June 2021 - Page 2 of 2 - Midland Paper

Bloomsbury acquisition strengthens Consumer division: Acquisition of Head of Zeus Limited

Bloomsbury Publishing Plc announces that it has completed the acquisition of the issued share capital of Head of Zeus Limited. The total valuation is £8.45 million, including payments of pre-existing loans. The consideration, net of pre-existing loans, is £7.35 million, of which £5.5 million will be satisfied in cash at completion, with £1.1 million payable in cash post completion, subject to working capital and other considerations, and £0.75 million of deferred consideration payable in cash subject to achievement of revenue, profit and Netflix release targets. Head of Zeus is an independent publisher of genre fiction and narrative non-fiction and children’s books, based in London. It has published many bestsellers, won literary prizes and industry awards. Its best-selling authors include Dan Jones, Cixin Liu, Victoria Hislop, and Lesley Thomson, and Elodie Harper, whose The Wolf Den went last week to number 5 in The Times bestseller list. Cixin Liu’s bestselling science fiction trilogy, The Three-Body Problem, is being adapted for Netflix by David Benioff and D.B. Weiss, creators of HBO’s Game of Thrones.

Bloomsbury’s Audited Preliminary Results for the year ended 28 February 2021

Financial Highlights: *Revenues increased by 14% to £185.1 million (2019/20: £162.8 million) *Profit before taxation and highlighted items4 grew by 22% to £19.2 million, up from £15.7 million in 2019/20 *Profit before taxation grew by 31% to £17.3 million (2019/20: £13.2 million) *Net cash of £54.5 million at 28 February 2021, up 74% (2020: £31.3 million) *Cash conversion of 142% (2019/20: 111%)

A Better Way to Produce Books Locally and Fulfill Global Demand: Spotlight on HP Publishing Solutions (publishersweekly.com)

Through its global print partner network, HP offers publishers a more economic, sustainable, and resilient way to do business. Print-on-demand is not a new capability. In fact, publishers have been benefiting from POD for decades. “However, it’s typically been used for managing lower print volume requirements,” says Paul Randall, product marketing manager at HP Publishing Solutions. “But now the industry needs to address other challenges around the sustainability of its supply chains, as well as its ability to react quickly and with agility to changing market dynamics.” As the publishing industry continues to cope with the challenges of the Covid-19 pandemic, many publishers are finding that their supply chains are no longer sustainable. That’s where HP Publishing Solutions can help, with its global print partner network that offers publishers a better way to do business.

Report from the Aluminum Association and the Can Manufacturers Institute: Metal Remains the Recycling Champ

With metal packaging as our primary product, sustainability is ingrained in our business and will remain a core value for our Company moving forward. Through our Twentyby30 program, we are working with industry partners to educate our supply chain about how the format’s high recyclability and recycling rates support collective goals to advance the Circular Economy. A recent report from the Aluminum Association and the Can Manufacturers Institute helps tell this story, using the latest industry data to reinforce the strengths of aluminum beverage cans. The Aluminum Can Advantage: Sustainability Key Performance Indicators 2020 reveals that metal has maintained its industry-leading position as the most recycled beverage package in the world. In fact, data shows that consumers recycle aluminum cans at nearly double the rate of plastic bottles—a staggering discrepancy. When properly recovered, those used beverage cans (UBCs) fall within a closed-loop recycling process that allows for repeated—and infinite—recycling. Today, the average aluminum can in the United States contains 73 percent recycled content, compared to less than 6 percent for plastic (PET) bottles, demonstrating the staying power of the material and its viability for reuse.

Smurfit Kappa announces multimillion fuel conversion in Germany to substantially reduce CO2 emissions

Smurfit Kappa has announced a significant investment of €11.5 million in its Zülpich paper mill in Germany, which will fund a fuel conversion project aimed at significantly reducing the plant’s CO2 emissions. The plant currently produces approximately 500,000 tonnes of paper annually. The investment will allow a major redesign of the plant’s multi-fuel boiler, providing a more sustainable fuel source for the generation of steam and electricity at the mill. An integrated steam re-use system, which optimises energy usage, will replace coal as an energy source, and coal will be phased out. Following the current plans, it is expected that the redesigned boiler will be operational by the middle of 2022.

