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    RSS-News News RSS-News from paper-world.com - Add to Google! Page:    <<   1  2  3  4  5  6  7  8  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27  28  29  30  31   >> 
     
     
    14.11.2014   Nippon Paper orders yet another Metso Pulp Expert automatic pulp laboratory    ( Company news )

    Company news Metso Pulp Expert plays a major role in achieving better and more uniform pulp contributing to improved paper quality and stable runnability.

    Nippon Paper has ordered a Metso Pulp Expert automatic pulp laboratory for its Yatsushiro integrated pulp and paper mill in Japan. This makes a total of three Pulp Experts purchased by Nippon Paper during 2014. The first, delivered to the Iwakuni mill in spring 2014, will be followed by a second start-up at Nippon Paper's Ishinomaki mill in December. Start-up for the Yatsushiro Pulp Expert, installed in the mill laboratory, is scheduled for January 2015. The automated pulp laboratory will be equipped with measurement modules for fiber/shives, brightness with spectrophotometer, tensile and tear. The mill expects to save considerable time and resources in routine pulp quality tests as well as facilitating further research and development in pulp processing.

    The Metso Pulp Expert automates many routine pulp quality measurements to significantly enhance testing frequency and accuracy enabling laboratory personnel to concentrate on more challenging process development tasks. Pulp Expert plays a major role in achieving better and more uniform pulp leading to improved paper quality and stable runnability. It can automatically take samples and, depending on measurement modules installed, reliably test consistency, drainage, strength properties, porosity, bulk, optical properties and fiber length from different locations in the process.
    (Metso Corporation)
     
    14.11.2014   Sonoco Completes Acquisition of Weidenhammer Packaging Group    ( Company news )

    Company news Sonoco (NYSE:SON), one of the largest diversified global packaging companies, announced that it has completed the acquisition of Weidenhammer Packaging Group (WPG), Europe's leading provider of composite cans along with composite drums and rigid plastic containers, for €286 million, or approximately $360 million, in cash.

    According to M. Jack Sanders (photo), Sonoco president and chief executive officer, "We are extremely excited to welcome Weidenhammer's leadership team and its 1,100 associates into the Sonoco family. The acquisition creates a global leader in rigid paper packaging and is expected to increase Sonoco's combined global consumer-related packaging and services business to approximately $2.8 billion in annual sales or approximately 53 percent of the Company's combined revenue of approximately $5.4 billion. In addition, the combination is expected to increase Sonoco's net sales in Europe to approximately 21 percent of total sales."

    Headquartered in Hockenheim, Germany, Weidenhammer has approximately 1,100 employees and operates 13 production facilities, including five in Germany, along with individual plants in Belgium, France, Greece, The Netherlands, United Kingdom, United States, Chile and Russia. In addition to producing composite cans, drums and luxury tubes, WPG produces unique rigid plastic containers using state-of-the-art thin-walled injection molding technology with modern in-mold labeling. Markets served by the company include processed foods, powdered beverages, tobacco, confectionery, personal care, pet food, pharmaceuticals and home and garden products. Further information is available on the Internet at www.weidenhammer.de/en/home.

    To finance the transaction, Sonoco entered into a Credit Agreement for a new $600 million bank credit facility earlier in October. Included in that facility is a new $350 million, five-year revolving credit facility, which replaces an existing credit facility under substantially the same terms. The $350 million revolving credit facility is being used to support an identically sized commercial paper program. Also included in the Credit Agreement is a new $250 million three-year term loan which was used to fund the acquisition.

    As previously reported, the acquisition of Weidenhammer is expected to have no material impact to Sonoco's fourth quarter 2014 base earnings and should be accretive to the Company's 2015 base earnings in the range of $.09 to $.14 per share, including adjustments for purchase accounting.
    (Sonoco Products Co)
     
    14.11.2014   Valmet's new innovative energy recovery system exceeded expectations at Sofidel SPA in Italy     ( Company news )

    Company news In order to increase energy efficiency of tissue production lines, Valmet has developed the Advantage ReTurne energy recovery system. This system does not only recover energy from the headbox jet power, but also returns it back to the process as electrical energy.

    The first installation of Valmet's new innovation was recently started up at Sofidel's mill Delicarta Valdottavo, Italy and has already proved to fully meet the expectations.

    Sofidel is the first Italian company and the first toilet paper and household tissue company in the world to have joined Climate Savers, the international program promoted by WWF, to voluntarily adopt plans to reduce emissions of greenhouse gases, using innovative strategies and technologies. It is therefore important to find new innovative solutions to reduce the environmental impact of their production.

    "The first installation of the Advantage ReTurne energy saving system has been a positive experience for us. Its energy saving capabilities turned out to be better than we hoped for and well in line with our target to further reduce our CO2 emissions before the end of 2020," Simone Capuano, Vice Chief Technical Officer, Sofidel.

    "We had high expectations of the results from the first installation of the Advantage ReTurne system which was substantially exceeded. The installation went smoothly and the machine was running at full speed within five days. But the most exiting was that the energy recovery proved to be above guaranteed level," Jan Erikson, VP Sales, Valmet

    Technical information
    The Advantage ReTurne energy recovery system is installed in the forming section. It is unique in that sense that it recovers 50% of the energy from the headbox drainage water and via a generator converts it to electrical power which supplies the sectional drives. The Advantage ReTurne do not affect the formation of the paper or the tissue making process, it is easy to handle and has low maintenance need. This new innovation is most efficient installed in new or existing tissue machines.
    (Valmet Corporation)
     
    13.11.2014   XPERA SPECIALTY SOLUTIONS, LLC ANNOUNCES AGREEMENT TO ACQUIRE ...    ( Company news )

    Company news ... OLD TOWN FUEL & FIBER

    Expera Specialty Solutions, LLC (“Expera”), a portfolio company of KPS Capital Partners, LP, announced that it has entered into a definitive agreement to acquire certain assets related to the Old Town Fuel & Fiber pulp mill (“Old Town” or the “Business”) from its senior secured lender. Expera expects to complete the transaction as part of a sale process under Section 363 of the United States Bankruptcy Code. Financial terms of the transaction were not disclosed.

    OldTown is a high-quality pulp mill with the capacity to produce more than 200,000 tons annually of Northern Bleached Kraft pulp. The Business was founded more than a century ago and is located in Old Town, ME. The Business closed this past August, which left the mill shut down indefinitely. Expera intends to invest significant additional capital and resources into OldTown to ensure the highest level of production quality and capacity.

    Russ Wanke, Chief Executive Officer of Expera, stated, “A combination of Expera and OldTown will significantly strengthen both businesses. In particular, the combination will increase Expera’s vertical integration into pulp and reduce Old Town’s go-forward commercial risk by becoming part of Expera, a financially strong enterprise, that serves stable and growing end markets and possesses a dedicated base of long-term customers rather than as a standalone enterprise.”

    Governor Paul R. LePage of Maine stated, “I am honored to welcome Expera to Maine. We appreciate their investment and determination to get this facility back up and running as quickly as possible. The OldTown facility combines a valuable asset with tremendously knowledgeable and hardworking Mainers who are eager to get back to work. My administration will continue working with Expera as they move forward. This is terrific news for the future of Maine’s forest products industry.”

    US Senator Susan Collins of Maine commented, “This is encouraging news for Maine’s forest products industry and for the workers in the OldTown area who lost their jobs earlier this year. While there is much work to be done before this sale is finalized and people are brought back to work, I applaud the efforts of Expera Specialty Solutions and all those involved in this effort.”

    US Senator Angus King of Maine additionally expressed, “This is great news for the OldTown area and the State of Maine. Expera will find a great workforce with deep experience at this mill who I’m sure will be happy to get back to work doing what they have done so well over the years.”

    Completion of the transactions is expected to occur during the fourth quarter of 2014, subject to customary closing conditions.

    Paul, Weiss, Rifkind, Wharton and Garrison LLP and Pierce Atwood LLP served as legal counsel to Expera and KPS.
    (Expera Specialty Solutions LLC)
     
    13.11.2014   Stora Enso: New DuoDry CC drying concept from Voith impresses in operation    ( Company news )

    Company news DuoDry CC, the innovative drying concept from v, is for the first time successfully in operation. The DuoDry CC is delivered and installed in the Narew PM 5 at Stora Enso in Ostroleka, Poland. The concept impresses with its reduced curl formation caused by the drying process and lowers energy demand by increased runability of the paper machine.

    CC stands for curl control and designates the latest technology for reducing curl in single-tier dryer sections, which have become especially popular on the market since the speeds of paper machines have increased. The advantage of single-tier design when compared to the two-tiered design is that the machine achieves improved runability. However, a disadvantage of the conventional single-tier design is that the paper tends to curl due to the one-sided drying.

    DuoDry CC solves this problem with a smart concept that is as effective as it is simple – a vertically inverted single-tier dryer group that serves as the last group. Normally the paper web is sprayed with water on one side to fight curl. The web is dried again afterward through additional energy input. With DuoDry CC, by contrast, the thermal energy already required for drying the paper web is utilized by being fed into the inverted dryer group from the other side. Thus no additional energy is required for reducing curl. Use of this technology reduces the operating costs of the paper machine. The components used, such as web stabilizers and dryer cylinders, are products that have long been proven, which ensures the reliability of the system in operation.

    Janne Myllykangas, PM area manager at Stora Enso, confirmed after the project was finalized: “The collaboration with Voith was very good. The trust formed during the negotiations has been confirmed in the execution. The decision in favor of the DuoDry CC drying system has also proved to be the right one. We are very satisfied with the performance of DuoDry CC in operation.”
    (Voith Paper GmbH & Co KG)
     
    13.11.2014   Orient Paper, Inc. Announces Preliminary Results for the Third Quarter 2014    ( Company news )

    Company news Orient Paper, Inc. (NYSE MKT: ONP) ("Orient Paper" or the "Company"), a leading manufacturer and distributor of diversified paper products in North China, announced its preliminary unaudited financial results for the third quarter ended September 30, 2014. The Company will file its Form 10-Q with the Securities and Exchange Commission and will announce its full unaudited financial results for the third quarter ended September 30, 2014 after market closes on November 13, 2014.

    Photo: Mr. Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper

    Key Highlights for Third Quarter 2014
    -Monthly utilization rate of PM6 remained stable throughout Q3 at approximately 76%
    -Thanks to contribution from the PM1 Light-Weight CMP, total CMP Revenue increased 20% YoY, but gross profit declined due to declining ASP and higher cost of sales
    -Digital photo paper production lines have been disassembled and relocation to the new workshop at Xushui Mill Annex started after September 30, 2014

    Mr. Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper, commented, "Our results this quarter reflect a mix of solid execution against a backdrop of challenging industry conditions. Revenue was up, we maintained high utilization of PM6, and made progress on relocating the digital photo paper lines. Light-weight CMP continues to make a solid revenue contribution, and we continue to prepare to enter the tissue paper market as we construct our lines at the Wei County Industrial Park."

    Mr. Liu continued, "Despite that solid execution, industry conditions remain challenging, causing our gross margin and net income to decline. Pricing is a bit soft, while our cost of raw material was up 17%. In addition, we will be impacted in the fourth quarter by the mandated production halt associated with the APEC conference in Beijing. Obviously industry conditions are out of our control, but we will continue to focus on executing on those elements of our business under our control."
    (ONP Orient Paper Inc.)
     
    13.11.2014   Prinect Media Manager provides solution for growth segment of media-neutral publishing services    ( Company news )

    Company news -Multi-channel publishing offers print shops business opportunities outside print media industry
    -Pilot user BVD Druck+Verlag AG in Liechtenstein focuses on automated brochure production

    The term multi-channel publishing services refers to the media-neutral processing of data and its distribution using various media channels, including print and online. These services are a growing market that opens up new business opportunities for print shops outside their conventional core markets. Last year, this led Heidelberger Druckmaschinen AG (Heidelberg) to acquire an interest in Neo7even, a German software house based in Siegen that was already active in this market, and to integrate this company's software into the Prinect print shop workflow. Heidelberg is now offering print shops this solution - a media publication system for publishing identical information in different media channels - under the name Prinect Media Manager. Media-neutral image, text, and video data is stored in a database and output for print and online media (websites, tablet shops, etc.) in an automated process. Any changes need to be made only once in the system. This ensures multi-channel publishing is efficient and cost-effective.

    "Anyone seeking long-term success in the highly competitive print media industry needs state-of-the-art technologies and an eye for new business opportunities. The Prinect Media Manager opens up exactly such opportunities for print shops. This solution underlines our commitment to making rapid moves into new, promising areas of business through partnerships and cooperation agreements," says Jason Oliver, who is in charge of digital business at Heidelberg.

    One of the first companies to use the Prinect Media Manager is BVD Druck+Verlag AG (BVD) in Liechtenstein. Founded in 1927, it specializes in high-quality advertising materials in short to medium runs. In recent years, BVD has focused increasingly on automated media publication to expand its future portfolio. It was initially unable to find a suitable solution on the market but recently installed the Prinect Media Manager from Heidelberg.

    A pilot project involving a BVD customer aims to produce a campaign brochure from a database using a largely automated process and to distribute this in various languages via print and online channels. The customer stores its data in the central database of the Prinect Media Manager. Both it and BVD can access this data, so that changes only need to be made once and are then automatically adopted in all layouts. Unlike in the past, BVD is now involved from the creation stage and can speed up brochure production significantly.

    "Here at BVD, we see promising business opportunities in multi-channel publishing solutions and in combining print and online services. The Prinect Media Manager now makes it both technically feasible and cost-effective for us to tap into this potential," says BVD Managing Director Peter Göppel.
    (Heidelberger Druckmaschinen AG)
     
    13.11.2014   PMP Group's next Intelli-Tissue® EcoEc 1200 put on stream    ( Company news )

    Company news It is our pleasure to announce that on October 22nd 2014 PMP Group – a global provider of paper technology – has successfully started up another Intelli-Tissue® 1200 EcoEc machine in China. This time the project was executed for Henan Hulijia Industrial CO., LTD.
    Hulijia Group within the last ten years has grown into one of the companies with the most competitive vitality and development potential in the tissue industry in the Henan Province, providing professional nursing products.
    The Intelli-Tissue® 1200 EcoEc machine for Henan Hulijia of double-press configuration, of design speed 1200 mpm and a reel trim of 2.85 m produces virgin fiber-based tissue (50 t/d). It is equipped with a modern single-layer hydraulic Intelli-Jet V® headbox, a 4-roll Crescent Intelli-Former®, double nip Intelli-Press®, 12ft ribbed, steel Yankee Dryer Intelli-YD™, exchaust Air Cap and an Intelli-Reel®. Except for premium quality of the final product, the TM is characterized by ultra-low media consumption figures (steam consumption is at a level of 1.7 T/T). Despite its compact size, the Intelli-Tissue® 1200 EcoEc machine can easily replace 10 locally made machines.
    PMP’s scope of supply covers i.a. approach flow system, entire tissue machine - including auxiliary systems like lubrication, steam & condensate, mechanical drive,electrical drive and tissue machine controls. The line was designed in Europe and manufactured both in China and Poland. PMP Group is implementing this way Optimum Cost Solution strategy and takes the advantage of the favorable location of its Center of Excellence – PMP IB (Changzhou) Machinery & Technology Co. Ltd.
    (PMPoland S.A.)
     
    13.11.2014   Drytac® Europe Appoints Douglas Jackson as Operations Director    ( Company news )

    Company news Drytac Europe, an international manufacturer of self-adhesive materials for the print, label and industrial markets, has announced the appointment of Douglas Jackson (photo) to the role of Operations Director with immediate effect.

    In his new role, Douglas will be responsible for the management and control of Drytac Europe’s day-to-day business operations including purchasing, planning and product development.

    Douglas joins Drytac from USA-based ACCO brands where he held the positon of Director of Operations. Prior to this role, Douglas was the President of Neschen GBC Graphic Films - a joint venture with ACCO Brands - which manufactured the Seal, Neschen and GBC brands throughout the USA.

