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    06.08.2014   AVERY DENNISON RAPID-ROLL OPENS TEA INDUSTRY FOR NARROW WEB CONVERTERS    ( Company news )

    Company news Picture: Avery Dennison Rapid-Roll opens tea industry for narrow web converters. (Photo: Avery Dennison, PR238)

    With the rising global demand for tea and the launch of more specialist teas, producers are looking for converters who are able to provide unique packaging solutions that preserve the flavour of their teas and enable their brand to stand out. Avery Dennison is helping narrow-web label converters access this important new market, with a flexible packaging portfolio of short-run, quick turnaround non-adhesive paper and films.

    Single-serve tea portions are a notable packaging trend, reflecting demand from restaurants and bars, and consumption of flavoured and private label teas. Ralph Olthoff, segment leader Rapid-Roll at Avery Dennison, says the Rapid Roll portfolio allows converters to offer new packaging solutions as a viable alternative to larger-scale wide-web productions. “We are seeing an increasing demand for lower quantities and faster deliveries of tea products, and this is an arena where narrow-web converters perform best. Our Rapid-Roll portfolio is designed to give converters quick access to the minimum order quantities they need, without having to maintain high stock levels, and it includes the entire range of barrier properties needed for different flexible packaging applications as well as offering exceptional print qualities”, Olthoff continues.

    Individual tea bags – often called ‘envelopes’ – have to deliver more than visual appeal. Tea is a sensitive product that needs to be protected from moisture, oxygen and UV. The perfect tea envelope is one that entices the consumer and keeps the contents fresh.

    Rapid-Roll flexible packaging options range from a simple paper construction to constructions with a layer of aluminium, metalized PET or metalized PP. All materials are printable in rotogravure, letterpress, UV Flexo, UV Offset and digital.
    (Avery Dennison Label and Packaging Materials Europe)
     
    06.08.2014   Tembec reports financial results for its third quarter ended June 28, 2014    ( Company news )

    Company news Consolidated sales for the three-month period ended June 28, 2014, were $404 million, as compared to $399 million in the same quarter a year ago. The Company generated net earnings of $30 million or $0.30 per share in the June 2014 quarter compared to a net loss of $7 million or $0.07 per share in the June 2013 quarter. The June 2014 results include a gain of $14 million related to the sale of land. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $30 million for the three-month period ended June 28, 2014, as compared to adjusted EBITDA of $30 million a year ago and adjusted EBITDA of $18 million in the prior quarter.

    Business Segment Results
    The Specialty Cellulose Pulp segment generated adjusted EBITDA of $19 million on sales of $126 million for the quarter ended June 2014, compared to adjusted EBITDA of $18 million on sales of $128 million in the prior quarter. Demand for specialty grades was flat while US and euro prices were relatively unchanged quarter-over-quarter. The prior quarter sales included a $2 million favourable adjustment for volume penalties paid by customers relating to the calendar 2013 period. Currency was unfavourable during the quarter as the Canadian dollar strengthened by 1.1% versus the US dollar and the euro. Overall, Canadian dollar equivalent pricing for specialty grades declined by $77 per tonne. US dollar prices for viscose grades also declined. Combined with the unfavourable currency effect, prices declined by $51 per tonne. The viscose market remains oversupplied and prices are relatively low. Overall, pricing reduced adjusted EBITDA by $4 million. Shipments were equal to 80% of capacity as compared to 81% in the prior quarter. Costs declined by $3 million due to the reversal of net realizable value write-downs as the Temiscaming mill shipped more viscose grade pulp than it had produced. Higher profitability in the chemicals business increased adjusted EBITDA by a further $2 million. The Specialty Cellulose Pulp segment generated operating earnings of $15 million, unchanged from the prior quarter.

    The Forest Products segment generated adjusted EBITDA of $5 million on sales of $108 million for the quarter ended June 2014, compared to adjusted EBITDA of $3 million on sales of $112 million in the prior quarter. Lumber shipments were equal to 84% of capacity versus 83% in the prior quarter. During the quarter, the random length lumber reference price declined by US $24 per mbf while the reference price for stud lumber increased by US $11 per mbf. The gap between the two grades narrowed as expected. Currency was unfavourable as the Canadian dollar averaged US $0.917, a 1.1% increase from US $0.907 in the prior quarter. The net effect decreased sales and adjusted EBITDA by $1 million or $6 per mbf. Costs decreased by $4 million. The spring and summer months are also seasonally lower operating cost periods. The Forest Products segment generated operating earnings of $4 million, compared to operating earnings of $1 million in the prior quarter.

    The Paper Pulp segment generated adjusted EBITDA of $3 million on sales of $102 million for the quarter ended June 2014, compared to adjusted EBITDA of $2 million on sales of $62 million in the prior quarter. Market conditions for paper pulp remained relatively weak although demand was stable. Pulp shipments were equal to 117% of capacity as compared to 70% in the prior quarter. Export shipments in the prior quarter were negatively impacted by winter storms that led to delays and congestion at several East Coast ports normally utilized by the Company. The shortfall in shipments was made up in the June 2014 quarter. The benchmark price (delivered China) for bleached eucalyptus kraft (BEK) decreased by US $49 per tonne. However, this decline did not impact US $ high-yield pulp prices. Currency was unfavourable as the Canadian dollar strengthened during the quarter. Average selling prices declined by $12 per tonne, reducing adjusted EBITDA by $2 million. Manufacturing costs decreased by $3 million, primarily due to lower fibre costs. The Paper Pulp segment generated operating earnings of $1 million, compared to an operating loss of $1 million in the prior quarter.

    The Paper segment generated adjusted EBITDA of $8 million on sales of $89 million for the quarter ended June 2014, compared to negative adjusted EBITDA of $1 million on sales of $84 million in the prior quarter. The coated bleached board market improved slightly. The shipment to capacity ratio was 96% compared to 94% in the prior quarter. The US $ benchmark price for coated bleached board increased by US $32 per short ton. Currency was negative as the Canadian dollar strengthened during the quarter. Overall, average selling prices for coated bleached board were unchanged quarter-over-quarter. Bleached board costs increased by $1 million, primarily for freight. The newsprint market remained weak with continued decreases in North American demand. The shipment to capacity ratio was 89% compared to 81% in the prior quarter. The US $ benchmark price for newsprint was unchanged at US $605 per tonne. The stronger Canadian dollar resulted in a $7 per tonne decline in newsprint realizations. Manufacturing costs at the Kapuskasing newsprint mill decreased by $10 million, primarily for energy. The prior quarter’s costs had been negatively affected by the abnormally cold weather that led to a shortage of natural gas, which in turn caused significant increases to the cost of purchased electricity in the Province of Ontario. The newsprint mill also took six days of unplanned downtime in the prior quarter to mitigate the impact of the higher electricity rates. The Paper segment generated operating earnings of $7 million, compared to an operating loss of $2 million in the prior quarter.

    BC Land Sales Initiative
    The Company continued with its BC Land Sales Initiative. The objective is to realize up to $70 million in gross proceeds by December 2014. During the June 2014 quarter, the Company completed three land sales for proceeds of $16 million, bringing total sales to date to $39 million. The Company also has an agreement to sell additional parcels for $20 million. The transaction is conditional on the purchaser obtaining adequate financing. There can be no assurance that the transaction will be consummated or that the Company will attain its stated objective.

    Temiscaming Cogen Project Update
    The Company had previously indicated that the total construction cost of the project would be approximately $235 million. Updated projections now indicate that approximately $255 million will be required to complete the project. The overrun is largely due to higher labour costs. The initial estimate contemplated total labour man-hours of 810,000. To the end of June 2014, labour man-hours had reached 775,000 and projections indicate a further 152,000 man-hours will be required to complete the construction work, for a projected total of 927,000 man-hours. As a significant portion of the additional man-hours relate to higher cost specialized trades, the fully-loaded cost per man-hour is forecasted to be 7% higher than originally planned. The boiler erection is essentially completed and the remaining work will focus on piping, insulation and electrical work. The commissioning of several ancillary systems has begun and will accelerate as the summer progresses. The turbine was originally scheduled to produce contract power by mid-October 2014. This is now expected to occur in late-November 2014, a delay of approximately five weeks.

    Outlook
    Overall, the June 2014 quarterly results were better than anticipated. After experiencing relatively harsh winter conditions in the March 2014 quarter, all four business segments benefited from higher productivity and lower costs. This more than offset the negative effect of a stronger Canadian dollar and lower selling prices. The Specialty Cellulose segment results improved by $1 million due to lower costs at both pulp mills. The decline in specialty pulp prices was expected as the prior quarter had benefited from customer minimum volume penalties. The current quarter reflected the full impact of the lower contract prices that came into effect in January 2014. Prices for viscose grade also dropped in the most recent quarter. This market remains oversupplied and US $ prices are relatively low. Market conditions should remain at this level for the remainder of the calendar year. The improved results in the Forest Products segment were also driven by lower costs as the spring and summer months are normally lower cost periods for the sawmills. Stud lumber prices increased, closing the gap with random lumber as the latter declined. We anticipate similar results in the coming quarter. The Paper Pulp segment results saw a small improvement in profitability due to lower costs. The segment was able to make up for the weather related shortfall in shipments from the prior quarter. The new South American hardwood paper pulp capacity is impacting prices and we anticipate marginal profitability from this segment until the market absorbs this new capacity. The Paper segment rebounded well from what had been a very challenging March quarter, which was impacted by high prices for natural gas and electricity. The coated bleached board market is stable, but the export market for newsprint, on which North American producers are placing greater reliance, is under pressure.

    The Company is looking forward to completing the construction of the Temiscaming, QC, specialty cellulose Cogen project in the coming quarter. While the total estimated cost has increased, the project remains a critical element that will materially improve the mill’s cost structure and margins. The Company is placing significant emphasis on training and commissioning in order to ensure a successful start-up of the boiler and turbine. The Company is also looking to complete the BC Land Sales Initiative. To date, $39 million has been realized and the Company will be focused on generating additional land sales in order to reach its $70 million objective.
    (Tembec Inc.)
     
    06.08.2014   Portucel Soporcel Group launches new Navigator Home Pack    ( Company news )

    Company news Navigator focuses on families with new product tailored to home users

    Navigator Home Pack is the new product from the world's best-selling premium office paper brand, especially designed and tailored for domestic users.
    In order to reach out to the home users’ market, Navigator has made the packaging lighter and easier to carry by reducing the number
    of sheets per pack, down from the traditional 500 to 250, as well as adapting its image to suit the home environment.
    Navigator Home Pack encourages consumers to be creative in finding new ways of using paper, and stands out at points of sale thanks to its easygoing communication style.
    The packaging design has been developed to illustrate a home environment, with more appealing colours, encouraging modern consumers of office paper to start using a premium product at home.
    This new addition to the Navigator range will enable the brand to communicate directly with a target group that prefers convenience and value for money, without sacrificing the brand's high quality standards, all of which they will have access to with Navigator Home Pack.
    “Navigator Home Pack is our response to changing consumer trends, in particular the increasing affordability of colour printing equipment, including home users. This means that paper quality has become more important, as contemporary consumers demand higher quality, even for their personal documents", explained Ricardo Ferreira, Navigator Brand Manager.
    (Soporcel-Sociedade Portuguesa de Papel SA)
     
    06.08.2014   Sappi results for quarter ended June 2014 highlights continued year-on-year improvement in ...    ( Company news )

    Company news ... performance

    Summary for the quarter
    -Continued year-on-year improvement in quarterly performance
    -Usutu and Nijmegen Mill transactions completed
    -Specialised Cellulose business remains sold out
    -EPS 3 US cents (Q3 2013 loss of 9 US Cents)
    -EBITDA excluding special items US$140 million (Q3 2013 US$88 million)
    -Net debt US$2,286 million (Q3 2013 US$2,331 million)

    Commenting on the result, Sappi Chief Executive Officer Steve Binnie (photo) said:
    It is pleasing to note that the group has continued the trend of improving year-on-year performance, with EBITDA excluding special items of US$140 million, operating profit excluding special items of US$67 million and profit for the period of US$17 million.
    The European business had a solid quarter in a seasonally slow period, with lower variable and fixed costs arising from cost cutting initiatives offsetting weaker graphic paper prices. Demand for coated woodfree paper was stable, but coated mechanical paper continues to be weak.
    The North American business was impacted by a number of planned and unplanned outages at the pulp mills, as well as a continuation of the weak pricing in the coated paper markets. Price increases for coated woodfree web paper were announced during the quarter and this will bring some relief to a difficult market in the fourth financial quarter.
    The Southern African paper business improved on the prior quarter performance due to lower fixed costs, whilst variable costs were negatively impacted by the weaker Rand.
    The Specialised Cellulose business had a reasonable quarter, impacted by the planned annual maintenance shut at the Cloquet Mill. As expected, dissolving wood pulp prices experienced increased downward pressure due to weaker viscose staple fibre prices. Strong shipment volumes contributed towards an EBITDA excluding special items of US$70 million.
    Capital expenditure for the full year is expected to remain below US$300 million and with the proceeds of the Usutu sale and positive cash generation expected in the fourth quarter, we anticipate net debt to end the year close to US$2 billion.
    The fourth quarter is a seasonally stronger quarter and we believe that the result for the quarter will continue the trend of improved year-on-year quarterly performance which we have experienced throughout 2014.

    The quarter under review
    During this seasonally slow quarter in Europe, overall sales volumes were approximately 2% lower year-on-year, with growth in speciality paper volumes and stable coated woodfree volumes. The coated mechanical market remains weak, both domestically and globally. Savings in variable, fixed and logistics costs enabled the business to improve the year-on-year performance despite the lower sales prices. An agreement was reached to dispose of the Nijmegen mill to an affiliate of the American Industrial Acquisition Corporation (AIAC). The mill will now manufacture packaging paper and will no longer be engaged in the coated graphic paper business beyond a 6 month transition arrangement for 52,000 tonnes.
    The graphic paper markets in North America continued to be characterised by weak pricing during the quarter, whilst our volumes were flat year-on-year. Price increases for web products were announced during the quarter and will improve our results going forward. The North American specialities business is experiencing improved sales to Europe, which is offsetting weaker Chinese markets.
    The performance of the Southern African business improved compared to the equivalent quarter last year; a quarter impacted by the conversion to dissolving wood pulp at Ngodwana. The increased dissolving wood pulp sales from Ngodwana, higher average Rand pricing for dissolving wood pulp and improved profitability from the paper packaging business all contributed to the improvement.
    Finance costs of US$42 million were slightly below those of the restated equivalent period last year.
    Earnings per share for the quarter were 3 US cents (including a gain of 1 US cent in respect of special items), compared to a loss of 9 US cents (including a charge of 3 US cents in respect of special items) in the restated equivalent quarter last year.
    Capital expenditure in the quarter declined to US$57 million compared to US$174 million a year ago, reflecting the completion of the expenditure on the dissolving wood pulp projects.
    Net debt of US$2,286 million increased by US$38 million compared to the prior quarter, mainly as a result of increased working capital. Proceeds from the sale of the Usutu assets for ZAR1 billion were received after quarter-end and will be utilised to reduce debt.

