Sappi

{{Distinguish|SAPI (disambiguation){{!}}Sapi}}

{{Infobox company

| name = Sappi Limited

| logo = Logo of Sappi Limited (company).svg

| logo_size = 160px

| type = Public

| traded_as = {{jse|SAP}}

| foundation = 1936

| location = Johannesburg, South Africa

| key_people = Sir Nigel Rudd (Chairman)
Stephen (Steve) Robert Binnie (CEO)
Glen Thomas Pearce (CFO)

| products = Paper, pulp

| revenue = {{decrease}} US$5.809 billion (2023){{cite web|url=https://sappi-ir-reports.co.za/online-reports/air-2023/pdf/iar-full.pdf|title=2023 Sappi Group Annual Financial Statements|accessdate=22 October 2024}}

| operating_income = {{decrease}} US$432 million (2023){{cite web|url=https://sappi-ir-reports.co.za/online-reports/air-2023/pdf/iar-full.pdf|title=2023 Sappi Group Annual Financial Statements|accessdate=22 October 2024}}

| net_income = {{increase}} US$210 million (2023){{cite web|url=https://sappi-ir-reports.co.za/online-reports/air-2023/pdf/iar-full.pdf|title=2023 Sappi Group Annual Financial Statements|accessdate=22 October 2024}}

| assets = {{increase}} US$3.53 billion (2023){{cite web|url=https://sappi-ir-reports.co.za/online-reports/air-2023/pdf/iar-full.pdf|title=2023 Sappi Group Annual Financial Statements|accessdate=22 October 2024}}

| equity = {{increase}} US$2.44 billion (2023){{cite web|url=https://sappi-ir-reports.co.za/online-reports/air-2023/pdf/iar-full.pdf|title=2023 Sappi Group Annual Financial Statements|accessdate=22 October 2024}}

| num_employees = 12,329 (2023){{cite web|url=https://sappi-ir-reports.co.za/online-reports/air-2023/pdf/iar-full.pdf|title=2023 Sappi Group Annual Financial Statements|accessdate=22 October 2024}}

| homepage = [http://www.sappi.com/ www.sappi.com]

}}

Sappi Limited, originally incorporated as South African Pulp and Paper Industries Limited in 1936, is a South African pulp and paper company with global operations.{{cite web|url=http://www.answers.com/topic/sappi-limited |title=Sappi Limited |publisher=answers.com |date= |accessdate=19 August 2014}}{{cite book | url=https://books.google.com/books?id=9XELAgAAQBAJ&q=sappi+1936&pg=PR10 | title=Baobab Trails: A Journey of Wilderness and Wanderings | publisher=Jacana Media | date=1 October 2013 | first=Clive | last=Walker | isbn=9781431408696 | accessdate=25 August 2014 | page=x (foreword) }}

Products and operation

South African Pulp and Paper Industries Limited was founded in 1936.{{cite news | url=http://www.techrepublic.com/resource-library/casestudies/sappi-riverbed-technology-enables-paper-and-pulp-company-to-monitor-applications-and-improve-efficiency-and-performance/ | title=Sappi: Riverbed Technology Enables Paper and Pulp Company to Monitor Applications and Improve Efficiency and Performance | date=October 2011 | publisher=TechRepublic | author=Riverbed Technology | accessdate=25 August 2014 }} The company is now known as Sappi and is headquartered in Johannesburg,{{cite web|url=http://www.sappi.com/regions/is/group/GroupProfile/Pages/default.aspx |title=Group profile |publisher=Sappi.com |date= |accessdate=5 September 2013}}{{cite web|url=http://www.sappi.com/regions/is/group/GroupProfile/Pages/Group-structure.aspx |title=Group structure |publisher=Sappi.com |date= |accessdate=5 September 2013}} It produces and sells commodity paper products, pulp, dissolving pulp, and forest and timber products for Southern Africa and export markets.Hermann Simon mentioned this company in his correspondent Book as an example of a "Hidden Champion" (Simon, Hermann: Hidden Champions of the 21st Century : Success Strategies of unknown World Market Leaders. London: Springer, 2009.- {{ISBN|978-0-387-98147-5}}.) In 2013, it was the world's largest producer of dissolving pulp.{{cite news | url=http://www.saforestrymag.co.za/articles/detail/more_hardwood_required_as_sappi_shifts_to_dissolving_pulp | title=More hardwood required as Sappi shifts to dissolving pulp | work=SA Forestry Magazine | date=October 2013 | accessdate=25 August 2014 | url-status=dead | archiveurl=https://archive.today/20140826022702/http://www.saforestrymag.co.za/articles/detail/more_hardwood_required_as_sappi_shifts_to_dissolving_pulp | archivedate=26 August 2014 | df=dmy-all }}

