This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Sappi Fine Paper North America Announces Successful Completion Of $170M Major Capital Investment In North American Operations

Stocks in this article: SAP

BOSTON, Oct. 30, 2013 /PRNewswire/ -- Sappi Fine Paper North America announced today the successful completion of its US$170 million capital conversion project at the Cloquet Mill in Minnesota to produce Specialised Cellulose, which is used in textile and consumer goods markets. The conversion initiated in 2011, was accomplished on time, within budget, and safely. This major investment reflects Sappi's commitment to the North American region as a key player in the global Specialised Cellulose market and will be celebrated during an open house at Cloquet Mill today.

(Logo:  http://photos.prnewswire.com/prnh/20110728/MM43821LOGO )

"Sappi's investment in the Cloquet Mill reinforces our position as a worldwide leader in the Specialised Cellulose market, demonstrating our reputation of reliability and technical know-how," said Mark Gardner, President and Chief Executive Officer, Sappi Fine Paper North America. "Through incredible teamwork, the remarkable execution of our Specialised Cellulose conversion is a reflection of Sappi Fine Paper North America's expertise in manufacturing new, innovative products with the unparalleled quality our customers have come to expect."

Sappi globally is currently the largest manufacturer of Specialised Cellulose in the world with capacity totaling to over 1.3 million metric tons per year. Specialised Cellulose, also known as dissolving wood pulp, is a versatile raw material used by manufacturers to produce a wide range of products including textile fibers, pharmaceutical, beauty, and household products.

"The Cloquet Mill is ideally suited to help Sappi secure its global leadership position regarding Specialised Cellulose. It is the newest pulp mill in America, close to its fiber basket and with a highly skilled and motivated workforce," said Ralph Boettger, Chief Executive Officer, Sappi Limited. "The mill adds to Sappi's flexibility in serving its global customer base and has, from start-up, produced excellent quality product. Cloquet's paper and now dissolving pulp capabilities are central to the ongoing success of Sappi in North America."

The company now has the capability to produce Specialised Cellulose on two continents including its South Africa expansion at the Sappi Ngodwana Mill and its Saiccor Mill in KwaZulu-Natal. With the Cloquet conversion now complete, the mill's Specialised Cellulose production is 330,000 metric tons per year.

"For a capital project of this magnitude and complexity, we are very pleased with its successful completion," said Rick Dwyer, Managing Director, Cloquet, Sappi Fine Paper North America. "It is with great pride that we are celebrating the hard work of our employees and contractors and their role in helping Sappi bring state-of-the-art innovation to the Cloquet Mill as we continue to invest in North American manufacturing."



1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,810.06 +91.06 0.51%
S&P 500 2,063.50 +10.75 0.52%
NASDAQ 4,712.97 +11.1030 0.24%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs