazon claims that the state of Arizona has served the online company a tax bill for $53 million for uncollected sales tax.
http://www.postandcourier.com/news/2012/jan/28/amazon-tax-bills-come-due/
If you’ve been following the online sales tax saga then you probably know that Amazon has done all they could to avoid collecting taxes. They’ve even gone so far as to cut off affiliates in CO, CT, IL.
Friday, February 3, 2012
Marubeni Reports Strong Third Quarter
http://www.marubeni.com/ir/index.html
Marubeni Corp. has announced FY 2011 third quarter revenue of $12.7 billion, up 18% as compared to the same period last year. Net income rose sharply, up 32% to $484 million and the operating profit jumped 26%. The company is anticipating that net income for the whole of FY 2011, which ends on March 31, 2012, will increase by 25% over FY 2010.
Domtar Releases Q4 Financials
Domtar reports net quarterly earnings of $61 million:
Domtar Corporation has posted net earnings of $61 million in the fourth quarter of 2011.
For the 2011 fiscal year, Domtar’s net earnings amounted to $365 million compared to net earnings of $605 million in 2010.
NewPage Port Hawkesbury Workers Sue
The workers of the idled NewPage Port Hawkesbury mill in Nova Scotia have filed a lawsuit for $168 million against the company. The employees, represented by the Communications, Energy and Paperworkers (Local 972) are owed severance, pensions, and other benefits.
Fibrek Expects 3rd Party Bids
Fibrek expects to receive 3rd party proposals today:
Fibrek Inc. announced today that a proposal has emerged from its strategic alternatives review process, which was initiated by Fibrek’s Board following the unsolicited insider bid made by AbitibiBowater Inc. (carrying on business as Resolute Forest Products) on December 15, 2011.
Fibrek Inc. announced today that a proposal has emerged from its strategic alternatives review process, which was initiated by Fibrek’s Board following the unsolicited insider bid made by AbitibiBowater Inc. (carrying on business as Resolute Forest Products) on December 15, 2011.
Dow Jones & Co. Names CEO
http://www.btobonline.com/article/20120203/MEDIABUSINESS06/120209994/news-corp-taps-fenwick-as-ceo-of-dow-jones-co?utm_source=dailynewsletter&utm_medium=email&utm_content=editorial&utm_campaign=dailyclickthroughs
News Corp. today named Lex Fenwick CEO of Dow Jones & Co., publisher of The Wall Street Journal. Fenwick joins Dow Jones from Bloomberg, where he spent 25 years, most recently as CEO of Bloomberg Ventures.
Time Names Europe Editor
http://www.mediabistro.com/fishbowlny/time-names-new-europe-editor_b52549
Time has promoted Catherine Mayer to the role of Europe Editor. Mayer joined Time in 2004 and has been the magazine’s London Bureau Chief since 2006.
55 New Magazines Debut in January
The Mr. Magazine™ Launch Monitor was able to identify (and buy) 55 new publications arriving on the market place for the first time during the month of January. Ten of the new magazines were published with an intention to appear at least 4 times a year (quarterly). Reality Weekly, as the name obviously shows, is published weekly.
Publishers Looking for Answers to USPS Plight
Publishers Seek Solutions as USPS Nears Brink: The United States Postal Service is teetering at the edge of collapse, and magazine publishers, for whom the health of the postal service is of critical importance, are looking for answers.
Xerox Global Graphic Communications Names President
Xerox and Presstek appoint new presidents: Presstek chief executive Jeff Jacobson will join Xerox later this month as president of its Global Graphics Communications division and be succeeded by Fujifilm's former US chief operating officer Stan Freimuth.
AlphaGraphics Names President
AlphaGraphics Names Art Coley as President: Blackstreet Capital Partners II, an affiliate of a Maryland-based private equity fund, has announced the promotion of AlphaGraphics Inc.’s Art Coley to president of the franchise organization with nearly 300 centers worldwide. This appointment is effective immediately and follows the departure of Kevin Cushing as CEO of the company.
