RR Donnelley to Acquire EDGAR Online, a Provider of Financial Data and Analytics: R. R. Donnelley & Sons and EDGAR Online have signed a definitive agreement for RR Donnelley to acquire EDGAR Online, a leading provider of disclosure management services, financial data and enterprise risk analytics software and solutions for both corporate and investment professionals. The deal is valued at approximately $70.5 million. The transaction is expected to close during the third quarter of 2012.
Tuesday, May 22, 2012
Manistique Owner Completes Equity Offer
A partnership sponsored by The Watermill Group completed a $4 million equity offering.
Watermill-MPI
Partners, L.P. attracted 42
unspecified investors, according to the related SEC filing.
Union Hopes for Second Chance with Kruger
The union representing workers at a troubled Kruger newsprint mill in western Newfoundland says it is hoping to arrange a second
vote on pension reform that might keep Corner Brook Pulp and Paper running.
Quad/Graphics' Depew Under Sale Contract
Former Quad/Graphics building is under contract for purchase:
Quad/Graphics’ former plant in Depew may soon have a new owner.
The 850,000-square-foot facility is under contract to a prospective buyer, said Richard Schechter, senior director with Pyramid Brokerage Co.’s Buffalo office. Pyramid has marketed the property for sale.
Quad/Graphics’ former plant in Depew may soon have a new owner.
The 850,000-square-foot facility is under contract to a prospective buyer, said Richard Schechter, senior director with Pyramid Brokerage Co.’s Buffalo office. Pyramid has marketed the property for sale.
Forbes Launches New Title
Forbes Media plans to debut Forbes Brazil,
which will be published in Portuguese, in July. The publisher is launching the
new magazine, its 22nd international edition, in partnership with BPP LTDA,
which is also publishes Billboard Brazil.
RDA Asking Bondholders to Accept Offer
Reader’s Digest Association CEO Robert Guth is asking bondholders to
take a 5% haircut on its senior debt. Nearly $60.7 million has been earmarked for
the tender offer. The company said yesterday that it was giving bondholders
until June 14 to decide whether to accept the take-it-or-leave-it offer on
senior secured notes due in 2017.
The publisher of the iconic Reader’s Digest,
which is published in 78 countries, is using proceeds from its recent sale of
Allrecipes.com for $175 million to pay off the bondholders.
DMA Not Looking for New CEO
Linda Woolley, named last week as acting president-CEO
of the Direct Marketing Association following the resignation of Larry Kimmel,
may be in that role for quite a while. Woolley told BtoB that there is
no official search process in place to seek a permanent operational head for
DMA.
'House Beautiful' First with Print to Pinterest
'House Beautiful' becomes first Pinterest-enabled print magazine: 'House Beautiful' readers can now pin images directly from the print magazine to Pinterest using a new solution from Digimarc Corporation.
Houghton Mifflin Harcourt Files for Bankruptcy
Houghton Mifflin Harcourt Officially Files Chapter 11 Bankruptcy: Houghton Mifflin Harcourt Publishers Inc filed for Chapter 11 bankruptcy protection on Monday after the struggling textbook publisher agreed with its creditors to eliminate about $3.1 billion of debt.
Monday, May 21, 2012
NA April Coated Mechanical Demand Up
As reported by the Pulp & Paper Products Council, April North American coated mechanical shipments fell -1.1%, demand was up +3.6% and imports declined -8.8%. The operating rate was 86%. Coated woodfree shipments decreased -1.4%, demand was down -1.1% and imports rose +6.5%. The operating rate was 84%. North American SC-A/SC-A+ shipments fell -16.3%, demand declined -22.3% and imports decreased -38.3%. The operating rate for all Supercalendered paper was 100%.
St. Mary's Fate
A
month ago St Mary’s Paper mill has been officially purchased by Ontario-based
Riversedge Development Inc. through an Ontario court approved receivership
process.
Over the course of this year, the Riversedge team will be undertaking a number of activities to prepare the former St. Marys Paper property for redevelopment.
The first step will be the decommissioning of the mill.
Over the course of this year, the Riversedge team will be undertaking a number of activities to prepare the former St. Marys Paper property for redevelopment.
The first step will be the decommissioning of the mill.
Port Hawkesbury Update; Lawsuit & Power Agreement
Amec
Americas Ltd. of Dartmouth is suing NewPage Port Hawkesbury Corp. and Nova
Scotia Power Inc. for $1,522,490.72 it alleges it is owed for unpaid design,
engineering and construction management work on a controversial $208-million
biomass project.
Under
a proposed arrangement with Nova Scotia Power, the mill will pay for all
incremental costs associated with the mill being on the NSP system, and
contribute to the utility’s fixed costs.
The
private utility would also take a stake in the mill and be paid for electricity
via dividends.
Marc
Dube, the mill’s proposed restructuring manager said that 315 people
will be hired for the mill, including some who will carry out capital
improvements at the mill.
FPAC; Vision 2020 for Forest Product Industry
The Forest Products Association of Canada (FPAC) is today unveiling a new
industry-led vision that outlines where the forest industry sees itself by the
year 2020. Through its accompanying goals, the vision will challenge
companies, governments and other partners to find innovative ways to further
transform the sector to reach its potential.
Under the brand of "Canada's Natural Advantage", the FPAC vision
states that "by 2020, the Canadian forest products industry will power
Canada's new economy by being green, innovative and open to the world. It
is a place to grow and prosper."
WE Paper Demand Declines
Paper demand falls across Western Europe:
Using latest figures from IMF, Eurograph and ZenithOptimedia the report shows demand for coated, wood-containing paper used in books and newsprint fell by 8% in Q1 of 2012 compared with the same period last year. Total European demand for magazine paper also declined by 4%.
Magazine SC paper was the only product to experience a rise in demand, increasing by 3%, while Western Europe deliveries showed a slight increase of 1%.
Using latest figures from IMF, Eurograph and ZenithOptimedia the report shows demand for coated, wood-containing paper used in books and newsprint fell by 8% in Q1 of 2012 compared with the same period last year. Total European demand for magazine paper also declined by 4%.
Magazine SC paper was the only product to experience a rise in demand, increasing by 3%, while Western Europe deliveries showed a slight increase of 1%.
USPS Offering Summer Discounts
For the second summer in a row, the U.S. Postal Service is offering
discounts for summer mailings that use QR codes.
The postal service giving
mailers a 2% discount, down from the 3% offered to participating mailers for
the past two years.
During July
and August, the discounts will apply to standard and first class letters,
flats and cards that include a two-dimensional barcode or other media that can
be read or scanned by a mobile device, according to the USPS. These codes can
go directly to smartphone users’ personal URLS, according to the USPS.
Standard Register Receives NYSE Notice
Standard Register Receives Continued Listing Standards Notice from NYSE: Standard Register today announced that on May 14, 2012, the Company was notified by the New York Stock Exchange (NYSE) that it was not in compliance with the NYSE’s continued listing standard that requires that the average closing price of a listed company’s common stock not fall below $1.00 per share for any consecutive 30-trading-day period.
Friday, May 18, 2012
NewPage Sheet Increase
Effective with deliveries 7/1/12, NewPage is increasing the price for coated sheet products, Anthem/Fortune/Gusto the following: 60# & 70# text weight $3.00 cwt, all cover stock and greater than 70# text weights $2.00 cwt.
Resolute Now Owns 74.56% of Fibrek
Resolute now owns 74.56% of Fibrek:
Resolute is planning to carry out a second step transaction to acquire the Fibrek shares not deposited in the offer.
Resolute is planning to carry out a second step transaction to acquire the Fibrek shares not deposited in the offer.
Kruger To Reassess Viability of Corner Brook P&P
Kruger to reassess viability of Corner Brook operation after vote doesn’t go their way:
One of the four pension plan groups at Corner Brook Pulp and Paper voted against giving Kruger 10 years, instead of 5, to repay the shortfall in their pension plans. The pension relief measures were a crucial element in Kruger’s strategy for the mill to improve its competitiveness and secure its future.
One of the four pension plan groups at Corner Brook Pulp and Paper voted against giving Kruger 10 years, instead of 5, to repay the shortfall in their pension plans. The pension relief measures were a crucial element in Kruger’s strategy for the mill to improve its competitiveness and secure its future.
EU Ecolabel Awarded to UPM Mill
EU Ecolabel awarded to UPM Plattling mill
All UPM paper products produced at UPM Plattling mill in Germany have now been granted the EU Ecolabel. "The EU Ecolabel is a proof of our products’ excellent overall environmental performance and thus low environmental impact,” says Päivi Rissanen, UPM's Environmental Director for Paper Business Group.
All UPM paper products produced at UPM Plattling mill in Germany have now been granted the EU Ecolabel. "The EU Ecolabel is a proof of our products’ excellent overall environmental performance and thus low environmental impact,” says Päivi Rissanen, UPM's Environmental Director for Paper Business Group.
USPS Details Mobile Incentive Program
USPS details mobile promotion for direct mailers: The U.S. Postal Service's upcoming 2-D barcode incentive program for direct mailers has been simplified from last summer's inaugural promotion, with new marketer requirements based on mobile best practices.
USPS Moves Ahead With Consolidation Plan
Postal Service Moves Forward with Location Consolidation Plan: Despite a bill partially designed to stop this effort, the United States Post Service will move forward with its 9-month modified consolidation plan. The first step will consolidate 48 locations this summer, with larger-scale consolidation to follow at the start of 2013.
70% of Consumers Welcome Mobile Ads
Study: 70% of consumers welcome mobile ads: Convenience and mobile advertising are key drivers of mobile shopping, said Joe Laszlo, senior director of the Interactive Advertising Bureau's Mobile Marketing Center of Excellence.
April Industrial Production Rebounds
http://www.businessweek.com/news/2012-05-16/u-dot-s-dot-april-industrial-production-and-capacity-report-text
Industrial production increased 1.1 percent in April. Output is now reported to have fallen 0.6 percent in March and to have moved up 0.4 percent in February; previously, industrial production was estimated to have been unchanged in both months.
Industrial production increased 1.1 percent in April. Output is now reported to have fallen 0.6 percent in March and to have moved up 0.4 percent in February; previously, industrial production was estimated to have been unchanged in both months.
Thursday, May 17, 2012
IP Sets Lofty Sustainability Goals
International Paper sets lofty sustainability goals:
International Paper Co. has set a group of voluntary goals that it hopes will help the company become more sustainable by 2020.
International Paper Co. has set a group of voluntary goals that it hopes will help the company become more sustainable by 2020.
Finland's P&B Production Down in Q1 2012
The Finnish forest
industry's production environment was difficult in the first quarter and demand
for several product categories was sluggish in the main market areas.,
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Fairchild Acquires Fashion Blogger
Fairchild acquires fashion blogger network: Condé Nast's Fairchild Fashion Media, which publishes WWD, has acquired Fashion Networks International, which publishes NowManifest, a blog portal.
Buffett Acquires 63 Media General Newspapers
Buffett’s Berkshire Hathaway Makes Print Play, Acquires 63 Media General Newspapers: Media General has signed agreements with Warren Buffett’s Berkshire Hathaway investment firm for the purchase of newspapers and new financing.
Research and Markets Adds Report: The Global Commercial Print Market
Research and Markets Adds Report: The Global Commercial Print Market...:
Research and Markets has announced the addition of the "Global Commercial Print Market 2011-2015" report to its offerings.
Research and Markets has announced the addition of the "Global Commercial Print Market 2011-2015" report to its offerings.
