|
|
Enron Mail |
<HTML<
<HEAD< <TITLE<PULP, WRITING & PRINTING PAPER 11/27/2001</TITLE< <base href="http://www.forestweb.com"< </HEAD< <BODY TOPMARGIN="0" LEFTMARGIN="20" MARGINHEIGHT="0" MARGINWIDTH="0" BGCOLOR="#ffffff"< <a name=top<</a<<img src="http://www.forestweb.com/digest/images/news/corps/197.gif"< <h4<PULP, WRITING & PRINTING PAPER 11/27/2001</h4<<br clear=all< <DIV align=center< <p<<table width="100%" border="3" cellspacing="0" cellpadding="10"< <tr< <td< <p<<b<<font face="Arial, Helvetica, sans-serif" size="-1" color="#000033"<Welcome</font<</b<<font face="Arial, Helvetica, sans-serif" size="-1"< to Enron's Pulp, Writing & Printing Paper News Service. This daily mailing brings the most recent news headlines right to your inbox. You may also receive this daily service specific to the following areas: 1) Recovered, Container & Packaging; 2) Newsprint; 3) Lumber. To join any of these lists, <a href="http://www.forestweb.com/fwsnippets/mailinglists/enron_lists.html"< CLICK HERE</a<.</font<</p< <p<<font face="Arial, Helvetica, sans-serif" size="-1"<If you have any comments or feedback, simply reply to this email. If you would like to unsubscribe to the Pulp, Writing & Printing Paper News service, please scroll to the bottom of this email for instruction.</font<</p< <p<<font face="Arial, Helvetica, sans-serif" size="-1"<Thanks and enjoy.</font<</p< </td< </tr< </table< </p< </DIV< <h4<Contents</h4< <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"< <TR VALIGN=TOP< <TD< <OL< <li< Dominion Bond: Canfor profits pressured by political, economic factors ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2133&_UserReference=0F91F2936ED2981D3C03C3EE#story15576"<More</a<...)</li< <li< Fate of Enron's Forest Products Group up in the air -- Industrialinfo.com ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2133&_UserReference=0F91F2936ED2981D3C03C3EE#story15584"<More</a<...)</li< <li< Hollinger Canadian Newspapers 3Q net income more than doubles y.o.y. ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2133&_UserReference=0F91F2936ED2981D3C03C3EE#story15585"<More</a<...)</li< <li< Forestweb's prices to be listed on Bloomberg Professional service ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2133&_UserReference=0F91F2936ED2981D3C03C3EE#story15587"<More</a<...)</li< <li< Phoenix Group acquisition of BCT International approved by BCT board ( <A href="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2133&_UserReference=0F91F2936ED2981D3C03C3EE#story15589"<More</a<...)</li< </OL< </TD< </TR< </TABLE< <p<<a name="story15576"<</a< <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"< <TR VALIGN=TOP ALIGN=LEFT< <TD< <h3<Dominion Bond: Canfor profits pressured by political, economic factors</H3< <i<11/26/2001 17:21:42, Press Release</i< <br<<br<</TD< </TR< <TR VALIGN=TOP ALIGN=LEFT< <TD< Dominion Bond Rating Service <p< TORONTO, Nov. 26, 2001 (press release) -- Canfor Corporation ("Canfor" or "the Company") became the largest kraft market pulp and softwood lumber producer i...<br< (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15576&_UserReference=0F91F2936ED2981D3C03C3EE"<Story...</a<) </TD<</TR< <TR VALIGN=TOP ALIGN=RIGHT<<TD ALIGN=RIGHT< </TD<</TR< <TR VALIGN=TOP ALIGN=RIGHT<<TD ALIGN=RIGHT<<A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2133&_UserReference=0F91F2936ED2981D3C03C3EE#top"<<IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"<</A< </TD<</TR< </TABLE< <HR< <p<<a name="story15584"<</a< <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"< <TR VALIGN=TOP ALIGN=LEFT< <TD< <h3<Fate of Enron's Forest Products Group up in the air -- Industrialinfo.com</H3< <i<11/27/2001 05:39:39, BW</i< <br<<br<</TD< </TR< <TR VALIGN=TOP ALIGN=LEFT< <TD< HOUSTON, Nov. 27, 2001 (Business Wire/press release) --The following is an advisory by Industrialinfo.com (Industrial Information Resources Inc; Houston)<p< Energy giant Enron Corporation (NYSE:EN...<br< (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15584&_UserReference=0F91F2936ED2981D3C03C3EE"<Story...</a<) </TD<</TR< <TR VALIGN=TOP ALIGN=RIGHT<<TD ALIGN=RIGHT< </TD<</TR< <TR VALIGN=TOP ALIGN=RIGHT<<TD ALIGN=RIGHT<<A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2133&_UserReference=0F91F2936ED2981D3C03C3EE#top"<<IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"<</A< </TD<</TR< </TABLE< <HR< <p<<a name="story15585"<</a< <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"< <TR VALIGN=TOP ALIGN=LEFT< <TD< <h3<Hollinger Canadian Newspapers 3Q net income more than doubles y.o.y.