AbitibiBowater Inc., doing business as Resolute Forest Products, has announced that its Board of Directors has authorized the repurchase of up to 10% of the Company's common stock for an aggregate purchase price of up to US$100 million. The repurchase program will be funded using the Company's available cash.

"We are taking advantage of our strong financial position to act on an attractive opportunity to return cash to shareholders," said Richard Garneau, President and Chief Executive Officer. "The Company will continue to manage its capital with the utmost discipline, carefully balancing initiatives to return cash to shareholders with other considerations, such as pursuing sound capital investments and opportunities to further increase Resolute's earnings power.  We are committed to enhancing shareholder value in the long term."

The Company is authorized to repurchase from time to time shares of its outstanding common stock on the open market or in privately negotiated transactions in the United States. The timing and amount of stock repurchases will depend on a variety of factors, including the market conditions as well as corporate and regulatory considerations. The share repurchase program may be suspended, modified or discontinued at any time and the Company has no obligation to repurchase any amount of its common stock under the program. The repurchase program has no set expiration date. The company intends to make all repurchases in compliance with applicable regulatory guidelines and to administer the plan in accordance with applicable laws, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended.

The Board of Rottneros has decided to immediately commence negotiations regarding the termination of continuous groundwood pulp production at Rottneros Mill.  This is due to the rapidly declining consumption of printing paper in Europe, which has led to a dramatic reduction in demand for groundwood pulp. Rottneros Mill has around 100 employees, 50 of whom will be given notice of termination. CTMP production at the mill will continue, and limited investments will facilitate the development of quality for those customers that manufacture board at the same time as slightly increasing capacity.

In 2011, Rottneros announced first an improvement programme, which included the implementation of staff reductions, and second the book value of fixed assets was written down at Rottneros Mill. These measures have now essentially been carried out, but unfortunately appear to be insufficient.

The manufacture of groundwood pulp is expected to cease this winter, but the actual date depends on the outcome of union negotiations and also agreements with customers affected. Costs during the period of notice will be recorded on an ongoing basis and the book values of the groundwood mill have already been written down to zero, which in the current situation means that there is no intention of making substantial one-off appropriations.

“It naturally feels very sad to have to conclude that the market for this product is shrinking. Thanks to raw materials and the high level of professional skills at the mill, we are producing a select and leading product in terms of quality, but this is still not enough,” says Ole Terland, President of Rottneros AB. “It is of course worse for our employees who have to leave us and we are therefore attempting to make the transition as smooth as possible,” Terland concludes.

“The improved preconditions for CTMP will make us a leading manufacturer in terms of quality, primarily for the board and packaging segment, which is where we see the greatest potential for customer value," says Olle Dahlin, MD of Rottneros Bruk AB. “The production line for groundwood pulp is being left where it is, as it is not out of the question that demand could return, for example owing to changes in the supply of suitable recycled fibres. This will result in an opportunity to alternate staff between the two production lines, thereby generating flexibility," continues Dahlin.

The cut-backs at the groundwood mill will not affect the preconditions for the production of packaging within SilviPak and likewise for the potential manufacture of ‘green’ vehicle fuel at Rottneros Mill.

Pasi Tolppanen (Ph.D., Technology), 44, has been appointed Senior Vice President, Operations and Member of Pöyry's Group Executive Committee effective June 1, 2012. Tolppanen is currently in charge of Pöyry's Urban business in Finland. In his new role he will report to Heikki Malinen, President and CEO and will be responsible for performance improvement programmes, strategic resourcing and capacity management, engineering processes and tools as well as Group-wide HSEQ. Tolppanen has a ten year career with Pöyry. He has worked in various positions within the line organization.

The member of Pöyry's Group Executive Committee and Executive Vice President, Human Resources, Camilla Grönholm will leave Pöyry to join another company. She will carry on her duties until August 10, 2012. The process to find a successor has been started.

"We have during the past years systematically worked on developing our operational mode, key processes and leadership. In the newly established Group role, Pasi Tolppanen will ensure continuous focus on improvement of operational efficiency. Further development of our ways of working and improvement of our performance is a critical part of Pöyry's future success. We want to thank Camilla Grönholm for her 6-year contribution of establishing the global HR network and developing the people processes in Pöyry, and wish her success in her next endeavors", says Heikki Malinen, President and CEO, Pöyry PLC.

PÖYRY PLC

Aki Saarinen (born 1967), M.Sc. (paper technology), MBA, is appointed Executive Vice President, Strategic Business Development, and member of the Executive Management Team as of June 11, 2012, at Ahlstrom Corporation. Saarinen will report to Jan Lång, President and CEO, Ahlstrom.

In his new role, Saarinen will be responsible for managing business development related processes and exploring new business opportunities within Ahlstrom. He will be based in Helsinki, Finland.

