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Forest Products News

York reports fourfold operating profit increase

By: Loni Prinsloo     8th September 2011 Forest products group York on Thursday reported a fourfold increase in operating profit to R169.9-million in its 2011 financial year, as it continued to improve its margins. However, after-tax profit fell to R38.3-million in the year ended June 30, compared with last year’s R64.6-million, after... 

Outlook for local fruit industry positive

By: Schalk Burger     5th August 2011 While South Africa has experienced a challenging season, over the medium- to long-term, the fruit industry has a positive outlook, says fruit producer organisation Hortgro Services product manager Jacques du Preez. 

Sappi says cogeneration a strong feature of cost reduction plan

By: Brindaveni Naidoo     4th August 2011 South African paper manufacturer Sappi is “aggressively” pursuing restructuring and cost reduction plans, with cogeneration featuring strongly, CEO Ralph Boëttger said on Thursday. The JSE-listed company, which posted a third-quarter loss, said high input costs remained a challenge. 

Sappi to close paper mill in Port Elizabeth

By: Brindaveni Naidoo     3rd August 2011 South African paper manufacturer Sappi said on Wednesday it would shut down its 47-year old Adamas mill, in Port Elizabeth, citing severe cost pressures and the uncompetitive nature of the mill. The closure would affect some 213 workers, the JSE-listed company said. 

Mondi to settle KZN land claims over the next two years, posts higher earnings

By: Brindaveni Naidoo     28th July 2011 Paper and packaging group Mondi aims to settle all its land restitution claims in KwaZulu-Natal over the next two years, with 33 claims still outstanding, CEO David Hathorn said on Thursday. “This will be done as funding becomes available from government,” he told Engineering News Online. 

Mondi expects big jump in half-year earnings

By: Loni Prinsloo     22nd July 2011 Johannesburg- and London-listed Mondi said on Friday that it expected a strong rise in profit and earnings for the first half of 2011. The paper and packaging group expected its half-year earnings a share to be between €0.38c a share and €0.43c a share, up from €0.21c a share last year.  

Mondi’s unbundled packaging unit makes JSE debut 

By: Brindaveni Naidoo     11th July 2011 The listing of Mpact, previously called Mondi Packaging South Africa (MPSA), on the JSE would enable the packaging company to take further advantage of growth opportunities, CEO Bruce Strong said on Monday. Shares in Mpact started trading at R16 apiece when the market opened in Johannesburg, but... 

Mondi’s unbundled packaging unit Mpact to list in July

By: Brindaveni Naidoo     31st May 2011 Paper and packaging group Mondi remained confident that the company would maintain an acceptable broad-based black economic empowerment (BBBEE) rating following the demerger and the separate listing of Mondi Packaging South Africa (MPSA) as Mpact on the JSE, group corporate affairs manager Lora... 

Nampak sees higher earnings as two-year strategy bears fruit

By: Loni Prinsloo     25th May 2011 Diversified packaging company Nampak on Wednesday reported a 28% year-on-year increase in its interim headline a share to 93,5c a share, from 72,8c a share, on the back of stronger operating profit and lower financing costs The group’s trading margins improved from 9,5% to 10,7% for the six... 

Sappi moves to close Eastern Cape paper mill

By: Terence Creamer     23rd May 2011 Paper and pulp producer Sappi Southern Africa reported on Monday that it had initiated consultations on the closure of the Adamas paper mill, in Port Elizabeth, citing “difficult” market conditions and input cost increases – a final decision would be be made towards the end of July. The... 

Illovo raises R940m in Swaziland to pay for expansions

By: Loni Prinsloo     16th May 2011 JSE-listed sugar producer Illovo on Friday said that it had successfully raised R939-million in Swaziland to fund its Umbombo expansion and cogeneration project. MD Graham Clark said that the funding had been critical to the company’s expansion plans and would enable it to increase production... 

Sappi approves chemical cellulose expansion at Ngodwana

By: Loni Prinsloo     9th May 2011 Paper and pulp producer Sappi on Monday announced that it would expand its Ngodwana mill operations in Mpumalanga to produce chemical cellulose, which is primarily used for viscose fibre in the textile industry, by 2013. The expanded mill would produce kraft linerboard, newsprint, as well as 210... 