U.S. March Industrial Production/Capacity Rpt
http://www.businessweek.com/news/2012-04-17/u-dot-s-dot-march-industrial-production-and-capacity-report-text
Industrial production was unchanged in March for a second month but rose at an annual rate of 5.4 percent in the first quarter of 2012. Manufacturing output declined 0.2 percent in March but jumped 10.4 percent at an annual rate in the first quarter.
Industrial production was unchanged in March for a second month but rose at an annual rate of 5.4 percent in the first quarter of 2012. Manufacturing output declined 0.2 percent in March but jumped 10.4 percent at an annual rate in the first quarter.
Wednesday, May 16, 2012
Catalyst Amendments To Plan of Arrangement
http://foresttalk.com/index.php/2012/05/16/catalyst-papers-amendments-to-plan-of-arrangement/
Catalyst Paper has amended its proposed Plan of Arrangement under the Companies’ Creditors Arrangement Act. The Plan as so amended will be considered by Catalyst Paper’s secured and unsecured creditors at the meetings scheduled for May 23, 2012.
Catalyst Paper has amended its proposed Plan of Arrangement under the Companies’ Creditors Arrangement Act. The Plan as so amended will be considered by Catalyst Paper’s secured and unsecured creditors at the meetings scheduled for May 23, 2012.
USPS Releases Details Of Mobile Marketing Incentive
USPS Releases Details of this Summer’s Mobile Marketing Incentive Program: The U.S. Postal Service is offering the 2012 Mobile Commerce and Personalization Promotion to encourage commercial mailers to use mobile marketing tools—such as QR codes—on their mail.
99% Of Top Mags Feature Barcodes
http://printinthemix.com/fastfacts/show/563
A survey of the Top 100 U.S. magazines (by circulation) conducted by mobile engagement company has found the use of mobile action barcodes is almost universal. The percentage of magazines with at least one such code went from 78% in Q1 2011 to 99% in Q1 2012.
A survey of the Top 100 U.S. magazines (by circulation) conducted by mobile engagement company has found the use of mobile action barcodes is almost universal. The percentage of magazines with at least one such code went from 78% in Q1 2011 to 99% in Q1 2012.
LA Times Shutting Down LA Magazine
Los Angeles Times Shutting Down LA Magazine: The Los Angeles Times is shutting down its monthly Sunday magazine, LA. The last issue will be June 3rd and the closure comes after attempts to recast the publication through frequency reductions, management shifts and editorial change-ups.
DMA’s Kimmel Steps Down
DMA’s Kimmel Steps Down from CEO Role, Woolley Named Acting Head:The Direct Marketing Assn. (DMA) announced that Larry Kimmel has resigned as CEO to join the agency Hawkeye.
Pub Designers Name Bloomberg BW Mag of the Year
Society of Publication Designers Names Bloomberg Businessweek Magazine of the Year: The Society of Publication Designers found its Gold Award winner at the 47th Annual Design Competition in Bloomberg Businessweek. Businessweek’s win marks the 15th anniversary of the Magazine of the Year honor.
JC Penney Plans Ads
http://adage.com/article/news/jc-penney-plans-ads-explain-pricing-strategy/234787/?utm_source=daily_email&utm_medium=newsletter&utm_campaign=adage
The current marketing builds the brand but leaves consumers confused. JC Penney's marketing is entertaining consumers and building the brand, but it's not doing the "hard work" of communicating the retailer's revamped pricing strategy.
The current marketing builds the brand but leaves consumers confused. JC Penney's marketing is entertaining consumers and building the brand, but it's not doing the "hard work" of communicating the retailer's revamped pricing strategy.
Digital Challenges, But Traditional Still Tops
http://www.mediapost.com/publications/article/174522/digital-challenges-but-traditional-still-tops-wit.html Bolstered by political advertising, TV attracted the most ad dollars in early 2012, But Social is starting to steal the spotlight from Online Display, as Digital has clearly matured in campaigns. According to a new Strata quarterly survey of leading agencies, the advertising economy is positive and appears to be back to a new normal. Focus on print increased 217% over fourth quarter 2011.
