Oct 07, 2011. /Lesprom Network/. Sappi announced a strategy update that will position the global pulp, paper and cellulose-based solutions group for the future. Sappi's strategy involves four key themes, namely: continuing to optimise better performing businesses, fixing underperforming businesses, investing for future growth in higher margin businesses, including chemical cellulose, and achieving this within the reality of the group's liquidity and balance sheet. The company aims to generate at least 60% of operating profit from these higher margin growth businesses within 3 to 5 years, achieving real growth in the revenue line and asset base and exceeding minimum ROCE target of 12%. The group expects to take impairment and restructuring charges of approximately $160 million in the fourth financial quarter ended September 2011, of which $20 million are cash impairment charges. The impairment and restructuring charges for the full financial year ended September 2011 will therefore be approximately $300 million, of which approximately $80 million are cash charges. Commenting on the strategy update, Ralph Boettger, CEO of Sappi said: "We are confident that the major interventions, painful and regrettable as they are in terms of our staff, the relationships we are continuing to build with our customers and the exciting investments in growth will position Sappi well for the future. These actions are not only particularly relevant and appropriate given prevailing market conditions, but will position Sappi well for improved returns and growth, in the shorter and longer term. We expect the financial benefits of these actions to commence in this new financial year."