Ernst & Young Recommends Port Hawkesbury Sale

http://thechronicleherald.ca/business/125285-monitor-recommends-newpage-sale-to-pacific-west

The court-appointed monitor overseeing the sale of NewPage Port Hawkesbury is recommending creditors vote in favour of selling the mill to Pacific West Commercial Corp.

In his 12th report released Thursday, Ernst & Young senior vice-president Mathew Harris recaps the creditor protection process, from the dire financial straits that forced the beleaguered mill to shutter last September, to the lengthy ongoing sales process.

Sartell Work Transferred to Bucksport & Jay

http://bangordailynews.com/2012/08/03/business/bucksport-jay-verso-mills-to-see-more-work-but-not-more-jobs-from-closure-of-minnesota-facility/

Representatives from Verso say the workload from Sartell (closed since a fire in May) will be transferred to Verso mills in Bucksport and Jay, but that the increased paper production will not result in more jobs. “Those products will be made within existing capacity,” said Bill Cohen, a Verso spokesman in Bucksport.

SP Newsprint Dublin Mill Idled

http://www.macon.com/2012/08/03/2121363/dublins-sp-newsprint-closes-temporarily.html

SP Newsprint shut down its mill in Dublin at the end of July, and although a company official said the closure was not permanent, he declined to say when it would reopen. The mill has the capacity to produce ~600,000 tpy of newsprint on two PMs.

SP Newsprint Holdings LLC filed for Chapter 11 bankruptcy protection in November 2011.

Oji and Nippon Report Results

http://www.ojipaper.co.jp/english/

http://www.np-g.com/e/ir/index.html

Japanese giants Nippon Paper Group (NPG) and Oji Paper have released their results for the first quarter of the current financial year there, which started at the beginning of April.

Nippon's net income for the April to June period reached ¥399 million ($5 million), a decline of 75% from the ¥1.6 billion yen profit turned in the same period last year.

Oji also suffered though, seeing its profits slide from ¥8.137 billion in the first quarter of last year to ¥6.789 billion this year.

While NPG's overall profits showed a marked drop, its sales were slightly up from the April-June period last year, climbing half a percent to ¥251 billion.

But Oji marked a small decline by the sales measure, with Q1 sales this year down almost a percentage point to ¥304 billion.

Alberta Newsprint to Build Power Plant

Alberta Newsprint to build 65 MW power generation plant
Alberta Newsprint Company (ANC) announced ownership approval for construction of a power generation plant at its newsprint operation in Whitecourt, Alberta.
ANC is a joint venture owned by West Fraser and Whitecourt Newsprint Company Limited Partnership. ANC is a preferred supplier of high-quality newsprint in North America.

Resolute Forest Products' Pension Problems

Resolute Forest Products pension plans underfunded by $1.9 billion:
Resolute Forest Products‘ pension plans are underfunded by $1.9 billion and its employees say they have already given up enough to keep the company in operation.
Resolute Forest Products has not met the minimal solvency levels in its pension plans regulated by Quebec and Ontario’s funding relief regulations.  These regulations, adopted in 2011, affect approximately 80% of Resolute Forest Product’s unfunded pension obligations.
As a result of these new regulations, Resolute Forest Products has until March 2013 to adopt corrective measures to attain the target solvency ratio within 5 years.

Quad/Graphics Completes Integration, Reports H1 Results

http://www.foliomag.com/2012/quad-graphics-completes-two-year-worldcolor-integration

At the close of the first half this year, Quad/Graphics, the Sussex, Wisconsin-based printer and media services company, marked the official end to the integration of its purchase of Worldcolor two years ago. And while the company was able to pay a $.25 quarterly dividend, revenues were down about $8 million at the end of the half, to $1.92 billion, when compared to the same period last year.

RDA Reports Q2 Results

http://www.prnewswire.com/news-releases/rda-holding-co-announces-results-for-the-second-quarter-ended-june-30-2012-165407606.html

RDA Holding Co., parent company of The Reader's Digest Association, Inc. (together with its subsidiaries and affiliated entities, "RDA"), the global multi-brand and multi-platform media and direct marketing company, announced today its financial results for the second quarter ended June 30, 2012.

