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    12.08.2015   Bordeaux Introduces Printer Specific Ink Solutions at FESPA Mexico 2015    ( Company news )

    Company news Bordeaux unveil its UV, solvent and dye sublimation printer specific inks

    Bordeaux Digital PrintInk, a leading manufacturer of original inks and coatings with its leading resellers in Latin America will showcase printer specific solutions for Océ Arizona, Fujifilm Acuity, Roland, Mimaki, Mutoh, and Epson digital printers during FESPA Mexico (E40) August 20-22.
    On stand, visitors will witness the quality and outstanding colors of the dye sublimation and ECO Solvent inks. The demonstrated inks are printer specific, which enables zero downtime printer conversion to Bordeaux inks and no need for flushing or color profiling.

    “Expending our presence in Latin America, Bordeaux has established two business co operations with PAPEL and ESS – A leading distributors in the printing industry”. Says Guy Evron, Marketing Manager at Bordeaux. Furthermore, “we are excited to offer our printer specific solutions in response to the growing demand for sustainable solutions for the wide format printing industry”.

    The latest UV ink solution for the Océ Arizona printer series- PLASMA AR and Fuji Acuity – PLASMA AC, the industry’s first plug and print solutions for UV printers can also be seen on stand. These inks are formulated to achieve optimum adhesion; high quality color and performance as well as long-term outdoor durability with multiple rigid, flexible and super-flexible substrates.

    Bordeaux’s visitors will benefit from a special offer for newly converted wide format printers. Offer is valid for both solvent and UV inks and only during FESPA Mexico show.
    (Bordeaux Digital PrintInk Ltd)
    12.08.2015   SURTECO confirms sales outlook – earnings target adjusted due to additional costs ...    ( Company news )

    Company news ... for relocation activities

    SURTECO SE – one of the leading global manufacturers of decorative surface materials – succeeded in improving consolidated sales within the projected framework by 4% to € 327.2 million (1st half year 2014: € 315.3 million) during the 1st half year of 2015. Both Strategic Business Units contributed to this positive development. By contrast, earnings in the months of April to June were impacted negatively by enhanced costs entailed by integration processes including additional construction measures related to reorganization, and a temporary surplus of personnel. These costs were incurred by relocation of decorative printing to the Buttenwiesen site. The operating result (EBITDA) at € 34.6 million was therefore below the comparable value of € 39.6 million for the equivalent year-earlier period. The same applies to the pre-tax result, which achieved a value of € 16.8 million (1st half year 2014: € 17.8 million) after the first six months. Since higher costs are also anticipated for relocation and the increasing prices of raw materials, SURTECO is accordingly adjusting its outlook for earnings in the year overall in spite of the countermeasures that have meanwhile been initiated. SURTECO continues to forecast unchanged a slight increase in sales compared with the previous year (2014: € 618.5 million). Conversely, the pre-tax profit is not likely to be marginally above the year-earlier value after adjustment for restructuring expenses (€ 9.4 million) in line with expectations. Rather, it is projected to be in the range below € 30 million. The value of € 22.3 million actually posted before adjustment in 2014 will therefore be significantly exceeded.
    (Surteco SE)
    12.08.2015   Pöyry PLC: Interim Report 1 January - 30 June 2015    ( Company news )

    Company news HIGHLIGHTS JANUARY - JUNE 2015

    -The Group's order stock at the end of June was EUR 502.4 (482.4) million.
    -Comparable net sales were EUR 297.6 (285.2) million. The reported net sales in 2014 were EUR 303.5 million.
    -Operating profit increased to EUR 2.8 (-4.7) million. It was positive in all Business Lines except for the Regional Operations.

    "Our performance during the reporting period developed positively. Comparable net sales and operative result improved. Our enhanced sales focus resulted in a stable order intake despite a larger project assignment in 2014 in Brazil, which affected the comparable figure. The structural adjustments which were initiated earlier this year, especially in Central Europe and in Brazil, have continued as planned. Our increasing activity rate indicates improving operational efficiency as we continue pushing for sales and developing project management performance.

    Pöyry's comparable net sales in the first half of the year, excluding the business that was divested in Finland in June 2014, increased to EUR 297.6 (285.2) million. The figure increased in the Energy, Industry and Management Consulting Business Groups and remained stable in the Regional Operations.

    Consolidated operating profit increased to EUR 2.8 (-4.7) million. The figure improved in all Business Lines, especially in the Regional Operations and in the Industry Business Group. In the reporting period, operating profit was impacted by one-time items totalling EUR -2 million, which were recorded under the Regional Operations. These mainly include additional project losses recognised on a project originating from the former Urban Business Group, as well as expenses related to on-going arbitration proceedings in Brazil.

    Operating profit last year was burdened by one-time items totalling EUR -6 million and a write-off of the receivables from Venezuela amounting to EUR -14 million. The write-off and most one-time items were recorded in the Regional Operations and were related to project losses originating from the former Urban Business Group. In addition, operating profit included a gain of EUR +19 million from the divestment in Finland.

    The Group's order prospects remained solid. The comparable order intake was stable year-on-year and several mid-sized projects were secured during the period. The figure improved clearly in the Energy Business Group, where new orders were recorded in Asia-Pacific and the Middle East, as well as in the Industry Business Group, where order intake was good in both the chemicals and bio-refining business and the pulp and paper sector. It also increased in the Management Consulting Business Group mostly due to a higher number of projects in the area of operational excellence services. Order intake declined in the Regional Operations, where the figure increased in Central Europe but decreased especially in Latin America.

    Pöyry's order stock increased year-on-year to EUR 502.4 (482.4) million. It increased in the Management Consulting Business Group and particularly in the Industry Business Group, demonstrating the improving order intake since 2014. The figure was stable in the Energy Business Group and in the Regional Operations.

    The Group's unallocated costs developed in line with expectations, as we continued to streamline our cost structures in the global support functions."
    (Pöyry Plc)
    12.08.2015   Valmet to acquire tissue rewinder business from Massimiliano Corsini srl. Italy to strengthen ...    ( Company news )

    Company news ... its product portfolio

    Valmet and Massimiliano Corsini srl. have signed a Sale and Purchase Agreement of MC Paper Machinery and Focus Rewinding business to Valmet on July 31, 2015. The acquisition is estimated to be completed by August 6, 2015.
    The acquired operations mainly supply rewinders for tissue and non-woven machines. In the past years the net sales of the acquired business has been around EUR 10 million. The operations employ 33 people and are located in Pescia, close to Lucca, Italy.

    Combination of Valmet and MC Paper Machinery creates complete customer offering
    As a result of the acquisition, Valmet will have a more extensive product portfolio and becomes a stronger technology and services company in its field. The acquisition strengthens Valmet's competitiveness by combining tissue making equipment from stock preparation to rewinding, process know-how, automation and services into one customer value-adding entity.
    Valmet and MC Paper Machinery have had a long-term partnership and a large amount of MC Paper rewinders have been installed in connection to Valmet tissue machines.
    The company being acquired is a strong business, with established customer relations and a high level of technology and know-how, including the successful Focus technology. During the last 20 years MC Paper Machinery has become world leading in designing and manufacturing rewinding plants specifically devoted to the field of non-woven and tissue paper.
    Through the acquisition, Valmet strengthens its offering and continues to develop its business.

    Strengthened tissue market position
    "Valmet and MC Paper Machinery share the same determination to offer leading technologies, with highest customer satisfaction. Through the acquisition, Valmet will become a technology and service company with a wider offering of high technology equipment for tissue production. By combining tissue paper and re-winding machinery with process know-how, automation and services and global presence from both companies, we can serve the tissue producers even better than before and move our customers' performance forward," says Anders Björn, Vice President of Valmet's Tissue Mills Business Unit.
    (Valmet Corporation)
    12.08.2015   Kemira Oyj's Interim Report January-June 2015: Revenue growth with improved profitability    ( Company news )

    Company news Second quarter:
    -Revenue increased 15% to EUR 594.8 million (518.2) supported by the acquisition of AkzoNobel's paper chemicals business, completed on May 4, and favorable currency exchange rates. Revenues in local currencies, excluding acquisitions and divestments remained largerly unchanged.
    -Operative EBITDA increased 24% to EUR 74.7 million (60.2) with an improved margin of 12.6% (11.6%).

    -Revenue increased 10% to EUR 1,147.8 million (1,048.1).
    -Operative EBITDA increased 20% to EUR 141.1 million (117.7) with a margin of 12.3% (11.2%).
    -Operative earnings per share increased 10% to EUR 0.32 (0.29).
    -Kemira's outlook for 2015 is updated to include the acquisition of AkzoNobel's paper chemicals business. Kemira expects its revenue and operative EBITDA in 2015 to increase compared to 2014.

    Kemira's President and CEO Jari Rosendal (photo):
    "We had a strong second quarter with 15% revenue growth and improved operative EBITDA margin of 12.6%. Favorable currency exchange rates continued to contribute to the revenue growth. The acquired AkzoNobel's paper chemicals business has been consolidated since May 2015. We have succeeded well with business continuity and integration has started according to plan. Earlier communicated synergies are expected to start showing towards the end of the year.

    Organic growth in the Paper segment continued above-the-market at 4%. Growth was driven mainly by higher sales volumes across continental Europe and increasing pulp chemical deliveries to the new Montes del Plata pulp mill in Uruguay. I am glad to note that in the second quarter, Paper segment's profitability improved notably, despite the significant efforts put on the integration of a major acquisition.

    In the Oil & Mining segment sales volumes have been impacted by the significant reduction of shale drilling and fracking activity in the US. However, despite the decline of sales volumes, absolute operative EBITDA contribution remained at the level of the comparable quarter. In EMEA, we started first polyacrylamide shipments for the chemically enhanced oil recovery.

    The Municipal & Industrial segment's turnaround and revenue recovery continued and the segment delivered profitable growth in line with its strategic objective. Organic growth reached 3% driven by higher sales volumes in all regions and the operative EBITDA margin was more than 14%.

    I am satisfied with Kemira's progress in the first half of the year. Our businesses delivered solid results, despite the current slowdown of activity in shale operations in US."
    (Kemira, Paper Segment)
    12.08.2015   ContiTech Expands Product Portfolio for Printing Industry    ( Company news )

    Company news -Acquisition of the sleeve and roller manufacturer TEGU Walzen und Sleeves GmbH
    -All employees at the Waltershausen location retained

    International industrial partner and supplier for the printing industry ContiTech has acquired the German sleeve and roller manufacturer TEGU Walzen und Sleeves GmbH based in Waltershausen. "With this strategic step, we are continuing to expand our product portfolio for print shops while simultaneously completing our existing product range in the growing market for flexographic printing plates. This will enable us to respond even more effectively to customer requirements in the future," says Dr. Peter Scholtissek, head of the Elastomer Coatings business unit, explaining this strategic step and adding: "All 23 employees will be retained and thus become part of our successful ContiTech location in Waltershausen."

    TEGU boasts more than 80 years of experience in the industrial processing of elastomer materials – particularly sleeves, which have been produced since 1994. In the printing industry, they are used in the field of flexographic printing for continuous printing, in the packaging industry for example. TEGU Walzen also manufactures products for industrial applications. As a leading manufacturer and supplier of offset and digital printing blankets, ContiTech has been active with CONTI Laserline flexographic printing plates since 2012.

    "ContiTech and TEGU have been working together successfully for two years already. In the future, we want to work together to continue developing this line of business and to drive it forward on an international level. We are pleased that in Olaf Schaller, the former general manager and sales manager, we have a proven expert and specialist in this field on board," adds Stefan Füllgraf, who is responsible for flexographic printing plates at ContiTech.
    (ContiTech Elastomer-Beschichtungen GmbH)
    12.08.2015   Clean Up Begins at Huntsman's Uerdingen Site after Authorities say No Asbestos Found in ...    ( Company news )

    Company news ... Air, Dust Samples

    German authorities finished testing the debris from an incident at Huntsman’s Uerdingen, Germany site, and found all dust and air samples taken from the affected and non-affected areas to be free of asbestos, enabling clean-up to begin.

    Dust samples taken from the work clothes of firefighters also did not contain asbestos. Asbestos was present only in some damaged sections of building sheeting.

    On Wednesday, Aug. 5, at approximately 2 p.m. CET, a nitrogen tank exploded at Huntsman’s white pigment factory in Uerdingen, Germany, injuring 19 people. There were no fatalities.

    All of the injured personnel have been released from hospital and are under the care of their own doctors. Huntsman continues to provide assistance to the injured and their families.

    The buildings on site have been certified as safe and no structural damage was found. All of the roads around the site have been cleared and the removal of debris has begun. The exact timing of the cleanup is still to be determined, but all areas except for those in the vicinity of the explosion site should be completed by mid-August.

    Investigations into the cause of the incident continue with Huntsman cooperating with German authorities and the company conducting its own review. Preliminary results are expected in the coming weeks.

    The Uerdingen site, located 30 kilometers north of Dusseldorf, employs approximately 600 Huntsman associates and contractors. The site produces TiO2, copperas, iron oxide, and products used in the manufacturing of plastics, coatings, paper, laminate, catalysts and ceramics.

    Huntsman acquired the Uerdingen site on Oct. 1, 2014, as part of its acquisition of the Performance Additives and Titanium Dioxide (TiO2) businesses of Rockwood Holdi ngs, Inc.
    (Sachtleben Pigment GmbH)
    11.08.2015   Voith supplies complete process line for corrugated board base papers to Schoellershammer    ( Company news )

    Company news In April, Heinrich August Schoeller Söhne GmbH & Co. KG commissioned Voith with the supply of a complete process line for the manufacture of corrugating medium and testliner for its Schoellershammer paper mill, based in Düren, Germany.

    On the new system, Schoellershammer will produce packaging papers in a basis weight range of 80 to 120 g/m². The annual capacity of the new PM 6 will come in at 250,000 metric tons. This will double the manufacturer’s current capacity and will also provide the option to produce a larger share of papers with low basis weights. Demand is driven by producers of corrugated packaging board, with particularly strong growth in lighter paper grades. One of the key drivers is ever-increasing Internet commerce with its direct shipping to end consumers.

    The new PM 6 will be designed to a wire width of 6,300 mm and a speed of 1,200 m/min. Start-up is scheduled for the end of 2016. Voith’s scope of delivery includes the entire production line featuring state-of-the-art technology: The complete stock preparation to produce short and long fiber stock from 100% recovered paper, a DuoFormer Base with a MasterJet Pro G headbox including ModuleJet and a DuoCentri NipcoFlex press to increase surface quality on the face side, as well as a SpeedFlow sizing unit. The dryer section will be equipped with ProRelease+ and DuoStabilizers, ensuring stable web pickup. The scope of delivery further includes a MasterReel winder for master reels with a diameter of 3.8 m and a VariFlex winder.

    Voith will also supply the entire automation and clothing package. The order is rounded out with a five-year contract comprising services, fabrics and screen baskets.

    Key points for Schoellershammer in selecting its supplier were Voith’s reference projects in the field of sophisticated, light packaging papers, the supply of the entire manufacturing line and the overall concept, which takes the energy efficiency of the process into account.
    (Voith Paper GmbH & Co KG)
    11.08.2015   Revolutionary, energy-saving LED UV drying option for ROLAND 700 Evolution    ( Company news )

    Company news Multiple benefits for quick turnaround commercial litho printing

    The Energy-saving LED UV drying technology option supplied with the ROLAND 700 Evolution offers many benefits for printers, enabling more vibrant color and higher levels of productivity on a wide range of substrates, along with significant cost and environmental benefits and greatly increased viability for short-run printing. LED technology provides instant drying, on paper, synthetics or metalized stocks, and because it does away with the need for spray powder, it also offers significant environmental benefits.

    LED power and control units are compact and energy efficient, needing only 50 - 70% of the power required by LEC-UV and 20% - 30% of the power required by typically UV equipment, while occupying a significantly smaller footprint. These are completely integrated into press functionality, and segmentation of power output delivers further savings. LED drying also does away with marking issues on the press and combines higher color brilliance with more sharpness, while doing away with the need for protective coatings. The ink dries instantly through exposure to the LED light so no further surface protection is required. Because the LED process generates light with no heat, presses can operate with low pile temperatures with no sheet curling or other registration issues.

    Summing up the benefits of LED UV drying technology on the ROLAND Evolution, Manroland Head of R&D Stefan Finger commented:
    “The advantages of LED technology for the ROLAND 700 Evolution are threefold; higher print quality than we could ever have believed possible along with significant energy reduction and instant post production processing to deliver significant efficiency benefits for our customers.”
    (Manroland Sheetfed GmbH)
    11.08.2015   Inapa: Cooptation of Board Member and designation of CEO    ( Company news )

    Company news To comply with the law and applicable regulations, Inapa – Investimentos, Participações e Gestão, SA (“Inapa”) informs that following the resignation of Mr. José Manuel Félix Morgado, the Board of Directors approved, in accordance with paragraph b) of number 3 of article 393 of the Portuguese Companies Code, to co-opt Mr. Diogo Francisco Mendes Bastos Rezende as member of the Board for the current three-year term.

    It was also decided to appoint Mr. Diogo Francisco Mendes Bastos Rezende as Chief Executive Officer of INAPA.
    (Inapa - Investimentos, Participações e Gestão, S.A.)
    11.08.2015   Premier Paper announces purchase of the Advocate product brand     ( Company news )

    Company news The Premier Paper Group, the UK’s largest independent paper merchant with a nationwide network of regional stock holding branches, has announced that it has purchased the Advocate product brand from the administrators, after leading Fife-based paper producer, Tullis Russell Papermakers went into administration earlier this year.

    The announcement ensures that not only Premier maintains product continuity and supply of the brand and its qualities to the UK market, but also ensures that the Advocate range will still be produced to the same exacting standards and recipe. So the Advocate product range will still retain all the unique characteristics and qualities, maintaining its excellent product reputation.

    Advocate was already available exclusively through Premier, and the deal to purchase the brand will see Premier Paper continue to stock and distribute Advocate Smooth Natural White, Smooth Xtreme White and Laid Xtreme White across a wide variety of sizes and weights as well as matching DL 100gsm envelopes.

    Premier is also planning to extend the range further with the addition of digital sizes for colour laser and HP Indigo presses, expanding the product choice for its customers.

    Commenting on the announcement of the Advocate deal, Premier Paper Group Marketing Director Dave Jones stated; “Advocate is a very important brand for many customers and I am pleased that we have managed to secure the brand and all the associated intellectual property rights. This means that customers can be confident that Advocate, made to the same recipe and exacting standards, will continue to be available from the Premier Paper Group”

    Advocate is a leading corporate communications paper, ideally suited for prestigious text and cover applications, designed to make your business stand out. It is versatile with a choice of distinctive finishes to suit your needs. Use Advocate for corporate identity, correspondence, stationery or business cards. Each item of the comprehensive range offers its own unique appeal.

    Smooth Xtreme White combines a silky smooth surface with exceptional whiteness and a tactile opulence, which offers optimum print reproduction.
    Smooth Natural offers an attractive off-white shade with a superior smooth surface.
    Laid Xtreme White has a quality, traditional appearance making it ideal for business stationery.

    Advocate is made from 100% Elemental Chlorine Free (ECF) woodpulps, sourced from carefully managed and renewed forests. Advocate is fully recyclable, and manufactured to precise and controlled standards. Advocate contains woodpulps from well managed forests that have been certified in accordance with the rules of the Forest Stewardship Council® (FSC® Mixed Credit). Customers can also choose to Carbon Capture Advocate, mitigating the CO2 generated from the production, storage and distribution of the paper purchased by planting trees here in the UK with the Woodland Trust.

    In addition, Advocate also complies with the packaging (essential requirements) regulation (amendment) 2006 SI1492 for heavy metal content and BS EN71-3 2013 for toy safety. It also conforms to ISO9706 requirements for permanence and as such is suitable for archival use, or applications that require ‘acid-free’ paper.

    Advocate Smooth is excellent for film and foil laminating, embossing, thermography, foil blocking and gravure printing processes.

    The Advocate grades are perfect for: co-ordinated corporate communications across corporate stationery, report and accounts, brochures and folder and presentation materials.
    (Premier Paper Group)
    11.08.2015   DS Smith: Completion of acquisition of Grupo Lantero's corrugated business    ( Company news )

    Company news DS Smith Plc (“DS Smith”), the leading provider of recycled corrugated packaging in Europe, is pleased to announce the completion of the acquisition of the corrugated activities of Grupo Lantero (“the acquisition”) on Friday 31 July, for approximately €190m (c.£135m), following receipt of competition authority clearance.

    The business is a well-invested Iberian corrugated producer with a strong focus in the FMCG sector, operating seven sites across Spain. This acquisition significantly strengthens our operations in Spain, an important and growing market for corrugated packaging, taking our market share to approximately 10%. It also builds on our recent acquisition of Andopack in calendar Q4 2014, where we have seen a very positive customer reaction to our product and service offering.

    Miles Roberts (photo), Chief Executive of DS Smith said:
    “We are delighted to announce the completion of the acquisition of the corrugated activities of Grupo Lantero. It is a high quality business that we have known and partnered with for a number of years and significantly increases our offering to Pan-European customers in this large and growing market. It is a further important step in our strategy to leverage our scale and strengthen our geographic footprint and we look forward to working with Grupo Lantero stakeholders and contributing to the overall growth of DS Smith.”

    Enric Holzbacher, Chief Executive of Grupo Lantero added:
    “We are very pleased to complete the handover of our corrugated packaging business to our partner DS Smith. We are convinced that DS Smith has a strong alignment within the FMCG sector and will further develop our well established customer relationships. Grupo Lantero has decided to strategically focus its activities on its multinational rigid and flexible plastic divisions: Coexpan and Emsur.”
    (DS Smith Plc)
    11.08.2015   Exclusive insights at in-house event    ( Company news )

    Company news Picture: The BÖWE SYSTEC Exclusive Days 2015 also gave visitors a chance to tour the Augsburg production facilities

    The first BÖWE SYSTEC Exclusive Days 2015 event of the year saw BÖWE SYSTEC GmbH repeat the resounding success of the 2014 series. The innovative company invited over 170 guests to the in-house exhibition at its Augsburg Headquarters on May 21, 2015, providing exclusive glimpses behind the scenes of its operations. The visitors from abroad enjoyed the opportunity to get to know BÖWE SYSTEC’s product highlights and discuss solutions for their own particular requirements in an informal, relaxed atmosphere.

    BÖWE SYSTEC offered visitors a wide range of informative presentations and live demonstrations on its current systems at the kick-off event for this year’s Exclusive Days on May 21. The presentations focused firmly on the topics of efficiency, integrity and process automation. As well as being given an overview of the existing product range, the industry specialists were also able to tour the Augsburg production facilities, and had the opportunity to witness the presentation of some promising new solutions.

    Exclusive Days allow a targeted approach
    “The Exclusive Days allow us to address the requirements of our customers in a much more targeted way than is possible at trade fairs, where we usually only exhibit a limited portfolio selection,” says Joachim Koschier, Chief Sales Officer (CSO) at BÖWE SYSTEC. “We can provide visitors with information and advice in smaller groups on a personal and individual basis. Many of our customers are also delighted to meet up with the engineers who install and commission the systems on their premises in an informal setting at our production facilities.”

    New, expanded inserting system portfolio
    The Exclusive Days 2015 certainly gave many visitors their first opportunity to inspect BÖWE SYSTEC’s newly expanded inserting system portfolio in detail. The shining star in this sector is still the highperformance inserting system, Fusion Cross with its completely new approach to inserting, the “Flow-Principle”. Even at the highest speeds this ground-breaking new inserting principle ensures especially reliable processing which, in addition is gentle on material and machine. Guests were particularly impressed by the vast enclosure flexibility demonstrated by the system shown in Augsburg, which was also equipped with continuous forms feeding and EPOD (Envelope Print On Demand) for individual envelope printing. Its stability and the fast job changeover times of under three minutes were very impressive. Over 60 Fusion Cross inserting systems have been sold and installed around the globe in the past 1 ¾ years – a figure that speaks for itself. BÖWE SYSTEC also introduced its visitors to the Direct Mailer and Daily Mailer, two inserting systems that have now been incorporated into its product portfolio this year. The Direct Mailer, a highly productive and versatile inserting system for the mid-range performance sector, was received with great acclaim. Its impressive flexibility and system availability, coupled with low operating and maintenance requirements, make it the ideal inserting solution for lettershops and small-scale service providers. The Direct Mailer can achieve a maximum throughput rate of 15,000 envelopes an hour for formats up to C5 and 10,000 envelopes an hour for formats up to C4. Enclosures can be fed in a flexible and reliable manner via up to five enclosure feeders which are available as rotary or friction feeders enabling customers to be targeted individually. The compact desktop inserter Daily Mailer is the ideal low-range inserting system for mail processing in an office environment and can process formats from C6/5 to C4. With an inserting rate of up to 4,800 envelopes an hour and rapid set-up thanks to a job library, this extremely productive system is available at an attractive price.

    Glimpses into the future for Exclusive Days guests
    Another highlight for visitors was the opportunity to experience the new printAuditor line scan camera from BÖWE SYSTEC’s topSenso brand. This reading solution for digital web-feed printing systems is set to be launched on the market at the end of 2015. The new card counting system Goldfinger will also be available towards the end of this year – but the Exclusive Days 2015 gave visitors the chance to see for themselves that it is capable of identifying cards that were previously considered uncountable and of counting them quickly and reliably. BÖWE SYSTEC also presented its latest card mailing system Card Light – a simplified version of the Cardcube card mailing system that paves the way for a White Paper Factory in the card sector in tandem with an inline RISO fullcolor printer and integrated Watermill card storage system. Like Cardcube, Card Light is equipped with a new flap folding unit that prevents embossed cards from leaving any imprint on the carrier document and can process up to 4,000 cards an hour. In the sorting sector, BÖWE SYSTEC presented its Simex Letter system, whose outstanding sorting technology delivers high-performance mail sorting that is both reliable and secure. The new Simex Compact system was also shown: this affordable and highly efficient sorting system is a low maintenance solution that is extremely easy to operate. Capable of achieving a throughput rate of up to 30,000 mailpieces an hour, its compact configuration makes it an ideal acquisition for companies with smaller production volumes. Simex Compact can process almost every format up to a thickness of 19 mm with the utmost reliability, from the small DIN C6 all the way to the large DIN C3.

    Next event on September 23
    Among the 170 visitors who traveled to Augsburg from all corners of the globe were system operators, department leaders and managing directors from BÖWE SYSTEC’s corporate customers, staff from partner companies and representatives from the trade press. They were particularly impressed by the character of the event and its excellent organization. The next chance to witness the latest BÖWE SYSTEC developments in such an informal atmosphere comes on September 23, at the second Exclusive Days event of 2015. Customers who would like to attend are welcome to get in touch with their sales contact.
    (Böwe Systec GmbH)
    10.08.2015   SKG Q2 and H1 2015 Results     ( Company news )

    Company news Smurfit Kappa Group plc announced results for the 3 months and 6 months ending 30 June 2015.

    -Pre-exceptional EPS growth of 38% in the first half of the year
    -EBITDA margin of 14% expected to improve sequentially through the second half of 2015
    -Interim dividend increased by 30% to 20 cent, bringing full year 2015 payment to 60 cent per share
    -€189 million of acquisitions completed in the year to date
    -Group corrugated packaging growth of over 6% year to date with underlying growth at over 4% in Europe
    -Good progress on containerboard pricing and strong packaging demand providing underpin to corrugated price increases towards the latter part of 2015 and into 2016

    Performance Review and Outlook
    Gary McGann (photo), Smurfit Kappa CEO, commented: “In the first half of the year the Group delivered EPS growth of 38%, underpinned by good underlying business conditions, significantly reduced long-term funding costs and the earnings impact of capital investments, acquisitions and efficiency programmes completed within the last twelve months. The EBITDA result of €551 million in the year to date also reflects the negative impact of the Group’s adoption of the variable Sistema Marginal de Divisas (‘Simadi’) rate for the consolidation of our Venezuelan operations, somewhat offset by recent acquisitions. The Group Return on Capital Employed (‘ROCE’) is 14.6%. As underlying EBITDA margins improve through the second half of the year and acquisitions begin to contribute to earnings, the ROCE is expected to revert back to 15% by the year end.

    “European corrugated packaging volumes have remained strong, delivering volume growth of over 4% in the first half of 2015. As a consequence of this consistently good growth, a balanced supply/demand environment and upward pressure in recovered paper prices, the European containerboard market has continued to tighten. As a result the Group has sought and is achieving virgin and recycled containerboard price increases and these increases are expected to support higher corrugated pricing at the backend of the year and into 2016.

    “The Group’s operations in the Americas are performing well and the integration of the recently acquired corrugated packaging businesses in the US, Central America, Colombia and Dominican Republic is progressing as planned. The Group will continue to seek to expand its strong position across this region through accretive acquisitions and organic business growth, and expects EBITDA margins to continue to improve through the second half as corrugated price increases are implemented, particularly in the major markets of Colombia and Mexico.

    “The Group’s leverage increased to 2.7 times net debt to EBITDA due to the completion of a number of acquisitions during the quarter, 2.6 times on a pro forma basis adjusting for the earnings from acquisitions less disposals. The leverage ratio is expected to further reduce through the historically cash generative second half of the year, while the Group maintains significant financial flexibility through its strong free cash flow, cash balances and a €625 million revolving credit facility.

