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UPM and Sappi agreed a EUR 1.42 billion joint venture in which Sappi contributes European mills, including Ehingen and Gratkorn, linked to the Fusion Topliner premium liner for corrugated board.
UPM and Sappi signed a definitive agreement to form a 50/50 graphic paper joint venture combining UPM Communication Papers and Sappi's European graphic paper business. The parties expect about €100 million annual synergies and have secured €600 million of external financing.
Sappi and UPM signed a non-binding letter of intent to form a 50/50 joint venture combining their European, UK and US graphic paper businesses. The combined enterprise value is about EUR 1.42 billion, and definitive agreements are expected in the first half of 2026.
Sappi completed the $500 million replacement of its No. 2 paper machine at its Somerset Mill in Skowhegan, Maine.
Sappi North America completed Project Elevate, a $500 million rebuild of Paper Machine No. 2 at its Somerset Mill in Maine that doubled capacity for SBS paperboard. Full volume is expected by 2026 as customer qualifications continue.
Sappi will invest about $418 million to convert the No. 2 paper machine at its Somerset Mill in Skowhegan, Maine to produce solid bleached sulphate board, nearly doubling machine capacity to 470,000 tons per year by early 2025.
Sappi plans to invest R5 billion over five years in maintenance and upgrade projects at its Saiccor Mill in Umkomaas to cut production costs and reduce its environmental footprint.
Sappi Limited will invest R2.7 billion in a capacity expansion at its Saiccor Mill in Umkomaas, KwaZulu-Natal, during 2018 and 2019.
Sappi Limited signed an agreement to acquire the speciality paper business of Cham Paper Group for CHF146.5 million (about $149 million), including mills in Carmignano and Condino, Italy and a digital imaging business in Cham, Switzerland. Completion is expected in Q1 2018, subject to competition approvals.
Sappi Southern Africa, a subsidiary of Sappi Limited, chose Kuehne + Nagel as its preferred partner for seafreight order management. The three-year EDI-based solution will handle about 80,000 TEU per year.
Sappi will invest US$165 million to rebuild Paper Machine No. 1 at its Somerset Mill in Skowhegan, Maine, to make consumer packaging products. The project adds 180,000 metric tons of capacity and is slated to come online in early 2018.
