“Following a year in which various actions and strategies were initiated, primarily involving extensive restructuring charges and asset impairments, the group achieved a profit for the period of US$45 million (Q1 2011 US$37 million) and EPS of 9 US cents (Q1 2011 7 US cents) in the first quarter of the 2012 financial year.
Today Sappi Fine Paper North America announced that Rick Dwyer and Mike Haws have been appointed as the new managing directors of the Cloquet Mill in Cloquet, Minn. and Somerset Mill in Skowhegan, Maine
Sappi Limited, the global pulp and paper group, today announced that Mark Thompson, the current Chief Financial Officer, will retire from Sappi in August 2012 having reached the mandatory retirement age of 60.
Sappi continued its improving trend in operating performance for 2011. Sales for the year increased 11%, almost entirely as a result of higher prices in US Dollar terms. Operating profit excluding special items was US$404 million for the year, up 19% compared to 2010.
Today Sappi Fine Paper North America announced that Melching, Inc. has purchased the Muskegon Mill site, a former pulp mill, paper mill, and converting facility in Muskegon, Michigan
Operating profit for the quarter was impacted as expected by planned annual maintenance shuts at a number of our major pulp mills and seasonal factors. In addition, weaker than expected demand for coated woodfree paper in Europe resulting from continuing uncertainty in economic conditions unfavourably affected operating profit
Sappi Southern Africa has today announced it will shut down its Adamas paper mill in Port Elizabeth, South Africa. The permanent closure of the mill is expected to be finalised at the end of August.