Consolidated Graphics Reports Q1 FY 2012

http://www.prnewswire.com/news-releases/consolidated-graphics-reports-financial-results-for-the-quarter-ended-june-2012-165401956.html

Consolidated Graphics, Inc. today announced financial results for its first quarter ended June 30, 2012.

Revenue for the June quarter was $238.3 million, a $5.0 million or 2.1% decline compared to the prior year quarter.

Pocket Ventures Buys Space News

http://www.foliomag.com/2012/pocket-ventures-buys-weekly-magazine-space-news

Imaginova, the Orion telescope and binocular maker, has sold off its media property Space News to Boulder, Colorado-based Pocket Ventures, a media investment firm set up by a team of former Inside Communications executives. The brand will be housed under a new company called Space News Inc.

Amazon Textbook Rental Offer

http://www.businesswire.com/news/home/20120806006289/en/Amazon-Launches-Textbook-Rental

Amazon.com, Inc. today announced the launch of Amazon Textbook Rental. Now college students can choose from thousands of textbooks to rent for a semester.

Harte-Hanks Reorganizes Direct Marketing

http://www.btobonline.com/apps/pbcs.dll/article?AID=/20120809/STRATEGY0202/308099999&template=printart

Harte-Hanks Inc. has reorganized its direct marketing operations into four separate focus areas and named leaders for each.

New York Magazine Expands Blog

http://www.mediapost.com/publications/article/180699/ny-debuts-the-cut-as-standalone-fashon-site.html?print

New York magazine has expanded its fashion blog, "The Cut," as a standalone fashion and lifestyle Web site with twice its initial volume of original photography and writing. The Cut’s editorial is arranged on five main sections: fashion, beauty, goods, fame and love & war.

Gotham Names Publisher

http://www.mediabistro.com/fishbowlny/gotham-names-david-katz-publisher_b65834

Gotham has named David Katz its new publisher. Katz comes to the magazine from Field & Stream, where he served as digital sales manager for six months. Prior to that Katz was the associate publisher of Brides from 2004 to 2011.

Davler Buys LI Parent

http://www.foliomag.com/2012/davler-media-group-buys-long-island-parent-magazine

Davler Media Group, publisher of NYMetroParents, City Guide and Promenade, has acquired Long Island Parent and its associated website from Wordsmiths Media, LLC. In all, Davler publishes 14 magazines and produces five annual live events. It distributes 3 million copies of its City Guide magazine to more than 300 hotels. The eight editions of NYMetroParents distribute 400,000 copies monthly.

NORPAC Plant Gets $60M Efficiency Overhaul

NORPAC, BPA, and Cowlitz PUD Partner on Largest Ever Northwest Energy Efficiency Project: Executives from Weyerhaeuser, Nippon Paper Industries, Cowlitz County Public Utility District, and the Bonneville Power Administration (BPA) will gather today at the North Pacific Paper Corporation(NORPAC) facility to celebrate the largest industrial energy efficiency project in BPA history and one of the largest energy efficiency projects in the United States to date.
When complete, the project is expected to save 100,000,000 kilowatt-hours per year. The energy savings from the completed project will save enough energy to serve approximately 8,000 Northwest homes. The first phase of the project was completed in June 2011 and the second and final phase is expected to be completed in the first quarter of 2013.

http://www.sustainablebusinessoregon.com/national/2012/08/washington-paper-plant-gets-60m.html

Two partners in the North Pacific Paper Corp., the largest newsprint and publication-paper factory in North America, are pouring $60 million into reducing the facility’s energy use by 6 percent, or 12 megawatts yearly.
The facility is usually called NORPAC, and supplies paper for newspapers in Washington and Japan, as well as for well-known books including the "Twilight" series.

