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(USA) International Paper will release third-quarter 2008 earnings on Thursday, Oct. 30, before the opening of the New York Stock Exchange. The company will host a webcast to discuss earnings and current market conditions at 10 a.m. EDT (9 a.m. CDT) that day...
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(USA) Chesapeake has announced that it has made progress on its ongoing efforts to address the upcoming maturity of its bank credit facility and its general liquidity needs. The holders of more than 70 percent of the principal amount...
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(USA) Weyerhaeuser will release third quarter 2008 results on Oct. 31 before the market opens. The company will hold a live conference call at 7 a.m. Pacific (10 a.m. Eastern) on Oct. 31 to discuss third quarter results...
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(Australia) Paperlinxhas announced a $300 million accelerated non-renounceable rights issue to fund a $150 million reduction in its debt. The local paper manufacturer and merchant is seeking to raise $200 million from an offer to institutions which will be settlement underwritten...
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(USA) Shares of Verso Paper rose more than 12 percent Wednesday as a Citi analyst named it a "top pick," saying the nation's second-largest coated paper producer is the best stock in the paper sector...
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(USA) Fine paper merchant PaperlinX said that it has extended the maturity date of the one-year tranche of its syndicated multi-currency debt facility. The US$589 million facility, established in February 2008, consisted of a US$251 million one-year tranche, a US$263 million...
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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...
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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.
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(USA) Fitch Ratings has placed the ratings of Aracruz Celulose S.A. (Aracruz) on Rating Watch Negative...
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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.
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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...
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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.
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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.
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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...
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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...
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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...
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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)...
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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...
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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...
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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...
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