Sappi Limited announces that all conditions precedent relating to the acquisition of the Matane high yield hardwood pulp mill in Quebec Canada from Rayonier Advanced Materials have been fulfilled and closing has been completed.
Commenting on the transaction Steve Binnie, CEO of Sappi Limited, said: “I am very pleased that we have been able to finalise this acquisition so quickly. This acquisition will provide Sappi with both cost reductions and decreased volatility at a very competitive price per ton of pulp. The transaction strengthens Sappi’s pulp integration, improves our profitability and is another significant milestone towards realizing our Vision2020 goal.”
Sappi Limited is a leading global producer of dissolving wood pulp, specialities and packaging papers, graphic papers and biomaterials.
