M-real shuts down its Äänekoski mill
Following the conclusion of the statutory negotiations, M-real has decided that the Äänekoski paper machine, with an annual capacity of approximately 200 000 tonnes of coated fine paper, will be closed by the end of 2011.
Tuesday, December 27, 2011
UPM Sells RFID Business
UPM sells its RFID business to Smartrac
UPM will become an indirect shareholder of Smartrac with a 10.6 percent economic interest through the company OEP Technologie B.V. The closing of the deal is expected to take place during the first quarter of 2012. The transaction is still subject to regulatory approvals.
Smartrac is registered in the Netherlands, and is one of the global market leaders in high-quality RFID inlays for electronic passports and contactless credit cards as well as for RFID transponders for public transport applications.
UPM will become an indirect shareholder of Smartrac with a 10.6 percent economic interest through the company OEP Technologie B.V. The closing of the deal is expected to take place during the first quarter of 2012. The transaction is still subject to regulatory approvals.
Smartrac is registered in the Netherlands, and is one of the global market leaders in high-quality RFID inlays for electronic passports and contactless credit cards as well as for RFID transponders for public transport applications.
NYSE Notifies Verso
Verso Addresses NYSE Listing Standard: Verso Paper Corp. (NYSE:VRS) announced today that the New York Stock Exchange has notified the company that it has fallen below the NYSE's continued listing standard relating to market capitalization. The NYSE requires that Verso's average market capitalization over a consecutive 30 trading-day period be at least $75 million. As of December 21, 2011, the date of the NYSE notice, Verso's 30 trading-day average market capitalization was approximately $66.6 million.
The Atlantic has a Good Year
The Atlantic Has Second Profitable Year in a Row:
According to the company, digital ad revenue will be up 40 percent for the year and print ad revenue will edge up 2 percent. The events group, AtlanticLIVE, which includes the Aspen Ideas Festival, will post a 19 percent revenue increase over last year.
For the fourth quarter, which signals the thirteenth consecutive one for year-over-year growth, revenue will be up 20 percent compared to same period last year.
In 2010, The Atlantic posted its first profit in decades, driven by strong double-digit gains across its three platforms, and will do so again this year. Last year, The New York Times reported The Atlantic made a profit of $1.8 million for 2010 and while a spokesperson would not confirm that number, she says they'll beat 2010's performance this year.
According to the company, digital ad revenue will be up 40 percent for the year and print ad revenue will edge up 2 percent. The events group, AtlanticLIVE, which includes the Aspen Ideas Festival, will post a 19 percent revenue increase over last year.
For the fourth quarter, which signals the thirteenth consecutive one for year-over-year growth, revenue will be up 20 percent compared to same period last year.
In 2010, The Atlantic posted its first profit in decades, driven by strong double-digit gains across its three platforms, and will do so again this year. Last year, The New York Times reported The Atlantic made a profit of $1.8 million for 2010 and while a spokesperson would not confirm that number, she says they'll beat 2010's performance this year.
Wednesday, December 21, 2011
Exigent Rate Held Case in Abeyance
The PRC has ordered the USPS to submit additional information regarding its filed exigent rate case (requesting an increase above CPI). Post Master General Patrick Donahoe, who had previously said he would not implement exigent postage increases, issued a statement that the USPS will not submit further information, effectively rendering the case in abeyance. Nothing will be done unless the USPS restarts the case.
Shoppers Spend $32 Billion Online
http://chainstoreage.com/article/comscore-reports-busiest-week-ever-online-sales
This holiday season has seen a 15% increase in online spending, as reported by comScore, in the first 48 days of the holiday season. In the week ending December 18, shoppers spent $6.4 billion, an increase of 14%; it was the busiest week ever recorded for online purchases.
Gorham Paper & Tissue Story of Persistence
The closed Gorham, NH paper was sold by Fraser Papers to an investment firm, Patriarch Partners, which, observing the high cost of production fueled by heating (No. 6) oil, installed a natural gas line. The Gorham Paper & Tissue mill was restarted 6 months ago, with the paper machines now powered by steam from the line. The company has now announced a commitment to purchase a tissue machine for $35 million that will be added to the facility.
International Paper and Steelworkers Sign Agreement
Following a year of negotiations, IP and the USW reached a 4-year master economic and security agreement, which was ratified by the union membership on Monday. The contract covers approximately 5,700 workers at 43 of International Paper’s corrugated boxes and container plants.
