JSE-listed dissolving pulp and paper-based solutions company Sappi has concluded an agreement with investment firm Aurelius to take ownership of the Maastricht mill, in the Netherlands; the Stockstadt mill, in Germany; and the Kirkniemi mill, in Finland, for an enterprise value of about €272-million. “The decision to sell these mills follows a detailed and thorough strategic review by Sappi in line with our group Thrive25 strategic focus. This includes reducing exposure to the graphic paper segment, while expanding Sappi’s presence in segments including packaging and speciality papers, pulp and biomaterials. Recent investments across our South African, American and European operating businesses demonstrate this priority,” says Sappi CEO Steve Binnie.
