M-real Corporation, part of Metsäliitto Group, will start statutory negotiations at the Äänekoski paper mill on 9 August 2010. The statutory negotiations notice, released today, covers the Äänekoski paper mill personnel in total of about 250 people. The maximum personnel reduction need is estimated to be 50 people. Effects on the personnel are estimated to be realized during the year 2011 at the latest.

The statutory negotiations are based on efficiency improvement measures at the Äänekoski Paper mill to improve its profitability. 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.

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

The cost for wood biomass fell in two of the major markets in the US in the 1Q 2010 partly because of the federal program BCAP, according to the North American Wood Fiber Review. The federal government is currently considering different programs of how to contribution to an increased use of renewable energy sources.

The full article can be found in the attached PDF file.....

U.S. pulp makers are still trying to figure out exactly what the IRS’ recent “Son of Black Liquor” ruling means, but the largest one said yesterday it sees little if any gain.

“We don’t see a huge benefit for the company,” said Timothy Nicholls, CFO of International Paper, during the company’s quarterly earnings call. “When you layer in the consideration that we would have to return the credits that we filed for last year under the alternative fuel mixture tax credits [the original black liquor tax credits] and then accrue those benefits over some period of time, we don't see the rationale for making any kind of change from what we've previously done at this point.”

Others were a bit more optimistic but still uncertain about exactly how to interpret the ruling that became public earlier this month.

Here’s the explanation presented this week by Temple-Inland’s CFO, Randy Levy, during that company’s earnings call:

“We expect to be registered as a cellulosic biofuel producer during the third quarter. We have received $228 million in cash from alternative fuel mixture tax credits for the period from late March 2009 to year-end 2009.

“We may have the potential to ultimately receive up to an additional $130 million to $140 million of after-tax credits by selecting the cellulosic biofuel producer [Son of Black Liquor] credit, about $80 million to $85 million of which is attributable to the January 1 through late March period when we were not yet mixing and about $50 million to $55 million for the incremental credit between the alternative fuel mixture credit and the cellulosic biofuel credit for the balance of the year.

“However, in order to convert from the alternative fuel mixture tax credit to the cellulosic biofuel credits the cash we previously received would have to be returned plus interest. A key piece of information for us that is currently not available is whether both credits may be claimed in the same year on different volumes. Our objective is to maximize the present value of these credits. There is still a lot of uncertainty surrounding this issue.”

The biggest uncertainty is the process for obtaining the Son of Black Liquor credits, writes Robert Tita of Dow Jones Newswires. “The IRS says companies that received 50-cent credits can't collect a second, higher credit on the same black liquor. Companies, however, could return the money from the 50-cent credit and apply for the $1.01 credit instead.” However, he notes, “the $1.01 credit would be applied as a noncash offset to companies' cash expenses for federal income taxes. The 50-cent credits were distributed as cash subsidies.”

“Given the complexities of acquiring the larger credit, companies could conclude that the reward isn't worth the effort," Tita adds. "Pursuing the higher credit also could expose paper companies to further outrage from members of Congress who remain angry over the paper industry's use of a regulatory loophole to obtain the 50-cent credit.”

Congressional outrage didn’t carry much weight or have much impact on the paper industry last year. Various members of Congress expressed outrage in the spring of 2009 when they learned that U.S. paper companies makers were receiving tax credits for doing what manufacturers of kraft pulp around the world had been doing for decades – burning black liquor to power their mills. But Congress did nothing to close the loophole before the law expired on Dec. 31, enabling pulp and paper companies to rack up more than $8 billion in direct federal subsidies.

In fact, the IRS’ logic-defying June 28 ruling looks like a gift to Congress. The relevant law requires that a qualifying cellulosic biofuel “meets the registration requirements for fuels and fuel additives established by the Environmental Protection Agency”. Normal people, and many pulp manufacturers, interpreted that to mean that a biofuel must be registered by the EPA to receive the credits and that black liquor is therefore excluded because it can’t be used as a motor fuel.

But the IRS ruling exempts black liquor from the EPA requirement specifically because it is not a motor fuel or fuel additive. (That makes me wonder what would happen if someone, perhaps a Canadian pulp manufacturer, tried to register black liquor as a motor fuel. Would the EPA’s rejection close the Son of Black Liquor loophole?)