Higher prices and sales see Mondi achieve strong Q1 profit

By: Loni Prinsloo     5th May 2011 JSE- and LSE-listed paper and packaging group Mondi on Thursday said that an increase in product prices and sales volumes more than offset growing input costs and reported a profit of €187-million for its first quarter, well in excess of profits from its previous two quarters. CEO David Hathorn... 

Mondi signs €750-million credit facility to complete its refinancing

By: Loni Prinsloo     15th April 2011 Johannesburg- and London-listed Mondi on Friday announced that it had inked a new €750-million credit facility, with a consortium of ten banks. CFO Andrew King said that the facility would further strengthen the group by extending its debt maturity profile and provide it with additional... 

Sappi announces $680m notes offering to repay debt

By: Loni Prinsloo     4th April 2011 Paper and pulp manufacturer Sappi on Monday announced an offer of $680-million in senior secured notes to be issued in two series due in 2018 and 2021. The proceeds of the offering would be used to redeem the remaining outstanding amount of the issuer’s 6,75% guaranteed notes due in 2012 and to... 

Mondi posts fourfold profit rise as demand and prices recover

By: Loni Prinsloo     21st February 2011 After two difficult trading years, paper and packaging group Mondi on Monday reported a significant increase in its full-year earnings, buoyed by a recovery in demand, which led to a positive pricing environment. The Johannesburg- and London-listed group reported a 312% jump in headline earnings... 

Sappi to unveil chemical cellulose growth plans later this year

By: Terence Creamer     10th February 2011 Pulp and paper producer Sappi will, within the next six months, announce several projects aimed at increasing its chemical cellulose capacity – a product used primarily by the textiles sector and which has emerged as an increasingly material contributor to the JSE-listed group’s earnings. CEO... 

Sappi to buy back $150m in debt, posts Q1 profit

By: Loni Prinsloo     9th February 2011 Paper and pulp manufacturer Sappi will continue to reduce its debt in the 2011 financial year, CEO Ralph Boëttger said on Wednesday, announcing a $150-million notes buyback. Sappi’s debt increased to $2,43-billion in the December quarter, from $2,22-billion in the previous quarter, owing to the... 

William Tell receives first part of DTI manufacturing grant

By: Chanel de Bruyn     19th November 2010 Wood-based panel (WBP) manufacturer William Tell has received the first R9-million of a manufacturing grant from the Department of Trade and Industry (DTI). In December last year, the AltX-listed company announced that it had been granted a R30-million grant from the DTI in respect of its second... 

Mondi sees strong final quarter, says rand a 'major headwind'

By: Chanel de Bruyn     1st November 2010 Paper and packaging group Mondi expects to continue to deliver a strong performance in the last quarter of the year, but warned that the continued strengthening of emerging market currencies was impacting on the competitiveness of some of the group’s businesses. The group, led by CEO David... 

KZN forestry property first to be proclaimed a nature reserve

By: Christy van der Merwe     29th October 2010 Gilboa Nature reserve is the first forestry property to be proclaimed as a private nature reserve within KwaZulu-Natal (KZN), under the biodiversity stewardship mechanism.

Through the biodiversity stewardship initiative, Ezemvelo KZN Wildlife, in partnership with the Grasslands Programme of the... 

York begins to turnaround from dismal 2009 

By: Creamer Media Reporter      30th September 2010 Forestry and forest products group York Timbers recorded a R64,6-million profit in the 2010 financial year, a significant turnaround on the R232-million net loss recorded in the previous financial year. The group, which was hit by falling demand and prices during the 2009 recession, reported... 

Mondi transfers 258 ha to KZN community

By: Creamer Media Reporter      23rd September 2010 Paper and packaging group Mondi has concluded its ninth land restitution settlement, transferring 258 ha of its forestry land to members of the Mkhwanazi community, in Port Durnford, in KwaZulu-Natal. The members of the community will gain ownership of the land through the Phalane Trust and plan... 

Sappi Waste Paper becomes Sappi ReFibre 

By: Creamer Media Reporter      17th September 2010 Paper and packaging group Sappi has renamed its secondary fibre division, formerly known as Sappi Waste Paper, to Sappi ReFibre. This formed part of the group’s commitment to sustainability and to recycle paper and reduce waste. 

York Timbers expects to post FY profit

By: Creamer Media Reporter      15th September 2010 Solid wood products group York Timbers expects its headline earnings a share for the year ended June 30, 2010, to be between 112% and 120% higher than the year before. The group expected to report headline earnings a share of between 30c a share and 50c a share when it releases its results on... 