    “The Group is pleased to confirm an increase in the interim dividend to 20 cent, bringing the total payment in 2015 to 60 cent per share, an increase of 30% year-on-year. The material increases in the dividend in recent years reflect the Board’s continued confidence in the business’ capacity to support a strong and progressive dividend.

    “The Group is a significantly stronger business today than at any other time in its recent history, and its effective capital structure, well invested asset base and increasingly differentiated customer offering provide a strong platform to drive the business forward. We continue to expect to deliver earnings growth year-on-year, and we remain focused on accelerating returns to shareholders through delivery against our capital allocation commitments, maintaining a progressive dividend, sustaining high-return capital expenditure and delivering opportunistic growth through accretive acquisitions.”
    (Smurfit Kappa Group Headquarters plc)
    10.08.2015   Wausau Paper Appoints Rob Yanker to Board of Directors    ( Company news )

    Company news Wausau Paper (NYSE:WPP) announced that it has appointed Rob Yanker to the Company’s Board of Directors, effective immediately. Mr. Yanker will serve as one of the Company’s nominees for election at its 2016 Annual Meeting of Shareholders.

    Mr. Yanker, 57, is a Director Emeritus at McKinsey & Company. Mr. Yanker served at McKinsey for 27 years, from 1986 to 2013, where he worked with a variety of clients in the industrial, consumer and telecommunications sectors.

    Michael C. Burandt, CEO, commented, “Rob has an exceptional mix of operational, strategic and industrial expertise that will be a valued asset to Wausau and we are excited to have him join our Board. Rob’s experience at McKinsey gives him an important perspective that will be beneficial as we continue to drive improvement in our operating performance and deliver significant value for shareholders.”
    (Wausau Paper Towel & Tissue Products Corporate Office)
    10.08.2015   Cascades celebrates the 30th anniversary of its Research and Development Centre     ( Company news )

    Company news Cascades Inc. (TSX: CAS), a leader in the recovery and manufacturing of green packaging and tissue products, marks the 30 th anniversary of its Research and Development Centre.

    Photo: Mario Plourde, President and Chief Executive Officer of Cascades

    Canada's biggest private research centre in the pulp and paper industry has a team of 45 seasoned scientists, composed of chemists, microbiologists, engineers and technicians, working in close collaboration with the Company's Environment Department, which celebrates its 25 th anniversary this year.

    "We are very proud of the expertise acquired over the past 30 years and the high quality of the services we offer today. We now propose our services externally to other companies and have broadened our fields of activity to the materials sectors, such as paper and cardboard, plastics, composites, rubber, textiles and metals," points out Jean Morin, Director of the Research and Development Centre (RDC).

    "The Cascades Research and Development Centre was born 30 years ago, thanks to the contribution of several Cascaders and the Lemaire brothers' innovative vision. Closely linked to our success of the past few decades, it also embodies the future in that, more than ever, we must offer our customers innovative products to continue to stand out from the competition," emphasizes the President and Chief Executive Officer of Cascades, Mario Plourde.

    Specializing in characterization of finished products, development of products and analysis methods, technical support and customer service, contaminant measurement and characterization, and optical and electronic microscopy, the RDC has nine specialized laboratories, a plant emergency team, and access to an international group of experts.

    These services proposed by the RDC complete Cascades' offer of specialized engineering and project management services, made available to companies through Cascades CIP, as well as expertise in reducing energy costs and increasing energy efficiency thanks to Cascades GIE. The Company offers its customers real partnerships, effective ideas implemented by flexible, high-performance teams, yet again demonstrating Cascades' knowhow and distinguishing it from the competition.
    (Cascades Inc.)
    10.08.2015   Resolute Reports Preliminary Second Quarter 2015 Results    ( Company news )

    Company news -Q2 adjusted EBITDA of $89 million, up from $64 million in Q1
    -Significantly lower costs and favorable FX overcame effect of price declines
    -Q2 earnings of $0.07 per share (excl. special items) / GAAP net loss of $0.04 per share

    Resolute Forest Products Inc.
    (NYSE: RFP) (TSX: RFP) reported net income of $7 million (excluding special items), or $0.07 per share, for the quarter ended June 30, 2015, compared to net income of $17 million (excluding special items), or $0.18 per share, in the same period in 2014. Sales were $926 million in the quarter, down $165 million, or 15%, from the second quarter of 2014. GAAP net loss was $4 million, or $0.04 per share, compared to a net loss of $2 million, or $0.02 per share, in the second quarter of 2014.

    "Our continued focus on costs helped to deliver solid results considering the challenges that continue to pressure our industry," said Richard Garneau (photo), president and chief executive officer. "Our competitive and diversified platform allowed us to weather the tough conditions, including the cyclical headwinds we faced in our growth businesses – market pulp and wood products – as well as increasing difficulty in paper grades, especially newsprint. We are working to maintain our competitive edge by focusing on the proven Resolute operating model in everything we do and pushing to optimize our asset base in order to maximize the utilization of our most cost-effective mills."

    Non-GAAP financial measures, such as adjustments for special items and adjusted EBITDA, are explained and reconciled below.

    Operating Income Variance Against Prior Quarter


    The company reported operating income of $16 million in the quarter, compared to an operating loss of $15 million in the first quarter. The $31 million improvement reflects lower costs ($38 million) due to the effect of spring temperatures, natural gas pricing and better mill productivity, as well as higher volume ($12 million) and the favorable effect of the weaker Canadian dollar ($9 million), despite lower realized prices across all grades ($31 million), particularly wood products and newsprint. There were no closure costs in the quarter, compared to $6 million of closure costs associated with the permanent newsprint capacity closures at Iroquois Falls, Ontario, and Clermont, Quebec, in the first quarter.

    Adjusted EBITDA was $89 million in the quarter, $25 million higher than the $64 million reported in the first quarter. As more fully described below, in the quarter the company changed its presentation of pension and other postretirement benefit (or "OPEB") costs to present the net financing and remeasurement components as a special item adjustment used in its non-GAAP performance measures, including adjusted EBITDA. Adjusted EBITDA in the second quarter would have been $77 million without this adjustment, compared to the $50 million previously disclosed for the first quarter. The net financing and remeasurement components of pension and OPEB costs are now allocated solely to "corporate and other" in its segment presentation of operating income.

    Market Pulp

    Operating income in the market pulp segment was $26 million in the second quarter, $15 million higher than the first. The increase reflects a 7%, or $46 per metric ton, drop in the operating cost per unit (the "delivered cost"), due to better operating efficiency and seasonal factors, as well as a 23,000 metric ton increase in shipments, or 7%, mostly bleached softwood kraft. But the overall average transaction price slipped by $8 per metric ton, or 1%, due to significantly lower realized prices for softwood, which was only partly offset by higher realizations for fluff and bleached hardwood kraft. Adjusted EBITDA improved to $108 per metric ton, for a 16% margin, compared to $76 in the previous quarter and a trailing twelve month average of $88 per metric ton. Finished goods inventory at the end of the quarter was 14,000 metric tons lower, or 14%, which represents almost four days of supply.

    Wood Products

    The wood products segment generated an operating loss of $4 million in the quarter, compared to operating income of $5 million in the first quarter. The drop reflects a $33 per thousand board feet reduction in average transaction price, or 9%, because of a lower average market price in the quarter. Shipments, however, rose by 25 million board feet, or 6%, to 418 million board feet, and the delivered cost dropped by $15 per thousand board feet, or 4%, to $327 per thousand board feet. The lower delivered cost is mostly because of the first quarter weakness in the Canadian dollar and its lag effect on inventory costs, as well as better fiber recovery overall and higher production efficiency. Finished goods inventory fell by 16 million board feet, or 12%. With the average transaction price in the quarter at multi-year lows, adjusted EBITDA was just $12 per thousand board feet, reflecting a 4% margin, compared to $33 in the previous quarter and a trailing twelve month average of $47 per thousand board feet.


    Operating income in the newsprint segment was $3 million in the quarter, compared to an operating loss of $3 million in the first quarter. The improvement reflects a $31 per metric ton, or 6%, drop in the delivered cost, largely as a result of seasonally lower steam and power costs as well as lower prices for natural gas. Newsprint shipments were 14,000 metric tons higher, or 3%, but the overall average transaction price fell by a further $17 per metric ton, or 3%. Pricing conditions since late 2014 have reflected the increasing challenges for North American producers in the global newsprint business, who face an accelerating pace of global structural decline, a currency disadvantage in export markets because of the strong U.S. dollar, and very low operating rates outside of North America. The company reduced finished goods inventory by 8%, to 97,000 metric tons. Despite the challenging environment, adjusted EBITDA was $35 per metric ton in the quarter, for a 7% margin, compared to $24 in the previous quarter and a trailing twelve month average of $38 per metric ton.

    Specialty Papers

    Operating income in the specialty papers segment was $17 million in the second quarter, $12 million higher than the first quarter. As with the other segments, the improvement is the result of significantly lower costs, down by $40 per short ton, or 6%, which reflects seasonally lower steam costs, as well as better mill efficiencies and productivity compared to the first quarter. Shipments were 6,000 short tons higher, or 2%, but the average transaction price slipped by $10 per short ton, or 1%, as a result of decreases in supercalender and white paper pricing. Finished goods inventory rose by 22,000 short tons. Overall, adjusted EBITDA per short ton was $93, reflecting a 13% margin, compared to $58 in the previous quarter and a trailing twelve month average of $63 per short ton.

    Consolidated Quarterly Operating Income Variance Against Year-Ago Quarter

    The company reported operating income of $16 million in the quarter, compared to an operating loss of $8 million in the year-ago period, despite an $88 million drop in overall pricing, reflecting 17% lower average transaction prices for wood products, 11% for newsprint, 9% for market pulp and 2% for specialty papers. Newsprint and specialty paper shipments were also lower due to the impact of the company's 2014 capacity rationalization initiatives to, among other things, adapt to changing market dynamics. Excluding the $14 million increase in total pension and OPEB expenses, costs were $46 million lower in the quarter compared to the year-ago period, because of asset optimization initiatives, better mill efficiencies and productivity, lower prices for commodities and reduced maintenance costs. The increase in pension and OPEB expenses related to the $330 million increase in balance sheet net pension and OPEB liability in 2014. The weaker Canadian dollar favorably affected operating income by $41 million in the quarter. There were no closure costs in the quarter compared to the second quarter of last year when the company incurred $52 million of accelerated depreciation and other closure-related costs, most of which related to the permanent closure of an idled paper machine at our Catawba, South Carolina, mill.

    Corporate & Finance

    The company repurchased 3,195,127 shares of common stock in the quarter, or 3.4% of the outstanding amount, for aggregate consideration of $37 million. With $61 million of cash provided by operations and $39 million in capital expenditures, cash was $303 million at the end of the quarter. This provides the company with $771 million of liquidity, and net debt at $294 million.

    "We took advantage of the recent stock price underperformance to buy back a significant portion of our stock under the recently-renewed share repurchase program," said Jo-Ann Longworth, senior vice president and chief financial officer. "This was an opportunistic move that does not compromise our ongoing value-creating initiatives to build capacity in markets with future growth opportunities as we continue to execute on our growth strategy, including the expansion into tissue and the pulp digester project in Calhoun, as well as the two new sawmills in Northern Ontario."

    In the second quarter, the company changed its presentation of pension and OPEB costs to isolate the net financing and remeasurement components previously allocated to the operating segments and reallocate them to "corporate and other" in the segment presentation of operating income. Current service costs and amortization of prior service credits will continue to be allocated to the operating segments.

    The company now also treats net financing and remeasurement components of pension and OPEB costs as a special item to be adjusted for purposes of establishing its non-GAAP performance measures, such as adjusted EBITDA and adjustments to earnings for special items. The change was applied retroactively by adjusting comparative financial information, including the information presented in this earnings release.

    The company believes that isolating the net financing and remeasurement components of pension and OPEB costs, which are non-operating in nature, outside the operating segments and removing them from non-GAAP performance measures better reflects its ongoing operating results and improves their comparability between periods, and will therefore be more useful to investors. This approach is consistent with the indicators management uses internally to measure performance and also consistent with a number of industry peers.


    Mr. Garneau added: "Lower North American exports to Asia and softer than expected demand pulled lumber prices down to multi-year lows during the quarter. But in light of pricing momentum of late and the recent encouraging data on U.S. housing starts, our near-term outlook for lumber is more positive. For pulp, the slowing pace of growth in China, the strong U.S. dollar and lower demand for printing and writing grades dragged our average market pulp price down $67 per metric ton since its peak in the second quarter of last year. Accordingly, our near-term outlook for pulp is unclear. But we continue to believe that the underlying fundamentals for pulp and lumber will support stronger performance in the medium and long-term. Our quarterly results show that our platform of quality assets is very well positioned to capitalize on the recovery once this downturn has run its course."

    He continued: "Even as conditions in the newsprint business continue to deteriorate, we expect to run our network to capacity, as we believe that our asset base gives us a competitive edge to weather the accelerating pace of global structural decline, the currency disadvantage in export markets because of the strong U.S. dollar, and very low operating rates outside North America. We expect a modest seasonal uptick in specialty paper shipments, but the weak euro and the accelerating pace of demand decline in North America could put pressure on selling prices. We will continue to focus on maximizing our competitive edge as we execute our growth strategy that will build the Resolute of the future with projects like the tissue manufacturing and converting facility scheduled for ramp-up in 2017 and our ongoing capacity-building initiatives in pulp and lumber."
    (Resolute Forest Products)
    07.08.2015   Twin Rivers® Offset 92 Stocking Program Launched With Expanded Lightweight Options    ( Company news )

    Company news Twin Rivers Paper Company, a global leader in the manufacture of innovative printing and technical specialty papers, announces the launch of stocking programs in the Midwest and Northeast for its high volume printing grade, Twin Rivers® Offset 92.

    “We remain focused on continuously improving our service platforms for our customers. Adding strategically placed regional warehouses for quick turn requirements greatly enhances our ability to service printers and publishers,” said Tony Rigelman, Vice President of Sales. “Additionally, our affinity for lightweight papers allows us to establish both 40 lb. and 38 lb. options as a core part of our offering. The result is a significant yield advantage to the heavier weight products most commonly used in this category.”

    “Consistency and responsiveness are required to participate in this fast-paced market. Our lightweight advantage combined with the speed component of a stocking program give us an edge,” added Rigelman. “Customers want options… and that is what we are delivering.”

