Sappi sells Nijmegen mill

17th June 2014

By: Leandi Kolver

Creamer Media Deputy Editor

  

Font size: - +

Paper and packaging group Sappi has sold its Nijmegen mill, in the Netherlands, to an affiliate of American Industrial Acquisition Corporation.

In September last year, the group announced that it had generated a loss in its European activities as a result of the continued market decline and consequent overcapacity in the European coated paper markets, combined with high raw material costs not compensated for by higher selling prices.

It had, therefore, decided to concentrate its production at fewer sites.

Exhaustive analysis had indicated that the preferred option would be to relocate the entire production of Nijmegen mill to other Sappi mills in Europe, to optimise the group’s entire Heat Set Web Offset business.

The disposal of Nijmegen became effective June 16, with the mill now called Innovio Papers.

Following the disposal, the mill would now manufacture speciality paper and would no longer be engaged in the coated graphic paper business, Sappi said in a statement, adding that a transfer plan had been arranged with the mill’s current graphic paper customers.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION