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.
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.
“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.
Stora Enso Interim Review January-March 2010 ; Strong earnings recovery due to lower costs and slowly improving markets
Varied development during Q1
Following intensive talks with its principal banks, the new financing concept has now been finalised.
Jan Andersson, ReadSoft’s President and CEO concluded in his presentation that the market for 2009 has been difficult and that many customers have been biding their time due to the financial crisis.
