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Sappi concludes sale of Enstra Mill; invests in Stanger Mill
Sappi Limited
(Incorporated in the Republic of South Africa)
Registration number: 1936/008963/06
JSE share code: SAP
ISIN code: ZAE000006284
("Sappi" or the "company")
Media Release
Sappi concludes sale of Enstra Mill; invests in Stanger Mill
With reference to the announcement made on 02 July 2015 regarding the sale of Sappi’s
Enstra Mill near Johannesburg, Sappi wishes to confirm that all conditions have been met
and that the mill has been transferred today, 02 November 2015, to the new owners,
Corruseal. The sale is not categorisable in terms of section 9.5 of the JSE Listings
Requirements.
The agreement with Corruseal regarding Enstra Mill includes the recycled containerboard
and kraft papers business produced on PM6, as well as the fine paper and security paper
portfolio produced on PM2.
With the sale of Enstra Mill, the production of Sappi’s much loved Typek copy paper has
moved to Sappi Stanger Mill in KwaZulu-Natal. Sappi has invested and committed in 2015
and 2016 capital upgrades to secure Stanger Mill as a worldclass office and tissue paper
producer. The first phase of this project has been successfully completed through an
investment of approximately R30 million in upgrading various aspects of the paper machine
to ensure that the paper quality meets the high standard required in today’s demanding
markets.
During the next five months, Sappi will invest a further R70 million at Stanger Mill in our
sheeting and finishing operations with a focus on speed, increasing the throughput of our
finished A4 products, as well as improving the packaging quality of our products to further
benefit our customers.
These investments in office paper at Stanger will bring the following benefits:
- Paper bulk and stiffness improvement for better runnability in printers and copiers as it
contains sugar cane bagasse pulp
- Smoother surface for excellent print quality
- Finishing house upgrade for higher throughputs, packaging quality improvements, and
- Supply chain optimisation for higher product availability and better service levels.
Sappi expects to close the sale of its Cape Kraft Mill to New Era Holdings before the end of
November 2015. The sale of the Cape Kraft and Enstra Mills is in line with Sappi Southern
Africa’s strategy to unlock value in line with the Sappi Limited strategy which aims to reduce
debt, strengthen its balance sheet and direct resources to high-growth opportunities.
Page 2 of 2
The proceeds from the two sales will amount to just under R600m.
For further information Issued by
André F Oberholzer Brunswick
Group Head Corporate Affairs on behalf of Sappi Limited
Sappi Limited Tel + 27 (0) 11 502 7300
Tel +27 (0)11 407 8044
Mobile +27 (0)83 235 2973
Andre.oberholzer@sappi.com
Elijah Masondo
Corporate Communications Manager
Sappi SA
Tel + 27 (0)11 407 8478
Elijah.Masondo@sappi.com
02 November 2015
Sponsor: UBS South Africa (Pty) Ltd
ENDS
NOTE TO EDITORS:
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 160 countries
around the world. Headquartered in Johannesburg, South Africa, with over 13,000
employees and manufacturing operations on three continents in seven countries and group
sales of US$6 billion. Learn more about Sappi at www.sappi.com.
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