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Sappi

From Wikipedia - Reading time: 8 min
For the island on the coast of Bothnian Sea in Finland, see Säppi.
Not to be confused with Sapi.

Sappi Limited
Company typePublic
JSE: SAP
Founded1936
HeadquartersJohannesburg, South Africa
Key people
Sir Nigel Rudd (Chairman)
Stephen (Steve) Robert Binnie (CEO)
Glen Thomas Pearce (CFO)
ProductsPaper, pulp
RevenueDecrease US$5.809 billion (2023)[1]
Decrease US$432 million (2023)[2]
Increase US$210 million (2023)[3]
Total assetsIncrease US$3.53 billion (2023)[4]
Total equityIncrease US$2.44 billion (2023)[5]
Number of employees
12,329 (2023)[6]
Websitewww.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.[7][8]

Products and operation

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South African Pulp and Paper Industries Limited was founded in 1936.[9] The company is now known as Sappi and is headquartered in Johannesburg,[10][11] It produces and sells commodity paper products, pulp, dissolving pulp, and forest and timber products for Southern Africa and export markets.[12] In 2013, it was the world's largest producer of dissolving pulp.[13]

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.[14]

As of 1 July 2014, Steve Binnie became Sappi's Chief Executive Officer.[15] His predecessor, Ralph Boettger, resigned for health reasons after serving as CEO from 2007 to 2014.[16]

In July 2019, Michael G. Haws was appointed as President and CEO of Sappi North America, succeeding Mark Gardner who retired at the end of September 2019.[17]

Global acquisitions and closures

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In 1990, Sappi purchased the paper mills of UK Dickinson Robinson Group – Nash Mills, Keynsham Paper Mill and Fife Paper Mills from the asset-stripper Roland Franklin (Pembridge Investments). These mills were subsequently closed by Sappi as were all other acquisitions (Kymmini Oy, Blackburn Mill and Wolvercote Mill) they had made in the UK.[18]

On 29 September 2008, Sappi purchased two paper mills in Finland, one in Switzerland and one in Germany from the M-real company.[19][20] In the United States, Sappi closed its Muskegon, Michigan plant in 2009, which was founded in 1899 by the Central Paper Company.[21] In 2011 Sappi announced closure of their Swiss production site.[22] The company's existing kraft pulp plant in Cloquet, Minnesota was replaced by a new mill which began producing dissolving pulp in June 2013.[23]

Price fixing controversy

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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.[24]

See also

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References

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  1. ^ "2023 Sappi Group Annual Financial Statements" (PDF). Retrieved 22 October 2024.
  2. ^ "2023 Sappi Group Annual Financial Statements" (PDF). Retrieved 22 October 2024.
  3. ^ "2023 Sappi Group Annual Financial Statements" (PDF). Retrieved 22 October 2024.
  4. ^ "2023 Sappi Group Annual Financial Statements" (PDF). Retrieved 22 October 2024.
  5. ^ "2023 Sappi Group Annual Financial Statements" (PDF). Retrieved 22 October 2024.
  6. ^ "2023 Sappi Group Annual Financial Statements" (PDF). Retrieved 22 October 2024.
  7. ^ "Sappi Limited". answers.com. Retrieved 19 August 2014.
  8. ^ Walker, Clive (1 October 2013). Baobab Trails: A Journey of Wilderness and Wanderings. Jacana Media. p. x (foreword). ISBN 9781431408696. Retrieved 25 August 2014.
  9. ^ Riverbed Technology (October 2011). "Sappi: Riverbed Technology Enables Paper and Pulp Company to Monitor Applications and Improve Efficiency and Performance". TechRepublic. Retrieved 25 August 2014.
  10. ^ "Group profile". Sappi.com. Retrieved 5 September 2013.
  11. ^ "Group structure". Sappi.com. Retrieved 5 September 2013.
  12. ^ 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.)
  13. ^ "More hardwood required as Sappi shifts to dissolving pulp". SA Forestry Magazine. October 2013. Archived from the original on 26 August 2014. Retrieved 25 August 2014.
  14. ^ "New CEO of Sappi's Forest Products Division and Managing Director of Sappi Forests Announced" (Press release).
  15. ^ Bhuckory, Kamlesh (10 February 2014). "Sappi Appoints CFO Steve Binnie as CEO to Oversee Pulp Strategy". Bloomberg. Retrieved 25 August 2014.
  16. ^ "Sappi CEO resigns due to ill health". The Citizen. South Africa. 15 January 2014. Retrieved 25 August 2014.
  17. ^ GmbH, finanzen net. "Sappi appoints Mike Haws as President and Chief Executive Officer of its North American operations | Markets Insider". markets.businessinsider.com. Retrieved 26 March 2020.
  18. ^ "Sappi to close down its loss-making Nash mill". Print Week. 10 May 2006. Retrieved 2 March 2024.
  19. ^ "Article by Helsingin Sanomat". www.hs.fi/. Retrieved 25 October 2023.
  20. ^ "Europe's leading producer of fresh fibre paperboards". www.metsagroup.com. Retrieved 25 October 2023.
  21. ^ Alexander, Dave (28 August 2009). "Sappi Fine Paper mill closing permanently, eliminating 190 jobs". MLive. Retrieved 25 August 2014.
  22. ^ "Keinen Käufer für Papierfabrik in Biberist gefunden". Neue Zürcher Zeitung. 20 July 2011. Retrieved 19 April 2014.
  23. ^ PPI (1 August 2014). "Conversion boosts Sappi Cloquet mill growth strategy". Retrieved 25 August 2014.
  24. ^ "Commission fines ten companies for carbonless paper cartel". Press release. European Commission. 20 December 2001. Retrieved 19 April 2014.
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