Catalyst Mill Is Not Being Sold

http://www.azjournal.com/2012/08/09/mill-is-not-being-sold-says-catalyst/
Though Jahm Najafi, CEO of Najafi Cos., reportedly told The Arizona Republic he is interested in purchasing Catalyst Paper’s Snowflake mill, Catalyst is not in talks with him. Najafi’s company owns and operates Snowflake Power, which runs the biomass power boiler located on the mill property. Catalyst Paper announced July 31 the mill in Snowflake would close permanently.“We are not in talks with anyone,” said Lynn Brown, spokesperson for Catalyst Paper. She said Catalyst had exhausted every effort; including attempting to find a buyer for the mill and switching to higher grade paper production in an effort to save the facility. She said the company is now committed to making an orderly exit from the facility. She told The Tribune-News that the facilities’ building would remain and could be used in a future enterprise of some sort.“But it won’t be a paper mill,” Brown said.

Verso Sartell Shutdown Will Cost Dearly

Sartell Shutdown Will Cost Verso Dearly: Shutting down the Sartell, Minnesota paper mill will cost Verso Paper Corp. more than the entire company is worth, Verso revealed yesterday. North America's second largest maker of coated paper will need cash outlays of about $33 million, most in the current quarter, for severance, etc.

Resolute Celebrates Planting Of Trees

Resolute Forest Products celebrates the planting of 1 billion trees in Ontario:
 Resolute Forest Products Inc. celebrated the planting of one billion trees at its forestry operations in northern Ontario today. This achievement is the result of collective efforts made over the past 30 years by the company, its employees, numerous contractors and suppliers, and the Ontario Ministry of Natural Resources.
“This planting ceremony speaks to our long, successful and proud Company history in northern Ontario and our unwavering commitment to forest renewal and sustainable forestry,” said Richard Garneau, President and Chief Executive Officer of Resolute. “Forests are among the world’s only renewable resources. We are fortunate to be involved in an industry that is truly sustainable.”

Resolute Forest Products pension plans underfunded by $1.9 billion:
http://foresttalk.com/index.php/2012/08/10/resolute-forest-products-pension-plans-underfunded-by-1-9-billion/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+foresttalk%2FZdAe+%28ForestTalk%29&utm_content=Google+Reader
Resolute Forest Products has not met the minimal solvency levels in its pension plans regulated by Quebec and Ontario’s funding relief regulations. These regulations, adopted in 2011, affect approximately 80% of Resolute Forest Product’s unfunded pension obligations.
As a result of these new regulations, Resolute Forest Products has until March 2013 to adopt corrective measures to attain the target solvency ratio within 5 years. The company needs to reduce its pension plan deficits by approximately $500 million.

Seneca Backs Third Yorkshire Printer

Seneca Investments backs third Yorkshire printer:
In January, Seneca signed a deal with Sheffield-based Whitesprint, which saw the investment specialist acquire around a 50% shareholding in the business. This was followed in February by a similar agreement with Doncaster-based print company Askews.
Intoprint UK has now become the latest investment for Seneca, which is targeting print companies in the same locality with an annual turnover of £1m-£5m that are struggling in the economic climate. The Ecclesfield-based litho and digital printer signed over a 50% stake in return for the investment.

Lane Bryant Campaign Returns to Print

A Print Focus Returns in Lane Bryant Campaign: Lane Bryant, the women’s plus-size fashion retailer, is introducing a $10 million advertising and marketing campaign to make its clothing and lingerie more relevant to current and prospective customers. The campaign features new print advertising; a revamped Website and social media outreach; and in-store and direct marketing initiatives.
This clothing appears in print advertising, a new medium for the retailer, which has not done extensive magazine advertising since 2007. Ms. Crystal said Lane Bryant was turning to the print medium now because its target customer is “engaged with print.        

Canadian Mags Turn to Fed Gov For Help

Canadian Magazines Turn to Federal Government for Help with a Digital Revolution: Canadian magazine publishers want taxpayers to help them reinvent themselves, asking the federal government for money to develop digital products they hope will compensate for falling print subscriptions. The trade association that represents Canadian publishers has been quietly lobbying federal officials in an attempt to win funding to develop multimedia-rich digital editions that go beyond the capabilities of print.

