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Ironmark Creates Book Publishing Division with Acquisition of $13 Million United Book Press

Written by Paul Foster.

IronmarkLogoANNAPOLIS JUNCTION, MD—February 12, 2015—Ironmark announces the acquisition of a $13 million book and journal publisher, United Book Press (UBP), creating a separate book publishing division for the Howard County, MD-based printing and image company. With the acquisition, Ironmark will grow from $22 million in annual revenue to $35 million.

Founded in 1989, the family-owned UBP serves a customer base of publishers, trade associations, foundations, professional societies, colleges and universities, government agencies, corporations and self-publishers.

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International Paper agrees to merge xpedx distribution business with Unisource Worldwide, Inc.

Written by Kerry Stackpole.

international-paper-company-logoMEMPHIS, Tenn., Jan. 28, 2014 /PRNewswire/ -- International Paper (NYSE:IP) today announced that distribution solutions businesses xpedx and Unisource Worldwide, Inc. will merge under the terms of a definitive agreement that will result in the creation of a new publicly traded company. The agreements providing for the combination of the two businesses were signed by International Paper, parent company of xpedx, and by UWW Holdings LLC, the holding company that owns Unisource and is owned by an affiliate of Bain Capital and by Georgia-Pacific, as well as certain of their affiliates.

Upon the expected completion of the merger in mid-2014, which is subject to certain closing conditions, the new company will have projected annual revenue in the range of $9 billion to $10 billion, and will have about 9,500 team members across more than 170 distribution centers in North America.  "This transaction provides excellent value for International Paper shareholders and is a unique opportunity for xpedx and Unisource to create a new company that is stronger, more competitive and able to provide even greater value to customers," said John Faraci, chairman and chief executive officer of International Paper. "We anticipate the new company will generate synergies of about $200 million."
Mary Laschinger, president, xpedx, and senior vice president, International Paper, said, "We're bringing together two well established distribution businesses to create a new company with the financial stability and strategic focus to strengthen and grow our core businesses. Combined, the new company will be even better positioned to provide the products, services and ideas to support our customers' businesses."

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New Page Acquired By Verso Paper

Written by Kerry Stackpole.

verso-logoVerso Paper Corp. agreed to acquire printing and specialty paper producer NewPage Holdings Inc. for about $1.4 billion.  The deal is expected to create a stronger business to compete with increasing electronic substitutes for printed materials.

The deal includes total cash and debt consideration of $900 million. That includes $250 million in cash, most of which will be paid to the NewPage holders as a special dividend. Holders also will receive Verso shares representing at least 20% of Verso common stock before the deal closes. The transaction also includes refinancing of NewPage's $500 million term loan. The deal is expected to close in the second half of this year.

The company will be led by Verso Chief Executive Dave Paterson. Verso has agreed to appoint a NewPage director to its board.

 

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Obama Administration Delays Employer Mandate in Affordable Care Act

Written by Kerry Stackpole.

PPACAThe Obama Administration announced a ONE YEAR DELAY (or "transition relief") of the employer mandate portion of the Affordable Care Act (ACA) currently scheduled to take effect on January 1, 2014. The mandate would require employers with 50 or more full-time equivalent workers to provide health insurance at prescribed levels or to face penalties and fees starting at $2,000 per worker. The Treasury Department, which is in charge of implementing the employer mandate, conceded that the reporting requirements and compliance burdens facing businesses were too complex at this time and that the mandate would be delayed until 2015 to allow both the Administration and employers more time to understand the rules surrounding this key pillar of the 2010-passed ACA.
 
In terms of policy, the Congressional Budget Office (CBO) had estimated that penalties and fees assessed on employers would have reduced the federal deficit (and thus "paid for" the ACA) by $5 billlion in 2014; however, CBO also estimated that only a small portion of the currently uninsured would gain new coverage solely because of the provision, as many "large" (more than 50 workers) companies already provide coverage (especially true in our industry). The other two key parts of the ACA - the individual mandate and the government-managed health subsidies and federal/state health insurance exchanges - remain unchanged at this time.
 
PGAMA will continue to work with Printing Industries of America to lobby Congress and the Administration to seek solutions that will lead to more affordable, accessible health care coverage for employees in our industry. We will continue to keep you informed as major developments to the future of the ACA occur.

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International Paper Named Virginia’s Shipper of the Year

Written by Kerry Stackpole.

International Paper's return to using The Port of Virginia last year, has been recognized with the 2013 Port of Virginia's Shipper of the Year award that will be presented May 9 at the Virginia Maritime Symposium."This award recognizes a company that has gone above and beyond the course of normal business to help the port grow both commercially and operationally," said Thomas D. Capozzi, vice president of global sales and customer service for Virginia International Terminals Inc. "International Paper has worked well with our operational staff and has been very open to ideas and discussions about how to better process its cargo coming through here."International Paper reopened its mill in Franklin last June to produce fluff pulp. Several other locations were considered, but the availability of a trained workforce, proximity to raw materials and to the Port of Virginia played a large role in the decision to convert the shuttered mill to produce pulp."Container volume since the mill has reopened has grown dramatically and there are exploring opportunities to ship pulp via breakbulk ships as well," Capozzi said. "Breakbulk shipments can be handled by the port's network of on-dock warehousing."Other factors that were taken into consideration during the selection process of International Paper included:

  • The significant impact to the Hampton Roads/Franklin community for job creation. This includes jobs at the plant and for vendors serving the facility and its ancillary needs;
  • Overall reinvestment in the community; and
  • Multiple spin-off opportunities that include the attraction of new transportation vendors – trucking companies, for example -- to handle export cargo.

The mill is producing about 800 tons of fluff pulp each day, and is pursuing overseas exports where the demand is great. When the mill closed in 2010, it had been operating in the town for more than a century.

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PriscoDigital Brings “SPARK of Innovation” to Dscoop8

Written by Kerry Stackpole.

PriscoDigital brings the “SPARK of Innovation” to Dscoop8 with production workflows and latest HP Scitex Wide Format technologies

PriscoDigital, Esko and Caldera are offering a unique visitor experience with a practical ‘design-to-print-to-cut’ workflow for rigid media and flexible media

Newark, NJ, January 30, 2013 - At Dscoop8, February 21 – 24, Nashville, TN, for the second straight year, visitors can see a live demonstration of a complete, practical production workflow, from design-to-print-to-cut in adjoining Platinum Sponsor booths, Esko (#819) and PriscoDigital (#815). Join our staff of innovators as well as life-size replicas of Thomas Edison, Albert Einstein and Henry Ford that demonstrate how you can take your company in new directions.

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Value of Print Now Available in App Stores

Written by Kerry Stackpole.

The Value of Print Mobile App is now officially available for download!
  This app, your on-the-go resource to promote the value of print, is the new complement to the printed Value of Print Flip-Book, providing: a live RSS feed with the most up-to-date facts and statistics to support print’s effectiveness; unique access to searchable, targeted printing industry market data from the 2011 Print Market Atlas; and supported facts to respond to misconceptions and confirm print’s effectiveness. Download the Value of Print App on your mobile device today and enjoy access to the most compelling information at the touch of a button.