Ian Melin-Jones
Domtar Unveils Paper Because Campaign to Promote the Responsible Use of Paper
Domtar Corporation is launching its “Paper Because” campaign through advertisements that will appear in major U.S. and Canadian media outlets, including: The Wall Street Journal, The New York Times, The Globe and Mail, Fast Company, Audubon, National Geographic and other consumer and trade publications. The campaign will also feature online banner ads and a series of short videos that will appear in a variety of online media.
“There are times when no substitute for paper will suffice – it is how great ideas begin, how the world learns, how important news gets shared and how people meaningfully connect with each other,” said John D. Williams, President and Chief Executive Officer. “What has evolved over time is the continued improvement of our environmentally sound forestry practices, and high levels of recycling, that have made Domtar a leader in the effort to make paper sustainable and renewable.”
Domtar has earned the support of recognized environmental organizations because of its investments to increase forest certification and reduce the environmental impact of its operations. More than three quarters of the energy used at Domtar mills, for example, comes from renewable sources. Domtar has also cut greenhouse gas emissions from continuing operations by 32 percent since 1990, far exceeding the requirements of the Kyoto Protocol.
“The Rainforest Alliance has been working with Domtar for more than a decade, and Domtar has raised the bar for the paper industry when it comes to increasing the supply of fiber from responsibly managed forests, certified to the standards of the Forest Stewardship CouncilTM,” said Rainforest Alliance President Tensie Whelan. “Domtar’s commitment to FSC® certification has made it possible for the Rainforest Alliance to work with forest managers to improve environmental and social conditions on ecologically important forestland and for consumers to easily find FSC® certified paper products.”
Domtar’s “Paper Because” campaign will demonstrate that paper is sustainable, personal and purposeful:
It’s easier to learn on paper, because reading on paper is up to 30 percent faster than reading online. Nearly 60 percent of senior executives prefer print versus online information. Three out of four people have made a purchase as a result of direct mail. Paper is one of the most recycled products on the planet; more than 63 percent of the paper that’s used gets recycled. Domtar collaborates with the Rainforest Alliance and other environmental organizations to encourage environmentally sound, sustainable forestry practices, high levels of recycling and the use of renewable energy at its manufacturing facilities.
“Domtar has been at the forefront of the responsible use of paper because the future of our business is linked to a healthy environment and the availability of both virgin and recycled fiber,” said Mr. Williams. “We’re not just a paper company. We’re a sustainable paper company.”
For more information, please visit www.paperbecause.com.
Metso Foundries Jyväskylä concludes personnel negotiations
Metso Foundries Jyväskylä has on Thursday, September 16, concluded the personnel negotiations started on July 1, 2010, concerning temporary layoffs and personnel reductions.
The measures taken on the basis of the negotiations, targeting at increased competitiveness, will affect 70 persons in total, a significantly lower figure than originally estimated. Of these, 46 will be redundancies. The rest of the reductions will comprise pension arrangements, part-time employments and internal transfers. The permanent reduction will amount to 62 personworkyears. In addition, temporary layoffs will continue in all personnel groups in accordance with the work load situation. The effects on the personnel are estimated to be realized by March 2011.
Metso Foundries Jyväskylä produces hand-moulded castings for Metso and outside customers.
Metso is a global supplier of sustainable technology and services for mining, construction, power generation, automation, recycling and the pulp and paper industries. We have about 27,000 employees in more than 50 countries. www.metso.com
For further information, please contact:
Pasi Mäkinen, President, Metso Foundries Jyväskylä, Inc., tel. +358 20 482 6736
Jaakko Puurula, Vice President, Human Resources, Paper and Fiber Technology, Metso, tel. +358 20 482 5500
AbitibiBowater CCAA Plan of Reorganization Sanctioned by Quebec Superior Court
AbitibiBowater is pleased to announce that the Quebec Superior Court today rendered an order sanctioning the Company's plan of reorganization under the Canadian Companies' Creditors Arrangement Act (CCAA). As previously announced, on September 14 and 21, 2010, respectively, the Company received approvals for its plans of reorganization from affected creditors under the CCAA in Canada and chapter 11 of the U.S. Bankruptcy Code in the United States, except with respect to Bowater Canada Finance Corporation (BCFC), a special purpose company subsidiary with no operating assets, which has been excluded from the Company's plans of reorganization.