US Paper Companies Eyeing India For Growth

Deloitte: U.S. Paper Companies Eyeing India for Growth: India is quickly becoming an attractive new market for the American pulp and paper industry, according to "Turning the page on India's paper industry: A new chapter in investment potential and growth," a new report from Deloitte. India's paper industry is expected to grow at six to seven percent year over year, with the packaging industry poised to grow at 22 to 25 percent annually," said John Dixon, principal, Deloitte Consulting LLP. "India has 15 percent of the world's population, but consumes less than two percent of the world's paper. Meeting the growing demand will likely require a correspondingly significant investment in both new machines and upgrading of existing facilities."

German Recycled Graphic Paper Prices Down

http://www.euwid-paper.com/news/singlenews/archive/2012/august/Artikel/recycled-graphic-paper-prices-inch-down-in-germany.html
Market participants report downward pressure on German prices for recycled graphic paper due to softening demand. The current weak economic climate in many mature and developing European economies is also having an effect on the German market for recycled graphic paper. While market participants in certain niches still report smooth sailing, the majority of recycled graphic paper producers complained of sales problems and softening capacity utilisation rates. Slight price cuts could already been detected for recycled office paper in the second quarter of the year. Now coated paper grades are also facing the same downward trend. In recent weeks, recycled LWC has been subject to the same price reductions seen for standard paper, EUWID respondents explained.

Nippon Sees Profit Drop

http://www.np-g.com/e/ir/presentation120809.pdf
Nippon's  net income for the April to June period reached ¥399 million ($5 million), a decline of 75% from the ¥1.6 billion yen profit turned in the same period last year. As profits showed a marked drop, its sales were slightly up half a percent from the April-June period last year.

Orient Paper Announces Q2 2012 Results

Orient Paper Inc. Announces Second Quarter 2012 Results: Orient Paper, Inc. a leading manufacturer and distributor of diversified paper products in northern China, today announced financial results for the second quarter ended June 30, 2012.
Highlights: Revenue declined 14.5% year-over-year to $35.5 million
Gross profit was $5.8 million with gross margin of 16.3%
Operating income declined 37.0% year-over-year to $5.0 million
Net income was $3.6 million, or $0.20 per fully diluted share

Ilim Increases Production In Russia

Ilim Group Increases Production Output in Northwest Russia: From January to June 2012 Koryazhma Mill (Arkhangelsk Oblast) increased its production volume by 2%, as compared to the similar period of the previous year. Production output totaled 543,000 tons, including 189,000 tons of market pulp. The increase amounts to 7% against production output in the first six months of 2011. The Mill produced 118,000 tons of paper, which is 10% above the production output for the similar period of the last year. This includes 43,000 tons of sack paper, 57,000 tons of offset paper, and 18,000 tons of wallpaper.

Verso Reports Net Loss In Q2 Up From 2011

http://investor.versopaper.com/releasedetail.cfm?ReleaseID=699478
Verso Paper generates net loss of $20.7 million in 2Q 2012, up from net loss of $24.3 million in year-earlier period."Demand in the coated industry continued to be challenged during the second quarter of 2012 which resulted in a delay in the announced price increases during the quarter. This was primarily a result of the drop-off in advertising spending and slowdowns in the commercial print area which are impacted by the sluggish GDP growth. However, our coated groundwood and coated freesheet volumes were relatively flat with last year's levels and we did a good job of managing our pricing relative to overall market demand. Adjusted EBITDA was comparable to the first quarter of this year and slightly better if you exclude the over $5.0 million impact related to scheduled maintenance outages we took during the second quarter," said David Paterson, President and Chief Executive Officer of Verso.

http://www.4-traders.com/VERSO-PAPER-CORP-3023920/news/Verso-Paper-Corp-Reports-Second-Quarter-2012-Results-14453436/
• EBITDA of $44.4 million in the second quarter of 2012 compared to $38.8 million in the second quarter of 2011, and Adjusted EBITDA before pro forma effects of profitability program of $23.5 million in the second quarter of 2012, compared to $43.6 million in the second quarter of 2011. (Note: EBITDA and Adjusted EBITDA are non-GAAP financial measures and are defined and reconciled to net income later in this release). • Net loss of $20.7 million in the second quarter of 2012, or $0.39 per diluted share, compared to a net loss of $24.3 million, or $0.46 per diluted share in the second quarter of 2011. • Operating loss of $9.5 million in the second quarter of 2012 compared to operating income of $7.0 million in the second quarter of 2011. • Net sales of $365.3 million in the second quarter of 2012 compared to $398.8 million in the second quarter of 2011.

