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Materials and Metals Paper and Forest Products

  • *Sales binge is "catastrophe for the environment"- Greenpeace. SHANGHAI, Nov 17- China's Singles' Day online discount sales bonanza on Saturday saw bargain-hungry buyers spend over $38 billion, flooding the postal and courier businesses with around 331 million packages- and leaving an estimated 160,000 tonnes of packaging waste. China's State Post Bureau said...

  • HELSINKI/ MONTEVIDEO, Nov 8- Finnish pulp and paper maker UPM moved forward on Wednesday with a plan to build a new 2 billion euro pulp plant in Uruguay as it signed an infrastructure investment deal with the Latin American country. Uruguay is expected to invest $1 billion in its rail and road network as well as a port terminal. UPM already has one pulp mill in Uruguay...

  • MONTEVIDEO, Nov 7- Finnish pulp and paper maker UPM signed a preliminary agreement with Uruguay on Tuesday for a potential 2- billion-euro new pulp plant project, the company said in a statement. Last week the company announced it had concluded months of talks with Uruguay on infrastructure improvements needed for the plant. The deal on Tuesday lays out...

  • *Spain's IBEX posts best performance since May. LONDON, Oct 31- European stocks held at five-month highs on Tuesday, ending October with a 1.8 percent monthly gain, the second in a row, as third-quarter data fuelled confidence in the resilience of equity markets. "This morning's euro zone data provided a foundation on which euro zone equities have built small gains,"...

  • LONDON, Oct 31- European stocks held at five-month highs on Tuesday, supported by a jump in the shares of oil company BP, which announced buoyant earnings and a share buy-back programme. Spain's IBEX built on the previous session's gain, rising 0.7 percent as political tensions eased after Spain took over direct rule of Catalonia. Federal Reserve and the Bank of...

  • IP CEO: Our current tax rate creates 'competitive issues'

    Mark Sutton, International Paper CEO, talks about the advantages of lowering the tax rates on corporations and businesses. As we sell more, our supply chain will hire more, says Sutton.

  • HELSINKI, Oct 24- Finnish pulp and paper company UPM announced new cost cuts in its troubled paper business on Tuesday as rising pulp prices helped quarterly profits beat market expectations. The company announced it would close a magazine paper machine at a plant in Minnesota in the United States and streamline operations in Dorpen, Germany to save around 30...

  • The equity value of the offer is about $1.16 billion, based on 12.1 million Deltic's diluted shares outstanding at June 30. The combined company is expected to have a pro-forma market cap of about $3.3 billion and a total enterprise value of more than $4 billion, including about $700 million in net debt, the companies said. Deltic Chief Executive Officer John...

  • Oct 23- U.S. forest products company Potlatch Corp confirmed on Monday it would buy smaller peer Deltic Timber Corp in an all-stock transaction. Potlatch's offer values Deltic at $95.4 per share, representing a premium of about 7 percent. The equity value of the offer is about $1.16 billion, based on 12.1 million Deltic's diluted shares outstanding as of June 30.

  • Deltic had said in August that it would work with investment bank Goldman Sachs Group Inc and law firm Davis Polk& Wardwell LLP to review its options after activist shareholder Southeastern Asset Management Inc pressured it to explore a sale. The Wall Street Journal, which first reported the news, cited sources as saying Potlatch would offer 1.8 of its common...

  • Oct 2- International Paper Co, a fiber-based packaging, pulp and paper producer, said on Monday it would transfer $1.3 billion in pension obligations to No. 2 U.S. life insurer Prudential Financial. International Paper expects to take a pretax non-cash pension settlement charge of about $400 million in the fourth quarter. The average corporate pension fund was...

  • Oct 2- International Paper Co, a fiber-based packaging, pulp and paper producer, said on Monday it would transfer $1.3 billion in pension obligations to insurer Prudential Financial. Prudential will assume responsibility for pension benefits of around 45,000 former International Paper employees at the end of 2017, International Paper said....

  • Oct 2- U.S. paper maker Appvion Inc and some of its subsidiaries filed for Chapter 11 bankruptcy protection on Sunday, the company said. Appvion listed assets in the range of $100 million- $500 million and liabilities in the range of $500 million- $1 billion, the Delaware bankruptcy court filing showed. Appvion, headquartered in Appleton, Wisconsin and owned by its...

  • *Maersk says waste shipments into China have declined. The city's system for dealing with its paper waste has been failing since China in July imposed a ban on imports of 24 types of rubbish, as part of a campaign against "foreign garbage" and environmental pollution, including unsorted scrap paper. Traditional suppliers of waste paper to China include Europe, the...

  • Betting big on wood stocks

    Chip Dillon, Vertical Research Partners, discusses the outlook for paper and forest stocks following the destruction from hurricanes in the south.

  • SAO PAULO, July 25- Brazilian stocks hit a one-month high on Tuesday as a rally in the prices of commodity boosted shares of local blue-chips Vale SA and Petróleo Brasileiro SA. Bradespar SA, a key Vale shareholder, were the biggest gainers on Brazil's benchmark Bovespa stock index. Rising crude futures also lifted shares of Petrobras, as Brazil's...

  • July 23- Rayonier Advanced Materials said it raised its offer price for Canadian paper and cellulose pulp maker Tembec Inc to C $4.75 per share, valuing the deal at C $475 million, excluding debt. Oaktree Capital Management LP, Tembec's top shareholder which earlier opposed the deal, and another shareholder Bennett Management agreed to vote for the revised...

  • July 23- Rayonier Advanced Materials said it raised its offer price for Canada's Tembec Inc to C $4.75 per Tembec share, valuing the deal at C $475 million, excluding debt. Rayonier, which makes high-value cellulose specialties fibers, said in May it would buy Tembec for C $4.05 per share, to expand into packaging and forest products. The revised terms are approved...

  • July 17- Tembec Inc's largest shareholder, Oaktree Capital Management LP, asked other shareholders to reject Rayonier Advanced Materials Inc's deal to buy the Canadian paper and cellulose pulp maker, saying it was a "flawed" sale process. Oaktree, which owns a 19.9 percent stake in Tembec, said on Monday there is a significant value gap between Rayonier's offer...

  • CALGARY, Alberta, July 11- Rapidly spreading wildfires in British Columbia are set to tighten the supply of wood products and raise prices as they disrupt timber operations during the year's peak building season, industry and analysts said on Tuesday. Forestry products are a significant driver of the economy of British Columbia, which bills itself as the...