    Outlook
    The stronger than expected coated woodfree paper market, coupled with excellent ongoing cost control and focus, has led to steady progress in the European business, an important cash contributor to the group. Two important capital projects at Gratkorn and Kirkniemi are underway, allowing us to make further headway in improving the financial performance of this business.
    The North American business has experienced an extremely difficult year with cost and price pressures in graphic paper, inclement weather and some operational challenges. There are early signs that the graphic paper business will see improved returns with good volumes and higher pricing going forward. Management focus on cost and operations will aid further improvement.
    The South African paper packaging business continues to benefit from healthy demand due to a good fruit export season.
    Due to the competitive nature of the dissolving wood pulp market and weak viscose staple fibre pricing, we are experiencing continued pressure on our prices. However, demand remains strong and our mills are essentially sold out for the remainder of the year.
    (Sappi Limited)
     
    06.08.2014   BHS corrugating roll change – our service for your BHS Single Facer    ( Company news )

    Company news Corrugating rolls, the heart of your corrugator line.
    Only perfectly installed and adjusted corrugating rolls ensure long-term, outstanding board grades (ECT, FCT) and high production quality with the best machine availability.

    -Professional corrugating roll change by experienced BHS engineers.
    -Inspection and adjustment of all attached parts and components, such as prisms, seals and adjusting devices.
    -Engineers present during commissioning with subsequent commissioning and acceptance log.
    -Appraisal of existing rolls.

    Customer benefits:
    -Perfect adjustment of corrugating roll parameters, such as parallelism, offset value, clearances, etc. Thus laying the foundation for even glue application and outstanding sheet flatness.
    -Optimum corrugating geometry shape and very good test strengths of the corrugated board.
    -Increase the service life of BHS rolls by having them professionally installed.
    -Increase machine availability and operational reliability.
    (BHS Corrugated Maschinen- und Anlagenbau GmbH)
     
    05.08.2014   Rayonier Reports Second Quarter Results    ( Company news )

    Company news Rayonier (NYSE:RYN) reported second quarter net income attributable to Rayonier of $18 million, or $.14 per share, compared to $87 million, or $.67 per share, in the prior year period. The second quarter results include $12 million of net income from our discontinued Performance Fibers business, which was spun off on June 27, 2014, and $4 million of costs related to the spin-off. The prior period second quarter results included a $16 million gain1 related to the consolidation of the Company's 65 percent owned New Zealand joint venture (JV). Excluding these items, pro forma net income2 is $10 million, or $.08 per share, compared to $23 million, or $.17 per share, in the prior year period.
    For the first six months, net income attributable to Rayonier was $62 million, or $.47 per share, compared to $235 million, or $1.80 per share in the prior period. Pro forma net income was $23 million, or $.17 per share, compared to $62 million, or $.47 per share, in the
    prior year period.

    Photo: David Nunes, President and CEO

    Cash provided by operating activities was $226 million compared to $236 million in the first six months of 2013. Cash available for distribution (CAD)4 was $90 million versus $92 million in 2013.

    “We accomplished a significant strategic milestone in the second quarter with the successful spin-off of the Performance Fibers business into Rayonier Advanced Materials," said David Nunes, President and CEO. "At the same time, we continued to generate strong results with pro forma operating income5 of $56 million for the first half of 2014, up significantly from $38 million in 2013. In Forest Resources, we leveraged local market dynamics and unusually wet weather to realize higher timber prices in the Atlantic and Gulf regions. While high log inventories in China translated to softer delivered log prices in the Pacific Northwest and New Zealand, our results benefited from a higher mix of stumpage sales in the Pacific Northwest, much of which was sold during the first quarter when the market enjoyed stronger pricing. In Real Estate, improved results reflected the sale of a non-strategic timberland parcel in Florida, for which the proceeds were reinvested in a highly productive timberland property acquired in Georgia."

    Forest Resources
    Second quarter sales of $101 million were $8 million below the prior year period, while operating income of $22 million was slightly higher. Year-to-date sales of $206 million increased $40 million from 2013, while operating income of $49 million rose $15 million above prior year results.
    In the Atlantic region, second quarter and year-to-date operating results improved compared to the respective 2013 periods, as higher pine prices continued due to strong pulpwood demand and restricted supply, partially offset by lower volumes. Second quarter and year-to-date operating results in the Gulf region also improved due to higher pine prices and non-timber income, partially offset by lower volumes. Unusually wet weather conditions in both regions hindered harvest efforts during the second quarter.
    In the Pacific Northwest, second quarter results were comparable to the prior year period as lower costs offset reduced volumes due to high China inventories. Year-to-date results compared to 2013 increased significantly due to higher prices and volumes that benefited from the surge in China demand earlier in the year.
    Second quarter operating results in New Zealand were slightly lower than 2013 as prices declined in the export market due to the high China inventories and were only partially offset by higher domestic prices and volumes. Year-to-date results were slightly higher compared to 2013, reflecting the lower 26 percent JV ownership in first quarter 2013, partially offset by lower export results.

    Real Estate
    Sales of $34 million and operating income of $28 million in the second quarter increased $21 million and $22 million, respectively, from the prior year period. On a year-to-date basis, sales increased $2 million, while operating results increased $6 million. These increases were largely due to the aforementioned sale of a 19,500-acre non-strategic timberland parcel in Florida. Second quarter 2014 operating income also included a $6 million settlement of a bankruptcy claim related to a 2006 sale.

    Other Items
    Excluding the gain related to the consolidation of the New Zealand JV in the second quarter of 2013, corporate and other operating expenses of $10 million in the second quarter of 2014 improved $2 million due primarily to lower benefit costs. On a year-to-date basis, corporate and other expenses were comparable. Although all periods have been restated to present the Performance Fibers business as discontinued operations, general corporate expenses previously allocated to Performance Fibers are not permitted to be allocated to discontinued operations under generally accepted accounting principles. Going forward, the Company expects annual corporate expenses to approximate $20 million.
    Interest and other expenses of $20 million in the second quarter were $11 million above the prior year period due to $5 million of interest related to early repayment of debt in connection with the spin-off and unfavorable mark-to-market valuations on New Zealand interest rate swaps. In addition, other expenses in the second quarter included a $4 million asset write-off related to the spin-off of the Performance Fibers business.
    The second quarter income tax benefit from continuing operations before discrete items was $1 million compared to an income tax benefit of $10 million in 2013. The income tax benefit represents tax benefits from losses at Rayonier's taxable operations and interest and general administrative expenses not allowed to be allocated to the discontinued operations of the Performance Fibers business. Including discrete items, the second quarter income tax expense from continuing operations was $14 million compared to an income tax benefit of $16 million in the second quarter of 2013. In the second quarter of 2014, a $16 million valuation allowance related to the cellulosic biofuel producer credit (CBPC) was recorded reflecting Rayonier's limited potential use of the CBPC going forward.
    The year-to-date income tax benefit from continuing operations before discrete items was $7 million compared to $16 million in 2013. Including discrete items, the income tax expense from continuing operations was $6 million compared to a $42 million tax benefit in 2013. Aside from the $16 million CBPC valuation allowance recorded in 2014, the prior year amount included a $19 million tax benefit from the exchange of the alternative fuel mixture credit for CBPC.

    Outlook
    "With the successful completion of the spin-off, we have positioned Rayonier as an international pure-play timberland REIT," commented Nunes. "We look to our portfolio of highly-productive timberlands to generate increasing cash flow as U.S. housing starts gradually improve. We anticipate 2014 results from our timberlands in the U.S. South will be well above the prior year as demand continues to improve. In the Pacific Northwest and New Zealand, we expect higher log inventories in China to result in lower prices in the second half of 2014. Accordingly, we anticipate Forest Resources' full year results will be modestly below our earlier guidance, but well above 2013. In Real Estate, we expect 2014 results will be comparable to 2013.
    "We are committed to creating shareholder value from an attractive, growing dividend funded by recurring, operational cash flow from our Forest Resources and Real Estate segments. Operational cash flows are expected to benefit from gradually improving U.S. housing starts, continued investments in advanced silviculture, and incremental harvest volumes from timberland acquisitions. Through the first half of 2014, we acquired 35,000 acres of highly productive timberlands for $75 million. We are pleased with the quality of these assets and look to further utilize our strong balance sheet while maintaining a disciplined approach to pursuing other timberland properties to add to our portfolio," concluded Nunes.
    (Rayonier Inc.)
     
    05.08.2014   Fibria profits R$631 million in the second quarter of 2014    ( Company news )

    Company news The company posts a 5% growth in pulp sales compared with the second quarter of 2013, closing the period at 1.334 million tons.
    New debt management initiatives in the face of market opportunities allow for a 3.8% decrease in the company's annual cost of debt in Dollars and for an increase in its average term.
    Growth in surplus power sales lowers pulp production cash costs.
    Leverage drops to 2.3x in Reals (2.4x in Dollars), the lowest ever since the company's inception.

    Fibria, the global largest producer of eucalyptus pulp, closed the second quarter with a net income of R$631 million. The result is a significant improvement compared to the R$19 million profit posted in the first quarter of this year and to the R$593 million loss posted a year earlier.
    Among the main factors leading to this result, the highlight is on the securing of premium Tax (IPI) credits under the Special Export Program (BEFIEX) for the net after-tax amount of R$568 million, and the improved income given the lower impact with financial costs arising from transactions involving the repurchase of company debt. Excluding these effects, Fibria's net income would have been of approximately R$139 million in the second quarter, reaching a cumulative profit of R$358 million in the first half of the year.
    The company's pulp sales were up 12% over the 1Q14, and 5% year-on-year, closing at 1.334 million tons. As a result, pulp inventories ended the quarter in 52 days, a level considered optimal for its logistics chain and a day less than in 2013.
    Pulp production stood at 1.271 million tons, steady compared to 1Q14, and down 1% YoY due to the scheduled maintenance shutdown at the Veracel plant, which, unlike in 2013, took place mainly in the second quarter. Over the past twelve months, Fibria's sales added up to 5.265 million tons of pulp, representing more than 100 percent of its production in the period.
    Responsive to market opportunities, this quarter the company gave continuity to its debt management initiatives, with the highlight on the early liquidation of 78% of the 2021 Bond ($430 million), with a cost of 6.75% per annum, and the issuance of a new Bond worth $600 million maturing in 2024, which, in addition to having a lower cost of 5.25% per year, also increased the average maturity of its debt to 52 months. Fibria ended the 1H2014 with annual savings of $63 million in interest payments due to debt management initiatives it has deployed and to a 3.8% decrease in the average cost of its debt in Dollars per year.
    Fibria reported an adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of R$ 594 million, with a margin of 35%, a reduction of 13% and 8% percent over the previous quarter and the same period of 2013, respectively. The decrease in EBITDA in the second quarter is explained mainly by lower net pulp prices in Reais and higher cost of goods sold - largely due to the increase in the sales volume.
    Thanks to its structural condition of energy producer, through cogeneration from renewable natural resources, Fibria supplies its production process and is still able to generate surplus power. This quarter, the company delivered impressive results in energy sales, lowering its costs and increasing its competitiveness.
    In the second quarter, there were additional energy sales of R$23/t over the first quarter of the year, and of R$27/t compared to 2Q13, substantially contributing to the quarter's production cash cost rise of 2.2% YoY, below the inflation in the period as measured by the IPCA, at 6.5 percent, and lower than the devaluation of the Real against the U.S. Dollar, which topped at 7.9%. Fibria is still pursuing the goal of keeping the increase in its production cash costs below inflation in 2014.
    (Fibria Celulose S/A)
     
    05.08.2014   Resolute Reports Preliminary Second Quarter 2014 Results    ( Company news )

    Company news -Q2 adjusted EBITDA of $108 million / net income of $0.20 per share, excluding special items
    -Significant cost and margin improvement following weather-affected Q1
    -Strong lumber and paper shipments
    -GAAP net loss of $2 million / $0.02 per share

    Photo: Richard Garneau, president and chief executive officer

    Resolute Forest Products Inc. (NYSE: RFP) (TSX: RFP) today reported net income for the quarter ended June 30, 2014, excluding special items, of $19 million, or $0.20 per share, up from net income, excluding special items, of $18 million, or $0.19 per share, in the second quarter of 2013. GAAP net loss was $2 million, or $0.02 per share, compared to a net loss of $43 million, or $0.45 per share, in the second quarter of 2013. Sales were $1.1 billion in the quarter, down $16 million from the second quarter of 2013.

    "Costs and margins normalized this quarter after the disappointing weather-affected first quarter, delivering much stronger performances in each of our four segments," said Richard Garneau, president and chief executive officer. "We generated 50% of our adjusted EBITDA from our wood products and market pulp businesses in the last twelve months. Our competitive advantage rests on our cost-focused strategy and diversified asset base, giving us the tools to maximize earnings power in this challenging industry."

    Consolidated Quarterly Operating Income Variance Against Year-Ago Period
    The Company recorded an operating loss of $8 million in the second quarter, compared to operating income of $3 million in the year-ago period. Overall pricing was essentially unchanged in the quarter, as the 8% increase in market pulp prices was offset with lower average transaction prices in newsprint, specialty papers and wood products. Newsprint shipments rose by 3% and wood products by 22%, while specialty papers shipments were 2% lower. The increase in lumber shipments reflects an increase to production capacity and better market demand. Market pulp shipments were down by 15%, however, in part due to more internal consumption of hardwood kraft pulp and slowing North American demand, particularly softwood and recycled grades. With lower start-up costs and pension and other postretirement benefit expenses, overall manufacturing costs continued to improve. The Company also benefitted from its electricity cogeneration assets and asset optimization initiatives, offset in part by an increase in overall fiber costs and in maintenance and repair costs. The weaker Canadian dollar had a $22 million favorable effect on operating income.
    The Company incurred $52 million of accelerated depreciation and other closure-related costs, most of which came from the permanent closure of an idled paper machine at its Catawba mill in South Carolina. Selling, general and administrative expenses were $3 million lower in the quarter, primarily because of a reduction in project costs and the weaker Canadian dollar.

    Segment Operating Income Variance Against Prior Quarter
    Newsprint
    At $18 million in the second quarter, newsprint generated $33 million more operating income compared to the first quarter. Shipments rose by 6%, or 32,000 metric tons, as the Company recovered from weather-related production disruptions and mechanical failures experienced in the first quarter, despite fiber availability limitations at certain mills in Québec. Export shipments represented 40% of total newsprint volume, compared to 44% in all of 2013. Average transaction price was essentially unchanged but the realized margin rose significantly due to a 9% drop in operating cost per unit (the "delivered cost"), to $568 per metric ton. The change in the delivered cost is due to the influence of the severe winter in the first quarter and lower, non-weather related maintenance costs in the second quarter. Finished goods inventory rose by 14%.

    Specialty Papers
    Specialty papers generated an operating loss of $3 million in the quarter, compared to a loss of $24 million in the previous quarter. While the overall average transaction price was unchanged, higher realized pricing for white papers was offset by the effect of lower pricing for coated mechanical grades and, to a lesser degree, supercalender grades. Volume rose by 8% overall, led mostly by stronger shipments of white papers but also including improvements in other grades. The increase reflects a seasonal pick-up in catalogue and retail end-uses from first quarter lows as well as better production consistency following the weather-related production disruptions and mechanical failures experienced in the first quarter. The delivered costs normalized to seasonally-consistent levels, falling by 7%. There was a 15% increase in finished goods inventory.

    Market Pulp
    Operating income in the market pulp segment rose by $16 million in the second quarter, to $24 million. Better realized pricing, strongest in fluff pulp grades but also meaningful in softwood and recycled grades, led to an overall 4% increase in average transaction price. Shipments did not improve as expected following the effects of weather-related production disruptions and distribution constraints in the first quarter. This reflects greater internal consumption of hardwood kraft pulp and softening North American demand, particularly softwood and recycled grades. The delivered cost fell by 3%, to $652 per metric ton, normalizing to seasonally-consistent levels following the difficulties in the first quarter. Finished goods inventory rose by 15,000 metric tons, or 15%.

