Us based international hellip mumbai: having whetted its appetite, the us based international paper, which last year acquired andhra paper mills for about $425 million about 1,900 crore then , is now in talks to buy the sk bangur controlled west coast paper for a deal likely to be valued between 800 crore and 1,200 crore. An initial round of negotiations between the memphis based international paper and west coast paper was held recently where valuations and future expansion plans for the plant located in dandelli, karnataka, were discussed. The $26 billion international paper wants to build a strong presence in the indian paper market, which is considered to be one of the world's fastest growing regions for writing and printing paper. International paper is a leading player in the paper and packaging industry with manufacturing plants in north america, europe, latin america, asia and north africa. Slowing demand for paper in europe and north america has pushed paper makers like international paper to explore opportunities in asia.

In an emailed response to queries from et, international paper said: as a policy, international paper doesn't comment on rumours or market speculation. Although west coast did not reply to queries from et, a company official said there were no immediate plans by west coast paper to divest stake. However, the buzz in the market place of an impending transaction between international paper and west coast paper has rocketed the share price of the indian paper maker, which surged to a record 35 per cent in one month and ended on wednesday at 70.90 a share. The west coast stock has hit the upper circuit limit for the past two consecutive days. Buying of significant equity stakes in indian companies has become relatively easier as new capital market norms allow a company to acquire up to 25 per cent in another company without breaching the takeover threshold. Earlier, sebi norms had a ceiling of 15 per cent, above which an open offer to retail shareholders was mandatory. While the market capitalisation of west coast paper is currently at 4 crore, valuations of indian paper companies have been re rated after international paper in 2011 paid a 205 per cent premium for the promoters' stake in ap paper.

The bangur family owns about 55 per cent in west coast paper, india's second largest by capacity and one of the leading makers of writing and printing paper. It posted a loss of 33.56 crore mainly due to the sharp increase in costs, mainly coal which had risen 18 per cent. в interestingly, west coast had been planning to sell stakes in subsidiary rama newsprint as falling prices and cheaper imports had made operations at rama unviable. Prospects of the indian paper industry have been improving recently due to a better supply demand equation mainly as there have not been any major capacity additions in the past three years. Rohan gupta, an analyst at emkay global, said that with buoyant demand and supply side constraint, paper prices are likely to increase which will facilitate margin expansion going forward. In a recent media interaction, andhra paper india md rampraveen swaminathan had said that the long term outlook for the paper industry in india are bright as the per capita consumption of paper was still very low.

India had nearly 15 per cent of the global population, but currently consumes only about 2 per cent of the world's paper output, he added. Mumbai: shares of west coast paper were back on traders' radar on monday on speculation that the company may announce a deal with international paper in the next two weeks. According to buzz on the street, international paper may buy promoters' stake in the company for rs 560 per share which will be followed by an open offer.

According to analysts, other paper companies also moved higher on hopes of re rating of the sector post the deal. There are also media reports that rama newsprint paper in which west coast holds over 36 per cent stake may be up for sale as it is incurring losses since 2008 09. As construction crews 5,0 miles away are working to widen the panama canal to allow much larger ships to sail straight to the east coast, this historic port city and others along the west coast are doing everything they can to avoid becoming superfluous. The port of tacoma is determined to keep up its rich import business, which can be traced to the 1880s when chests of tea from asia arrived at its docks and headed to the east coast by rail. Port officials know that by the time the panama canal opens in 2016, an even newer, larger fleet of cargo ships will be plying the oceans and will be so big they will not be able to squeeze through even the wider channel.

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So tacoma, seattle and other ports are spending billions to be ready to receive the ships and keep themselves competitive in the overall scramble for foreign trade. The ships continue to get bigger, the cranes need to get bigger, and the docks need to be able to handle them, said trevor thornsley, senior project manager for the port of tacoma, as he stood along the jagged rebar and broken concrete of a $22 million renovation to shore up the port’s pier 3. Credit matthew ryan williams for the new york times the work in tacoma, a major port in this state that likes to call itself the most trade dependent in the nation, is among dozens of projects being completed in port cities across the united states in response to major changes in the world of container imports from asia. Everybody in the supply chain from the manufacturer to the end consumer that entire supply chain is changing, said tay yoshitani, chief executive of the port of seattle.

Traditionally, america’s west coast ports have been the gateway to the rest of the country for the growing supply of goods from china and hong kong. The ports in tacoma, seattle, oakland, los angeles, long beach and elsewhere offer much shorter sailing times than gulf coast and east coast ports. But for shippers of some goods, the web of logistics, including trucks and railroads, ends up being less expensive if they go through the panama canal. Even though the west coast ports are viewing the project to widen the panama canal as a major threat, it may not be their biggest challenge, said john martin, who works as an economic consultant for several ports. Most imminently, officials at the west coast ports are concerned about negotiations underway for a union contract, which expires on tuesday and affects nearly 20,0 dockworkers at 29 ports. In 2002, during contract negotiations, talks broke down and resulted in a bitter battle that shut down shipping along the west coast for 10 days and sent cargo ships to other ports of call, some of them permanently. Craig merrilees, a spokesman for the international longshore and warehouse union, said that contract talks were positive and on track.

John wolfe, the chief executive of the port of tacoma, said that while port officials did not have a role in the talks, he, too, was optimistic. Los angeles seeking an end to a protracted labor dispute that has led to costly delays in west coast shipping, president obama has decided to intervene, the white house announced on saturday. Perez, the secretary of labor, will travel to california to meet with the parties to urge them to resolve their dispute quickly at the bargaining table, according to a statement issued by eric schultz, a white house spokesman. Perez will try to mediate a settlement between an association of the major shipowners of the west coast and the union of longshoremen who unload those ships, which collectively bring in half the nation’s imported cargo. The white house statement said the president was acting out of concern for the economic consequences of further delay and added, secretary perez is already in contact with the parties and will keep the president fully updated.

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Glaeser is an economics professor at harvard. is this recession easing up or slouching toward 1929? it depends on where you live. Last week, the bureau of labor statistics released its local unemployment statistics. In some places, like new york, unemployment rates have started to fall, albeit slightly. Will a national stimulus plan be well suited to address a mosaic of local economies.

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Some of which are already headed to recovery while others head toward collapse? before i delve into the local numbers, some caveats are necessary. Month to month numbers come with a lot of error, and the bureau doesn’t seasonally adjust these figures. Still, there seems to be enough of a pattern in the figures to at least begin thinking about what they mean. Between february and march, the unemployment rate fell in massachusetts, rhode island, connecticut, new york, new jersey, maryland, the district of columbia, north carolina, south carolina and georgia.