Tuesday, May 15, 2012
Resolute Owns 70.9% of Fibrek
Together with the shares Resolute acquired up to and
including May 4, they hold approximately 70.9% of the currently outstanding
Fibrek shares. Resolute reminds Fibrek's shareholders that, as
previously announced, the offer will not be further extended and will expire
definitively at 5:00 p.m. (Eastern time) on May 17, 2012.
Source Interlink’s Hot Rod Brand Relaunches
Source Interlink’s Hot Rod Brand Relaunches: Building to its 65th anniversary next year, Source Interlink's Hot Rod brand readies a comprehensive relaunch across print, online, video and social media, including a 40-50 percent editorial page increase for the magazine.
Time's Money and This Old House Partner
Time Inc.’s Money and This Old House Partner for Editorial Supplement:
In an effort to cross-brand and better serve audiences that resulted in a unique sponsorship opportunity, Time Inc. titles Money and This Old House partnered on an editorial supplement. The supplementary content, dubbed “Safe at Home: 25 Ways to Protect Your Biggest Investment,” appears in both magazines and their online counterparts, as well as in Time Inc. sister publication Real Simple.
In an effort to cross-brand and better serve audiences that resulted in a unique sponsorship opportunity, Time Inc. titles Money and This Old House partnered on an editorial supplement. The supplementary content, dubbed “Safe at Home: 25 Ways to Protect Your Biggest Investment,” appears in both magazines and their online counterparts, as well as in Time Inc. sister publication Real Simple.
Ziff Davis Acquires Computer Shopper
Ziff Davis acquires Computer Shopper: Ziff Davis, which publishes PCMag.com, has acquired Computer Shopper, a website offering comparison shopping of technology products, from SX2 Media Labs.
Encyclopaedia Britannica's Sales Surge
http://www.heraldnet.com/article/20120406/NEWS02/704069880
It turns out all Encyclopaedia Britannica had to do to breathe new life into the sale of its print edition was to kill it. Since Britannica announced last month that it was discontinuing its print editions, sales have skyrocketed. The company will likely sell out by the end of the month. The company will hold onto a few sets so they can be displayed somehow or donated to museums.
It turns out all Encyclopaedia Britannica had to do to breathe new life into the sale of its print edition was to kill it. Since Britannica announced last month that it was discontinuing its print editions, sales have skyrocketed. The company will likely sell out by the end of the month. The company will hold onto a few sets so they can be displayed somehow or donated to museums.
Monday, May 14, 2012
Verso Q1 Results, Net Loss
http://investor.versopaper.com/releasedetail.cfm?ReleaseID=672917
Verso Paper today reported financial results for the first quarter of 2012. Net loss before items of $39.0 million in 2012, compared to a net loss before items of $18.1 million in 2011.
Verso Paper today reported financial results for the first quarter of 2012. Net loss before items of $39.0 million in 2012, compared to a net loss before items of $18.1 million in 2011.
Catalyst Pushes Creditor Meeting to 5/23
Catalyst Paper pushes creditor meeting back another 5 days:
Catalyst Paper has pushed the meetings of its secured and unsecured creditors back another 5 days to May 23.The creditors are to meet to discuss the plan of arrangement under the Companies’ Creditors Arrangement Act.
Catalyst Paper has pushed the meetings of its secured and unsecured creditors back another 5 days to May 23.The creditors are to meet to discuss the plan of arrangement under the Companies’ Creditors Arrangement Act.
RRD BB+ Default Rating
Fitch Affirms R.R. Donnelley’s BB+ Default Rating, Classifies Outlook as Stable: ” The ratings reflect the company’s intention to reduce its absolute levels of debt.