    Twin Rivers Offset 92 is a lightweight, high bright paper engineered for performance. It is used for a variety of high volume printing and publishing applications including books, manuals, catalogs, direct mail and financial printing. In addition to our 40 lb. workhorse basis weight, a 38 lb. is available upon request as well as recycled content and Forest Stewardship Council® chain of custody certification. The grade is certified to the Sustainable Forestry Initiative® fiber sourcing program.

    With an 80 year papermaking legacy, Twin Rivers is known for its flexible assets, strong technical foundation, commitment to service excellence and environmental stewardship. The company produces a market leading freesheet and innovative premium hybrid papers for a range of lightweight printing and publishing applications.
    (Twin Rivers Paper Company)
    07.08.2015   Tembec reports financial results for its third quarter ended June 27, 2015    ( Company news )

    Company news Consolidated sales for the three-month period ended June 27, 2015, were $365 million, as compared to $404 million in the same quarter a year ago. The Company generated a net loss of $16 million or $0.16 per share in the June 2015 quarter compared to net earnings of $30 million or $0.30 per share in the June 2014 quarter. The current quarter results include approximately $12 million of incremental costs related to planned major maintenance conducted at two large operating sites. Operating earnings before depreciation, amortization and other items (adjusted EBITDA) was $2 million for the three-month period ended June 27, 2015, as compared to adjusted EBITDA of $30 million a year ago and adjusted EBITDA of $12 million in the prior quarter.

    Business Segment Results
    The Specialty Cellulose Pulp segment generated negative adjusted EBITDA of $6 million on sales of $108 million for the quarter ended June 2015, compared to adjusted EBITDA of $3 million on sales of $105 million in the prior quarter. The sales increase of $3 million was due to higher shipments of specialty and viscose grades, as well as lignin products, partially offset by lower prices for specialty pulp grades. Weaker demand for certain specialty grades that began in late 2014 continued into the first half of calendar 2015. The $63 per tonne decline in reported Canadian dollar selling prices for specialty grades was partially due to currency as the euro weakened by 2.6%, negatively affecting pricing for the Tartas pulp mill’s sales. A lower sales mix at the Temiscaming facility also contributed to lower average selling prices for specialty grades. US dollar prices for viscose grades were relatively unchanged. The viscose market remains oversupplied and prices are relatively low. Overall, lower pulp prices reduced adjusted EBITDA by $3 million. Shipments were equal to 78% of capacity, compared to 75% in the March 2015 quarter. The June 2015 quarter results were significantly impacted by major planned maintenance at both pulp mills. The Tartas facility, which takes major maintenance every 18 months, was down for approximately two weeks in April 2015. The Temiscaming facility, which conducts major maintenance every 12 months, was idled for approximately one week in May 2015. Overall, maintenance costs increased by $7 million quarter-over-quarter. The significant downtime led to a production decrease of 10,600 tonnes, generating a negative variance of $5 million for unabsorbed fixed costs. The negative impact of the higher maintenance was partially offset by a $3 million reduction in energy costs at the Temiscaming plant due largely to the continued improved efficiency of the new boiler and turbine.

    The Forest Products segment generated negative adjusted EBITDA of $3 million on sales of $103 million for the quarter ended June 2015, compared to adjusted EBITDA of $4 million on sales of $113 million in the prior quarter. Sales decreased by $10 million due to lower SPF lumber prices and the seasonal decrease in third-party log sales. Lumber shipments were equal to 83% of capacity versus 81% in the prior quarter. During the June 2015 quarter, the random length lumber reference price decreased by US $44 per mbf while the reference price for stud lumber decreased by US $35 per mbf. Currency was not a significant factor as the Canadian dollar averaged US $0.813, a 0.7% increase from US $0.807 in the prior quarter. The combined effect was that Canadian dollar selling prices decreased by approximately $40 per mbf, decreasing adjusted EBITDA by $7 million. Seasonally lower manufacturing costs at the sawmills was offset by an increase in lumber export taxes of $1 million and a charge of $1 million relating to a reduction of the carrying value of finished goods inventories resulting from the relatively low lumber prices.

    The Paper Pulp segment generated adjusted EBITDA of $3 million on sales of $90 million for the quarter ended June 2015, compared to adjusted EBITDA of $3 million on sales of $73 million in the prior quarter. The $17 million increase in sales was due to higher shipments. The benchmark price (delivered China) for bleached eucalyptus kraft (BEK) increased by US $35 per tonne. However, the increase did not carry over into the high-yield paper pulp market and US dollar prices declined by US $16 per tonne. Overall, average selling prices decreased by $23 per tonne, decreasing adjusted EBITDA by $3 million. Pulp shipments were equal to 104% of capacity as compared to 81% in the prior quarter. Demand for pulp in the June 2015 quarter was good and the Company was able to reduce inventories to more normal levels after absorbing increases during the winter months. In the June 2015 quarter, the two pulp mills produced 14,100 more tonnes as compared to the prior quarter. The higher productivity reduced costs by $2 million.

    The Paper segment generated adjusted EBITDA of $9 million on sales of $86 million for the quarter ended June 2015, compared to adjusted EBITDA of $8 million on sales of $84 million in the prior quarter. Higher shipments partially offset by lower prices led to the $2 million increase in sales. The coated bleached board market was stable. The coated bleached board shipment to capacity ratio was 87% compared to 82% in the prior quarter. The reference price declined by US $5 per short ton. Overall, average selling prices for coated bleached board were down $26 per tonne decreasing adjusted EBITDA by $1 million. Manufacturing costs decreased by $2 million, primarily for purchased pulp and energy. The newsprint market remained weak with continued decreases in North American demand. The newsprint shipment to capacity ratio was 85% compared to 80% in the prior quarter. The US dollar benchmark price for newsprint declined by US $30 per tonne. Prices in Canadian dollars decreased by $39 per tonne, decreasing adjusted EBITDA by $2 million. Manufacturing costs at the Kapuskasing newsprint mill decreased by $3 million, primarily for electrical energy.

    Overall, the June 2015 quarterly results were lower than anticipated. While the reduction in earnings related to the planned major maintenance work at Tartas and Temiscaming was foreseeable, the unexpected price declines for certain products, most notably lumber, combined with a stronger Canadian dollar, negatively impacted the prices in all of the Company’s business segments. As expected, the Specialty Cellulose segment results declined by approximately $12 million due to the major maintenance work completed at both of the specialty pulp mills. Price realizations declined, due primarily to currency and mix. While shipments increased over the prior quarter, they remained relatively low. Fiscal year-to-date shipments of specialty pulp are down by approximately 17% and it is not anticipated that demand will improve in calendar 2015. This in turn will lead to increased production of viscose and other grades, which are less profitable to produce and sell. Viscose grade prices have improved modestly, but remain at relatively low levels. The over-supply situation will likely persist throughout 2015. The Forest Products segment results were disappointing. Not only did we not experience the historical seasonal pick-up in lumber prices, but average prices in the June 2015 quarter actually declined by approximately US $40 per thousand board feet. While the recent price increases in late June and July should lead to better results in the September quarter, the market does not currently have a clear direction and some volatility will likely result in the next few quarters. However, we remain bullish on the medium and longer term outlook for lumber, driven by a gradual recovery in US housing starts. The Paper Pulp segment results were similar, but remained relatively weak in terms of adjusted EBITDA. The new South American hardwood paper pulp capacity combined with the restart of high-yield pulp capacity is impacting prices and we anticipate marginal profitability from this segment until the market absorbs all of this new capacity. The Paper segment results were relatively unchanged. The coated bleached board markets remain stable and the business should continue to generate good results, bolstered by a relatively weaker Canadian dollar. Ongoing weakness in newsprint markets has put downward pressure on prices and this situation will likely persist in the coming quarters.
    The commissioning and optimization of the new boiler and turbine at Temiscaming made significant progress in the June quarter. The boiler burned approximately 70% of the targeted volume of sulfite liquor, generating a net energy benefit of approximately $4 million. These values would have been higher if not for the impact of the major maintenance downtime. The Company remains confident it will attain the $3 million per month of targeted energy, operational and maintenance cost improvement from the operation of the new boiler and turbine.
    (Tembec Inc.)
    07.08.2015   Anodic Protection System Upgrade for Cenibra    ( Company news )

    Company news Cenibra installed Savcor Anodic Protection System in the digester 1 at their pulp mill in Brazil in 2003. Now after more than 10 years use, Cenibra decided to upgrade the system.

    Savcor’s new control unit XCor will be installed in the next shutdown in September 2015. The upgrade will increase the system’s reliability and secure digester availability by minimizing corrosion risks also in the future.
    (Savcor Forest Oy)
    07.08.2015   Mercer International Inc. Announces Leadership Transition     ( Company news )

    Company news Mercer International Inc. (Nasdaq:MERC) (TSX:MRI.U) ("Mercer" or the "Company") is pleased to announce that its Board of Directors (the "Board") has implemented a leadership transition plan that capitalizes on the strength and depth of management.

    Mr. Jimmy S.H. Lee, currently Chief Executive Officer ("CEO"), President, and Chairman of the Company, will transition to Executive Chairman of the Board, effective July 20, 2015. At that time, Mr. David M. Gandossi, Mercer's current Chief Financial Officer ("CFO") will assume the role of President and CEO and become a Director. Mercer is also pleased to announce that Mr. David K. Ure, the Senior Vice-President, Finance will concurrently become the CFO and Secretary of the Company.

    Mr. Jimmy S.H. Lee stated: "It has been an honor and privilege to serve as Mercer's CEO and one of its founders. In my new role, I will be responsible for focusing upon developing Mercer's overall corporate strategy, capital market activities and corporate development initiatives. I look forward to continuing to work with the Board and the senior management team as Mercer enters its next chapter of growth and success. I have had the opportunity to work closely with David Gandossi over the past decade, during which time David has demonstrated his dedication and operational aptitude, and I believe that David will excel as Mercer's next CEO.

    Mr. David Gandossi said, "I am very excited and humbled by this opportunity and am pleased to be taking on this exciting new role. On behalf of everyone at Mercer, I would like to thank Jimmy for his leadership and vision over the past 23 years which has been instrumental in building the Company. As Executive Chairman, Jimmy will continue to be actively involved with the Company by lending his expertise to the development of Mercer's strategic goals and initiatives. I look forward to being able to continue working with Jimmy in the execution of the Company's strategic affairs."

    Mr. Gandossi further stated, "I also want to congratulate David Ure. Since returning to Mercer in 2013, David has become an important member of the management team and is well respected for his extensive forest products industry experience." He concluded, "I look forward to working with the Mercer team as we continue to execute our strategy to realize the full operational and financial potential at Mercer on behalf of all our stakeholders."
    (Mercer International Inc.)
    07.08.2015   ANDRITZ GROUP: results for the first half of 2015    ( Company news )

    Company news International technology Group ANDRITZ showed solid business development in the first half of 2015 in a still challenging overall economic environment.

    The key financial figures developed as follows:
    -In the first half of 2015, sales amounted to 3,005.6 MEUR, which is an increase of 13.0% compared to the previous year’s reference period (H1 2014: 2,659.4 MEUR). In the second quarter of 2015, sales rose by 11.2% compared to last year’s reference figure, reaching 1,601.3 MEUR (Q2 2014: 1,439.9 MEUR).

    -Order intake amounted to 2,580.0 MEUR in the first half of 2015 (-13.4% versus H1 2014: 2,980.2 MEUR). While the order intake in the HYDRO business area only dropped slightly (-2.5% versus H1 2014), order intake in the other business areas dropped – in some cases substantially: PULP & PAPER -14.0%, METALS -25.4%, SEPARATION -9.5%. In the second quarter of 2015, order intake amounted to 1,149.4 MEUR (-7.2% versus Q2 2014: 1,238.0 MEUR).

    -The order backlog as of June 30, 2015, amounted to 7,349.0 MEUR (-2.2% versus December 31, 2014: 7,510.6 MEUR).

    -Earnings and profitability developed favorably. In the first half of 2015, the EBITA rose by 38.6% to 184.9 MEUR (H1 2014: 133.4 MEUR) and the EBITA margin to 6.2% (H1 2014: 5.0%). In the second quarter of 2015, the EBITA amounted to 111.5 MEUR (+31.5% versus Q2 2014: 84.8 MEUR), and the EBITA margin increased to 7.0% (Q2 2014: 5.9%). This positive development is mainly due to the HYDRO and PULP & PAPER business areas, which achieved a substantial increase in profitability compared to the previous year’s reference period.

    -Net income (without non-controlling interests) rose considerably in the first half of 2015 and amounted to 113.9 MEUR (+70.8% versus H1 2014: 66.7 MEUR).

    Wolfgang Leitner (photo), President and CEO of ANDRITZ: “In view of the unchanged difficult economic environment, we are satisfied with the business development in the first half of 2015. However, project and investment activity has slowed down in some of our end markets, in some cases substantially, and this activity has also become increasingly volatile. Hence, we shall continue the structural measures already implemented in the past few years in order to adapt our value chain to these changed market conditions and thus increase our flexibility.”

    Based on the current project activity in the ANDRITZ business areas and on the order backlog as of the end of June 2015, ANDRITZ currently expects an increase in sales and net income for the 2015 business year compared to the previous year. If, however, the economic weakness in the emerging countries (particularly in China) continues in the coming months, the global economy suffers any severe setbacks, or there is major turmoil in the international foreign currency and financial markets, this could have a negative impact on ANDRITZ’s business development. This could necessitate organizational and capacity adjustments in individual business areas and thus result in financial provisions that could negatively impact the earnings of the ANDRITZ GROUP.
    (Andritz AG)
    06.08.2015   Kimberly-Clark Announces Second Quarter 2015 Results    ( Company news )

    Company news Kimberly-Clark Corporation (NYSE: KMB) reported second quarter 2015 results and narrowed its previous guidance for full-year 2015 adjusted earnings per share.

    Executive Summary
    -Second quarter 2015 net sales of $4.6 billion decreased 6 percent compared to the year-ago period, as changes in foreign currency exchange rates reduced sales 10 percent. Organic sales rose 4 percent, including a 10 percent increase in developing and emerging markets.
    -Diluted net income per share for the second quarter was a loss of $0.83 in 2015, driven by non-cash pension settlement charges, compared to income of $1.32 from continuing operations in 2014. Including earnings from the health care business (discontinued operations) that was spun off at the end of October 2014, diluted net income per share was $1.35 for the second quarter of 2014.
    -Second quarter adjusted earnings per share were $1.41 in 2015 compared to adjusted earnings per share from continuing operations of $1.33 in the prior year. Performance benefited from organic sales growth, cost savings, input cost deflation and a lower share count. Comparisons were negatively impacted by unfavorable foreign currency exchange rate effects and higher other expense. Adjusted earnings per share in both years exclude certain items described later in this news release.
    -Full-year adjusted earnings per share in 2015 are anticipated to be $5.65 to $5.80 compared to the company's previous guidance range of $5.60 to $5.80.