EFI Implementing Price Increases for Inkjet Inks, Supplies and Parts

In light of numerous market changes affecting costs for materials, components, chemicals, global freight and logistics, Electronics For Imaging, Inc. will be implementing price increases for its inkjet inks, parts and supplies. EFI™ will be implementing the price changes – which will apply to inks, supplies and printer parts across EFI’s VUTEk®, Wide-Format, Reggiani, Cretaprint®, Nozomi and Cubik product lines – as of July 1, 2021. Price increases will vary by product; EFI will be communicating specific increases directly to customers and channel partners.

TC Transcontinental acquires BGI Retail Inc. and further expands its offering of in-store marketing solutions

TC Transcontinental announced the acquisition of BGI Retail Inc., a full service in-store design and solution partner for retailers and global brands. This transaction, which follows the acquisition of Holland & Crosby Limited in October 2019 and Artisan Complete Limited in January 2020, is aligned with TC Transcontinental’s objective to continue growing in the in-store marketing (ISM) vertical, a market with significant opportunities where TC Transcontinental Printing’s ISM Group is already a leading player in Canada. Located in Paris, Ontario, BGI Retail employs 123 people and offers an integrated value proposition focused on in-house design, engineering, manufacturing, installation and management of retail solutions and brand-defining consumer experiences, for both retailers and global brands across North America. Its products and services include plastic and metal fabrication, millwork and fixturing, print and graphics, and decor. With this acquisition, TC Transcontinental Printing’s ISM Group now employs more than 700 people and, combined with recent new business, is expected to generate revenues of close to $200 million on an annualized basis.

Clearwater Paper Announces Closure of Neenah, Wisconsin Facility

Clearwater Paper Corporation announced the indefinite closure of its Neenah, Wisconsin facility, which includes three tissue machines and ten converting lines, removing a total paper production capacity of approximately 54,000 tons. Clearwater Paper intends to indefinitely close Neenah and exit the away from home business by the end of July 2021. “Despite the best efforts of our dedicated employees, our Neenah location and assets cannot cost effectively compete in the markets that we serve,” said Arsen Kitch, president and chief executive officer. “This was a difficult decision, because it affects our people, their families and the Neenah community.” The facility’s approximately 290 employees will be impacted by the closure.

Significant investments in 2020-2022 to improve Kotkamills’ operations

Reducing carbon dioxide emissions, water protection, and using energy more efficiently are key targets of Kotkamills' strategy. In 2020, significant investments were made to improve the mill's energy efficiency. The aim is to complete the big project to reduce the wastewater treatment plant's load and the mill's carbon dioxide emissions by August 2021. Investment projects stretching also into 2022 have been launched. The most significant investments and measures in 2020-2021 have targeted the maintenance and efficiency-Improvements of the Kotkamills paper machine that was commissioned back in the 1950s, as well as the pulp mill modernization projects. In 2020 the old drum washing line of the pulp production was decommissioned and the remaining washers were modernized. This improved the washing line's efficiency, increased the usability, and improved the quality of the pulp produced as well as the energy efficiency. As a result of the modification, the pulp mill's overall electricity consumption dropped by about 10 percent. The project will continue with a significant replacement investment aiming to increase the paper machine's capacity by upgrading the cooking lines end equipment and thus enabling the needed pulp production.

