Time Warner Ends Talks, Will Spin Off Magazines

http://mediadecoder.blogs.nytimes.com/2013/03/06/fate-of-four-time-inc-magazines-are-an-issue-in-talks-with-meredith/

Time Warner Ends Time Inc. Sales Talks with Meredith, Announces Spinoff Instead CEO Laura Lang to step down.
After weeks of reported negotiations, Time Warner has abruptly ended talks to combine Time Inc. titles with Meredith into a new company and is instead announcing that it will spin off Time Inc. as a separate, publicly traded company. The separation is expected to be finished by the end of the year.

In the meantime, Time Inc. CEO Laura Lang has decided to step down following the transaction.  
Time Inc. Spinoff Has a Bumpy Road Ahead:  Time Warner has decided, in the wake of talks breaking down with Meredith Corp. over a proposed spinoff company that would house a combination of the two companies' magazine brands, to form a separate, publicly-traded company on its own. It's a plan-B move and it's going to be a rough road going forward. For one thing, the combined company between Meredith and Time Inc. would have kicked back almost $2 billion in a one-time dividend to Time Warner. Now that's not going to happen and shareholders are going to have to hope that the Time Inc. spinoff will perform as well or better than TW's other spinoffs, AOL, and Time Warner Cable. The spinoff transaction is expected to be done by the end of the year.  

http://www.adweek.com/news/advertising-branding/lessons-laura-langs-brief-tenure-atop-time-inc-147755

Lessons From Laura Lang's (Brief) Tenure Atop Time Inc.

Revenue declines, layoffs and low morale By Lucia Moses Time Inc. CEO Laura Lang was hired away from Digitas some 15 months ago.
The spinoff of Time Inc. means the end of the brutish and short tenure of CEO Laura Lang, whose 15-month run will likely be picked over in the days ahead.

When Lang was hired away from Digitas for the post a little over a year ago, her selection was aimed at bringing digital credibility to a publishing company with prestige titles (Time, Fortune) but steeped in the low-growth print business.

Channels Driving Holiday Purchases

Channels Driving Holiday Purchases: Not Online or Social Media: A 2013 Holiday Retail Marketing Survey finds that email, TV, and print ads were the strongest drivers of purchases, while online and social media proved least influential.
TV ads – 45%
Print ads (newspaper/magazine) – 42%

Fortune Writes Articles Exclusively for Advertisers

http://www.adweek.com/news/advertising-branding/fortune-writes-articles-exclusively-advertisers-147662

Advertisers looking to escape the dreaded advertorial trap and give consumers content they'll actually read has helped create the boom in native advertising or branded content. At the same time, publishers continue to seek ways to make their editorial work harder for them.

Fortune is rolling out a new response to this dilemma in the form of a program called Fortune TOC—Trusted Original Content. Similar to licensed editorial content, TOC involves creating original, Fortune-branded editorial content (articles, video, newsletters) exclusively for marketers to distribute on their own platforms. The publisher has set a price range from $250,000 to $1 million.

Everyone Knows Print Is Dead: NSFWCORP Launches Print Edition

http://pandodaily.com/2013/03/05/print-is-dead/

Tina Brown, the editor of Newsweek/DailyBeast says print is dead, and as proof she points to the closure of a magazine that she drove into the ground using a succession of bullshit linkbait-y barely-Business Insider-worthy covers which succeeded only in turning a troubled print brand into a doomed one.

Editors of dozens of local newspapers say print is dead because they are unable to find an audience hungry for their daily bowl of rehashed AP Newswire copy, unfunny comic strips, dumb-as-a-rock “humor” columnists, and some nonsense about an escaped dog.
Media experts say print is dead because, well, that’s the kind of forward thinking insight you have to offer to succeed in media punditry. Writing off an analog format is far more likely to get you a book deal, and far less likely to come back and bite you in the ass than “betting against the future” might.
The consensus that print is dead is clear. And the continuing print success of the Economist (where the same number of subscribers choose a print-only subscription as a digital-only one) is annoying and confusing. As is the continuing print success of the New Yorker and The Week.
They’re easily dismissed though: Those magazines are special. Or they’re institutions that have been around forever (apart from The Week). Or they’re for stuffy old people (apart from The Week).  Or, I dunno, the people who buy them are elves, or goblins — or some kind of creatures that eat paper. Perhaps they’re the same elves or goblins or creatures who buy a combined 6,005,090 print copies every day of the top-ten newspapers in the US.