"We are pleased to have received an order from the Quebec Superior Court sanctioning our CCAA plan," stated David J. Paterson, President and Chief Executive Officer. "The rendering of this court order represents a major milestone in the successful restructuring of our Company."
The confirmation hearing under the Chapter 11 process is scheduled to start on September 24, 2010, in the U.S. Bankruptcy Court in Delaware. Subject to the satisfaction of certain conditions provided for in the plans of reorganization, AbitibiBowater continues to expect emergence from creditor protection this fall.
The sanction order rendered by the Quebec Superior Court on the CCAA reorganization plan will be available through www.abitibibowater.com/restructuring.
AbitibiBowater produces a wide range of newsprint, commercial printing and packaging papers, market pulp and wood products. It is the eighth largest publicly traded pulp and paper manufacturer in the world. AbitibiBowater owns or operates 19 pulp and paper facilities and 24 wood products facilities located in the United States, Canada and South Korea. Marketing its products in more than 70 countries, the Company is also among the world's largest recyclers of old newspapers and magazines, and has third-party certified 100% of its managed woodlands to sustainable forest management standards. AbitibiBowater's shares trade over-the-counter on the Pink Sheets and on the OTC Bulletin Board under the stock symbol ABWTQ.
Change in Ahlstrom's Executive Management Team
Ahlstrom, a global leader in nonwovens and specialty papers, announces a change in its Executive Management Team. Deputy of President and CEO Risto Anttonen, who is responsible for business development, will retire by December 31, 2010. His responsibilities will be transferred to other members of the Executive Management Team after Anttonen's retirement.
Risto Anttonen joined Ahlstrom in 1991 and has held several senior executive positions in the company.
"I would like to thank Risto for his excellent contribution to Ahlstrom and wish him the best of success in the future," says Jan Lång.
Further information:
Jan Lång
President & CEO
tel. +358 10 888 4700
Ahlstrom in brief
Ahlstrom is a global leader in the development, manufacture and marketing of high performance nonwovens and specialty papers. Ahlstrom´s products are used in a large variety of everyday applications, such as filters, wipes, flooring, labels, and tapes. Based upon its unique fiber expertise and innovative approach, the company has a strong market position in several business areas in which it operates. Ahlstrom's 5,800 employees serve customers via sales offices and production facilities in more than 20 countries on six continents. In 2009, Ahlstrom's net sales amounted to EUR 1.6 billion. Ahlstrom's share is quoted on the NASDAQ OMX Helsinki. The company website is at www.ahlstrom.com.
Verso Paper Corp. Receives SFI President's Award
Verso Paper Corp. was presented the Sustainable Forestry Initiative(R) (SFI) President's Award for its partnership efforts to promote sustainable forest management principles and initiatives in Maine.
"Verso is proud to be recognized by SFI for our efforts to increase the number of third-party certified forestlands in Maine," said Craig Liska, Vice President of Sustainability for Verso. "This project has been a rewarding partnership experience for Verso. We have focused on providing support to private landowners by creating a more cost effective certification process and offering resources to support responsible forest management practices."
"At SFI Inc., we value partnerships like this one, which yield benefits for forests, for communities and for the marketplace," said SFI President and Chief Executive Officer Kathy Abusow. "Through its involvement in this pilot, Verso Paper Corp. is showing its commitment to responsible forestry by helping to make third-party forest certification more accessible for small- and medium-sized landowners in Maine."
Verso has a history of sponsoring and leading similar initiatives involving a variety of stakeholders to encourage forest certification. In 2008, Verso provided a two-year grant to the Trust to Conserve Northeast Forestlands (TCNF) to make third-party certification more accessible and affordable for small landowners in a six-state region in the Northeast. Verso continues to be a supporter of the certification programs in Maine and the Midwest, where the company operates four pulp and paper mills.
