SAP - Sappi Comments On Impact Of Fires In Kwazulu
SAP
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SAP - Sappi Comments On Impact Of Fires In Kwazulu Natal Midlands
Sappi Limited
(Registration number 1936/008963/06)
(Incorporated in the Republic of South Africa)
Share code: SAP & ISIN: ZAE000006284)
("Sappi" or the "Company")
Johannesburg, 11 July 2007
Sappi comments on impact of fires in KwaZulu Natal Midlands
During extreme weather conditions experienced in the KwaZulu Natal Midlands near
Howick on Monday 25 June 2007, several runaway veld fires occurred, causing
extensive fire damage to Sappi Forests` property in the area. Extreme weather
conditions made it very difficult to combat and then extinguish the fires. This
was eventually achieved late on the 26th of June.
Commenting on the damage caused, Hendrik de Jongh, Managing Director of Sappi
Forests stated that "The area affected by the fire, some 5,500ha, represents
approximately 2% of our forests." As regards the financial cost involved de
Jongh said - "its early days and the numbers are still being finalised, but we
expect the net impact to be around US$5m after tax. It is not yet clear how much
of the wood we would be able to use, which would of course also influence the
financial impact."
Issued by: Sappi Limited
11 July 2007
Sponsor: UBS Warburg
Date: 11/07/2007 16:16:17 Produced by the JSE SENS Department.
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