Congress’ “pay-for” rules (that is, new programs must be paid for with offsetting cost savings or revenue gains) have led to some odd accounting methods – “odd” as in “If you, private citizen, used this kind of accounting, you’d end up in the slammer.” The ObamaCare health law includes $23 billion in “savings” from declaring black liquor ineligible for cellulosic biofuel credits starting on Jan. 1, 2010, even though no money had ever been budgeted for that alleged expense in the first place.

So how long will it take some enterprising Congressman to propose "paying for" a new multibillion-dollar program by changing that date to Jan. 1, 2009?

The Board of Executive Directors of BASF SE announced the following changes in its organization and management team.

In order to prepare for the integration of Cognis, BASF will establish a new division. Effective August 1, 2010, BASF’s Care Chemicals division will be split into two separate divisions:

The Nutrition & Health division, to be established on August 1, will incorporate the Nutrition Ingredients and Aroma Chemicals businesses, as well as Pharma Ingredients & Services. Walter Dissinger (47) currently Senior Vice President, Crop Protection Latin America (Mexico, Middle America, South America), BASF S.A., Sao Paulo, Bazil will become President of the newly established division.

The Personal Care, Hygiene, Home Care and Industrial Formulators businesses will form the Care Chemicals division, headed by Gabriel Tanbourgi (54), President of the current Care Chemicals division.

Both divisions will be part of the Performance Products segment.

Other changes announced:

Beate Ehle (46), currently President of BASF’s Intermediates division located in Ludwigshafen, Germany, will become President for the regional division Market & Business Development North America located in Florham Park, New Jersey. The current President, Joseph C. Breunig will leave the company effective August 31, 2010.

Sanjeev Gulab Gandhi (43), Senior Vice President, Petrochemicals Asia Pacific, at BASF South East Asia located in Singapore will succeed Ms Ehle as President of the Intermediates division.

A telephone conference with a brief presentation of the quarterly results as well as an opportunity to pose questions from the financial market will take place on 5 August at 13.00 CET. The telephone conference will take place in English.

Connection details for the telephone conference:
Confirmation Code: 7241898

800 19640 (Norway Toll Free)
0800 028 1243 (UK Toll Free)
1888 935 4575 (USA Toll Free)
+44 (0)20 7806 1951 (International Toll)

Oxenøen, 29 July, 2010
Norske Skog
Investor relations

Invitation to conference call and webcast presentation of M-real's financial results for January-June 2010 on 5 August 2010

M-real's financial results for January-June 2010 will be published on Thursday, 5 August 2010 at around 12:00 EET. We are pleased to invite you to join M-real's international conference call and webcast presentation at 3:00 p.m. EET.

Conference call participants are requested to call in and register a few minutes prior to the start of the conference call on the following numbers:

Europe: +44 (0)20 7162 0025

US: +1 334 323 6201

The conference ID is 871207.

The financial results will be presented by Mikko Helander, CEO and Matti Mörsky, CFO.

The conference call and the webcast can be followed live on M-real's website.
The presentation material will be available under IR section at www.m-real.com/investors and at M-real's web centre http://qsb.webcast.fi/mreal/ before the start of the conference call. The webcast will also be archived on the website.

Wood fiber prices for the global pulp industry rose 11%, reaching pre-financial crisis levels in the 1Q/2010, reports the Wood Resource Quarterly

The strong pulp market has pushed wood fiber costs upward in most regions around the world the past 12 months. Both the softwood and hardwood wood fiber price indices (SFPI and HFPI) have gone up the past year and were more than 11 percent higher in the 1Q/10 as compared to 1Q/09, reports the Wood Resource Quarterly.

The full article can be found in the attached PDF file.....

In a further improving business environment, BASF has achieved a leap in earnings. The recent portfolio measures are paying off and the earnings strength of the chemicals business has improved sustainably. And BASF is continuing to actively shape its business further and is laying the foundation for future growth.

