Jul 30, 2015. /Lesprom Network/. Sappi sells its Cape Kraft recycled packaging paper mill to the Golden Era Group. In March 2015 Sappi initiated a closed tender process after receiving many expressions of interest to buy the mill. It is expected that the transaction will close in September 2015. Sappi will receive just short of R600 million ($47.2 million) from the two transactions, as the company said in the press release received by Lesprom Network.

Commenting on the transaction, Sappi Southern Africa CEO Alex Thiel said: “The sale of the Cape Kraft and Enstra mills and the recycled packaging paper business is in line with Sappi Southern Africa’s strategy to unlock value from non-core assets and free up resources for investment in dissolving wood pulp, virgin containerboard and other new business opportunities. The sales also support the Sappi Limited strategy to strengthen the group’s balance sheet and focus on high-growth opportunities.”

Sappi Limited is a global company focused on dissolving wood pulp, paper pulp and paper-based solutions to our direct and indirect customer base in some 161 countries around the world.