Ian Melin-Jones
Verso to Report Third Quarter Results and Host Conference Call on November 3
Verso Paper Corp has announced that it will report its financial results for the third quarter ended September 30, 2010 in a news release before the market opens on Wednesday, November 3, 2010. Management will host a conference call at 9:00 a.m. Eastern Time, Wednesday, November 3, to discuss the third quarter results.
This release and the third quarter results will be made available on Verso's website at www.versopaper.com/investorrelations by navigating to the Financial Information page.
Analysts and investors may participate in the live conference call by dialing 719-325-2289 or, within the U.S. and Canada only, 888-515-2235, access code 8631247. To register, please dial in 10 minutes before the conference call begins. The conference call and presentation materials can be accessed on Verso's website at www.versopaper.com/investorrelations by navigating to the Events page, or at http://investor.versopaper.com/eventdetail.cfm?EventID=87153.
A telephonic replay of the call can be accessed at 719-457-0820 or, within the U.S. and Canada only, 888-203-1112, access code 8631247. This replay will be available starting at 12:00 p.m. (ET) on November 3, 2010, and will remain available for 14 days.
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.
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. Robert P. Mundy, 901-369-4128 Senior Vice President and Chief Financial Officer This email address is being protected from spambots. You need JavaScript enabled to view it. www.versopaper.com
UPM tests the Finnish FSC-Standard in company forests
UPM has started testing the new Finnish FSC standard in company forests. With this testing the company wants to fully assess the costs and functionality of the indicators of the new Finnish FSC standard approved by the Finnish FSC association on 8 October, 2010. The testing covers the financial, ecological and social impacts of the indicators. FSC forest certification will be in the future also one of the forest service products offered by UPM to private forest owners.
Even if FSC is commonly in use in many countries, where forestry has an important role, in Finland there has been no such national standard which would have been widely used by forest owners. Forest industry, non-governmental organisations and other stakeholders in Finland have been long in dialogue to find common understanding regarding the national FSC standard. These discussions have been focussed on consolidating financially viable forestry, the environmental aspects and the rights of Sámi people. UPM has participated in these discussions actively as one of the forest industry representatives. All key environmental organisations have participated in this process.
The new national FSC standard to be applied in Finland will become effective only after it has been approved by the Board of Directors of international FSC, probably from the beginning of year 2011.
The results of UPM's own testing are expected to be ready by the end of this year. Based on the results UPM will decide whether it will apply for FSC certification in its own forests in Finland.
UPM has for years offered different nature services to forest owners, who want to emphasise the different values of their forest i.e. promote game stock landscape or nature values. FSC forest certification will be in the future also one of the forest service products offered by UPM to private forest owners.
UPM regards forest certification as an excellent tool to promote sustainable forestry in these circumstances that only 10% of world's forests are certified. UPM seeks to promote all credible forest certification schemes including international PEFC and FSC. All UPM forests are certified. In Finland this comes under PEFC certification and in the UK PEFC and FSC certification (UK Woodland Assurance Standard). In Uruguay UPM plantations are FSC certified. In the UK UPM has experience as the leader of the biggest FSC and PEFC certification group.
For more information please contact:
Mr Timo Lehesvirta, Environmental Director, Energy and Pulp Business Group, telephone +358 400 752 212
Clearwater Paper Corporation Announces Proposed Offering of Senior Notes
Clearwater Paper Corporation has announced a proposed offering of $350 million aggregate principal amount of senior notes due 2018.
The net proceeds of the offering will be used to finance in part the Company's acquisition of Cellu Tissue Holdings, Inc., to refinance certain existing indebtedness of Cellu Tissue, and to pay fees and expenses incurred as part of the notes offering, the acquisition and related transactions.
As the offering is a private placement, the notes will be offered and sold only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933 (the "Securities Act") and to certain non-U.S. persons in transactions outside the United States in reliance on Regulation S under the Securities Act. The notes to be offered have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the notes nor shall there be any sale of the notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.
