Important news from Jayna

UPDATE 1-Finland's M-real to close paper mill in France

Tue, 18 Oct 2011 08:33:18 -0400

* To close unprofitable paper ops at Gohrsmuehle, GermanyHELSINKI, Oct 18 (Reuters) - Finnish forest group M-real said it will close its mill in France and shut down some unprofitable paper production in Germany as it looks to boost profitability and shift its focus to packaging board production.M-real failed to find a buyer for the Alizay mill in northern France and part of the Gohrsmuehle mill in north-west Germany.”In this very challenging operating environment that the European paper industry faces, it is not possible to turn the heavily loss-making mill profitable,” the firm said in a statement.”Nor are there any signs of such a turning point in the paper market that would change the situation.”M-real said it was considering setting up a new customer service and logistics center for boxboard in Gohrsmuehle.The Alizay mill employs about 330 people.European paper makers have for years been struggling with decreasing paper demand and overcapacity.

UPDATE 1-Finland's M-real to close paper mill in France

Tue, 18 Oct 2011 08:33:07 -0400

Peabody says China clears $4.7 billion Macarthur takeover bid

Thu, 13 Oct 2011 05:01:01 -0400

Chinese regulatory approval was required because China is a major customer of pulverized coal injection (PCI) metallurgical coal and Macarthur controls a substantial slice of that market.”This action from MOFCOM now clears the way for us to complete this transaction in a timely manner,” said Peabody Energy Chairman and Chief Executive Gregory H. Boyce.Peabody and ArcelorMittal have extended their takeover bid to October 28.Macarthur has accepted a sweetened offer from Peabody and Arcelor after failing to find a rival bidder.PEAMCoal currently has a 22.7 percent stake in Macarthur.