NA P&P Rail Freight Down 1.4%
http://www.aar.org/NewsAndEvents/Freight-Rail-Traffic/2012/05/~/media/aar/weekly_traffic_reports/2012/2012-05-10-railtraffic.ashx
North American pulp and paper railroad freight for the week ending May 5 was down 1.4% from a year ago to 9,124 carloads, the Assn of American Railroads reported.
North American pulp and paper railroad freight for the week ending May 5 was down 1.4% from a year ago to 9,124 carloads, the Assn of American Railroads reported.
.
Consumers Prefer Offline Marketing Offers
Consumers Welcome and Prefer Offline Restaurant Marketing Offers Most: Consumers were asked to what extent they would welcome various forms of marketing communications from restaurants. Four out of five adults (80%) said they welcome a restaurant coupon in a coupon booklet. Almost three-quarters (73%) welcome a brochure or menu from a restaurant sent in the mail. The same percentage welcomed an ad in a local paper (73%), followed by an ad on TV (68%).
Friday, May 11, 2012
Catalyst Reports Q1 Net Loss
http://www.catalystpaper.com/media/news
Catalyst Paper recorded a net loss of $25.6 million in the first quarter of 2012 due primarily to the impact of restructuring and reorganization expenses of $27.6 million. Before specific items, the net loss was $9.6 million.
Catalyst Paper recorded a net loss of $25.6 million in the first quarter of 2012 due primarily to the impact of restructuring and reorganization expenses of $27.6 million. Before specific items, the net loss was $9.6 million.
USPS $3.2 Billion Q2 Loss
Postal Service’s $3.2 Billion Q2 Loss Underscores Need for Legislative Changes
The Postal Service ended its second quarter (Jan. 1 – March 31, 2012) with a net loss of $3.2 billion, compared to a net loss of $2.2 billion for the same period last year.
The Postal Service ended its second quarter (Jan. 1 – March 31, 2012) with a net loss of $3.2 billion, compared to a net loss of $2.2 billion for the same period last year.
Cenveo Posts Net Loss
Cenveo Posts Net Loss on Net Sales Decline:
Cenveo Inc. announced its results for the three months ended March 31, 2012. The company generated net sales of $455.6 million for the first quarter of 2012, compared to $477.0 million in the first quarter of 2011.
Cenveo Inc. announced its results for the three months ended March 31, 2012. The company generated net sales of $455.6 million for the first quarter of 2012, compared to $477.0 million in the first quarter of 2011.
Thursday, May 10, 2012
Quad Q1 Sales Dip, Earnings Snap Back
Quad/Graphics’ Sales Dip, but Earnings Rebound: Quad/Graphics Inc. reported results for its first quarter ending March 31, 2012. Highlights for the first quarter: Net sales totaled $990 million.
Resolute/Fibrek Cooperating For Smooth Transition
http://resolutefp.mediaroom.com/index.php?s=28238&item=128268
AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that Fibrek Inc.and Resolute are cooperating on an orderly transition to Resolute's effective control. The goal for both parties is to minimize any disruption to Fibrek's key relationships, including its employees, customers, suppliers and other partners.
AbitibiBowater Inc., doing business as Resolute Forest Products, today announced that Fibrek Inc.and Resolute are cooperating on an orderly transition to Resolute's effective control. The goal for both parties is to minimize any disruption to Fibrek's key relationships, including its employees, customers, suppliers and other partners.
Fibrek Posts Net Loss in Q1
Fibrek posts net loss of $23.2 million in first quarter:
Fibrek Inc. has posted a net loss of $23.2 million in its first quarter of 2012, compared with net earnings of $3.5 million in the corresponding period of 2011. Consolidated sales reached $122.1 million, a decrease of $10.0 million when compared with sales of $132.1 million in the first quarter of 2011.
Fibrek Inc. has posted a net loss of $23.2 million in its first quarter of 2012, compared with net earnings of $3.5 million in the corresponding period of 2011. Consolidated sales reached $122.1 million, a decrease of $10.0 million when compared with sales of $132.1 million in the first quarter of 2011.
