At peak construction, over 1100 workers were employed on the project with 41 different contractors totaling to over 550,000 man hours. In the first two weeks of the start-up curve, average production was between 500-600 tons to over 1,000 tons produced per day as ramp up continued into July. Product output has exceeded quality targets and the production capacity is currently fully-secured to fulfill customer orders.
The company takes great pride in producing products in the United States. In addition to this Specialised Cellulose conversion project, Sappi has made significant capital investments across all of its North American business units over the past year. Excellence in coated paper manufacturing continues to remain a top priority at Cloquet with $15M recently invested towards a dry fiber handling system as well as new refiners and former upgrades on both PM4 and PM12. The company has also upgraded coated paper capabilities at Somerset Mill, in Skowhegan, Maine with a $13M rebuild of PM3; and, in the Release sector, it has invested $2.5M to rebuild the specialty coater at the Westbrook Mill in Maine. These strategic investments represent Sappi's strong track record as a global leader and its long-term growth strategy in North American operations.
About Sappi Fine Paper North America
Sappi Fine Paper North America, known for innovation and quality, is a preeminent North American producer of coated fine and release papers, as well as dissolving wood pulp (DWP) and market kraft pulp headquartered in Boston, Massachusetts. Its coated fine papers, with highly recognized brand names such as McCoy, Opus, Somerset and Flo, are used in premium magazines, catalogs, books and high-end print advertising. The company is also the world's leading supplier of release papers for the automotive, fashion and engineered films industries, including the globally recognized Ultracast brand. Sappi's release papers provide the surface aesthetics for synthetic fabrics used in footwear, clothing, upholstery and accessories, as well as the textures for decorative laminates found in kitchens, baths, flooring and other decorative surfaces. Sappi globally is the world's largest manufacturer of dissolving wood pulp, a versatile raw material for a wide range of products including textile fibers and household products. Sappi Fine Paper North America, through the recent conversion of the Cloquet pulp mill, manufactures dissolving pulp under Sappi's Specialised Cellulose division primarily for the textile markets.Sappi Fine Paper North America is a subsidiary of Sappi Limited (JSE), a global company headquartered in Johannesburg, South Africa, with over 14,000 employees and manufacturing operations on three continents in seven countries and customers in over 100 countries around the world. Learn more about Sappi at: www.sappi.com/na. For further information:
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV