Boise Inc. (NYSE: BZ) announced today that Robert M. McNutt will resign his position as senior vice president and chief financial officer effective December 31, 2010, to pursue another employment opportunity. The company has named Samuel K. Cotterell as senior vice president and chief financial officer, effective January 1, 2011.
End 2011 Jordan Press’ biggest circulation national Arabian newspaper ‘Al Rai’ will start a fully Q.I. Press Controls equipped hybrid KBA Commander pressline in Amman. Q.I. Press Controls proudly confirms that due to Jordan Press Foundation’s high quality demands for newspapers and semi-commercials printing, Q.I. Press Controls’ intelligent solutions are favoured for the new pressline.
Current overcapacity in European coated papers market at 1.2 million tonnes Western European demand for coated papers has matured and the post recession rebound in demand is over. According to RISI’s new European Coated Papers Risk of Closure Study, overcapacity of both coated woodfree and coated mechanical papers has reached 1.2 million tonnes, lowering prices and affecting producer profitability in Europe.
Huntsman Corporation (NYSE: HUN) today announced that it gave notice to redeem $100 million of its 7 3/8% senior subordinated notes due 2015 pursuant to the terms of the indenture. The redemption is expected to be completed in January 2011.
Over the last few weeks a number of ink manufacturers have had inbound supply issues related to Phenolic Resins. Whilst the rest of the market has been impacted by the supply shortages from Hexion, Flint Group, through its own sourcing capability in China as well as working effectively with its partners, has successfully resolved the immediate supply difficulties.
Celanese Corporation (NYSE: CE), a global technology and specialty materials company, and its Ticona engineering polymers business, today announced a global price increase of 18 percent on all GUR ultra-high molecular weight polyethylene (UHMW-PE) and GHR very high molecular weight polyethylene (VHMW-PE) products effective with all shipments beginning on February 1, 2011, or as contracts allow.
At yesterday’s meeting in Vienna, the Borealis Supervisory Board approved a EUR 17 million investment to upgrade one of its polyethylene plants in Porvoo, Finland. The project includes a new ethylene compressor as well as an upgrade of the monomer purification including all necessary auxiliary equipment. Mechanical completion is expected for autumn 2012.