    Chairman and Chief Executive Officer Thomas J. Falk (photo) said, "We continue to execute our Global Business Plan strategies well. In the second quarter, we delivered mid-single digit growth in organic sales and adjusted earnings per share from continuing operations. We also achieved significant cost savings and improvements in adjusted gross and operating margins. In addition, we made further progress with targeted growth initiatives, launched product innovations and allocated capital in shareholder-friendly ways. In terms of our full-year earnings outlook, we are raising the low end of our previous guidance by 5 cents per share. This reflects our strong performance in the first half of the year, additional cost savings and more investments behind our brands and growth initiatives than we previously planned. We continue to be optimistic about our prospects to generate attractive returns to shareholders."

    Second Quarter 2015 Operating Results
    Sales of $4.6 billion in the second quarter of 2015 were down 6 percent compared to the year-ago period. Changes in foreign currency exchange rates reduced sales 10 percent as a result of the weakening of most currencies relative to the U.S. dollar. Organic sales rose 4 percent, as volumes increased 3 percent and product mix/other was favorable by 1 percent.
    Second quarter operating profit was a loss of $544 million in 2015 and profit of $775 million in 2014. Adjusted operating profit was $790 million in the second quarter of 2015 compared to $777 million in the year-ago period. Adjusted results in 2015 exclude $1,322 million of charges for pension settlements and $12 million of 2014 Organization Restructuring costs. Adjusted results in 2014 exclude $2 million of restructuring costs for European strategic changes.
    The year-over-year adjusted operating profit comparison benefited from organic sales growth, $105 million in cost savings from the company's FORCE (Focused On Reducing Costs Everywhere) program and $20 million of savings from the 2014 Organization Restructuring. Input costs decreased $40 million overall, including $35 million of lower costs for raw materials other than fiber and $5 million of lower energy costs. Translation effects due to changes in foreign currency exchange rates lowered operating profit by $80 million and transaction effects also negatively impacted comparisons. The currency impacts were most significant in Latin America and Eastern Europe. On an adjusted basis, other (income) and expense, net was expense of $10 million in 2015 and income of $13 million in 2014. Results in 2015 were driven by foreign currency transaction losses, while prior-period results benefited from a gain on an asset sale.
    The second quarter 2015 adjusted effective tax rate, which excludes the effects of the previously mentioned items excluded from adjusted earnings per share, was 32.2 percent, consistent with company expectations for a full-year rate between 31.5 and 33.5 percent. The second quarter 2014 adjusted effective tax rate was 31.4 percent.
    Kimberly-Clark's share of net income of equity companies in the second quarter of 2015 was $39 million, even with the year-ago period. At Kimberly-Clark de Mexico, results benefited from organic sales growth, lower input costs and cost savings, but were negatively impacted by a weaker Mexican peso. Second quarter net income attributable to noncontrolling interests was $12 million in 2015 and $21 million in 2014. The change was driven by the redemption of $0.5 billion of preferred securities in December 2014.

    Cash Flow and Balance Sheet
    Cash provided by operations in the second quarter of 2015 was $772 million compared to $842 million in 2014. The comparison was affected by the spin-off of the health care business in 2014. Capital spending for the second quarter was $243 million in 2015 and $181 million in 2014. Second quarter 2015 share repurchases were 0.9 million shares at a cost of $100 million. Total debt was $7.6 billion at June 30, 2015 and $7.0 billion at the end of 2014.

    Second Quarter 2015 Business Segment Results
    Personal Care Segment
    Second quarter sales of $2.3 billion decreased 6 percent. Currency rates were unfavorable by more than 10 percent. Volumes increased 3 percent and net selling prices and product mix each improved 1 percent. Second quarter operating profit of $473 million increased 4 percent. The comparison benefited from organic sales growth, cost savings and lower input costs, partially offset by unfavorable effects from changes in currency rates.
    Sales in North America decreased 2 percent. Currency was unfavorable 1 percent and the combined impact of changes in net selling prices and product mix reduced sales 1 percent. Huggies baby wipes volumes rose double digits, including benefits from innovation and market share gains. Volumes in adult care, child care and Huggies diapers were all down slightly. Feminine care volumes were off high-single digits compared to mid-single digit growth in the year-ago period, with market shares down slightly.
    Sales in developing and emerging markets decreased 7 percent, including a 20 percent negative impact from changes in currency rates. Volumes increased 7 percent, net selling prices improved 5 percent and product mix advanced 1 percent. The volume growth included gains in China and most of Latin America, led by Argentina, Brazil and Peru. The higher net selling prices were driven by increases in Eastern Europe and Latin America in response to weaker currency rates.
    Sales in developed markets outside North America (Australia, South Korea and Western/Central Europe) decreased 12 percent. Currency rates were unfavorable by 11 percent and net selling prices and volumes were both down slightly.

    Consumer Tissue Segment
    Second quarter sales of $1.5 billion decreased 8 percent. Currency rates were unfavorable by 9 percent and net selling prices were down 2 percent, while volumes were up 3 percent. Second quarter operating profit of $260 million increased 8 percent. The comparison benefited from cost savings, lower manufacturing-related costs and reduced marketing, research and general expenses, partially offset by unfavorable currencies and lower net selling prices.
    Sales in North America were even with the year-ago period. Volumes increased 5 percent. Net selling prices were off 4 percent, including the impact of increased promotion activity, and product mix was unfavorable 1 percent. Volumes rose high-single digits in bathroom tissue, with benefits from increased promotion shipments on Cottonelle. Volumes increased low-single digits in facial tissue and paper towels.
    Sales in developing and emerging markets decreased 20 percent, including a 23 point negative impact from currency rates. Net selling prices increased 2 percent and volumes advanced 1 percent.
    Sales in developed markets outside North America decreased 13 percent, driven by unfavorable currency rates.

    K-C Professional (KCP) Segment
    Second quarter sales of $0.8 billion decreased 4 percent. Changes in currency rates reduced sales 9 percent and net selling prices were down 1 percent. Volumes rose 3 percent and product mix/other was favorable by 3 percent, including sales of nonwovens to Halyard Health, Inc. in conjunction with a near-term supply agreement. Second quarter operating profit of $145 million decreased 5 percent. The comparison was negatively impacted by unfavorable currency effects, partially offset by benefits from organic sales growth, cost savings and lower input costs.
    Sales in North America increased 1 percent. Volumes rose 3 percent. The combined impact of changes in net selling prices and product mix reduced sales 1 percent and currency was unfavorable 1 percent. Volumes were up mid-single digits in wipers and safety products and low-single digits in washroom products.
    Sales in developing and emerging markets decreased 13 percent, including a 21 point drag from currency rates. Volumes rose 4 percent, net selling prices improved 3 percent and product mix advanced 1 percent. The volume growth was driven by increases in Latin America and Asia.
    Sales in developed markets outside North America were down 16 percent. Changes in currency rates reduced sales 15 percent. Net selling prices were off 3 percent, mostly in Western/Central Europe, while overall volumes increased 2 percent.

    Year-To-Date Results
    For the first six months of 2015, sales of $9.3 billion decreased 5 percent compared to the year-ago period, as changes in foreign currency exchange rates reduced sales 9 percent. Organic sales rose 4 percent, as volumes increased 3 percent and product mix/other was favorable by 1 percent.
    Year-to-date operating profit was $204 million in 2015 versus $1,486 million in 2014. Adjusted operating profit of $1,605 million in 2015 increased 4 percent compared to $1,537 million in 2014. Adjusted operating profit comparisons benefited from organic sales growth, FORCE cost savings of $195 million and $30 million of savings from the 2014 Organization Restructuring. In addition, input costs overall were $55 million lower. Translation effects due to changes in foreign currency exchange rates lowered operating profit by $160 million and transaction effects also negatively impacted the operating profit comparisons.
    Through six months, diluted net income per share was $0.44 in 2015 and $2.75 in 2014. Adjusted earnings per share of $2.83 in 2015 increased 6 percent versus $2.66 of adjusted earnings per share from continuing operations in 2014. The increase was driven by higher adjusted operating profit and a lower share count, partially offset by a higher adjusted effective tax rate.
    Adjusted operating profit and adjusted earnings per share in 2015 exclude pension settlement charges, 2014 Organization Restructuring costs and a balance sheet remeasurement charge in Venezuela. Adjusted results in 2014 exclude restructuring costs for European strategic changes and a charge related to a regulatory dispute in the Middle East.

    2014 Organization Restructuring
    In October 2014, Kimberly-Clark initiated a restructuring program in order to improve organization efficiency and offset the impact of stranded overhead costs resulting from the spin-off of the company's health care business. The restructuring is intended to improve underlying profitability and increase flexibility to invest in targeted growth initiatives, brand building and other capabilities critical to delivering future growth.
    The restructuring is expected to be completed by the end of 2016, with total costs anticipated to be $130 to $160 million after tax ($190 to $230 million pre-tax). Cumulative pre-tax savings from the restructuring are expected to be $120 to $140 million by the end of 2017. Second quarter 2015 restructuring costs were $8 million after tax ($12 million pre-tax), bringing cumulative costs to $108 million after tax ($158 million pre-tax). Second quarter 2015 savings were $20 million, bringing cumulative savings to $35 million.

    Defined Benefit Pension Plan Changes
    Effective January 2015, the company amended its U.S. pension plan to include a lump-sum pension benefit payout option for certain plan participants. In addition, in April, Kimberly-Clark completed the purchase of group annuity contracts that transferred to two insurance companies the pension benefit obligations for approximately 21,000 Kimberly-Clark retirees in the United States. As a result of these changes, the company recognized pension settlement charges of $0.8 billion after tax ($1.3 billion pre-tax) in the first half of 2015, mostly in the second quarter.

    2015 Outlook and Key Planning Assumptions
    The company updated the following key planning and guidance assumptions for full-year 2015:
    -The drag on sales and earnings from foreign currency translation effects is expected to be at the high end of the company's previous assumption, which was for a negative impact on net sales of 9 to 10 percent and a negative impact on operating profit of 10 to 11 percent.
    -Deflation in key cost inputs is more likely to be $100 to $200 million compared to the prior estimate of $50 to $150 million. This reflects modest improvements in the outlook for oil-based materials, recycled fiber and energy costs versus prior assumptions.
    -Cost savings from the company's FORCE program are expected to be at least $350 million. The previous target was for savings of at least $300 million.
    -Adjusted earnings per share are anticipated to be $5.65 to $5.80 versus the company's previous guidance of $5.60 to $5.80.
    (Kimberly-Clark Corp.)
    06.08.2015   Montes del Plata going strong     ( Company news )

    Company news The Montes del Plata pulp mill in Uruguay has been operative for a year, and now produces around 3700 tonnes of pulp daily.

    Starting a completely new, state-of-the-art pulp mill doesn't happen overnight; the ramp-up phase takes at least six months. The Montes del Plata mill in Uruguay has now been running for a year, and daily operating rates are on target level.
    The mill is producing around 3700 tonnes of pulp daily, and on many days has reached a production rate of well above 4000 tonnes. Importantly, the feedback from customers on service level for technical support, sales process coordination and reliability of the supply chain is very encouraging.
    Montes del Plata employees have been working continuously in enhancing the product quality of the pulp to meet customer need. The strength properties are improving all the time. It is normal that reaching quality stability takes some time when the mill is new. Despite this, the entire production of the mill is sold, which was a huge effort and success for the sales team.
    Montes del Plata is a joint operation between Stora Enso and the Chilean company Arauco. It was inaugurated in autumn 2014, and is an important growth generator for Stora Enso. The mill has also strongly contributed to Uruguay's GDP growth: last year, the GDP of Uruguay increased by four percent, which was due to a large part to Montes del Plata. On top of that, Montes del Plata has developed the region economically by creating direct and indirect employment.
    (Stora Enso Oyj)
    06.08.2015   Inapa: Resignation of board member    ( Company news )

    Company news To comply with the law and applicable regulations, INAPA – INVESTIMENTOS, PARTICIPAÇÕES E GESTÃO, SA (“Inapa”) informs that JORGE MANUEL DE AZEVEDO PINTO BRAVO has resigned to his mandate as director of the company and, consequently, to his functions as COO.

    Following number 2 of article 404 of the Portuguese Companies Act, the resignation will produce its effects from August 31, 2015.
    (Inapa - Investimentos, Participações e Gestão, S.A.)

    06.08.2015   BASF to set up new global business unit combining all pigments activities    ( Company news )

    Company news -BASF intends to establish separate legal entities for the pigments business
    -New organization enables the business to better adapt to the challenges in the pigments industry

    BASF will form a global business unit (GBU) combining all of its pigments activities effective January 2016. In the second half of 2016, BASF intends to carve out its pigments business and establish separate legal entities.

    With sales of about €1 billion in 2014 and 2,500 employees globally, BASF holds a leading position in the pigments market, offering the broadest portfolio of products and technology. The new GBU will likely be headquartered in the Ludwigshafen area. All employees who are dedicated to the pigments business will be transferred to the new GBU.

    “We have achieved and maintained a leading position in the pigments market through acquisitions and a series of successful restructuring measures. The new global business unit will fully concentrate on the pigments business and thus be even more focused on supporting the needs of our pigments customers,” said Dr. Markus Kramer, President of BASF’s Dispersions & Pigments division.

    Dr. Alexander Haunschild, Senior Vice President of the regional business unit Pigments and Resins Europe and appointed head of the GBU, stated: “By creating an organization fully dedicated to pigments, we will adapt better to the challenges in the pigments industry. Our customers will benefit from tailored services and higher responsiveness.”

    BASF’s pigments business serves a variety of industries including paints & coatings, printing & packaging and plastics. The portfolio comprises of color pigments such as phthalocyanines, high performance pigments, azo pigments, effect pigments, inorganic pigments, dyes and pigment preparations.
    (BASF SE)
    06.08.2015   Mondi Half-yearly results for the six months ended 30 June 2015     ( Company news )

    Company news Highlights
    -Strong performance on all key financial metrics, with all business units delivering significantly improved results
    o Underlying operating profit of €490 million, up 30%
    o Underlying earnings of 67.8 euro cents per share, up 31%
    o Cash generated from operations of €538 million, up 23%
    o Return on capital employed of 19%

    -Successful delivery on capital projects and acquisitions
    o Recently completed projects delivering ahead of plan
    o Current major projects on time and on budget
    o Turnaround of US Bags business acquired in 2014 on track

    -Interim dividend of 14.38 euro cents per share, up 9%

    David Hathorn (photo), Mondi Group chief executive, said:
    “I am pleased to report another strong performance, building on the good results achieved in the prior year. Improvements in underlying profit in all business units, driven by generally positive selling price and volume developments, coupled with good cost control and the contribution from recently completed capital projects, enabled the Group to deliver an impressive return on capital employed of 19%.