This press release contains information about pending transactions, and there can be no assurance that these transactions will be completed.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements within the meaning of the Private Litigation Reform Act of 1995 as amended, including, but not limited to, statements regarding the acquisition of Cellu Tissue, the proposed offering of the notes and the anticipated use of proceeds therefrom. These forward-looking statements are based on the Company's current expectations, estimates and assumptions that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk that the closing of the acquisition of Cellu Tissue Holdings, Inc. may be delayed or not occur, the impact of conditions in the credit markets generally and, in particular, for companies in the markets in which the Company operates, and changes and uncertainty in the United States and international economies in which the Company and Cellu Tissue operate. For a discussion of additional factors that may cause results to differ, see the Company's public filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date thereof. The Company does not undertake to update any forward-looking statements.
ADDITIONAL INFORMATION AND WHERE TO FIND IT
Cellu Tissue intends to file with the SEC a preliminary proxy statement and a definitive proxy statement and other relevant material in connection the merger. The definitive proxy statement will be sent or given to the stockholders of Cellu Tissue. Before making any voting or investment decision with respect to the merger, investors and stockholders of Cellu Tissue are urged to read the proxy statement and the other relevant material when they become available because they will contain important information about the merger. The proxy statement and other relevant materials (when they become available), and any other documents filed by Cellu Tissue with the SEC, may be obtained free of charge at the SEC's website at www.sec.gov, at Cellu Tissue's Investor Relations website at cellutissue.com/investor (click "SEC filings") or from Cellu Tissue by contacting Investor Relations by mail at 1855 Lockeway Drive, Suite 501, Alpharetta, Georgia 30004, Attention: Investor Relations, or by telephone at (678) 393-2651.
PARTICIPANTS IN SOLICITATION
Clearwater Paper and Cellu Tissue and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from Cellu Tissue stockholders in connection with the merger. Information about Clearwater Paper's directors and executive officers is set forth in Clearwater Paper's proxy statement on Schedule 14A filed with the SEC on March 29, 2010 and its Annual Report on Form 10-K for the year ended December 31, 2009 filed with the SEC on February 26, 2010. Information about Cellu Tissue's directors and executive officers is set forth in its proxy statement on Schedule 14A filed with the SEC on June 25, 2010. Additional information regarding the interests of participants in the solicitation of proxies in connection the merger will be included in the proxy statement that Cellu Tissue intends to file with the SEC.
For additional information on Clearwater Paper, please visit our website at www.clearwaterpaper.com.
Green Gold TV Programme awarded the forest act of the year
The Association of Finnish Foresters and Nordea Bank have awarded the Finnish TV programme "Green Gold" as the Forest Act of the Year. TV channel MTV3, TV production company Intervisio and UPM, who are all involved in the making of the program, received the award today.
"The TV programme "Vihreä Kulta" has familiarized the viewers with subjects related to forests such as forest use and forestry in a versatile and practical manner. This can be seen in the subjects covered as well as in the experts who have appeared in the programme. The programme has in a short time managed to reach both forest owners and others interested in forest-related issues with its factual but entertaining approach," says Tuula Jusko, chairman for the Association of Finnish Foresters.
The purpose of the Forest Act of the Year, initiated by the Association of Finnish Foresters, is to annually award an open-minded and outstanding act which promotes forestry and knowledge on Finnish forests. The award was given for the first time in 1995.
"We highly appreciate this award as it is assessed by professionals", comments Aili Piironen, Director, Communications, Forest and Timber Business Area, UPM.
The fourth season episodes of “Green Gold” now airing take the viewers to forests and outside of forests when presenting the different products originating from forests. The programme also features celebrities, nature-related topics as well as different forest-related professions. The programme has its own Facebook pages and a web page dedicated to the programme, where viewers are encouraged with help of experts’ blogs to discuss topics presented in the programme.
Stora Enso and Neste Oil launch environmental impact assessment for a new renewable diesel plant
Stora Enso's and Neste Oil's joint venture, NSE Biofuels Oy, is to commence environmental impact assessments for a commercial-scale biorefinery at Porvoo and at Imatra in Finland. The two locations are seen as potential alternative sites for a unit capable of producing approximately 200 000 tonnes of premium-quality renewable diesel per year from wood biomass.
“The results from the demonstration plant have been promising, but no decision on the possible commercial plant has been taken. The first full-scale commercial plant will represent an investment of at least EUR 500 million. Given the fact that we plan to use the latest technology, with all the challenges that brings, it is clear that major public support would be necessary to ensure the profitability of the project,” say Matti Lievonen, CEO of Neste Oil, and Jouko Karvinen, CEO of Stora Enso.
