Southern Africa

Commenting on the results, Sappi Chief Executive Officer Steve Binnie said: “I am very satisfied with our performance for this quarter as reflected by increased sales, EBITDA and net profit. I’m particularly pleased that all regions were able to deliver higher sales volumes despite the short-term impact of the expansion and conversion projects. We faced higher raw material costs, in particular pulp, for our paper businesses but were able to increase selling prices to offset most of this impact. The acquisition of the Cham speciality paper business was completed during the quarter and the integration into Sappi is moving ahead smoothly.”

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From a single pulp and paper mill producing paper from straw in 1938, Sappi has evolved into a global provider of dissolving pulp, packaging and specialty papers, and graphic papers, as well as biomaterials and biochemicals.

Sappi Limited, a leading global producer of dissolving pulp, specialities and packaging papers, printing and writing papers and biomaterials, today announced that all conditions precedent relating to the acquisition of the speciality paper business of Cham Paper Group Holding AG (CPG) have been fulfilled and closing has been completed.

Commenting on the result, Sappi Chief Executive Officer Steve Binnie said: “Our performance for this quarter was in line with our expectations. We continue to work hard to mitigate increased input costs and the impact of a stronger Rand/Dollar exchange rate. We will begin to see the benefits of selling price increases during the rest of the financial year.”

Sappi Limited, the South African based leading global supplier of dissolving pulp (DP), speciality and packaging papers, printing (graphic) papers and biomaterials has confirmed plans and ongoing projects to significantly increase DP capacity by 2020.