Sappi Confirms Sale of Nijmegen Mill
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Sappi, Johannesburg, South Africa, this week confirmed that it has reached an agreement to dispose of the Sappi Nijmegen Mill in the Netherlands to an affiliate of American Industrial Acquisition Corp. (AIAC). The new name of the Sappi Nijmegen Mill is Innovio Papers. The mill will produce specialty paper and will no longer be engaged in the coated graphic paper business.
A transfer plan is being arranged with current graphic paper customers. The transaction became effective June 16. Sappi notes that the disposal is not categorizable in terms of section 9.5 of the JSE Listings Requirements.