    Douglas returns to the UK where he previously ran Seal’s manufacturing facility in Basildon, prior to moving to the USA.

    On Douglas’s appointment, Hayden Kelley, Managing Director for Drytac Europe, comments: “We’re delighted that Douglas has joined our senior management team. He brings a wealth of experience in the graphic films sector to Drytac, alongside proven management capabilities.”

    Drytac will be exhibiting at the upcoming SGIA Expo on booth #753 and Douglas will be present at the event. As well as showcasing Drytac’s latest solutions for the graphics market, the company will be looking to recruit quality international business partners to further boost the company’s global sales.
    (Drytac Europe Limited)
     
    13.11.2014   UPM introduces a new profit improvement target of EUR 150 million    ( Company news )

    Company news UPM is introducing a new profit improvement target with an annualised impact of EUR 150 million by the end of 2015. The target includes savings in variable and fixed costs in all UPM businesses as well as planned capacity closures in the European paper business, which continues to suffer from overcapacity.

    “During the past 12 months we have been able to improve our financial performance through streamlining but also through better focus and significant decrease in variable costs. Our new business structure has shown that it is capable of delivering results and we have been able to identify further profit improvement potential in our businesses. This potential we aim to capture in 2015, ” says Jussi Pesonen (photo), President and CEO of UPM.

    “The European paper business is a case for itself. We have achieved a turnaround in profitability during 2014. Nevertheless, the current operating rates are unacceptably low and the current economic environment is not promising tailwind for 2015. We plan to adapt our production to meet the profitable customer demand. We also ensure savings without endangering customer deliveries in the structurally declining market”, says Pesonen.

    Planned permanent closures in UPM Paper ENA
    UPM is planning to permanently reduce its publication paper capacity in Europe by further 800,000 tonnes approximately. The capacity reductions are planned to take place in France, Finland and in the UK.

    UPM plans a permanent closure of:
    -newsprint machine 3 at UPM Chapelle in France
    -newsprint machine 1 at UPM Shotton in the UK
    -SC paper machine Jämsänkoski 5 at UPM Jämsä River Mills in Finland
    -coated mechanical paper machine 2 at UPM Kaukas in Finland.

    In addition, the company plans to centralise UPM Paper ENA supply chain planning and order fulfillment activities to Augsburg and Dörpen in Germany.
    If all the plans to close capacity would be implemented, UPM’s personnel at the mills would be reduced by approximately 550 persons by the end of 2015. The employee information and consultation processes will start during November in line with the local legislation.

    The UPM Chapelle newsprint production line 3 and UPM Shotton newsprint production line 1 have an annual newsprint capacity of 345,000 tonnes. The Jämsänkoski SC production line 5 and UPM Kaukas coated mechanical production line 2 have an annual capacity of 460,000 tonnes of magazine papers, of which 235,000 tonnes of SC paper and 225,000 tonnes of coated mechanical paper: All machines are planned to be permanently closed by the end of Q1 2015.

    All four mills will continue paper production on the remaining paper machines on the mill sites.

    “We regret the impact of planned closures on our employees who, even under considerable pressure, have been loyal and committed. However, we have to adapt our operations to the changing market environment – this is the only way for a sustainable future. With the planned actions we will ensure the efficient use of our remaining capacity in Europe,” says Bernd Eikens, Executive Vice President, UPM Paper ENA.

    The full profit improvement programme includes variable and fixed cost savings in all UPM businesses and functions. As part of the programme UPM will start a review of the production, maintenance and other site operating practices across all of UPM businesses and operating countries. Furthermore, UPM’s programme for variable cost savings will continue.
    The total annualised cost reduction impact of EUR 150 million is expected by the end of 2015, compared with the Q3 2014. The fixed cost reduction of the planned capacity closures is expected to be EUR 55 million. UPM will book write-offs of approximately EUR 100 million and restructuring charges of approximately EUR 80 million in Q4/2014.
    UPM will follow and update the progress against the profit improvement target in its quarterly reporting.
    (UPM)
     
    12.11.2014   Cartiere del Garda Presents 'Shades'    ( Company news )

    Company news What is shade? A word that, because of its elusive nature, is best explained when someone attempts to define it with an image.
    Cartiere del Garda, part of the Lecta Group, has launched “Shades”, the eighth volume of “A Better Project”, its yearly in-depth look at a thought-provoking topic. This year the book explores the theme of shades, with repetitions of evocative, powerful images. This volume features the same eighteen images, printed each time on a different paper: GardaMatt Art, GardaMatt Ultra, GardaPat13 KLASSICA, GardaPat13 KIARA, GardaPat13 BIANKA and Condat matt Périgord. The tones change constantly with each page, sometimes so subtly it is practically imperceptible to the naked eye.
    “Shades” is more than just a beautiful photography book: it has been designed to go beyond, the perfect instrument to use when striving for excellence in the field of graphic design and printing. Intended for a wide variety of color situations, printed from a single file with the same coated profile and the same density of color so that each sheet of paper can reveal its full potential. No other adjustments were made at the printing stage, thus allowing designers a neutral starting point from which to choose the best solution according to their needs and for future adaptations.
    Selected content from “Shades” is available on the “A Better Project” website, where a summary of the book can be viewed and those interested can request a copy. http://abetterproject.it/shades/
    With this publishing project, Cartiere del Garda demonstrates once again how the singularity of a high-quality paper coupled with relevant content can transmit emotions through a unique sensory and intellectual experience.
    (Cartiere del Garda S.p.A.)
     
    12.11.2014   Vacon's liquid-cooled enclosed AC drives bring cost, size and installation benefits in demanding ...    ( Company news )

    Company news ... industries

    The global AC drives manufacturer Vacon will introduce high-power VACON® NXP Liquid Cooled Enclosed Drives at the Offshore Korea fair in Busan, Korea on 12-14 November 2014. This is Vacon's most space-saving enclosed drive, consisting of a range of products developed especially with system integrators in mind. The pre-designed and engineered VACON NXP Liquid Cooled Enclosed Drive is robust and ideal for demanding environments and applications where space is at a premium.
    Several technical advances and features in the liquid-cooled enclosed drives make them an attractive choice for customers. They do not require any large air-conditioning system, which in turn minimizes the investment cost, brings space and energy savings, and makes it virtually silent. Also all main components such as the filters are liquid cooled as standard.
    Vacon has been delivering these drives to several of its system integrator partners. Now this product series will be an official member of Vacon's well-proven portfolio of liquid-cooled AC drives, thus simplifying the order and delivery process to customers and increasing the company's capability to serve a wide range of industries and applications.
    "We now upgrade our successful design to a new level by making it an official product among the VACON NXP Liquid Cooled drives product family. There is a great potential for this product on the market, for example in the marine and offshore segment, where reliability and compact sizes play a key role. Also other industries such as oil, gas and mining greatly benefit from the advantages this product has to offer," says Jari Marjo, Marketing Director of Premium Drives at Vacon.
    The standard VACON NXP Liquid Cooled Enclosed Drives can be used with AC motors of power sizes from 800-1550 kW. However, by using Vacon's patented DriveSync control concept, four of them can be run in parallel, offering an outstanding power range up to 5.3 MW.
    (Vacon Plc)
     
    12.11.2014   Papyrus Australia: Banana fibre business project    ( Company news )

    Company news Papyrus Australia Ltd (ASX: PPY) (“PPY”/“Company”) is pleased to advise it has now
    entered into a binding Joint Venture Agreement (“JV Agreement”) for a banana fibre business project to manufacture banana fibre fruit and vegetable trays (as an alternative for plastic trays presently used by the industry) following extensive evaluation and analysis and the contractual “off-take” commitment of an established distributor of such products in Australia.
    The Company wishes to thank MAP Capital Advisors Pty Ltd (“MAP Capital”) for their support and comprehensive analysis of the business opportunity, and the introduction to the established industry distributor.
    The business project is for the manufacture of products to assist fruit and vegetable growers and sellers to package and display their products utilising natural materials made from waste banana fibre. The operation will be based in Australia at the factory site at Walkamin in banana growing area of the Atherton Tablelands in Far North Queensland.
    The parties to the JV Agreement are the Company with 85% shareholding and the established distributor 15% in consideration of market introductions and the “off-take” commitment. The Company’s Managing Director together with the established distributor participated in a very successful product manufacture trial in China earlier this year to identify specialised machinery and equipment for the manufacturing processes. The established distributor and his customers are very excited about the banana fibre products.
    The JV will be incorporated and will manufacture the products under an exclusive licence within Australia granted by PPY. The licence will be for a period of 5 years with a right of renewal for a further 5 years subject to the joint venture meeting agreed performance targets.
    PPY’s capital investment will be requisite cash, its existing equipment, intellectual property and know-how. PPY will also supply (at the cost of the joint venture) engineering and management support. PPY will provide establishment services and on-going management support for the operation of the JV.

    Managing Director’s loan to Company
    The Company’s Managing Director Ramy Azer and his wife Phoebe Azer have facilitated a second cash loan to the Company to enable it, among other purposes, to advance the proposed banana fibre business project outlined above.
    Talisker Pty Ltd (which is wholly owned by Ramy Azer and his wife Phoebe Azer) and the Company have agreed that Talisker shall lend the Company up to an amount of $250,000 (‘the loan”) which may be drawn down by the Company from time to time as required from 3 December 2014.
    The relevant terms on which the loan will be advanced by Talisker to the Company are at a commercial rate of interest, the loan is unsecured and will only be repayable from future revenues or from the proceeds of any future equity raisings, provided that if repayment of the loan at any particular time would materially prejudice the ability of the Company to repay its creditors as a whole then any proposed repayment of the loan shall be deferred until such time as such repayment would not materially prejudice the ability of the Company to repay its creditors as a whole.
    The Company is again indebted to the Managing Director and his wife Phoebe Azer for facilitating such financial accommodation as required.

    Egypt
    The Company has earlier this year successfully transported containers of machinery from Walkamin to the Papyrus Egypt, Sohag factory in Egypt, to enable the Papyrus Egypt banana fibre project to commence once all requisite capital funding is secured for the project, which includes capital for further payments to the Company for the sale of banana veneering and other machinery.
    Our Egyptian partner has completed the construction and fit-out of the factory in Sohag which is ready for production of banana veneer for
    sale to the building products and furniture industries, and the production of banana fibre for panel production.
    The Managing Director is in Egypt where he will hold ongoing discussions with the Papyrus Egypt partners and their banker, the National Bank of Egypt, with a view to finalising financial accommodation from the bank to enable Papyrus Egypt to pay a further instalment to the Company for the purchase of the banana veneering and other machinery, all of which is essential to enable Papyrus Egypt to commence manufacturing production of veneer, and fibre for panel production through an “off-take” arrangement as previously announced.
    (Papyrus Australia Ltd)
     
    12.11.2014   Change at the top at GOEBEL: Andreas Hollmann is the new CEO    ( Company news )

    Company news Having taken office on 4th November 2014, Dipl.-Ing Andreas Hollmann (photo) is the new CEO of GOEBEL Schneid- und Wickelsysteme GmbH. The traditional Darmstadt-based company, which belongs to the Italian IMS Deltamatic Group, is delighted to have found such a passionate mechanical engineer with management experience for this position.
    The 47-year-old engineer has worked in the packaging sector since 2003 and has held management positions there for many years. Until October 2014, he was CEO of Ishida GmbH, the global market leader in multihead weighing machines, which is also very successful in producing inspection systems for quality assurance, such as checkweighers and x-ray inspection systems. Before this, Hollmann was responsible for the worldwide expansion of Hastamat Verpackungstechnik GmbH in Lahnau, Germany.
    “As a passionate mechanical engineer, I am thrilled to be taking over the leadership of such a traditional company in the sector. GOEBEL stands out thanks to its development and construction of high-quality machines with state-of-the-art technology, meeting all the expectations that the “Made in Germany” label brings with it around the world. I am delighted to now be integrated into IMS Deltamatic Group and to be part of this successful company,” said the new CEO.

    As CEO, Andreas Hollmann succeeds former interim CEO Roberta Ghilardi, who will remain responsible for the further integration of GOEBEL into the group and the optimization of processes within the company.
    (Goebel Schneid- und Wickelsysteme GmbH)
     
    12.11.2014   SinoCorrugated 2015 - Big Ever Business Platform to Meet Global Demands    ( Company news )

    Company news SinoCorrugated 2015 which takes place at Shanghai New International Expo Center Shanghai, China, will again serve as an excellent platform for ambitious exhibitors to meet over 36,000 powerful buyers from the 14-17 April 2015. Over 8000 international visitors from 100+ different countries will attend SinoCorrugated2015 to source the latest innovations from within the corrugated manufacturing industry in order to stay one step ahead of the fast growing demands from their countries.

    Perfect Business Platform to Meet Global Demands
    •More Buyers — No other corrugated manufacturing event boasts 3,6000 buyers from over 100 different countries around the globe.
    •The Right Kind of Buyers — Not only are the visitors diverse in their regional backgrounds, they are coming from emerging markets with high demand of innovated technologies, products. At least 90% of attendees play a clear role in company’s buying process
    •Marketing Power — Biggest ever efforts designed to drive quality attendees to the show, and traffic to your booth:
    -2.3 million+ emails connect
    -Over 500,000 direct-mail impressions
    -100+supporting associations
    -50+deleations sending by international associations
    -10+ call centers located in different countries
    -Hundreds interactive ads in 100+ international media partner outlets
    (Reed Exhibitions Greater China)
     
    12.11.2014   Functional barriers in food packaging using recycled materials to be developed in new ...    ( Company news )

    Company news ... EU project, Banus

    The new EU project Banus will involve developing functional barriers for a variety of packaging examples that guarantees food safety, even when using recycled plastic and paper from recycling processes that are not currently approved for food packaging.
    The idea is that this example packaging should enable manufacturers to replace new materials with recycled materials, with the aim of developing and manufacturing more environmentally friendly food packaging.

    “Only metals, glass and PET are currently approved for use as functional barriers,” explains Mikael Gällstedt, who will be taking part in the project. “There’s a real need, but – other than these examples – commercial available, independently verified alternatives are non-existent, as far as we know, and this is what we’ll be investigating and working with in the Banus project.”

    A functional barrier prevents all types of chemicals that can be found in recycled paper, recycled plastics and printing inks, for example, from transferring to products such as packaged foods. These barriers can be used on paper and board made from recycled fibres containing chemical residues from sources including printing inks.
    The project consortium consists of five small and medium-sized partners, two organisations and two research institutes that will spend two years working on the project financed by the EU’s Seventh Framework Programme with a budget of EUR 1.1 million.
    (Innventia AB)
     
    12.11.2014   Essentra acquires Clondalkin Group's Specialist Packaging Division    ( Company news )

    Company news Clondalkin Group (“Clondalkin”) is pleased to announce that Essentra plc (“Essentra”) has entered into an agreement to acquire Clondalkin’s Specialist Packaging Division (“SPD”) for a cash consideration of approximately $455 million.

    With 24 strategically located facilities, Clondalkin SPD is a leading global provider of a broad suite of speciality secondary packaging solutions for the pharmaceutical and health & personal care industries, and will transform Essentra’s position in these end-markets. As a leading player in North America, and with strong market positions in Europe, Clondalkin SPD’s range of technologies and capabilities support the high product quality and the versatility to deliver the complex solutions required.

    David Lennon, Co-CEO of Clondalkin Group, stated, “We believe that Essentra will continue to build upon the legacy of excellent service and high quality built by the strong teams in place across our businesses in Europe and North America. We also believe the deep commitment Essentra has demonstrated to pharmaceutical and healthcare packaging through its extensive network of well invested plants makes it an ideal owner of this business.”

