Sappi Limited announced that it will bolster its Packaging and Speciality Papers Business through the acquisition of the barrier film technology of Rockwell Solutions Limited. The size of the transaction does not require regulatory disclosure.
According to the announcement, the transaction will mean that Rockwell Solutions will become a subsidiary of Sappi Europe.
Thomas Kratochwill, Vice President Sales and Marketing, Packaging and Speciality Papers for Sappi Europe, commented:
“By gaining access to the barrier film technology of Rockwell Solutions Sappi will be able to accelerate the development of our own solutions and be able to offer our customers an even wider range of barrier coated packaging solutions.”
Sappi is one of the world’s leading producers of speciality papers and carton board with a strong presence in meeting the increased global demand for sustainable barrier paper solutions.
In the three months period ended in March, 2017, Sappi increased EBITDA margin to 15.8%.
Earlier Sappi Europe increases prices for all of its coated mechanical reels from July 1 , 2017.
South African Pulp and Paper Industries (Sappi) Limited was founded in 1936. The company is headquartered in Johannesburg. It is focuses on commodity paper products, pulp, chemical cellulose and forest and timber products for Southern Africa and export markets. In 2013, it was reported as the world’s largest producer of dissolving wood pulp.