Publishers Increasing Digital Subscription Prices

http://www.mediapost.com/publications/article/195159/publishers-raising-digital-sub-prices-paywalls-pa.html#axzz2MtFjGcGF

Publishers who use Press+, the metered access platform created by Journalism Online and now owned by RR Donnelley, are raising subscription prices and lowering the number of articles visitors can view for free before having to pay.

Far from seeing online readership drop after implementing paywalls (as once feared), publishers feel confident enough to push the model further for additional revenues.
Among the more than 400 publishers using the Press+ platform, the average price for a monthly subscription has increased from $6.66 in July 2011 to $9.26 today, for 39% growth in less than two years; 5% of that increase came in the last six months, a survey of Press+ customers conducted by the company.

Publishers' Next Issue Expands Offers

http://www.mediapost.com/publications/article/195167/next-issue-takes-magazine-apps-to-windows-8.html#axzz2MtFjGcGF

Next Issue, the digital magazine project of five major U.S. publishers, is taking its all-in-one app to Windows 8 devices. The newsstand app offers some 80 titles, including Fast Company, Men’s Fitness, New York Magazine, Food & Wine and ESPN The Magazine.

As with the versions for the iPad and Android tablets, unlimited access to monthly and bi-weekly magazines in the Next Issue app for Windows 8 costs $9.99 a month. A “premium” plan for access to all titles is $14.99.

J.C. Penney's Lay Offs Continue

http://www.cnbc.com/id/100532140

Department store J.C. Penney laid off about 2,200 employees in its stores and district offices on Wednesday, according to a report from The Dallas Morning News. 
These cuts follow another 19,000 employees that have been laid off in the past year since the company began its transformation with Chief Executive Ron Johnson at the helm.

TravelAge West Launches Explorer

http://www.btobonline.com/article/20130307/MEDIABUSINESS0902/303079992/travelage-west-to-debut-adventure-travel-publication

Travel industry magazine TravelAge West is set to launch Explorer, a publication for travel agents that will focus on adventure, soft adventure and experiential travel as well as eco-tourism.
The semiannual publication will provide readers with on-site reviews, packages, sales tools and related products for the experiential travel market. The first issue will be published April 29.

Washington Post Turns to Paid Content Option

http://www.mediapost.com/publications/article/195055/wapo-joins-paid-content-parade.html#axzz2MhGD86sw

Desperate to find new sources of advertising revenues, major publishers are turning to paid content and native advertising, in essence, allowing advertising clients to present marketing messages in formats resembling editorial content.

The latest publisher to join the trend is The Washington Post, which unveiled a new paid-content feature, “Brand Connect,” which includes placement on the “front page” of the newspaper’s Web site.
According to WaPo, marketing messages delivered via “Brand Connect” benefit from their adjacency to the Web site’s real editorial content.

Online Display Ads Down, Total Media Buys Expand

http://www.mediapost.com/publications/article/195087/real-data-shows-real-slowdown-in-online-display-m.html#axzz2MhGD86sw

In what is likely the most accurate accounting ever of the U.S. media-buying marketplace, a new, more realistic and somewhat surprising picture of ad spending is beginning to emerge. The data -- the first ever to be released publicly from a system that taps directly into the data processing systems of Madison Avenue’s major agency holding companies -- is shedding light on real market behavior, including a dramatic slowdown in the expansion of online’s premium display advertising marketplace, and a corresponding upsurge in so-called “secondary” display media-buying channels such as ad networks and exchanges.

WSJ Introduces WSJ.Money Magazine

http://www.btobonline.com/article/20130307/MEDIABUSINESS0902/303079993/wall-street-journal-to-introduce-wsj-money

The Wall Street Journal announced it will introduce WSJ.Money, its new personal wealth management magazine, on March 9. The quarterly magazine will appear in the U.S. edition of WSJ Weekend and cover personal finance and wealth management for the long term.

M&A Professionals Expect More Deals

M&A Professionals Expect To Perform More Deals In 2013, According To KPMG Survey: According to a survey conducted by KPMG LLP, the U.S. audit, tax and advisory firm, merger and acquisitions (M&A), private equity and tax professionals from the technology, financial services and healthcare sectors, among others, expect an increase in their companies' or clients' deal activity in 2013 compared to 2012. Of the more than 400 survey respondents, 60 percent said that they would do more deals this year than last year.

Catalyst Paper Reports 2012 & Q4 Results

http://www.catalystpaper.com/

Catalyst Paper results in the fourth quarter were negatively impacted by lower sales volumes, higher maintenance spending and a stronger Canadian dollar.