About Verso
Based in Memphis, Tennessee, Verso Paper Corp. is a leading North American producer of coated papers, including coated groundwood and coated freesheet, and supercalendered and specialty products. Verso's paper products are used primarily in media and marketing applications, including magazines, catalogs and commercial printing applications such as high-end advertising brochures, annual reports and direct-mail advertising. Additional information about Verso is available on the company's website at www.versopaper.com.
About SFI Inc.
SFI Inc. is a 501c(3) non-profit charitable organization, and is solely responsible for maintaining, overseeing and improving the Sustainable Forestry Initiative program (www.sfiprogram.org), that is internationally recognized and among the largest in the world. It is one of the fastest growing forest certification programs with 150 million acres (60 million hectares) of SFI-certified forests across North America. The SFI Standard also includes unique fiber sourcing requirements that promote responsible forest management on all suppliers' lands and a chain-of-custody certification, which can communicate to buyers how much certified fiber is in a specific product. The SFI forest standard is endorsed by the Programme for the Endorsement of Forest Certification, a global umbrella organization that has strict requirements for endorsement. SFI Inc. is governed by a three-chamber board of directors representing environmental, social and economic sectors equally.
Forward-Looking Statements
In this press release all statements that are not purely historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by the words "believe," "expect," "anticipate," "project," "plan," "estimate," "intend," and similar expressions. Forward-looking statements are based on currently available business, economic, financial and other information and reflect management's current beliefs, expectations and views with respect to future developments and their potential effects on Verso. Actual results could vary materially depending on risks and uncertainties that may affect Verso and its business. For a discussion of such risks and uncertainties, please refer to Verso's filings with the Securities and Exchange Commission. Verso assumes no obligation to update any forward-looking statement made in this press release to reflect subsequent events or circumstances or actual outcomes.
SOURCE: Verso Paper Corp.
Verso Paper Corp. Monica Garvey, 001-901-369-4154 Sustainability Manager This email address is being protected from spambots. You need JavaScript enabled to view it. www.versopaper.com
M-real is planning to invest approximately EUR 26 million at Simpele mill
M-real Corporation, part of Metsäliitto Group, is planning to increase the annual folding boxboard capacity of Simpele mill by about 80 000 tonnes. At the same time the sheeting capacity is planned to be expanded. The total value of the potential investments in Simpele, which are planned to be done during summer 2011, is approximately EUR 26 million. Following the investment the total folding boxboard capacity of Simpele would be approximately 300 000 tonnes per annum. The production would mainly be sold to food packaging purposes.
“Demand outlook for folding boxboard is very good and through the innovative product and service development M-real's market shares have steadily increased. As the market leader M-real is planning to take this step to moderately increase the capacity to be able to serve customers even better. After the potential investment Simpele machine is the biggest and most competitive folding boxboard machine in Europe,” says CEO Mikko Helander.
To improve profitability M-real is considering to transfer the Simpele speciality paper production to Gohrsmühle mill in Germany and consequently to close the Simpele paper machine. The statutory cooperation negotiations related to the possible closure and the investment in board production will be commenced on 24 September 2010. The planned personnel reduction is maximum 80 people. The potential transfer of the production would improve M-real's operating result by approximately EUR 4 million per annum. As a result of the planned Simpele paper machine closure Consumer Packaging's 4Q 2010 result will as non-recurring item include EUR 12 million write offs. Related non-recurring cash costs, if any, will be determined once the negotiations with employees are completed latest by 5 November 2010. The planned closure would reduce European annual speciality paper overcapacity by about 50 000 tonnes.
“M-real is a leading European speciality paper producer. M-real is further focusing its speciality paper business to packaging related grades. The planned transfer of Simpele speciality paper production would strengthen the competitiveness of Gohrsmühle mill and improve M-real's profitability. M-real is planning to increase the share of speciality grades in Gohrsmühle further,” concludes CEO Helander.
