Paper

Mitsubishi HiTec Paper is increasing its paper prices by 8% - for all products.

GF Smith has acquired the Naturalis fine uncoated papers brand from the administrators of Tullis Russell.

Two new surveys by paper pressure group Two Sides have revealed that consumers much prefer print to electronic media when reading news, magazine content, complicated information and bills.

Paperlinx has announced it will not pay a distribution on its step-up preference securities (PSPS) for the six months to 30 June.

Paperlinx has completed the sale of its Irish operations, which will now be renamed Graphic & Paper Merchants Ireland.

Speculation is mounting over the future for Tullis Russell’s valuable brands, as it emerged that the failed papermaker was owed more than £1m by Paperlinx when the merchant went into administration.

Paperlinx UK owed creditors almost £53m, had a pension deficit of £180m, and owed HMRC nearly £10m in VAT at the time it was placed into administration.

Administration and professional fees of almost £3m were racked up in the first six weeks of the hugely complex administration process surrounding Paperlinx UK.

Paperlinx’s Irish business is being sold to its management team, while its Scandinavian operations have been sold to Antalis International.

Middleton Paper has gone on a recruitment drive, adding four former Paperlinx employees to its team to cope with growing demand following the demise of the giant merchant.

Two European papermakers have announced plans to implement further price rises over the summer.

Fresh De La Rue boss Martin Sutherland has described polymer as “the substrate of the future” as the firm revealed year-end results that were in line with its downgraded expectations.