Easement Exchange UPM and Minn Power

Easement Exchange between UPM Blandin and Minnesota Power will Restore 160 Acres of Forestland:UPM Blandin and Minnesota Power have agreed to an easement exchange that will re-establish 160 acres of forest land north of Taconite. MP is vacating an existing utility easement for No. 94 transmission line on Blandin forest land. In exchange, Blandin has granted MP a 130-acre utility easement on UPM land north of Nashwauk to establish an electric transmission line that will shore up regional reliability for Iron Range communities and the area's Essar Steel project.This project restores more than 70 acres of wetlands and 90 acres of upland forest, and reconnects approximately 15,000 acres of forest land.

Kruger Receives FSC Cert For Corner Brook Mill

Kruger receives FSC certification for Corner Brook mill:
Kruger Inc. has announced that the woodland operations at its Corner Brook mill in Newfoundland and Labrador has  achieved certification under the Forest Stewardship Council® (FSC®) National Boreal Standard. Issued by QMI-SAI Canada Limited, an FSC-accredited organization, the certificate recognizes that all woodland operations comply with FSC requirements, including management planning, road construction and maintenance, harvesting operations, fibre transportation, silviculture and support activities.

USPS Q3 Loss Of $5.2 Billion

U.S. Postal Service Ends Third Quarter with $5.2 Billion Loss: The Postal Service ended its third fiscal quarter (April 1 to June 30, 2012) with a net loss of $5.2 billion, compared to a net loss of $3.1 billion for the same period last year. Contributing significantly to the quarter’s $5.2 billion loss was $3.1 billion of expense for the legislatively mandated prefunding of retiree health benefits. These expenses, along with the continued decline of First-Class Mail volume, more than offset the quarter’s 9 percent growth in revenue from shipping services and package delivery.

Pocket Ventures Buys Space News

Pocket Ventures Buys Weekly Magazine Space News:
Imaginova, the Orion telescope and binocular maker, has sold off its media property Space News to Boulder, Colorado-based Pocket Ventures, a media investment firm set up by a team of former Inside Communications executives. The brand will be housed under a new company called Space News Inc.

Sappi Exits Chinese Joint Venture

Sappi Limited exits Chinese Joint Venture as part of Strategic Focus on High Growth Investments and Debt Reduction: Sappi Limited concluded an agreement to sell its entire 34% shareholding in the Jiangxi Chenming Paper Company Limited (JXCM), situated in Nanchang City, Jiangxi Province, China, for US$ 41,58m to the Shandong Chenming Paper Holding Company. In 2004 Sappi joined a Joint Venture (JV) created by Shandong Chenming Paper Holding Company and other partners to explore fine paper opportunities in China. A change in strategic focus by Sappi caused this investment to be reviewed and led to discussions with the Shandong Chenming Paper Holding Company, the majority shareholder and co-founding partner of the Joint Venture. The parties have been able to reach an amicable agreement which will allow Sappi to concentrate on its strategy of investing in high growth businesses, disposing of non-core assets and reducing its debt.

Neenah Paper Reports Q2 Results

Neenah Paper Reports Second Quarter 2012 Results: Neenah Paper, Inc. today reported adjusted earnings from continuing operations of ${body}.85 per diluted common share in the second quarter of 2012 compared with earnings of ${body}.49 per share in the second quarter of 2011. Net sales of $211.7 million in the second quarter of 2012 grew 16 percent compared with the second quarter of 2011. Adjusted operating income of $23.9 million increased 52 percent from $15.7 million in the prior year. Adjusted income of $13.9 million increased 78 percent compared to $7.8 million in the prior year. Adjusted earnings are reconciled to GAAP figures later in this release.