    Commenting on the transaction, Colin Day, Chief Executive of Essentra, said, “The acquisition of Clondalkin SPD is a compelling strategic and complementary fit for Essentra, which transforms our existing geographical capabilities to pharmaceutical and healthcare customers who are increasingly seeking a global partner for their packaging requirements. In addition, Clondalkin SPD substantially enhances Essentra’s position in the growing personal care and beauty packaging industry. With an experienced management team and proven track record, this acquisition – being the largest in the Company’s history – underscores Essentra’s commitment to building a leading global provider of essential components and solutions in our targeted market categories.”

    Completion of the above agreement is expected in the first quarter of 2015 and is subject to customary regulatory approval.

    Goldman, Sachs and Co. acted as financial adviser to Clondalkin. Freshfields Bruckhaus Deringer LLP acted as legal adviser to Clondalkin.
    (Clondalkin Group)
     
    11.11.2014   Brendan Lesch appointed to head global sales and marketing efforts    ( Company news )

    Company news Monadnock Paper Mills, Inc., a family-owned manufacturer that delivers high-performance specialty papers for the technical, packaging and printing markets, announced that Brendan Lesch (photo) has joined the company as Vice President of Sales and Marketing. In this role, he will continue to raise awareness of Mondnock’s product offerings and develop and nurture client-focused partnerships as the company continues to evolve to meet market needs.

    Mr. Lesch joins Monadnock from FutureMark Paper Company, where he was fully responsible for global sales and marketing efforts, with a specific focus on environmental initiatives. Prior to this, he served as Vice President of Sales and Marketing for Myllykoski North America, where he developed and implemented sales, marketing, customer service, and logistics strategies, and a lean and efficient operational infrastructure. Mr. Lesch holds an A.B. from Dartmouth College.

    "We are pleased to welcome Brendan to Monadnock’s executive management team,” said Richard Verney, Chairman and CEO of Monadnock. “He brings a stellar track record of developing, implementing and executing sales growth strategies and consistently improving the performance of the sales organizations that he has managed. He knows what it takes to bring an organization to the next level and will bring that experience to our worldwide sales and marketing teams."

    "I am honored to join a company that has been long recognized for its focus on sustainability and commitment to developing innovative products,” said Lesch. “I look forward to helping raise awareness of Monadnock’s diverse range of products, from technical and specialty papers to premium printing and packaging papers for leading brands worldwide."
    (MPM Monadnock Paper Mills Inc.)
     
    11.11.2014   RockTenn Reports Fourth Quarter Fiscal 2014 Earnings    ( Company news )

    Company news RockTenn (NYSE:RKT) reported earnings for the quarter ended September 30, 2014 of $1.06 per diluted share and adjusted earnings of $1.31 per diluted share.

    Chief Executive Officer's Statement
    RockTenn Chief Executive Officer, Steve Voorhees, stated, "Our team delivered another quarter of solid operating results as measured by our adjusted earnings per share of $1.31 and free cash flow per share of $1.80. For all of fiscal 2014, we generated $6.10 per share in free cash flow for the year, up 9% over last year and representing a yield in excess of 10% on our current stock price. We implemented our balanced capital allocation approach by investing $534 million in capital expenditures, $474 million in acquisitions and returning $337 million to our shareholders in dividends and share repurchases. Our strong balance sheet and cash flow provide us the flexibility to continue to invest to sustain and improve our operating performance."

    Fourth Quarter Results
    Net sales of $2,608 million for the fourth quarter of fiscal 2014 increased $123 million compared to the fourth quarter of fiscal 2013 primarily as a result of the Tacoma Mill and display acquisitions completed in fiscal 2014.
    Segment income of $340 million increased $8 million compared to the prior year quarter primarily due to the impact of an estimated $41 million in productivity improvements and income from the acquisitions partially offset by increased commodity and other costs across our business.

    Segment Results
    Mill and Converting Tons Shipped
    Corrugated Packaging segment shipments of approximately 2,075,000 tons increased 8.0% or approximately 153,000 tons compared to the prior year quarter primarily as a result of the Tacoma Mill acquisition. Consumer Packaging segment shipments of approximately 409,000 tons increased 1.4% or approximately 6,000 tons compared to the prior year quarter.

    Corrugated Packaging Segment
    Corrugated Packaging segment net sales increased $82 million to $1,826 million due to the Tacoma Mill acquisition. Segment income increased $11 million to $248 million in the fourth quarter of fiscal 2014 compared to the prior year quarter as higher volumes from the acquisition and productivity improvements were partially offset by the impact of increased export volumes on average selling prices and higher commodity and other costs. Segment income in the fourth quarter of fiscal 2014 included the recognition of a $23 million gain related to the recording of additional value of spare parts at our containerboard mills acquired in the Smurfit-Stone acquisition. The fourth quarter of fiscal 2013 included a similar $12 million spare parts gain and a $9 million gain related to the termination of a steam supply contract at our Solvay recycled containerboard mill, net of boiler start-up costs. Corrugated Packaging segment EBITDA margin was 20.8% for the fourth quarter of fiscal 2014, flat compared to the prior year quarter.

    Consumer Packaging Segment
    Consumer Packaging segment net sales increased $30 million to $525 million in the fourth quarter of fiscal 2014 compared to the prior year quarter primarily due to higher selling prices and volumes. Segment income increased $6 million to $72 million in the fourth quarter of fiscal 2014 primarily reflecting higher selling prices which were partially offset by the impact of higher commodity costs and other items. Segment income in the fourth quarter of fiscal 2013 included approximately $8 million related to a partial insurance settlement of property damage claims associated with the Demopolis turbine failure in fiscal 2012. Consumer Packaging segment EBITDA margin was 18.1% for the fourth quarter of fiscal 2014, up slightly compared to the prior year quarter.

    Merchandising Displays Segment
    Merchandising Displays segment net sales increased $45 million over the prior year fourth quarter to $229 million primarily due to higher volumes and the impact of two display acquisitions completed in fiscal 2014. Segment income decreased $8 million to $15 million in the fourth quarter of fiscal 2014 compared to the prior year quarter primarily as the impact of higher volumes were more than offset by higher costs, including costs associated with supporting and onboarding new business. Merchandising Displays segment EBITDA margin was 8.6% for the fourth quarter of fiscal 2014.

    Recycling Segment
    Recycling segment net sales decreased $25 million over the prior year fourth quarter to $88 million primarily due to lower volumes and recovered fiber prices as a result of soft global markets and collection facility closures. Segment income was relatively flat in the fourth quarter of fiscal 2014 compared to the prior year quarter primarily as the impact of lower volumes and market conditions were partially offset by the impact of cost structure improvements.

    Cash Provided From Operating, Financing and Investing Activities
    Cash from operations was $403 million in the fourth quarter of fiscal 2014 compared to cash from operations of $310 million in the prior year quarter. Net Debt (as defined) increased $6 million in the September quarter to $2.95 billion and at September 30, 2014, our Leverage Ratio (as defined) was 1.92 times. Total debt was $2.98 billion at September 30, 2014.
    During the quarter, we invested $157 million in capital expenditures, paid $74 million for the purchase of a business and returned $188 million in capital to our shareholders with $163 million in stock repurchases and $25 million in dividends.

    Pension Lump Sum Settlement Expense
    During the fourth quarter of fiscal 2014 RockTenn completed the first phase of our previously announced lump sum pension settlement to certain eligible former employees and as a result recorded a pre-tax expense of $48 million or $0.20 per diluted share after-tax. Distributions to eligible former employees were made out of existing plan assets during the quarter.

    Restructuring and Other Costs
    RockTenn's restructuring and other costs and operating losses and transition costs due to plant closures for the fourth quarter of fiscal 2014 were $0.05 per diluted share after-tax. These costs primarily consisted of $6 million of pre-tax integration and acquisition costs and $4 million of pre-tax facility closure charges. The facility closure charges were primarily associated with the decision to exit the Cincinnati, OH specialty recycled paperboard mill and a recycling collection facility, and on-going closure costs for previously closed facilities.
    (Rock-Tenn Co)
     
    11.11.2014   Orient Paper Announces Transition of Chief Financial Officer and Independent Director    ( Company news )

    Company news Orient Paper, Inc. (NYSE MKT: ONP) ("Orient Paper" or the "Company"), a leading manufacturer and distributor of diversified paper products in North China, announced that Mr. Winston Yen, has resigned from his position as the Company's Chief Financial Officer for personal reasons, effective November 1, 2014. Mr. Yen will continue serving the Company as a consultant to assist in the transition to a new Chief Financial Officer. The Board of Directors has appointed Ms. Jing Hao, the Chief Financial Officer of the Company's operating entity, Hebei Baoding Orient Paper Milling Company Limited, as the Company's Chief Financial Officer.

    Ms. Jing Hao previously served Orient Paper, Inc. as its Chief Financial Officer from November 2007 to April 2009. Ms. Hao has also served as Chief Financial Officer of the Company's operating entity Hebei Baoding Orient Paper Milling Company Limited since 2006, and as Manager of Finance from 2005 to 2006.

    Orient Paper also announced that Mr. Drew Bernstein, one of the Company's independent directors and the chair of its Audit Committee, has resigned from his positions with the Company for personal reasons, effective November 1, 2014. The Board of Directors has appointed Mr. Marco Ku as Mr. Bernstein's replacement as an independent director and Audit Committee Chairman.

    Mr. Marco Ku is the founder of Sensible Investment Company Limited, an investment consulting firm based in Hong Kong. Mr. Ku was previously Chief Financial Officer of China Marine Food Group Limited (OTC: CMFO) from July 2007 to October 2013. Prior to his tenure at CMFO, Mr. Ku was with KPMG from 1996 to 2000, where his last held position was Assistant Manager. From August 2000 to February 2003, he served as Manager of Corporate Services for Logistics Information Network Enterprise (HK) Limited, a subsidiary of Hutchison Port Holdings Ltd., where he later served as Manager of Management Accounting from March 2003 to September 2004. From October 2004 to September 2005, he worked as the Financial Controller for Hongkong.com Company Limited (a Hong Kong listed company within the China.com Group). From October 2005 to April 2007, he co-founded KISS Catering Group, a food and beverage business in Beijing. Mr. Ku received a bachelor's degree in Finance from the Hong Kong University of Science and Technology in 1996, and is currently a Fellow Member of the Hong Kong Institute of Certified Public Accountants.

    Mr. Zhenyong Liu, Chairman and Chief Executive Officer of Orient Paper commented, "I want to thank both Winston and Drew for their significant contributions during their tenure at Orient Paper. I also look forward to continue working with Winston as he helps us in our transition to a new CFO. We wish them both the best in their future endeavors. Meanwhile, we are pleased to welcome Jing Hao back as CFO. We also welcome Mr. Marco Ku to the Board of Directors and Audit Committee."
    (ONP Orient Paper Inc.)
     
    11.11.2014   GLATFELTER REPORTS RECORD ADJUSTED EPS OF $0.70 DRIVEN BY TOP-LINE GROWTH ...    ( Company news )

    Company news ... AND OPERATIONAL EFFICIENCIES IN SPECIALTY PAPERS AND ADVANCED AIRLAID MATERIALS BUSINESS UNITS

    Glatfelter (NYSE: GLT) reported third-quarter 2014 net income of $30.4 million, or $0.69 per diluted share, and adjusted earnings of $30.8 million, or $0.70 per diluted share. For the third quarter of 2013, net income was $34.1 million, or $0.77 per diluted share, and adjusted earnings were $24.4 million or $0.55 per diluted share.
    Consolidated net sales totaled $465.1 million in the third quarter of 2014, a 1.8 percent increase compared with $456.6 million in the third quarter of 2013.

    "Our third-quarter adjusted earnings were strong and an all-time quarterly record of $0.70 per share,” said Dante C. Parrini (photo), chairman and chief executive officer. “Specialty Papers delivered significantly improved results led by excellent operational performance and top-line growth. Advanced Airlaid Materials continues to perform very well, aided by strong demand and production efficiencies and Composite Fibers had a solid quarter when considering the market and economic pressures it is facing.”
    Mr. Parrini continued, “As we look at the fourth quarter, we expect to build on the momentum of operational excellence across all of our businesses. We believe Specialty Papers is well-positioned to deliver stable, reliable cash generation for the company. Demand for our Advanced Airlaid Materials products is consistently strong, driven by global growth in adult hygiene markets. Composite Fibers is operating well overall, but it continues to be impacted by economic uncertainty in Europe and the fluid economic and political situation in Russia and Ukraine. On balance, we are pleased with our progress throughout 2014 and our leading market positions, while remaining mindful of the near-term macro-level challenges.”

    Third-Quarter Business Unit Results
    Composite Fibers
    Net sales for this business unit declined $6.9 million, or 4.3 percent, primarily due to $4.9 million from lower selling prices. Foreign currency translation favorably impacted the year-over-year net sales comparison by $1.2 million.
    Composite Fibers’ third-quarter 2014 operating income decreased $0.8 million to $18.1 million compared to the year-ago period. The adverse impact from lower selling prices was substantially offset by improved operating performance including the impact of market related downtime taken to reduce inventories.

    Advanced Airlaid Materials
    On a year-over-year basis, Advanced Airlaid Materials’ net sales increased $4.9 million, or 7.0 percent, primarily due to a 5.9 percent increase in shipping volumes.
    Third-quarter 2014 operating income increased $3.6 million, nearly double the year-ago quarter. The third-quarter 2013 results were adversely impacted by $1.7 million of costs, net of insurance, related to fires at this business unit’s facilities. Excluding these costs from the quarter-over-quarter comparison, 2014 operating income increased $1.9 million primarily due to higher shipping volumes and lower raw material and energy costs.

    Specialty Papers
    On a year-over-year basis, Specialty Papers’ net sales increased $10.5 million, or 4.7 percent primarily due to an $8.3 million benefit from higher average selling prices together with higher shipping volumes. This business unit’s growth in shipping volumes again outperformed the broader uncoated free-sheet market which was down 8.0 percent in the third quarter of 2014 compared to the third quarter of 2013.
    Operating income increased $9.7 million, or 53.6 percent primarily due to higher selling prices together with significant improvements in operating performance, including record quarterly pulp production, partially offset by higher incentive compensation and normal cost inflation.

    Other Financial Information
    During the quarter, the Company recorded a $3.3 million non-cash asset impairment charge related to a trade name intangible asset acquired in connection with the 2013 Dresden acquisition. The charge was due to a change in the estimated fair value of the trade name, primarily driven by a substantial increase in discount rates related to Dresden’s business in Russia and Ukraine and this region’s political instability.
    Pension expense totaled $1.7 million and $3.6 million for the third quarters of 2014 and 2013, respectively. The decline reflects the benefit of higher discount rates and the amortization of deferred actuarial gains related to higher returns on assets in 2013. Because the Company’s qualified plan remains overfunded, a cash contribution is not required to be made in 2014 nor is a contribution expected in the foreseeable future.
    The Company completed the sale of 1,095 acres of timberlands during the third quarter of 2014 for $1.7 million and realized an after-tax gain of $1.0 million.
    In the third quarter of 2014, the Company recorded an income tax provision of $10.4 million on adjusted pre-tax earnings resulting in an effective tax rate of 25.2 percent. In the comparable quarter a year ago, the income tax provision totaled $4.8 million and the effective tax rate was 16.3 percent. The lower effective tax rate in 2013 was primarily due to changes in valuation allowances and the reduction of statutory tax rates in a foreign jurisdiction.
    Adjusted earnings in the third quarters of 2014 and 2013 excludes a benefit of $1.0 million and $9.9 million, respectively, from the release of tax reserves related to alternative fuel mixture credits earned in 2009, due to the lapse of the applicable statutes of limitation.

