Axel Springer expands portfolio in online classifieds markets

Axel Springer AG is reinforcing its positioning in the core business of online classifieds markets. The company is acquiring a 51 percent stake in the online enterprise ‘Umzugsauktion’ based in Freiburg, Germany, through its wholly-owned subsidiary Immonet.de . The companys founders, Franz Jelinic and Sebastian Palos, are set to retain an interest of 49 percent and continue running the enterprise.

Thursday 22. April 2010

Axel Springer sells its stake in CORA Verlag

Axel Springer AG has sold its 50 percent stake in the Hamburg-based publisher CORA Verlag to the former joint venture partner Harlequin Enterprises. This subsidiary of the Canadian media group Torstar will now hold all the equity in CORA, one of the leading German publishers of romance literature.

Thursday 22. April 2010

WEILBURGER Graphics reinforces export business

New branch in Spain and new sales office in the emirate Sharjah

Thursday 22. April 2010

Stora Enso divests its Kotka Mills to OpenGate Capital

Stora Enso has signed an agreement to sell its integrated mills at Kotka in Finland and its laminating paper operations in Malaysia to private equity firm OpenGate Capital to focus Stora Enso’s business portfolio as announced on 19 August 2009. The total consideration including earn-out is up to EUR 24 million. Stora Enso has recorded a write down of EUR 23 million relating to working capital and fixed assets as non-recurring items in its first quarter 2010 results. The divestment is expected to be finalised during the second quarter of 2010.

Thursday 22. April 2010

Stora Enso continues pulp, fine paper and sawnwood production at Varkaus, newsprint production planned to be permanently closed down

Stora Enso announced on 19 August 2009 that it planned to close down the Varkaus mill site in Finland permanently by the end of 2010 unless there were a robust recovery in the supply and demand balance for office paper that would allow clearly profitable operation.

Thursday 22. April 2010

Pitney Bowes Signs On as Platinum Sponsor of All-Author Benefit Concert Tour

Pitney Bowes Inc. (NYSE: PBI) announced today that the East Coast concert tour of the bestselling author rock group Rock Bottom Remainders will be backed by the companys brand. Proceeds from the tour will benefit education and literacy efforts in Haiti and in the cities where the tour will take place.

Thursday 22. April 2010

Stora Enso CEO Jouko Karvinen comments on first quarter results and asset restructuring measures announced today

“Our first quarter results announced today are further proof of the effectiveness of our early focus on things we can control. At EUR 119 million, the operating profit excluding fair valuations and non-recurring items is still not acceptable, but it is a remarkable improvement from almost zero a year ago, especially as it includes a loss of approximately EUR 12 million due to the Finnish stevedores’ strike. Despite volume recovery, the cash flow from operations was a relatively decent EUR 119 million and our cash position remained strong.

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