Ian Melin-Jones
Rottneros Packaging concludes transfer agreement.
Rottneros Packaging AB, a wholly-owned subsidiary in the Rottneros Group, develops, manufactures and sells food packaging based on cellulose fibre under the SilviPak brand.
Rottneros has concluded an agreement with the Swiss packaging company SIG Combibloc concerning the assignment of intangible assets, mainly in the form of patents and patent applications.
Rottneros Packaging's business operation with food trays under the SilviPak brand is not covered by this agreement. This transaction will have a minor impact on Rottneros' income statement, but will improve the Group's cash flow. The parties have agreed to keep the financial details related to the agreement confidential.
For further information, please contact:
Ole Terland, President and CEO, +46 8 590 010 00
NB
This information is such that Rottneros must disclose in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on Friday 19 February at 10.00 CET.
You can read the press release incl attachments here.
NewPage Press release
Wisconsin Rapids Water Works and Lighting Commission (WRWWLC) signed an agreement with Consolidated Water Power Company (CWPCo), a subsidiary of NewPage Corporation, to purchase CWPCo utility transmission and distribution assets.
Located in Wisconsin Rapids, CWPCo provides power to retail customers in [central Wisconsin]. CWPCo also owns and operates five hydroelectric projects along 33 miles of the Wisconsin River in DuBay, Stevens Point, Whiting, Biron and Wisconsin Rapids. The agreement with WRWWLC includes the assets necessary to deliver power to CWPCo's retail customers, and does not include the CWPCo hydroelectric facilities.
An application for approval of this sale was jointly filed later the same day with the Public Service Commission of Wisconsin. Time of closing is dependent on regulatory review and Commission approvals. The purchase price for the utility assets will be equal to the net book value of the assets at the time of closing.
About Wisconsin Rapids Water Works and Lighting Commission (WRWWLC)
The Wisconsin Rapids Water Works and Lighting Commission is a municipally owned electric and water utility. WW&LC serves 14,500 electric and 8,500 water meters in a service territory that includes the City of Wisconsin Rapids and all or parts of the towns of Grand Rapids, Seneca, Sigel, Grant and the Village of Biron.
About Consolidated Water Power Company (CWPCo)
A subsidiary of NewPage Corporation, Consolidated Water Power Company (CWPCo) owns and operates five hydroelectric projects along 33 miles of the Wisconsin River in central Wisconsin located in DuBay, Stevens Point, Whiting, Biron and Wisconsin Rapids. These five hydrofacilities house 39 hydrogenerators with a combined installed capacity of 35.2 megawatts (annual electricity use by about 75,000 households) and provide river water stability for recreational purposes and other uses. CWPCo also owns 24 percent of the Wisconsin Valley Improvement Company, which regulates the river upstream of DuBay, and is represented on the board of directors. The private corporation regulates a uniform flow in the Wisconsin River and helps coordinate the operation of hydroelectric plants on the Wisconsin River. This centralized coordination helps generate increased hydroelectricity and improve flood control capabilities.
About NewPage Corporation
Headquartered in Miamisburg, Ohio, NewPage Corporation is the largest coated paper manufacturer in North America, based on production capacity, with $3.1 billion in net sales for the year ended December 31, 2009. The company's product portfolio is the broadest in North America and includes coated freesheet, coated groundwood, supercalendered, newsprint and specialty papers. These papers are used for corporate collateral, commercial printing, magazines, catalogs, books, coupons, inserts, newspapers, packaging applications and direct mail advertising.
NewPage owns paper mills in Kentucky, Maine, Maryland, Michigan, Minnesota, Wisconsin and Nova Scotia, Canada. These mills have a total annual production capacity of approximately 4.4 million tons of paper, including approximately 3.2 million tons of coated paper, approximately 1.0 million tons of uncoated paper and approximately 200,000 tons of specialty paper. To learn more, visit www.NewPageCorp.com
Media Contact:
Shawn Hall
NewPage
937-242-9373
S&P's long-term credit rating on Norske Skog to B from B+
Standard & Poor's Rating Services has revised its long-term credit rating on Norske Skog to B, from earlier B+. The Negative Outlook is maintained.
Norske Skog does not have interest or covenants linked to the rating level on the existing debt.
UBC's Kerekes receives TAPPI's 2010 Gunnar Nicholson Gold Medal Award
TAPPI's most prestigious annual award will this year go to Richard J. Kerekes, PhD, Professor Emeritus with the University of British Columbia in Vancouver.