    Outlook
    In the fourth quarter of 2014, Composite Fibers’ shipping volumes are expected to be approximately 5 percent lower than the third quarter of 2014 primarily due to seasonality. Selling prices and raw material and energy prices are expected to be in-line with the third quarter. The impact of downtime to reduce inventory levels in the fourth quarter is estimated to be $1 million to $2 million higher compared to the third quarter.
    Shipping volumes for Advanced Airlaid Materials in the fourth quarter of 2014 are expected to decline by approximately 5 percent compared with the third quarter due to seasonality. Average raw material prices are expected to be slightly higher than the third quarter of 2014 resulting in higher selling prices consistent with our pass-through arrangements. In order to increase the production capacity of a line in Falkenhagen, the Company expects to incur approximately $1 million of costs related to lost production time from temporarily taking the line down.
    For Specialty Papers, the Company expects shipping volumes in the fourth quarter of 2014 to decline by approximately 5 percent compared to the third quarter due to seasonality. Overall selling prices are expected to be slightly lower than the third quarter of 2014 and input costs are expected to increase slightly. Maintenance costs are expected to be approximately $2 million higher in the fourth quarter compared with the third quarter due to normal variations in the timing of certain work.
    (Glatfelter Corporate Headquarters)
     
    11.11.2014   From Carnaby Street to global recognition     ( Company news )

    Company news It all began with a small design studio on a little road off Carnaby Street. SANTORO was Lucio and Meera Santoro’s small-scale venture into innovative graphic design. Today their work is found around the world and they have won some 50 international awards for their designs, greeting cards and 3D books.

    The company’s first big success came with its Swing Cards, a series of movable 3D greeting cards which are sent flat but which unfold themselves immediately they are removed from the envelope. Over the years the collection has gradually expanded and now consists of more than 90 different cards, which are sold world-wide, with over 15 million recipients to date.

    “If I’d realised how much work is involved in every card I never would have started this,” commented Lucio Santoro in the company’s showroom at the current headquarters at Rotunda Point in Wimbledon. “This must be the highest level of construction using paper materials.”

    “But at the same time, the demanding construction work has also protected us from copies and plagiarists. There are many other products which are far easier to copy.”

    It was while working on the original Swing Cards collection during the first half of the 1990s that the studio first encountered the paperboard called Invercote made by Iggesund Paperboard. Since then all the studio’s advanced collections have been made using Invercote.

    “Invercote maintains a very high and consistent quality,” Lucio Santoro said. “For our purposes, though, a few of its unusual features are the most important. Its very high tear resistance enables us to create finer details while at the same time the construction is more durable.

    “Another important property is dimensional stability. Few people realise that when you are working in three dimensions you not only have to ensure perfect registration between the printing inks but also with the printed image on the reverse. Dimensional stability is crucial for this.”

    Over time SANTORO has built up a portfolio of designs, which the studio now licenses to other users, an activity that currently brings in almost half the company’s revenues. Designs by Santoro are now printed on everything from bags and gift articles to housewares, notebooks, ceramics, apparel and footwear to name just a few. Lucio and Meera have also produced three 3D non-fiction books: Journey to the Moon, Wild Oceans and Predators.

    Sophisticated greeting cards are still an important part of SANTORO’s business. Last year the company launched its Pirouettes collection, which has good prospects of emulating the popularity of the Swing Cards.

    “We believe strongly in Pirouettes – you have to when it takes about two years to develop a collection,” Lucio said. “Sales have gone well so far but it will be a few years before we can see how the collection measures up to Swing Cards’ twenty years of popularity.”

    About 30 people work at SANTORO’s design studio in London, with a further 60 employees around the world.
    (Iggesund Paperboard AB)
     
    11.11.2014   Completion Date for the Acquisition of Carter Holt Harvey Limited's Pulp, Paper and Packaging ...    ( Company news )

    Company news ... Businesses (Progress Update)

    We previously announced on April 25, 2014 that Innovation Network Corporation of Japan and we have signed a definitive agreement to jointly acquire all of the stakes in Carter Holt Harvey Limited’s Pulp, Paper and Packaging Business. The business is based in New Zealand and Australia and are currently owned by Rank Group Limited. Today we are pleased to announce that the transaction is now envisaged to close on December 1, 2014 as we have obtained necessary regulatory approvals and met all other pre closing conditions.

    Planned Completion Date: December 1, 2014
    (Oji Holdings Corporation)
     
    10.11.2014   DS Smith acquires Grupo Andopack, Spain    ( Company news )

    Company news DS Smith is pleased to announce the acquisition of Andopack, a Spanish corrugated board producer. Andopack is a very well-invested and growing business with good access to both Barcelona and Madrid.

    Photo: Miles Roberts, Chief Executive of DS Smith

    The acquisition gives the Group a direct market position in Spain, allowing us to meet demands from our pan-European customers to have a presence in this important market. Andopack will provide cost and cash saving opportunities and an excellent platform for growth as we leverage our scale, innovation and customer relationships.

    The total consideration, including the assumption of debt, is expected to be circa £35m, subject to closing adjustments, representing a post synergy multiple of between 5.0 and 6.0x EBITDA. The transaction is being financed from existing cash resources and is expected to deliver a return on invested capital above our cost of capital in the second year of ownership.

    Miles Roberts, Chief Executive of DS Smith said: “The acquisition of Andopack in Spain is an exciting development for DS Smith as we continue to strengthen our pan-European customer offering. Andopack has high quality assets and we look forward to growing it further as we expand in this attractive market.”
    (DS Smith Plc)
     
    10.11.2014   AkzoNobel Q3 results 2014    ( Company news )

    Company news Profit grows following operational efficiencies despite fragile economy

    Photo: Akzo Nobel CEO Ton Büchner

    -Operating income totaled €335 million, boosted by operational efficiency programs and lower restructuring charges
    -Revenue down 2 percent: volume up 1 percent, more than offset by negative currency effects and divestments
    -Return on sales (ROS) at 9.1 percent (2013: 8.0 percent); excluding restructuring costs of €55 million (2013: €75 million), ROS is 10.6 percent (2013: 10.0 percent)
    -Net income attributable to shareholders €205 million (2013: €155 million), due to higher operating income and lower finance expenses
    -Adjusted EPS increased 24 percent to €0.92 (2013: €0.74)
    -Interim dividend of €0.33 declared
    -Net cash inflow from operating activities €489 million (2013: €552 million)
    -On track to deliver 2015 targets despite the continued fragile economic environment

    Akzo Nobel N.V. (AkzoNobel) reported positive volume growth and, for the fifth consecutive quarter, an improvement in Return on sales (ROS) – from 8.0 percent to 9.1 percent. Excluding restructuring costs of €55 million, ROS was 10.6 percent (2013: 10.0 percent).

    Operating income grew 11 percent to €335 million (2013: €303 million), reflecting the benefits of ongoing operational efficiency programs, although this was partially offset by new restructuring costs in Performance Coatings. Net income attributable to shareholders was €205 million (2013: €155 million), due to higher operating income and lower finance expenses. Revenue for the third quarter declined 2 percent, with volume growth being offset by negative currency effects and divestments.

    CEO Ton Büchner:
    "AkzoNobel delivered a solid Q3 performance, despite continued economic uncertainty. Return on sales improved for the fifth consecutive quarter to 9.1 percent, while operating income grew by 11 percent. Conditions continue to be challenging, but we have a resilient strategy focused on stimulating organic and sustainable growth. Coupled with the benefits from our ongoing operational efficiency programs, we are on track to deliver on our 2015 targets.

    "Q3 was also notable for several achievements, including being ranked first in our industry on the Dow Jones Sustainability Index for the third year running. In addition, our Human Cities initiative gathered momentum when we made a commitment to the Clinton Global Initiative and partnered with The Rockefeller Foundation through its 100 Resilient Cities program. We also developed coatings technology for the world's first fully recyclable and compostable paper cup, and we broke ground on a new Decorative Paints site in Chengdu, China."

    Decorative Paints: Volumes were flat compared with the previous year. Market conditions in Europe remained challenging, while volumes were higher in Asia. Revenue declined compared with the previous year, due to the divestment of Building Adhesives and the adverse price/mix effect driven by the sale of the German stores. Operating income was higher than 2013 due to lower restructuring expenses.

    Performance Coatings: Volumes were up, while revenue was flat on 2013 as price/mix and adverse currencies offset higher volumes. Cost control measures continued in all businesses. The new organizational structure has reduced the number of global management layers, resulting in higher restructuring costs. As a result, operating income declined on the previous year.

    Specialty Chemicals: Volume for the quarter was in line with 2013, with growth being offset by some planned outages in the chain, as well as industrial action in Rotterdam. Revenue declined, due to adverse currency developments and price pressure in some segments such as in caustic. Despite the economic slowdown, profitability increased due to benefits from restructuring activities and cost savings, as well as lower restructuring costs.

    Outlook
    AkzoNobel is on track to deliver on its 2015 targets despite the continued fragile economic environment.
    (Akzo Nobel Industrial Chemicals B.V.)
     
    10.11.2014   Smart automation technology for both one-off and mass production    ( LIGNA 2015 )

    LIGNA 2015 LIGNA presents "networked manufacturing" for the wood and furniture industries

    Changing conditions are forcing the wood and furniture industries to adapt in many ways. For example, market demand for one-off production is on the rise, and industry needs to deliver on this without compromising quality, efficiency or flexibility. The same goes for optimizing resource consumption and the long-term traceability of the components and materials used. In order to meet these and other challenges, it is essential that wood and furniture industry professionals as well as mechanical engineering and automation specialists pool their expertise and together develop suitably networked and integrated approaches to manufacturing.

    The place where it all comes together is LIGNA – the world’s leading trade fair for the forestry and wood industries. At LIGNA’s next staging (11 to 15 May 2015), exhibitors will be providing a comprehensive and revealing look at how cutting-edge networked production is already possible today. The most important innovations and solutions for smart manufacturing will be on display, giving tangible shape to the “Smart Factory” vision for woodworkers, wood processors and furniture makers.

    Smart manufacturing at every link in the chain
    Custom production of one-off furniture items requires a high degree of process reliability. System availability, throughput speed and processing performance must be in tune to ensure quality and efficiency. This requires very precise measurement technology as well as a high degree of automation. Each individual assembly needs to perform dependably, and communication between the various machines has to be seamless, also right on through to the planning and marketing phases.

    Smart automation solutions in the wood and furniture industry can enable manufacturing facilities to autonomously predict tool wear in advance, reduce emissions, optimize energy consumption through tailored assembly control, and prevent production flaws. Downtimes, manual adjustments and scrap are minimized, machine operating convenience and service life are improved, through-times are optimized, and productivity and energy efficiency raised – all without higher automation technology costs.

    PC-based control as the core technology
    Smart automation technology thus contributes significantly to making furniture manufacturing more flexible, efficient and sustainable. Already today, existing and new plants can be equipped with the core technology, which is PC-based and open system. Thanks to advanced telecommunications, data from every link of the production planning and manufacturing chain can be seamlessly exchanged in real time.

    So far, only applications of limited scale can benefit from the above technology. Currently available PC computing power cannot yet cope with the necessary volumes of data to control complex machines and systems. However, automation specialists are already working closely with their partners on promising new concepts, using a combination of leading-edge hardware and software to develop smart, high-performance system solutions that can connect to processing facilities with minimal custom programming.

    Christian Pfeiffer, head of the LIGNA department at Deutsche Messe, explains the need: “The major challenge for the future is to create an optimal control architecture to meet the complex requirements of the Smart Factory. Ideally this means both the horizontal networking of the process parameters for each individual step – e.g. order receipt, planning, manufacturing, logistics and distribution – as well as vertical integration of all data flows, embracing everything from the raw materials used right on up to the end of the product lifecycle.”

    Next May, international automation specialists and machine builders will be presenting their latest developments and pilot applications exclusively at LIGNA. This technology showcase for networked manufacturing offers practical guidance to companies of all sizes in search of the best ways to implement smart manufacturing. Smart, self-optimizing plant and equipment make it possible for the wood and furniture industries to score tremendous gains in terms of quality, competitiveness and flexibility.
    (Deutsche Messe AG )
     
    07.11.2014   Markham Vale breaks new ground for inspirepac    ( Company news )

    Company news inspirepac – part of the Logson Group - has confirmed it is to open a further site to facilitate its ongoing growth and success.

    Picture: Councillor Anne Western - Leader Derbyshire County Council, Chris Marples - inspirepac CEO and Joan Dixon - Cabinet Member for Economy Transport and Environment Derbyshire County Council.

    The new 100,000 sq. ft. factory is to be situated at Markham Vale, North Derbyshire. At the heart of the UK motorway network, the industrial park has direct access to the M1 North/South arterial route at Junction 29A, which is ideal to serve inspirepac’s growing customer base.

    The new site will see inspirepac transform its Group operations by investing £6m in state- of- the- art high quality post print (HQPP) and further digital capability, complementing its leading position in the high growth market sectors of retail ready packaging and point of sale. It is expected that the new site will commence production mid 2015 and will complement the existing production capabilities.

    Chris Marples, CEO, commented, “I am delighted and extremely proud to make this announcement which heralds a new era for inspirepac. This new site will operate alongside inspirepac’s existing businesses, supporting our plans for continued growth."

    The new site will see a £6 million investment in leading edge machinery, this will allow inspirepac to meet the ever growing demand for retail-ready packaging (RRP) and promotional packaging, giving customers maximum in store visibility and brand presence within the retail market.

    inspirepac Managing Director, Mark Hawkins said: “This is an exciting time for the inspirepac Group, we are investing in the latest print technology allowing us to further develop our innovative product offering.

    "Markham Vale takes our flexo and digital capabilities to another level and continues to challenge the offset litho market. These enhanced capabilities will ensure we stay ahead of the competition and gives peace of mind to our clients with regards to quality, colour consistency and brand integrity no matter the print process."

    In conjunction with inspirepac’s investment plans, sister company Board24 is to make a £9m investment in an additional corrugator at its Preston site, already the UK’s most efficient sheet feeding operation. The Preston investment, offering an enhanced coated grade offering, further strengthens inspirepac’s robust supply network delivering an exceptional choice of substrate, fluting profile and lead-time flexibility.

    Chris concluded; “Markham Vale will be a state of the art production site, with leading edge print capability but will have a 6,000 pallet distribution hub delivering improved supply chain efficiencies within the entire business. This optimises our workflow, process efficiency and logistics delivering exceptional market leading service to support our Customer’s growth plans. My personal vision is to double the Group turnover in the next five years, committing to Markham Vale gives us a platform to achieve this."
    (Inspirepac Limited)
     
    07.11.2014   Ahlstrom simplifies its structure and organization for faster execution and profitability improvemen    ( Company news )

    Company news Ahlstrom will simplify its structure and organization to enable faster execution and stronger accountability within business areas. The aim of the change is to accelerate profitability improvement. The new structure will be effective as of January 1, 2015. In addition, the composition of Ahlstrom's Executive Management Team will change with immediate effect.

    Photo: Marco Levi, Ahlstrom President & CEO

    Ahlstrom's new organizational structure will consist of three business areas: Filtration, Building and Energy, and Food and Medical. These business areas will have stronger operational alignment, including responsibility for sales and marketing, technical customer service, product development and operations.
    "The changes in operational and management structure will help to clarify the priorities for each business. I believe that we can facilitate faster execution and optimize our resources by strengthening accountability in the business areas close to our customers and markets", states Marco Levi, President & CEO.

    Executive Management Team appointments
    The following appointments in the Executive Management Team of Ahlstrom have been made:
    -Sakari Ahdekivi, CFO, responsible for Finance and Controlling, Information Technology and Communications
    -Ulla Bono, Executive Vice President, Legal, General Counsel
    -Fulvio Capussotti, EVP, Building and Energy, responsible for the wallcovering, flooring and composite businesses
    -Omar Hoek, EVP, Food and Medical, responsible for the food packaging, masking tape and medical businesses.
    -Jari Koikkalainen, EVP, Filtration, responsible for the transportation filtration and advanced filtration businesses
    -Nadia Stoykov, EVP, Commercial Excellence, Customer Service and Sourcing.
    -Päivi Leskinen, 49, M.Sc. (Soc.) will assume the role of Executive Vice President, Human Resources and member of the EMT. She has held several HR management positions at ABB, currently as Global HR Business Partner, EMEA, Ventyx, ABB Technology Ltd. She will join Ahlstrom in the first quarter of 2015.
    All EMT members will report to Marco Levi, President & CEO.