In 2003, Sappi announced that Andre Wagenaar had been appointed as the CEO of Sappi's Forest Products Division, with effect from 1 January 2004, when Dr John Job relinquished his responsibilities for the Southern African businesses.{{cite press release |url= http://www.businesswire.com/news/home/20031022005344/en/CEO-Sappis-Forest-Products-Division-Managing-Director| title=New CEO of Sappi's Forest Products Division and Managing Director of Sappi Forests Announced}}

As of 1 July 2014, Steve Binnie became Sappi's CEO.{{cite news | url=https://www.bloomberg.com/news/2014-02-10/sappi-appoints-cfo-steve-binnie-as-ceo-to-oversee-pulp-strategy.html | title=Sappi Appoints CFO Steve Binnie as CEO to Oversee Pulp Strategy | publisher=Bloomberg | first=Kamlesh | last=Bhuckory | date=10 February 2014 | accessdate=25 August 2014 }} His predecessor, Ralph Boettger, resigned for health reasons having been CEO from 2007.{{cite news | url=http://beta.citizen.co.za/?p=111043 | title=Sappi CEO resigns due to ill health | date=15 January 2014 | accessdate=25 August 2014 | newspaper=The Citizen | location=South Africa }}

In July 2019, Michael G. Haws was appointed as president and CEO of Sappi North America, succeeding Mark Gardner who retired at the end of September 2019.{{Cite web|url=https://markets.businessinsider.com/news/stocks/sappi-appoints-mike-haws-as-president-and-chief-executive-officer-of-its-north-american-operations-1028372101|title=Sappi appoints Mike Haws as President and Chief Executive Officer of its North American operations {{!}} Markets Insider|last=GmbH|first=finanzen net|website=markets.businessinsider.com|access-date=26 March 2020}}

Global acquisitions and closures

In 1990, Sappi purchased the paper mills of UK Dickinson Robinson Group – Nash Mills, Keynsham Paper Mill and Fife Paper Mills from the asset-stripper Roland Franklin (Pembridge Investments). These mills were subsequently closed by Sappi as were all other acquisitions (Kymmini Oy, Blackburn Mill and Wolvercote Mill) they had made in the UK.{{Cite news|url=https://www.printweek.com/content/news/sappi-to-close-down-its-loss-making-nash-mill/|title=Sappi to close down its loss-making Nash mill|date=10 May 2006|newspaper=Print Week|access-date=2 March 2024}}

On 29 September 2008, Sappi purchased two paper mills in Finland, one in Switzerland and one in Germany from the M-real company.{{Cite web|url=http://www.hs.fi/english/article/M-real+sells+four+paper+mills+to+South+African+Sappi+Limited/1135239853838|title=Article by Helsingin Sanomat.|website=www.hs.fi/|accessdate=25 October 2023}}{{Cite web|url=https://www.metsagroup.com/metsaboard/|title=Europe's leading producer of fresh fibre paperboards|website=www.metsagroup.com|accessdate=25 October 2023}} In the United States, Sappi closed its Muskegon, Michigan plant in 2009, which was founded in 1899 by the Central Paper Company.{{cite news | url=http://www.mlive.com/news/muskegon/index.ssf/2009/08/sappi_fine_paper_mill_closing.html | title=Sappi Fine Paper mill closing permanently, eliminating 190 jobs | first=Dave | last=Alexander | date=28 August 2009 | publisher=MLive | accessdate=25 August 2014 }} In 2011 Sappi announced closure of their Swiss production site.{{cite news | last = | first = | authorlink = | title =Keinen Käufer für Papierfabrik in Biberist gefunden | newspaper = Neue Zürcher Zeitung | date = 20 July 2011 | url = http://www.nzz.ch/aktuell/wirtschaft/uebersicht/keinen-kaeufer-fuer-papierfabrik-in-biberist-1.11526393 | format = | doi = | accessdate = 19 April 2014 }} The company's existing kraft pulp plant in Cloquet, Minnesota was replaced by a new mill which began producing dissolving pulp in June 2013.{{cite news | url=http://ppimagazine.com/mills/north-america/projects/conversion-boosts-sappi-cloquet-mill-growth-strategy | title=Conversion boosts Sappi Cloquet mill growth strategy | date=1 August 2014 | author=PPI | accessdate=25 August 2014 }}

Price fixing controversy

In 1996, Sappi along other 10 main producers of carbonless paper was investigated by the European Commission for illegal price fixing in various countries in the EU. Although found guilty of earning millions by fixing the price of printing paper, Sappi was granted full immunity from the fine due to its cooperation with the EC's cartel investigating unit. Other companies implicated were fined a total of $145 million.{{cite web | last = | first = | authorlink = | title = Commission fines ten companies for carbonless paper cartel | work = Press release | publisher = European Commission | date = 20 December 2001 | url = http://europa.eu/rapid/press-release_IP-01-1892_en.htm?locale=en | format = | doi = | accessdate = 19 April 2014 }}