At a conference call to present BASF’s figures for the first half and second quarter of 2010, Dr. Jürgen Hambrecht, Chairman of the Board of Executive Directors stated: “Our strategy is clear: We are focusing on businesses that are closer to customers and on growth markets. The capital markets acknowledge our achievements: BASF share prices rose 7.8% in the first half of 2010, outperforming the DAX 30, DJ EURO STOXX 50 and all chemical industry indices.”

Following the upturn in business performance in the first three months of 2010, BASF continued to gain momentum in the second quarter. Sales rose 30% compared with the previous year to €16.2 billion. Second-quarter income from operations (EBIT) before special items rose 94% to €2.2 billion.

Sales in the first six months increased 28% to €31.7 billion and EBIT before special items rose 96% to €4.2 billion. Both sales and EBIT before special items were also above the good level of the first quarter of 2010. These developments were especially due to very high demand in the chemicals businesses, that is, in the Chemicals, Plastics, Functional Solutions und Performance Products segments. This was augmented by inventory restocking along the value chain.

Outlook for the full year 2010

The full-year estimates are based on the following expectations for the global economy:

• Growth of gross domestic product: 3 - 4%
• Growth in industrial production: 7 - 8%
• Growth in chemical production (excluding pharma): 7 - 8%
• An average dollar-euro exchange rate of $1.30 per euro
• An average annual oil price of $75 per barrel

Hambrecht said: “We expect our sales to grow in 2010 and outpace global chemical production. We anticipate that EBIT before special items will improve considerably and we will again earn a premium on our cost of capital. According to our dividend policy, we expect a higher dividend for 2010.”

BASF’s Chairman expects that economic recovery will continue at a moderate pace in the second half of 2010. The necessary consolidation of government budgets around the world will dampen demand, as will the winding down of national stimulus programs. Other risks are primarily associated with volatile raw materials markets, excess capacities, growing geopolitical tensions and protectionism.

All segments help to boost earnings

Thanks to high demand, second-quarter sales in the Chemicals segment grew by 64% compared with the second quarter of 2009, which was weak due to the economic crisis. EBIT before special items was €429 million higher than the previous year’s figure (plus 166%). Despite the negative impact of the scheduled maintenance shutdown of the Nanjing Verbund site, earnings were up on first-quarter 2010 figures.

Sales in the Plastics segment were 48% higher in the second quarter compared with the weak level of the previous year. In addition to the good capacity utilization, the positive effects of restructuring measures are also reflected in the EBIT before special items. It increased by more than €211 million (plus 153%). Despite a number of scheduled maintenance shutdowns and short supply of polyamide 6,6, the earnings level of the first quarter were surpassed.

The Performance Products segment was able to significantly increase second-quarter sales by 29% year-on-year thanks to higher volumes and prices. There were delivery bottlenecks in some product lines due to the limited availability of important intermediates. EBIT before special items rose by €391 million (plus 489%). The strong earnings growth is attributable to the realization of synergies from the Ciba integration, the implementation of our business models and the favorable business environment. All divisions made a clearly positive contribution to EBIT before special items.

Sales in the Functional Solutions segment rose sharply in all regions in the second quarter, mainly due to stronger demand from the automotive industry, and increased 40% compared with the second quarter of 2009. EBIT before special items was up €117 million compared with the previous year (plus 244%). In addition to a more favorable business environment, successful restructuring measures contributed to this development.

Second-quarter 2010 sales in Agricultural Solutions were up 3% year-on-year. This was a result of favorable exchange rates and stronger volume sales in South America and Asia. EBIT before special items was €47 million below the previous year’s record high (minus 13%). This was due to lower prices and targeted increases in selling expenses and expenditures for research and development.

Sales in the Oil & Gas segment were 3% below the level for the second quarter of 2009. EBIT before special items rose by €9 million in the second quarter (plus 2%) due to volume increases in natural gas trading. Sales in Exploration & Production declined mainly because of OPEC production restrictions in Libya.

The segment Other posted significant sales growth of 32% in the second quarter of 2010. This was largely due to higher prices in the Styrenics business. Earnings improved in the Styrenics business. Provisions for the BASF Option Program reduced earnings because BASF shares significantly outperformed the benchmark index MSCI World Chemicals in the second quarter.