    Additional changes
    -Paul Stenson is appointed EVP, Filtration Product Development, reporting to Jari Koikkalainen. Paul will also maintain responsibility for aligning product and technology development capabilities as well as portfolio development between the three Business Areas.
    -Roberto Boggio has been appointed EVP, Operations, Food and Medical. Roberto will also assume responsibility for aligning operations, including manufacturing, engineering and logistics, within the three Business Areas. He will report to Omar Hoek.
    -Arnaud Marquis will assume the role of Vice President, Wallcover and Poster businesses, reporting to Fulvio Capussotti.
    -Paul, Roberto and Arnaud will step down from the EMT, and Paul and Roberto will become members of the Extended Executive Team which will be established to work in close collaboration with the EMT.
    -Following the changes, Paula Aarnio, EVP, HR & Sustainability; William Casey, EVP, Regional Sales, Americas; Rami Raulas, EVP, Regional Sales EMEAI, and Luc Rousselet, EVP, Supply Chain, will pursue other opportunities outside Ahlstrom and will leave the EMT.

    "Let me extend my thanks to Paula, William, Rami and Luc for their valuable contribution to the development of the company during the last years. I wish them all the best in their future challenges," Marco Levi continues.

    Changes in segment reporting
    Ahlstrom's three new business areas, Filtration, Building and Energy, and Food and Medical, will form the new financial reporting segments of the company. The changes are effective starting from January 1, 2015. The company plans to publish restated financial segment information before publishing its January-March 2015 interim report on April 28, 2015.
    (Ahlstrom Corporation)
     
    07.11.2014   Smurfit Kappa rolls out the Board Referee to global operations    ( Company news )

    Company news Smurfit Kappa has announced the roll out of the ‘Board Referee’, which is exclusively developed across all of its production sites in Europe, as part of a commitment to bring customers cutting edge innovation throughout its operations.

    The pioneering Board Referee was designed by Smurfit Kappa’s Development Centre in the Netherlands and continues the company’s practice of using insight, applied expertise and measurement to develop high-performance packaging products.

    The Board Referee is the latest in a long line of corrugated board innovations from the company, which is recognised for being the first to apply the ‘Three Point Bending’ theory (TPB) to packaging. This led to a revolution in how corrugated board is composed and flutes are designed. It also follows the application of insights from the aeronautic industry to develop Paper-to-Box, recognised as the packaging industry’s most advanced performance prediction tool.

    The Board Referee builds on this legacy, allowing the packaging firm to measure the performance of corrugated board using TPB theory. TPB provides Smurfit Kappa with data on the bending strength of the corrugated board used in packaging, so that it can be developed and improved accordingly.

    Ultimately, this guarantees that the board used in the stacking and storage of boxes is perfectly optimised for its purpose – providing customers with packaging that is strong enough to carry the load of the product and stack, while using the least amount of raw materials possible, delivering a solution that is both efficient and sustainable.

    By ensuring that the Board Referee is available in all its production sites, Smurfit Kappa is able to gather board performance results immediately, in real-time. It provides the packaging firm with greater insight and understanding of the quality of packaging materials, complementing its use of its other ‘InnoTools’ such as Paper-to-Box and Pack Expert.

    Arco Berkenbosch, V.P. Research and Development,Smurfit Kappa, said, “This industry-first technology is perfectly suited to our customers’ needs, allowing us to develop packaging that utilises the full potential of paper in the most efficient and sustainable way possible. This is further evidence of how our expertise and relentless commitment to innovation and ingenuity continues to offer tangible benefits for our customers.”

    “The Board Referee means that we will be able to measure the performance of 50,000 products each month, giving us a unique ability to make rapid improvements to packaging board where necessary. This is part of our commitment to ensuring customers receive high performance packaging, informed by smart insight and measurement.”

    Walter De Smedt, V.P. Technical & Operational Excellence at Smurfit Kappa, said “We’re delighted to announce the use of the Board Referee across our operations, which will be vital in ensuring we’re able to continue to develop consistently high quality products. The use of Three Point Bending across all our production facilities will help to drive the packaging industry towards production processes that focus on the needs of the end-user, whereby the board is perfectly suited for use.”

    The use of the Board Referee is another example of how Smurfit Kappa is set to ‘Open the future’ for its customers. The new strategy focuses on delivering customer growth through insight and innovation. It is brought to life through a dynamic microsite, where a series of films demonstrate how customers across the world have worked in partnership with Smurfit Kappa to create innovative solutions which have driven commercial success. The new microsite can be visited at openthefuture.info, the home for new, shareable content which is updated regularly.
    (Smurfit Kappa Group Headquarters plc)
     
    07.11.2014   Sofidel once again amongst the leading companies in CDP Italy Climate Change Report 2014    ( Company news )

    Company news For the second consecutive year Sofidel, one of the leading European manufacturers of paper for hygienic and domestic use, is the only Italian not listed company to enter CDP Italy Climate Change Report 2014. The company, which improves significantly its disclosure and performance scores, is amongst the high scored companies.

    Sofidel further improves its performance in terms of completeness, transparency and quality of information and its climate change strategy in reducing CO2 emissions.
    The accomplishment was announced on the occasion of CDP Italy Climate Change Report 2014 & Leadership Awards in Milan.
    Sofidel has achieved a disclosure score of 88/100 (it was 73/100 in 2013) on the assessment of the quality and completeness of the information disclosed, and a performance band B (it was C in 2013),
    on a scale from A (highest) to E (minimum), for the efforts in reducing its CO2 emissions.
    Amongst the responding companies there has been an improvement in the CDP average score, from 66C in 2013 to 71B this year.
    For the second running year Sofidel is the only Italian not listed company to be included in the report.

    “It is a meaningful achievement that testifies our commitment to transparency and our action to tackle climate change" said Mr. Luigi Lazzareschi, CEO of the Sofidel Group.
    Carbon Disclosure Project (CDP) is an international, not-for-profit organization providing the only global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP is backed in 2014 by more than 767 institutional investors representing an excess of 92 trillion USD in assets.
    In 2014, CDP requested climate change information from the 100 largest stock-listed companies in Italy. 53 the responding companies, amongst others, Fiat, Piaggio, Pirelli, YOOX, ENI, Intesa Sanpaolo, UniCredit, CNH Industrial NV, and Enel.
    (Sofidel S.p.A.)
     
    07.11.2014   Significantly better efficiency: The new NASH 2BE5 series    ( Company news )

    Company news A vacuum level down to 100 mbar abs. and improved efficiency of up to 10%: with its new NASH 2BE5 series, Gardner Denver Nash is extending its competence in the market for liquid ring pumps with high gas flow rates.
    The NASH 2BE5 has been launched to build on the proven NASH 2BE4 series, further improving its already impressive performance. The development goal was to optimize and extend the performance the vacuum range below 300 mbar abs.
    The result: The new NASH 2BE5 series pumps are able to achieve vacuum levels down to 100 mbar abs.
    This is made possible primarily by optimization of the gas flow. The patented gas scavenger provides increased vacuum capacity and, consequently, a significant improvement in terms of efficiency. Compared to the basic 2BE4 model, water consumption in the once-through mode has been reduced by up to 25%. Improved fluid self-recirculation eliminates the need for booster pumps, which in turn creates greater energy savings.

    Service aspects were also taken into consideration during the 2BE5 development:
    Removable bearing brackets simplify on-site maintenance and help to reduce repair times. Rigidity is improved by bolt connections of the body and side shield, producing an optimum seal in compressor operation. Certification to ATEX is already in the pipeline, making this pump also suitable for use in potentially explosive atmospheres.
    The NASH 2BE5 series can be used both as a vacuum pump and a compressor. For vacuum generation, suction capacities are between 2500 and 32000 m³/h, reaching down to 100 mbar abs of vacuum.
    When used as a compressor, they achieve between 3000 and 9500 m³/h with compression of up to 2.5 bar abs.
    In terms of their outer dimensions, footprint and port sizes, the NASH 2BE5 series is identical to the basic NASH 2BE4 model, making it simple to upgrade to a new, more efficient machine at any time.

    The NASH 2BE5 series has been consistently developed in line with the wideranging requirements of the process industry. Two material options and a wide range of material combinations have made this an adaptable pump capable of addressing a wide spectrum of applications. The NASH 2BE5 is available in ductile iron and stainless steel, or a combination of these two materials. In ductile iron, the body is always supplied with a polyisoprene lining. This allows the series to be used in wide-ranging types of applications across many sectors of industry, including chemical process engineering, filtration applications, the pulp and paper industry, in power plants, refineries and many others.
    (Nash - Zweigniederlassung der Gardner Denver Deutschland GmbH)
     
    07.11.2014   Per Lundeen has been appointed acting CEO of Rottneros AB and Carl-Johan Jonsson leaves    ( Company news )

    Company news Rottneros AB (publ) hereby announces that Carl-Johan Jonsson with immediate effect leaves the company and is replaced by the board member Per Lundeen (photo) as acting CEO. The recruitment process for a permanent CEO has been initiated.

    "Rottneros is developing positively and the profit improvement program, Fokus 15, that was initiated by the board will continue. The change of leadership is based on different views on leadership and organizational development", says Rune Ingvarsson, chairman of the board, Rottneros.

    Per Lundeen is a member of the board of Rottneros since 2013. Per Lundeen has a Master of Science from Chalmers University of Technology and long experience from management roles, especially in the packaging and paper converting industry. Among others Per Lundeen was the CEO at Å&R Packaging from 2000 to 2012.
    (Rottneros AB (publ))
     
    06.11.2014   FILTREX™ Europe reinforces the bright future of nonwoven filter media    ( Company news )

    Company news The 2014 FILTREX™ conference on nonwoven filter media attracted more than 160 delegates at the conference, with a focus on automotive applications, innovation in filter media, indoor air quality, and measuring and testing methods.

    EDANA closed the 2014 FILTREX™ conference on nonwoven filter media, with thanks and celebration for the 10th anniversary of the conference. With more than 160 delegates at the conference, this 6th edition gave focus to automotive applications, innovation in filter media, indoor air quality, and measuring and testing methods.

    Speaking at the opening of the event, Pierre Wiertz (photo), General Manager of EDANA said “Once again, the whole supply chain is meeting for a unique conference focused solely on nonwoven filter media. With this our 6th edition of FILTREX™ Europe since 2004, and 3 editions already held across Asia and the Indian Subcontinent, this conference and exhibition continues to be the ‘place to be’ to hear about the Future of Filtration.”

    Wiertz continued “The challenges raised by the relative uncertainty of the global economy and geo-political situation in this second half of 2014 should not let us forget that FILTREX™ was born just 10 years ago, and has been organised every second year since then in Europe, without being too heavily affected by the fluctuating and challenging economic and business environment since then.”

    Filter media, all applications included, are the fastest growing end-use of nonwovens globally and in each continent (over 9% average annual growth both before and after the 2008 financial crisis). According to EDANA estimates, with input from global partner associations INDA and ANFA, worldwide sales of filter media represented more than 400,000 tonnes of nonwovens in 2011, and this is forecast to grow to 700,000 in 2016, with Asia more than doubling and representing almost half of the global estimated figure of 700,000 tonnes in 2016. This would mean that filter media will represent around 8% of total sales of the global nonwovens output in 2016, estimated at 8.5 million tonnes.

    Speaking at the evening cocktail, Mr Robert Glaze, President of the Brenva Institute offered a discussion on “What happened to the future? A primer for the uncertain Executive”, which addressed the uncertainty and complexity that has accompanied the rapid evolution of technologies.

    With a renewed format in 2014 to meet the changing needs of the global nonwoven filter media industry, delegates had the opportunity to hear leading spokespersons for the industry discuss the impact of regulations for fuels on the automotive filtration supply chain, and the main opportunities and challenges of air filtration media, and on the best measurements of indoor air quality.

    As part of EDANA’s ongoing support to the nonwoven filter media industry, the Association announced the 2-day Training Course on the Fundamentals of Filtration which will take place on 26th and 27th November, 2014 in Brussels. Both member and non-member companies are invited to register any newcomer to the industry.

    Closing the conference, Dr Joerg Sievert, CEO Freudenberg Filtration and Chair of the FILTREX™ Steering Committee, also invited all participants to once again join their industry colleagues at the FILTREX™ Asia conference on the 17th and 18th March 2015 in Hong Kong.
    (EDANA International Association Serving the Nonwovens and Related Industries)
     
    06.11.2014   NewPage Announces Third Quarter 2014 Financial Results    ( Company news )

    Company news NewPage Holdings Inc. ("NewPage") announced its results of operations for the third quarter of 2014.

    Net sales in the third quarter of 2014 were $796 million compared to $780 million in the third quarter of 2013. Net sales improved due to higher sales volume of paper partially offset by lower paper prices. Paper pricing is impacted by lower industry demand. Paper sales volume totaled 876,000 tons and 843,000 tons for the third quarter of 2014 and 2013. Average paper prices were $884 per ton and $892 per ton in the third quarter of 2014 and 2013.

    For the third quarter of 2014, net income was $8 million compared to $21 million in the third quarter of 2013. The decrease was the result of higher input costs, higher interest expense and lower paper prices, partially offset by lower non-cash stock compensation expense, lower pension expense and other cost reduction initiatives.

    Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization as further adjusted as shown in the attached reconciliation) was $83 million in the third quarter of 2014 compared to $85 million in third quarter of 2013.

    NewPage ended the third quarter with total liquidity of $287 million, consisting of $278 million of availability under the revolving credit facility and $9 million of available cash and cash equivalents.

    Operating cash flows were $29 million in the third quarter of 2014 compared to $7 million in the third quarter of 2013. For the nine months ended September 30, 2014, the company used $22 million of cash in operations compared to $16 million for the nine months ended September 30, 2013. The increase is primarily the result of higher input costs, driven by weather-related factors, higher cash interest and other cash charges associated with the February 2014 debt refinancing, partially offset by a reduction in cash requirements for bankruptcy-related items. Cash used for operating activities during the nine months ended September 30, 2013 includes $60 million in non-recurring bankruptcy-related payments.
    (NewPage Corporation)
     
    06.11.2014   Kazakhstan Kagazy PLC announces audited financial results for year 2013    ( Company news )

    Company news Kazakhstan Kagazy PLC (KAG LI) (the “Group”) announces its audited consolidated financial results for the 12 months period ended 31 December 20131 (the “Period”).

    Financial highlights
    -Group revenue of US$ 70.5 million (US$ 67.8 million a year ago)
    -Gross profit of US$ 32.3 million (US$ 31.3 million a year ago)
    -Gross margin of 45.8% (46.2% a year ago)
    -EBITDA before exceptional items of US$ 15.7 million (US$ 18.7 million a year ago)
    -EBIT before exceptional items of US$ 12.2 million (US$ 15.1 million a year ago)
    -Total Comprehensive loss of US$ 112.6 million (US$ 35.6 million a year ago)
    -Economic loss of US$ 6.8 million (US$ 13.7 million a year ago)
    -Operating Cash Flows of US$ 18.1 million (US$ 24.3 million a year ago)

    The Group’s revenue increased by US$ 2.7 million over the period. This was mainly attributable to the increase in revenues from the paper segment. Gross margins have remained stable.
    The Group’s EBITDA has decreased by US$ 3.0 million due to an increase in distribution costs of US$ 1.1 million, increase in staff costs of US$ 1.3 million, and an increase in provision against VAT recoverable of US$ 1.5 million. This was partially compensated by the increase in gross profit of US$ 1.0 million.
    The Group’s Total Comprehensive loss has increased by US$ 77.0 million due to a decrease in the Group’s EBITDA of US$ 3.0 million, increase in impairment charges of US$ 22.1 million, increase in finance costs of US$ 29.7 million, increase of income tax expenses of US$ 8.1 million and increase in loss of discontinued operations of US$ 23.2 million.
    The Group’s Operating Cash Flows have decreased by US$ 6.2 million, mostly caused by an increase in income tax of USD 1.2 million and legal and professional fees of USD 3.9 million.
    Operational highlights

    Paper Business
    Production of paper for the Period amounted to 55.1 thousand tons compared to 52.5 thousand tons for the same period of 2012.
    Production of corrugated packaging for the Period amounted to 98.3 million square meters compared to 97.1 million square meters for the same period of 2012.
    Sales of paper to third parties for the Period amounted to 17.6 thousand tons compared to 16.9 thousand tons for the same period of 2012.
    Sales of corrugated packaging for the Period amounted to 98.1 million square meters compared to 96.4 million square meters for the same period of 2012.
    The average selling price of paper and corrugated packaging decreased 0.7%.