</H3< <i<11/27/2001 05:42:58, BW</i< <br<<br<</TD< </TR< <TR VALIGN=TOP ALIGN=LEFT< <TD< TORONTO, Nov. 26, 2001(Business Wire/press release) -- Hollinger Canadian Newspapers, L.P. (TSE:HCN.UN.) announces net income including special items for the quarter ending September 30, 2001 of $51,415,000 or $0.28 per unit compared to $22,567,000 or $0.14 per unit for the quarter ended September 30, 2000. <BR< For the nine months ended September 30, 2001 the net income was $167,603,000 or $0.92 per unit compared to $75,550,000 or $0.47 per unit for the nine months ended September 30, 2000.<BR< Income before special items and income taxes in both the third quarter and nine months ended September 30, 2001 was significantly lower than in 2000, primarily as a result of the disposition of properties to CanWest Global Communications Corp. ("CanWest") in November 2000, the sale of UniMedia Company in January 2001, the sale of the majority of the Ontario properties in July 2001 as well as lower operating results at the Partnership's remaining operations, offset in part, by lower interest expense as a result of the conversion of the acquisition notes to units in November of 2000 and interest income primarily related to the CanWest debentures received in November of 2000.<BR< In the first nine months of 2001 special items totalled $117,777,000 and included gains arising mainly from the sale of UniMedia Company in January 2001 and the sale of the majority of the remaining Ontario community newspapers in July 2001. In the first nine months of 2000, special items totalled a loss of $1,672,000 and principally represented severance charges. <BR< <BR< Same Store Analysis<BR< <BR< On a same store basis, including only those newspapers which were owned for the nine-month period in each year, total revenue was $77,421,000 in 2001 compared to $81,982,000 in 2000, a decrease of $4,561,000 or 5.6%. EBITDA for 2001 was $8,581,000 compared to $10,756,000 for 2000, a decrease of $2,175,000 or 20.2%.<BR< <BR< Investment and Other Income<BR< <BR< For the nine months ending September 30, 2001, investment and other income includes a cash dividend of $1,225,000 on 8,164,000 CanWest non-voting shares, interest on cash balances of approximately $3,300,000, interest income of $23,958,000 accrued on the subordinated debentures the Partnership received as partial consideration from the sale of newspapers to CanWest in November 2000 and other interest income of $2,272,000. This debenture interest is payable at the option of CanWest either in cash, by the issue of additional debentures or by the issue of CanWest shares. The total principal amount of debentures (as adjusted, if required) is due on November 15, 2010. The principal amount of these debentures was $239,861,000 as at December 31, 2000. On February 28, 2001 and July 31, 2001, a CanWest subsidiary issued additional debentures with a total principal amount of $20,983,000 to the Partnership. These debentures represent the arrears interest owing from November 16, 2000 to July 31, 2001 calculated at 12.125% per annum, of which $17,473,000 relates to the current year. As a result, the principal amount of all CanWest debentures held at September 30, 2001 is $260,844,000.<BR< <BR< Financial Condition and Liquidity<BR< <BR< Working capital consists of current assets less current liabilities. At September 30, 2001, working capital was $28,398,000 compared to $43,473,000 at December 31, 2000. The $15,075,000 reduction in working capital results from lower cash balances on hand at September 30, 2001 primarily due to cash distributions in excess of cash inflows during the period.<BR< Long-term debt, including the current portion was $100,000 at September 30, 2001 compared with $1,237,000 at December 31, 2000.<BR< Cash flows provided by operating activities were $22,783,000 in the nine months ended September 30, 2001 compared with cash flows provided by operating activities of $98,981,000 in 2000. The reduction in cash flows provided by operating activities compared to 2000 results primarily from the sales of the Unimedia and Ontario newspaper properties and lower operating results at the Partnership's remaining operations.<BR< Cash flows used in financing activities were $375,062,000 for the nine months ended September 2001 as compared to $107,953,000 for 2000. The cash flows used in financing activities included cash distributions of $374,968,000 in 2001 as compared to $107,424,000 in 2000.