The United Steel Workers voted Wednesday to ratify a five-year labor pact with Stora Enso. The vote capped off 22 months of negotiations between the two sides. The deal includes a nine percent wage increase over the life of the contract and a $3,000 ratification bonus per member. The agreement covers USW locals representing roughly 1,400 members who work at Stora Enso’s Wisconsin plants in Biron, Stevens Point, Whiting and Wisconsin Rapids.
Cascades has reached an agreement in principle to purchase Domtar’s 50 percent interest in Norampac Inc. for $560 million in cash. Cascades has obtained commitments for the financing necessary to complete the transaction. The financing will replace the existing credit facility and provide for a new $1.05 billion credit facility. The deal is expected to close by the end of the year.
HAMILTON, OH—January 3, 2007—SMART Papers today announced it has a new owner, Plainfield Asset Management of Greenwich, Conn., and is expanding production on all three papermaking machines at its Hamilton, Ohio, manufacturing center. With fresh capitalization and ownership, the company said it is now producing its full line of premium cast-coated, matte-coated and uncoated text, cover and writing papers. SMART Papers employs 520 in various manufacturing, sales, customer service and management positions, primarily in Hamilton, north of Cincinnati. “SMART Papers has a rich history and well-established brands that bring unique value and benefit to the North American printing industry and their customers,” said Eric Reehl, Managing
PAPER IS the sole opportunity for an audience to hold your organization’s identity in its hands. Paper reaches the target audiences’ sense of touch, and the paper used to communicate your organization’s message influences recipients’ perceptions of the organization. As they touch your letter, sales collateral or direct mailer, the consumer may make judgments about your quality, durability and whether or not you are high-tech. As little as five years ago, digital presses and color copiers could not run all the papers that offset presses could. The Indigo E-Print required special pre-treatment of all papers (otherwise the ink just rubbed off). Xeikon-based
HAMILTON, OH—December 20, 2006—SMART Papers LLC today reported that the U.S. Bankruptcy Court for the District of Delaware has approved and confirmed its business reorganization plan, paving the way for emergence from Chapter 11 upon the company’s sale to an affiliate of Plainfield Asset Management LLC, a Greenwich, Conn.-based investment advisor. The SMART Papers Plan of Reorganization was approved by the court yesterday in Wilmington, Del. The plan was accepted by an overwhelming majority of voting creditors. It is also supported by SMART Papers’ secured lender, its unsecured creditors committee, Memphis-based International Paper Co. and many other important creditor groups. “We’re very pleased with
Dan Reeves has joined Wausau Paper as western regional sales manager and David Shelton has joined the company as eastern regional sales manager. They will each be responsible for managing sales efforts within their designated regions. Daniel Hoffman has joined Wausau Paper as business development manager, responsible for creating demand for Wausau products in targeted market segments.
More coverage of Graph Expo product introductions . IT MAY be telling that the majority of presses in operation around the show floor of Graph Expo and Converting Expo 2006 last month were of the digital variety. Offset units were conspicuous in their absence. Digital presses have become part of the commercial printing mainstream, rather than being a specialty product segment or market niche. To emphasize this, Hewlett-Packard shared results from an InfoTrends study that surveyed a sampling of digital color printing buyers and producers. The research firm found that the percentage of color printing jobs with a run length
Stora Enso’s Productolith industry-standard coated printing paper is now Forest Stewardship Council (FSC) certified. This pertains to all Productolith gloss, dull and matte sheet shipments. This label provides the company’s end users with the confidence that purchasing Productolith sheet products directly supports responsible forest management.
Domtar, one of the largest producers of uncoated freesheet paper in North America, has signed a definitive agreement to combine with Weyerhaeuser’s fine paper business. The move will more than double Domtar’s current paper production capacity, according to Raymond Royer, Domtar’s President and Chief Executive Officer. Domtar estimates the new company would generate approximately US$6.5 billion in sales. The new company, to be called Domtar, will be headquartered in Montreal, Quebec, and will include six uncoated freesheet mills, which will provide two-thirds of Domtar’s more than five million tons of capacity.
International Paper has agreed to sell its Brazilian coated papers business to Stora Enso Oyj for about $415 million. The business includes a coated paper mill and lumber mill in Arapoti, Parana State, Brazil, as well as about 124,000 acres of forestland in Parana. The transaction is expected to close in the third quarter of 2006. The move is part of International Paper’s previously announced transformation plan to focus on uncoated papers and industrial and consumer packaging globally. Including this deal, expected proceeds from transformation-related divestitures announced to date are approximately $9.7 billion.