    Wood Products
    Compared to the first quarter, operating income in the wood products segment rose by $3 million, to $15 million. The average transaction price was unchanged, reflecting the largely offsetting effect of higher market prices for stud lumber grades and lower market prices for random length lumber grades. Despite continued distribution constraints for lack of carrier availability carried over from the first quarter, shipments were 19% higher, which in turn cut finished goods inventory by 13% from the high levels reached in the first quarter. The delivered cost rose by 1% in the quarter.

    Outlook
    Mr. Garneau added: "Our conscious effort to reduce lumber inventory in the second quarter helped improve shipments in this segment. With inventories closer to normal levels, we expect shipments to normalize in the third quarter. Despite the ongoing slow recovery in U.S. housing starts, prices for eastern grades held up in July. With our scale, financial strength and lower-cost operating platform, we've positioned ourselves as a long-term, reliable supplier for our customers, and our newsprint business has responded well, especially in the domestic market. But we're not expecting much improvement in export markets for the remainder of the year, based on lower international demand. As some major hardwood pulp capacity increases are coming online, the balance of the year remains somewhat uncertain for pulp. Pricing in specialty papers is also more uncertain because of the pressure of lower operating rates in coated papers and supercalender grades, although we do expect to see seasonal improvement in shipment volumes."
    (Resolute Forest Products)
     
    05.08.2014   Valmet to supply first Advantage NTT line in the USA to von Drehle Corporation    ( Company news )

    Company news von Drehle Corporation will be the first tissue maker in the USA to produce tissue with Valmet's flexible Advantage NTT technology. The new line will be installed at the company's facility in Natchez, Mississippi, USA. Startup of the new line is planned to be in late 2015.
    The order is included in Valmet's third quarter 2014 orders received. The value of the order is not disclosed.

    von Drehle is currently operating two Advantage DCT tissue machines in their Cordova, North Carolina operation. The Advantage NTT technology is designed for maximum flexibility as well as enhanced product quality and can easily swing between productions of conventional tissue to textured tissue in just a few hours. It has been well received by the market and this will be the fourth NTT machine in production. The first Advantage NTT line was started up in Mexico in 2013 and two more lines are planned to be in production in Chile and Abu Dhabi in 2014 and 2015.
    "Valmet is one of our long time trusted suppliers. As we studied different tissue machine technologies, energy efficiency, flexibility, and potential for optimizing use of our recycled fiber furnish were critical. Process and operation review made the Valmet NTT technology the obvious choice for production of tissue and towel products at our Natchez, MS Facility," says Joe Pankratz, V.P. of Manufacturing, von Drehle Corporation.
    "This will be the first Valmet's Advantage NTT installation in USA and we are all delighted to work with von Drehle in yet another project. We will deliver this project as a showcase in the industry," says Soren Eriksson, Account Sales Manager, Tissue Mills Business Unit, Valmet.

    Technical information
    The new tissue machine will have a width of 2.6m and a design speed of 2,000 m/min. The raw material for the new line will be recycled fiber and the production line is optimized to save energy and fiber as well as add possibilities for product differentiation and increased capacity of premium quality products.
    Valmet's scope of delivery will comprise a complete tissue production line including an Advantage NTT 100HS tissue machine. The tissue machine will be equipped with an OptiFlo headbox and a cast alloy Yankee cylinder. It will also be featured with the Advantage tissue technology including, an AirCap hood and a SoftReel. Basic mill engineering, process equipment and process ventilation are also included in the scope. Furthermore, the delivery will include an automation package from Metso Automation with process control system. Installation supervision, training and commissioning as well as product development support are part of the delivery.
    (Valmet Corporation)
     
    05.08.2014   70 DAYS UNTIL MIAC 2014!    ( Company news )

    Company news Only 70 days left until MIAC 2014 (21st edition). Rapidly changing technological solutions require continuous education: MIAC is the answer to all this!
    MIAC is an international meeting point that allows you to compare the technologies and business proposals of all the companies present at the Exhibition. Taking part in MIAC means being one of 5,000 Visitors from across the globe who meet in Lucca in October of each year (last year's MIAC Exhibition registered visitors from 53 Countries).

    Everything is concentrated in 3 days and in one place:
    270 International Exhibitors await you in Italy next October!

    - THE CONFERENCES
    Also for the 2014 edition, MIAC Exhibition planned three "technical meetings" in order to take stock of the situation regarding trend, future perspectives and new available technologies in the paper
    sector. As every year, the participation to the Conferences is free of charge.
    Simultaneous translation from Italian to English and vice versa is available during the Conferences.

    - LUCCA TOWN (AND SURROUNDINGS)
    Lucca is one of the few cities in the world to conserve still intact its Walls of the XV-XVII Century.
    The walls of Lucca encircles the historical center entire and they are long 4,5 km approximately. Lucca historical center is well-conserved and there are many churches of remarkable architectonic wealth, Towers and Palaces of pregevole stilistic linearity. Lucca is only 20 Km. car distant from Pisa, where it is possible to visit the worldwide famous Pisa Tower.
    (Edinova Srl)
     
    05.08.2014   2014 Indonesia Corrugated Industry Summit    ( Company news )

    Company news Unprecedented Summit of Indonesian Corrugated Industry
    The 2014 Indonesia Corrugated Industry Summit will run in Pullman Jakarta Central Park Hotel, Jakarta, Indonesia, from September 22 to 24.

    1. The Only Authoritative Summit for Indonesia’s Corrugated Industry
    The 2014 Indonesia Corrugated Industry Summit is the only professionally managed summit for Indonesia’s corrugated industry. It will serve as a platform for local buyers to gain a full understanding of the global corrugated manufacturing techniques and equipment. World-renowned suppliers of corrugated equipment and consumables will showcase corrugated box manufacturing solutions to help develop the Indonesian market, grow participants’ market share, boost the competitiveness of Indonesian suppliers in the international trade arena and discover valuable partnership prospects.

    2. Fast Growing Market with Immense Capacity
    Indonesia, with a population of 240 million, is the world’s fourth most populous nation and the largest economy in Southeast Asia. The International Corrugated Case Association predicts that the country’s production of corrugated board will reach 6.3 billion sqm in 2015. The current market in Indonesia continues to grow at a rate of 9% per annum. It is expected to sustain this rate through to 2016, surpassing India’s growth rate of 8.9% and China’s of 7%. For the foreseeable future, Indonesia will be the world’s largest and fastest-growing emerging corrugated market.

    3. Full Details of Target Customers to Promote Efficiency for Exhibitors
    Reed Exhibitions, organizers of the 2014 Indonesia Corrugated Industry Summit, have the contact data of 1,200 high profile Indonesian corrugated box manufacturers. Based on this information, Reed will invite 100 corrugated box manufacturers and 150 visitors to attend the Summit, ensuring that participants get high value from the exhibition.

    4. Capitalize on Hot Opportunities in Transformational Indonesian Market
    You will get a full understanding of the latest policies in place following Indonesia’s presidential election. You can deepen your understanding of the country’s corrugated market to find the best partners for you. This is a prime period to enter the market as the Indonesian manufacturing community looks to update and replace equipment. You will build brand awareness rapidly to increase recognition of your products and technologies in the market, and be able to support dealers and trade agencies to explore the market.

    5. One-Stop Service: Combined Business and Leisure Package
    The five-day Summit will serve exhibitors as a one-stop platform via which to conduct trade talks, attend social dinners, go on factory visits and tour Bali. There will be one package to match exhibitor needs, improve their outcomes and boost the return on their investment.

    6. Experienced, Reliable and Professional Event Team
    The Summit, organized by the Indonesian Corrugated Cardboard Industries Association (PICCI) and Reed Exhibitions, is produced by the team behind the SinoCorrugated shows. This means that every exhibitor is assured of getting the very best return on their investment.
    (Reed Exhibitions Greater China)
     
    04.08.2014   Pöyry Oyj : Interim report 1 January - 30 June 2014    ( Company news )

    Company news JANUARY - JUNE 2014 HIGHLIGHTS
    - On 2 June 2014, Pöyry closed the divestment in Finland that included significant parts of Pöyry's real estate design and consulting business as well as construction management business for real estate and infrastructure.
    - The Group's order stock totalled EUR 482.4 (555.7) million. It increased in the Industry Business Group but contracted in all other Business Lines. Excluding the divestment in Finland in June, comparable order stock increased from EUR 461.4 at the end of the previous year. Comparable order stock on 30 June 2013 was EUR 512.5 million.
    - Net sales declined to EUR 303.5 (336.5) million mostly due to the performance in the Regional Operations.
    - Operating profit decreased to EUR -4.7 (5.0) million. Operating profit was burdened by lower than expected net sales as well as EUR -5.4 million of project losses and other one-time items recognised mainly in the Regional Operations. Operating profit includes a one-time gain of EUR 19 million from the divestment in Finland as well as EUR -14 million loss resulting from the write-off of the receivables from Venezuela. Operating profit increased in the Management Consulting Business Group, however it declined in all other Business Lines and mostly in the Regional Operations except for the Northern European region.
    - In line with its strategic evolution introduced in February 2013, Pöyry integrated its local activities in Latin and North America as well as in Asia Pacific to Regional Operations in January 2014.
    - Pöyry continues to implement its structural and administrative process improvement program announced at the end of 2012. As these measures are progressing, Pöyry will introduce further improvements in terms of sales focus, project management and capacity management.

    OUTLOOK FOR 2014
    Due to the write-off of the receivables in Venezuela, Pöyry has on 31 July 2014 lowered its guidance for the operating profit for 2014. According to the guidance announced on 5 February 2014, the Group operating profit in 2014 was expected to increase. According to the new guidance, the Group's operating profit in 2014 is expected to decline compared to the operating profit for 2013.

    ALEXIS FRIES, PRESIDENT AND CEO:
    "Pöyry's net sales declined in the first half of the year to EUR 303.5 (336.5) million. Sales weakened mostly in the Regional Operations which were impacted by clients' lower investment activity and project delays in Europe and Latin America. Operating profit declined to EUR -4.7 (5.0) million. The figure includes EUR -5.4 million of project losses and other one-time items as well as profit of EUR 19 million originating from the divestment in Finland. Operating profit was additionally impacted by the write-off of overdue receivables related to projects from the former Urban Business Group in Venezuela, amounting to EUR 14 million. Pöyry continues to pursue the collection process. Operating profit improved in the Management Consulting Business Group. While Northern Europe developed satisfactorily, the overall performance of the Regional Operations was disappointing and had a negative impact on the figure.
    The Group's order prospects were solid, however the progression of larger project opportunities was taking clearly longer. The Group's overall order intake decreased in the Energy Business Group, Central Europe and Latin America. Nevertheless, orders increased in all other Business Lines. The Group's order stock improved in most Business Lines, amounting to EUR 482.4 million and improving from EUR 461.4 million at the end of 2013. However, the year-on-year figure decreased from EUR 555.7 million (or EUR 512.5 million excluding the divestment in Finland). The decrease affected all Business Lines with the exception of the Industry Business Group.
    The Group's unallocated costs increased in line with expectations due to advancing centralisation of the global support functions, a process where considerable cost savings have been achieved.
    As communicated earlier, Pöyry strengthened its regional focus in January 2014 by integrating its local activities in Latin and North America, as well as in Asia Pacific, into the Regional Operations. This is in line with Pöyry's strategy to grow its services in key domestic markets.
    After a difficult start in a weakening market at the beginning of this year, the Regional Operations in Northern Europe recovered well and showed positive development. In other regions, however, where lower sales resulted in unsold engineering hours and losses were recorded in projects originating from the former Urban Business Group, performance was not satisfactory. Latin America was impacted by litigation costs related to an arbitration process and a delayed start-up of a major client project.
    Improvements in terms of sales focus, project management and capacity management have been initiated across all units and are closely monitored as part of our regular management process.
    We continue to progress with Pöyry's organisational evolution, introduced in February 2013. It is based on Management Consulting, Global Business Lines focusing on Energy and Industry as well as development of strong Regional Operations around key countries where we offer engineering services to industry and infrastructure clients locally through our office network. The related organisational adjustments have proceeded according to plan.
    The divestment in Finland was closed on 2 June 2014, allowing us now to sharpen our focus on the industry and local infrastructure markets in Northern Europe."
    (Pöyry Plc)
     
    04.08.2014   The CEO of Vaahto Group Plc Oyj will change    ( Company news )

    Company news The CEO of Vaahto Group Plc Oyj Vesa Alatalo (photo) is leaving the company on 31.8.2014 to become Managing Director of Oy SKF Ab.
    ”Vesa Alatalo’s resignation surprised us. Vesa has performed excellently and under his management the group began energetically making the changes required by the new strategy. I want to wish Vesa the best of luck in his new and demanding position” comments the chairman of the board Reijo Järvinen.
    The board of directors addressed the situation today and appointed M.Sc. (Tech.) Topi Karppanen as acting CEO starting from 1.9.2014. Karppanen has been a member of the board of Vaahto Group Plc Oyj since 2010 and has strong industrial background.
    ”Topi has been a member of the board and thus knows the company well. I believe that Topi’s solid experience helps him to succeed in this position. Under Topi’s management we will continue the work Vesa Alatalo began in deploying the strategy. I wish Topi the best of luck and success in his new position”, says Järvinen.
    The board of directors will start the search for a new permanent CEO immediately.
    (Vaahto Group Plc Oyj)
     
    04.08.2014   Agfa Graphics launches new state-of-the-art 16-up Avalon N16-80 XT    ( Company news )

    Company news Agfa Graphics announced the newest addition to its family of high-end thermal platesetter systems, the Avalon N16-80 XT.
    The new top line model comes as a fully configurable solution, based on proven technology in other Agfa Graphics solutions assuring continued reliability. The Avalon N16-80 XT features high speed and a superb imaging quality aimed at the high-production market, including the packaging market.

    “The Avalon N16-80 XT is added to our offering in the high-end segment,” said Bruno Lepage, Marketing Product Manager CtP Equipment Commercial & Packaging, Agfa Graphics. “Both the quality and the speed are extremely attractive to large commercial as well as packaging printers. As the engine also supports the adapted plate sizes used on most recent presses, it is the perfect fit for the 16-up/format 6 market.”

    All Avalon models seamlessly integrate with Agfa Graphics’ PDF-based Apogee workflow to provide high-quality automated plate production control for commercial, packaging and publishing printing business.
    (Agfa Graphics NV)
     
    04.08.2014   Graphic Packaging Holding Company Reports Second Quarter 2014 Results    ( Company news )

    Company news Second Quarter Highlights
    -Q2 Net Sales increased $30.4 million or 2.8%, after adjusting for the impact of divested businesses.
    -Q2 Adjusted Earnings per Diluted Share increased to $0.20 versus $0.13 in the prior year period.
    -Q2 Adjusted EBITDA increased to $190.8 million versus $175.1 million in the prior year period.
    -Acquired U.K.-based Benson Group and completed sale of multi-wall bag business.

    Graphic Packaging Holding Company (NYSE: GPK), (the "Company"), a leading provider of packaging solutions to food, beverage and other consumer products companies, today reported a Net Loss for second quarter 2014 of $40.0 million, or $0.12 per share, based upon 328.7 million weighted average shares. This compares to second quarter 2013 Net Income of $21.2 million, or $0.06 per share, based on 351.5 million weighted average diluted shares.
    Including the tax impact, second quarter 2014 Net Income was negatively impacted by $106.0 million of charges primarily from the Loss on Sale of Assets (multi-wall bag business) along with Charges associated with Business Combinations and Other Special Charges. When adjusting for these charges, Adjusted Net Income for the second quarter of 2014 was $66.0 million, or $0.20 per diluted share compared to second quarter 2013 Adjusted Net Income of $44.1 million or $0.13 per diluted share.