Thursday, February 2, 2012
International Paper Reports Q4 and 2011 Results
http://www.paperage.com/2012news/02_02_2012international_paper_earnings.html
International Paper reported preliminary full-year 2011 net earnings attributable to common shareholders totaling $1.3 billion compared with $644 million in full-year 2010. In the fourth quarter of 2011, the company reported net earnings of $257 million compared with $316 million in the fourth quarter of 2010. Amounts in all periods include special items.
International Paper reported preliminary full-year 2011 net earnings attributable to common shareholders totaling $1.3 billion compared with $644 million in full-year 2010. In the fourth quarter of 2011, the company reported net earnings of $257 million compared with $316 million in the fourth quarter of 2010. Amounts in all periods include special items.
More layoffs at Kruger's Corner Brook mill
http://www.cbc.ca/news/canada/newfoundland-labrador/story/2012/02/01/nl-kruger-jobs-201.html
As previously announced, Corner Brook Pulp and Paper started implementing a rightsizing plan as part of its strategy to improve its competitiveness. Throughout the day yesterday, the Company met with union executives to announce the immediate layoff of nine employees, as well as a gradual reduction of 33 additional positions and four vacancies that will not be filled.
Investor Found for manroland’s Sheetfed Division
Langley Group Takes Over manroland’s Sheetfed Division: An investor solution has been found for the sheetfed business of manroland AG currently in insolvency proceedings.
Hearst, Fleishman-Hillard Publish Ad Study
Women Most Notice Price, Quality Info in Advertising: The top elements of advertising that make women "take notice" are an easily found price (45%) and proof or details of quality (43%) followed by relevant messaging (39%) and ads that are easy to remember (28%) according to a study conducted by integrated marketing and communications firm Fleishman-Hillard in partnership with Hearst Magazines.
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USPS Proposes Barcode Discount
http://www.btobonline.com/apps/pbcs.dll/article?AID=/20120202/DIRECT0202/302029994/usps-to-again-offer-qr-code-discount-offer&template=printart
Washington, D.C.—The U.S. Postal Service, which has been aggressively courting commercial mailers with a variety of promotions, will reprise its 2D barcode promotion first launched last summer.
Washington, D.C.—The U.S. Postal Service, which has been aggressively courting commercial mailers with a variety of promotions, will reprise its 2D barcode promotion first launched last summer.
GMG Names Marketing Director
Ikea's Farkas joins GMG to head up marketing: GMG has appointed Michael Farkas as marketing director after nearly a decade masterminding the production workflow behind the Ikea catalogue.
Wednesday, February 1, 2012
Marubeni Recognized as Sustainability Leader
http://www.marubeni.com/csr_env/topics/006217.html
As in the previous year, Marubeni Corporation has been awarded the SAM Sector Leader in the Support Services, the sector to which Marubeni Corporation belongs, by SAM, a global CSR research and rating company that analyzes candidate companies for inclusion in the Dow Jones Sustainability Index (DJSI), an index of companies leading in the field of socially responsible investment (SRI). The SAM Sector Leader is awarded to the company with the highest sustainability performance in each industry sector.
In addition, in the rating of the overall sustainability performance, Marubeni Corporation has been awarded the top "SAM Gold Class," which is higher than the SAM Silver Class awarded to Marubeni in the previous fiscal year, and has been included in SAM’s “The Sustainability Yearbook 2010” as a leader in sustainability.
No Word on Sale of St. Mary's
The sale of bankrupt St. Marys Paper Corp., underway for two weeks, has quietly entered the second phase of a quick-moving process.
Letters of intent from prospective bidders, according to sales protocol, were to have been filed with the court-appointed receiver, Ernst & Young, late Monday afternoon and upon review applicants advancing into the next phase of the process were to have been notified Tuesday.
