Type Public Website www.sappi.com Founded 1936 | Products paper, pulp Number of employees 12,800 | |
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Traded as JSE: SAP
OTC Pink: SPPJY Key people Stephen (Steve) Robert Binnie (CEO)
Glen Thomas Pearce (CFO) Stock price SAP (JSE) 8,799.00 ZAC -20.00 (-0.23%)22 Mar, 12:06 PM GMT+2 - Disclaimer Headquarters Braamfontein, City of Johannesburg Metropolitan Municipality, South Africa CEO Stephen Robert Binnie (1 Jul 2014–) Subsidiaries Sappi Stockstadt GmbH, CN Papiervertriebs GmbH Profiles | ||
Sappi a global leader in paper and pulp
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.
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Products and operation
South African Pulp and Paper Industries Limited was founded in 1936. The company is now known as Sappi and is headquartered in Johannesburg, It produces and sells commodity paper products, pulp, chemical cellulose, and forest and timber products for Southern Africa and export markets. In 2013, it was the world's largest producer of dissolving wood pulp.
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.
As of 1 July 2014, Steve Binnie became Sappi's Chief Executive Officer. His predecessor, Ralph Boettger, resigned for health reasons after serving as CEO from 2007 to 2014.
Global acquisitions and closures
On 29 September 2008, Sappi purchased two paper mills in Finland, one in Switzerland and one in Germany from the M-real company. In the United States, Sappi closed its Muskegon, Michigan plant in 2009, which was founded in 1899 by the Central Paper Company. In 2011 Sappi announced closure of their Swiss production site. The company's existing kraft pulp plant in Cloquet, Minnesota was replaced by a new mill which began producing dissolving pulp in June 2013.
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.