SWAPP® with BillerudKorsnäs to sustainable packaging

SWAPP® to paper packaging for a sustainable future! SWAPP® with an extra P for paper is a range of fibre-based packaging materials from BillerudKorsnäs to enable transition from plastic to paper and meet new consumer demands through better sustainability performance for people and the planet. BillerudKorsnäs’ SWAPP® is an opportunity for companies to grow business by meeting new consumer and regulatory demands through renewable and innovative paper applications. SWAPP® is a collaborative and seamless process where the BillerudKorsnäs guides brand owners and retailers through the transformation towards sustainable paper packaging solutions. “The FMCG packaging market is in a transformation phase – immense change will have to take place if brand owners and retailers are to meet directives and fulfil corporate commitments by 2025. With the SWAPP® offering BillerudKorsnäs provides sustainable paper alternatives to resolve some of the most imminent challenges: driving plastic reduction, CO2 reduction, and increasing recycling rates”, says Patrik Bosander, Director Packaging Solutions at BillerudKorsnäs.

WestRock Announces Commercial and Operational Leadership Changes

WestRock Company announced the future retirement of Jeff Chalovich, president of Corrugated Packaging and chief commercial officer, after an incredible 23-year career with WestRock. Moving forward, WestRock has also announced an evolution of its commercial and operational leadership structure and team reporting to president and chief executive officer, David B. Sewell. New Executive Leadership Structure and Roles: *Patrick (Pat) Lindner is assuming the role of president, Commercial, Innovation and Sustainability. *Patrick Kivits is assuming the role of president, Consumer Packaging. *Pete Durette is assuming the role of president, Corrugated Packaging, leading the converting sales and operations for the corrugated box business. *John O’Neal is assuming the role of president, Global Paper. This new organization combines the sales and commercial operations of the Consumer and Corrugated paperboard and containerboard businesses. *Tom Stigers is now responsible for the operations of all WestRock mills in the role of president, Mill Operations.

Food packaging is an essential part of achieving Europe’s Green Deal ambition

Food production is responsible for a quarter of the world’s greenhouse gas emissions, but today it is estimated that approximately one third of all food produced globally is wasted. This significant number represents 8% of total global greenhouse gas emissions.1 Packaging helps protect food from damage and spoilage from transport to storage and from stores to our homes. Packaging therefore ensures that the resources used to produce food, and the carbon footprint created, are not wasted. Food packaging is integral to the product it contains. With the demand of food on the rise, the need for sustainable packaging solutions also increases for consumers around Europe and the world. Food packaging is essential for food protection and availability. Crucially, it is part of the solution to enable sustainable food systems, which the EU Green Deal seeks to achieve.

Messages such as “Go Green, Go Paperless” are misleading. Two Sides’ new information sheet explains why.

Common inaccuracies about print and paper are still a major issue for the industry. These misconceptions are further reinforced by financial organisations, utility companies and many other service providers, as they increasingly encourage their customers to switch to electronic bills and statements. But instead of focusing on the potential cost savings of digital, often the incentive to switch is based on unfounded environmental claims such as “Go Green – Go Paperless” and “Choose e-billing and help save a tree”. These messages are unsubstantiated, misleading and can have a lasting effect on consumer perceptions of paper. Many leading organisations, including banks, utility companies and telecommunications providers, urge their customers to go paperless with claims that paperless bills, statements and other electronic communications save trees, are “greener” and better for the environment. These statements are greenwashing. These statements are not specific, not supported by reliable scientific evidence or relevant life cycle analyses and are misleading. Without evidence to support the claim being made such communication is Greenwashing and contravenes advertising regulations in most European countries.

Bloomsbury Completes acquisition of Red Globe Press

On 23 April 2021, Bloomsbury Publishing Plc (LSE: BMY), the leading independent publisher, announced that it has signed a sale and purchase agreement for the acquisition of certain assets of Red Globe Press (“RGP”), the academic imprint, from Macmillan Education Limited, a part of Springer Nature Group. Bloomsbury announces that pursuant to the terms of the sale and purchase agreement with Macmillan Education Limited, completion has taken place. The consideration was £3.7 million, of which £1.8 million has been satisfied in cash at completion and up to £1.9 million will be paid post-completion, subject to assignment of certain contracts.