<BR< Cash flows provided by investing activities were $340,143,000 for the nine months ended September 30, 2001 as compared to cash flow used in investing activities of $7,963,000 in 2000. The increase in cash flows provided by investing activities results primarily from the proceeds on sale of the Unimedia and Ontario papers in January and July of 2001. <BR< <BR< Distributions<BR< <BR< During the year, the Partnership has paid two special distributions of $0.70 in March of 2001 and $1.18 in August of 2001 using the proceeds from the sale of properties during the year.<BR< <BR< General<BR< <BR< In September 2001, the Partnership, Hollinger International Inc. and Hollinger Inc. announced that the Partnership had constituted a committee of independent directors to explore with Hollinger the possibility of an offer to purchase the units of the Partnership not held by Hollinger, being approximately 24 million units. The structure and terms of any such offer (including the form of consideration to be offered) have not been proposed and there can be no assurance that any offer will be made.<BR< <BR< Properties Owned<BR< <BR< Attached to this report is a list of the principal operating divisions owned by the Partnership at the current time.<BR< <BR< ...<br< (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15585&_UserReference=0F91F2936ED2981D3C03C3EE"<Story...</a<) </TD<</TR< <TR VALIGN=TOP ALIGN=RIGHT<<TD ALIGN=RIGHT< </TD<</TR< <TR VALIGN=TOP ALIGN=RIGHT<<TD ALIGN=RIGHT<<A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2133&_UserReference=0F91F2936ED2981D3C03C3EE#top"<<IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"<</A< </TD<</TR< </TABLE< <HR< <p<<a name="story15587"<</a< <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"< <TR VALIGN=TOP ALIGN=LEFT< <TD< <h3<Forestweb's prices to be listed on Bloomberg Professional service</H3< <i<11/27/2001 07:34:46, PRNewswire</i< <br<<br<</TD< </TR< <TR VALIGN=TOP ALIGN=LEFT< <TD< LOS ANGELES, Nov. 27, 2001 (press release) -- Forestweb, Inc. will be providing its pricing for market pulp, publication grade papers, stumpage, and logs to users of the Bloomberg Professional service....<br< (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15587&_UserReference=0F91F2936ED2981D3C03C3EE"<Story...</a<) </TD<</TR< <TR VALIGN=TOP ALIGN=RIGHT<<TD ALIGN=RIGHT< </TD<</TR< <TR VALIGN=TOP ALIGN=RIGHT<<TD ALIGN=RIGHT<<A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2133&_UserReference=0F91F2936ED2981D3C03C3EE#top"<<IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"<</A< </TD<</TR< </TABLE< <HR< <p<<a name="story15589"<</a< <TABLE WIDTH="600" BORDER="0" CELLPADDING="0" CELLSPACING="0"< <TR VALIGN=TOP ALIGN=LEFT< <TD< <h3<Phoenix Group acquisition of BCT International approved by BCT board</H3< <i<11/27/2001 07:44:25, BW</i< <br<<br<</TD< </TR< <TR VALIGN=TOP ALIGN=LEFT< <TD< FORT LAUDERDALE, Fla., Nov. 27, 2001 (Business Wire/press release)--BCT International, Inc. (OTCBB:BCTI - news), announced today that on November 26, 2001 its Board of Directors approved a definitive merger agreement pursuant to which the Company will be acquired by Phoenix Group of Florida, Inc. ("Phoenix") which is owned by William A. Wilkerson, the Company's Chairman and Chief Executive Officer. Phoenix, together with its affiliates, including Mr. Wilkerson (the "Acquisition Group"), owns approximately 52.6% of the Company's issued and outstanding common stock. Under the merger agreement each stockholder, other than the members of the Acquisition Group, will receive in cash $1.13 per share of common stock owned. ...<br< (<A HREF="/digest/news.control.taf?_section=liststories&_function=detail&FORESTWEBNEWS_uid1=15589&_UserReference=0F91F2936ED2981D3C03C3EE"<Story...</a<) </TD<</TR< <TR VALIGN=TOP ALIGN=RIGHT<<TD ALIGN=RIGHT< </TD<</TR< <TR VALIGN=TOP ALIGN=RIGHT<<TD ALIGN=RIGHT<<A HREF="/digest/news.control.taf?_section=view&_function=detail&EDITION_ID=2133&_UserReference=0F91F2936ED2981D3C03C3EE#top"<<IMG SRC="http://www.forestweb.com/digest/images/news/top.gif" align=right WIDTH="56" HEIGHT="12" BORDER="0" ALT="top of page"<</A< </TD<</TR< </TABLE< <HR< <br clear=all< <DIV align=center< <p<<table width="100%" border="3" cellspacing="0" cellpadding="10"< <tr< <td<<font face="Arial, Helvetica, sans-serif" size="-1"<To unsubscribe from the Pulp, Writing & Printing Paper News, click on <a href="mailto:requests@forestweb.net?subject=unsubscribe%20enronpulp"<UNSUBSCRIBE</a< and simply send the corresponding email. </font<</td< </tr< </table< </p< </DIV< <br clear=all< <DIV align=center< <h5 <All news reports are copyrighted by the respective authors.<BR< powered by Forestweb</h5< </DIV< </BODY< </HTML<
|