UPM to Build EUR 85 Million CHP Plant at Schongau
http://www.paperage.com/2012news/02_01_2012upm_chp_germany.html
UPM said that it plans to invest EUR 85 million to build a new combined heat and power (CHP) plant at its Schongau mill in Germany.
The new power plant will generate process heat as well as electricity for the mill, while also providing sustainable and energy efficient district heating for roughly 750 households and public institutions such as local school and hospital in Schongau.
UPM said that it plans to invest EUR 85 million to build a new combined heat and power (CHP) plant at its Schongau mill in Germany.
The new power plant will generate process heat as well as electricity for the mill, while also providing sustainable and energy efficient district heating for roughly 750 households and public institutions such as local school and hospital in Schongau.
UPM Reports Fourth Quarter Results
http://www.upm.com/en/Pages/default.aspx
Sales for the fourth quarter of 2011 were EUR 2,686 million, 14% higher than the EUR 2,357 million in the fourth quarter of 2010. Sales increased mainly due to the inclusion of the acquired Myllykoski Corporation and Rhein Papier GmbH, as of 1 August 2011. In addition, sales prices increased, particularly in Paper.
EBITDA decreased to EUR 301 million, 11.2% of sales, from EUR 318 million, 13.5% of sales in the same period last year.
Operating profit was EUR 131 million, 4.9% of sales (207 million, 8.8% of sales). Operating profit includes net charges of EUR 16 million as special items, mainly related to restructuring measures in Paper.
The operating profit excluding special items was EUR 147 million, 5.5% of sales (212 million, 9.0% of sales).
UPM Sells Packaging Production to Billerud
UPM sells its packaging paper assets to the Swedish Billerud: UPM sells its packaging paper production to the Swedish packaging paper company Billerud. The transaction includes two packaging paper machines; one in Pietarsaari and one in Tervasaari, Finland. The enterprise value of the transaction is EUR 130 million. The transaction is subject to regulatory approval. The target is to close the transaction during the second quarter of 2012.
Catalyst Paper Secures $175 million
Catalyst Paper to receive $175 million in DIP financing from JP Morgan:
JP Morgan is providing Catalyst Paper with up to $175 million in debtor-in possession (DIP) financing to help fund its operations during its period of credit protection, under the Companies’ Creditors Arrangement Act (CCAA).
JP Morgan is providing Catalyst Paper with up to $175 million in debtor-in possession (DIP) financing to help fund its operations during its period of credit protection, under the Companies’ Creditors Arrangement Act (CCAA).
UPM Plans First Biorefinery for Wood-Based Biodiesel
UPM to build the world's first biorefinery producing wood-based biodiesel: UPM is to invest in a biorefinery producing biofuels from crude tall oil in Lappeenranta, Finland. The industrial scale investment is the first of its kind globally. The biorefinery will produce annually approximately 100,000 tonnes of advanced second generation biodiesel for transport. Construction of the biorefinery will begin in the summer of 2012 at UPM’s Kaukas mill site and be completed in 2014. UPM’s total investment will amount to approximately EUR 150 million.
Publish Post
Neenah Completes Purchase of Premium Brands from Wausau Paper
Neenah Completes Purchase of Premium Brands from Wausau Paper: Neenah Paper, Inc. (NYSE:NP) announced today completion of the previously announced purchase of certain premium paper brands and other assets from Wausau Paper Corp.
Hearst and Condé Nast Sell Comag
Exclusive: Hearst and Condé Nast Sell Comag to Jim Pattison Group: Comag Marketing Group, the Princeton, New Jersey-based national magazine distributor jointly owned by Hearst and Condé Nast, has been sold to the Jim Pattison Group. The deal signals the exit of the two publishers from the magazine distribution business and is being positioned as an effort to heal a newsstand supply chain that's long been fraught with competing interests and inefficiencies.