Catalyst posted a net loss of $35.2 million for the quarter, in contrast to net earnings of $655.7 million in the third quarter, when the one-time gains realized on emergence from creditor protection were booked. Before specific items, net losses were $15.7 million and $7.5 million in Q4 and Q3 respectively. Adjusted EBITDA was $7.2 million in Q4, with no impact from restructuring costs, and $13.8 million in Q3 ($14.0 million before restructuring costs).

Net earnings of $583.2 million for 2012 were heavily impacted by one-time non-cash restructuring credits and fair value accounting adjustments. This compared with a $974.0 million net loss in 2011 which was driven largely by asset impairment charges.

Catalyst entered creditor protection on January 31, 2012, and exited on September 13, having achieved a US$390.4 million or 60 per cent reduction in its debt, savings in annual interest expense of US$33.9 million, and a range of other cost reductions. The restructuring included the permanent closure of its Snowflake mill at the end of the third quarter. Results from this discontinued operation are excluded from those being reported, with comparative periods having been restated accordingly.

ME Senator Pushes Port Hawkesbury Trade Issue

In a letter last Friday, U.S. Senator Angus S. King, Jr. (I-Maine) pressed U.S. Trade Ambassador Ron Kirk for answers about the Canadian government's distribution of $124.5 million in what appear to be illegal trade subsidies to the Port Hawkesbury Paper Mill in Nova Scotia that are responsible in part for the elimination of 45 jobs at the NewPage Paper Mill in Rumford, Maine.

The trade subsidies, which Senator King believes are in violation of established World Trade Organization rules, enabled the Port Hawkesbury Paper Mill to flood the North American market with tons of highly subsidized supercalendered paper. On Wednesday, February 27th, the NewPage Paper
Mill announced the lay-off of 45 employees, citing a drop in demand for #5 Coated Paper, a product often substituted for supercalendered paper.

International Survey: Predictions for the Future of Print

International Survey of Industry Consultants Reveals Predictions for the Future of Print: duomedia, a leading agency specializing in public relations and marketing communications for the graphic arts, industrial, and technology markets, conducted a survey in the fourth quarter of 2012 to gain insight from key consultants in the graphic arts industry. The results of this international survey make it absolutely clear that print must adapt in order to continue to play a crucial role in the communications mix. Print professionals and influencers from 10 countries shared their expert opinions on how print will evolve in the digital age, in this study conducted by pan-European communications agency, duomedia.

Details on Quad/Graphics 2012 & Q4 Results

Quad/Graphics Posts Q4 Profit: SUSSEX, Wis. -- Fourth-Quarter and Full-Year Highlights:
Generated $1.1 billion in net sales during the fourth quarter and $4.1 billion in net sales for full-year 2012.
Achieved $174 million in fourth-quarter Adjusted EBITDA and $566 million in full-year Adjusted EBITDA.
Reported fourth quarter Adjusted EBITDA margin of 15.3% and full-year Adjusted EBITDA margin of 13.8%.
Generated $375 million in full-year Recurring Free Cash Flow, surpassing upwardly revised guidance of $340 million, partially benefitted by $15 million in lower capital expenditures that moved from 2012 into 2013.
Repaid $120 million in debt in 2012, maintaining the Company's yearend leverage of 2.39x within the targeted range of 2.0x to 2.5x.
Increased 2013 quarterly cash dividend by 20% to $0.30 per share.
On January 16, 2013, completed its acquisition of Vertis Holdings, Inc. ("Vertis") and began implementing integration plans to achieve efficiencies and cost-savings.

Shipping Recovery Seen by 2015

http://www.bloomberg.com/news/2013-03-05/shipping-recovery-seen-by-2015-by-bank-of-america-on-supply-ease.html

Hire costs for the global fleet of dry-bulk vessels will show a “meaningful increase” by 2015 as demand for seaborne commodities expands amid slowing fleet growth, Bank of America Merrill Lynch said.

“We see a major shift in the sector next year, as demand growth once again outpaces fleet capacity additions and the oversupply in the market starts to shrink. Yet, due to the magnitude of excess supply over demand, we believe a sustained recovery in bulk freight prices will take longer to materialize,” the Charlotte, North Carolina-based investment bank said in a note e-mailed today.

Condé Nast Introduces New Product

http://www.adweek.com/news/advertising-branding/cond-nasts-answer-programmatic-buying-147724

Condé Nast has introduced a new digital marketing product, one of its first since the company overhauled its corporate sales group last summer to tap into potential growth in online advertising. 