U.S. Postal Service Proceeds with Request for Postal Rate Change

As part of “Delivering for America,” its 10-year plan to achieve financial sustainability and service excellence, the United States Postal Service filed notice today with the Postal Regulatory Commission (PRC) requesting price changes to take effect Aug. 29, 2021 that are in accordance with approvals provided by the PRC last year. The proposed price changes would raise overall Market Dominant product and service prices by approximately 6.9 percent. First-Class Mail prices would increase by 6.8 percent to offset declining revenue due to First-Class Mail volume declines. In the past 10 years, mail volume has declined by 46 billion pieces, or 28 percent, and is continuing to decline. Over the same period, First-Class Mail volume has dropped 32 percent, and single piece First-Class Mail volume — including letters bearing postage stamps — has declined 47 percent.

Print Unit Sales Rose 2.3% in Mid-May (publishersweekly.com)

Unit sales of print books rose 2.3% in the week ended May 22, 2021, over the comparable week in 2020, at outlets that report to NPD BookScan. The relatively small increase is due in part to last year’s release at this time of The Ballad of Songbirds and Snakes by Suzanne Collins, which sold more than 271,000 copies in its first week. As a result of Ballad’s blockbuster performance last year, units in the week dropped 24.4% in the young adult fiction category. The juvenile nonfiction category had its worst week so far this year, with units falling 21.3% compared to the week ended May 23, 2020, when parents were still heavily buying books to teach their children at home. My First Learn-to-Write Workbook by Crystal Radke was #1 in the category last year at this time, selling more than 20,000 copies, and it was tops again in the most recent week, selling just over 7,000 copies.

SCA invests in pellet mill to improve environmental performance

Since 1992, wood fuel pellets are produced at the Murbergsviken industrial site in Härnösand. In the drying process, terpenes and resin acids – natural substances in wood - are emitted. When vapour and particles are subject to sunlight, sometimes a refraction phenomenon occurs that makes the vapours look blueish and they may have an odd smell. “We now invest in new technology, a wet electrical filter, to better contain particles and thereby minimize the occasions when blue haze occurs”, says Per-Arne Persson, mill manager at SCA Bionorr.

Tetra Pak’s optimal integrated solution helps cut water usage and carbon emissions for the dairy sector

Tetra Pak showcases its new UHT 2.0 heating portfolio and Tetra Pak® E3/Speed Hyper packaging equipment on World Milk Day in support of this year’s theme of sustainability and Dairy’s commitment to innovation to reduce environmental footprint. Tetra Pak’s new UHT 2.0 portfolio with OneStep technology and Tetra Pak® E3/Speed Hyper reduce water and steam consumption, creating less wastewater and therefore also lowering the cost of its removal for Dairy manufacturers. Adding a Tetra Pak® Water Filtering Station to Tetra Pak® E3/Speed Hyper helps recover 5500 litres of water per filling machine running hour (up to 95%), while contributing to lower water consumption1. With water scarcity on the rise, wastewater is increasingly becoming a pressing industry concern. Up to a fifth of Tetra Pak’s customers are based in high or extremely high-risk water areas and the company is prioritising action to address this. The combination of UHT 2.0 with OneStep technology and Tetra Pak® E3/Speed Hyper scores highly across industry benchmarks for sustainability, with a 0.8 GHG Index score, a 0.3 Water Index score and a Product Losses Index score of 0.72. When compared to a conventional line solution3 this optimal integrated solution reduces GHG emissions by 20%, water usage by 70% and product losses by 30%.

Sun Chemical to Increase Prices on Inks, Coatings, and Adhesives in North America

Sun Chemical will increase prices across a broad portfolio of its packaging and commercial sheetfed inks, coatings, and adhesives in North America, effective July 1, 2021. The global raw material environment continues to demonstrate significant inflationary pressures. Raw material shortages are an ongoing concern, and the competition to secure these scarce resources has accelerated the cost increases within a majority of Sun Chemical’s raw material categories. In addition to raw material cost pressures, international and domestic logistics costs have soared as the economic recovery drives demand for these services. “The dynamics within the ink market are unprecedented,” said Chris Parrilli, President of North American Inks, Sun Chemical. “The lingering effects of the Texas weather event and the international logistics challenges coupled with the ongoing impacts of the COVID pandemic are all significantly impacting our operations. Sun Chemical’s primary objective is to keep our customers supplied with the products and services they need to meet their business objectives."