    A focus during the period was on the optimisation of major capital projects completed in the prior year. It is pleasing to note all are performing ahead of expectation. Furthermore, all ongoing projects remain on time and on budget for completion over the coming two years.
    We continue to assess opportunities for value-enhancing growth and cost optimisation through further major capital investments, centred on our high-quality, low-cost packaging paper assets in central
    Europe, while still being open to value-enhancing growth through acquisition. We recently announced the purchase of two plants from Walki Oy, subject to competition clearance, which will strengthen our
    position in the European extrusion coatings market.

    As in prior years, the second half will be impacted by the seasonal downturn in our Uncoated Fine Paper business and planned annual maintenance shuts at a number of our mills. Price increases in certain paper grades should provide some positive momentum, offset in part by increases in various input costs and currency volatility.

    With our robust business model, clear strategic focus and culture of continuous improvement, management remains confident of continuing to deliver industry leading performance and making good progress for the year.”
    (Mondi South Africa Division)
    05.08.2015   Idempapers SA announces a price increase for carbonless papers    ( Company news )

    Company news Idempapers SA, the manufacturer of the well known “Idem” brand is announcing a price increase for carbonless products.

    The price rise that was implemented earlier this year has not been sufficient to cover the escalation in raw material costs. This situation has led to a significant decline in profitability for the carbonless papers business.

    Consequently, Idempapers SA is announcing a price increase on carbonless products that will be up to 8% on reels and 5% on sheets, effective for all deliveries from 14th September 2015. The sales team will shortly be contacting all customers to discuss with them the details of the increase.
    (IdemPapers S.A.)
    05.08.2015   Spooner backing China and here to stay    ( Company news )

    Company news Continued investment in China by Spooner Industries sees the growing Shanghai team back at China Paper this year. With world re-known technical expertise in the paper and board industry, Spooner is cognisant that servicing the Chinese market brings financial challenges. To address this issue they are now able to offer local manufacturing of selected products via their subsidiary, Spooner Industrial Equipment (Shanghai) Co. Ltd, delivering the same quality and technology that is synonymous with the Spooner brand at competitive price levels.

    Spooner has over 80 years’ experience providing customised process solutions for the contact-less drying of paper. Experts in convection drying and non-contact web-handling, Spooner provide drying systems to leading paper manufacturers throughout the world. Selling a concept and delivering a tailored product best describes what Spooner do and, with no two contracts the same, problem solving is standard.

    Delivering pioneering design and engineering excellence Spooner equipment is manufactured to premium standards, giving flexible, reliable operation and ease of control. The range includes high performance air flotation and impingement dryers, coolers, Air Turns and Yankee Hoods, custom designed to any customer specifications providing optimum results for even the most demanding paper industry processes. They can be successfully applied to every paper grade from speciality grades to packaging board.

    Lee Fairhurst, Ruben Liu and Jack Zhang will be on the Spooner Stand A116 and look forward to meeting customers old and new at China Paper.
    (Spooner Industries Ltd)
    05.08.2015   Munksjö appoints Åsa Jackson as SVP Human Resources    ( Company news )

    Company news Åsa Jackson has been appointed Senior Vice President Human Resources (SVP HR) and member of Munksjö's Management Team.

    Åsa Jackson (Master of Business Administration and Economics) will be joining Munksjö from ABB Sweden, where she currently is the Country HR Manager and a member of the Country Management Team. Her previous positions include several senior positions in HR at ABB in Sweden and abroad.

    Åsa Jackson will join Munksjö on 31 October 2015, and she will report to Jan Åström, President and CEO of Munksjö Oyj.

    "I'm very happy to welcome Åsa to our team. With her strong background, she will be an excellent driving force for the development of our strategic HR agenda, a prioritised area for Munksjö's continued success and growth", says President and CEO Jan Åström.
    (Munksjö Oyj)
    05.08.2015   Ence multiplies its EBITDA by 14, reaching 77.3 million in the first semester     ( Company news )

    Company news The company expects to reach in 2015 an EBITDA of 200 million and Free Cash Flow of 100 million

    The Board of Directors announces its intention to distribute an interim gross dividend against 2015 earnings of €0.044/share during the month of October

    The net result of Ence - Energía y Celulosa stood at € 22.1 million in the first half of the year, compared with a loss of 48.6 million in the same period of 2014. Note that the company managed to multiply by about 14 EBITDA, which rose to 77.3 million in the first six months.

    Ence confirms its strong capacity to generate operating cash flow, which amounted to € 69.2 million in the first six months and multiplied by 25 the record of the first half of 2014, when it stood at 2.8 million.

    The Board of Directors announces its intention to distribute an interim gross dividend against 2015 earnings of €0.044/share, which will be effective next October.

    Ignacio de Colmenares, Vice-Chairman and CEO of Ence, said that "our management effort and the good performance of pulp prices has enabled us to beat profit targets we had set ourselves. In fact, we are convinced that this year's Ence EBITDA heads towards 200 million euros and our free cash flow to 100 million, which gives a clear idea of the quality of our results.”

    The cost of production continued its downward trend, falling 12% from the first half of last year, to stand at levels of € 365 / ton, moving towards the target of 336 € / t.

    The pulp prices have experienced a good performance in the first half helped by strong demand, standing at $ 810 / tonne at the end of the period, and it is expected to continue presenting a good evolution with additional future increases between 10 and 20 US dollars / ton.

    On the other hand, in order to ensure the levels of income the company has begun to cover their dollar risk for the next 12 months with instruments that guarantee benefits of potential reinforcements exchange rate.
    (Grupo Empresarial ENCE S.A. Divisíon de Celulosa)
    05.08.2015   Annual General Meeting of Heidelberger Druckmaschinen AG for financial year 2014/2015 ...    ( Company news )

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

    Around 1,650 shareholders participated in the Annual General Meeting (AGM) of Heidelberger Druckmaschinen AG (Heidelberg) for financial year 2014/2015, which was held at the Congress Center Rosengarten in Mannheim. Approximately 30 percent of Heidelberg’s share capital was represented at the event.

    The Management Board discussed the company’s strategy and the financial results for the past financial year (April 1, 2014 through March 31, 2015). In his speech, Deputy CEO and CFO Dirk Kaliebe analyzed where Heidelberg stands at present and then highlighted where the company is heading in the medium term. The company had largely completed its strategic reorientation during the previous financial year. The focus during this process was on realigning the Group’s portfolio toward profitable areas of business and growth sectors. The corporate structures have also been adapted to the dynamic changes in markets. This has had a further significant impact on sales and results. Together with optimizing the financing structure, this package of measures set the foundation for profitable growth. The aim is to achieve between 2 and 4 percent higher sales and an EBITDA margin of at least 8 percent during the current financial year 2015/2016.

    Approval from the company’s shareholders was needed for six of the seven items on the AGM’s agenda. These included the election of Kirsten Lange to the Supervisory Board and decisions to raise new contingent capital and new authorized capital. All items on the agenda were approved with a clear majority.
    (Heidelberger Druckmaschinen Vertrieb Deutschland GmbH)
    05.08.2015   Graphic Packaging Holding Company Reports Second Quarter 2015 Results    ( Company news )

    Company news Second Quarter Highlights
    -Q2 Adjusted Earnings per Diluted Share were $0.19 compared to $0.20 in the prior year period.
    -Q2 Adjusted EBITDA was $192.1 million compared to $190.8 million in the prior year period.
    -Q2 Adjusted EBITDA margin increased 110 basis points to 18.2% from 17.1% in the prior year period.

    Graphic Packaging Holding Company (NYSE: GPK), (the "Company"), a leading provider of paper-based packaging solutions to food, beverage and other consumer products companies, reported Net Income for second quarter 2015 of $57.6 million, or $0.17 per share, based upon 330.9 million weighted average diluted shares. This compares to the second quarter 2014 Net Loss of $(40.0) million, or $(0.12) per share, based on 328.7 million weighted average diluted shares.

    Including the tax impact, second quarter 2015 Net Income was negatively impacted by $3.7 million of Charges Associated with Business Combinations and Other Special Charges. When adjusting for these charges, Adjusted Net Income for the second quarter of 2015 was $61.3 million, or $0.19 per diluted share. This compares to second quarter 2014 Adjusted Net Income of $66.0 million or $0.20 per diluted share.

    "We delivered on our expectations despite continued soft demand in key end-markets," said Chairman and CEO David Scheible. "Although market volumes remain challenging, we continue to post strong results as Adjusted EBITDA margin was up 110 basis points over last year to 18.2%. The increase was driven by our ongoing asset optimization strategies, acquisition integration and strong operating performance. Our global supply chain has been extremely efficient as we produced and sold more net tons through our integrated system versus second quarter last year. Our strong performance has generated over $40 million in productivity benefits through the first six months of the year."

    Net Sales
    Net Sales decreased 5.3% to $1,057.1 million in the second quarter of 2015, compared to $1,116.7 million in the prior year period. Excluding $107.7 million of sales in the prior year period from divested businesses, Adjusted Net Sales increased $48.1 million or 4.8%. The increase was driven by $82.7 million of improved volume/mix, primarily related to acquisitions. The sales increase was partially offset by $34.6 million of unfavorable foreign exchange rates and modestly lower pricing.

    EBITDA for second quarter 2015 was $187.1 million, or $167.4 million higher than the second quarter of 2014. When adjusting both periods for Charges Associated with Business Combinations and Other Special Charges, and the prior year period for Loss on Sale of Assets, Adjusted EBITDA increased 0.7% to $192.1 million in the second quarter of 2015 from $190.8 million in the second quarter of 2014. When comparing against the prior year quarter, Adjusted EBITDA in the second quarter of 2015 was positively impacted by $12.7 million of improved net operating performance and $9.2 million of favorable volume/mix. These benefits were partially offset by $8.6 million in higher costs (primarily for labor and benefits), $5.4 million of unfavorable foreign exchange rates, $4.3 million of EBITDA from divested businesses and $2.3 million of lower price, net of commodity deflation.

    Other Results
    Total Net Debt declined $64.9 million during the second quarter 2015 to $1,997.6 million. The Company's June 30, 2015 Net Leverage Ratio dropped to 2.71 times Adjusted EBITDA from 3.17 times Adjusted EBITDA at the end of the second quarter of 2014. At June 30, 2015, the Company had available domestic liquidity of $960.6 million, including the undrawn availability under its $1.25 billion domestic revolving credit facility.

    Net Interest Expense was $17.8 million in second quarter 2015, compared to $21.2 million in second quarter 2014. The decrease was due to both lower debt balances and lower overall interest rates.

    Capital expenditures for second quarter 2015 were $66.3 million, compared to $49.6 million in the second quarter of 2014. The increase is primarily the result of additional investments being made in the Company's mills, including the previously announced Cogen installation at the West Monroe, LA mill.

    Second quarter 2015 Income Tax Expense was $35.1 million compared to a benefit of $(33.2) million in the second quarter of 2014. The prior year benefit was primarily driven by the pre-tax loss generated from the sale of the Company's multi-wall bag business. As of June 30, 2015, the Company had approximately $551 million of NOLs for U.S. federal income tax purposes, which may be used to offset future taxable income.
    (Graphic Packaging Holding Company)
    05.08.2015   Paperworld China - China International Stationery and Office Supplies Exhibition    ( Company news )

    Company news Shanghai New International Expo Centre, Shanghai, China 15 – 17 October 2015

    -Oriental Culture zone features unique products from Anna Chennault Foundation
    -Creative Pavilion responds to the hobby & craft craze
    -Esteemed lawyers share insights into intellectual property rights

    Top-notch stationery and gift items with Chinese attributes, as well as the most popular hobby & craft techniques and live demonstrations, will be staged at Paperworld China, held from 15 – 17 October 2015 at the Shanghai New International Expo Centre, Hall N1 – N2.

    Aside from a selection of high-quality traditional arts, fine crafts, calligraphy and painting showcased by a number of exhibitors, the Oriental Culture zone will collaborate with the Anna Chennault Foundation, which is committed to protecting intangible cultural heritage and advocating national culture. The foundation’s exclusive collection of stationery, desktop products and gift items characterised by a blend of modernity and Chinese tradition, will allow visitors to enjoy a prestigious sourcing experience as well as forge a commercial channel for the cultural industry.

    The return of Oriental Culture zone maintains the momentum from the presentation, held in July in Suzhou, which was supported by hundreds of culture and arts professionals and related companies. The promotional efforts will expand to Northern and Southern China as well as Taiwan to draw more exhibitors from different provinces who will bring their local uniqueness to the show.
    Stationery combining traditional oriental features and contemporary design has experienced growing popularity in recent years, particularly among middle range to high-end domestic and overseas consumer groups. It is regarded as a representation of individuality and personal taste and is often used as a corporate gift.

    Creative Pavilion responds to the hobby & craft craze
    Paperworld China envisions enormous potential for providing hobby & craft professionals a quality avenue for information exchange, network and trading. For this purpose, the hobby & crafts element was added to the show’s portfolio in 2013 and continues to receive overwhelmingly positive feedback from the exhibitors. In 2015, Paperworld China and the DIY Industry Promotion Council of Shanghai Creative Industry Association have joined forces again to launch the Creative Pavilion, which is expected to house more exhibitors and a larger exhibition space.

    Hobby & craft has become a pop culture phenomenon in the Chinese consumer market, fuelling the rapid development of China's creative industry. In particular, the post-80s and 90s generation consumer groups pursue unique experience and original innovation, which propel the huge demand for hobby & craft products. To date, there are more than 1,000 websites in China dedicated to hobby & craft enthusiasts, which have almost 400 million members. Just in Taobao alone, the e-commerce giant in China, there are 130,350 individual shops solely for hobby & craft products, materials, tools and related items.

    Esteemed lawyers share insights into intellectual property rights
    Intellectual property rights play a growing significant role in international trade and it is particularly essential for China as it is one of the world’s top five largest patent application countries. While upgrading original design and innovation capability, Chinese enterprises must strengthen their intellectual property rights consciousness to protect their rights and interests when launching new products in overseas markets.
    In response to the pressing issue, one of the show’s fringe events will be hosted by eminent intellectual property lawyers who will closely examine intellectual property rights and related issues, which are often encountered by Chinese enterprises. The seminar will encompass an introduction to intellectual property rights, case studies as well as the latest trends and overseas promotion channels.
    Paperworld China is organised by Messe Frankfurt (Shanghai) Co Ltd, the China Chamber of Commerce for I/E of Light Industrial Products & Arts-Crafts and Guangzhou Foreign Trade South China Exhibition Corp Ltd.
    (Messe Frankfurt Group)
    05.08.2015   FSC certification yields financial benefits for tropical forest businesses, shows WWF report    ( Company news )

    Company news A new WWF cost-benefit analysis of Forest Stewardship Council (FSC) certification on a cross-section of forest operators finds that tropical and small or medium producers, regardless of geography, can benefit significantly from attaining FSC certification.