The new product, called Condé Nast Catalyst: Audience by Design, is an attempt to match the company's audiences with brand advertisers to reach consumer types like high-spending moms and highly social singles who aren’t expressly targeted by Condé Nast’s 27 sites.

Time CEO Withdraws from Events

http://www.adweek.com/news/press/laura-lang-pulls-out-multiple-industry-events-147722

Laura Lang has been having meetings with her top lieutenants at Time Inc., presenting a business-as-usual face against a backdrop of merger talks with Meredith Corp. But outside the Time Life building, she's fast fading from view.

Outdoor Advertising Up 3.4% in 2012

http://www.mediapost.com/publications/article/195054/outdoor-revs-hit-nearly-7-billion-in-2012.html#axzz2MhGD86sw

Out-of-home advertising revenue increased 4.2% from $6.43 billion in 2011 to $6.7 billion in 2012, according to the Outdoor Advertising Association. This result included a 3.4% increase in outdoor ad revenues in the fourth quarter, to $1.8 billion. 
Over the course of the three previous quarters, ad revenues were up 4.5%, 4.3%, and 4.4%, respectively. The fourth-quarter result represents the 11th straight quarter of year-over-year growth for the outdoor ad industry.

Apollo/McGraw-Hill Deal Moves Forward

http://www.heraldonline.com/2013/03/05/4666843/mcgraw-hill-comments-on-progress.html

The McGraw-Hill Companies (NYSE: MHP) commented on the launching of bank debt financing to support the previously disclosed purchase by investment funds affiliated with Apollo Global Management, LLC (NYSE: APO) of the McGraw-Hill education business.

"We are pleased with the progress that is being made to secure funding, that the sale of McGraw-Hill Education is now an all-cash deal, and that the transaction is expected to close before the end of this month."

USPS Adds Tools to Every Door Direct Mail

http://about.usps.com/news/national-releases/2013/pr13_025.htm

  An online mapping tool and credit card payment are two new enhancements to Every Door Direct Mail – Retail that are making it easier for small businesses to reach the customers who matter most — those in their own neighborhoods.

NewPage Union Opposes Legislation Ending Biofuel Tax Credits

The United Steelworkers Union (USW) says that proposed state legislation to end Maryland's biofuel credit could increase pollution and fuel costs, suppress development of renewable fuels and lead to massive job loss.
Maryland House Bill 1102 and Senate Bill 684, if passed, would redefine renewable energy to exclude "black liquor"-a byproduct of the pulping process in the manufacture of paper-as a biofuel.This would eliminate the payments that paper companies currently receive from Maryland utilities for selling renewable-energy credits to them. Maryland adopted a renewable energy law in 2005 that requires utilities to buy certain minimum percentages of their electricity from renewable sources. Washington, D.C. has a virtually identical law known as the renewable portfolio standard law.
Paper companies use the spent pulping liquor, which includes bark and unused wood chips leftover from the pulping process, as fuel so that the material does not go into landfills or water. This biomass fuel is carbon-neutral because the trees that are planted for every tree brought into a mill absorb more carbon dioxide than the mill emits when it uses this biofuel.
Unlike other industries, the paper sector relies more on renewable fuel to reduce its dependency on fossil fuels, and this helps the U.S. in its overall goal to reduce its carbon imprint and dependence on other nations for fuel.
"If the fuel credit is taken away, it will change the economics of fuel use at our mill," said USW Local 676 President Greg Harvey , who is a recovery boiler operator at the NewPage paper mill in Luke, Maryland.

Nippon Increases P&W Prices

Nippon Paper Industries Co., Ltd. (President: Yoshio Haga) has announced price revisions for printing paper in the domestic market to all its agencies.
Products subject to price revisions: Woodfree paper, coated woodfree paper, lightweight coated paper and ultra lightweight coated paper
Markup: Minimum 15 Yen/Kg
Timing of implementation: From April 21, 2013 shipment
Reason for implementation: Imported paper volume increased rapidly after the Great East Japan Earthquake, and the fall of the market price continued to drop. Based on rapid earnings deterioration, Nippon Paper Industries decided that the price had to be corrected to a sustainable level.

Another Mill Increases CWF Price in Europe

Papierfabrik Scheufelen, Lenningen/Germany, wishes to inform that due to rising cost for raw material, energy and transport, the company will be obliged to adjust its sales prices.

The price increase of 6-7 per cent will be implemented for all deliveries as from April 1st 2013 and will be applied for all woodfree coated qualities bvs and bro.