The entire production chain - from raw material, in the shape of wood biomass, all the way to biowax suitable for refining into renewable diesel - has been tested at the company's demonstration plant at Varkaus, which was commissioned in 2009. Trial runs will continue at the Varkaus facility until next year at least. Decisions on the future of the demonstration plant and the possible go-ahead for a commercial plant will be taken in the early part of next year when the relevant business plans and cost calculations have been completed.
The public environmental impact assessment (EIA) will get under way in Porvoo and Imatra in early November and will last around a year. The Southeast Finland Centre for Economic Development, Transport and the Environment will act as the official body for the assessment. The choice of Porvoo and Imatra as possible locations for a commercial-scale plant is based on the local availability of the raw materials needed and the good logistic connections on offer. The existing plants of Neste Oil and Stora Enso at Porvoo and Imatra would among other things enable efficient year-round utilisation of heat energy generated in the biorefinery.
Details of the EIA process
The environmental impact assessment will focus on the potential impact of a biorefinery on the immediate environment and will not involve any decision-making related to the project. Residents, associations, organisations and others interested in the project based close to the Kilpilahti industrial area in Porvoo and Stora Enso's Imatra Mills will be able to take part in the assessment work.
In early November the official body for the assessment will post details of the EIA programme on the Internet and in printed format in Porvoo and Imatra for a period of two months, during which time local people and organisations will be able to register their views on whether the scope of the planned assessment meets their expectations with the Southeast Finland Centre for Economic Development, Transport and the Environment.
More detailed information about the display of the EIA programme, public events and feedback channels will be given in a public notice by the official body for the
assessment in early November. The public notice will be published in, among others, the most popular newspapers available in Imatra and Porvoo.
The results of the assessment will be collated and subsequently published in an official EIA report. At that point, the report will be displayed and feedback can be given. The intention is to complete the EIA process by the end of September 2011, after which NSE Biofuels could obtain an environmental permit for a biorefinery.
For further information, please contact:
Stora Enso:
Lauri Peltola, Head of Communications and Global Responsibility, tel. +358 2046 21380
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242
Neste Oil:
Lars Peter Lindfors, SVP, Technology and Strategy, tel. +358 10 458 3605
Hanna Maula, Communications Director, tel. +358 50 458 4618
NewPage to Release Third Quarter 2010 Financial Results
NewPage Corporation announced today that it will release its third quarter 2010 financial results on Thursday, November 4, 2010, before the market opens. The news release will be available on the NewPage Web site at www.NewPageCorp.com.
The company will broadcast its third quarter 2010 analyst conference call on Thursday, November 4, 2010, at 11:00 a.m. (ET) with access available through the Internet and telephone. The teleconference is expected to last one hour.
The live conference call and presentation slides may be accessed on the NewPage Web site at www.NewPageCorp.com. Click on the link to the Conference Call and Webcast and follow the instructions to access the Webcast in listen and view mode. Please go to the Web site at least one hour prior to the call to register, download and install any necessary audio software.
The call will be available live and stored on the Web site for five weeks.
Analysts and investors may access the call by dialing (866) 244-4629 (toll-free domestic) or (703) 639-1176 (international), conference ID 1413361. A replay of the call can be accessed via telephone (888) 266-2081 (toll-free domestic) or (703) 925-2533 (international), access code 1413361. The replay will be available starting at 2 p.m. (ET) on November 4, 2010, and will remain available until midnight (ET) on December 9, 2010.
About NewPage Corporation
Headquartered in Miamisburg, Ohio, NewPage Corporation is the largest coated paper manufacturer in North America, based on production capacity, with $3.1 billion in net sales for the year ended December 31, 2009. The company's product portfolio is the broadest in North America and includes coated freesheet, coated groundwood, supercalendered, newsprint and specialty papers. These papers are used for corporate collateral, commercial printing, magazines, catalogs, books, coupons, inserts, newspapers, packaging applications and direct mail advertising.
NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan, Minnesota, Wisconsin and Nova Scotia, Canada. These mills have a total annual production capacity of approximately 4.4 million tons of paper, including approximately 3.2 million tons of coated paper, approximately 1.0 million tons of uncoated paper and approximately 200,000 tons of specialty paper.
For additional information, please visit the company's Web site at www.NewPageCorp.com.
