Sappi Confirms Sale Of Nijmegen Mill - Quick Facts

(RTTNews) - Sappi Ltd. (SPPJY.PK), a global company focused on dissolving wood pulp, paper pulp and paper-based solution, confirmed signing an agreement to dispose off the mill to an affiliate of American Industrial Acquisition Corp. or "AIAC".

The new name of the Sappi Nijmegen Mill is Innovio Papers, which would manufacture specialty paper and would not be engaged in the coated graphic paper business. A transfer plan is being arranged with current graphic paper customers. The transaction is effective as of 16 June 2014.

The sale is not categorisable in terms of section 9.5 of the JSE Listings Requirements.