Cenveo’s Net Sales Fall, Income Show Mixed Results

Cenveo’s Net Sales Fall, but Income Show Mixed Results:Cenveo Inc. announced its results for the three and six months ended June 30, 2012. The company generated net sales of $438.9 million for the second quarter of 2012, compared to $469.9 million for the same quarter of 2011. The decrease in net sales was primarily due to lower sales in its print and envelope product lines as a result of lower direct mail volumes from our financial services customers, the closure and consolidation of a print plant and our decision to exit certain low margin businesses.

Davler Media Group Buys LI Parent Mag

Davler Media Group Buys Long Island Parent Magazine:
Davler Media Group, publisher of NYMetroParents, City Guide and Promenade, has acquired Long Island Parent and its associated website from Wordsmiths Media, LLC. Davler, which produces eight editions of NYMetro Parents for New York City, Long Island and Connecticut suburbs, plans to fold its Long Island titles into Long Island Parent and produce two monthly regional editions for Nassau and Suffolk counties. The rebranded, combined issues will start with the October issues.

Meredith's Liz Schimel Joins XO Group Board

http://www.minonline.com/news/20946.html?utm_source=twitterfeed&utm_medium=twitter
 XO Group Inc., a digital media and technology company with sites that include The Knot, The Next, The Bump and WeddingChannel, has announced two key appointments. Rob Fassino will re-join XOGroup as executive vice president, product development, following a six-year hiatus from the company he co-founded. And Meredith National Media Group executive VP/chief digital officer  (since June 2011)  Liz Schimel will join XO's board of directors. The addition of Shimel to the board hints at the possibility of Meredith Corp.'s  interest in acquiring XO’s popular wedding, pregnancy, décor, and fashion sites—which intersect with many of Meredith’s established target markets and reach a young demographic.

More On ABC Findings

http://www.nypost.com/p/news/business/newsstand_nightmare_4FjeKmvC5r23M06npVV1MI#ixzz22xY01XdO
Magazine circulation figures for the first half of 2012 confirmed the anticipated growth of digital subscriptions — up more than 70 percent — despite continued erosion in newsstand sales.Celebrity titles and some women’s magazines were particularly hard hit on the newsstand. On balance, total paid and verified circulation was basically flat, down 0.1 percent in the first six months from the same period a year ago, according to the Audit Bureau of Circulations.But single-copy sales — where publishers reap a nice profit — tumbled 9.6 percent, suggesting readers are still pinching pennies when it comes to impulse purchases.

RRD Ratings Outlook-Stable to Negative

Fitch Revises R.R. Donnelley’s Outlook from Stable to Negative:Fitch Ratings has affirmed R.R. Donnelley & Sons’ (RRD) Issuer Default Rating (IDR) at BB+ and revised the Rating Outlook to “Negative” from “Stable.” In a previous notice, Fitch had stated its concern that revenue declines in the low to mid-single digits could pressure cash flows and slow down absolute debt reduction and thereby lead to an outlook revision or rating change.

http://in.reuters.com/article/2012/08/08/idINWNA298820120808

The Outlook revision reflects the limited headroom within the ratings for the company to underperform Fitch's expectations, including Fitch's FCF generationand absolute debt reduction expectations.

Consolidated Graphics Reports Small Net Loss

Consolidated Graphics Reports Small Net Loss on Lower Sales:
Consolidated Graphics announced financial results for its first quarter ended June 30, 2012. Revenue for the June quarter totaled $238.3 million, a $5.0 million or 2.1 percent decline compared to the prior year quarter. The decline in revenue compared to the prior year quarter was due to a 2.5 percent decline in same-store sales, partially offset by sales growth related to an acquisition.

Orders Highest In 4 Years At Heidelberg In Q1

Q1 Incoming Orders the Highest in Four Years at Heidelberg: In the first quarter of financial year 2012/2013 (April 1 to June 30, 2012), Heidelberger Druckmaschinen Aktiengesellschaft (Heidelberg) recorded incoming orders of EUR 890 million (previous year: EUR 665 million), the highest figure in four years, thanks to the investment impetus created by the drupa industry trade show in May 2012. Due to the high volume of orders, the order backlog in the first quarter rose significantly to EUR 856 million, which is EUR 350 million higher.