Saarinen joins Ahlstrom from Treeactive Oy. Prior to that, Saarinen has been holding various senior executive technology positions at Metso Corporation in 2001-2011. He has also worked at Valmet Paper Machinery Oy and UPM Corporation. 

Buckeye Technologies Inc. has announced that Buckeye Florida has achieved forestry certifications from three internationally recognized organizations that promote responsibly managed forests: the Forest Stewardship Council™ (FSC), the Sustainable Forestry Initiative® (SFI), and the Programme for the Endorsement of Forest Certification (PEFC).

The purpose of these certifications is to ensure that companies which use forest resources meet society’s needs without compromising the ability of future generations to meet their own needs.

Buckeye received the certifications after a rigorous year-long process of developing documents, manuals, and procedures to guide fiber procurement and track fiber chain of custody.

The certification to the FSC standard is for Chain of Custody. The SFI certifications are for the SFI Standard 2010-2014 and for SFI Chain of Custody. The certification to the PEFC standard is for Chain of Custody.

Howard Drew, Buckeye’s Vice President, Wood Cellulose Manufacturing, said the certifications are an extension of the company’s long-standing policy of practicing sustainable forestry. “Buckeye is committed to monitoring and reviewing its sustainable forestry programs and to continually improving and broadening the practice of sustainable forestry. These independent, third party certifications reflect our commitment to meeting customer demand for products that are derived from forest fiber that is legally harvested and well-managed.”

Buckeye, a leading manufacturer and marketer of specialty fibers and nonwoven materials, is headquartered in Memphis, Tennessee, USA. The Company currently operates facilities in the United States, Germany, and Canada. Its products are sold worldwide to makers of consumer and industrial goods.

Source: Buckeye Technologies Inc.

At Hispack, the largest packaging exhibition in Spain, two FibreForm based products won distinguished awards within the food and beverage categories. One was a three-dimensional pack for candy and the other a creative box for sparkling wine. The packaging producer behind the success was Cycobox, a company part of the Leca Graphics group.

Since 1995, the Líderpack Awards have been the most highly respected awards in Spain in the Packaging and . The elected winners then represent Spain in the Worldstars for Packaging, which are the most important awards in the world of packaging.

“It has been a wonderful experience to work with the FibreForm paper. It has allowed us to create innovative shapes and to offer surprising packaging solutions which is hand in hand with the spirit of Leca Graphics.” says Ramón Lantero, Chief Executive from Cycobox of the Leca Graphics Group.

“We are delighted that people from the industry who are packaging professionals have selected FibreForm-based products for two of the awards. This clearly shows that the shelf appeal and the new brand image opportunities that smarter packaging can offer are attractive on the market.” says Nuría Renom, Business Development Manager, Sustainable Packaging Solutions at Billerud.

FibreForm is FSC®-certified and is made from renewable raw materials that also ensure compostable and recyclable packaging.

 One of the top corporate social responsibility experts in the Nordic countries specialising in human rights issues, Parul Sharma, will join Stora Enso as Vice President, Global Responsibility, for the Renewable Packaging Business Area on 18 June 2012. Renewable Packaging, headed by Mats Nordlander, is the Business Area responsible for instance for Stora Enso’s integrated pulp and board mill investment in Guangxi, southern China.

Since 2004 Parul Sharma has been working on CSR issues and human rights strategies for Swedish companies operating in Asia. She has acted as Human Rights Advisor to Amnesty Business Group, the European Commission and the European Public Law Centre. Three books on human rights and economic and social rights issues written by Parul Sharma have been published. In 2011 she was ranked as the most influential CSR expert in Sweden.

“We warmly welcome Parul Sharma to our team as she complements our current competences and can help us better understand our challenges, identify actions needed and implement changes in our demanding investment environments, especially in Asia. Social and human rights aspects of corporate responsibility are becoming increasingly important for all global companies, and openness and transparency are key issues for obtaining licences to operate in growth markets,” says Mats Nordlander, Executive Vice President, Renewable Packaging.

Parul Sharma joins Stora Enso from Sandvik AB, where she has worked as Global Head of CSR Auditing. She has trained and advised more than forty Swedish companies, investors and government agencies on how to integrate CSR practices into business operations.

Ashland Inc. has announced that Brendan Cummins, former chief executive officer of Ciba Specialty Chemicals, has been elected to the company's board of directors. With his election, the Ashland board now has 10 directors.

Cummins, 61, brings nearly 40 years of industry leadership experience to this new role. He spent 37 years with Ciba, holding a variety of international and senior management roles within the company. These roles included 20 years spent in the Asia Pacific region in finance and business unit leadership assignments. He served as chief operating officer from October 2005 through January 2008, when he was promoted to CEO. Ciba was acquired by BASF in late 2008. Since 2010, Mr. Cummins has served as a consultant to, and on the senior executive panel of, The Valence Group, a specialist mergers and acquisitions firm offering advisory services to companies and investors in the chemical, materials and related sectors. 

