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(Canada) Fraser Papers has announced that it has secured a $25 million term loan with Canadian Imperial Bank of Commerce Inc... read more »
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(Canada) When a major unionized company slides into bankruptcy, union leaders often find their roles dramatically transformed: once-remote managers become allies, hard-won benefits turn into job-threatening costs and grievance arbitration takes a back seat to the fight for survival. read more »
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(USA) Fitch Ratings has placed the ratings of Aracruz Celulose S.A. (Aracruz) on Rating Watch Negative... read more »
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(USA) Glatfelter has announced that its Board of Directors declared a $0.09 per share cash dividend on its outstanding common stock. The dividend is payable on November 3, 2008, to shareholders of record as of the close of business on October 6, 2008. read more »
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(Indonesia) Asia Pulp & Paper Co Ltd, the Indonesian group which defaulted on debts of $14 billion in 2001, said on Monday it had reached a settlement with one of its creditors, Oaktree Capital Management, a U.S.-based fund... read more »
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(USA) Believe it or not there is still a bull market somewhere. And Cramer said it’s in paper and packaging companies. No, it’s not that exciting, but it is profitable. To see the video, click the headline link above. read more »
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Issuers in the global forest products sector have been subject to negative changes in credit quality as measured by rating actions, reviews and outlook changes over the past quarters, leading to a significant deterioration in credit quality, says Moody's Investors Service in a new report. read more »
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(Finland) Due to continued weakness in the demand in certain of its products, Ahlstrom revises its full-year outlook for 2008. Operating profit excluding non-recurring items is expected to be almost at the level of 2007, which was EUR 67.8 million... read more »
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(USA) RockTenn will webcast its analyst meeting in Syracuse, N.Y. on September 18, 2008. The meeting will provide presentations from senior management regarding RockTenn and its business segments, a question-and-answer period for analysts and investors in attendance... read more »
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(Finland) UPM will record an impairment charge of the Newsprint Division's goodwill in the third quarter. The Company's view of the newsprint market outlook has weakened... read more »
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(USA) Citi analyst says, "On July 14th, the day before the market bottomed (and the day oil prices peaked), Kimberly-Clark lowered its guidance for 2008, calling for an operating EPS range of $4.20-$4.30 (down from $4.45-$4.60 since January)... read more »
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(USA) A Credit Suisse analyst downgraded shares of timber business Potlatch Corp. to "Neutral" from "Outperform" Tuesday, saying he expects market volatility to continue in the timber real estate investment trusts... read more »
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(Canada) In response to an inaccurate press report issued today that Tembec Industries Inc. filed for bankruptcy protection in the United States, Tembec Industries Inc. has indicated that, as a final step in its recapitalization, it has filed a chapter 15 petition... read more »
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(Canada) Dundee Securities lowered its pulp price forecasts and downgraded paper maker Canfor Pulp Income Fund to "neutral," citing weakening conditions in the pulp market... read more »
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(USA) Citi analyst says, "Leadership or Bad Judgment - International Paper announced to customers that it is raising containerboard prices effective October 1st. If successful, 42-lb. linerboard would move to a record $670 per ton... read more »
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