Avilon Ltd, part of Neo Industrial's Viscose Fibers business, has today been accepted by its local district court for a corporate restructuring program.

Avilon submitted the application on 7 September, 2011 due to its critical liquidity situation. Exceptionally volatile raw material as well as viscose fiber markets have lead to the company's difficulties.

- We have faith in our long-term prospects, and trust that we will get back to profitable business in reasonable time. Being accepted for the restructuring shows that others too have trust in us, says Avilon's Managing Director Heikki Hassi.

Neo Industrial Plc

International Paper has announced the appointment of Sharon R. Ryan to the position of Senior Vice President, General Counsel and Corporate Secretary effective November 1, 2011. The Board of Directors approved the promotion of Ryan following her role as Acting General Counsel since May 1, 2011. Ryan will report to John Faraci, International Paper's Chairman and Chief Executive Officer and will be based in the Company's Memphis, Tenn., headquarters.

"Sharon brings a combination of industry knowledge, integrity, experience and practicality to this critical position," said John Faraci. "I am confident that Sharon will continue to make a significant contribution in helping International Paper achieve our strategic goals, while fulfilling her professional responsibilities in a principled manner."

Sharon Ryan joined International Paper in 1988 and in 1992 was named Vice President and General Counsel of Masonite Corporation, a former International Paper subsidiary. In 1997, Ryan was named General Counsel - Building Materials Group and became General Counsel of Consumer Packaging and Corporate Sales and Marketing in 2000. Ryan was promoted to Associate General Counsel - Corporate Law in 2006, and in 2009 assumed the additional role of Chief Ethics and Compliance Officer. She was appointed Vice President of International Paper in February 2011 and in May 2011 she became Acting General Counsel and Corporate Secretary.

Ryan, 52,received her undergraduate degree from George Washington University in 1981. In 1985, she received her J.D. degree from Boston College Law School where she was an editor for the Boston College Law Review.

SOURCE International Paper

Tembec has announced that that Pine Falls Development Corporation (PFDC) has acquired the Tembec Pine Falls, Manitoba mill property and assets. PFDC is an investment project of NRI Global Inc., a company that acquires and manages assets throughout North America.

The site is being sold for nominal net proceeds and the transaction will not impact the Company’s financial results as its carrying value had been reduced when the newsprint mill located on site was permanently idled.

The Tembec Pine Falls facility ceased production in September 2009. Permanent closure was announced in 2010. Tembec will transfer the site to PFDC who has finalized a plan to remediate the site in an approach that allows for investment recovery, site redevelopment and assured environmental closure.

NRI Global is a private investment firm that acquires distressed or impaired assets. NRI Global has offices in Toronto, Ontario and Buffalo, New York. The firm specializes in pulp and paper, energy, and resource transactions in North America. NRI Global and its subsidiary companies have operational expertise in finance, environmental remediation, site redevelopment, industrial services and trade.

For more information about PFDC, visit www.pinefallsdevelopment.com.

China’s total pulp imports surged 23.6% in August from the previous month, to around 1.192 million tonnes, according to data from China Customs (see table below).

The figure was 40.1% higher than the 850,936 tonnes recorded in August last year.

Pulp imports for the first eight months of this year totaled some 9.345 million tonnes, up 26.8% from the previous year.

              CHINESE PULP IMPORTS (TONNES)
                                   BSK pulp      BHK pulp     Total pulp
August 2011                 432,632        460,147      1,192,333
July 2011                      469,829         283,304       964,440
% change                      -7.9%            62.4%           23.6%
August 2010                 301,159        343,469       850,936
% change                     43.7%            34.0%           40.1%
Year-to-date 2011       3,803,965     3,312,590    9,345,261
Year-to-date 2010       2,495,020     3,037,140    7,367,846
% change                     52.5%             9.1%            26.8%

Brazil’s Pulp and Paper Assn (Bracelpa) reported today that bleached eucalyptus kraft (BEK) pulp exports grew 15.8% to 678,000 tonnes in August compared to the same month of 2010. Meanwhile, apparent consumption dropped 11.2% to 458,000 tonnes and production edged up 4%, totaling 1.2 million tonnes.

Bracelpa‘s numbers also convey that the country‘s domestic pulp sales declined 3.8% to 128,000 tonnes in August from a year ago.

Through August, Brazil‘s pulp apparent consumption decreased 1.3% from 4.09 million tonnes to 4.03 million tonnes. In the period, Brazilian paper use flattened at 6.15 million tonnes while output also remained stable at 6.54 million tonnes.

