News and Events

While global market conditions remained challenging, the quarter reflected encouraging progress in key strategic initiatives, particularly the continued ramp-up of the Somerset Mill PM2 paperboard machine in North America, ongoing cost reduction actions across the group and disciplined capital allocation.

Sappi, a global leader in woodfibre-based renewable resources, today announced that it has joined the ZDHC (Zero Discharge of Hazardous Chemicals) Roadmap to Zero Programme, reinforcing its commitment to responsible chemical management for its global dissolving wood pulp operations.

Sappi Limited (“Sappi”) and UPM-Kymmene Corporation (“UPM”) have today announced the signing of binding (definitive) agreements to form a non-listed, independent 50/50 Joint Venture for graphic paper.

Both companies would own a 50% share of the proposed new independent company through shareholding continuing to operate in current business segments and geographic locations.

Proposed Joint Venture would see creation of a standalone company able to combine complementary portfolios creating a financially stronger and more resilient company with a core focus on Graphic Papers.

Additionally, the Joint Venture will ensure reliable long-term European supply for the printing industry.

While headline earnings were impacted by an unprecedented “risk-off” global environment and a volatile Rand/US Dollar exchange rate, the group has significantly accelerated its focus on innovative business enhancements to ensure global competitiveness.

Platinum in a year of tougher EcoVadis standards reflects elevated performance across Sappi's operations

Commenting on the results for the period, group CEO Steve Binnie said: “Market conditions remained challenging during the quarter with ongoing macroeconomic pressures, subdued consumer confidence and overcapacity driving pricing declines across all product segments.”

As expectations rise for sustainability data to be credible, comparable and usable in real-world decisions, Sappi has been recognised by CDP for the quality and maturity of its environmental disclosures.

Sappi has expanded its range of functional packaging papers with a full set of heat-sealable solutions designed for converters, printers, and brand owners who want fibre-based alternatives to plastic.

The signing of a non-binding letter of intent to create a new 50/50 joint venture is set to start an exciting new chapter

Sappi Limited (“Sappi”) and UPM-Kymmene Corporation (“UPM”) have today announced the signing of a non-binding letter of intent to form a non-listed, independent 50/50 Joint Venture for graphic paper.

“Sappi’s immediate focus remains on internal levers within the company’s control,” says Sappi CEO Steve Binnie, adding: “Our ‘Back to Basics’ focus is to reduce debt and strengthening the balance sheet through targeted cost savings initiatives and operational efficiency improvements.”