    "We had a busy quarter with a strategic acquisition and the sale of our multi-wall bag business. The sale represents the last major step in a series of divestitures over the last nine months and completes our transformation into a pure play, vertically integrated paperboard packaging business," said CEO David Scheible. "We recovered from the weather challenged first quarter and delivered a solid second quarter with significantly higher Adjusted EBITDA margins both sequentially and year-over-year. Performance was strong across the business, particularly at our two virgin fiber mills, which ramped back up quickly and efficiently after the weather driven unplanned downtime in February and March. We were also able to move our continuous improvement teams back into place and delivered a solid $22 million net benefit from performance initiatives in the quarter."
    "Our first priority is running the business, but we are also taking strategic actions to further position Graphic Packing as the global leader in paperboard packaging. We took two major steps toward this goal in the quarter with the acquisition of the U.K.-based Benson Group and the sale of our multi-wall bag business. The Benson acquisition greatly enhances our folding carton business in Europe in key end-use segments. Like our strategy in the United States, we are committed to growing our European business around food and beverage end markets and optimizing our supply chain footprint around our customers' needs."

    Net Sales
    Net Sales decreased 2.0% to $1,116.7 million in the second quarter of 2014, compared to $1,139.7 million in the prior year period. Excluding $53.4 million of sales in the prior year period from divested businesses, Net Sales increased $30.4 million or 2.8%. The increase was driven by $23.7 million of higher pricing, $4.1 million of favorable exchange rates and $2.6 million of improved volume/mix.
    Paperboard Packaging Net Sales, which comprised 88.4% of total second quarter Net Sales, increased 1.6% to $987.3 million in second quarter 2014, compared to $972.1 million in the prior year period. Excluding $21.0 million of sales in the prior year period for the divested Uncoated Recycled Board (URB) mill and the divested labels business, Paperboard Packaging Net Sales increased $36.2 million or 3.8%.
    Net sales in the Flexible Packaging segment decreased 22.8% to $129.4 million in the second quarter of 2014, compared to $167.6 million in the prior year period. Excluding $32.4 million of sales in the prior year period for the divested flexible plastics business, Flexible Packaging Net Sales decreased $5.8 million or 4.3%.

    EBITDA
    Including $171.1 million of special charges, EBITDA for second quarter 2014 decreased to $19.7 million from $139.7 million in the second quarter of last year. When adjusting for these special charges, Adjusted EBITDA increased 9.0% to $190.8 million in second quarter 2014 from $175.1 million in second quarter 2013. The $171.1 million adjustment was primarily related to the June 2014 sale of the Company's multi-wall bag business. When comparing against the prior year quarter, Adjusted EBITDA in the second quarter of 2014 was positively impacted by $23.7 million of higher pricing, $21.6 million of improved net operating performance and $0.3 million of favorable exchange rates. These benefits were offset by $12.8 million of commodity inflation, $10.7 million in higher labor and benefit costs, and $6.4 million of unfavorable volume/mix.

    Other Results
    Total Net Debt at the end of second quarter 2014 was $2,161.3 million, $40.1 million lower than at the end of 2013. The Company's June 30, 2014 Net Leverage Ratio dropped to 3.17 times Adjusted EBITDA from 3.48 times Adjusted EBITDA at the end of the second quarter of 2013. At June 30, 2014, the Company had available domestic liquidity of $773.3 million, including the undrawn availability under its $1.0 billion U.S. revolving credit facility.
    Net Interest Expense was $21.2 million in the second quarter of 2014, compared to $29.7 million in the second quarter of 2013. The decrease was primarily attributable to lower debt levels and the Company's decision to issue new 4.75% Senior Notes and use the proceeds to redeem its higher 9.5% notes on June 15, 2013.
    Capital expenditures were $49.6 million in the second quarter of 2014, compared to $51.7 million in the second quarter of 2013.
    Income Tax Benefit was $33.2 million in the second quarter of 2014 compared to an $11.4 million expense in the second quarter of 2013. The change over the prior year was primarily a result of the second quarter pre-tax loss generated by the sale of the Company's multi-wall bag business. As of June 30, 2014, the Company had approximately $917 million of Net Operating Losses (NOLs) for U.S. federal cash income tax purposes, which may be used to offset future taxable income.
    (Graphic Packaging Holding Company)
     
    01.08.2014   KapStone Paper and Packaging Corporation Elects Robert J. Bahash and Maurice Reznik as...    ( Company news )

    Company news ... Directors

    KapStone Paper and Packaging Corporation (NYSE: KS) ("KapStone") announced that on July 24, 2014, the Board of Directors elected Robert J. Bahash and Maurice Reznik as Directors of the Company. Mr. Bahash was elected as a Class A director with a term expiring at the annual shareholders meeting in May 2016. Mr. Reznik was elected as a Class C director with a term expiring at the annual shareholders meeting in May 2015.

    Mr. Bahash, age 69, was the President of McGraw-Hill Education from November 2010 until his retirement in June 2012. Prior to that time, he served as executive vice president and chief financial officer of the McGraw-Hill Companies for 22 years. Mr. Bahash is a member of the American Institute of Certified Public Accountants, the Financial Executives Institute, and the New Jersey Society of Certified Public Accountants. He was a member of the Board of Directors for WMS Industries, Inc. until the Fall of 2013 when the company was sold to Scientific Games, Inc. He graduated from Mount St. Mary's College (Maryland) with a B.S. degree in accounting and received an M.B.A. in finance from New York University.

    Mr. Reznik, age 60, held the office of Chief Executive Officer, and was a member of the Board of Directors of Maidenform, Inc. from 2008 until the sale of Maidenform, Inc. earlier this year. He served as the company's President from 1998 to 2008. Maidenform, Inc. is a global publicly traded, direct to consumer and wholesale intimate apparel company with $600 million in revenues. From 1994 to 1998, Mr. Reznik was the President of Warner's Intimate Apparel Group, North America. He currently serves on the Board of Directors of the Movado Group, Inc., For the Love of Life Colon Cancer Foundation at Sloan Kettering, Dignity U Wear Foundation and Queens College. Mr. Reznik received a B.A. degree from Queens College.
    (KapStone Paper and Packaging Corporation)
     
    01.08.2014   FiberMark Acquires Crocker Technical Papers    ( Company news )

    Company news FiberMark (www.fibermark.com), a global leader in manufacturing innovative paperboards, fiber-based specialty covering materials and print media for world-leading brands, and niche products for industrial and technical specialty applications is pleased to announce that it has acquired the assets of Crocker Technical Papers, based in Fitchburg, MA.

    Photo: Anthony MacLaurin, CEO at FiberMark

    Founded in 1972, Crocker provides custom engineered multi-layered papers and boards, uniquely designed and tailored to meet specific customer-specified performance criteria. Its products can be found in items that protect priceless heirlooms and historical artifacts as well as being critical components of items that assist in reliable delivery of electrical energy to homes and industry.
    Crocker will become a part of FiberMark’s technical specialties and performance boards business in which FiberMark will adopt the Crocker brand name. FiberMark will continue to serve the industrial markets with electrical insulation specialties, archival quality paper and boards, photographic packaging, specialty coating base and other industrial specialties. Larry Gelsomini, the President and CEO of Crocker Technical Papers, will join FiberMark as General Manager of the Fitchburg plant.
    “The Crocker Technical mill is a terrific addition to the FiberMark family.” said Anthony MacLaurin, CEO at FiberMark. “Crocker dramatically broadens our capabilities and product offerings enabling us to deliver added value to our customers. The Crocker acquisition will grow the FiberMark family of brands and is a key part of FiberMark’s overall growth strategy.”
    “Crocker Technical enjoys a select, diverse and imaginative set of customers who continue to entrust us with their requirements. FiberMark’s technical skills, and global marketing and sale’s channels, bodes well for the growth of Crocker’s technical products and its customers.” said Larry Gelsomini, the President of Crocker.
    The deal is expected to close in August.
    (FiberMark North America Inc.)
     
    01.08.2014   Nippon Paper Industries Launches a New Product: 'Luciolight'    ( Company news )

    Company news World’s first fluorescent-colored fancy paper with guaranteed 70% content of waste paper pulp

    Nippon Paper Industries Co., Ltd. (President: Fumio Manoshiro) announces the commencement of sales in July of "Luciolight," a new fluorescent-colored fancy paper series. This new product will be produced with the paper machine No. 2 at Fuji Mill.
    The "Luciolight" series is the world's first (*based on our research) fluorescent-colored fancy paper categorically made of 70% waste paper pulp. With a lineup of four bright fluorescent colors, fluorescent yellow, fluorescent green, fluorescent pink, and fluorescent orange, and three types of thickness, this product features cross-section colors that match since it is manufactured by dyeing the pulp, which is the raw material. It can be used for a wide variety of applications, such as fancy products, paper products, pop art, and more.
    The "Luciolight" domestically-produced fluorescent paper series, with a guaranteed high level of waste paper pulp, will undoubtedly meet the diverse needs of our customers.
    (Nippon Paper Industries Co Ltd)
     
    01.08.2014   Annual General Meeting of Heidelberger Druckmaschinen AG for financial year 2013/2014 ...    ( Company news )

    Company news ...approves all items on the agenda with clear majority

    Around 1,750 shareholders participated in the Annual General Meeting of Heidelberger Druckmaschinen AG (Heidelberg) for financial year 2013/2014, which was held at the Congress Center Rosengarten in Mannheim. Approximately 29 percent of Heidelberg's share capital was represented at the event.

    Picture: Gerold Linzbach, CEO of Heidelberger Druckmaschinen AG, at the Annual General Meeting for financial year 2013/2014 held at the Congress Center Rosengarten in Mannheim.

    The Management Board discussed the company's strategy and the balance sheet figures for the past financial year (April 1, 2013 through March 31, 2014). In his speech, Heidelberg CEO Dr. Gerold Linzbach analyzed where he feels Heidelberg is currently at and then highlighted where the company is heading in the medium term. Following five years of losses, the net profit for financial year 2013/2014 was EUR 4 million. The next step is to secure the Group's sustained profitability in the years ahead by expanding growth segments, implementing portfolio measures, and introducing structural cost projects. The aim is to achieve an EBITDA margin of no less than 8 percent as early as financial year 2015/2016.
    Approval from the company's shareholders was needed for four of the five items on the AGM's agenda. These included the raising of new conditional capital. All items on the agenda were approved with a clear majority.
    (Heidelberger Druckmaschinen AG)
     
    01.08.2014   Portucel informs on results for the first half of 2014    ( Company news )

    Company news “Our leadership in the European uncoated woodfree market was again
    reaffirmed this semester: we increased our sales volume, improved our
    product mix, while our sales price evolved better than the average of
    the market. We feel confident that we are well positioned to face any
    toughening of market conditions” said Diogo da Silveira, Portucel Chief Executive Officer.

    Main Highlights for the First Half of 2014:
    -Portucel Group increased the volume of paper sales by 0.7%
    -Turnover totalled € 747.2 million, down by 1.2% on H1 2013, reflecting
    lower pulp and paper prices
    -Paper sales to Europe represent larger share of total and improved
    product mix.
    -Group generates free cash flow of € 119.2 million
    -Net debt held at very conservative levels

    Main Highlights for the Second Quarter of 2014:
    -Strong pulp sales volume increase on previous quarter (+25%)
    -Paper price increase in Europe starting in April
    -Paper sales grow by more than 3% from first to second quarter
    -Group's average sales price up 0.4%, despite drop in market index
    -Energy sales down around 1%
    -Turnover up 4.5% to € 381.8million
    -Free cash flow up by approximately € 3.7 million

    Analysis of Results
    First Half 2014 vs first half 2013
    The Portucel Group recorded total turnover for the first half of 2014
    of € 747.2 million, down 1.2% on the 1st half of 2012. This reflected
    essentially the drop in pulp and paper prices, as well as in the average sales price for electricity. In UWF (uncoated woodfree) paper
    business, despite growth of 0.7% in the Group's sales volume, lower
    prices held down the value of paper sales, which fell by approximately
    1%. But although the average market price was lower than in the 1st
    half of 2013, with the A4 B‐copy index down by 2.8%, the Group recorded a reduction of only 1.6% in its average sales price, thanks to
    improvement of its product mix, and price rises implemented from April
    onwards.
    As expected, the first half proved difficult for the pulp sector, with
    new production capacity coming online, in a market where supply already
    exceeded demand. Although the impact was less severe than initially
    feared, the benchmark price, Pix BHKP, in euros, slumped by 9.1%. In
    this adverse market environment, the Group succeeded in maintaining
    its sales volume at the same level as in the 1st half of 2013, despite
    recording a drop in the value of its pulp sales.
    In power generation, output was up by 1.4% from the 1st half of 2013,
    totalling 1,170 GWh for the first six months of 2014.
    Sales progressed in line with output, standing at 1068 GWh.
    However, the sales price fell by around 3%, due essentially to the
    reduction in the ALBm index (mean Arabian Light Breakeven), and this
    held down turnover from power sales, which stood at € 114 million.
    A number of planned stoppages took place over the course of the first
    half, at the Cacia pulp mill, on the paper machines and at the
    cogeneration plants for the three industrial sites, in Cacia, Figueira
    da Foz and Setúbal. Maintenance stoppages also took place at the two
    biomass power stations in Cacia and Setúbal.
    However, these stoppages had no significant impact on output of pulp,
    paper and power over the period.
    On the cost side, the Group recorded an improvement in personnel expenditure (due fundamentally to a correction in the estimated cost
    of vacation and vacation subsidy), as well as a reduction in the cost
    of chemicals and logistic operations for pulp and paper.
    Lower power prices were also reflected in the price paid for electricity purchased, resulting in an overall positive balance on these operations.
    However, these gains were practically wiped out by rising timber costs
    over the first half, due fundamentally to the extremely rainy weather
    over the period, which hampered forestry operations.
    In this environment of falling prices, the Group recorded EBITDA of
    € 158.2 million, down by around 9.6%, with the EBITDA/Sales margin
    standing at 21.2%.
    Operating income totalled € 112.3 million, as compared with approximately 124.7 million recorded in the previous year. The Group
    recorded net financial loss of € 16.1 million, up by € 8.3 million on
    the first half of 2013, due essentially to increased borrowing costs,
    as a result of renegotiation of its debt in 2013.
    In May 2013, Portucel issued bonds on the international markets with
    a value of € 350 million, extending the maturity of its debt and
    improving its liquidity, but at the same time increasing the associated costs. The worsening in financial results was also due to a
    substantial reduction in returns from the investment of cash surpluses.
    Net income stood at € 90.6 million, down by 7.3% on the first half of
    2013.
    As for the first quarter, the effective tax rate for the first half
    was significantly lower than the rate of tax for the same period in
    2013, standing at 6.2%, thanks to the release of provisions which
    proved not to be necessary.

    Second quarter 2014 vs first quarter 2014
    Portucel closed the second quarter with turnover up 4.5% on the first
    quarter. This growth is explained essentially by growth in paper sales,
    although pulp business also made a positive, but smaller, contribution.
    The volume of paper sales grew by around 3%, which combined with increases in the Group's sales prices from April onwards resulted in
    growth in the value of sales. Although the benchmark index (FOEX - A4
    B copy) averaged 0.7%, down from the first quarter average, the Group's
    average sales price improved.
    In pulp, the sales volume was substantially higher than in the first
    quarter, growing by 25%. However, the drop in pulp prices meant that
    this was not translated into growth in the value of sales.
    Business in the power sector was down on the first half, falling around
    3% as a result of the reduction in the average sales price for
    electricity, as reported above.

