Catalyst Paper posts net loss of $11.7 million in second quarter, 2012:
Catalyst Paper is reporting a net loss of $11.7 million in the second quarter of 2012, in comparison to a net loss of $25.6 million the quarter before.
Thursday, August 2, 2012
H2 Acquires Norske Skog Parenco
H2 acquires Norske Skog Parenco and recovered paper business: Norske Skog has entered into an agreement to sell its paper mill Parenco in Renkum in the Netherlands and the global recovered paper business, Reparco, to investment firm H2 Equity Partners. Norske Skog expects to release cash from the transaction in the order of EUR 30 millions.
Stora Enso's PM Rebuild Ups Production 10%
Rebuild of PM 1 increases production by 10% at Stora Enso's Sachsen newsprint mill in Germany: After Voith carried out a rebuild of the Eilenburg PM 1 at Stora Enso Sachsen, Germany, the paper machine was successfully started up again in May 2012. The aims of Stora Enso were to improve runability and to eliminate existing bottlenecks in the system. Furthermore, the maximum operating speed of the paper machine was increased to 2,000 m/min, corre-sponding to a production increase of about 10% (depending on the grade range).
Oji Reacts to Protests
The
government of the city of Nantong in China has announced that it would stop
construction of a local wastewater pipeline following fierce environmental
protests on July 28. The move has raised concerns about whether Oji Paper's
700,000 tonne/yr pulp line at its nearby mill will come online on schedule in
early 2013.
RR Donnelley Reports Q2 Results
RR Donnelley Posts Earnings Increase, Net Sales Decline: R.R. Donnelley & Sons reported second-quarter 2012 net earnings attributable to common shareholders of $88.8 million on net sales of $2.5 billion (down 3.6 percent), compared to net earnings of $12.2 million.
Global Spending Forecast; Up 7.4% in 2012
Global ad spending will reach an estimated
$542.3 billion this year, up 7.4% over last year, according to a forecast from
eMarketer Inc.
The U.S. leads in global ad spending, with an
expected increase of 6.7% this year, to $169.5 billion.
ABC Delays New Publisher's Statement
A new, more detailed publisher’s statement is
coming from the Audit Bureau of Circulations, including expanded reporting of
digital metrics, but it will debut a little later than originally promised,
allowing the ABC board to gather more input from publishers, advertisers and ad
agencies, per the organization.
The board also agreed to defer requiring larger magazines to report issue-by-issue data via ABC’s Rapid Report tool until the new digital reporting requirements are approved.
The board also agreed to defer requiring larger magazines to report issue-by-issue data via ABC’s Rapid Report tool until the new digital reporting requirements are approved.
CR Roll Call Consolidates Brands
The Economist
Group’s CQ Roll Call business, which produces a variety of publications
that includes CQ Weekly, CQ Today and Roll Call, is undergoing a series of
changes, most notably with the consolidation of its brand into one daily print
publication and laying off up to 30 employees.
Condé Nast Makes Brides Bimonthly
Condé Nast Taking Brides Bimonthly, Boosts Mobile Interaction:
Brides is ratcheting back its print brand and investing more in its digital presence with a mobile-enhanced website. The 300,000-circ magazine is dropping down to a bimonthly frequency and the site will become fully mobile compatible and feature new tools and functionality to drive more engagement.
The magazine's last monthly issue will be December, with a January-March issue after that and then the bimonthly schedule will kick in with the April/May issue.
Brides is ratcheting back its print brand and investing more in its digital presence with a mobile-enhanced website. The 300,000-circ magazine is dropping down to a bimonthly frequency and the site will become fully mobile compatible and feature new tools and functionality to drive more engagement.
The magazine's last monthly issue will be December, with a January-March issue after that and then the bimonthly schedule will kick in with the April/May issue.
Afar Media Makes Executive Changes
Afar Media Makes Executive Changes:
Three-year old Afar is taking advantage of some forward momentum on print and digital business by shifting co-founder Joe Diaz into more of a business development role as chief product officer—he was previously vice president of sales and brand development. Meanwhile, the sales team is getting three new executives as well as promoting from within.
Three-year old Afar is taking advantage of some forward momentum on print and digital business by shifting co-founder Joe Diaz into more of a business development role as chief product officer—he was previously vice president of sales and brand development. Meanwhile, the sales team is getting three new executives as well as promoting from within.
D&B May Be For Sale
Report: Dun & Bradstreet puts itself on the block: Short Hills, N.J.—Business and marketing information company Dun & Bradstreet has reportedly put itself on the market and hired investment banks to help with the sale.
USPS Defaults on $5.5 Billion Payment to Treasury
The United States Postal Service defaulted today on a $5.5 billion payment to the United States Treasury, which was intended to cover the healthcare benefits of the organization's future retirees.
On July 30, the USPS issued a statement warning of the August 1 default, as well as a subsequent $5.6 billion payment that will not be made due. According to the statement, the USPS says there should not be any disruption of service.