    Logistics Business
    The revenue of the Logistics business only includes the revenue for our Class B warehouse, as our Class A and Container Terminal were disposed of in January 2014.
    Average occupancy of the Class B warehouses stood at 95% compared to 94% for the same period in 2012.
    Class B business revenue increased 13.8% which is mainly attributable to the increase in other value added services as terminal handling, rent of open sites and temporary storage.
    (Kazakhstan Kagazy JSC)
     
    06.11.2014   RadTech Europe Call for Papers    ( Company news )

    Company news Building the RadTech Europe conference’s programme 2015

    RadTech Europe (RTE), the European association for UV- and EB-curing technology, is inviting industry professionals to submit papers for the 2015 RadTech Europe Conference and Exhibition, scheduled for October 13 – 15 2015 in Prague, Czech Republic.

    Conference Chair Dawn Skinner comments: “The RTE Conference and Exhibition is the place to find out about the latest developments in UV- and EB-curing. Under the theme “UV/EB NOW: new place, new format, new applications” our event will focus on the latest innovations, applications and trends in radiation curing, as well as relevant legislation.”

    The deadline for submission of titles and abstracts is February 11, 2015. The conference program committee will select proposed presentations based on the scientific significance and potential value added to the industry. The best paper will be awarded the prestigious Paul Dufour Award 2015.

    For additional information on submitting abstracts and the event itself, visit www.radtech-europe.com/events/radtech15.
    (RTE RadTech Europe Office)
     
    06.11.2014   ANDRITZ GROUP: solid business development in the third quarter of 2014    ( Company news )

    Company news In the third quarter of 2014, international technology Group ANDRITZ showed solid business development in an unchanged challenging economic environment

    Sales amounted to 1,463.5 MEUR in the third quarter of 2014 and were thus below the level of the previous yearʼs reference period (Q3 2013: 1,534.5 MEUR); the decline of 4.6% is mainly due to a project-related drop in sales in the PULP & PAPER and the METALS business areas. In the first three quarters of 2014, sales of the Group amounted to 4,122.9 MEUR and thus practically reached last yearʼs reference figure (-0.5% versus Q1-Q3 2013: 4,144.6 MEUR).

    The order intake in the third quarter of 2014 amounted to 1,591.5 MEUR, which is 4.3% higher than the very good level in the third quarter of 2013 (1,525.3 MEUR). This positive development is attributable to the METALS business area, where several larger orders were secured in the metalforming (Schuler) and aluminum sectors. In the first three quarters of 2014, the order intake of the Group saw very favorable development: At 4,571.6 MEUR, order intake was 12.8% higher than in the previous yearʼs reference period (Q1-Q3 2013: 4,051.3 MEUR) – with the Schuler Group contributing 916.3 MEUR (Q1-Q3 2013: 657.8 MEUR); however, Schuler was only included in the last yearʼs reference period from March 1, 2013 (date of first-time consolidation). Excluding Schuler, the Group’s order intake would have increased by 7.7%.

    As of September 30, 2014, the order backlog amounted to 7,702.2 MEUR – an increase of 4.2% compared to the end of 2013 (December 31, 2013: 7,388.5 MEUR).

    In the third quarter of 2014, the EBITA amounted to 101.0 MEUR and was thus 44.1% higher than the low level of the previous yearʼs reference period (Q3 2013: 70.1 MEUR), which was impacted negatively by additional costs in the PULP & PAPER and the SEPARATION business areas. The Groupʼs EBITA margin also increased substantially to 6.9% (Q3 2013: 4.6%). In the first three quarters of 2014, the EBITA amounted to 234.4 MEUR (+40.4% versus Q1-Q3 2013: 167.0 MEUR) and the EBITA margin was 5.7% (Q1-Q3 2013: 4.0%).

    The net income of the Group in the first three quarters of 2014 amounted to 123.6 MEUR and was thus significantly higher than the previous yearʼs reference value (Q1-Q3 2013: 78.8 MEUR).

    On the basis of this business development, the current order backlog, and the sales contribution by the Schuler Group, which was not included in the accounts for the full twelve months in 2013, ANDRITZ expects a slight rise in sales in the 2014 business year compared to the previous year. A significant improvement is expected in the net income compared to the low level of 2013.
    (Andritz AG)
     
    05.11.2014   Domtar Corporation reports preliminary third quarter 2014 financial results    ( Company news )

    Company news Strong performance in pulp and paper drive improved earnings

    -Third quarter 2014 net earnings of $4.33 per share; earnings before items1 of $0.94 per share
    -Lack-of-order downtime totaling 51 thousand tons of paper, in-line with the second quarter
    -Share buybacks totaling $19 million

    Photo: John D. Williams, President and Chief Executive Officer

    Domtar Corporation (NYSE: UFS) (TSX: UFS) today reported net earnings of $281 million ($4.33 per share) for the third quarter of 2014 compared to net earnings of $40 million ($0.61 per share) for the second quarter of 2014 and net earnings of $27 million ($0.41 per share) for the third quarter of 2013. Sales for the third quarter of 2014 were $1,405 million.
    Excluding items listed below, the Company had earnings before items1 of $61 million ($0.94 per share) for the third quarter of 2014 compared to earnings before items1 of $40 million ($0.61 per share) for the second quarter of 2014 and earnings before items1 of $41 million ($0.63 per share) for the third quarter of 2013.

    Third quarter 2014 items:
    -Deferred tax benefit of $204 million for the settlement of IRS audits, primarily related to Alternative Fuel Tax Credits;
    -Recognition of $18 million of deferred Alternative Fuel Tax Credits ($18 million after tax); and
    -Closure and restructuring costs of $2 million ($2 million after tax).

    Second quarter 2014 items:
    -None

    Third quarter 2013 items:
    -Loss on sale of business of $19 million ($12 million after tax); and
    -Negative impact of purchase accounting of $2 million ($2 million after tax).

    "Our financial performance improved when compared to the second quarter, resulting in strong free cash flow generation", said John D. Williams, President and Chief Executive Officer. "Our pulp shipments were sequentially higher, raw material and planned maintenance costs were lower and our paper pricing remained firm in a very competitive environment. Given current market conditions, we continue to manage the business prudently, adjusting our production to our customers' demand through market-related downtime."
    "In Personal Care, our third quarter results were affected by some seasonality in our European business as well as the effect of a weaker Euro. We continued to execute on our capital expansion plans, further integrating operational and product improvements and we made good progress with the ramp up of five newly installed machines at three of our facilities."

    LIQUIDITY AND CAPITAL
    Cash flow provided from operating activities amounted to $203 million and capital expenditures were $56 million, resulting in free cash flow1 of $147 million for the third quarter of 2014. Domtar's net debt-to-total capitalization ratio1 stood at 30% at September 30, 2014 compared to 32% at June 30, 2014.

    OUTLOOK
    Domtar paper shipments are expected to decline in the fourth quarter when compared to the third quarter due to seasonality. Domtar will continue to closely monitor its inventory levels and balance its production with its customers' demand. We remain cautious on the short-term pulp outlook due to the recent strengthening of the U.S. dollar and we expect higher input costs due to increased raw material usage in the winter months. We expect the fourth quarter will benefit from lower maintenance activities in our network.
     
    05.11.2014   L.C. Paper started up PM2 rebuild by Toscotec in Besalu, Spain    ( Company news )

    Company news At the beginning of October 2014 the Spanish Company L.C. Paper 1881 has started up PM2 in Besalu, (Catalunya – Spain) after a major dry-end rebuild with Toscotec and its associate Milltech.

    The rebuild project target was mainly to reduce PM2 energy costs and improve paper machine efficiency as well as increase the production at higher tissue grades thanks to the application of TT DOES (Drying Optimization for Energy Saving) package.
    LC Paper was formed in 1881 on the back of the Industrial Revolution and is now well regarded for its production of niche tissue products contained with two tissue machines (PM2 and PM3) annually producing 65,000 tonnes of tissue for the AfH market. The main focus of the mill is toward energy saving aspects and for this reason since many years the Company has been focused on cogeneration applications.
    Already in 1993, LC Paper introduced in the mill a cogeneration plant. It was the first plant with a diesel engine of 6.5 MW in Spain that was expanded in 1999 with a second 6 MW engine.
    In 2009 LC Paper launched PM3 with a patented process that takes gas from the cogeneration plant to dry the paper by the means of an innovative hood provided already by Milltech. In 2011 the first diesel engine was sold and in 2012 LC paper installed a new gas engine. 6 MW of this energy have been used for feeding the new hood by Milltech on PM2 with a further decrease of energy consumption.

    The combined scope of supply Toscotec/Milltech featured a new double presses configuration with a rebuild of the felt run, a new TT SYD-15FT with doctoring system and a Duo-system Yankee hood, SMART eMT type from Milltech. The wet end hood is burner feeding type while the dry end hood could be fed either by cogeneration gases or by conventional burner.
    So the exhaust gases coming from a gas engine are used to generate two stages of steam (high and low pressure) through steam generators in addition to the heat recovery to pre-heat the make-up and combustion air for the hood.
    Maximum drying production with a machine trim width at reel of 3050 mm will be 130 tpd.
    With this new intervention the PM2 thermal consumption will be lowered to 1,350 kWh/t.
    The rebuild project has been successful thanks to the close collaboration between the L.C. Paper staff and Toscotec and Milltech teams which were able once more to introduce innovative solutions to the tissue production process in accordance with LC Paper business philosophy.
    (Toscotec S.p.A.)
     
    05.11.2014   Packaging Corporation of America Reports Record Third Quarter 2014 Results    ( Company news )

    Company news Packaging Corporation of America (NYSE: PKG) reported third quarter net income of $104 million, or $1.06 per share. Third quarter net income included after-tax charges for the Boise integration, debt refinancing and DeRidder mill restructuring of $20 million, or $0.20 per share, including cash charges of $6 million, or $0.06 per share, and non-cash charges of $14 million, or $0.14 per share. Excluding special items, third quarter 2014 net income was $124 million, or $1.26 per share, compared to third quarter 2013 net income of $89 million, or $0.92 per share, and second quarter 2014 net income of $114 million, or $1.16 per share. Details of special items are shown in the schedules included with this press release. Third quarter net sales were $1,519 million compared to third quarter 2013 net sales of $845 million and second quarter 2014 net sales of $1,468 million.

    Photo: Mark W. Kowlzan, Chief Executive Officer of PCA

    Excluding special items, the $0.10 per share increase in third quarter 2014 earnings, compared to second quarter 2014 earnings, was driven by increased sales volume and improved mix ($0.12), lower fuel costs ($0.02) and lower chemical and recycled fiber costs ($0.02). These items were partially offset by higher annual outage costs ($0.03), higher electricity costs ($0.02) and higher medical and worker’s compensation costs ($0.02).

    In the packaging segment, EBITDA, excluding special items, was $262 million on sales of $1,176 million. With the acquisition of Boise, corrugated products shipments were up 33% compared to the third quarter of 2013. Excluding Boise, PCA shipments were up 6.2% in total and 4.5% per workday compared to the third quarter of last year. With strong internal demand, PCA reduced its outside sales of containerboard by 19,000 tons compared to last year’s third quarter. Containerboard production was 858,000 tons, up 12,000 tons compared to the second quarter of this year.

    In the paper segment, EBITDA, excluding special items, was $56 million on sales of $313 million. Office paper shipments were up 7.3% compared with this year's second quarter, and down 5.4% compared to last year’s third quarter. Printing and converting and pressure sensitive paper shipments were up 3,000 tons compared to the second quarter, and decreased by 22,000 tons compared to last year's third quarter, as a result of the fourth quarter 2013 paper machine closures at the International Falls, Minnesota mill.

    Commenting on reported results, Mark W. Kowlzan, Chief Executive Officer of PCA, said, “This was our 8th consecutive quarter of record earnings driven by strong sales volume, record mill productivity, and mill cost reductions. The integration of Boise packaging continues to generate significant synergies, and operational improvements in White Papers have resulted in lower costs and higher margins. The conversion of the No. 3 newsprint machine to containerboard at DeRidder was completed on October 17th, two weeks ahead of schedule. The start-up of the machine is progressing as planned with no major production or quality issues so far.”
    “Looking ahead to the fourth quarter, with the Deridder machine conversion, we expect higher mill production which will allow us to reduce our outside purchases of containerboard. Corrugated products shipments are expected to be lower than in the third quarter with three less shipping days, and we also expect seasonally lower white paper shipments. Amortization of annual outage repair costs will be about $0.07 per share higher than the third quarter, and we expect seasonal increases in fuel and transportation costs. Considering these items, we expect fourth quarter earnings of $1.16 per share.”
    (PCA Packaging Corporation of America)
     
    05.11.2014   EDANA General Manager presents global nonwovens industry's successes, challenges and ...    ( Company news )

    Company news ...perspectives to Indian industry leaders

    Concensus with panelists on considerable growth potential for India’s domestic nonwovens market

    Speaking in Mumbai at the 2014 Techtextil Symposium held on October 16th and 17th, Pierre Wiertz (photo), General Manager of EDANA, reminded the Indian industry leaders and supply chain representatives for both technical textiles and nonwovens attending the event that the global growth rate of the overall production of nonwovens has outpaced that of many other industries’ output since the beginning of the 21st Century or so (and well before already), but in doing that, it had more often been following rather than outpacing the global economic growth.
    "This makes nonwovens one of the fastest growing fibre-consuming sectors, if not the fastest" remarked Wiertz " but nonwovens are not just textiles, as they can be made of many other materials such as cellulose, carbon or mineral fibres than what conventional classifications consider to be 'textile fibres'."

    Comparing the stage of developments of the various continental bases of nonwovens production and consumption, Wiertz suggested that almost exactly as the earth’s population reached 7 billion people in 2011, the world annual average per capita consumption figure of nonwovens reached an impressive and unprecedented figure of 1kg (as global nonwovens output reached 7 million metric tons). Considering the current slow-down in nonwovens growth since then, it will however probably take to 2021 or longer to double this symbolic level. "Asia will see the fastest growth rates, but while China has already reached a remarkable level of over 1kg/capita - admittedly still less than half of the European level, India is lagging behind, with less than 0.3kg, or 300g per capita" continued Wiertz.

    The panel of speakers presenting nonwovens developments in India agreed that the growth of the Indian nonwovens industry's output was poised to accelerate from the current level around 250,000 tons, but also, to shift in quality and end-uses.

    Whilst a predominant share of the lower quality spunlaid nonwovens produced go to commodities such as low-end packaging items, new production capacities of nonwovens production coming on stream in the next few years would be primarily oriented towards the essential need of India’s huge population in hygiene, medical, mobility, filtration, construction and infrastructure.

    Altogether, opportunities for the whole value chain, including the increasingly sophisticated machinery requirements, were emphasised, and the considerable local polymer and staple fibre production capacities may play a significant role in this development.

    "Eventually, the whole question of how nonwovens and nonwoven-based products are perceived (or ignored) by individual citizens and consumers, but also by media, authorities and opinion leaders, is another subject of concern, which should -and does- prompt EDANA to act with and on behalf of its member companies." said Wiertz.
    "More and better communication is required, in India like elsewhere, to convey the positive contribution of nonwovens to people’s lives and to society, but also to fight misperceptions and prejudices about their environmental impact."

