UPM Announces SC Price Increase
UPM will be increasing the transaction price of our Supercalendered (SC) grades, effective with all new and existing orders with confirmed delivery dates on or after June 1, 2018. This increase includes all basis weights and finishes of Eco; Impresse; Impresse Plus; Max; Cat; Smart
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Congress Weighs In on Newsprint Antidumping Case
A bi-partisan group of the House of Representatives on September 18 asked the International Trade Commission (ITC) to deny a petition filed by the North Pacific Paper Company (Norpac) that requests antidumping and/or countervailing duties of over 50 percent on newsprint imported from Canada. The bipartisan letter, led by Representatives Chuck Fleischmann (R-Chattanooga, TN) and Jamie Raskin (D-Rockville, MD), argued that a well-documented shift from printed newspapers to digital alternatives has caused a dramatic decline in newsprint consumption. And, that this trade dispute, brought on my one mill with 400 employees, could put at risk 175,000 jobs in the newspaper industry. Other representatives that signed the letter include House Republican Conference chair, Cathy McMoriss Rodgers (R-WA) and representatives Mike Rogers (R-AL), Diane Black (R-TN) and Ralph Norman (R-SC).
Last week the Alliance Board of Directors sent its own letter to the ITC opposing the petition. The petition is also opposed by a broad coalition of U.S. and Canadian paper manufacturers, who understand that sharp price increases on customers could accelerate the decline in newsprint demand.
The ITC is expected to make a preliminary determination on petition on September 22. If the Commission decides to move forward, the ITC and the Department of Commerce will conduct investigations and hearings that could lead to a final determination in late spring 2018.
Europac Increases Its Net Profit by 59,4 per Cent
The Board of Directors of the Europac Group has approved its 2017 annual accounts, which recorded a net profit of 78 million euros, 59.4% up on 2016. Aggregate sales increased by 10.9% to 1,186 million euros, Aggregate sales increased by 10.9% to 1,186 million euros, while consolidated sales reached 868 million euros, 8.4% more than a year ago. Consolidated EBITDA amounted to 158 million euros, 25% up on the 127 million euros of the previous year, while recurring EBITDA totalled 147 million euros, 19.3% up on the previous year.
The difference between consolidated and recurring EBITDA is mainly due to the extraordinary effects of the sale of the packaging factory in Tangier and the logistics operator at the port of Viana do Castelo, as well as settlement of the guarantees linked to the acquisition of the paper and packaging factories in Rouen (France) in 2008. In this context, the EBITDA margin rose by 2.4 percentage points to 18.2%, while EBIT amounted to 106 million euros, 37.1% up on the previous year.