    Outlook
    As may be expected, developments in the pulp and paper markets will
    continue to be decisively influenced by the performance of the world's
    leading economies, and increasingly by that of emerging countries.
    Despite the continued gradual easing of some of the main concerns and
    sources of uncertainty, related in particular to the over‐indebtedness
    of outlying countries in the Euro zone, and of the United States, the
    world economy has yet to present the clear improvement needed to create an investment‐friendly environment, and thereby reduce unemployment and generate sustained growth. Despite a slight deterioration observed in the 2nd quarter of the year, the BEKP pulp
    market has continued to display significant resilience. The healthy
    level of demand from the Chinese market is expected to rise further
    in the coming months and to remain relatively strong through to the
    end of the year, which could make a positive contribution to balancing
    the market. Likewise, the price spread between long fibre and short
    fibre pulp, which reached an all‐time high, may in the medium term lead
    to short fibre being substituted for long fibre.
    At the same time, the tissue paper segment is expected to continuing
    growing at a moderate pace, especially in the emerging economies such
    as China, Turkey and Latin America, which should contribute to
    maintaining a dynamic market.
    However, a degree of uncertainty as to the future of the Chinese economy and the paper market in general, the start‐up of new pulp
    capacity planned for 2015 and 2016 and the evolution of exchange rates
    between the real, the Uruguayan peso, the euro and the dollar, are
    all factors which may have an impact on the balance of supply and demand in BEKP pulp.
    In the UWF market, the Group's order books remain healthy, at the second best level ever recorded, despite signs that the growth observed since the start of year may be slowing. In the months ahead,
    market conditions are expected to worsen slightly, due to season factors.
    (Portucel Empresa Produtora de Pasta e Papel SA Setúbal Pulp and Paper Mill)
     
    01.08.2014   Briefing: The Current State of the Paper Packaging Market    ( Company news )

    Company news Within the recycled materials market, paper packaging is the largest sector, accounting for around 65% of all recycled packaging. Paper and paperboard also have the highest recycling rates worldwide (with the exception of glass in some countries). Demand for paper packaging will continue to grow, due to the manufacturing economies of China and other emerging countries. In fact, the overall market for recycled paper packaging will grow at a CAGR of 5% to reach $139 billion in 2018.

    Geographic forecasts
    In the US and Canada, paper and paperboard recovery has increased by 81% since 1990, and has reached a recycling rate of 70% in the US and 80% in Canada. European countries have reached an average of 75% for recycling paper, with some countries like Belgium and Austria achieving almost 90% recovery. In the UK and many other countries in Western Europe the paper recycling rate is 80%. Eastern Europe and the rest of the world tend to lag behind in paper recycling, mainly due to a lack of adequate recycling infrastructure.
    Recovered paper accounts for 37% of the US pulp supply. The demand for paper pulp is growing rapidly in developing countries; China, India and the rest of Asia are the fastest growing users of paper per capita. The increase in the transit packaging sector in China, combined with growing consumerism, is leading to rapidly growing demand for paper packaging. Paper packaging demand has been growing at a rate of 6.5% since 2008, far higher than anywhere else in the world. Along with this demand for paper packaging, the demand for recycled paper is also increasing.
    Containerboard packaging represents the largest market for recycled paper packaging. About 30% of the paper and paperboard recovered in the US is used to produce containerboard which is the material used for corrugated packaging. A large amount of recovered paperboard is exported to China, while the rest is used to produce other paper packaging such as boxboard, which includes folding boxes. In 2011 exports of recovered paper to China and other countries accounted for a huge 42% of the paper collected in the US for recycling.

    What's next for paper packaging?
    It is estimated that the demand for recycled paper will exceed supply by 1.5 million tonnes of recycled pulp per year by 2018. The paper industry is investing in paper packaging plants in the developing world to satisfy growing demand in these regions.
    In the future, paper packaging is the most obvious choice for replacing polystyrene. Many key players in the industry have already switched to or are experimenting with paper products. For example, Starbucks uses only paper cups and is actively involved in paper recycling initiatives including closed-loop systems in select locations. Further improvements in paper recycling will also help to grow the market, as recent advances have made it possible to recycle coated paper packaging along with corrugated paper. This will reduce the cost of recycling significantly, driving up the demand for recycled paper.

    Paper packaging in the food-service industry
    One of the fastest growing markets for recycled paper is the food-service market. Although it represents a small percentage of the overall market for recycled paper (<1% of the total recycled paper market), it is expected to grow faster than the overall demand for recycled paper packaging. With the economy improving, the food service market will start to see more growth, and that combined with increasing consumer awareness of litter and solid waste caused by discarded plates and glasses will drive the demand for recycled paper. Industry players are also getting active in this market as pressure from governments and various environmental groups keeps increasing.
    (Smithers Pira)
     
    01.08.2014   Successful Start-up of World's Largest TENCEL®¹ Production Plant in Lenzing    ( Company news )

    Company news -First sales volumes already successfully marketed
    -Technological milestone for TENCEL® , the fiber of the future
    -The TENCEL® production plant secures 140 jobs at the Lenzing site
    -Investment costs of EUR 150 mn and construction time of 24 months fully on schedule

    The Lenzing Group has successfully initiated production at its new TENCEL® jumbo production facility, the largest in the world, at the Lenzing site in Upper Austria. The plant is in the midst of a stable ramp-up phase. The feedback on the part of the market is very positive.
    “We are more than satisfied with the progression of the start-up curve. Based on the production process in the past days and weeks, we have reasonable grounds to believe that this latest generation of TENCEL® technology will completely fulfill our expectations”, says a confident Lenzing Chief Executive Officer (CEO) Peter Untersperger. “The successful start-up of production operations is a technological milestone for TENCEL®, the fiber of the future, and for the entire Lenzing Group. We are optimistic that we will be able to achieve the planned production target of 30,000 tons by the end of 2014. This new TENCEL® facility is decisive to ensure the long-term viability of fiber production at the Lenzing site and the basis for future investments in all markets”, adds Lenzing’s Chief Operating Officer (COO) Friedrich Weninger.

    This factory comprises the first time in which a single production line with an annual nominal capacity of 67,000 tons was installed. Previous TENCEL® production lines were usually only one-quarter as large. The new plant design incorporates lessons learned from the longstanding experience of three existing Lenzing Group TENCEL® production plants located in Austria, USA and Great Britain. As a consequence, the new TENCEL® plant in Lenzing represents the world’s leading generation of TENCEL® technology. The new design of the jumbo production line also enables investment costs to be maintained at a very competitive level of approximately EUR 150 mn (about EUR 2,200 per ton of capacity). This comprises the decisive approach to the further competitive scaling of TENCEL® fibers as a universally deployable textile and nonwoven fiber. The new, broader product portfolio on the basis of the TENCEL® technology successfully complements Lenzing’s specialty strategy.
    With a construction time of 24 months, Lenzing completely adhered to both the budgeted investment costs as well as all timetables. The TENCEL® production in Lenzing secures 140 jobs at the Lenzing site.

    Thanks to the new plant, annual nominal TENCEL® production capacity of the Lenzing Group will rise from 155,000 tons p.a. to about 220,000 tons. In this way Lenzing will further expand upon its global market leadership for TENCEL® fibers and offer its global customers new expansion opportunities in both the textile and nonwovens segments as well as new and innovative applications. “The related market development activities have already been in full swing for quite a few months”, states Robert van de Kerkhof, the Chief Commercial Officer (CCO) of Lenzing responsible for the fiber business. Moreover, new technical applications will be opened up and massively expanded in the years to come.
    (Lenzing Papier GmbH)
     
    01.08.2014   The corruDUR® corrugating roll auxiliary drive from BHS Corrugated    ( Company news )

    Company news The corrugating roll modules are the “heart” of each corrugator.
    In order to increase the production safety of the corrugator, BHS Corrugated further developed the corruDUR® corrugating roll auxiliary drive. The new housing with integrated sealing system and durable motor contributes to high production safety.
    The corruDUR® corrugating roll auxiliary drive from BHS Corrugated ensures the immediate production readiness of the rolls, so that they are pre-heated evenly and no loss of time or limitations are experienced at the start of production.
    The delivery of the corruDUR® corrugating roll auxiliary drive includes all necessary components required for assembly including a cartridge of high-temperature grease. The pre-assembly enables an easy and fast installation.
    (BHS Corrugated Maschinen- und Anlagenbau GmbH)
     
    31.07.2014   Another Yuen Foong Yu's PMP Intelli-Tissue® 1600 brought on stream    ( Company news )

    Company news In April 2013, after announcing a massive expansion plan which included investing over 260 mln US dollars in Taiwanese and Chinese plants, Yuen Foong Yu corporation has placed an order for four (4) new PMP Intelli-Tissue® 1600 machines. After delivering three (3) TMs in the past for YFY Beijing and Yangzhou mills, PMP Group has been chosen again to support YFY’s development. Taking all projects into consideration, the new order have made a total amount of seven (7) complete, new PMP Group machines in the YFY fleet. Therefore, it is our pleasure to announce that on July 3rd, at 5:40 PM local time, the first from four Intelli-Tissue® 1600 machines has been brought on stream as planned.
    The new 2.8 m width CF tissue machine (PM#7) of operating speed 1600 mpm and daily capacity of 75 t, has been delivered to the Yangzhou mill in China. The machine produces virgin fiber-based tissue in the basis weight range at reel from 13-31.3 gsm for conversion into facial tissue, toilet rolls and kitchen towels. The scope of supply covers stock preparation, entire tissue machine (Intelli-Jet V® headbox, Intelli-Former® Crescent Former, Intelli-Press® with 16’’ steel YD and high efficiency steam hood and Intelli-Reel®) including also auxiliary systems like mechanical drives, lubrication system, steam & condensate, dust removal system, as well as controls and start-up services.
    This was the first out of four start-up’s that are scheduled for 2014/2015. Both PMP Group and YFY team effort resulted once more in an exquisitely fast start-up and a first Jumbo Roll that was reeled without any paper breaks. Experience gathered during the PM#7 start-up allows to anticipate that the following ones will be equally successful and will continue a fruitful partnership based cooperation between PMP and YFY.
    (PMPoland S.A.)
     
    31.07.2014   Voith modernizes pulp drying machine at BSC    ( Company news )

    Company news Voith has successfully completed the modernization of the pulp drying machine (PDM) at BSC - Bahia Specialty Cellulose, located in Camaçari, state of Bahia. Voith’s solutions were installed in mid-March, during a total machine turnaround that lasted seven days.
    The main goal of the modernization was to improve quality and increase the value added to BSC's acetate cellulose. Voith's technical team installed a new shoe press with tilt control and other equipment to upgrade various systems at BSC.
    For BSC, the main benefit of the modernization will be the improved pulp quality, which will enable the company to serve its existing customers better and to open up new markets. “Now BSC will be able to rely on a greater array of tools to adjust quality of the final product. And because Voith was able to install all of the required components during the total machine turnaround, the company's production was not affected. It was a great challenge, and we were able to complete it successfully", points out Leunis Teixeira Rocha, Project Manager at Voith Paper.
    (Voith Paper GmbH & Co KG)
     
    31.07.2014   Domtar Corporation reports preliminary second quarter 2014 financial results    ( Company news )

    Company news Second quarter results impacted by scheduled maintenance and lack-of-order downtime
    (All financial information is in U.S. dollars, and all earnings per share results are diluted, unless otherwise noted.)

    -Second quarter 2014 net earnings of $0.61 per share
    -Lack-of-order downtime totaling 51 thousand tons of paper
    -Cash flows provided from operating activities totaling $104 million

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

    Domtar Corporation (NYSE: UFS) (TSX: UFS) reported net earnings of $40 million ($0.61 per share) for the second quarter of 2014 compared to net earnings of $39 million ($0.60 per share) for the first quarter of 2014 and net loss of $46 million ($0.69 per share) for the second quarter of 2013. Sales for the second quarter of 2014 were $1,385 million.
    Excluding items listed below, the Company had earnings before items1 of $40 million ($0.61 per share) for the second quarter of 2014 compared to earnings before items1 of $42 million ($0.65 per share) for the first quarter of 2014 and earnings before items1 of $16 million ($0.24 per share) for the second quarter of 2013.

    Second quarter 2014 items:
    -None

    First quarter 2014 items:
    -Closure and restructuring costs of $1 million ($1 million after tax); and
    -Negative impact of purchase accounting of $3 million ($2 million after tax).

    Second quarter 2013 items:
    -Litigation settlement of $49 million ($46 million after tax);
    -Closure and restructuring charges of $18 million ($13 million after tax); and
    -Charge of $5 million ($3 million after tax) related to the impairment and write-down of property, plant and equipment.

    Commenting on the second quarter results, John D. Williams, President and Chief Executive Officer, said, "While paper productivity improved from the first quarter, we took fifty-one thousand tons of lack of order downtime, which resulted in higher unit costs. Our pulp business benefited from good price momentum and we shipped over ten thousand tonnes from inventory. However, these benefits were more than offset by seasonally higher maintenance activity in our pulp mills."
    Mr. Williams added, "In our Personal Care segment, results during the quarter were negatively impacted by higher raw material costs. Nevertheless, the integration of Indas is progressing well and it is performing in line with our expectations. In addition, our capacity expansion plan continues to ramp up and we are currently in the process of launching new products for strategic customers."

    The decrease in operating income before items in the second quarter of 2014 was the result of higher costs for planned maintenance, lack-of-order downtime in papers, lower paper shipments and overall unfavorable exchange rates. These factors were partially offset by lower energy costs, lower selling, general and administrative expenses, and higher average selling prices for paper and pulp.
    When compared to the first quarter of 2014, manufactured paper shipments decreased 3.1% and pulp shipments increased 5.7%. The shipments-to-production ratio for paper was 99% in the second quarter of 2014, compared to 100% in the first quarter of 2014. Paper inventories increased by 9,000 tons while pulp inventories decreased by 10,000 metric tons at the end of June when compared to March levels.

    LIQUIDITY AND CAPITAL
    Cash flow provided from operating activities amounted to $104 million and capital expenditures were $56 million, resulting in free cash flow1 of $48 million for the second quarter of 2014. Domtar's net debt-to-total capitalization ratio1 stood at 32% at June 30, 2014 compared to 33% at March 31, 2014.

    OUTLOOK
    Our paper volumes are expected to decline with market demand while global softwood pulp markets are expected to remain balanced. Domtar will continue to closely monitor its inventory levels and balance its production with its customers' demand. The ramp-up of the new production lines are expected to positively impact the Personal Care business results towards the end of the year. Input costs are expected to stay relatively stable for the second half of 2014.
    (Domtar Inc.)
     
    31.07.2014   SKG Q2 and H1 2014 Results    ( Company news )

    Company news Smurfit Kappa Group plc (“SKG” or the “Group”) announced results for the 3 months and 6 months ending 30 June 2014.