Three More Mills Increase Pulp Price

Domtar, which originally announced a $30/tonne price increase on northern bleached softwood kraft (NBSK) market pulp to North American customers that was effective on March 1, will delay its price hike until April.

Domtar told domestic customers its NBSK list price would still increase to $930/tonne, but its effective date is now April 1, industry contacts said.

West Fraser informed customers in North America that it will increase northern bleached softwood kraft (NBSK) pulp prices to $930/tonne, up $30/tonne effective April 1, RISI learned today.

International Paper (IP) announced to North American customers last week that its paper grade softwood and hardwood kraft market pulp prices would increase effective March 1, industry contacts said.

Memphis-headquartered IP told domestic customers that its list price on southern bleached softwood kraft (SBSK) would increase by $20/tonne, according to market participants.

Appleton Reports 2012 Results

http://www.appletonideas.com/Appleton/jsps/StoreCatalogDisplay.do?langId=-1

Appleton's 2012 net sales of $849.8 million decreased 0.9% compared to 2011 net sales of $857.3 million. Appleton's fourth quarter 2012 net sales of $205.5 million were flat when compared to fourth quarter 2011. Adjusting for the Company's decision to discontinue the sale of carbonless papers into certain non-strategic international markets, fourth quarter and full year 2012 net sales were up 7.9% and 3.1%, respectively. The Company's strong revenue growth from thermal papers almost entirely offset full year 2012 revenue declines in carbonless papers and Encapsys.

Court Affirms APP Award to JPMorgan Chase

http://www.courthousenews.com/2013/02/25/55156.html

An Asian paper company that defaulted on a JPMorgan Chase loan to buy machinery must disclose assets to pay off a $53 million judgment, the 7th Circuit ruled.
JPMorgan Chase won $53 million in damages against Asia Pulp & Paper Co. and its subsidiaries, Indah Kiat Pulp & Paper and Pabrik Kertas Tjiwi Kimia, in 2010.

What Bookstore Closings Mean for Niche Magazines

http://www.adweek.com/news/press/what-bookstore-closings-mean-niche-mags-147664

First Borders goes away, and now Barnes & Noble has said it would close one-third of its stores over the next decade, or about 20 locations per year. While it's not good news for print books, there’s another casualty: magazines, especially niche titles, given bookstores were the fourth-biggest retail category for single-copy sales in 2011.

The Redesign of Redbook

http://www.adweek.com/news/press/redbook-redesign-puts-focus-fashion-beauty-shopping-147704

Redbook, which has tried to break itself away from the women's magazine pack by aiming at young, married moms, has now decided that those women would like fewer parenting tips and a lot more style.

Readers will see the changes with a redesign starting with the April issue. On the design side, the cover has been drastically revamped, from the new, all-lowercase logo to the layout in which the cover star—this month's is The Hills star and current Kohls designer Lauren Conrad—now shares real estate with illustrated cover lines.

Women's Health Partners with Birchbox

http://adage.com/article/news/women-s-health-mag-partners-birchbox-april-edition/240138/
Rodale-owned Women's Health magazine is teaming up with Birchbox, one of the biggest subscription-commerce players, for a custom-box with a "wellness" theme next month
As reported a few months back, publishers have increasingly been dabbling with subscription commerce -- a model in which users pay an annual subscription and receive boxes filled with products and samples at regular intervals -- as a way to help expand their reach, and importantly, to help demonstrate a value-add to advertisers. Cooking Light for example, recently partnered with a player called CraveBox to white-label a discovery boxes that put magazine advertisers' products into the hands of subscribers.

More Speculation on Time Selling Titles

http://adage.com/article/global-news/time-global-titles-sale/240105/

What Will Happen to Time Inc. Global Titles After Sale? 
Time Inc. now owns U.K. and Mexican publishers that could go to Meredith in a sale. IPC Media and Grupo Expansion both have some pieces that would slot well into the Meredith portfolio, and others that wouldn't.
Time bought Grupo Expansion in 2005 for an estimated $60 million. The Mexican company's 17 titles include Meredith-like women's monthlies and a celebrity magazine, as well as business and construction titles.
IPC Media's 60 U.K. titles range from The Field for the land-owning gentry to lifestyle publication Wallpaper, and include a lot of women's titles. Time paid $1.7 billion for IPC in 2001, but it's estimated to be worth only about half that now, an incentive for Time to consider selling IPC for the tax write-down.
Then again, Meredith could sell the international titles to help pay for the deal. IPC posted profit of $69 million on revenue of $501 million in 2011, up from a $56 million profit on sales of $511 million the previous year. 
http://www.mercurynews.com/breaking-news/ci_22699685/sunset-magazine-facing-uncertain-future-amid-time-warner?IADID=Search-www.mercurynews.com-www.mercurynews.comSunset magazine facing uncertain future amid Time Warner breakup speculation 
Sunset, the 114-year-old magazine that survived the San Francisco earthquake, introduced California to the backyard wooden deck and continues to be a must-read for foodies, garden lovers and armchair travelers, faces an uncertain future amid rumors of the planned breakup of the country's biggest magazine empire.  
Sunset was sold to Time Warner in 1990 for $225 million and has continued to follow its popular formula of focusing on living in the West. But unconfirmed reports suggest that Sunset and its book-publishing arm could be part of a deal with Des Moines, Iowa-based Meredith Corp. that would allow Time Warner's magazine division, Time Inc., to retain magazines including Time, Fortune, Sports Illustrated and Money while shedding properties including People, InStyle and Real Simple.
That has loyal Sunset readers worrying about the future of their beloved magazine, which has not been mentioned in news stories.

Publishers Tighten the Paywall Meter

Publishers Tighten the Paywall Meter:
RR Donelley's metered paywall system Press+ has been keeping tabs on how its 400 customers are executing on their paid content strategies. According to a recent data report, the company says its customers are generally increasing subscription prices while lowering their meters. In other words, readers are paying more while free access for non-subscribers decreases.
According to Press+, the average monthly subscription price has gone up almost 40 percent since July 2011. Along with that trend, publishers are starting to tighten the meter, decreasing the number of stories non-subscribers are allowed to see before they're presented with an offer to pay up.

Foreign Affairs at Highest Print Circ

Foreign Affairs Doing Just Fine in Print, Thank You:  
Foreign Affairs, the bimonthly magazine on American foreign policy published by the Council on Foreign Relations, is now at its highest print circ since launching more than 90 years ago. Citing second-half 2012 Alliance for Audited Media numbers, its total readership, which includes subscribers, sold newsstand copies and a small portion of non-paid circ, is at 163,000—10 percent higher than the prior year.
The growth, says the Council, comes on the heels of a 30 percent increase in cover price, from $9.95 to $12.99. According to the International Periodical Distributors Association, the magazine's 31,584 single-copy sales grew 22 percent in 2012 following the price increase.

Condé Nast Invests in Farfetch

Condé Nast Invests in Fashion Commerce Site farfetch:
Condé Nast has been busy this first quarter making investments in fashion and design-related commerce sites. Boutique fashion curation site farfetch just secured a $20 million round led by the publisher's international division, which has also recently taken stakes in Monoqi (design) and RenéSim (jewelry)—both based in Germany.

Ilim Group Starts Up 220M mtpy UWF PM

Ilim Group starts up its 220,000 tonne/yr UWF PM 7 at Koryazhma in Russia: On the 3rd of March in Koryazhma, Arkhangelsk oblast, Ilim Group's new paper machine build as a part of Big Koryazhma investment project made paper for the first time.

During the coming weeks, Ilim Group's specialists, supported by experts from International Paper and representatives of equipment suppliers, will be working together to bring the machine up to full production, and help it meet all of the product quality parameters.

New high quality office and offset paper - will soon enter Russian market.

Big Koryazhma is a project is an investment of $270 million, involving construction of a new paper machine, installation of an off-machine coater, installation of cut-size and folio sheeters, construction of precipitated calcium carbonate (PCC) plant and implementation of infrastructure projects.

China's Pulp & RCP Imports Fall for Month, Up Y/Y

Pulp
China's total pulp imports dropped -2.2% in January compared to the previous month, down to nearly 1.364 million tonnes, according to data from China Customs.

Year over year, pulp imports were up +16.3%.

RCP

China's total recovered paper (RCP) imports fell -6.3% to around 2.518 million tonnes in January, down from some 2.687 million tonnes in December 2012, according to data from China Customs.

But January's figure was much higher than that of the same period last year. It saw a surge of +42.0% compared to the almost 1.774 million tonnes recorded in January 2012.

Another Pulp Increase Announcement

Mercer International informed customers in North America and China that it would increase northern bleached softwood kraft (NBSK) pulp prices $30/tonne, with effective dates spread over two months, industry contacts said today.

In North America, Mercer told customers it will increase NBSK prices $30/tonne to a $930/tonne list, effective April 1. That's the same move Canfor Pulp and Resolute Forest Products announced this week.