DS Smith Paper’s specialist producer of filing and educational papers, Higher Kings Mill in Devon, has been purchased by Asia File Corporation Berhad. The international company, based in Malaysia, is engaged in the manufacturing and marketing of filing and stationery products. The sale, for an enterprise value of £4.6 million, payable in cash, was completed on 30 September 2011. Once the sale has been finalised, all Higher Kings’ employees will transfer automatically to Asia File’s UK subsidiary.

This transaction marks a further development in the execution of DS Smith Plc’s strategy to focus on recycled packaging for consumer goods and to reduce paper manufacture that does not directly support the packaging business.

DS Smith Paper’s Managing Director, Chris Rosser, said: “This is a ‘win win’ situation. The employees of Higher Kings will become part of an expanding company specialising in the mill’s products and markets, while DS Smith Paper sharpens its focus on the packaging industry as a key part of DS Smith’s strategy to deliver higher returns on capital with reduced cyclicality.”

Metso is strengthening its product offering by certifying valve products according to the latest widely accepted fire-safe standard - API 607 6th edition.

The plan is to replace all former fire-safe certificates and to widen the range of Metso fire-safe certified products in order to better serve our customers' needs and requirements and to expand the applications for our product range.

At present, the testing plan applies mainly to Neles ball valves - such as the new D1F-, D2- and X-series valves - as well as L6-butterfly valves and Finetrol-valves. The burnt valves have been selected to achieve as much coverage as possible in terms of size and pressure class with a single test.

State-of-the-art testing facilities

The new tests, to meet the requirements of API 607 6th edition, will be carried out by Metso using its own highly sophisticated fire-safe equipment to test and certify valve products. This equipment, which can be used for valves up to sizes 8" and pressures up to150 bar, is located in the new state-of-the-art laboratory facilities at the Metso Valve Technology Center (located in the Greater Helsinki region), which was opened in September 2011.

The new laboratory is part of a major investment by Metso aimed at raising standards in valve production and service throughout the many industries we serve.

Safety, and fire safety in particular, is a top priority for Metso and all equipment at the new Valve Technology Center incorporates the latest safety features needed to minimize risks related to high temperatures and pressures, and only fully trained laboratory personnel are permitted to carry out such tests.

Gardner Denver, Inc. has announced that it has entered into a share purchase agreement with the holders of 100 percent of the outstanding shares of Robuschi S.p.A. ("Robuschi"), a market leading European manufacturer of blowers and pumps, for a purchase price of approximately EUR 152 million ($207 million at current exchange rates). Robuschi is headquartered in Parma, Italy, and has annual revenues of approximately EUR 70 million ($95 million). Its shares are currently held by an investor group led by Milan, Italy based Aksia Group.

Robuschi is a leading European producer of blowers, pumps and associated packages. These products are used in a wide variety of end markets including wastewater, mining, and power generation, as well as general industrial applications. With facilities in Noceto, Italy; Sao Paulo, Brazil; and Shanghai, China, in addition to its main production facility in Parma, Robuschi serves over 3,000 customers and has an installed base in excess of 200,000 units.

"Robuschi is an outstanding strategic addition to the Gardner Denver portfolio and an excellent fit with our Industrial Products Group," stated Barry L. Pennypacker, President and Chief Executive Officer of Gardner Denver. "Robuschi's advanced manufacturing capabilities are expected to enable significant cost synergies as we continue to optimize our European manufacturing footprint supported by the principles of the Gardner Denver Way. I would like to welcome the talented employees of Robuschi to the Gardner Denver family and I look forward to developing the strong Robuschi brand name globally."

The transaction is subject to customary closing conditions, including the receipt of applicable regulatory approvals, and is expected to close in the fourth quarter of 2011.

SOURCE: Gardner Denver, Inc.

Verso Paper Corp. has announced that it will permanently reduce its annual production capacity by 193,000 tons. This will be accomplished by the permanent shutdown of the No. 2 coated groundwood paper machine at its mill in Bucksport, Maine, effective October 23 and two supercalendered (SC) paper machines at its mill in Sartell, Minnesota, effective December 14.

The shutdown of the No. 2 paper machine at the Bucksport Mill will reduce Verso's annual coated groundwood capacity by 90,000 tons or approximately 10 percent. With an annual capacity after the shutdown of 925,000 tons, Verso will remain the second largest producer of coated groundwood paper in North America. The Bucksport Mill's workforce will be reduced by approximately 125 employees.