    Picture: Gary McGann, Smurfit Kappa Group CEO

    Highlights
    -Pre-exceptional EPS growth of 46% year-on-year with EBITDA margin expansion to 14.3% for the first six months
    -Robust capital structure with annualised cash interest reduced to €135 million
    -Strong free cash flows supporting the delivery of previously announced capital allocation decisions
    -Interim dividend increased by 50% to 15.375 cent reflecting confidence in future performance
    -Recycled and kraftliner containerboard price increases announced

    Performance Review and Outlook
    Gary McGann, Smurfit Kappa Group CEO, commented:
    “In the second quarter the Group has delivered EPS of €0.34, a strong EBITDA result of €295 million and continued EBITDA margin expansion. This has been achieved in spite of weaker than expected European containerboard pricing. The results reflect the resilience of SKG’s earnings profile underpinned by its integrated model together with the benefit of its geographic diversity. The Group’s return on capital employed of 14.3% validates the continued judicious approach to accretive capital investments and the continuous delivery on its cost take-out targets.
    “As a result of continued demand growth, a fundamentally stable containerboard supply outlook and consistently high recovered fibre costs, SKG has announced containerboard price increases from 1 August in recycled containerboard and from 1 September in kraftliner. These initiatives will provide support to corrugated pricing, providing scope for further corrugated price recovery into 2015.
    “The Group’s operations in the Americas are performing well with volume growth expected to improve through the second half of the year.
    “The Group’s particular sales approach to international customers in both Europe and the Americas is continuing to make an impact in these markets with customers increasingly seeking a global and environmentally accredited partner for their packaging solutions.
    “The Group is pleased to confirm a 50% increase in the interim dividend to 15.375 cent, reflecting confidence in its future performance.
    “The continued delivery of strong free cash flows in the first half underpins SKG’s capacity to drive its medium term capital allocation initiatives through the cycle. With earnings growth expected in 2014, alongside considerable cash interest reductions year-on-year, the Group is increasingly well placed to deploy capital to enhance returns for shareholders.”
    (Smurfit Kappa Group Headquarters plc)
     
    30.07.2014   Lecta Merchanting Division announces a price increase in Coated woodfree and other paper grades    ( Company news )

    Company news Lecta Merchanting Division announces a price increase for deliveries of its coated woodfree paper and other grades effective early September 2014.
    The progressive erosion in margins have forced Lecta Merchanting Division to apply adjustments that will range between 6 and 9% depending on the grade and that will be applied to all deliveries in its markets in the different channels.
    Our customers will be informed personally by our sales teams, who will provide any further information they should require.
    (Lecta Group)
     
    30.07.2014   Packaging Corporation of America Reports Record Second Quarter 2014 Results    ( Company news )

    Company news Packaging Corporation of America (NYSE: PKG) reported second quarter net income of $100 million, or $1.01 per share. Second quarter net income included after-tax charges for the Boise integration and DeRidder mill restructuring of $14 million, or $0.15 per share, including cash charges of $2 million, or $0.03 per share, and non-cash charges of $12 million, or $0.12 per share. Excluding special items, second quarter 2014 net income was $114 million, or $1.16 per share, compared to second quarter 2013 net income of $71 million, or $0.73 per share, and first quarter 2014 net income of $106 million, or $1.08 per share. Details of special items are shown in the schedules included with this press release. Second quarter net sales were $1,468 million compared to second quarter 2013 net sales of $800 million and first quarter 2014 net sales of $1,431 million.

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

    Excluding special items, the $0.08 per share increase in second quarter 2014 earnings, compared to first quarter 2014 earnings, was driven by increased sales volume ($0.07), lower energy costs ($0.07) and improved prices and mix ($0.05), partially offset by higher annual outage repair costs ($0.04), a higher tax rate ($0.02), increased depreciation expense ($0.02) and higher inventory consumption costs from extreme weather that were capitalized in inventory in the first quarter ($0.03).

    In the packaging segment, EBITDA in the second quarter of 2014, excluding special items, was $259 million on sales of $1,145 million. Corrugated products shipments were up 4.8% compared to the first quarter, and excluding Boise, PCA shipments were up 5.5% in total and 3.8% per workday compared to the second quarter last year. With strong internal demand, PCA reduced its outside sales of containerboard by 8,000 tons compared to last year’s second quarter. Containerboard production was 846,000 tons, up 25,000 tons compared to the first quarter of this year.

    In the paper segment, EBITDA in the second quarter of 2014, excluding special items, was $45 million on sales of $295 million. Office paper shipments were down 2%, or 4,000 tons, compared to last year’s second quarter, and printing and converting and pressure sensitive paper shipments decreased by 26,000 tons 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 “We had an outstanding quarter driven by strong corrugated products volume, higher prices and lower costs. We also successfully completed annual maintenance outages at three of our mills. Synergy realization from the Boise acquisition at both our mills and box plants was also ahead of our projections as we continued to implement a broad range of actions to improve productivity and reduce costs. While office papers volume declined slightly, our overall paper segment EBITDA margins improved to over 15%.”
    “Looking ahead to the third quarter, we expect higher sales volumes and lower operating costs from both higher synergies and less scheduled annual mill maintenance downtime. These items will be partially offset by higher amortization of annual outage repair costs, higher electricity prices, higher freight and chemical costs, and increased depreciation expense. Considering these items, we expect third quarter earnings of $1.25 per share.”
    (PCA Packaging Corporation of America)
     
    30.07.2014   Cheng Loong invests in new tissue line from Voith     ( Company news )

    Company news Voith and Cheng Loong Corp. signed the tissue machine contract for Cheng Loong TM 16 on July 18, 2014 in Taipei, Taiwan. This order continues the successful partnership between the companies Cheng Loong and Voith.
    The TM 16 will be installed in Chupei, Taiwan, and will start up in September, 2015. It is based on a VTM 3 tissue machine concept from Voith and the scope of supply contains the newest technology which consists of a single-layer MasterJet Pro T headbox and the NipcoFlex T shoe press for reduced energy consumption. Furthermore, an 18-foot steel Yankee cylinder for best heat transfer and thus optimum thermal drying efficiency as well as a high-performance steam hood and the MasterReel reel belong to the scope of supply. Also included in the delivery are forming and press fabrics.
    TM 16 will produce high-quality dry crepe toilet paper and hand towel with a wire width of 3,796 mm and a design speed of 2,200 m/min. As technology leader, Voith focuses on less energy consumption, less fiber usage and more flexibility in operation to fulfill industry demands. With the signing of this contract with Cheng Loong, Voith will strengthen its leading position in innovative technologies for the tissue industry.
    (Voith Paper GmbH & Co KG)
     
    30.07.2014   QuadTech and Gallus partner to offer automated color control and productivity benefits    ( Company news )

    Company news QuadTech’s SpectralCam systems to enable Gallus press owners to reduce waste, increase productivity and achieve rapid ROI

    Picture: The QuadTech SpectralCam™ delivers L*a*b* data for precise,
    cost-effective color management.

    QuadTech announced a new partnership with the Gallus Group (St. Gallen, Switzerland), to provide QuadTech closed-loop color control and color measurement systems for its offset, flexo and gravure presses. Utlizing QuadTech technology, Gallus customers can now quicken make-ready and offer ultimate print quality and productivity, with in-line color management.
    With a typical ROI of less than two years, QuadTech color control systems are now an essential consideration for many web printers looking to meet changing customer requirements and demands for high color standards, with consistent repeatability from run-to-run and site-to-site.
    Dr. Thomas Weber, Supplier Relationship Management at Gallus comments, “Gallus has vast market experience and the widest customer base in the label printing industry. However, we recognized the opportunity to partner with QuadTech to provide our customers with state-of-the-art spectral color measurement and color control systems, with the automation to drive further reduction in make-readies and savings in valuable substrate waste.”

    Designed for offset printers, the QuadTech® Color Control System with SpectralCam™ provides automated, in-line, closed-loop color control. On-the-fly and at full press speeds, it adjusts ink keys to maintain specified color targets, preventing avoidable waste and operator inaccuracies.
    Flexo and gravure printers can also benefit from the QuadTech® Color Measurement System with SpectralCam™, which enables in-line monitoring of all packaging substrates, including challenging translucent, transparent and reflective films. Color variations are sent to the operator in real-time to change color specifications, eliminating press stoppages and the manual process of removing sections of the web to measure color.
    The ability to control color on problematic substrates such as films has been a significant objective for the printing industry. QuadTech has been able to solve this, by utilizing its web stabilizer to remove common issues of web movement and substrate corrugation. The QuadTech web stabilizer measures substrates over a certified BCRA ceramic tile, for a constant known backing, and momentarily stabilizes a small surface area of the substrate with a high pressure vacuum. This enables accurate color measurement on very thin, transparent and translucent films – ideal for self-adhesive labels, monofoil labels, wet-glue and laminates.
    Stephan Doppelhammer, QuadTech Market Manager for Packaging, says, “Gallus and QuadTech are perfectly aligned in the drive to create solutions that maximize customer benefits and profitability. We are delighted to offer a faster way for Gallus customers to achieve and maintain perfect color, for guaranteed high-quality output, optimal performance, cost savings and fast ROI.”

    QuadTech introduced the technology to the Gallus’s worldwide sales force during the world sales meeting and will showcase the SpectralCam systems at Gallus Innovation Days, September 23rd-25th 2014.
    (QuadTech Corporate Headquarters)
     
    30.07.2014   Extending the range of diaphragm valves for the GEMÜ 673 series    ( Company news )

    Company news Originally, this specially sealed version was developed from the GEMÜ 601, 612 and 673 basic types to suit particular customer requirements, and the new GEMÜ 673P9 version will now extend the current portfolio.
    The manually operated valve is available in nominal sizes DN 8 to DN 50, and has an additional seal provided by silicone O-rings which seal the interior of the bonnet housing from the outside. This prevents, among other things, lubricant which is normally used for lubricating the spindle, from leaking when autoclaving. It also prevents moisture and dirt from entering the bonnet interior.
    The GEMÜ 673P9 diaphragm valve is autoclave-capable and sterilizable, as well as CIP/SIP capable.
    As with the basic types, a standard seal adjuster and optical position indicator are also integrated in the new version. Thanks to their compact design, the valve bonnets are also suitable for use on multi-port valve blocks and tank valves.
    (GEMÜ Gebr. Müller Apparatebau GmbH & Co. KG)
     
    30.07.2014   Two Esko innovations to receive prestigious Printing Industries of ...    ( Company news )

    Company news ... America 2014 InterTech™ Technology Awards

    Esko Full HD Flexo and Esko Equinox are milestones in a culture of innovation, resulting in seven InterTech awards over the past ten years

    Esko (www.esko.com) announces that Esko Full HD Flexo platemaking system and Esko Equinox, Esko´s solution for the implementation of extended gamut – or fixed inkset – printing, are both recipients of 2014 Printing Industries of America InterTech™ Technology Awards. Since 1978 the InterTech™ Technology Awards, sponsored by Printing Industries of America, have honored the development of technologies predicted to have a major impact on the graphic arts and related industries. More than 80% of technologies that receive an award experience continued commercial success in the marketplace.

    These are the sixth and seventh InterTech awards Esko solutions have received over the past ten years. Other recipients include Esko WebCenter (2006), Esko DeskPack 3-dX (2007), Esko Neo (2008), Esko Studio Toolkit for Shrink Sleeves (2011) and i-cut Suite (2012).

    “We are very honored to receive two awards from Printing Industries of America this year. Esko has a legacy of listening to our customers and using our ingenuity to develop products – very often new product concepts or categories – that offer our customers tremendous added value,” explains Carsten Knudsen, Esko President and CEO. “Esko’s insistence in investing a much higher portion of our budget than the industry average into R&D every year helps to support our continuous innovation helps to fuel these products that result in competitive advantages for our customers.”

    Esko Full HD Flexo: superior flexo printing plates
    Esko Full HD Flexo is a platemaking system for superior flexo printing for all packaging applications. It utilizes a patented, fully digitally controlled platemaking system combining high-resolution 4000ppi imaging with a unique inline UV main exposure unit. An LED-array delivers UV power density strong enough to fully control the plate polymerization process during main exposure. For the first time, flexo plates are imaged, exposed and delivered directly to the plate processor, without need for light table exposure With Full HD Flexo, flexo platemaking has become a true “Computer to Plate” process: no lamination, no films, and no extra steps with light tables. No special consumables are needed, and it is not proprietary: it works with all popular digital flexo plates and sleeves. Everything is done in the CDI imager. Plates are ready for processing after unloading. Full HD Flexo has had a positive impact on efficiency and cost. Press changeovers are faster and downtimes are reduced. Substrate selection is less critical.

    Full HD Flexo also offers consistency, because Inline UV technology maintains consistent, digitally controlled UV light output throughout the entire plate, while lamps in a bank exposure frame continuously age and need frequent replacement every few hundred hours. Bank exposure frames also deliver different UV output over the entire frame area. “The judges noted that the inline UV technology is more controllable,” notes Mark Bohan, Vice President, Technology and Research, Printing Industries of America.

    “The judges also considered Full HD Flexo plate imaging a much more flexible process, with the ability to digitally control the generation of a dot shape, combining highlight capabilities of round dots with the solid ink lay down and print stability of ‘flat top’ flexo plates – which the judges agreed is not a trivial process. HD Flexo plates can produce images with complete, 0-100% dot coverage delivering a wider color gamut. It was also significant that the technology is upgradeable, already has a sizeable installed base, and is not plate specific,” adds Bohan. “The very strong customer letters demonstrated that HD Flexo is allowing flexo to challenge gravure and offset.” This is occurring among a wide array of flexible packaging, labels and corrugated printers worldwide.

    Esko Equinox: Proving the viability of extended gamut printing
    “While people tried to promote extended gamut printing in the past, it had been dedicated to offset, where printers might not have ample press units to take advantage of the technology. However, flexo presses have seven, eight or more units already – and it is significant for companies that are working to match brand colors,” states Bohan. “While this technology is used with other print methods, it was developed specifically for flexo. The industry is ready to embrace this technology. It beats managing specially-mixed inks.”

    Equinox Expanded Color Gamut (ECG) Technology is Esko’s patented technology for converting packaging graphics from CMYK and spot color to seven-color process. It is applied in the prepress department when preparing jobs for press. Converting entire files results in extremely close matches to spot colors, improved pictorial images, and the ability to print more colors than available ink stations on the press, resulting in improved image quality and brand impact. The major benefit, however, is realized in the pressroom as jobs print more economically and more consistently. The ability to create an infinite number of colors from 7 process colors promotes “gang” press runs – and the economic savings can surpass a million dollars per press per year. Customers using Equinox ECG technology report that they use 7-color process profitably in a production environment for flexible packaging as well as labels. This has enabled many of the world’s largest consumer product companies to convert entire product lines to expanded gamut.

    “The judges liked the smart filters, the math and color algorithms associated with Esko Equinox,” says Bohan. By quantifying only subsets of four-color combinations, Equinox 7-color profiles contain hundreds of times the amount of color data as a 7-color ICC color profile. These profiles are used to convert industry standard ink books into tint build books for a specific flexo press. Equinox also benefits from Esko HD and Full HD Flexo platemaking, which is able to extend the gamut by producing plates that can print dots from 0-100% while delivering consistent and reliable printing results from job to job.

    Esko Equinox is a major achievement because it moves flexographic printing a giant step closer to being the economical manufacturing process that the major CPCs of the world are demanding. “The fact that the judges had a lengthy discussion about a specific PowerPoint presentation shows both the interest and dedication. Everyone got involved with all the materials,” observes Bohan. “They also noted that all the Equinox print sample images were cleaner than 4-color images. But the benefit that was not lost with the judges was the economic advantages of extended gamut printing.”

    What is significant is that, while Full HD Flexo and Equinox are strong products successfully used separately, both offer a unique synergy when used together: the exceptional quality and reliable printing offered by Full HD Flexo, and the economics delivered by extended gamut printing that is significantly assured with Full HD Flexo plates.

