JOHANNESBURG, June 17, 2014 /PRNewswire/ -- With reference to
the announcement made on 30 September
2013 about the future of the Sappi Nijmegen Mill, Sappi
wishes to confirm that it has reached an agreement to dispose of
the mill to an affiliate of American Industrial Acquisition
Corporation ("AIAC"). The new name of the Sappi Nijmegen Mill
is Innovio Papers. It will manufacture specialty paper and
will no longer be engaged in the coated graphic paper business. A
transfer plan is being arranged with current graphic paper
customers. The transaction is effective as of 16 June 2014. The disposal is not categorisable
in terms of section 9.5 of the JSE Listings Requirements.
NOTE TO EDITORS:
Based in New York, NY, AIAC is a group of sixty
manufacturing sites with over 9,500 employees in eighteen countries
in North America, Europe, Africa, and Asia. Total annual revenues are in excess of
US$1.5 billion. AIAC has
purchased units of Boeing, Siemens, Northrop Grumman, Lockheed
Martin, United Technologies, Ingersoll-Rand, Johnson Controls,
Ahlstrom, Novelis, Kodak, Jabil Circuit, and other large public
corporations.
Sappi Limited (JSE: SAP), is a global company focused on
dissolving wood pulp, paper pulp and paper-based solutions to our
direct and indirect customer base in over 100 countries around the
world. Headquartered in Johannesburg,
South Africa, with over 14,000 employees and manufacturing
operations on three continents in seven countries, sales offices in
50 countries, and group sales of US$6
billion. Learn more about Sappi at www.sappi.com.
For further information:
Andre F Oberholzer
Group Head Corporate Affairs
Sappi Limited
Tel +27 (0)11 407 8044
Mobile +27 (0)83 235 2973
Andre.oberholzer@sappi.com
Sophie de Guignard
Acting Corporate Communications Manager
Sappi Europe SA
Tel +3226769735
Mobile +33 6 0725 1414
Sophie.deGuignard@sappi.com
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SOURCE Sappi Limited