To ensure future competitiveness of UPM Communication Papers, UPM announces plans for permanent closing of UPM Kaipola paper mill in Finland, sale of UPM Shotton paper mill in Wales and streamlining Communication Papers business function teams. In addition, UPM Biorefining and UPM Specialty Papers announce plans for reorganising and streamlining activities in Finnish pulp mills, UPM Forest and UPM Tervasaari mill in Finland. The planned actions would result in annual cost savings of EUR 75 million. Decisions on the final plans will be made after the co-determination procedures have been concluded.
As part of the cost savings program, the Company will permanently close the uncoated freesheet manufacturing at the Kingsport, Tennessee and Port Huron, Michigan mills, the remaining paper machine at the Ashdown, Arkansas mill and the converting center in Ridgefields, Tennessee. These actions will reduce the Company’s annual uncoated freesheet paper capacity by approximately 721,000 short tons, and will result in a workforce reduction of approximately 780 employees. The Kingsport and Ashdown paper machines, which have been idled since April 2020, will not recommence operations. The Port Huron and Ridgefields mills are expected to shut down by the end of the first quarter of 2021.
SCA has announced plans to discontinue publication paper production at the Ortviken paper mill in Sundsvall and exit printing paper markets in 2021. Co-determination negotiations with trade unions are set to begin soon.
To help close out the virtual Inkjet Summit 2020 on Aug. 25, Quad Chairman, President and CEO Joel Quadracci provides his perspective on the future direction of the graphic arts industry, including changes in business models and how customers will buy print, and why inkjet digital printing technology will help usher in a new golden age for our industry.
COVID-19 has reshaped how brands communicate with consumers in profound ways, and inkjet is, in many ways, perfectly positioned to be the technology that helps them reconnect in very personal, meaningful ways, especially when it comes to direct mail.
Dick’s Sporting Goods reported soaring second-quarter earnings and sales, with a nearly 200% increase in online revenue, as more consumers bought its goods to stay active during the pandemic.
Dollar General Corp. continued its financial momentum from the first quarter and elevated the position of its chief people officer.
Payless said it is reemerging in the North American market with a new omnichannel approach, both online and in-store. As part of its new strategy, the retailer has set a goal of opening 300 to 500 freestanding stores across North America during the next five years, beginning with the launch of a prototype in late fall, in Miami, which is also home to the brand’s new headquarters. The company intends to open 30 to 45 stores in the region by the end of next year, reported Women’s Wear Daily.
What is going to happen to America’s dead malls? That’s a million-dollar question plaguing retailers and real estate developers. With a report circulating earlier this month that the biggest U.S. mall owner Simon Property Group has been in talks with Amazon to convert some shuttered Sears and J.C. Penney department stores into fulfillment centers, many industry analysts have been pontificating on the future of malls as logistics hubs.
Dollar Tree harvested some impressive results in Q2 fiscal 2020. The dollar store retailer reported a consolidated net sales increase of 9.4% to $6.28 billion from $5.74 billion in the prior year's second quarter. Enterprise same-store sales increased 7.2%. Same-store sales for Family Dollar increased 11.6%, while Dollar Tree same-store sales increased 3.1%
The American Forest & Paper Association (AF&PA) today released its July 2020 Packaging Papers & Specialty Packaging Monthly report. According to the report, total packaging papers & specialty packaging shipments in July increased seven percent compared to July 2019. They were up three percent when compared to the same seven months of 2019.