    “Esko takes our role in the industry very seriously. We spend a good deal of time understanding the direction of the industry – and try to help to drive it – before we strategize products that truly are innovative but also have merit in the industry. It takes a lot of work to create a viable vision that drives the development of products like Full HD Flexo and Equinox. However, while we are flattered that these products have received acclaim this year, it is even more gratifying that many converters throughout the world are using Full HD Flexo plates and Equinox to produce exceptional packaging that offers a very powerful economic incentive,” concludes Knudsen.
    (EskoArtwork Belgium)
     
    30.07.2014   The Label Academy to Provide Education and Training for the Future    ( Company news )

    Company news A new e-learning initiative for the label community

    In today’s knowledge based economy, education and competence management are key to the future success of any business, and the label industry is no exception. This applies to all levels and functions in the company, from management to operations. At the end of 2012, the FINAT Board endorsed a new initiative designed to align education and training programmes for operators in the label industry. Two years later, the Label Academy is ready for take-off.

    Historically, the printing industry was regarded as having one of the best education and training schemes of any industry within the developed world, with a good apprenticeship system, excellent printing colleges, experienced trainers, and a wide range of printing textbooks on a whole variety of printing processes, typesetting, pre-press, bookbinding and finishing operations. Printing was regarded as a highly skilled industry with some of the highest industrial-skill wages.

    Growing pressure on education
    The more printing has moved away from a craft-based to a technology, service and communications-based industry, the more high-end sectors such as self-adhesive have developed and grown and the higher the pressures on costs and margins, the less high quality and knowledge-based education and training we seem to do.

    Dedicated printing colleges in many parts of the world have all but disappeared, or they are not seen to be relevant to training for the self-adhesive sector.

    Knowledge challenges and opportunities
    Indeed, the self-adhesive label sector seems to have suffered perhaps more than many other sectors of printing, and it is perhaps not too difficult to see why. It has some of the widest ranges of materials to print on, it has the widest range of printing processes being used (often in combination on one press line) and it has the widest range of in-line finishing operations. There has been an increasingly sophisticated origination and pre-press processes and significant more challenges in terms of sustainability (adhesives and silicones, matrix and liner waste, etc.). Not to forget about the greater diverse selection of bar code types, QR codes, augmented reality and other interactive labels.

    Each week seems to bring new industry knowledge challenges, and opportunities. And the demands are increasing all the time, from new digital technologies, interactive labels, brand protection solutions, to new developments in intelligent and active labels.

    Enhanced education and training: transferring knowledge to the new generation
    This enhanced level of education and training needs to be done sooner rather than later, as many of the existing skilled and knowledgeable people that have grown with the industry over the past 20 or so years come towards retirement. We need to utilise their knowledge before it is too late. We need to bring in new skills and abilities to tell employees about the new demands on labels. We need to re-build a new and dedicated education and training base for the industry’s future.

    THE LABEL ACADEMY
    This is why the publishing, internet and marketing team at Tarsus, supported by a small group of knowledgeable and skilled industry specialists, are planning the launch of The Label Academy. Over the coming months the team will be working on finishing the first six or more (out of the first 20 proposed) education and training e-learning and support modules that aim to provide the basic knowledge requirements of the label industry employees of today and tomorrow.

    E-learning
    Initial e-learning modules will cover topics as diverse as Label Substrates, Label Printing processes, Die-cutting and Tooling, Origination and Pre-press, Digital Label Printing, Environment and Sustainability, the History of the Label Industry. The first of these Modules are scheduled to be available later this year for purchase or downloading through a new Label Academy website that is currently being developed.

    Over the coming months, a dedicated Advisory Panel will additionally be working on how best to establish an internet-based industry testing scheme and moving towards an industry-wide on-line certification process.
    The Label Academy: a supporting resource for existing education schemes
    It is also planned that existing industry suppliers, associations, colleges, training and employer schemes and programmes will be able to apply to become accredited training organisations using the new learning modules. The Label Academy is not looking to take over or interfere with existing label industry training, but rather to become a resource provider and support body for the global label industry – with global resource material written for training providers to use in any country or market.

    FINAT Board endorsement
    At the present time the proposed education and training resource being developed under the banner of The Label Academy has already been endorsed by the FINAT Board and is currently being studied by other label industry associations around the world.

    Who are involved in The Label Academy?
    In planning for a number of years, the new label industry education and training scheme has been developed and pioneered to-date by Mike Fairley, widely known as the label industry ‘Guru’. Perhaps not so widely known is that before founding Labels & Labelling he spent several years as a further education lecturer before joining PIRA, the Paper, Printing and Packaging Industry Research Association as Deputy Head of Training. In this capacity he acquired extensive experience in lecturing and writing training manuals and materials on many areas of printing, papermaking, labels and packaging. He further developed his educational credentials at the UK Government sponsored Paper and Paper Products Industry Training Board as Head of Information, and as a consultant to the International Labour Office, the Economist Intelligence Unit and to the EU.

    Complementing Mike’s undoubted training and industry knowledge in writing the new e-learning Modules are a team from 4impression (author of the FINAT Educational Handbook) under Paul Jarvis and Netherlands-based Converting Technology International of Sietze de Kievit, who have been piloting training material and courses on label substrates and tooling. They are also members of the Academy’s Advisory Panel. Other global specialists are likely to be co-opted as required for specific subjects or markets.

    Official Launch: Labelexpo Americas 2014
    From now onwards the first results of the work that has been undertaken to-date and the first e-learning modules to be produced will start to be announced and initial training and testing materials become available. The aim is to then have the official launch of The Label Academy at Labelexpo Americas in September.

    It is certainly hoped that the global label industry will support this exciting new initiative and strive to produce the better-educated and trained employees who will be needed for the successful and long-term future of the industry.

    The past brings future perspective
    Another way of learning is to have insight and an understanding of past accomplishments. A good way of gaining that knowledge is reading 'The Evolution of Labels and the Label Industry in Europe.' This book is the result of several years of research and writing by Michael Fairley and Tony White. Over 240 pages of text and historical illustrations they trace the history of labels and label production from early wooden presses printing on hand-made paper, through all the changes brought about by the Industrial Revolution during the 18th and 19th centuries – including continuous papermaking, cylinder presses, ink-making and inking rollers, early colour printing, the first cutting punches and dies – right through to the 21st century innovations of self-adhesive label materials, printing and converting, computerised origination and digital printing. The prestige limited hard cover edition book should be a must-read title for all those who have an interest in how the world of labels and label production has grown from its early origins to the present time.
    (FINAT)
     
    30.07.2014   X-Rite Pantone Hosts Two Successful Automotive Innovation Days in India    ( Company news )

    Company news Events showcase digital colour and appearance management solutions for automakers and suppliers

    X-Rite Incorporated and its wholly owned subsidiary Pantone LLC recently hosted two successful Automotive Innovation Days in India. These events were held in Pune and Delhi, and brought together automotive manufacturers and suppliers from around the region. At both events, X-Rite provided presentations, demonstrations, and discussions that gave attendees a deeper understanding of X-Rite Pantone’s suite of solutions that support the entire colour communications network in the automotive industry.

    Colour variations can occur at different stages in the automotive manufacturing process, including during distributed manufacture of parts and components. At the event, these colour challenges were discussed in detail, along with presentations about how X-Rite’s state-of-the-art solutions can solve these challenges. These solutions enable colour measurement on a variety of substrates and provide online colour measurement throughout the entire automative supply chain.

    In addition to presentations by X-Rite, partners from around the region also participated in the events. Archroma, a global leader in colour and specialty chemicals, presented its revolutionary solutions for automotive textiles. X-Rite’s dealers, Advanced Graphic Systems, Corpora, and Presto, each provided an informative introduction to trends and issues the automotive sector in India.

    Francesco Tomasello, VP EMEA Sales Channels, commented on the successful events, saying, “These events gave leaders in this industry an opportunity to better understand how X-Rite Pantone’s solutions – including instruments, software, services and standards - can better support the colour management requirements in the automotive industry. We were pleased with the attendance at the event. Everyone who attended came away with a greater knowledge about colour management.”

    Attendees expressed satisfaction with the event. Event attendees Vipin Mehta of Executive Paint Shop and Surabhi Gupta, Quality Paint Manager at Honda Cars India Ltd. said, “We found this seminar very informative. X-Rite introduced new technologies for colour and instrumentation that were extremely well presented. It was a wonderful event by X-Rite.”

    Another attendee, Yogesh Tanwar, Senior Manager QA at Machino Polymers Ltd., noted: “This was a great event. We appreciate hearing X-Rite present colour management solutions. The presentations were good, and it is wonderful to connect with others in the automotive industry at an event like this.”
    (X-Rite Europe GmbH)
     
    30.07.2014   New record on BHS Corrugated corrugator in Austria    ( Company news )

    Company news Recently we were informed by our BHS Corrugated customer DUNAPACK MOSBURGER about the new record at their plant in Straßwalchen, Austria.
    Our customer ran a total of 1,041,760 m² of corrugated board in 24 hours on a Volume Line of BHS Corrugated (working width 2.80 m). The average working width was 2.69 m. This corresponds to an average production speed of 269 m/min and an output of 43,406 m² corrugated board per hour.
    Produced were B, BC, C, E, EB as well as B-flute. During a period of 24 hours 40 paper grade changes and 150 order changes were performed on the corrugator.
    Congratulations to this extraordinary production performance!
    (BHS Corrugated Maschinen- und Anlagenbau GmbH)
     
    29.07.2014   Visit China Pavilion at TISSUE-ME 2014    ( Company news )

    Company news TISSUE-ME 2014 The 6th International Exhibition for tissue Paper,Hygiene Products& Coverting Industries , which will be held in October 22nd -24th, 2014 at Cairo International Convention Center (CICC), Cairo, Egypt.
    TISSUE-ME 2014 is the most dedicated event in the MENA for tissue paper and allied industries.
    It is the industry's 3-day premier event featuring paper industry key players and the latest and most comprehensive display of the manufacturers, professionals and traders for tissue, hygiene disposable products, machines and raw materials in Egypt and the Middle East.

    Visit China Pavilion at TISSUE-ME 2014
    Jinjiang Haina Machinery Co., Ltd is located in Jinjiang City Fujian Province in China, who is a professional manufacturer of household paper machinery specialized modern production enterprise.
    We professionally produce baby diaper machine, baby diaper pad machine, baby pull-ups machine, T-shape baby diaper machine, adult diaper machine, adult diaper pad machine, women sanitary machine, women sanitary pad machine, wet wipes machine, household paper packing machine. Product covers a wide range, technology continuously upgrade, meet with various types of enterprise customers’ requirements.

    Founded in 2004, located in Shanghai, China, Shanghai Yuliu Packaging Machinery Co.,Ltd. is a modern standardization company, which integrates design, manufacture, installation, calibrating, sale, aftersale and technical training, its annual value is about 6,500,000USD.main products include packing and sealing machinery, counting and stacking machinery and bagger, which are widely applied to pack and seal sanitary napkin, panty liner, baby diaper, adult diaper, underpad, wet wipes, facial tissue and toilet roll, etc.
    (Nile Trade Fairs)
     
    29.07.2014   Xeikon receives prestigious 2014 InterTech™ Technology Award for its ...    ( Company news )

    Company news ... breakthrough ICE Toner

    Toner specifically designed for heat sensitive label substrates
    is among 11 technologies recognized

    Xeikon, an innovator in digital color printing technology, announced today that it has received the prestigious 2014 InterTech™ Technology Award from the Printing Industries of America (PIA) for its breakthrough ICE toner, which is specifically designed for heat-sensitive substrates, such as Polyethylene (PE) face stocks, thermal transfer labels and In Mold labels (IML).

    The InterTech Technology Awards recognize ground-breaking technologies that are predicted to have a major impact on the graphic arts and related industries. According to PIA, more than 80 percent of the technologies that have received this award experience continued commercial success in the marketplace. The PIA is the largest graphical arts trade association, representing an industry with about 1 million employees and thousands of member companies.

    Xeikon’s ICE toner was selected based on its innovative attributes for printing on heat-sensitive substrates and the likelihood of advancing the performance of the graphic communications industry. InterTech Award recipients will be recognized at the Premier Print Awards and InterTech Technology Awards gala on Sept. 28, in Chicago, IL.

    Xeikon has received the InterTech Award multiple times in the past. Most recently, Xeikon had received the award in 2012 for its Xeikon X-800 VariLane technology, which allows label converters to create digital imposition templates for labels of different SKUs, and different sizes, within the same print run, thereby reducing material waste and increasing productivity.

    “This is a great honor and a huge credit to our entire organization, from research and development to sales,” said Todd Blumsack, Xeikon’s VP of Sales and Marketing – North America. “All of our innovations, including the ICE toner, are customer-driven. Label converters wanted dry toner technology to be capable of printing on heat sensitive substrates, while retaining our 1200x3600 dpi imaging resolution, full rotary imaging, food safety and the capability to print on conventional substrates without the need for any pre-treatment. We’re extremely happy to see that the judges have recognized our efforts.”

    Based on Xeikon’s proven QA toner technology, the ICE toner is perfectly compatible with all the press models of the Xeikon 3000 Series of label and packaging presses.
    (Xeikon Manufacturing NV)
     
    29.07.2014   Papyrus to increase prices for coated papers in Europe    ( Company news )

    Company news Papyrus has been experiencing a long period of decreasing prices and continuous profit deterioration within the coated woodfree paper sector. A continuation of this situation is unsustainable. To secure the long term future of the company and the availability of coated papers, Papyrus announces in local markets a price increase for coated woodfree reels and sheets of 8% as of September 1, 2014.
    (Papyrus AB)
     
    29.07.2014   Further investment of around €40 million in Brazil     ( Company news )

    Company news Air Liquide will invest around €40 million in a new Air Separation Unit (ASU) that will supply Klabin, Brazil’s biggest paper manufacturer, with oxygen.
    Under the terms of this agreement, Air Liquide will invest around €40 million in a new ASU that will supply more than 160 tonnes of oxygen per day to Klabin’s new factory located in Ortigueira, as well as to Klabin’s other site in Telêmaco Borba, both located in the state of Paraná. The oxygen produced by Air Liquide’s ASU will be used to process and whiten pulp in a more efficient and environmentally friendly manner.
    This unit will be designed and built by Air Liquide Engineering and Construction teams, using state-of-the-art technologies that offer energy efficiency as well as optimal performance and safety.
    In Brazil’s South Region, Air Liquide already serves approximately 3,000 customers through 12 production units. However, this will be Air Liquide’s first ASU in the state of Paraná. This new ASU will also allow Air Liquide to provide oxygen, nitrogen and argon to customers in the industrial and healthcare sectors in the regions of Paraná, Santa Catarina, Rio Grande do Sul and Mato Grosso do Sul. This investment will increase Air Liquide’s competitiveness locally, which will help to expand its presence in the region.
    Augustin de Roubin, Vice-President, South America and a member of Air Liquide’s Executive Committee commented: “We would like to thank Klabin for its trust. We are very proud to serve the growing needs of major Brazilian companies like Klabin and to help drive sustained economic growth in this rapidly developing region of the world. This new investment will strengthen our presence in the South Region. In the past three years, we invested more than €250 million in Brazil and we plan to continue our expansion in this country.”
    (Air Liquide S.A.)
     
    29.07.2014   Rottneros: INTERIM REPORT (JANUARY-JUNE 2014)    ( Company news )

    Company news -Profit after net financial items amounted to SEK 31 million for the second quarter of 2014, compared with a profit of SEK 20 million for the first quarter of 2014 and a loss of SEK -20 million for the second quarter of 2013. Profit after net financial items amounted to SEK 50 (-24) million for the first half of the year.
    -A strong market has led to that the average PIX price for NBSK continued to rise during the second quarter and amounted to an average of USD 924. The price increase in Swedish kronor amounts to ten per cent compared with the corresponding period of 2013. The price increase amounts to two per cent compared with the previous quarter.
    -Production continued to be stable at Vallviks Bruk during the second quarter, which resulted in lower direct costs and had a positive impact on the result.
    -The increase in working capital had a negative impact on cash flow of SEK 73 million, mainly due to the high level of invoicing in June. Cash flow from operating activities amounted to SEK -3 (-9) million for the second quarter of 2014. Net borrowing amounted to SEK -42 (-45) million on 30 June.