    The Profitability and Sustainability in Responsible Forestry: Economic impacts of FSC certification on forest operators report found that on average, the companies examined earned an extra US$1.80 for every cubic metre of FSC-certified roundwood or equivalent, over and above costs associated with certification. The Net Present Value (NPV) of the decision to pursue FSC was, on average, $6.69 per cubic metre of roundwood or equivalent – a strong positive business case overall for the decision to pursue FSC.

    These outcomes were achieved through price premiums, increased efficiency and other financial benefits. Results varied significantly by company size and geography. Tropical companies as well as small- and medium-size enterprises – regardless of geography – showed financial gains, while temperate and large producers were found to experience small losses. On average, it took the companies that were studied six years to break even on their investment in FSC.

    “The results of WWF’s new report challenge the assumption that the costs of FSC certification, particularly in the tropics, are greater than the benefits,” said Rod Taylor, Director, WWF’s Global Forests Programme. “This study shows that while the investment costs of entering into an FSC certification process can be considerable, for tropical forest operators and small or medium enterprises, the investment can be good for the bottom line. This is an important finding given the crucial role of these groups in safeguarding forests for the future.”

    The report is designed to help forest companies plan financially for forest certification, and provides important insight for forest companies and buyers of wood products, as well as governments, financiers and others with a stake in the impact of FSC certification.

    “The methodology can be applied by a company on their own operations to do a practical calculation of what they would gain from FSC certification,” Taylor said. “Advocates of responsible forestry need to support forest managers and investors with tools to assess where investing in certification brings most benefit. WWF has begun work on such tools but a broader alliance of partners is required to make these standard practice.”

    There is a noticeable gap in existing literature when it comes to quantitative and detailed analysis of FSC certification. WWF’s Profitability and Sustainability in Responsible Forestry: Economic impacts of FSC certification on forest operators report takes a new approach to analyse a wide range of quantitative and qualitative data that has been acquired in cooperation with forestry consultants Form Valuations B.V.

    The WWF study included research on 11 companies in seven countries, and explores whether there is an economic case for forest operators to adopt FSC certification, and for financiers to prefer it. Financial data was collected primarily through in-person interviews with company management, as well as a review of financial reports, audit reports and other supporting documentation.
    (WWF Forests for Life Programme)
    04.08.2015   GIDUE at Labelexpo Europe 2015 - Official Preview    ( Company news )

    Company news GIDUE announce that two completely new press line will be shown at Labelexpo Europe 2015.

    -The new M4 press (430mm width): the most effective press for printing Labels and Flexible Packaging with excellent register stability at all speeds.

    -The new M6 press (670 mm width): a dedicated mid-web press for the Flexible Packaging market.

    Both presses will be showing the GIDUE Digital Automation program in the print cylinder configuration for M4 and in the print sleeve configuration for the M6.

    During the show “live” exchange of multiple jobs with less than 10 meters of substrate waste and 1 minute of set-up time will be performed.

    GIDUE confirms its full commitment for the REVO Project for 7 Colors Extended Gamut technology and will proudly host the full REVO plate manufacturing process with new plate manufacturing and printing “live at the show”. New sets of plates will be produced and used for printing jobs on both presses everyday.

    REVO Digital Flexo and GIDUE Digital Automation will prove that traditional Digital and Digital Flexo process are comparable for flexibility in running short runs, with clear economic advantages for Digital Flexo.

    At Labelexpo the REVO Team will introduce the concept of Non-Stop Digital Flexo with the aim to achieve up to 95% press up-time. To achieve this objective on the new M6 GIDUE automatic turret un-winder and re-winder will be shown. On both M4 and M6 presses GIDUE Excellence Technology will allow for fully automated job exchange on-the-fly without stopping the press.

    GIDUE confirms also its commitment towards the introduction of UV Flexo Technology in the Flexible Packaging also for food applications, a complete new set of technologies and procedures will be unveiled at the show.

    GIDUE will attend the show in HALL 11 stand C10
    (Nuova Gidue S.r.l.)
    04.08.2015   A.Celli TANDEM®: affordable flexibility    ( Company news )

    Company news A.Celli Nonwovens launches a new rewinder characterized by high production flexibility.

    Optimizing production and incrementing line productivity.

    Today, both these goals can be obtained, limiting investments to a minimum, thanks to TANDEM®, the newly conceived rewinder designed by A. Celli Nonwovens to answer this twofold demand.

    A.Celli Nonwovens TANDEM® is an additional rewinder, external to the line, that allows managing particular needs as far as volume, diameter and cutting formats while at the same time guaranteeing extra capacity during peaks in production.

    Customizable, plug-and-play, perfectly adaptable and compatible with any standard rewinding system or complete line for both tissue and nonwovens.

    A.Celli Nonwovens TANDEM®: Affordable flexibility!
    (A. Celli Nonwovens S.p.A.)
    04.08.2015   Mohawk Celebrates Grand Opening of Northeast Envelope Converting Center in ...    ( Company news )

    Company news ...South Hadley, Massachusetts

    Mohawk, North America’s largest privately-owned manufacturer of fine papers, envelopes and specialty substrates for commercial and digital printing, celebrates the grand opening of a new envelope converting facility in the town of South Hadley, Massachusetts.

    Members of the press and local business community toured the facility today with Mohawk Chairman and CEO, Thomas D. O’Connor, Jr.

    The 112,342 square foot site located at 28 Gaylord Street features envelope converting capacity to service the company’s East Coast, Mid-Atlantic and European customers.

    Mohawk invested approximately $2 million to retrofit the South Hadley facility, which included upgrading electrical systems, installing air and vacuum lines, and purchasing and installing envelope converting and manufacturing equipment.

    The facility has been operational since May, and is expected to produce 500 million envelopes annually. To date, Mohawk has hired 16 new employees, and plans to hire up to 40 employees over the next year.

    DTZ of Boston managed the site location process and lease negotiation for Mohawk.

    Mohawk continually sets industry-leading standards for safe operations and the company is known throughout the paper industry for its state-of-the-art manufacturing and converting capabilities.
    (Mohawk Fine Papers Inc.)
    04.08.2015   Changes to Metso's executive team    ( Company news )

    Company news Two new appointments have been made to Metso's Executive Team. Perttu Louhiluoto (photo left) has been appointed President, Services, and John Quinlivan (photo right) has been appointed President, Flow Control. Both appointments will take effect immediately.

    Perttu Louhiluoto (b. 1964) has been President of Metso's Flow Control business area and its preceding Automation segment since 2012. He has been with Metso since 2008. In his new position, Louhiluoto will be responsible for the Services business area, which offers Metso's customers in the mining and aggregates sectors comprehensive services ranging from spare and wear parts to process optimization solutions. Louhiluoto will work at Metso's Head Office in Helsinki, Finland.

    "Perttu Louhiluoto has done a good job and has achieved good results in recent years in Automation and Flow Control, which has steadily grown and improved its profitability. In his new role he will ensure that the Services business continues make the big difference to its customers by offering the best solutions in the market. Moreover, for Metso it is of utmost importance that Services grows and further improves its profitability in the years ahead," says Metso's President and CEO Matti Kähkönen.

    John Quinlivan (b. 1961) has held several management positions within Metso's Automation and Flow Control, since 1989. Quinlivan works in Shrewsbury, Massachusetts, in the United States.

    "Flow Control is an important growth business for Metso, and its role in the success of the entire company has significantly grown in recent years. John Quinlivan is a result-oriented professional with long experience with our valve business and its markets, and I believe this will support his success in his new role. We warmly welcome John to Metso's Executive Team," Kähkönen notes.

    With these appointments, Metso's Executive Team consists of Matti Kähkönen, President and CEO (Chairman of the Executive Team); Harri Nikunen, CFO and Deputy to the CEO; João Ney Colagrossi, President, Minerals; Perttu Louhiluoto, President, Services; John Quinlivan, President, Flow Control; Merja Kamppari, Senior Vice President, Human Resources; and Simo Sääskilahti, Senior Vice President, Strategy and Business Development.

    Juha Silvennoinen, the current President of Services, will leave Metso. "I want to thank Juha Silvennoinen for his contribution in Metso's development. We wish him the best of success in the future," Kähkönen notes.
    (Metso Corporation)
    04.08.2015   Neenah Completes Purchase of FiberMark    ( Company news )

    Company news Neenah Paper, Inc. (NYSE: NP) announced that it had completed the previously announced purchase of all of the outstanding equity of ASP FiberMark, LLC ("FiberMark") from an affiliate of American Securities LLC on August 1, 2015.

    FiberMark, with annual sales of over $160 million, is a specialty coating and finishing company with a strong presence in luxury packaging and overlapping technical product categories.The acquisition is expected to deliver synergies of $6 million per year within three years, with ongoing accretion (excluding one-time costs) of over $0.40 per share. The Company indicated it expects one-time costs in 2015 of approximately $5 million for transaction fees and integration.

    The purchase price of $120 million, subject to adjustments for acquired cash and a working capital true up, resulted in a cash payment of $123 million at closing, and was financed through $80 million of cash on hand and the balance from available borrowing capacity on the Company's revolving credit facility.
    (Neenah Paper Inc.)
    03.08.2015   GEMÜ 567 BioStar® control - Aseptic stainless steel control valve for small volumes    ( Company news )

    Company news Aseptic diaphragm valves are frequently used to control sterile applications. However, small volumes can only be controlled with an inadequate level of accuracy, or not at all. GEMÜ has now developed the GEMÜ 567 BioStar® control valve in order to solve this problem.

    The GEMÜ 567 BioStar® control is a 2/2-way globe valve with a regulating needle or regulating cone for high control accuracy and precise dosing. The valve seat on both versions is sealed using a soft-seated seal. The actuator is separated from the media-wetted area by an FDA-compliant PTFE diaphragm. This ensures a permanent, temperature-resistant seal and thus meets the high requirements of the pharmaceutical and food industries. Compared with bellows valves, cleaning the valve is significantly improved by the hygienic and minimal deadleg design. It is likewise possible to clean and sterilize the valve using a CIP or SIP procedure.

    The valve is also available with an integrated bypass so that the flow velocities required for the rest of the system can be achieved during the cleaning process. At the customer's request, GEMÜ 567 BioStar® control can be integrated into a multi-port valve block. This is another special feature of the valve which not only requires considerably less space in the system, but also significantly reduces the installation and welding effort. All surfaces which come into contact with the product are precision-turned or polished. Furthermore, additional electropolishing can achieve a high surface quality of Ra 0.25 µm. EHEDG certification and testing in accordance with Procedure 3A are currently in preparation. The GEMÜ 567 BioStar® control valve is available as an angled design in nominal sizes DN 8, DN 10 and DN 15.
    (GEMÜ Gebr. Müller Apparatebau GmbH & Co. KG)
    03.08.2015   UPM receives top scores in WWF UK Timber Scorecard    ( Company news )

    Company news UPM receives a top score in the recently released WWF UK Timber Scorecard. The scorecard assesses more than 100 retailers, manufacturers and traders in the UK for their commitment and performance in responsible forest trade during the years 2013 – 2014. UPM was one of a small number of companies which received the highest score of 3.

    The scorecard looks at companies’ practices and policies in relation to sustainably sourced timber and timber products, against a backdrop of increasing deforestation. The top-performing companies are characterized by the clarity and simplicity with which they report their timber and timber product purchasing and performance. They have made public commitments, and there is visible evidence that they have set up the right policies to ensure sustainable timber is being used as much as possible in their products.

    “Tracing the origin of wood is a prerequisite for UPM,” says John Sanderson, Head of Environment, UK and Ireland. “We verify that the wood raw material supplied to our mills - whether in China, Uruguay, the US or Europe - is sustainably sourced, legally logged and procured according to the basic requirements of international forest certification schemes and timber regulations. UPM’s tracing systems and chain of custody model cover the requirements for both PEFC™ and FSC® forest certification schemes, and 83% of UPM’s paper is produced using fibre that meets the criteria of one or both of these schemes. In addition, UPM has an FSC and PEFC Group Certificate in Finland and a UKWAS Group Certificate in the UK which private forest owners can sign up to,” he continues.

    “In 2014, UPM sourced more than 26 million cubic meters of wood from around the world, of which almost 290 000 cubic meters comes from forests in the UK. In addition to the high percentage of sustainably managed virgin fibre used in our production, we are also the world’s largest user of recovered paper in the graphic papers’ production. And this combination makes us a truly responsible player in this field,” Sanderson concludes.
    (UPM Kymmene (UK) Ltd)
    03.08.2015   Minerals Technologies Appoints W. Rand Mendez, Senior Vice President & Managing Director, ...    ( Company news )

    Company news ...Paper PCC

    Minerals Technologies Inc. (NYSE: MTX) announced that its Board of Directors has appointed W. Rand Mendez as Senior Vice President and Managing Director of its Paper PCC business unit. Mr. Mendez joins Minerals Technologies Inc. from E. I. du Pont de Nemours and Co., where he held a variety of operational and product leadership positions across a number of businesses. He will become an officer of Minerals Technologies and a member of the company's management team.

    "We are happy to have Rand Mendez join Minerals Technologies," said Joseph C. Muscari, Chairman and Chief Executive Officer. "He brings more than 32 years of business and leadership experience, and will be a strong addition to our management team. Rand's main focus will be on continuing the growth of Paper PCC through geographic expansion and new product innovation."

    Mr. Mendez will succeed D.J. Monagle, III, who was previously named Chief Operating Officer, Specialty Minerals Inc. and the Minteq Group, in February of 2014, but had also maintained responsibility for the company's Paper PCC business as Senior Vice President and Managing Director.

    Mr. Mendez joined DuPont in 1982 and assumed positions of increasing responsibility. In 1996, he was appointed Global Business Manager, DuPont Specialty Chemicals. He was subsequently named Sales and Marketing Director, DuPont Surfaces; Business Director, DuPont Safety Resources; and in 2008, Corporate Marketing Director, DuPont Corporate Marketing & Sales.

    Rand Mendez holds a Bachelor's of Science Degree in Mechanical Engineering and a Master's of Business Administration, both from Duke University.
    (MTI Minerals Technologies Inc.)
    03.08.2015   Spooner - investing in America    ( Company news )

    Company news Continued innovation and investment at Spooner Industries has led to some exciting new developments which will be showcased at Pack Expo, Las Vegas this September.

    Photo: Largest Spooner oven built to date - producing over 14,000 loaves per hour

    Delivering premium customer service is key so the strengthening of the customer facing team in the USA with the recent appointment of Jeff Privatt is to ensure just that. Working alongside VP Preston Henderson (Food & Galvanizing) and Tom Petrich (Spooner Plus), Jeff’s role is developing and providing first- class support to a growing number of new and existing customers across North America.

