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(UK) Packaging and office products supply firm DS Smith Plc said its fiscal-2008 pre-tax profit climbed 39%, mainly on cost recovery through better pricing. Meanwhile, the company warned that its current financial year performance will be affected by sluggish demand and higher input costs.
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(India) The board of directors of Pudumjee Pulp & Paper Mills at its meeting held on Jun. 25, 2008, recommended a dividend for the year ended Mar. 31, 2008 at the rate of Rs 1.20 a equity share of Rs 10 each amounting to Rs 9.84 million.
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(UK) Profits at Cumbrian paper maker James Cropper have dropped 25% as it struggles to digest high energy and pulp prices. The 158-year-old company said yesterday it expected tough trading conditions to continue this year – and is looking at long-term projects to cut energy bills...
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(USA) Citi maintained 'Buy' rating on Smurfit-Stone Container Corp (Nasdaq: SSCC), but raised "Risk" rating and lowered price target. Citi analyst said, "We are changing our risk rating on Smurfit-Stone to "Speculative" from "High" risk.
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(USA) Verso Paper Corp. was Wednesday initiated with an outperform rating and $12 price target at Credit Suisse, which said the risk and reward balance is highly attractive given the issue's current valuation and that coated paper is one of the very few grades worth watching...
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(USA) Shares of Domtar Corp., a Montreal-based paper company, slipped to a two-year low on Wednesday, as an analyst noted tough times for the industry. The stock declined 6 cents to $5.18, after hitting $4.85 earlier in the session.
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(USA) Verso Paper came public midway through the month of May with a pricing of $12.00 per share. After many other successful launches of IPOs in April, underwriters were trying to make the most of the new-found liquidity and get as many deals priced as possible in order to collect...
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(USA) Sonoco, one of the largest diversified global packaging companies, will host its regular quarterly investor conference call on Thursday, July 17, 2008, at 11 a.m. Eastern time, to review its financial results for the second quarter of 2008...
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(USA) MeadWestvaco's Board of Directors has declared a regular quarterly dividend of $0.23 cents per common share. The payment of the dividend will be made on September 2, 2008, to shareholders of record at the close of business on...
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(USA) MeadWestvaco has announced that it has completed its $400 million accelerated share repurchase program. As a result of this program, which began in November 2007, the company retired 14 million shares at an average price of $28.51 per share...
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(South Africa/UK) Fitch Ratings on Thursday affirmed the rating of South African pulp and paper products supplier Sappi Manufacturing at long-term AA- (AA minus), and short-term F1+, with the outlook for the long-term rating stable.
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(Finland) UPM's operating profit for 2008 is expected to be weaker than that of last year due to higher than estimated costs of wood fibre sourcing and the weakening result for the sawn timber business. At the beginning of the year, UPM expected its full year...
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(Finland) Stora Enso's operating profit excluding non-recurring items for the second quarter of 2008 is expected to be about half the EUR 223 million achieved in the same period of 2007...
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(USA) MeadWestvaco will release its results for the second quarter 2008 on Thursday, July 24, before the market opens...
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(Australia) ANZ may have backed off helping to fund Gunns' proposed $2 billion pulp mill in Tasmania, but analysts are still pretty gung-ho about the Tassie timber giant...
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(USA) Citi has upgraded MeadWestvaco from Hold to Buy. Price target lowered from $33 to $31.
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(Canada) Another extension has been granted to the bankruptcy proceedings of Pope and Talbot, giving the receiver another three weeks to complete sales of pulp mills in Mackenzie and Nanaimo and a sawmill in Fort St. James...
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(Canada) AbitibiBowater Inc. has announced that its indirect subsidiary, Bowater Canadian Forest Products Inc., has entered into an amendment to its credit agreement...
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(USA) KapStone Paper and Packaging has announced that it has entered into a senior secured credit agreement for an aggregate of up to $555 million with Bank of America, N.A., as administrative agent...
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(Finland) UPM estimates the result for its sawn timber business will be weaker than forecast in the second quarter of 2008. Also the full year profitability outlook for the sawn timber business within the Wood Products Division is expected to further weaken markedly.
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