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Sappi Cape Kraft newsrelease Cape Kraft newsrelease.pdf · Sappi sells Cape Kraft recycled packaging mill to Golden Era Group Following on Sappi’s recent announcement of the sale

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Page 1: Sappi Cape Kraft newsrelease Cape Kraft newsrelease.pdf · Sappi sells Cape Kraft recycled packaging mill to Golden Era Group Following on Sappi’s recent announcement of the sale

For further information Issued by

André F Oberholzer

Group Head Corporate Affairs

Sappi Limited

Tel +27 (0)11 407 8044

Mobile +27 (0)83 235 2973

[email protected]

Elijah Masondo

Corporate Communications Manager

Sappi SA

Tel + 27 (0)11 407 8478

Mobile + 27 (0)83 661 7012

[email protected]

Brunswick

on behalf of Sappi Limited

Tel + 27 (0) 11 502 7300

Media Release Johannesburg, 14 July 2015

Sappi sells Cape Kraft recycled packaging mill to Golden Era Group

Following on Sappi’s recent announcement of the sale of its Enstra Mill and recycled packaging business, Sappi wishes to announce the sale of its Cape Kraft recycled packaging paper Mill to the Golden Era Group. In March 2015 Sappi initiated a closed tender process after receiving many expressions of interest to buy the mill. It is expected that the transaction will close in September 2015. The disposal is not categorisable in terms of section 9.5 of the JSE Listings Requirements. Sappi will receive just short of R600 million from the two transactions. Commenting on the transaction, Sappi Southern Africa CEO Alex Thiel said: “The sale of the Cape Kraft and Enstra mills and the recycled packaging paper business is in line with Sappi Southern Africa’s strategy to unlock value from non-core assets and free up resources for investment in dissolving wood pulp, virgin containerboard and other new business opportunities. The sales also support the Sappi Limited strategy to strengthen the group’s balance sheet and focus on high-growth opportunities.” Golden Era Group CEO Kishor Chhita remarked: “We are very pleased to be able to acquire this top quality asset from Sappi. It will strengthen our position in the market as a service-oriented company that offers packaging solutions and will further help us to achieve our goal of creating lasting team-based partnerships with our customers.”

ENDS

NOTE TO EDITORS: Golden Era Group, started in 1955, is today the third largest printing and packaging company in South Africa. The Group has a national footprint company specializing in the manufacturing of kraft paper, corrugated cases, folding cartons, notestiks, paperbags, self-adhesive and IML

Sappi Limited

Sappi Southern Africa

PO Box 31560

Braamfontein

2017

South Africa

Tel +28 (0)11 407 8111

www.sappi.com

Page 2: Sappi Cape Kraft newsrelease Cape Kraft newsrelease.pdf · Sappi sells Cape Kraft recycled packaging mill to Golden Era Group Following on Sappi’s recent announcement of the sale

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labels, shrink sleeves, three piece metal cans, vacuum-formed and thermos-formed packaging. 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 some 161 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.