The timing of the flotation, with shares expected to begin open trading on 15 October, means the government will already have sold a sizeable chunk of the Royal Mail before the earliest possible strike action (on 23 October). Business secretary Vince Cable announced the IPO this morning, with an expected price range of 260-330p per share giving an implied market capitalisation of £2.6-3.3bn, and said that he was “encouraged by the interest shown by potential investors so far”. Cable said: “Today is an important day in the life of Royal Mail: people can now apply to buy shares in this iconic British brand. This will give Royal Mail access to the private capital it needs to modernise, as envisaged under successive governments, and enshrined in law by Parliament two years ago.” The offer is open to institutional investors and members of the public, who can apply for a minimum allocation of £750 (or £500 for Royal Mail employees) through intermediaries, via the website www.gov.uk/royalmailshares, or by post. The government plans to hand 10% of Royal Mail’s shares to its 150,000 eligible, UK-based employees, while its own shareholding will drop to between 30-49.9% depending on the demand for shares from investors. Moya Greene, chief executive of Royal Mail, said:”Royal Mail has a unique place in the UK and that will not change as we move into the private sector. We will now be better able to compete in what is a fast changing and intensely competitive market. “I’m delighted our people will own a meaningful stake in the company and that the public now have the opportunity to own a share in our future as well.” However, CWU general secretary Billy Hayes criticised the timing of the move. “It seems remarkable that the prospectus is being issued on the same day that postal workers are being sent ballot papers for strike action,” he said. “Today’s announcement changes nothing in terms of the ballot which will go ahead as notified. Royal Mail is profitable and can continue to be successful in the public sector. The sale is driven by political dogma, not economic necessity, and postal workers and the CWU will continue to fight to save services as well as defend their terms and conditions.” According to the share offer, Royal Mail’s implied dividend yield for the year to 31 March 2014 would be approximately 6.1% to 7.7% on the basis of the expected offer price range and a notional full-year dividend of £200m (the amount Royal Mail believes would have been proposed if the company had been listed throughout the full year ending 31 March 2014)....

Modo Northern Light, which is manufactured at Metsä Board’s Husum mill in Sweden, is a lightweight, uncoated liner with high whiteness that can be used as a top liner, as fluting or as a reverse side liner. It is made from fresh forest fibres and is suitable for direct contact with sensitive products such as food, said the company, which is supplying the product via its base in Finland or UK sales office in Maidenhead. Vice president for sales of linerboards Risto Auero said: “It comes in all the standard sizes used in the corrugated industry as well as bespoke sizes. Prices will range from around €750 (£630) to €950 (£800) per tonne. Reel diameters are 1,250mm and widths to suit customer needs.” Modo Northern Light is available in weights from 80-160gsm and has a bright white shade, making it suitable for applications such as perfume, beautycare, healthcare and packaging for mobile devices. It also performs well in larger applications, such as online and mail-order packaging, according to Metsä Board. “This complements our Kemiart range of white top kraftliners by providing even more options for our customers,” added Auero. “Modo Northern Light helps meet demand for lighter-weight packaging and opens up exciting opportunities for combining a lighter l Tweet iner with fluting in innovative...

Modo Northern Light, which is manufactured at Metsä Board’s Husum mill in Sweden, is a lightweight, uncoated liner with high whiteness that can be used as a top liner, as fluting or as a reverse side liner. It is made from fresh forest fibres and is suitable for direct contact with sensitive products such as food, said the company, which is supplying the product via its base in Finland or UK sales office in Maidenhead. Vice president for sales of linerboards Risto Auero said: “It comes in all the standard sizes used in the corrugated industry as well as bespoke sizes. Prices will range from around €750 (£630) to €950 (£800) per tonne. Reel diameters are 1,250mm and widths to suit customer needs.” Modo Northern Light is available in weights from 80-160gsm and has a bright white shade, making it suitable for applications such as perfume, beautycare, healthcare and packaging for mobile devices. It also performs well in larger applications, such as online and mail-order packaging, according to Metsä Board. “This complements our Kemiart range of white top kraftliners by providing even more options for our customers,” added Auero. “Modo Northern Light helps meet demand for lighter-weight packaging and opens up exciting opportunities for combining a lighter l Tweet iner with fluting in innovative...

The Eclipse LF330 from Impression Technology Europe (ITE) was unveiled at the Brussels show this week. It uses a customised Summa cutting system to cut label shapes without the need for dies. The Nottinghamshire firm had already made a 220mm wide version of the system, but the new LF330 can handle web widths from 100-330mm and the wider width takes the solution into the mainstream label printing arena. It can be fitted with single or double cutting heads, with the twin-blade version running at up to 10.2m/min depending upon the complexity of the shape being cut. “The enquiries we’ve had about it at the show have been a little bit phenomenal!” said ITE managing director Roy Burton. “It’s exciting stuff. There’s nothing else like it.” Although the device has obvious appeal to digital label printers, ITE has also experienced a lot of interest from conventional label producers. “The trend to small volume printing means it’s becoming a must to have shorter-run production machines,” Burton added. The Eclipse LF330 can cut most label stocks as well as paper, vinyl and synthetic substrates. It has a lamination unit, waste matrix removal, slitting system and double reversible rewinds that can wind finished labels either inside or outside. The device costs £22,500 for a twin-head version. ITE was running a pre-production unit of the Eclipse LF330 on its Labelexpo stand (12T75) and is set to go into immediate production after the show. For more information visit www.impressiontechnologyeurope.com....

The Eclipse LF330 from Impression Technology Europe (ITE) was unveiled at the Brussels show this week. It uses a customised Summa cutting system to cut label shapes without the need for dies. The Nottinghamshire firm had already made a 220mm wide version of the system, but the new LF330 can handle web widths from 100-330mm and the wider width takes the solution into the mainstream label printing arena. It can be fitted with single or double cutting heads, with the twin-blade version running at up to 10.2m/min depending upon the complexity of the shape being cut. “The enquiries we’ve had about it at the show have been a little bit phenomenal!” said ITE managing director Roy Burton. “It’s exciting stuff. There’s nothing else like it.” Although the device has obvious appeal to digital label printers, ITE has also experienced a lot of interest from conventional label producers. “The trend to small volume printing means it’s becoming a must to have shorter-run production machines,” Burton added. The Eclipse LF330 can cut most label stocks as well as paper, vinyl and synthetic substrates. It has a lamination unit, waste matrix removal, slitting system and double reversible rewinds that can wind finished labels either inside or outside. The device costs £22,500 for a twin-head version. ITE was running a pre-production unit of the Eclipse LF330 on its Labelexpo stand (12T75) and is set to go into immediate production after the show. For more information visit www.impressiontechnologyeurope.com....