Wednesday, August 1, 2012
Resolute Forest Products Reports Q2 Results
Resolute Forest Products reports net loss of $20 million in second quarter, 2012:
Resolute Forest Products has reported a net loss of $20 million in its second quarter of 2012 on sales of $1.2 billion. This can be compared to a net income of $61 million on sales of $1.2 billion in the second quarter of 2011.
Resolute Forest Products has reported a net loss of $20 million in its second quarter of 2012 on sales of $1.2 billion. This can be compared to a net income of $61 million on sales of $1.2 billion in the second quarter of 2011.
Second Derailment Raises Concerns for Verso
After the second derailment in about as many months of a train going to or from the Verso mill, the papermaking plant is concerned.
The train that derailed early Sunday afternoon was carrying paper from Verso Paper Corp. when it went off the tracks at the intersection of Route 15, said Bill Cohen, a Verso spokesman.
Cohen said he couldn’t confirm how much paper was on the train, but said Verso was working with Pan Am Railways — which owns the tracks and operates the train — to assess how much product was damaged in the derailment.
Resolute Acquisition of Fibrek Moves Forward
Resolute Forest Products and Fibrek complete their second step arrangement:
/Resolute Forest Products Inc. and Fibrek Inc. have completed their previously announced second step plan of arrangement transaction, whereby Fibrek and RFP Acquisition Inc., a wholly-owned subsidiary of Resolute, have amalgamated resulting in Resolute indirectly owning 100% of the shares of Fibrek Inc.
This announcement comes following the approval of the arrangement by Fibrek’s shareholders on July 23, 2012 and the issuance of a final order of the Superior Court of Quebec on July 27, 2012 approving the arrangement.
/Resolute Forest Products Inc. and Fibrek Inc. have completed their previously announced second step plan of arrangement transaction, whereby Fibrek and RFP Acquisition Inc., a wholly-owned subsidiary of Resolute, have amalgamated resulting in Resolute indirectly owning 100% of the shares of Fibrek Inc.
This announcement comes following the approval of the arrangement by Fibrek’s shareholders on July 23, 2012 and the issuance of a final order of the Superior Court of Quebec on July 27, 2012 approving the arrangement.
Judge Approves Sale of SP Newsprint Assets
Judge Christopher Sontchi of the U.S. Bankruptcy Court for
the District of Delaware in Wilmington on July 27 signed an order approving the
bidding procedures of the newsprint producer.
According to court papers filed July 19, an affiliate of
secured lender GE Capital Corp. will be stalking-horse bidder for the assets in
a deal valued at $145 million. SPN AcquisitionCo LLC would credit-bid the
entire amount of GE Capital’s outstanding revolving loans and a portion of an
outstanding term loan for substantially all of the Greenwich, Conn., newsprint
producer’s assets.
Consumers Prefer Print Statements & Bills
Print Statements and Bills Still Favored by Many U.S. Consumers: A survey of more than 5,000 US households found that 71% of consumers open print financial statements and bills mailed to them, and 65% said they actually preferred to get a print copy of their bill or statement.
USPS Issues Sustainability Report
The Sustainability and Energy Scorecard of the USPS shows that it is on track to meet all of its goals, except reducing vehicle petroleum fuel use by 20 percent by 2015. The Scorecard is a reporting tool that federal government agencies use to publicly report on the progress of their sustainability goals. The USPS has experienced a 6.4 percent increase in fuel use, which earned it a “red” score, meaning it did not meet its goal to achieve a 10 percent reduction since 2005. All other goals earned a “green” score, which means they are on track to meet targets.
Tuesday, July 31, 2012
Catalyst Paper Closing Snowflake Mill
Catalyst Paper is permanently closing its Snowflake mill in Arizona:
Catalyst Paper has decided to permanently close its Snowflake recycle mill located in northeastern Arizona and its subsidiary the Apache Railway Company. The mill has two PMs with the capacity to produce ~400,000 stpy of newsprint and uncoated mechanical paper.
This follows extensive efforts to improve the operation’s financial performance in the face of intense supply input and market pressures. The operation is scheduled to shut production on September 30, 2012.
Catalyst Paper has decided to permanently close its Snowflake recycle mill located in northeastern Arizona and its subsidiary the Apache Railway Company. The mill has two PMs with the capacity to produce ~400,000 stpy of newsprint and uncoated mechanical paper.
This follows extensive efforts to improve the operation’s financial performance in the face of intense supply input and market pressures. The operation is scheduled to shut production on September 30, 2012.
RISI Names Richard Garneau "CEO of the Year"
Richard Garneau named 2012 North American CEO of the Year:
RISI today announced that Richard Garneau, President and Chief Executive Officer of Resolute Forest Products, has been selected as RISI’s 2012 North American CEO of the Year.
RISI today announced that Richard Garneau, President and Chief Executive Officer of Resolute Forest Products, has been selected as RISI’s 2012 North American CEO of the Year.
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