Europe

Sappi invests in wet-strength label paper production capacities at its Gratkorn mill

Sappi Europe temporarily reduces capacity at its Carmignano Mill in Italy, due to the continuing and sharp escalation of energy costs.

Sappi’s International Revolving Credit Facility (RCF) of EUR 515 million benefits from the group’s newly developed Sustainable Financing Framework.

Commenting on the group’s results, Sappi Chief Executive Officer Steve Binnie said: “I am very proud of another quarter of record earnings against a backdrop of significant geopolitical turmoil, supply chain headwinds and extraordinary global inflationary pressures.”

Sappi Europe informs customers about ongoing challenges to cope with further increases of pulp, energy, chemicals and transportation costs. Sappi therefore announces further price increases up to 18% for its entire Speciality Paper Portfolio.

Due to continuing high cost and volatility in raw materials, energy and transportation Sappi Europe will increase its prices to its European customers by 8-10% on its range of Woodfree Coated and Uncoated papers, and Paperboard from 12 September.

Sappi is pleased to announce that the science-based carbon emission reduction target of 41.5% per ton of product has been approved by the Science Based Targets initiative (SBTi).