Sales and earnings increased in all regions

Sales by companies in Europe were 16% higher than in the same period of the previous year. EBIT before special items rose by €1.14 billion to €2.63 billion (plus 76%). Thanks to higher demand in the chemicals business, sales and earnings grew substantially compared with the weak first half of 2009. In the Oil & Gas segment, sales and earnings did not match the level of the first half of the previous year due to the decline in natural gas prices.

In North America, sales grew by 42% in U.S. dollars and 44% in euro terms. Earnings rose by €530 million to €792 million (plus 202%). Thanks to higher volumes, sales and earnings in the chemicals business increased sharply. Sales and earnings in the Agricultural Solutions segment were below the very good level of the previous year’s first half. This was partially due to lower sales volumes in our fungicides business as a result of higher inventories at distributors.

Sales in the Asia Pacific region rose by 55% in local currency terms, and by 60% in euro terms. Earnings grew by €357 million to €603 million (plus 145%), despite the scheduled maintenance shutdown of the Nanjing site. The dynamic economic upturn had a particularly positive effect on the chemicals business. In the Agricultural Solutions segment, sales and earnings were higher then the same period of the previous year.

In South America, Africa, Middle East sales were up year-on-year by 21% in local-currency terms and by 33% in euro. The successful Agricultural Solutions business in South America made an important contribution to this sales growth. Earnings in the region were 6% higher then in the first half of 2009.

About BASF

BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics and performance products to agricultural products, fine chemicals as well as oil and gas. As a reliable partner BASF creates chemistry to help its customers in virtually all industries to be more successful. With its high-value products and intelligent solutions, BASF plays an important role in finding answers to global challenges such as climate protection, energy efficiency, nutrition and mobility. BASF posted sales of more than €50 billion in 2009 and had approximately 105,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.

KapStone Paper and Packaging Corporation (NYSE: KS) ("KapStone")  today announced that on July 28, 2010, the Board of Directors elected Matthew H. Paull as a Director of the Company. Mr. Paull was elected as a Class C director with a term expiring in 2012.

Mr. Paull, age 59, was Senior Executive Vice President and Chief Financial Officer of McDonald's Corporation from July 2001 until he retired from that position in January 2008. He was named to Best Buy Co., Inc., Board of Directors in September 2003 and in June 2010 was elected the Lead Independent Director of the Best Buy Board of Directors.

Mr. Paull also serves as an Advisory Director of Pershing Square Capital and on the Advisory Board of the One Acre Fund, a charity focused on improving the productivity of family farms in Africa. Previously Mr. Paull served as a board member of the Loyola Ronald McDonald House and as an advisory council member for the Federal Reserve Board of Chicago. Mr. Paull earned his Bachelor of Arts degree and his Master's degree in accounting at the University of Illinois.

About the Company

Headquartered in Northbrook, IL, KapStone Paper and Packaging Corporation is a leading North American producer of unbleached kraft paper products and linerboard. The Company is the parent company of KapStone Kraft Paper Corporation which includes paper mills in Roanoke Rapids, NC, and North Charleston, SC, a lumber mill in Summerville, SC, and five chipping mills in South Carolina. The business employs approximately 1600 people.

SOURCE KapStone Paper and Packaging Corporation

Gardner Denver, Inc. (NYSE: GDI) announced today that its Board of Directors declared a quarterly dividend of $0.05 per share, payable on August 26, 2010, to stockholders of record as of August 10, 2010.

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, including, without limitation, the statements made concerning the Company's intent to pay an annual cash dividend and the Company's financial ability and sources to fund the dividend program. 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 Board's expectation that dividends will continue to be paid on a quarterly basis assumes that the Company's financial condition will permit the payment under Delaware law; that its operations will continue to generate sufficient cash flow to warrant the payment of a dividend and that market conditions and applicable laws and regulations make payment of a dividend appropriate. Any future dividend payments will depend upon the judgment of the Board, based upon the best interests of the Company, its stockholders and other constituents, and will be made only at the Board's discretion. Further risks that could cause actual 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
(217) 228-8209

SOURCE: Gardner Denver, Inc.