Sappi first quarter results ahead of expectations; up 56% year-on-year

For the first quarter ended 31 March 2018, Lecta had revenue of €375.4 million versus €376.3 million in the first quarter ended 31 March 2017, a decrease of €0.9 million or -0%. EBITDA decreased by €4.9 million, or -16%, from €30.2 million in 1Q2017 to €25.3 million in 1Q2018. Click Read More below for additional information.

Stora Enso has signed an agreement to divest its Sachsen Mill located in Eilenburg, Germany, to the Swiss-based family-owned company Model Group. Sachsen Mill has an annual production capacity of 310 000 tonnes of newsprint specialty paper based on recycled paper. Under the agreement, Model Group will own and operate Sachsen Mill after the transaction is closed. Stora Enso will continue to sell and distribute Sachsen’s paper products under a contract manufacturing agreement for a period of 18 months after the closing. After that period, Model will convert the mill to the production of containerboard. All 230 employees at Sachsen Mill will move to Model Group with the transaction. “We believe Model will be a good owner to ensure long-term development of the Sachsen Mill. We will continue to serve our customers with high quality paper products from Sachsen Mill at least until the end of 2022,” said Kati ter Horst, EVP, Stora Enso’s Paper division.

Sappi North America has joined on as a new funding partner of The Recycling Partnership, a national nonprofit that applies corporate funding to improve recycling efforts in communities across the country. In doing so, the company will be working to help transform recycling nationwide, increase materials recovery, and reduce the creation of greenhouse gases that add to climate change. Currently, still less than half of recyclables in U.S. homes are getting captured; just 22 million tons out of an available 46 million tons are recycled every year1. While the funding and management of recycling systems has fallen on the shoulders of cities and towns across the country, now, through The Recycling Partnership, nearly 40 companies, including Sappi are committing financial resources to work with the nonprofit and local governments to improve recycling systems. Click Read More below for additional information.