For further information, please contact:
Matti Mörsky, CFO, tel. +358 10 465 4913
Juha Laine, Vice President, Investor Relations and Communications, tel. +358 10
465 4335
Stora Enso selected for the FTSE4Good responsible investment index for the 10th year in a row
Stora Enso has been included for the 10th consecutive year in the FTSE4Good Index Series, one of the most widely recognized indexes for socially responsible investments. Companies chosen for the FTSE4Good Index Series must meet stringent social, ethical and environmental criteria. The FTSE4Good index facilitates responsible investments by continuously measuring the performance of leading companies.
The criteria used for the index cover environmental management, climate change, human rights, supply chain labour standards, and efforts to counter bribery. The criteria are regularly revised to ensure that they reflect the highest standards of responsible business practice.
“For us, being listed in the FTSE4Good index for the 10th year running is a sign of real improvement. The index is uncompromising - if you stop improving, you risk dropping out,” says Stora Enso CEO Jouko Karvinen. “This fits well with the way we see corporate responsibility at Stora Enso. It is not something you accomplish once and then stop working on - it forms the core of everything we do, and we have to find ways to improve every day.”
The FTSE4Good index is revised twice a year, when companies receive information about whether they have been selected for the list. The index has been designed by FTSE with the support of UNICEF, and uses data provided by the Ethical Investment Research Service (EIRIS).
About the FTSE Group
FTSE is an independent company jointly owned by The Financial Times and the London Stock Exchange. FTSE does not give financial advice to clients, which allows for the provision of truly objective market information. FTSE indexes are used extensively by a range of investors such as consultants, asset owners, fund managers, investment banks, stock exchanges and brokers.
Stora Enso's responsibility work has also been recently recognised by:
The Dow Jones Sustainability Indexes are the first global indexes to track the financial performance of leading sustainability-driven companies. Companies are included in or deleted from the indexes based on their economic, environmental and social performance. The indexes provide investors with reliable and objective benchmarks to manage their sustainability portfolios.
The Ethisphere Institute's World's Most Ethical Companies for 2010 Stora Enso has also been named as one of the World's Most Ethical Companies for 2010 by the Ethisphere Institute. This research institute is a leading international think tank dedicated to the creation, advancement and sharing of best practices in business ethics, corporate social responsibility, anti-corruption work and sustainability.
For further information, please contact:
Heidi Puusa, Director, Group Identity and Sustainability Communications, tel.
+358 2046 21309
www.storaenso.com
New SCA facility to meet Russian demand for hygiene products
SCA – the world's third-largest hygiene company – inaugurated a personal care plant in Russia. The facility is located in Veniov, in the Tula Region south of Moscow. The investment is valued at approximately EUR 85m and is the first of its kind in local production of personal care products in Russia and the CIS region.
The Veniov personal care plant will manufacture Libero baby diapers and TENA incontinence care products to meet the growing market demand for hygiene products in Russia. The new facility complements the Sovetsk tissue plant, which is located in the same region and was inaugurated in February 2010. Tissue products – sold under the brands Tork and Zewa – are also produced in Svetogorsk, close to St Petersburg.
Jan Johansson, SCA President and CEO, says:
“We expect profitable growth for all of SCA’s hygiene-product categories in Russia and the CIS region. The new Veniov plant brings us closer to our customers, significantly reduces transport volumes and enables us to more rapidly satisfy customer needs. Russia is a market with strong brand preferences, which suits us well.”
In total, SCA employs about 1,100 people in Russia, including approximately 200 in Veniov.
For additional information, please contact
Jörgen Olsson, Press & Media Officer, +46 8 788 51 29
SGS unveils it's 2014 strategic plan
At a meeting held during the weekend in Montreux (Switzerland), SGS launched with 150 of its key business leaders the next stage in the Groups' long history, unveiling a new four year strategic plan to 2014.
The Plan has been designed in close cooperation and with the full support of the Board of Directors, defining the strategic lines SGS will pursue in order to strengthen its dominant position in the TIC industry, delivering strong organic growth and relying on acquisitions to expand certain areas of its service offering and geographical coverage.
With this Plan, SGS aims to achieve Revenues of CHF 8 billion, Operating income* of CHF 1.6 billion (20% operating margin) and Earnings per Share of approximately CHF 140.-, by 2014, while maintaining strong annual Operating cash flows of 15% to 17% of Revenues.