TIME’s Style & Design Returning
TIME to Relaunch Style & Design Supplement in March 2012: After shuttering the supplement 18 months ago, TIME is relaunching Style & Design in 2012. The revamped version, to be led by TIME managing editor Rick Stengel and edited/curated by TIME staff, will debut with the March 26th issue of TIME.
President of Great Northern Paper Resigns
Great Northern Paper announced that Peter Hanson has stepped down as the company’s president. Vice president of operations and manufacturing Everett O’Neill will replace Mr. Hanson. Last week Mr. Hanson made an ill-received remark that a proposed 70,000-acre national park in the area did not threaten the industry. A company spokesperson said there was no connection between Mr. Hanson’s leave-taking and his statement, but that there were "philosophical differences.”
Resolute Forest Products Reports Down Time
Resolute has announced it is shutting down PM 1 at its Catawba, South Carolina mill for two weeks because of market conditions. The paper machine, which has capacity to produce ~155,000 short tons per year of coated mechanical (LWC) paper, is the oldest unit at the facility.
November Coated & SC Paper Shipments Down
http://www.paperage.com/2011news/12_20_2011printing_writing_afpa.html
As reported by the Pulp and Paper Products Council, North American coated mechanical paper shipments for November fell -6.3% as compared to the same month of last year. Demand was down -8.3% and imports declined -17.7%.
Court Filing in eBook Price Fixing Case
Publishing Insider Tipped Law Firms About eBook Price Fixing Conspiracy: The decision by major publishers to strike a pricing deal with Apple has been the source of speculation and several antitrust investigations. Now, a new court filing suggests someone inside the industry was leaking the publishers’ pricing.
Midland’s Quad/Graphics to Add 25 Jobs
Midland’s Quad/Graphics to Add 25 Jobs: Quad/Graphics Inc. plans to invest nearly $1.77 million in its Midland (MI) facility and hire 25 new employees within two years. The new investment will be in incremental presses, finishing equipment, automation and building renovations.
Tuesday, December 20, 2011
Quad/Graphics’ Tempt In-Store Productions Expands
http://www.businesswire.com/news/home/20111219006502/en/Tempt-Grand-Opening-Unveils-In-Store-Marketing-Powerhouse
Tempt In-Store Productions, a Quad/Graphics company that produces in-store marketing materials (signage and marketing displays) and programs, is opening a new facility in New Berlin, Wisconsin. The facility triples the space of the previous location and the company has also purchased new presses and related equipment. The multi-million dollar investment includes a large format digital UV press, the fastest of its kind in the world; a large format offset press, finishing equipment and fulfillment operations.
Resolute Forest Products Extends Fort Frances Shutdown
http://fftimes.com/node/247989
Late last month, Resolute Forest Products announced it would close its two uncoated mechanical paper machines at its Fort Frances mill in Ontario for the rest of the year. Yesterday, the company extended the shutdown to the end of January or “when market conditions improve.” In addition to closing the ~244,000 short tons per year paper machines, the company reported that it is also now closing its kraft mill at the facility as well.
Scholastic to Publish Book Series
Scholastic to Publish Book Series with Companion Online Game: NEW YORK—Dec. 20, 2011—Scholastic, the global children’s publishing, education and media company, is launching of “Infinity Ring,” a time travel book series for readers ages eight to 12. This new endeavor combines books, an interactive “Hystorian’s Guide” map feature and an immersive online game experience in which readers travel back in time to fix history.
Third Quarter Ad Spending 0.4%
U.S. ad spending growth slowing down: Ad spending in the U.S. increased 1.5% in the first nine months of the year compared with the year-earlier period, according to data released by Kantar Media. Growth in spending is slowing, the company said. “From +4.1% in the first quarter, to +2.8% in the second quarter and now a barely palpable +0.4% for the July to September period.”
Barclays on 2012 Ad Spending
Ad agency growth to decelerate: New York—Ad agency growth will slow to about 2.9% in 2012, according to a forecast from investment bank Barclays Capital. This is down sharply from a projection of 5.6% growth this year, according to the investment bank.
USPS Gets 8 More Months to Pay
NALC: Congress postpones USPS pre-funding payment for 8-months: Over the weekend, Congress approved an omnibus spending bill to keep the government operating through September that included a provision to again move the deadline for the Postal Service’s 2011 future retiree health benefits prfunding payment for another eight months, to August. The spending measure also included language to keep the Postal Service delivering mail six days a week, rather than slashing service when the Postal Service needs to grow.
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