SOURCE NewPage Corporation
M-real has concluded the statutory negotiations at the Äänekoski paper mill
M-real Corporation, part of Metsäliitto Group, has concluded the statutory negotiations at the Äänekoski paper mill. As a result of the negotiations, the personnel reduction is to be maximum 44 people. Effects on the personnel will be realized during the year 2011 at the latest.
M-real started the statutory negotiations on 9 August 2010 and they were based on efficiency improvement measures at the Äänekoski paper mill to improve its profitability. The statutory negotiations concerned the Äänekoski paper mill personnel in total of about 250 people.
In close co-operation with local authorities and the city of Äänekoski, M-real will help redundant employees to find new employment. In addition, M-real will also facilitate redeployment, if possible, by offering jobs internally in the company or other Metsäliitto Group's businesses.
M-real announced on 29 March 2010 its plan to invest approximately EUR 6 million in sheeting operations at the Äänekoski paper mill. The investment will increase sheeting capacity, streamline the conversion process and improve package quality and the mill's profitability. The investment will be concluded in summer 2011.
M-REAL CORPORATION
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
Terrace Bay resumes pulp production
Terrace Bay Pulp has emerged from creditor protection and is back in business. The northwestern Ontario pulp mill resumed production in late September, aided by financial support from the provincial government and $30 million in financing from a Toronto-based lender.
More than 300 people have returned to work at Terrace Bay Pulp Inc., which had been shut down since 2009. The kraft pulp mill is owned by Buchanan Group.
Forestweb reports the mill has restarted only one line, which has a capacity of 350,000 tonnes/year, producing northern bleached softwood kraft (NBSK) pulp.
The province is providing a conditional $25-million term loan to TBPI to help refinance the restart of the mill.
Located in a town of about 2000 people, Terrace Bay Pulp has a significant economic impact in the region, providing direct jobs in the mill as well as supporting employment in woodlands operations and the transportation industries which supply the mill.
Domtar announces NEW Cougar® Swatchbook Released
Domtar is proud to announce the release of a new Cougar swatchbook. With a design that is thoroughly contemporary to reflect current design esthetics and a look that is entirely fresh; the new swatchbook remains an indispensable Domtar reference tool. Cougar is a smart, economical alternative to the higher-priced text, cover and writing products with a competitive edge for its quality, performance, breadth of line, environmental position and service.
The new Cougar swatchbook includes a one-glance look at samples of Super Smooth, Smooth, Vellum Natural, Digital and Envelope with easy identification of text and cover basis weights and stocking information. Print demonstrations and illustrations throughout the book utilize full ink coverage, proving that with Cougar, every image you print stays crisp and sharp with rich, vivid color.
Domtar is also offering a new line extension to the Cougar family – Cougar 30% Recycled. Cougar already contains 10% recycled content, but sometimes projects require higher recycled content. Available in select sizes in both 80 lb. text and 80 lb. cover, this new offering contains 30% recycled fiber while maintaining the characteristics that make Cougar a go-to sheet for printers, designers and print buyers.
Temple-Inland Inc. to Release Third Quarter Results on October 20, 2010
Temple-Inland Inc. (NYSE:TIN) will release its results for third quarter 2010 on October 20, 2010, before the market opens.
The company will host a conference call on October 20, 2010 at 9:30 a.m. Eastern Time to discuss results for third quarter 2010.
To access the conference call, listeners calling from the United States and Canada should dial 1-866-394-6665 at least 15 minutes prior to the start of the call. The passcode for the conference call is: 16661238. Those wishing to access the call from outside the United States and Canada should dial 1-706-634-1667 and use the same passcode as set forth above. Replays of the call will be available for two weeks following completion of the live call and can be accessed at 1-800-642-1687 in the United States and Canada and at 1-706-645-9291 outside the United States and Canada. The passcode for the replay is: 16661238.
The conference call may also be accessed through Temple-Inland's Internet site, www.templeinland.com, by clicking on "Investor Relations - Investor Events."
Temple-Inland Inc. is a manufacturing company focused on corrugated packaging and building products. The fully integrated corrugated packaging operation consists of 7 mills and 60 converting facilities. The building products operation manufactures a diverse line of building products for new home construction, commercial and repair and remodeling markets. Temple-Inland's address on the World Wide Web is www.templeinland.com.
SOURCE: Temple-Inland Inc.
Temple-Inland Inc.
Chris Mathis, 001-512-434-3766