MONTREAL—Quebecor Inc. was unsuccessful in its bid with the Quebec Superior Court to stop its former printing subsidiary, Quebecor World, from purchasing a press to produce advertising inserts, according to Canadian Press (CP). A U.S. bankruptcy court also gave the green light for the purchase of two other presses, for a total investment of US$50 million.
METSA, FINLAND—M-real Corp., a subsidiary of Metsäliitto Group, has signed an agreement to sell its graphic papers business to Sappi Ltd. for an enterprise value of 750 million euros. The deal consists of 500 million euros in cash and assumed debt, 200 million euros in a vendor loan note from Sappi to M-real and 50 million euros of newly issued shares in Sappi.
HEIDELBERG, GERMANY—10/02/2008—Heidelberger Druckmaschinen AG (Heidelberg) will, based on first calculations, achieve sales between 800 and 820 million Euro in the second quarter of the current financial year 2008/2009 (July 1 to September 30). Thus, sales volume is less than expected for the quarter following drupa trade fair and decreased by 10 percent compared with the same quarter in the previous financial year. Based on orders generated at drupa, Heidelberg had expected a stronger increase in sales in comparison to the first quarter of the current financial year, but recognises significant reluctance to invest in all regions because of the actual economic situation.
WASHINGTON, DC—The U.S. Postal Service registered a net loss of $1.1 billion for the third quarter, its financials reflecting reduced mail volume and increasing transportation costs. Operating revenue dropped $437 million to $17.9 billion for the quarter compared to the same period last year. Volume fell to 48.5 billion pieces, a 5.5 percent decline.
HEIDELBERG, GERMANY—08/05/2008—In the first quarter of financial year 2008/2009, Heidelberger Druckmaschinen AG (Heidelberg) recorded a significant improvement in incoming orders over the previous year thanks to the industry trade show drupa. In the period under review, the Heidelberg Group increased its incoming orders by around 23 percent over the same quarter the previous year to 1.151 billion Euro (previous year: 934 million Euro). As already announced on July 10, 2008, sales and earnings were significantly down on the equivalent figures for the previous year due to difficult market conditions and customers’ reluctance to invest in the run-up to drupa. Sales by the Heidelberg Group
HAMILTON, BERMUDA—Online printer VistaPrint Ltd released its financial results for the third quarter of its 2008 fiscal year. The company posted quarterly revenue of $105.8 million, an increase of 53 percent when compared to sales of $69.3 million in the same quarter of fiscal year 2007.
The 2012 Printing Impressions 400 list of the largest printing companies in the United States and Canada as ranked by annual sales.
HEIDELBERG, GERMANY—06/13/2007—Heidelberger Druckmaschinen AG (Heidelberg) clearly increased both sales and earnings in financial year 2006/2007 (April 1, 2006 to March 31, 2007). “For the fourth year in succession, we have been able to draw on the upswing in the global economy and the resultant upward trend in our industry,” stated Bernhard Schreier, CEO of Heidelberger Druckmaschinen AG. “For the current financial year, we are expecting moderate growth in the volume of business,” he added. Sales by the Heidelberg Group during the period under review climbed six percent to 3.803 billion Euro (previous year: 3.586 billion Euro). The fourth quarter alone returned sales of 1.214 billion
MEMPHIS, TN—International Paper (IP) has strengthened its balance sheet by more than $7 billion since embarking on a transformation plan in mid-2005 aimed at becoming a more focused and profitable company. IP has reduced its debt by approximately $6.2 billion from roughly $13.4 billion. A majority of the debt reduction was funded through divestiture proceeds…
HAMILTON, OH—December 20, 2006—SMART Papers LLC today reported that the U.S. Bankruptcy Court for the District of Delaware has approved and confirmed its business reorganization plan, paving the way for emergence from Chapter 11 upon the company’s sale to an affiliate of Plainfield Asset Management LLC, a Greenwich, CT-based investment advisor. The SMART Papers Plan of Reorganization was approved by the court yesterday in Wilmington, Del. The plan was accepted by an overwhelming majority of voting creditors. It is also supported by SMART Papers’ secured lender, its unsecured creditors committee, Memphis-based International Paper Co. and many other important creditor groups. “We’re very pleased with