Kerekes will receive the 2010 TAPPI Gunnar Nicholson Gold Medal Award at a ceremony on May 4, during PaperCon.
"Dr. Kerekes' contributions to research, technology, and education for our industry over a 38-year period are exemplary and make him a deserving recipient for TAPPI's highest honour," says Larry N. Montague, president of TAPPI. "He has made numerous significant contributions to papermaking technology during his career, including founding the Pulp and Paper Centre at the University of British Columbia where he established a research program between UBC and Paprican."
"To a remarkable degree, he has contributed to most all of the unit operations in papermaking, from stock chests to calenders," said Gary A. Baum, 2009 Gunnar Nicholson Gold Medal Winner, who nominated Dr. Kerekes for the award. "His research has been characterized by a blend of solid science and the application of fundamental principles to the solution of practical problems."
Kerekes spent the bulk of his career with Paprican, the Pulp and Paper Research Institute of Canada, now known as FPInnovations, serving from 1971-2001. He was named honorary professor at the University of British Columbia in 1978, a position he held until 2001, when he was appointed full professor upon his retirement from Paprican. He served as the director of the Pulp and Paper Centre at the University of British Columbia from 1983 until 2005, when he retired from UBC.
Dr. Kerekes has made outstanding contributions in education. As the first Paprican person to relocate to Western Canada in 1978, he was charged with building a program with the University of British Columbia. While there he founded the $6-million Pulp and Paper Centre; orchestrated a research program between UBC and Paprican; co-led establishment of a Pulp and Paper Master of Engineering Program; and founded an Advanced Papermaking Initiative in 1998 based on a $8.5-million endowment from the Province of British Columbia.
Kerekes graduated from the University of Toronto with a Bachelor of Applied Science and Master of Applied Science in Mechanical Engineering. He earned his PhD in Chemical Engineering from McGill University. He is a long-time member of TAPPI and PAPTAC. He is currently a Fellow in TAPPI, the Canadian Academy of Engineering, the International Academy of Wood Science, and the Chemical Institute of Canada.
TAPPI is an association for the worldwide pulp, paper, packaging, and converting industries and publisher of Paper360° and TAPPI JOURNAL.
Rottneros Changes to the composition
The Annual General Meeting of Rottneros for 2009 resolved that the Nomination Committee, prior to the Annual General Meeting for 2010, should constitute the Chair of the Board, who shall not chair the Committee, together with two additional members, of whom one will represent the company's largest shareholder and the other represent one of the company's other four largest shareholders.
The AGM also resolved that if any of the shareholders who had appointed a member of the Nomination Committee ceases to be one of the five shareholders with the greatest voting power, the member(s) appointed by such shareholder(s) must tender their resignation and that a shareholder who has become one of the five shareholders with the greatest voting power shall be entitled to appoint its representative.
According to Euroclear's register, the five shareholders with the greatest voting power comprised, as of 29 January 2010, Nemus Holding, Case Asset Management, Danske Bank A/S, DnB NOR Bank ASA Sverige and HSH Nordbank. Torgny Prior, appointed by Prior&Nilsson Fond and Kapitalförvaltning AB, has therefore tendered his resignation. Case Asset Management has appointed as a new member Henrik Strömbom, CEO of Case Asset Management. Following this, the Nomination Committee comprises:
Olle Grundberg, Chair, Nemus Holding AB
Henrik Strömbom, Case Asset Management AB
Kjell Ormegard, Chair of the Board of Rottneros AB
The members of the Nomination Committee represent in aggregate just more than 25 per cent of the voting power of all shares in the company.
For more information, please contact:
Chair of the Nomination Committee, Olle Grundberg, mobile tel. no. +46 70 654 44 20
Chair of the Board, Kjell Ormegard, mobile tel. no. +46 70 668 93 76
When paper values meet EU values
CEPI comments and input for the consultation on the future "EU 2020" strategy: a new strategy to make the EU a smarter, greenersocial market. The EU Commission launched a consultation on the future EU 2020 strategy - a new strategy to make EU a smarter, greener and social market - on 24 November 2009 and asked for responses from stakeholders. Through this paper, CEPI - the Confederation of European Paper Industries - wishes to contribute to the consultation, give comments on the proposed vision for 2020 and the 3 thematic objectives, with a special focus on the industrial policy.
