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Impact of civil unrest in South Africa on SAPPI's South African operations
Sappi Southern Africa Limited
(Incorporated in the Republic of South Africa)
Registration number: 1951/003180/06
Alpha code: SSAI
("Sappi Southern Africa" or the "Company")
IMPACT OF CIVIL UNREST IN SOUTH AFRICA ON SAPPI’S SOUTH AFRICAN
OPERATIONS
Bondholders are referred to the following announcement released on SENS by Sappi Limited
(“Sappi”), being the holding company of Sappi Southern Africa.
“The unfortunate incidents of civil unrest, violence and criminal activity which are being widely
reported through news channels are also impacting Sappi’s South African operations. Our
primary concern is for the safety of our staff and contractors. Therefore, and as a precaution
due to transport disruptions impacting raw material supplies, warehousing and customer
deliveries, the Sappi Saiccor, Tugela and Stanger Mills in KwaZulu-Natal temporarily ceased
production as of Monday 12 July. They will resume once it is safe and practical to do so. Work
on the nearly completed Saiccor expansion and upgrade project was suspended as of Friday
9 July. Sappi’s forestry operations are being reviewed on a daily basis. There has been no
material damage to any of the plants. Insurance is in place for all assets. Global shipments to
customers through the Port of Durban have also been impacted due to limitations in service,
logistics and closure of warehouse service providers.
“Sappi is deeply saddened by the events unfolding in South Africa and our condolences go out
to the families of those in various communities who have lost loved ones. We deplore the
criminal behaviour we are confronted with, which cannot be justified or excused. We have
joined organised business in calling on the government to restore law and order”, said Steve
Binnie Chief Executive Officer of Sappi Limited.
Sappi will update bondholders once there is any material change in the situation.”
14 July 2021
Debt sponsor: Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 14-07-2021 04:20:00
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