The board of directors ("the board") of Sappi Limited is pleased to have announced today that Steve Binnie, currently the Chief Financial Officer "CFO" of the company, will succeed Ralph Boëttger as CEO on 01 July 2014.
The group returned to positive earnings in the quarter with an EBITDA excluding special items of US$147 million, an operating profit excluding special items of US$60 million and a profit for the period of US$18 million.
It is with deep regret that the board of directors ("the board") of Sappi Limited today announced that the CEO of the company, Ralph Boëttger, will be relinquishing his position as CEO and director on 30 June 2014.
Sappi Fine Paper Europe has confirmed investment plans over the next three years amounting to approximately €120 million for its two leading coated graphic paper mills which will significantly reduce the cost base and improve the profitability of these two worldclass mills.
2013 was an important transitional year for Sappi with the commissioning of major capital projects and further repositioning of the business. Our strategy to reposition Sappi for growth, higher margins and improved profitability is on track.
It's official. After $170 million in expenditures and a sparse one-year construction period, Sappi Fine Paper's capital conversion project -- dubbed "Project Athena" after the patroness of weaving -- was officially declared fully functioning and on budget this week
Project Athena: Sappi celebrates completion of capital conversion project