Slovenian paper and board association joins CEPI as new Member
The Confederation of European Paper Industries (CEPI) is pleased to announce that as of January 2010 the Paper and Paper Converting Industry Association of Slovenia has become its newest associate member. The Slovenian association gathers seven paper and board producers and many other paper and board converters. Together they produce 1,123,859 tonnes of paper, board and other converted paper products per year.
Stora Enso signs EUR 65 million loan agreement
Stora Enso has signed an agreement with the European Investment Bank (EIB) for a EUR 65 million loan to be used for the Ostroleka power plant construction project in Poland. The loan agreement is part of the commitment by EIB to lend altogether EUR 230 million to Stora Enso for research and development and the Ostroleka power plant project.
"We have a long and good relationship with EIB and we are delighted that through this agreement EIB is supporting our power plant project to improve Ostroleka Mill's energy self-sufficiency and energy efficiency. Along with the Langerbrugge and Maxau energy investments, the Ostroleka power plant is one of our biggest cost improvement investments this year at our existing mills in Europe. The terms of the loan are very competitive," says Stora Enso CFO Markus Rauramo.
The Ostroleka power plant to be completed in the third quarter of 2010 will further improve the cost competitiveness of Stora Enso's operations in Poland. As announced on 3 November 2008, the total investment in the Ostroleka power plant is estimated at EUR 137 million.
For further information, please contact:
Jyrki Tammivuori, SVP, Group Treasurer, tel. +358 2046 21043
Ulla Paajanen-Sainio, Head of Investor Relations, tel. +358 2046 21242
Proposals of the Board of Directors to the Annual General Meeting 2010
Kemira's Board of Directors will submit the following proposals to the Annual General Meeting:
*Resolution on the use of the profit shown on the balance sheet and on dividends
*Remuneration and composition of the Board of Directors
*Remuneration and election of the auditor
*Share repurchase authorization
*Share issue authorization
*Donation to the Aalto University Foundation
The Annual General Meeting of Kemira Oyj will be held in the Marina Congress Center, Katajanokanlaituri 6, Helsinki, Finland on Tuesday, March 16, 2010, at 1.00 pm. The invitation will be published on February 22, 2010 in Helsingin Sanomat, Kauppalehti and on Kemira's website.
NSK Launches New Canadian Website
NSK Canada (NSK), one of the world's leading bearing manufacturers, announced today the launch of a new bilingual Canadian website at www.ca.nsk.com. The website is a cornerstone of NSK's commitment to providing world-class resources, information and service to customers across Canada.
The improved website was designed to make it even easier for customers to do business with NSK and achieve maximum uptime and cost savings. New features include an improved navigation structure, product catalogues, case studies, installation and user guides, technical tools, industry-specific newsletters with hands-on advice, fully indexed product information, an enhanced distributor locator, seminar/training information, and much more.
All knowledge-based content was developed by an expanded team of NSK engineers and technicians to provide a superior online customer experience. Designers can review technical drawings and specifications. Maintenance personnel can review guidelines for the proper care of machinery and components. Facility managers can receive guidance for selecting replacement products.
NSK's commitment to Canadian customers not only includes the revamped website, but also corporate investment in additional customer service resources. NSK has grown their team of engineers, technicians and support staff to ensure that customers receive the best one-on-one service and assistance possible, by phone, online or on site. Not only will NSK's Canadian customers "Think NSK" for high quality motion and control products, but for value-added service backed by experience, innovation, reliability and performance.
Visit www.ca.nsk.com to view and interact with the new website, or contact NSK for more information.
About NSK Canada
NSK Canada is a member of the NSK Ltd. Group of companies headquartered in Tokyo, Japan. As one of the world's leading bearing manufacturers, it produces and distributes over 100,000 different types of bearings, linear motion and automotive component products.
In Canada, NSK operates with strategically located distribution centres that supply both the original equipment and industrial distribution market. Its network of authorized distributors has the expertise, inventory and delivery systems to meet industry needs, working in partnership with NSK sales and engineering teams to ensure those needs are met with precision and speed. For more information, visit www.ca.nsk.com.
About NSK Limited
Headquartered in Tokyo, Japan, NSK Limited is a world-class producer and innovator of motion and control products. Established in 1916, NSK became a world leader in the industry because of an intense commitment to engineering research, modern manufacturing processes and superior quality.
Today, the company is one of the world's largest bearing manufacturers, employs over 23,000 people worldwide, has 60 global manufacturing facilities and 127 sales offices, operates 12 technology centres and produces and distributes over 100,000 different types of bearings, linear motion and automotive component products. For more information, visit www.nsk.com