    In this respect, the first two product categories of EDANA’s major project “Life with Nonwovens”, which were released at the INDEX exhibition earlier this year - infographic posters on crop-covers and geotextiles illustrating the benefits of nonwoven solutions in agriculture and road construction compared to alternative solutions - appear to be elements of the answer required in a country like India. However, action towards authorities to emphasize the low impact and compatibility of single-use articles such as hygiene and medical nonwovens in modernized waste management systems will also be required.

    “EDANA, concluded Wiertz, "is determined to support the development of the nonwovens industry in India by any suitable means”. As a result, he announced a major EDANA nonwovens conference in the first quarter of 2016, to cover market developments in all priority segments."
    (EDANA International Association Serving the Nonwovens and Related Industries)
     
    05.11.2014   UNISET – the long seller with double circumference    ( Company news )

    Company news The UNISET from manroland web systems is the world's most successful single-width newspaper printing press series with double circumference.
    Since its market launch in the early 1990s, more than 350 UNISET presses with more than 1100 printing towers have been installed around the world. The design with two broadsheet pages each in the circumference and up to three in the web width is the basis for the high productivity of the press. With the latest version, up to 80,000 newspaper copies can be produced on each web per hour. Newspaper publishers in particular appreciate the high performance and reliability of the series. Over the last few years, several Chinese printing houses have also opted for this high-quality technology. This year’s clients include the People’s Daily and Economic Daily in Beijing.

    The UNISET is particularly popular in China. Overall, more than 130 UNISET presses are currently operating in Chinese printing houses – clear evidence of the ongoing acceptance of these rotary presses by Chinese printing companies. The single width format is perfectly suited to the Chinese paper logistics chain, coupled with the particularly high productivity of the double circumference. In addition, the option of 2-page increments and single or double production make the system extremely flexible. The well-known high printing quality and reliability of manroland web systems’ presses also substantially contributes to the popularity of the UNISET. The newly ordered presses in Beijing are a continuation of this impressive success story. Guizhou Ribao, Sichuan Ribao, and Anhui Ribao were the last companies to commission presses of this type.

    Two new UNISET presses for Beijing in 2015
    The People’s Daily and Economic Daily in Beijing are the two Chinese printing companies that most recently opted for the successful 2-2 newspaper offset system. The new UNISET for the People`s Daily will take up operation at the end of this year and will be part of a completely new printing center at a new location. Other already operational printing presses will also be moved to the new building. The new pressline is already the seventh UNISET for the influential Chinese publishing house, underscoring the long-standing mutually trusting relationship. The printing company produces more than 70 different issues daily with a print run of around five million broadsheet copies. This amounts to an annual print run of 1.825 billion copies.

    Strategic approach of the Economic Daily
    Two new UNISET newspaper printing presses from manroland web systems will replace several old systems at the Economic Daily. They will commence operation in September 2015. Established in 1983, the company is striving to become one of the worlrd's largest and most influential economic newspapers. The publishing house already has 60 subsidiaries in China and more than 20 locations abroad. The Economic Daily Group includes nine newspapers, five magazines, and two publishing houses. The successful Chinese corporation also incorporates a centralized Internet portal, a printshop, and a vocational school. Currently, the Economic Daily printing house in Beijing has 220 employees and its annual print volume amounts to 100 million broadsheet pages. In Beijing, it produces 30 newspapers and magazines. In addition to the Economic Daily, its publications include, for example, China Population News, China Business News, Entertainment News, and Beijing Morning Post.

    Redesign: Smaller and more powerful
    With the redesign of the UNISET, manroland web systems has responded to the growing demand of many customers for compact presses. The latest generation offers a clear advantage with an installation height of only 480 cm for an eight-couple tower. Of course, the known advantages such as the stable construction and the optional 11-roller inking unit as the basis for sustainably high printing quality remain unchanged. One gallery level is enough for carrying out all frequent tasks on the press. The printer can use the MobilPad, the mobile control console from manroland web systems, directly on location to, for example, optimize the settings of the turner bar nest or the folder.

    Successful around the world
    The concept of producing eight broadsheet pages with single-width presses is attractive to many printing houses not only because of the high productivity of the double circumference. The application options of the UNISET range from newspaper printing in single or double production up to commercial applications for heatset and book printing. This is based on the wide variety of configuration options from pure newspaper production systems to combined presses for newspaper and book printing, up to commercial systems with heatset or UV equipment. Pin jaw folders with quarter folds and various finishing units, such as stitching and gluing devices, complement the scope of possibilities.

    Ecological and economical
    The new UNISET generation is also state of the art when it comes to sustainability.

    Up to eight percent of energy can be saved through consistent application of a single motor for 2 printing couples as opposed to a single motor per printing couple. The new technology even offers up to 13% savings compared to conventional DC drives. This way, less heat is generated in the pressroom. The use of water-cooled motors also eliminates the need for time-consuming filter replacements. Featuring component presets, automated threading-in, and automated press start-up with QuickStart, the Inline Control systems from manroland web systems considerably contribute to reducing the CO2 footprint of the system – minimizing waste always protects resources as well.

    Inside: High performance expertise of manroland web systems
    The high performance capacity of the UNISET is primarily based on the many years of experience of the manroland web systems designers in the area of printing press construction. This allows the system to produce 80,000 copies per hour from the outset, day by day, year by year. An especially high quality folding system with optimized product lead, additional product deceleration, and lighter-weight folding cylinders increases the production capacity per shift. The high printing quality of the UNISET is additionally ensured in the long run by the optional IROLOC roller supports. They use simple mechanics to compensate for the temperature-based size changes of the rollers and roller coverings. This lowers energy costs and decreases the required maintenance for the rollers by around 65% while increasing the service life of the rollers by up to one-fifth.

    Special equipment for high-end quality and heatset
    For commercial productions with particularly high printing quality requirements, the UNISET is available with an equipment package that is derived in part from the experiences with high-volume commercial offset printing with the LITHOMAN series. The ink flow is optimized by a large ink fountain roller and a larger film roller. Laser-cut ink zone meters enable precise ink profiles. The UNISET is the only series of its class that is also available with three cooled oscillating ink rollers and three ink form rollers. In addition, dryers and cooling units as well as all other system components required for heatset offset can be integrated. The UNISET is the uncontested market leader for hybrid systems with heatset.

    Constructed and tested according to international standards
    Quality and performance of the UNISET are more than mere promises. manroland web systems bases its work on the directives of internationally recognized quality standards. The presses also comply with the European safety standards. In addition, WAN-IFRA has certified repeatedly that UNISET presses comply with the IFRA quality standards.

    Conclusion
    The UNISET is designed and constructed in Augsburg, Germany, based on the same criteria as a COLORMAN. It is therefore increasingly a suitable option for European printing houses as a commercially viable means of production. The web width variability that is practically available free of charge with single-width designs can be a key purchase argument.
     
    04.11.2014   BillerudKorsnäs invests for growth in sack paper markets    ( Company news )

    Company news BillerudKorsnäs continues to act according to their growth agenda. This time with an investment of SEK 260 million at their production unit in Skärblacka that will increase the volume and improve the quality of sack papers produced there.

    The BillerudKorsnäs Board of Directors has approved a SEK 260 million investment for sack paper machine 9 at the Skärblacka production unit. The investment will further add to the quality leadership of the BillerudKorsnäs sack paper range and will also increase the capacity of the machine by 20 000 t/a up to 180 000 t/a. The investment is a part of the growth agenda Selective Growth for BillerudKorsnäs Business Area Packaging Paper.

    Paper machine 9 produces high quality brown sack papers that are used for the construction of sacks primarily for packaging of cement, other construction minerals and chemicals. Most of these papers are sold in emerging markets outside of Europe.

    - We see strong potential for our sack papers in South East Asia, where our sack paper brand QuickFill is a quality leader. In those regions, cement and other construction minerals are very often packed in plastic sacks. Sacks made out of our material offer the brand owner large benefits when it comes to production economy, but also when it comes to sustainability and health – says Johan Nellbeck, SVP Packaging Paper.

    The investment includes the head box and wire section of the paper machine and it will be carried out during 2015. For BillerudKorsnäs, the investment is an outcome of the asset review that has been conducted. It is an important step in the development of the Skärblacka production unit and follows after successful investments in energy and environment since 2012.

    As previously communicated, the BillerudKorsnäs capex levels for 2015 and 2016 will be above the depreciation level.
    (BillerudKorsnäs Skärblacka AB)
     
    04.11.2014   Catalyst Paper Corporation to purchase paper mills in Maine and Wisconsin    ( Company news )

    Company news Catalyst Paper Corporation (TSX: CYT) (“Catalyst” or the “Company”) announced that it has entered into an Asset Purchase Agreement (the “Agreement”) with NewPage Corporation, NewPage Wisconsin System Inc. and Rumford Paper Company (the “Sellers”) to purchase the Biron paper mill located in Wisconsin and the Rumford pulp and paper mill located in Maine, USA (the “Paper Mills”) for consideration of US$74.0 million, subject to certain adjustments (the “Transaction”).

    Catalyst intends to finance the acquisition through a combination of advances under its revolving asset-based credit facility (the “ABL Credit Facility”), the maximum amount of which is to be increased in connection with the Transaction. To provide additional working capital following the consummation of the Transaction, Catalyst also intends to effect a US$25.0 million offering of additional PIK Toggle Senior Secured Notes (“Additional PIK Toggle Notes”), which would form part of the same series as Catalyst’s outstanding PIK Toggle Senior Secured Notes (the “PIK Toggle Notes”).​

    Completion of the Transaction is subject to customary closing conditions, including the completion of the previously announced acquisition by Verso Paper Corp. of NewPage Holdings Inc. (the “Verso Transaction”), the execution of a transition service agreement, materials and service supply agreements, and certain other ancillary agreements relating to the Transaction, and certain regulatory approvals. There is no financing condition to Catalyst’s obligation to consummate the Transaction. The Agreement may be terminated by the Sellers and Catalyst in certain circumstances, including upon or at any time following the final uncontested termination of the Verso Transaction.

    “With this Transaction, Catalyst will be better able to serve new and existing customers through operational synergies and a more diversified and higher value suite of products,” said Joe Nemeth, President and CEO of Catalyst.

    “Our acquisition of these U.S. pulp and paper mills, once complete, will support our efforts to improve our balance sheet and enhance the Company’s long-term competitiveness,” added Nemeth.

    If the Transaction is completed, the addition of the Paper Mills is expected to increase Catalyst’s production capacity by approximately 65 per cent or 995 thousand tonnes per year. The Biron Wisconsin mill has 355 thousand tonnes capacity for lightweight coated and ultra-lightweight coated paper. The Rumford Maine mill has 510 thousand tonnes paper capacity for coated specialty, coated freesheet and coated groundwood paper, and 130 thousand tonnes Kraft market pulp capacity to produce both hardwood and softwood pulp. Efficiencies are expected to be gained as overhead costs will be distributed over a larger production base. Access to new markets and business opportunities is anticipated.

    Based on unaudited historical financial summaries prepared by the Sellers, the Paper Mills achieved total sales of US$782.2 million for the twelve months ended September 30, 2014 and US$787.1 million for the twelve months ended December 31, 2013. Total mill contribution was US$29.5 million and normalized mill contribution was US$45.6 million for the twelve months ended September 30, 2014, compared to US$72.4 million for mill contribution and normalized mill contribution for the twelve months ended December 31, 2013. Mill contribution is a non-U.S. GAAP measure of mill operating performance defined as total sales minus the cash cost of goods sold. Mill contribution was normalized for the twelve months ended September 30, 2014 for the adverse impact of extreme weather conditions and market curtailment. These figures do not include sales, general and administrative expenses which are estimated to be approximately US$10.0 million per year. Capital spending for the two mills is expected to be similar to that of our Canadian mills, approximately US$7.0 million per facility per year.
    (Catalyst Paper Corporation)
     
    04.11.2014   Agfa Graphics’ New Anapurna M2500i Global Debut at SGIA 2014    ( Company news )

    Company news The enhanced Anapurna i-series offers high productivity and quality

    Agfa Graphics announced the worldwide launch of the new Anapurna M2500i with optional automated board feeder (ABF). It has been demonstrated at the Agfa Graphics booth #2019 at SGIA 2014 in Las Vegas (USA) October 22-24. The Anapurna M2500i is the most recent i-series introduction, offering printing systems with higher productivity and quality.

    The Anapurna M2500i is a 98-inch (2.5 m) wide, 6-color plus white UV-inkjet printing system with an automated board feeder (ABF) designed for sign shops, digital printers, photo labs and graphic screen printers. The M2500i is ideal for indoor, outdoor and niche applications such as art reproductions, mouse pads, DVDs, wood, architectural and interior decorations, lenticular displays and more.
    “We are committed to helping print service providers use technology to offer their customers the widest range of print products they possibly can. We are determined to develop the technology that can help PSPs take concepts to reality in the most efficient and cost-effective ways possible,” said Willy Van Dromme, Director of Marketing Inkjet Systems, Agfa Graphics.
    The system features robust engineering for sustained higher workloads. The Anapurna M2500i offers increased print throughput while also achieving a high level of print quality. It prints on rigid and flexible media including boards/sheets, roll-to-roll and roll-to-sheet. Multiple boards or borderless printing increases productivity even more. The system’s automated board feeder also increases productivity by allowing for volume printing of small board sizes (up to five boards can be printed in parallel).
    The Anapurna M2500i features six Konica-Minolta KM 1024i Grayscale print heads for color and two KM 1024i heads for white. It prints at a maximum resolution of 1,440 x 720 dpi and has a maximum speed of 1,238 ft²/hr (115m²/hr).
    (Agfa Graphics NV Zweigniederlassung Düsseldorf)
     
    04.11.2014   Mimaki brings print production creativity to Viscom Frankfurt 2014 and My Mimaki Days ...    ( Company news )

    Company news ... events in Germany

    Mimaki, a leading manufacturer of wide-format inkjet printers, is continuing its Pan-European showcase: Let’s Create… Together. The company will be bringing its vaunted print production creativity to Viscom Frankfurt 2014, Germany, from November 5 to 7, 2014, and holding a variety of My Mimaki Days events throughout Germany in October and November.

    In Hall 3 on stand C31/D31, Mimaki’s newly-launched solutions, developed in response to emerging market needs, will highlight how adopting new technology can benefit businesses by supporting existing market segments and addressing new possibilities.

    “The print production environment has become so diverse that it is understandable how companies can be tempted to stand on the sidelines to watch how opportunities develop, unsure of how or when they can or should transform their own fortunes,” comments Mike Horsten, General Manager Marketing EMEA, Mimaki Europe B.V. “However, you can’t stand on the sidelines for too long without falling behind the competition and disappointing customers. That is why our portfolio of solutions is constantly evolving to address new and developing market opportunities. At the same time, we provide systems that help operations cost-effectively harness any commercial advantage that is possible, whether they are small or large, and no matter what their segment.”

    The Viscom revelation
    The new CJV300-130/160 inkjet printer/cutter was created to do just that. Premiered in Europe at Viscom Paris 2014, it brings simultaneous print/cut operations to this class of printer for the first time, at a print speed of up to 105.9 square meters per hour. Its two newly-developed staggered printheads deliver a wider print swath and ink drops ranging from 4 pl to 35 pl for beautiful, high-resolution printing. Continuous register mark detection enables the continuous cutting of an entire roll of media while simultaneously taking up unrolled media. Zero margin register marks reduce media consumption by eliminating the margins between register marks, for less waste of often-costly media.

    Also new to Mimaki’s technologically responsive and quickly expanding family of solutions, and available in spring 2015, is the functional entry-level Mimaki CJV150 inkjet printer/cutter. It operates at up to 56.2 square meters per hour. And the Mimaki JV150 inkjet printer, featuring solvent and water-based sublimation inks, is capable of creating a wide range of print applications, including indoor decorations, posters, shop or event decorations, and vehicle-wraps. Quick-drying SS21 orange and light black inks are available for both printers.