Mondi sells 25,1% in Hadera venture

By: Creamer Media Reporter      8th September 2010 Paper and packaging group Mondi will sell 25,1% of its interest in Israeli-based Mondi Hadera Paper to its joint-venture partner Hadera Paper Ltd for €10,4-million. Hadera Paper would then hold a 75% interest in the Israeli company, which owned a 145 000-t/y paper mill, which produced office and... 

Mondi reports interim profit, sees strong second half

By: Creamer Media Reporter      10th August 2010 A strong performance for its Europe & International division and improving conditions in its South Africa division have led to paper and packaging group Mondi reporting interim headline earnings a share of €0,24 a share. This compared to a headline loss a share of €0,01 a share in the six months... 

Valli Moosa appointed to Sappi board

By: Creamer Media Reporter      2nd August 2010 Former Member of Parliament Valli Moosa has joined the board of pulp and paper producer Sappi as a nonexecutive director. The appointment of Moosa, who is chairperson of Sappi’s strategic black economic-empowerment (BEE) partner Lereko Investments, followed on the conclusion of Sappi’s... 

Sappi posts $64m profit as pulp prices, demand improve

By: Chanel de Bruyn     2nd August 2010 Higher global pulp prices and improved demand and sales volumes have led to a significantly better financial performance for paper and pulp producer Sappi during the third quarter of this year. The group, led by CEO Ralph Boëttger, reported a net profit of $64-million in the third quarter of the... 

Mondi expects big improvement in half-year results

By: Creamer Media Reporter      30th July 2010 Paper and pulp producer Mondi expects to report considerably higher interim earnings, saying that its headline earnings a share for the six months ended June 30, 2010, were likely to be between 22c a share and 27c a share, compared with a 0,8c a share headline loss the year before. Basic... 

Sappi combines Southern African paper and packaging businesses

By: Creamer Media Reporter      15th July 2010 JSE-listed Sappi announced on Thursday that its Southern African unit would consolidate its paper and paper packaging businesses to strengthen its ability to meet customer requirements and to develop new business opportunities. Sappi Fine Paper South Africa and Sappi Kraft would merge to become... 

Nampak reports 22% profit increase, revenues fall

By: Creamer Media Reporter      27th May 2010 JSE-listed packaging group Nampak has recorded a 22,5% increase in net profit to R475,7-million for six months ended March 31, 2010, compared with R388,2-million in the first half of 2009. Headline earnings a share improved by 16,3% to 77,8c a share, compared with 66,9c a share the year before,... 

Sappi expects pulp prices to remain firm for 2010

By: Loni Prinsloo     7th May 2010 Pulp and paper company Sappi said on Friday that it expected pulp prices to remain at firm, at their current "somewhat elevated" levels, for the remainder of the year. The company, whose second quarter results were buoyed by strong increases in market pulp prices, precipitated mainly by the... 

Mondi to boost SA unit’s pulp exports

By: Loni Prinsloo     6th May 2010 Paper and pulp manufacturer Mondi plans to increase its South African business' primary exports of pulp to Europe and to ultimately shift the unit's focus away from paper exports to that market, it said on Thursday. Mondi CEO David Hathorn said in a conference call that the company would... 

Mondi sells European paper merchant for €60m

By: Creamer Media Reporter      5th May 2010 Paper and packaging group Mondi would sell its Europapier business to Austrian paper and pulp manufacturer the Heinzel Group for €60-million in cash, it announced on Wednesday. The JSE- and LSE-listed Mondi noted that the proceeds of the sale would be used to reduce its net debt. 

Sappi Forests buys 14 500-ha plantation from Mondi

By: Loni Prinsloo     20th April 2010 Paper and pulp manufacturer Sappi Forests said on Tuesday that it had extended its plantation holdings in South Africa with the purchase of the Sjonajona plantation in the Mpumalanga province from Mondi. The plantation lies between Machadodorp and Barberton and is 14 500 ha in extent, of which 9... 

Transpaco buys Nampak unit for R30m

By: Creamer Media Reporter      15th April 2010 Empowered packaging manufacturer Transpaco would acquire fellow packaging firm Nampak’s Disaki Cores and Tubes, as well as Nampak’s Cleveland Packaging and Global Packaging businesses, for R30-million. Transpaco CEO Phillip Abelheim said that the acquisition would be financed from the group’s... 

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