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Sappi Chief Executive Officer Steve Binnie, commenting on the group’s performance, said: “Our third quarter operating performance was in line with previous guidance with earnings (EBITDA ex special items) flat at US$155 million compared to a year ago. The third quarter is seasonally and historically our weakest quarter due to the slow-down in business activity during the Northern Hemisphere summer holiday period and Sappi’s choice to use this quarter to undertake major annual maintenance shuts. A strong performance by our European operations was offset by a number of once-off operational and production issues in our South African and North American businesses.”
Sappi Limited is pleased to announce its inclusion in the FTSE/JSE Responsible Investment Index Top 30 index
The investments include a R2,7 billion capacity expansion project and a planned R5 billion over five years in various continuous improvement initiatives and upgrade projects.
Sappi approves construction of demonstration plant for Xylitol & Furfural production in line with strategic biorefinery plans
Sappi announced today further progress in the development of its biorefinery capacity with the confirmation that it will construct a demonstration plant to further scale up its novel Xylex® technology for the production of Xylitol and Furfural.
Sappi Limited (JSE: SAP, OTC: SPPJY) will release its fourth quarter and full year results for the period to end September 2018 on Thursday, 15 November 2018 at 09:00 South African time.