Pulp & Paper News

Sappi sells Nijmegen CWF paper mill to affiliate of American Industrial Acquisition Corporation; mill to produce specialty paper

JOHANNESBURG, South Africa , June 17, 2014 (Press Release) - 

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.

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