Sappi buys CPG’s Italian, Swiss mills

JOHANNESBURG – JSE-listed group Sappi announced yesterday that it had acquired the speciality paper business of Cham Paper Group Holding (CPG) for $149million (R2.03billion).

The transaction includes the acquisition of CPG’s Carmignano and Condino Mills in Italy, its digital imaging business in Cham, Switzerland, as well as all brands and know-how.

Sappi chief executive Steve Binnie said the acquisition further strengthened Sappi’s speciality paper business in Europe and globally by combining Cham’s strong brands and assets with Sappi’s global reach.

“This transaction will increase profitability and unlock the significant growth and innovation potential inherent within the speciality paper market. I am …read more