Sappi

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For the island on the coast of Bothnian Sea in Finland, see Säppi.
Sappi Limited
Public
Traded as JSE: SAP
OTC Pink: SPPJY
Founded 1936
Headquarters Johannesburg, South Africa
Key people
 Stephen (Steve) Robert Binnie (CEO)
Glen Thomas Pearce (CFO)
Products paper, pulp
Number of employees
 12800
Slogan Inspired by life
Website www.sappi.com

Sappi Limited, originally incorporated as South African Pulp and Paper Industries Limited in 1936, is a South African pulp and paper company with global operations.[1][2]

Products and operation

South African Pulp and Paper Industries Limited was founded in 1936.[3] The company is now known as Sappi and is headquartered in Johannesburg,[4][5] It produces and sells commodity paper products, pulp, chemical cellulose and forest and timber products for Southern Africa and export markets.[6] In 2013, it was the world's largest producer of dissolving wood pulp.[7]

In 2003, Sappi announced that Andre Wagenaar had been appointed as the CEO of Sappi's Forest Products Division, with effect from 1 January 2004, when Dr John Job relinquished his responsibilities for the Southern African businesses.[8]

As of 1 July 2014, Steve Binnie became Sappi's Chief Executive Officer.[9] His predecessor, Ralph Boettger, resigned for health reasons after serving as CEO from 2007 to 2014.[10]

Global acquisitions and closures

On 29 September 2008, Sappi purchased two paper mills in Finland, one in Switzerland and one in Germany from the M-real company.[11][12] In the US, Sappi closed its Muskegon, Michigan plant in 2009, which was founded in 1899 by the Central Paper Company.[13] In 2011 Sappi announced closure of their Swiss production site.[14] The company's existing kraft pulp plant in Cloquet, Minnesota was replaced by a new mill which began producing dissolving pulp in June 2013.[15]

Price fixing controversy

In 1996 Sappi along other 10 main producers of carbonless paper was investigated by the European Commission for illegal price fixing in various countries in the EU. Although found guilty of earning millions by fixing the price of printing paper, Sappi was granted full immunity from the fine due to its cooperation with the EC's cartel investigating unit. Other companies implicated were fined a total of $145 million.[16]

References

  1. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  2. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Hermann Simon mentioned this company in his correspondent Book as an example of a "Hidden Champion" (Simon, Hermann: Hidden Champions of the 21st Century : Success Strategies of unknown World Market Leaders. London: Springer, 2009.- ISBN 978-0-387-98147-5.)
  7. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Article by Helsingin Sanomat. http://www.hs.fi/english/article/M-real+sells+four+paper+mills+to+South+African+Sappi+Limited/1135239853838
  12. ↑ Announcement by M-real. http://www.m-real.com/wps/portal?New_WCM_Context=/ilwwcm/connect/OneWeb/Press%20room/News/News_2008-09-29_0947_en_1255022
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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