Fibrek/Resolute Forest Product Update

Fibrek wins appeal, Resolute extends its offer for Fibrek:

The Court of Québec has overturned on appeal the decision of the Bureau de décision et de révision (Québec) granting an order to cease trade the proposed private placement of 32,320,000 special warrants to purchase common shares of Fibrek Inc. to Mercer International Inc. further to an application filed by AbitibiBowater Inc.

Meanwhile, AbitibiBowater Inc., doing business as Resolute Forest Products, has announced that it has applied for leave to appeal the Court of Québec’s decision reversing the cease trade order on Fibrek Inc.’s private placement. Resolute has extended its offer date to March 19.

Catalyst Paper Reports Agreement

Catalyst Paper enters into Restructuring and Support Agreement:
Catalyst Paper Corporation has announced that the company has entered into an agreement with certain holders of its 11% senior secured notes due 2016 (Senior Secured Notes) and 7 3/8% senior notes due 2014 (Senior Notes) with respect to a plan of arrangement under the Companies’ Creditors Arrangement Act (CCAA).

Flint Group Lends Insight on Costs

Flint Group provides insight into expected raw material cost: “There is a misplaced view that raw material costs for the graphic art industry are coming down” says Jan Paul van der Velde, SVP Procurement of Flint Group. Jan Paul continues: “The reality is that, with the exception of Gum Rosin which dropped a bit in Q4 and Q1 but is now already on the way back up, hardly any materials dropped significantly in price.

Manroland Web Systems Buys UK Business

Manroland Web Systems acquires Manroland's UK web business: Possehl-owned Manroland Web Systems has acquired the Manroland GB web business out of administration.

Sappi NA Makes Leadership Changes

http://www.paperage.com/2012news/03_09_2012sappi_na_leadership.html

Sappi Fine Paper North America today announced several changes in responsibility amongst its leadership team. Jennifer Miller has been named Executive Vice President - Coated Business and Chief Sustainability Officer. Annette Luchene, Vice President and Chief Financial Officer, will assume responsibility for the company's Lean Six Sigma program. Deece Hannigan, formerly Vice President - Fiber Resources, has been named Vice President - Procurement and Fiber Resources.

NewPage Still Confident of Future

http://www.wausaudailyherald.com/article/20120308/CWS03/303080112/NewPage-officials-optimistic-about-future?odyssey=mod|newswell|text|FRONTPAGE|s

Officials from NewPage on Wednesday said while the company has faced some tough decisions in the past few years, they believe the company will be a major part of Stevens Point area for years to come.

Stora Enso Taking Downtime

Stora Enso will take downtime at its Oulu coated woodfree mill in Finland in early April. Production will stop the 580,000 tonne/yr PM 6 from April 3-9, and on the 505,000 tonne/yr PM 7 on April 6-11.

Cenveo's Cadmus Closing

http://www.mcall.com/business/mc-cenveo-plant-closing-easton-20120228,0,5059048.story

The historic Cadmus Communications printing plant, in Wilson, PA will close in two months, putting about 200 people out of work and highlighting the ongoing difficulties in the commercial printing market. Cadmus is owned by the Stamford, Conn. printing company Cenveo.


 

The New Republic Sold

The New Republic Sold to Facebook Co-Founder:
The New Republic has been sold again. Facebook co-founder Chris Hughes has taken a majority stake in the almost 100-year-old magazine, reports the New York Times' Media Decoder.

Websites & Subscription Fees

Media websites increasingly charging for content:

R.R. Donnelley & Sons Co.'s Press+ released statistics highlighting growth in the efforts of media websites to begin charging for content. The average monthly price for digital-only users is $6.50 per month. For print subscribers, the average monthly price for digital access is $2.

Time Hires Bain, Two Exec.s Leaving

http://adage.com/print/233200

Time Inc., which publishes magazines from People to Sports Illustrated, has hired consultant Bain & Co. to help it find ways to grow. Two top executives are also leaving Time Inc.: Steve Sachs, the exec VP in charge of consumer marketing, and Chief Marketing Officer Stephanie George.

Still Working on Sale of St. Mary's

http://www.saultthisweek.com/ArticleDisplay.aspx?e=3492769

A sales process to find a new buyer or sell off assets for bankrupt St. Marys Paper is still underway although the final closing date to finalize the process passed by on Friday, March 2.

Alex Morrison, court appointed receiver for Ernst and Young said from Toronto Monday: “All I can tell you is we are still involved with the sales process..."

Appleton CEO on Cut Backs

http://www.daytondailynews.com/business/ceo-no-veto-power-for-appleton-union-1339478.html

The United Steelworkers can't "veto" a paper-supply agreement between Appleton and Domtar, a pact that will allow Appleton to cut 330 jobs from its West Carrollton mill, Appleton executives told industry analysts in a conference call Tuesday.

Quad/Graphics to Close Plant

Quad/Graphics to Close Its Plant in Jonesboro, AR: Quad/Graphics Inc. announced it will cease production at its Jonesboro, AR, facility in the fourth quarter 2012 as it continues to consolidate work onto its most efficient and competitive manufacturing platforms. The plant encompasses approximately 600,000 square feet and currently employs approximately 600 people.

Senator Critical of PRC

Regulators Criticized Over Review of USPS Network Cutbacks: Tom Carper, the Senator for Delaware and a leading voice in Congress pushing for major postal reforms, said that it was “unclear” why the Postal Regulatory Commission was expecting to take until this summer to produce its advisory opinion on USPS downsizing plans. Carper said if the Commission cannot produce even preliminary findings by May, it could find itself sidelined as USPS looks to begin plant closures as soon as possible.

Verso Reports 2011 & Q4 Results

http://www.versopaper.com/

Verso reported net sales for 2011 were up 7.3% to $1.7 billion versus $1.6 billion for 2010. Approximately $83 million in "special item" costs, such as costs related to the shutting down of three paper machines, debt refinancing and goodwill impairments, were tacked on to a pre-item loss of about $54 million. New product development costs were about $5 million for the year. In all, Verso recorded a net loss of $137 million. 

H2 11 Decline for Global Pulp Price

global pulp price plummets 20%: Wood Resource Quarterly (WRQ) has said that global pulp price fell by around 20% in the second half of last year.

Magazines & Creative Use of Personalization

http://adage.com/print/233084

Trying to answer the digital era's increasing demands for personalization, magazines are pushing further into ads that address readers individually.

The March issue of Harper's Bazaar, for example, arrived at 300,000 subscribers' homes accompanied by a full-page flier greeting subscribers by name and urging them to visit specific Neiman Marcus stores within 50 miles.

January Commercial Printing Ships Fall

January US Commercial Printing Shipments Down -2.4% Compared to 2011 (Economics & Research Center):
The year started with a mild thud in January, with current dollar printing shipments at $6.4 billion, down -$160 million, or -2.4% compared to the prior year.

Top Magazine Industry Deals

The Top Magazine Industry Deals of 2011: While not a blockbuster year for magazine media M&A, 2011 did have its share of big deals, as well as some that clearly signaled where publishers were placing their bets on future revenues. Hearst’s purchase of the Hachette brands was the biggest strictly magazine deal of the year.