FOLIO Names Editor
FOLIO:, EXPO Magazines Tap Top Editors: Red 7 Media, a division of Access Intelligence, announces two changes to its editorial roster, effective immediately. Bill Mickey, who previously served as executive editor of EXPO Magazine, returns to FOLIO Magazine as editor.
Time Inc. Closing MAGHOUND
Time Inc.’s MAGHOUND Shuttering: Time Inc.’s print magazine venture MAGHOUND is closing. The service debuted in 2008, and is expected to fold early this year. Dubbed the “Netflix of the magazine industry” in the press, MAGHOUND hawked multiple titles for a discount price, without the commitment of a subscription.
PRC Will Not Expedite Decision
U.S. Regulators Refuse to Speed Up Review of USPS Network Cutbacks: The (Postal Regulatory) Commission said in a decision issued yesterday that its current schedule was “slightly more than one month longer” than a schedule that had been suggested by USPS than a schedule that had been suggested by USPS, and that no new information had been provided by USPS to persuade Commissioners that the change in schedule was warranted.
Xerox Global Names President
Jeffrey Jacobson Named Head of Xerox Global Graphic Communications: Xerox Corp. announced the appointment of Jeffrey Jacobson as president, Xerox Global Graphic Communications. Jacobson, 52, joins Xerox from Presstek where he served as the company’s president and CEO since 2007, adding the title of chairman in 2009.
Quad/Graphics Acquires Williamson Printing
Quad/Graphics Acquires Dallas-Based Williamson Printing: SUSSEX, WI—Feb. 1, 2012—Quad/Graphics Inc. has purchased Williamson Printing, a full-service commercial and specialty products printer specializing in short- to medium-runcatalogs, case-bound books, direct mail and other promotional products.
Indexx Buys Crowson Stone Printing
Indexx Purchases Assets of Crowson Stone Printing: Indexx, an integrated communications company specializing in printing, marketing, publishing and fulfillment solutions, is proud to announce an expansion of its services in the Columbia market following an assets purchase of Crowson Stone Printing
Inside Publications Buys Cheer Biz News
Inside Publications Acquires Cheer Biz News: For an unknown amount, Atlanta-based Inside Publications purchased Cheer Biz News and sister titles The Coach’s Handbook and All Star Insider. Moving forward, Cheer Biz will be produced by Inside Publications staff.
Tuesday, January 31, 2012
Catalyst Paper to File for Creditor Protection
Catalyst Paper Corporation has announced that to facilitate an orderly restructuring of its business and operations, the board of directors of the company has approved a filing for an Initial Order from the Supreme Court of British Columbia to commence proceedings under the Companies’ Creditors Arrangement Act (CCAA). The terms and conditions of the restructuring plan have not yet been determined by the company.
xpedx Closing Stores Division
xpedx Closing Stores Division: xpedx has announced the closing of the Stores division. The press release read, in part: This year xpedx will realign operations... This means we will transition away from our current stores business model, to servicing many customers from xpedx’s well established distribution network.
Domtar to Sell Closed Mill to Fortress
Domtar enters agreement to sell closed Lebel-sur-Quévillon mill to Fortress for $1:
Domtar Corporation has announced that it has signed a definitive agreement with Fortress Global Cellulose Ltd, and with a subsidiary of the Government of Québec, for the sale of its Lebel-sur-Quévillon assets. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2012.
Domtar Corporation has announced that it has signed a definitive agreement with Fortress Global Cellulose Ltd, and with a subsidiary of the Government of Québec, for the sale of its Lebel-sur-Quévillon assets. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2012.
Penton Names CEO
Penton names Kieselstein CEO: Penton Media, publisher of Registered Rep. and Supermarket News, has named David Kieselstein as CEO. He was previously CEO of TNS North America, a custom research division of WPP.
Manroland Sells Augsburg Plant 2/1
Manroland break-up to begin tomorrow with Augsburg sale: Manroland's administrator has confirmed that the break-up of the German manufacturer will begin tomorrow (1 February) with the sale of the Augsburg web offset facility.
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