Sappi Successfully Concludes its Acquisition of Cham Paper Group
Johannesburg, South Africa 28 February 2018 -- Sappi Limited, a leading global producer of dissolving wood pulp, specialities and packaging papers, printing and writing papers and biomaterials, today announced that all conditions precedent relating to the acquisition of the speciality paper business of Cham Paper Group Holding AG (CPG) have been fulfilled and closing has been completed.
The transaction includes the acquisition of CPG's Carmignano and Condino Mills in Italy, its digital imaging business located in Cham, Switzerland as well as all brands and know-how.
The main benefits of the acquisition include:
Commenting on the transaction Steve Binnie, Chief Executive Officer of Sappi Limited, said:
About Sappi Limited
A global leader in dissolving wood pulp and paper-based solutions, Sappi Limited (listed and in the Top 40 on the JSE - SAP), is headquartered in Johannesburg, South Africa; has over 12,000 employees; manufacturing facilities on three continents, in seven countries (eight operations in Europe, three operations in America and five operations in South Africa) and customers in over 150 countries worldwide
We continue to grow into a profitable and cash-generative diversified business with an exciting future in woodfibre, a renewable resource.
About Cham Paper Group Holding AG (CPG): CPGN (SWX)
The Cham Paper Group Holding AG is a leading manufacturer of coated speciality papers. The company was founded in 1657. Following the divestment of the paper business, the company will focus on its real estate business and will operate under the name «Cham Group».
Carmignano Mill (Carmignano di Brenta, Padua, Italy):
This is a non-integrated paper mill with two paper machines. The plant can produce 100 000 tons of paper and employs 223 people. Paper grades include C1S FlexPack, C1S Label Papers, Wet Glue and Self-Adhesive applications, base paper for metallisation
Condino Mill (Borgo Chiese, Trento, Italy):
This is a non-integrated paper mill, with one paper machine. The mill employs 127 employees and can produce 60 000 tons of paper per year. Paper grades include glassine (silicone base paper) and super calendared, uncoated flexible packaging papers.
Digital Imaging Business (Cham, Canton Zug, Switzerland):
A finishing plant is located in Cham Switzerland, in a 4000sqm industrial warehouse where the base paper from Condino or Carmignano mills are converted to produce 12 000 tons of digital imaging paper. The business employs 35 people.
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