About Ashland Inc.

In more than 100 countries, the people of Ashland Inc. (NYSE: ASH) provide the specialty chemicals, technologies and insights to help customers create new and improved products for today and sustainable solutions for tomorrow. Our chemistry is at work every day in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, food and beverage, personal care, pharmaceutical, tissue and towel, and water treatment. Visit ashland.com to see the innovations we offer through our four commercial units - Ashland Specialty Ingredients, Ashland Water Technologies, Ashland Performance Materials and Ashland Consumer Markets.

Source: Ashland Inc.

Cascades Inc. (TSX: CAS), leader in the recovery and manufacturing of green packaging and tissue products, announces the consolidation of its corrugated product plants in its Norampac division in Ontario. The consolidation translates into an investment totalling in excess of $30 million in the Vaughan, St. Mary's, Etobicoke and Belleville plants, and the closure of the North York and Peterborough units, as well as the OCD plant in Mississauga.

“The purpose of this restructuring is to optimize the productivity in our corrugated product plants in Ontario and enhance customer service. These steps are in line with our regional development strategy, which includes the recent acquisition of three Bird Packaging plants,” explained Marc-André Dépin, President and Chief Executive Officer of Norampac.

As part of the strategic plan set in motion by Cascades, this consolidation aims to improve the group's profitability in an increasingly competitive market. This decision is another step in a series of initiatives taken over the past years that seek to modernize the Company's assets. With this goal in mind, Cascades announced in June 2011, the construction of Greenpac Mill LLC, a lightweight containerboard mill located in Niagara Falls, NY.

Investment in the Corrugated Products Sector

With this investment of over $30 million, Norampac aims to modernize manufacturing equipment in the four Ontario plants and increase production capacity, profitability, as well as productivity.

“We are investing for the future by taking the necessary measures to strengthen our leadership in the market and demonstrate our commitment to our clients,” explained Mr. Dépin. “The Vaughan, St. Mary's, Etobicoke and Belleville plants have the ideal infrastructure in which to incorporate new equipment with cutting edge technology, ranking them among the most competitive in Canada. These investments will enable us to provide clients with a wider variety of packaging products, increase the speed of execution and improve the quality of our products and services,” added Mr. Dépin.

Closure of Three Plants

In a competitive packaging market, which is strongly influenced by the strength of the Canadian dollar and enhanced competition from US manufacturers, Norampac has no choice but to reduce its operating costs through the closure of three corrugated product plants in Ontario.

“The decision to close the OCD, North York and Peterborough plants can be explained by a decrease in demand in the Canadian and North American corrugated products industry dating back to the beginning of the recession, as well as the large number of Norampac converting plants in Ontario. These factors, combined with adverse economic conditions, have forced us to restructure our assets in order to be more competitive” explained Mr. Dépin. The three operating units are scheduled to close at the end of 2012.

The OCD, North York and Peterborough plants are specialized in converting corrugated products. In preparation for the closures, production from these plants will gradually be redirected to other Norampac converting plants in the Province, which will continue to supply the plants' clients with the same quality and services. Many of the 200 employees from the three plants will have the opportunity to transfer to other Norampac plants in Ontario.

“As was the case in Québec in 2010 and in the north-east of the United States in 2011, the consolidation of our Norampac operations in Ontario, to which we are adding significant investments to modernize our facilities, will allow us to optimize our assets in this region and improve Cascades' performance,” added Mr. Dépin.

Source
Marc-André Dépin
President and Chief Executive Officer 
Norampac, a Division of Cascades Canada ULC

The board of directors of Ashland Inc. (NYSE: ASH) has declared a quarterly cash dividend of 22.5 cents per share on the company's common stock. This represents a 29 percent increase from the previous quarterly dividend and is equivalent to an annual dividend of 90 cents per share. The dividend is payable June 15, 2012, to shareholders of record at the close of business on June 1, 2012. As of March 31, 2012, there were 78,467,329 shares of Ashland common stock outstanding.

"This dividend increase reflects the board's continued confidence in the strategic direction of the company, as well our ability to generate cash and deliver strong financial performance for shareholders," said James J. O'Brien, Ashland chairman and chief executive officer. "Since 2009, we have tripled our annual dividend, a clear sign that Ashland's transformation into a specialty chemical company has yielded tangible benefits for our shareholders and provided a strong platform for continued growth in the years ahead."

In more than 100 countries, the people of Ashland Inc. (NYSE: ASH) provide the specialty chemicals, technologies and insights to help customers create new and improved products for today and sustainable solutions for tomorrow. Our chemistry is at work every day in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, food and beverage, personal care, pharmaceutical, tissue and towel, and water treatment. Visit ashland.com to see the innovations we offer through our four commercial units - Ashland Specialty Ingredients, Ashland Water Technologies, Ashland Performance Materials and Ashland Consumer Markets.

Source: Ashland Inc.