Interfor Continues to Grow with Acquisition of Four US Sawmills from Georgia-Pacific

Interfor Corporation announced that it has reached an agreement with Georgia-Pacific Wood Products LLC and GP Wood Products LLC to acquire four of its sawmill operations located in Bay Springs, MS, Fayette, AL, DeQuincy, LA and Philomath. The total purchase price of US$375 MM, which includes working capital, will be funded entirely from cash on hand. The Sawmill Operations are highly complementary to Interfor’s existing platforms in the US South and the US Northwest, and the acquisition will support accelerated growth and enhance the Company’s position to benefit from robust market conditions. The acquisition will be immediately accretive to Interfor’s earnings and is expected to provide attractive returns in both the near-term and over the long-term.

ANDRITZ to supply two complete OCC lines to Nine Dragons, China

International technology Group ANDRITZ has received an order from Nine Dragons Paper Industries to supply two complete OCC lines with a capacity of 2,000 bdmt/d each to their mills in China. The lines feature the following technological highlights: *FibreFlow Drum pulping systems, ensuring premium accept quality thanks to gentle slushing and efficient removal of coarse contaminants with minimum fiber loss *PrimeScreen F fine screens and fractionators with newly developed PrimeFoils for increased efficiency and lower power consumption *PrimeFilter D disc filters – the latest ANDRITZ innovation in thickening and fiber recovery – enabling the system to handle higher feed consistencies and higher-freeness pulp, even in the most demanding applications, and in parallel offering significant improvements in terms of energy consumption and maintenance *Ultra-high dispersing, allowing dispersion at a consistency of up to 40% to achieve substantial savings in steam consumption and superior fiber strength development.

Maintenance Work at Tissue and Pulp Mills Set to Begin

A robust COVID-19 operational plan focused on the health and safety of employees, contractors and the wider community has been vetted and reviewed with provincial officials. The $20 million maintenance shutdown at Irving Tissue and Irving Pulp & Paper will proceed beginning Sunday May 30. The mills are scheduled for maintenance every 12 to 18 months to inspect, certify, upgrade and maintain machinery. Recent shutdown plans have been deferred twice, due to the pandemic. The last maintenance shutdown was performed in September 2019. “The work underway represents an annual investment in the future of the mill and community. Ongoing maintenance work and investments in environmental improvements and equipment modernization are what have allowed it to be one of the longest running mills in the country,” says Mark Mosher, VP of Irving Pulp & Paper, Limited. “Today, the Saint John pulp mill is at the heart of the forest products value chain in the province and sustains many jobs across New Brunswick communities.” More than 800 local contractors will be on-site over a 12-day period to complete key maintenance work.

Mondi completes acquisition of Olmuksan

Further to the announcement made on 5 January 2021, Mondi confirms that all conditions have been satisfied and it has completed the acquisition of 90.38% of the outstanding shares in Olmuksan International Paper Ambalaj Sanayi ve Ticaret A.Ş from International Paper for a total consideration of €66 million. The implied enterprise value on a 100% basis would amount to around €88 million. Olmuksan is a leading and well-established corrugated packaging player in Turkey, listed on the Istanbul stock exchange. Its network of five plants provides a diverse customer base with high-quality sustainable packaging for food, beverage, agriculture and industrial applications. "We are delighted to have completed this acquisition, which significantly strengthens our position in the fast-growing Turkish corrugated market and expands our offering to existing and new customers in the region. We look forward to welcoming the Olmuksan team to Mondi." Andrew King, Group Chief Executive Officer of Mondi.

Previous
Page 1
Page 2