The Management will present the Plan to the financial community on 24 September in Rouen, where SGS was founded.
* (before amortisation of intangibles, transaction costs and non-recurring items)
ABOUT SGS
The SGS Group is the global leader and innovator in inspection, verification, testing and certification services. Founded in 1878, SGS is recognized as the global benchmark in quality and integrity. With 59'000 employees, SGS operates a network of over 1'000 offices and laboratories around the world.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jean-Luc de Buman
Corporate Communications & Investor Relations
SGS SA
1 place des Alpes
CH 1211 Geneva 1
Tel: +41 (22) 739 95 93
Fax: +41 (22) 739 98 61
This email address is being protected from spambots. You need JavaScript enabled to view it.
WWW.SGS.COM
Gardner Denver, Inc. Announces Appointment of Chief Financial Officer
Gardner Denver, Inc. has announced the appointment of Michael M. Larsen as Vice President and Chief Financial Officer, effective October 11, 2010. Mr. Larsen succeeds Helen W. Cornell, who has served in this capacity since 2004 and previously advised the Company of her intention to retire to enable her to increase her involvement in family business matters. Mrs. Cornell will remain with the Company during a transition period, which is expected to be completed in November 2010.
Prior to joining Gardner Denver, Mr. Larsen was Chief Financial Officer, General Electric (GE) Water & Process Technologies, a global organization with revenues of approximately $2 billion and 7,500 employees. His previous experience includes more than 15 years with General Electric Company (NYSE: GE), where he served in a variety of financial leadership roles in GE Plastics, GE Industrial, GE Energy Services and GE Power & Water. He joined GE's European Healthcare organization in Paris, France in 1995 and served on GE's Corporate Audit staff for six years. Additionally, Mr. Larsen worked in the banking industry in Denmark and Luxembourg during the early years of his career.
Mr. Larsen received a Bachelor of Arts degree in International Economics from the American University of Paris and MBA's from Columbia University and London Business School.
"I am very pleased that Michael has decided to join Gardner Denver," said Barry L. Pennypacker, Gardner Denver's President and Chief Executive Officer. "He brings a breadth of financial expertise that has been accumulated during his career at GE and will provide a global perspective in his financial leadership of our organization as we make acquisitions, drive organic growth and continue our journey to operational excellence through 'The Gardner Denver Way.' I want to personally thank Helen for her commitment to making Gardner Denver a better company every day, and wish her all the best in her future endeavors."
"I am excited to be joining Gardner Denver," said Mr. Larsen. "I am looking forward to contributing with the aim of growing the Company into a larger, more profitable organization."
Gardner Denver, Inc., with 2009 revenues of approximately $1.8 billion, is a leading worldwide manufacturer of highly engineered products, including compressors, liquid ring pumps and blowers for various industrial, medical, environmental, transportation and process applications, pumps used in the petroleum and industrial market segments and other fluid transfer equipment, such as loading arms and dry break couplers, serving chemical, petroleum and food industries. Gardner Denver's news releases are available by visiting the Investors section on the Company's website (www.GardnerDenver.com).
Cautionary Statement Regarding Forward-Looking Statements All of the statements in this release, other than historical facts, are forward-looking statements made in reliance upon the safe harbor of the Private Securities Litigation Reform Act of 1995. As a general matter, forward-looking statements are those focused upon anticipated events or trends, expectations, and beliefs relating to matters that are not historical in nature. Such forward-looking statements are subject to uncertainties and factors relating to the Company's operations and business environment, all of which are difficult to predict and many of which are beyond the control of the Company. The actual future performance of the Company could differ materially from such statements. Risks that could cause results to differ materially from those matters expressed in or implied by such forward-looking statements are set forth under "Risk Factors" in the Company's Form 10-K for the fiscal year ended December 31, 2009, and its subsequent quarterly reports on Form 10-Q. The Company does not undertake, and hereby disclaims, any duty to update these forward-looking statements, although its situation and circumstances may change in the future.
Contact:
Helen W. Cornell
Executive Vice President, Finance and CFO
001 (217) 228-8209
SOURCE: Gardner Denver, Inc.