The shutdown of the No. 1 and No. 2 paper machines at the Sartell Mill will eliminate approximately 103,000 tons annually of SCA and SCB paper capacity. The Sartell Mill's workforce will be reduced by approximately 175 employees.

"While improved from the recent lows of 2009, demand for coated groundwood papers continues to face headwinds," said Verso President and CEO Mike Jackson. "The cost structure of the No. 2 paper machine at Bucksport, continuously rising input costs and these headwinds resulted in this decision to permanently reduce our coated groundwood capacity. This is consistent with our continuing commitment to match supply with customer demand. The demand for supercalendered papers remains fairly stable in the marketplace; however, despite our employees' diligent efforts, the cost structure of the two SC machines to be shut down at the Sartell Mill remains unfavorable.

"The decision to permanently reduce production at Bucksport and Sartell was difficult and we are mindful of the impact it will have on the affected employees and their families," Jackson added. "I want to express my sincere gratitude to the affected employees for their years of service to Verso, and to recognize all Bucksport and Sartell employees for their hard work and continued focus on safety in the workplace."

"Verso remains committed to customer service and delivery of high-quality paper products, and we will work closely with our customers to make the necessary transitions as seamlessly as possible," said Mike Weinhold, Verso Senior Vice President of Sales, Marketing and Product Development.

The paper machine shutdowns will result in an aggregate pre-tax charge to earnings of approximately $22 million, which is expected to occur primarily in the fourth quarter of 2011. This includes approximately $13 million for severance and benefit costs; approximately $7 million in non-cash charges related to the accelerated depreciation of property and equipment over a reduced remaining useful life and the write-off of related spare parts; and approximately $2 million related to other costs. The severance and other shutdown costs require the outlay of cash, which is expected to occur primarily in the fourth quarter of 2011.

Costs associated with shutdown activities are based on currently available information and reflect management's best estimates; accordingly, actual cash costs and non-cash charges and their timing may differ from the projections stated above.

Source: Verso Paper Corp.

AbitibiBowater has announced that it will change the Company name to Resolute Forest Products as of November 7, 2011.

"We are changing our name to Resolute Forest Products to better reflect the fundamental characteristics of the Company we are today, including our determination, strength and resolve to be a profitable, sustainable organization," stated Richard Garneau, President and Chief Executive Officer. "With our competitive cost structure, diversified revenue base and strong balance sheet, we are well-positioned for the long term."

The Company identity change follows an initiative, launched in April 2011, in which employees were invited to suggest a new name for the Company. An internal selection committee and the Executive Team chose Resolute Forest Products from among approximately 1,400 employee submissions.

"This identity change serves as an opportunity to reposition the Company and to redefine ourselves with customers, shareholders and the communities in which we live and work," continued Garneau.

On November 7, 2011, the Company will begin using Resolute Forest Products and related visual identity on its marketing materials, website, signage and other communications. When communicating in French, the Company will use the name Produits forestiers Résolu. Prior to the November launch, the Company will continue to be referred to as AbitibiBowater.

While the Company will be doing business as Resolute Forest Products as of November 7, AbitibiBowater Inc. and its subsidiaries will not change their legal entity names until the Company obtains shareholder approval as required by law. The Company will seek formal shareholder approval at its 2012 Annual General Meeting.

For customers, suppliers and other stakeholders with whom the Company interacts, little will change beyond how the Company will refer to itself and its products. The Company will operate "business as usual" with respect to invoicing, payments, contracts, Company stocks and stock market listings. AbitibiBowater will work to ensure the transition to the new identity is as smooth and seamless as possible for all its stakeholders.

The Resolute Forest Products logo calls to mind the forest in which the Company works, the paper and lumber products it manufactures, and the modern and dynamic nature of the organization. Paper products are reflected in the half-circle of the "R", symbolizing a paper roll, as well as in the folds within the logo. The rectangular and triangular shapes, in the legs of the "R", represent wood products and forestry. Through the use of green as a primary color, the design also depicts the Company's determination to be a profitable business, committed to sustainability.

AbitibiBowater and other member companies of the Forest Products Association of Canada, as well as a number of environmental organizations, are partners in the Canadian Boreal Forest Agreement. The group works to identify solutions to conservation issues that meet the goal of balancing the three pillars of sustainability linked to human activities: economic, social and environmental.