    “These two printers were unveiled at Viscom Italia and were received enthusiastically by attendees,” Horsten adds. “They demonstrate Mimaki’s dedication to developing leading-edge solutions for the signage and large format sectors. They also reflect our ability to deliver market-tailored solutions that enhance the creativity of our customers and their ability to deliver exceptional results, allowing them to work effectively and profitably in these demanding market sectors.”

    My Mimaki Days
    In conjunction with Viscom Frankfurt, Mimaki is rolling out My Mimaki Days across Germany in October and November. These events will be held in Hagen October 22 to 23; and Herrsching, October 27 to 28. In November, the events will be held in Berlin, 12 to 13; Hamburg and Burg Seevetal, 13 to 14; Rostock, 18 to 19; and Hagen, 24 to 26.

    My Mimaki Days is a new concept that offers a customized program for each customer’s particular interests, ranging from replacing a legacy system with new printing techniques to helping them expand their current offerings. Events are planned to cover:
    - Economic pressures and new applications with UV - LED wide-format printers,
    - Print and production of banners and promotional items,
    - ‘Print & Cut’ with flatbed printers and laser,
    - Vehicle wraps, and
    - When to use of different types of ink including UV, SUV and latex.

    Horsten concludes: “The variety of topics addressed is always a major draw for My Mimaki Days. There is something for everyone, since the issues covered touch on all of today’s primary pain points for companies seeking to offer an increasingly creative portfolio of services.”

    This year, Mimaki Germany is celebrating five years of operation as Mimaki Germany GmbH, with 26 employees in Herrsching and Hagen. Shoji Midorikawa, Director Sales & Marketing Mimaki Germany GmbH, says, "My Mimaki Days are a great way of further supporting our customers and helping them see where they can make changes that will benefit their businesses. The German market in particular is seeing a growing demand for higher quality, and we expect the introduction of the new inkjet printing systems JV33 / CJV30, JV300 and CJV300, as well as new inks, to address this demand. But we are also ready, willing and able to help companies take a deeper look at the broader business and production challenges they face to help them identify solutions to those issues while also enabling new opportunities.”
    (Mimaki Europe B.V.)
     
    04.11.2014   UV and EB are established core curing technologies – but are completely ...    ( Company news )

    Company news ... safe for use on food packaging print?

    Food Packaging Seminar Report by RadTech Europe

    The perfect recipe for radiation curing for food packaging has not yet been proposed or defined by the EU legislators. All that exists today are the GMP and Framework Regulation, as well as Swiss Ordinance, respected and now widely adopted across the food packaging supply chain, but still something less than the definitive answer. This situation was the driving force behind the Food Packaging Seminar held in Stuttgart in September by RadTech Europe, the regional association promoting the radiation curing technologies across all markets. The event drew together around 90 participants – all experienced specialists from the various disciplines related to the food packaging value chain (raw materials, printing inks, equipment, materials, and brand owners) -- to discuss and debate the proper use of radiation curing in food-safe printing, with the aim of enabling this technology -- which delivers a broad platform of benefits -- to achieve its well-deserved maximum potential.

    Market overview
    Stephen Harrod, author of many specialist market reports for Smithers Pira on aspects of packaging and print, set the scene with an overview of the global packaging market and its current ‘megatrends’. He forecast 2014 growth in the revived global economy at ±3.5%, and annual global growth to 2018 at 4%. Food packaging – a €55 billion market in 2013 – will, he said, show 2.1% real annual growth to 2018, led by the meat, fish and poultry; chilled foods (including ready meals); and fresh food and vegetable sectors. UV curing, in this dynamic environment, has much to offer: good environmental credentials (no VOCs or solvents); fast turnaround; and high performance. Barriers to its use are currently cost – in terms of inks, varnishes, and energy usage; perceived lack of ease of use; heat from standard UV lamps; healthcare ‘scares’ involving migration of print through the packaging substrate; and recycling challenges.

    Summarising, Mr Harrod drew attention to the strong growth in inkjet print. UV inkjet is already enjoying a CAGR of 14.8%, and there are considerable and continuing refinements in the technology base – printheads, inks, curing systems, android integrations, and presses. ‘Packaging is a great opportunity’, said Mr Harrod, for this versatile print technology.

    The applied chemistries
    Francis Bergiers, technical service and development specialist at Allnex, then provided a comprehensive overview of the applied chemistries involved in printing and packaging. The partner UV and EB curing inks must deliver viscosity, pigment wetting, cure speed, adhesion, flexibility, scratch resistance; and resistance to chemicals such as solvents. For food packaging print, additional requirements are low odour, no taste transfer, and low migration. All this must come, he underlined, at an acceptable price. Mr Bergiers highlighted recent innovations with particular relevance for food packaging, such as self-curing acrylates; acrylates that deliver higher purity; acrylates with an improved compromise between high molecular weight and viscosity; and the ability to achieve higher acrylate functionality whilst using lower viscosity systems.

    ‘Think like a food company!’
    With the technology base clearly explained, it was time to hear from the customer: Dr Stephen Klump, Global Head of Packaging Quality and Safety, for Nestlé. His subject was ‘Managing Risk’. He outlined the many risks associated with the many different materials which come into contact with food items. Conveyor belts, plastic moulds, pipes and hoses are among the risks involved in food processing; and packaging materials – paper, board, plastic, metal, glass, coatings, inks, and adhesives -- are risks to finished or semi-finished products, as are a host of auxiliary items, such as straws, ice cream sticks, drinks dispensers.

    Dr Klump said that ‘consumers are very aware that there are problems out there with their food’ – highlighting the recent horsemeat scandal, and reminding participants that governmental, NGO, and media coverage means that the consumer focus ‘goes viral’. In such a complex supply chain, involving many specialist suppliers of chemicals and raw materials as well as converters, packers, brand owners, and retailers, a publicly- identified safety problem can have serious consequences for a brand. Nestlé’s outstanding and continuing commitment to mitigating such brand risk through its packaging safety and compliance programme is long-established and proven, and Dr Klump adjured the assembled seminar participants to join him and ‘think like a food company’.

    The Nestlé CoC
    Suppliers across the value chain do not always deliver what they promise. If there is a problem, he said, it is the supplier’s responsibility to ‘find out before someone else finds out for you’. He listed the problems his company has experienced in the packaging arena since 1991 – a list which, of course, includes mineral oils, BPA and ITX, and odour issues. He detailed an agenda through which suppliers can ensure that they perform to the standards of the Nestlé certificate of compliance, in parallel with EU and FDA regulations and directives. All the CoC’s requirements are clearly and transparently communicated to the supplier base, and all are regularly updated.

    Testing and legislation
    The next seminar session focussed on the current status of legislation and testing, and the opportunities and threats they represent. Dr Andreas Grabitz, technical and legal expert at Eurofins Consumer Product Testing, presented two scholarly and instructive papers: the first on the principles and specialities of analytical testing of UV inks and coatings in a variety of situations; and the second on the extant diverse legal requirements relating to food packaging from a safety viewpoint, including detail on the Swiss and upcoming German Ordinances.

    European Printing Inks Association’s viewpoint
    Putting the science into action was the topic addressed, appropriately, by the Chairman of the European Printing Inks Association’s Energy Curing Work Group, Nick Ivory, who is also Technical Director of Sun Chemical. EuPIA is actively supporting the ongoing use of energy curing products in food packaging print. In this regard, he welcomed the work being done by various acrylate and photoinitiator suppliers on Dossiers for submission under the Swiss and German Ordinances, a move that will help establish more lenient migration limits for common photoinitiators and acrylates. This initiative is supported by EuPIA by supplying migration data. After detailing all the practical concerns and issues, he expressed the difficulties the industry has in pinpointing the correct way forward in the imprecise legal framework. ‘In the absence of recognised EU legislation’, he remarked, ‘it’s a bit like global warming!’ He concluded, however, that energy-curing products CAN safely be used in food packaging scenarios as long as their suitability is fully assessed.

    Low-migration inkjet inks
    Dr Marc Graindourze of Agfa Graphics focussed on low-migration inkjet ink technology for printing food packaging which, he said, is offering a whole new raft of possibilities for today’s brand owners, and is also environmentally friendly. Opportunities include mass customisation, just-in-time printing, promotions, and variable data printing – all using a print technology that is versatile, fast, reliable, and whose setup can be customised for specific applications. Agfa Graphics’ low-migration ink technology is delivering a printed result that is ‘testing positive’ for eliminating migration and set-off in a variety of food and pharmaceutical packaging applications and is a solution for direct print on to a packaging substrate – a coming solution, he said, because adding a label to packaging involves three steps, whereas direct print takes just one. The new Agfa Graphics inks will, Dr Graindourze concluded, constitute an element in an integrated system involving partnership along the supply chain.

    The carton industry speaks
    BPIF Cartons’ Technical Director, John Wilson, who is also Product and Applications Manager at Sun Chemical, completed the formal programme with a view from the mainstream packaging industry on the safe use of radiation curing. Printers in the food packaging arena choosing to take the radiation-cured low-migration inks route are facing a number of new challenges – and many questions for which they need answers both from their brand owner/retailer and their own suppliers. The BPIF are actively supporting their members with the creation of a low migration questionnaire which they can use with their suppliers as a discussion document, creating a technical focus at meetings, and exploring the new ‘barrier boards’ that the board mills are now introducing to the market. Mr Wilson admitted that BPIF Cartons are also closely following the Nestlé and EuPIA guidelines – proof that, in an industry sector where there is still no legislative clarity, the supply chain is taking the initiative and creating its own consensus.

    Summing up
    General Secretary Mark Macaré concluded that the RadTech Europe seminar ‘brought the industry closer to achieving full clearance for UV/EB curing in the food packaging segment.’
    (RTE RadTech Europe Office)
     
    04.11.2014   ANDRITZ receives order for extensive rebuild of Stora Enso's Varkaus mill, Finland    ( Company news )

    Company news International technology Group ANDRITZ has received an order from Stora Enso to rebuild the fiberline, evaporation plant, recausticizing plant, recovery boiler, and recycled fiber plant at the Varkaus pulp mill, Finland. Start-up is scheduled for the fourth quarter of 2015.

    The order is part of Stora Ensoʼs project to convert an existing fine paper machine to a containerboard machine as well as to increase capacity and energy efficiency of the pulp mill. The scope of supply includes:
    -Conversion of the fiberline to produce high-Kappa unbleached pulp, including modernization of cooking, brown stock washing, and screening systems, as well as delivery of a new blowline and new reject refiners
    -Supply of two new evaporator units, replacement of the existing evaporator lamellas in two evaporator units, and installation of a new methanol liquefaction system
    -Supply of a new LimeDry lime mud disc filter for the recausticizing plant, which will improve cleanliness and the working environment at the plant
    -Rebuild of the complete recycled fiber plant, including modernization of the ANDRITZ FiberFlow drum pulper and coarse screening plant, as well as delivery of a new screw press
    -Replacement of the boiler bank tubes in the recovery boiler and installation of a new CNCG-burner (Concentrated Non Condensable Gas)
    (Andritz AG)
     
    03.11.2014   Industry veteran brings nearly 30 years of regional experience to new role     ( Company news )

    Company news Xeikon, an innovator in digital color printing technology, announces that industry veteran Bent Serritslev has joined the company as Managing Director Xeikon Asia Pacific (ASPAC) to manage the company’s continuing growth in this dynamic region.

    Bent Serritslev, who assumed the role on October 1, studied at Copenhagen Business School and has since spent 33 years in the printing industry, of which 29 have been in Asian locations, including Hong Kong, Thailand, India, Malaysia and Singapore. Previous roles representing Gallus, Mark Andy and Heidelberg have enabled him to build up a substantial knowledge in the fields of both labels & packaging and commercial print, and to build significant relationships with key players in the region.

    “We see an unprecedented growth in the Asia Pacific printing industry. The global need for brand integrity and consistency is also in that region reflected in the requirement for enhanced print production capabilities. This means that both brand owners and printers will increasingly turn to digital production methods,” comments Wim Maes, Xeikon CEO. “Xeikon’s digital solutions offer the flexibility, quality and creativity customers in this region are looking for to help them stay ahead of developing trends. We have already enjoyed great success with our partners in Asia Pacific and are looking to extend that success even more with Bent. His profound experience and knowledge of both the region and the industry makes him the ideal leader for our expert team.”

    "I enjoy working with printers and converters, and want to understand what their challenges are and where the market opportunities lie,” Serritslev states. “I’m dedicated to help them offer the best service possible to support their current clients and further grow their customer base. I’m very excited to join Xeikon in this role and to leverage its heritage of innovation in the world of digital printing to benefit both current and prospective customers in the region. In my new role, I will oversee significant investments by Xeikon in its regional presence, including expanding the team and enhancing the current business infrastructure.”
    (Xeikon Manufacturing NV)
     
    03.11.2014   Kimberly-Clark Announces Details for Completion of Kimberly-Clark Health Care Spin-Off    ( Company news )

    Company news Kimberly-Clark Corporation (NYSE: KMB) announced the record date, distribution date and distribution ratio for the previously announced tax-free spin-off of its health care business. The spin-off will form the new publicly traded company, Halyard Health, Inc. Kimberly-Clark also increased its 2014 share repurchase program to take into account expected proceeds as a result of the spin-off.

    Photo: Thomas J. Falk, chairman and chief executive officer of Kimberly-Clark Corp.

    Kimberly-Clark shareholders will receive one share of Halyard Health common stock for every eight shares of Kimberly-Clark common stock held as of the close of trading on Oct. 23, 2014, the record date for the spin-off. Kimberly-Clark shareholders will receive cash in lieu of any fractional shares. The spin-off is expected to be effective as of the end of the day on Oct. 31, 2014, the distribution date for the spin-off, with 100 percent of the shares of Halyard Health distributed to Kimberly-Clark shareholders.

    Before completion of the spin-off, Halyard Health expects to make a one-time cash payment to Kimberly-Clark. As a result, Kimberly-Clark is increasing its 2014 share repurchase target to $2 billion, up from its previous plan of $1.3 to $1.5 billion.

    "The spin-off will let Halyard Health pursue its own value-creation opportunities as a focused healthcare company," said Thomas J. Falk, chairman and chief executive officer of Kimberly-Clark Corp. "Looking ahead, we continue to be optimistic about our prospects to deliver strong returns to shareholders through successful execution of our Global Business Plan."

    Halyard Health has applied to list its shares on the New York Stock Exchange (NYSE) under the symbol "HYH." Kimberly-Clark expects that a "when-issued" public trading market for Halyard Health common stock will begin on the NYSE on or about Oct. 21, 2014, under the symbol "HYH WI" and will continue through the distribution date. Halyard Health common stock is expected to begin "regular way" trading on the NYSE on Nov. 3, 2014, the first trading day following the distribution date.

    No action is required by Kimberly-Clark shareholders to receive shares of Halyard Health common stock in the spin-off. Beginning on or about Oct. 21, 2014, through the distribution date, it is expected that there will be two ways to trade Kimberly-Clark common stock — either with or without the right to receive Halyard Health common stock in the spin-off. Investors are encouraged to consult with their broker and financial and tax advisors regarding the specific implications of buying or selling Kimberly-Clark common stock on or before the distribution date.

    The spin-off and the distribution of Halyard Health stock is subject to the U.S. Securities and Exchange Commission (SEC) having declared effective Halyard Health's registration statement on Form 10. In addition, the spin-off is subject to conditions set forth in a Distribution Agreement between Kimberly-Clark and Halyard Health, the form of which is filed as an exhibit to Halyard Health's registration statement on Form 10.
    (Kimberly-Clark Corp.)
     

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    Corrugated boards
    Household and sanitary paper goods
    Household and sanitary papers for converting
    Office and exercise goods, general stationery
    Other converted paper and board products
    Paper and board for technical use
    Paper rolls all kinds
    Papers all kinds
    Papers and boards; coated, laminated, impregnated
    Papers for packaging use
    Printing, fine and writing board
    Printing, fine and writing papers
    Pulps and mechanical groundwood pulps
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