    Innovation underpins Spooner technology. As a proven world class leader for ovens and oven technology, particularly in the baking industry, selling a concept and delivering a tailored product best describes what Spooner Industries has done successfully for over 80 years. So much so that customers have elevated the company name to a brand, not unlike ‘Hoover’ is reference to a vacuum cleaner; ‘a Spooner’ is reference to a Spooner oven.

    It goes without saying that the Spooner range of equipment is designed and manufactured to a very high standard giving flexible, reliable operation and ease of control. This ensures that optimum colour, texture and dryness are achieved. Based on the unique forced convection technologies of Spooner for processes that require the movement of air to heat, cool, bake or dry products, equipment incorporates high performance airflow and control technologies together with energy efficient measures throughout.

    Showcasing at PackExpo this year is the ‘hot’ Spooner – a hybrid oven that brings together the best of convection and radiant technology to deliver a consistent product, faster and with precision reliability. Developed over the last 12 months, the pioneering technology incorporates a burner new-to-market, which maintains reliable delivery of radiant heat to exact specified temperatures. Another feature is the minimal response times to temperature changes – minutes rather than hours providing unique controllability of heat. These quick changes not only provide economies in terms of energy but also produce less scrap whilst increasing product yield.

    The Spooner bakery experts will be in Las Vegas at PackExpo, Booth S-8828, with full details of the new hybrid oven. Andrew Robinson and Preston Henderson will be happy to talk through the latest innovation in Spooner bakery equipment and packaging process requirements.
    (Spooner Industries Ltd)
    03.08.2015   Once again... iT's Tissue!    ( Company news )

    Company news iT's Tissue – the 2nd Edition of the Italian Technology Experience has wrapped up with attendance of more than 1000 tissue professionals from around the world. The event was a weeklong journey of demonstrations inside the open doors of 12 of the leading equipment manufacturers from the tissue industry.

    At Toscotec, the staff welcomed worldwide attendees with enthusiasm and passion. It is the same passion found throughout the organization whether you look in areas of project development based on the newest technologies or innovative energy saving solutions. Enthusiasm and Passion are key components that have led to Toscotec’s recent successes.

    Our most recent success, PRODERGY, was on display at the event. PRODERGY is the 1st tissue machine that unites top production performance, product quality, and energy efficiency, all made possible the by configuration of the drying section. On display at Toscotec was an AHEAD-2.0L Crescent Former with a width of 5.63m (222”) featuring a 22’ Steel Yankee, the largest Steel Yankee Dryer ever built for tissue production. The line was also equipped with a 22 FT Milltech Steam Heated Hood which significantly improves the production capacity of the entire plant

    In addition, we also featured a 2.7 (106”) wide Crescent Former tissue machine, the AHEAD-2.0, completely assembled in an adjacent assembly hall. The AHEAD-2.0 showcases Toscotec’s leading technologies and is designed to high production needs with any type of raw material while maintaining the highest quality end product.

    Attendees finished their tour with a walk through of Milltech’s fabrication facilities. Several Hoods were under various levels of construction ranging from 12’ Suction Hoods to 15’ Gas Fired Hoods to 22’ Steam Heated Hoods. Milltech’s workshop was full of equipment ready to be sent to destinations around the world. The unique experience of being able to inspect the inside construction of the Hoods showcased the advance design and high quality of construction and materials that repeat customers have come to expect from Milltech.

    Toscotec’s ability to provide flexible design solutions on new or existing equipment coupled with over 65 years of experience in delivering Turnkey Projects has made Toscotec the leading supplier of tissue machines in the world. The iT’s Tissue event provided a unique opportunity to inspect firsthand the Toscotec passion, enthusiasm and quality evident in the employees and the equipment.

    We would like to thank all those who attended iT’s Tissue as this type of event allows us to build the personal and professional relationships to help make everyone successful !

    It’s Tissue – 3rd Edition will be held in 2018. Hope to see you there!!
    (Toscotec S.p.A.)
    03.08.2015   Flint Group introduces new letterpress plate    ( Company news )

    Company news Water washable, steel based nyloprint® WS WD with improved reproduction characteristics for higher print quality

    For many years Flint Group has offered a broad range of letterpress printing plates. Ongoing research work is the foundation for highly specialised and sophisticated products which meet all customer requirements. Now, the company has developed a new water washable, steel based printing plate: nyloprint® WS WD. With its optimised reproduction characteristics, the new plate shows significantly improved print quality.

    Due to the more precise reproduction of the smallest elements, the new printing plate is ideally suited for security printing as well as tubes, cups and can printing. Especially in these demanding segments, high print quality and a low dot gain are essential. The new letterpress plate, nyloprint® WS WD, allows a virtual 1:1 copy of the digital data onto the printing plate, resulting in a more detailed image definition of the relief. In printing, an extraordinary tonal range combined with a higher density can be achieved.

    Excellent results are achieved with LED exposure on Flint Group’s nyloprint® NExT Exposure unit. However, the new plate can be exposed with every standard tube type and processed with both plushes and brushes. Extensive field tests show very positive customer feedback: Especially improved reproduction characteristics as well as excellent print results have been reported extremely positive.

    The new water washable, steel based letterpress plate nyloprint® WS WD will be available to the market in the middle of July, 2015.
    (Flint Group Germany GmbH)
    03.08.2015   Pack 2 Pack 2015 Exhibition in Egypt     ( Company news )

    Company news Pack2Pack Expo Egypt 2015 is now in its 4th edition which is supported by the Ministry of Industry & Foreign Trade Egypt as a premier event in Africa and the Middle East for International Leading Exhibition for Packing & Packaging Solutions Exhibition which will be held from 22-24 October 2015 in Cairo International Convention Center (CICC), Cairo – Egypt

    Pack2Pack Expo Egypt 2015 is an annual event held in Cairo for the Packaging industry and is accredited and approved by International Associations and Governmental Bodies Supporters.
    Pack2Pack Expo Egypt 2015 plans to give its participants a unique chance to meet prospective decision-makers, experts and suppliers, This will be conveyed through an Business Match Making Program.

    Among our prestigious list of attendees from all over the world and by participating at this event, your organization can benefit in the following ways:
    -meet Trade delegates from major emerging countries from the MENA Region, Middle East, South East Asia, Eastern Europe, Western Europe and Africa
    -Connect with decision-makers, experts and suppliers during the show
    -Meet investment promotion agencies
    -Interact with exhibitors during Pack2Pack Exhibition
    -Brand Building among Industry & end users.
    (Nile Trade Fairs)
    31.07.2015   Idempapers speeds up its growth and its development towards high value-added technical papers    ( Company news )

    Company news The European leader in the carbonless paper market and producer of high value-added specialty papers, the Belgian company Idempapers SA has earned a reputation as a producer of quality and innovative paper products that are recognized for their reliability and technicality. Idempapers employs 380 employees and achieved a turnover of 145 M€ in 2014.

    In a challenging environment for the paper industry that is marked by competitive pressure on prices, escalating costs of raw materials, and a steady decline in the demand for paper products, Idempapers has significantly and successfully improved its financial results and market position since the company’s 2009 management buy-out.

    This success comes essentially from a significant improvement in its manufacturing performance, the realignment of the company’s resources toward specialty products, as well as long-standing partnerships with customers who rely on the company’s innovation and rapid reaction to change.

    Idempapers aims to speed up its growth and return to sustainable profitability through the following:
    • Reinforcing its leading European position in carbonless papers by leveraging partnerships with the largest merchants.
    • Intensifying the development of new, high value-added technical products
    • Continuing the improvement of manufacturing facilities and capabilities in order to make them even more efficient and flexible.
    • Continuing ongoing programs for further control and improve the company’s cost structure.

    In order to reach these objectives, Idempapers has embarked on a major investment program.

    These projects were initiated in early 2015, and include:
    • Reinforcement of R&D teams to accelerate the launch of new and technical high-specialty products.
    • A significant increase in manufacturing capacity by raising the speed of Idempapers machine 4
    • Adapting reels and sheets converting capacity to new production capabilities and product mixes.
    • Various ongoing programs for further improvement in both productivity and quality
    • Further reductions in energy consumption
    • Outsourcing of logistics activities

    Most of these projects are currently already being implemented and will be fully operational by the end of 2015. In addition to the ongoing development of its current product ranges, Idempapers will announce in September the launch of new high technology product lines.

    These major developments and investments will enable Idempapers to further reinforce its position as a manufacturer of high value-added specialty papers, and ensure its rapid return to sustainable profitability as early as 2016.
    (IdemPapers S.A.)
    31.07.2015   The Fedrigoni Group confirms its growth trend in the first half year and consolidates its position..    ( Company news )

    Company news ...on the American markets with acquisitions in the USA and Brazil


    Key consolidated results at 30 June 2015
    -Revenues of 482.1 mln/€: +8.9% over 2014
    -EBITDA of 64.0 mln/€ (57.9 mln/€ at 30 June 2014): +4.2% with an unchanged consolidation scope, +10.6% including the effect of the 2015
    -Net profit of 31.1 mln/€ (29.9 mln/€ at 30 June 2014): +4% over 2014
    including the effect of the 2015 acquisitions
    -Net financial position of 196.8 mln/€ compared to 72.7 mln/€ at 31 December 2014 due to the acquisitions carried out during the period.

    The Board of Directors of Fedrigoni S.p.A. – a leading international operator in the production and sale of various types of paper and in particular high value added paper, security products and self-adhesive items – presented the interim condensed consolidated financial statements for the six months ended 30 June 2015.
    «We are very satisfied with this first half year during which the Group further consolidated its international presence, thanks to the recent acquisitions carried out in the United States and in Brazil, continuing the strategic direction communicated to the markets last year”, stated the Group’s CEO Claudio Alfonsi (photo), who continued: “the economic and financial results for the period moreover show a constant growth dynamic that has been continuing for several years and testify to the validity of our strategic decisions and the distinctive positioning we hold in high value added and high profitability sectors, despite the extremely adverse trend that has taken place in cellulose prices».

    Key consolidated results for the first half of 2015
    The Fedrigoni Group achieved consolidated revenues of € 482.1 million
    in the first half of 2015, an increase of 8.9% over 2014, due to a favorable performance in all business segments (in particular converting) and in addition to the contribution arriving from the two acquisitions which, in only 3 months and 1 month respectively, added around € 17 million to the Group’s turnover.
    From a geographical standpoint revenues earned outside Italy represented approximately 64% of the total, with a significant rise taking place in sales outside Europe (+21.6%) and a good performance being achieved in Italy (+11.3%).

    -EBITDA amounted to € 64.0 million, an increase of 4.2% over the first
    half of 2014 with an unchanged consolidation scope (+10.6% including the effect of the 2015 acquisitions).
    Consolidating two entities operating in high margin segments (papers, film and adhesives for digital printing, and special and security papers) has enabled the Group to make further improvements to its EBITDA, despite the negative effect of trends in fibrous raw material
    -Net profit totaled € 31.1 million, a rise of 4% over 2014 including the effect of the 2015 acquisitions. A comparison between the results for the two periods is affected by non-recurring costs of €1.1 million
    arising as a result of the fire at the Verona factory on 2 July 2015. In 2014 on the other hand the result was positively affected by income of €5.3 million arising from the allocation of “white certificates” for investments in energy savings made in previous years.

    The Group had a net financial position of € 196.8 million at 30 June 2015, representing an increase over the figure of € 72.7 million at
    31 December 2014 due to the acquisitions carried out in the period
    (Fedrigoni S.p.A.)
    31.07.2015   Interim Report Q2/2015: UPM's good progress continued in Q2, with higher profits year-on-year     ( Company news )

    Company news Q2 2015 compared with Q2 2014
    • Earnings per share excluding special items were EUR 0.33 (0.26), and reported EUR 0.30 (0.25)
    • Operating profit excluding special items increased to EUR 227 million, 8.9% of sales (186 million, 7.6% of sales)
    • Profitability was underpinned by profit improvement actions and favourable exchange rates
    • In Q2 2015, the profit improvement programme progressed well, reaching a cost reduction impact of EUR 27 million (annualised EUR 108 million)
    • Operating cash flow was strong at EUR 324 million (215 million)

    Q1–Q2 2015 compared with Q1–Q2 2014
    • Earnings per share excluding special items were EUR 0.62 (0.53), and reported EUR 0.59 (0.61)
    • Operating profit excluding special items increased to EUR 431 million, 8.6% of sales (382 million, 7.8% of sales)
    UPM started commercial deliveries of advanced renewable diesel and completed the UPM Raflatac expansions in Poland and APAC
    • UPM invests in the top-performing plywood and pulp businesses by expanding the Otepää plywood mill in Estonia and improving efficiency in the UPM Kaukas pulp mill
    • UPM closed 800,000 tonnes of graphic paper production capacity in Europe

    Jussi Pesonen (photo), President and CEO comments on the results:
    “Our second quarter showed good progress, our operating profit improved year-on-year and our operating cash flow was strong. Overall, the Group results were supported by our profit improvement programmes, particularly visible as lower variable costs.
    UPM Biorefining, UPM Raflatac, UPM Plywood and UPM Paper Asia enjoyed favourable market conditions and achieved good performance. I’m pleased that we have ongoing growth projects in all of these businesses. Considering the current electricity markets UPM Energy made a fair result, mainly due to increased hydro power volumes.
    Currency development had an overall positive impact on our Group results but affected our businesses differently. The positive currency impact supported the UPM Biorefining business, whereas the corresponding negative impact of currency hedges affected UPM Paper ENA and UPM Paper Asia. Strong pulp price development in euros boosted UPM Biorefining results but increased costs in our paper businesses.
    During the second quarter, our UPM BioVerno renewable diesel was introduced to Finnish consumers, UPM Raflatac’s investments in APAC and in Poland were completed and a EUR 50 million investment was started at UPM Kaukas pulp mill in Lappeenranta, Finland. These, together with ongoing investments at the UPM Kymi pulp mill, Otepää plywood mill and UPM Changshu paper mill, will support profit growth in the upcoming quarters.
    Overall, I remain confident about the continuing profit improvement programme and the ongoing growth projects. UPM continues to be well-positioned for earnings growth”.

    Outlook for 2015
    The improved profitability achieved in 2014 is expected to continue in 2015, and there are prospects for further improvement. Profitability is underpinned by the EUR 150 million profit improvement programme, favourable currencies, as well as the first positive impacts from the company’s growth projects. Profitability is affected by lower publication paper prices and lower electricity sales prices, compared to 2014.
    In the second half of 2015 compared to the first half of 2015, UPM Paper ENA profitability is expected to improve.

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