Sappi Net Profit Up From Loss in 2011
http://www.paperage.com/2012news/05_10_2012sappi_limited_earnings.html
Sappi Limited reported a profit for its second fiscal quarter ending March 2012 of US$58 million compared to a loss of US$74 million in its second quarter 2011. The group achieved a net profit for the period of US$58 million (Q2 2011 US$74 million loss) and EPS of 11 US cents (Q2 2011 loss of 14 US cents) in the second quarter of the 2012 financial year.
Sappi Limited reported a profit for its second fiscal quarter ending March 2012 of US$58 million compared to a loss of US$74 million in its second quarter 2011. The group achieved a net profit for the period of US$58 million (Q2 2011 US$74 million loss) and EPS of 11 US cents (Q2 2011 loss of 14 US cents) in the second quarter of the 2012 financial year.
IP Again Tops Paper/Forest Co's On Fortune 500
http://money.cnn.com/magazines/fortune/fortune500/2012/industries/11/
IP again led the forest and paper products industry on the 2012 Fortune 500 list of top American companies. IP was ranked at #111 this year,down from #105 position in 2011. They were followed by Weyerhaeuser at #374 and Domtar at #436.
IP again led the forest and paper products industry on the 2012 Fortune 500 list of top American companies. IP was ranked at #111 this year,down from #105 position in 2011. They were followed by Weyerhaeuser at #374 and Domtar at #436.
IPDA,MPA Launch Campaign Promoting Mags
http://www.magazine.org/association/press/mpa_press_releases/rebus-2012.aspx
The International Periodical Distributors Association (IPDA) and MPA-The Association of Magazine Media have launched a collaborative initiative focused on promoting, informing and engaging the retail community about the value and vitality of the magazine category in the retail marketplace.
The International Periodical Distributors Association (IPDA) and MPA-The Association of Magazine Media have launched a collaborative initiative focused on promoting, informing and engaging the retail community about the value and vitality of the magazine category in the retail marketplace.
“
Wednesday, May 9, 2012
Consolidated Graphics Reports Declines
Consolidated Graphics Reports Declines in Revenue and Income: Consolidated Graphics announced financial results for its fourth quarter and year ended March 31, 2012. Its revenue for the quarter totaled $250.6 million, a $7.6 million decrease (2.9 percent) compared to the prior-year quarter.
Catalyst Moves Creditor Meetings To May 18th
http://foresttalk.com/index.php/2012/05/09/catalyst-paper-pushes-creditor-meetings-back-another-3-days/
Catalyst Paper has announced a three-day extension for the meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies’ Creditors Arrangement Act. The meetings, previously scheduled for May 15, 2012, will now be held on May 18, 2012.
Catalyst Paper has announced a three-day extension for the meetings of its secured and unsecured creditors to consider the plan of arrangement under the Companies’ Creditors Arrangement Act. The meetings, previously scheduled for May 15, 2012, will now be held on May 18, 2012.
Norway Central Bank's 5% Stake in Stora
Norway central bank takes 5 pct stake in Stora:
Norway's central bank raised its stake in Finnish paper maker Stora Enso to over 5 percent, according to a regulatory filing on Wednesday.
Norway's central bank raised its stake in Finnish paper maker Stora Enso to over 5 percent, according to a regulatory filing on Wednesday.
AF&PA Testimony In Favor Of Illegal Logging
American Forest & Paper Association (AF&PA) President and CEO Donna Harman testified today on Capitol Hill on the implementation and enforcement of the 2008 Lacey Act amendments, citing industry concerns over the proposed RELIEF Act (H.R. 3210) and FOCUS Act (H.R. 4171).
USPS To Cut Hours
The U.S. Postal Service is backing off a previous plan to close thousands of post offices, and will instead cut hours at 13,000 rural facilities in an effort to save $500 million a year.
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