    Picture: Carl-Johan Jonsson, CEO of Rottneros

    CEO'S STATEMENT
    The journey continues - a strong first half year for Rottneros

    I would like to start by saying that I am very satisfied with our performance during the first six months of this year, which resulted in an operating profit of SEK 53 million, a level we have not been close to achieving since the first half year of 2011.
    Our strong focus on management by objectives and new working methods combined with clear leadership has brought good order and improved production availability. Stable market conditions together with our programme of change have resulted in a strong first half year.
    Our programme of change - Focus15 - continues to be pursued vigorously within our operations. New working methods have, among other things, resulted in more stable production and fewer production hours lost at Vallviks Bruk compared with previously. We are running several parallel projects to increase our capacity, which are expected to yield results after the annual maintenance shutdown in the autumn. The operation at Rottneros Bruk has performed well, with more stable production and continued good demand during the second quarter.
    We are launching an advanced leadership training programme in the autumn. Our work to develop modern, uniform leadership with clear management by objectives represents an integral component of our programme of change and is both a vital and central part of our plan to become a market leader.
    The paper pulp market remains stable and demand is being underpinned by the moderate recovery of the world economy. Capacity utilisation for long-fibre sulphate pulp was 93 per cent for the year, which must be considered good, and the price of NBSK has been USD 925 per tonne for some time now.
    In conclusion, I am looking forward to an exciting second half to the year and to seeing the future effects of Focus15.
    (Rottneros AB)
     
    29.07.2014   ExpoPrint 2014 trade show lives up to Heidelberg expectations    ( Company news )

    Company news -Customer orders from entire Latin American region
    -Enhanced productivity and greater flexibility top priorities for Latin American print shops
    -Offset and digital printing portfolios go hand in hand with Prinect software, Saphira consumables, and services

    Heidelberger Druckmaschinen AG (Heidelberg) is pleased with its showing at the ExpoPrint 2014 industry trade show that has just taken place in the Brazilian city of Sao Paulo. "The show over the past few days have met our expectations," says Harald Weimer, Member of the Management Board responsible for Sales and Services at Heidelberg. "Overall, we sense a greater willingness to invest throughout the region," he adds. Heidelberg also welcomed significantly more visitors to its trade show booth than four years ago.
    The key factors in the investment decisions made were greater flexibility in processing print orders and enhanced productivity thanks to more efficient equipment and integrated workflows. The company's offset and digital portfolios were of equal interest to visitors at the Heidelberg booth.The orders placed for Prinect, services, and consumables underline Latin American printers' eagerness to improve process integration and boost their overall performance.

    Trade show presentation geared to industry megatrends
    Over the seven days of the show, the Heidelberg "Discover HEI" presentation included a wide variety of offset and digital printing systems, the Prinect print shop workflow, Saphira consumables, and a comprehensive range of services. This was the company's response to the key requirements in the print media industry - high productivity for applications in commercial, packaging, and label printing, excellent flexibility when printing short and/or variable runs, combining offset and digital printing to best effect, enhanced efficiency through process integration, solutions for web-to-print applications, and green printing that also conserves resources.
    "ExpoPrint has demonstrated its position as the most important industry trade show in Latin America. It has met the company's expectations", concludes Weimer.
    (Heidelberger Druckmaschinen AG)
     
    29.07.2014   Pulp producer Altri Celbi, Portugal, achieves world record once again with ANDRITZ technology    ( Company news )

    Company news Following successful modernization of the pulp drying line by international technology Group ANDRITZ, Altri Celbi increased its production capacity from an average of 2,000 tons per day (air dry metric tons) to a peak value of 2,150 tons per day at the Leirosa mill, Portugal, on July 7, 2014.
    In terms of specific drying capacity, Celbi was thus able to break its own world record of 421 tons per day and meter of working width, established in May 2013 also with ANDRITZ technology, by achieving 440 tons per day and meter of working width on the 4.88 meter wide sheet drying plant.
    Based on these peak values to be achieved over periods of several days, Celbi will achieve average daily production of around 2,100 tons and a specific drying capacity of approximately 425 tons per day and meter of working width.
    After extensive upgrade work by ANDRITZ (including an upgrade of the pressure screening plant and the Twin Wire Former, and modification to the bale finishing area), the Celbi plant was started up again in February 2014 following a scheduled annual shutdown. In a next upgrade stage (installation of a new, second shoe press, dryer upgrade) during the first half of 2015, ANDRITZ will increase the capacity of the drying line for bleached eucalyptus kraft pulp to peak values of more than 2,300 tons per day and thus the specific drying capacity to over 470 tons per day and meter of working width.
    (Andritz AG)
     
    28.07.2014   Lecta to Increase CWF Prices in Early September 2014     ( Company news )

    Company news Lecta, the second largest European coated woodfree paper-manufacturing group, announces a price increase of 8% in its 2 side CWF papers.
    This price movement is essential in order to reach acceptable profit levels after months of continuously eroding profitability.
    The price increase will be applied to deliveries of both sheets and reels in the European markets, effective early September 2014.
    Our local offices in Europe will be in contact with our customers to provide specific information on how the price increase will be applied on a country by country basis.
    (Lecta Group)
     
    28.07.2014   BillerudKorsnäs: Stable second-quarter results    ( Company news )

    Company news CEO Per Lindberg (photo) comments on the development during Q2 2014:
    “We deliver a strong and stable result for the second quarter. Our adjusted operating profit reached SEK 467 million and our operating margin was 9%. Overall, I am pleased with our financial performance. The market place has been quite good with solid demand and stable prices within all business areas. Business area Packaging Paper has managed to keep the prices stable during the quarter in spite of increased capacity on the market, and has increased prices on new orders within the sack segments thanks to a seasonally strong demand. Within business area Consumer Board we have launched the next generation of Cartonboard products on the market, which has been very well received by customers. Business area Containerboard has delivered a stable result for the second quarter but is beginning to feel a real pressure from the increased capacity on the market.

    We continue with our ambition “Challenging conventional packaging for a sustainable future” with the aim of increasing the level of innovation and leadership. During the quarter we have received confirmation in several areas that we are right on target with our mission. Several countries are putting regulations in place for reducing the use of plastics in packaging. We offer sustainable alternatives to several plastic applications, and sustainability is our top priority. We have received recognition from both EcoVadis and "oekom research", meaning that the company is acknowledged for its sustainability work. During the quarter, we have also made a decision to further improve the environmental profile of the company through a major investment in Gävle. Following our ambition to increase innovation and product leadership, we have during the quarter decided to invest in next generation fluting at Gruvön, enhancing both product performance as well as machine capacity. On the more innovative side, BillerudKorsnäs and Berghs School of Communication are giving Spotify a physical form. It is this year’s edition of a packaging design contest for students at Berghs and this is the first time an online brand will be physically packaged.

    During the first half of 2014 we have delivered an operating margin of 10%, and a growth in sales volumes over last year with 4%, in line with our profitable growth targets and our long term strategy. The integration work has progressed as planned and as already communicated, the realisation of synergies is happening faster than first planned. All employees have done a fantastic work all across the company, in numerous different projects that constitutes the integration program. However, the pace of integration in combination with synergy-related incentives will increase the non-recurring costs for realising the synergies with approximately SEK 25 million for the year. It is my belief that this is money well spent.’’
    (BillerudKorsnäs AB)
     
    28.07.2014   Impressive market success in a difficult environment    ( Company news )

    Company news Expoprint 2014, the largest and most important trade show in Latin America, took place from 16 to 22 July. KBA manned a joint stand at the exhibition in São Paulo together with subsidiary Koenig & Bauer do Brasil and cooperation partners.

    Picture: Live print demos of a Rapida 105 attracted big crowds

    On a stand measuring 336m² the company presented cutting-edge sheetfed offset technology including the medium-format KBA Rapida 105, which is particularly popular in Asia and Latin America, and modern folding technology from MBO. The KBA stand was full of activity from the moment the trade show opened its doors with visitors flocking to see the print demos. A raft of decision-makers from Brazilian printing firms and print pundits from Argentina, Chile, Uruguay, Peru, Mexico and Columbia all visited the KBA stand.

    Live print demonstrations were carried out on six-colour press raised by 450mm (17.7in) with coater and delivery extension. It featured semi-automatic plate changers, CleanTronic Impact (combined blanket, impression cylinder and roller washing system), nonstop roller facility in the delivery as well as a board handling package and a maximum output of 16,000sph. The shaftless DriveTronic feeder and inking units which can be uncoupled are unique features from KBA. Colour density was measured by ErgoTronic ColorDrive directly at the press’ console.

    Rapida 105 and MBO folding systems in operation
    The Rapida 105 printed car posters that were very popular with the visitors in Brazil live several times a day, as well as KBA maps of the world, which have also proven to be in great demand. Some of the print samples showed matt-gloss effects using the drip-off technique. Together with dryer manufacturer AMS (Air Motion Systems), KBA presented innovative drying processes, such as HR-UV and LED-UV. This technology was shown recently at a well-attended customer event at the KBA plant in Radebeul. Presentations on workflow solutions and MIS systems were also made.
    The global rollout of the new M80 folder from MBO for flexible finishing continued with the unveiling of this folding machine in Brazil. There are numerous modular add-ons which can be retrofitted after inauguration, such as further buckle plates or patented slitter shaft cassettes. 16-page signatures in A4 format were produced live on the M80 at the trade fair.

    First-level vendor in sheetfed offset
    Koenig & Bauer do Brasil in São Paulo has developed into a first-level vendor for sheetfed offset presses. The Rapida 105 went to Industria Grafica Sul in Nova Candelária, Brazil, after the trade show. This is the firm’s second Rapida 105. A further, nearly identical Rapida 105 is currently being installed at Emibra in Suzano, São Paulo. This is the longstanding KBA user’s third Rapida. Brasilgrafica in Alphaville has invested annually in KBA technology since 2012 and in the meantime also has three Rapidas. Brasilgrafica recently received its first large-format press, a Rapida 145. However, this impressive press with seven printing units and two coaters is still unusual in the Brazilian printing industry. The established packaging printer APICE will receive a Rapida 106 that has similar kit and a two-colour Rapida 106 with coater is currently being fired up at Cartondruck Grafica in Blumenau. KBA is anticipating a boost to business over the coming months and years driven by Expoprint.
    (Koenig & Bauer AG (KBA))
     
    28.07.2014   Timofei Sokolenko Appointed Ilim Group Vice-President, Sales    ( Company news )

    Company news Timofei Sokolenko is appointed Ilim Group Vice-President, Sales effective July 14th.
    As a member of the first level team Timofei Sokolenko will be in charge of the development and implementation of effective strategies for sales as well as for day-to-day sales management. Timofei Sokolenko will report to Franz Marx, CEO Ilim Group.
    Victor Atamanov who previously held the position of Ilim Group Vice-President, Sales will become Advisor to Senior Management starting from July 14, 2014. His duties will include consulting on Sales, Marketing and Strategy related matters to members of the first level management team and to CEO of the company.
    (Ilim Group)
     
    28.07.2014   BHS Corrugated Belt Drum Exchange    ( Company news )

    Company news The BHS Corrugated belt drums are manufactured on the basis of highest quality standards. The surfaces of the belt drums are manufactured to meet the requirements for concentricity accuracy, and the lagging is glued in individual production steps. Both procedures are prerequisites for transportation of the belt through your Double Facer without any slips.
    We supply you with pre-finished upper and lower belt drums, including installation accessories, in a quick and convenient exchange procedure. With the BHS belt drums a reliable machine start is 100% guaranteed.
    Possible health risks that the removal and application of the lagging imply can now be eliminated. Lagging coming off or the formation of blisters are a thing of the past.
    After the installation, just send your used belt drums back to us. On request, we will be pleased to arrange the return transport for you – it is easy and convenient!

    You can install the belt drum yourself or have it installed by our BHS technicians. The exchange of both belt drums is possible within one day. Before the drums are exchanged, the belts are dismantled, which makes all machine components easily accessible. On this occasion an inspection of the Double Facer is recommended in order to detect and at the same time eliminate damage and wear in areas that are otherwise barely visible or accessible.
    (BHS Corrugated Maschinen- und Anlagenbau GmbH)
     
    25.07.2014   Suominen has completed the divestment of its Flexibles business area    ( Company news )

    Company news Suominen Corporation has completed the divestment of its flexible packaging business, announced on 11 July 2014. Flexibles business area will be excluded from Suominen’s financial reporting. Previously, Flexibles business area formed Suominen’s Flexibles segment.
    As stated in the announcement of 11 July 2014, Suominen will recognize due to the divestment, in accordance with the IFRS 5 standard, a non-recurring loss of approximately MEUR 4.5 in the second quarter result of 2014 of its discontinued operations.
    The divestment transformed Suominen into a company purely focused on nonwovens, in line with its strategic focus.
    (Suominen Corporation)
     
    25.07.2014   SUEZ ENVIRONNEMENT STRENGTHENS ITS POSITION IN THE INDUSTRIAL WATER ...    ( Company news )

    Company news MARKET WITH A 30 MILLION EUROS CONTRACT FOR KLABIN, THE WORLD’S LEADING PULP AND PAPER PRODUCER IN BRAZIL

    Degremont, a subsidiary of SUEZ ENVIRONNEMENT, was awarded a 30 million euros contract for the engineering, procurement and construction of water treatment facilities for Klabin, one of the main players in the Pulp and Paper industry in Brazil.
    Klabin is building a 2 billion euros Greenfield Kraft pulp mill in Ortigueira (Paraná State), south of Brazil, known as Puma Project. The start of the new plant’s production is forecast for the first quarter of 2016. With the new plant, Klabin’s production capacity will double
    until 2016. The mill will have an annual production capacity of 1.5 million tons, of which 1.1 million tons in short fiber and 400 thousand tons in long fiber, part of which is to be converted into fluff pulp.
    The main challenges for the Pulp & Paper industry rely in guaranteeing the water needs to ensure the continuity of production and adapting operations accordingly to market fluctuation while still ensuring reliability and high-level quality services for water treatment.
    In order to meet the high quality and quantity water needs, Degremont will provide a process water plant, equipped with the Densadeg® technology followed by Aquazur® filters, and a boiler feed water plant, equipped with Ion Exchange Process.
    Degremont’s proven expertise in water treatment for the Pulp & Paper industry, its experience in dealing with turn-key projects under tight schedule offering the optimum technologies and its ability to propose a very competitive commercial offer were determining factors in winning this new contract.
    With an hourly capacity of 5,900 m3 for the process water plant and 600 m3 for the boiler feed, the new facilities are planned to start up operations in October 2015.
    Marie-Ange Debon, Deputy Chief Executive Officer in charge of International activities for SUEZ ENVIRONNEMENT, says: “With this new success, the Group strengthens its position in the industrial water market, one of SUEZ ENVIRONNEMENT four strategic priorities for
    growth. The Pulp & Paper industry offers substantial opportunities for development and our goal is to keep expanding our activities in Brazil by offering value added services to the industrial market.”

    Recognized expertise in the pulp and paper industry in Latin-America
    With more than 20 references for the Pulp and Paper industry in Latin America, Degremont can boast itself as a leader in this sector. The last major reference is the engineering and procurement contract for the water treatment facilities (production of process water and
    demineralized water) at the Montes del Plata paper mill. In Uruguay, the Montes del Plata project is the largest private investment that the country has ever seen.
    (Degrémont Technologies Ltd)
     

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