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SAP
SAVVI
SAP - Sappi Limited - Sappi SA commences consultations regarding cost
reduction and efficiency improvement initiatives
Sappi Limited
(Registration number 1936/008963/06)
(Incorporated in the Republic of South Africa)
Share code: SAP & ISIN: ZAE000006284
("Sappi" or the "Company")
Press Release
31 August 2009
Sappi Southern Africa commences consultations regarding cost reduction and
efficiency improvement initiatives at its Kraft and Fine Paper mills in South
Africa.
Sappi Southern Africa today began a process of consultations with employees
and trade unions at its Kraft and Fine Paper mills regarding cost reduction
and efficiency improvement initiatives to ensure that the company is well
positioned to take full advantage of the expected improvement in operating
conditions and markets.
"We will begin consultations with our employees at our Tugela, Ngodwana and
Enstra mills regarding proposals for cost reduction and efficiency improvement
initiatives to ensure that we meet our stated objectives of improved
profitability and delivering acceptable returns," commented Jan Labuschagne,
Chief Executive Officer of Sappi Southern Africa. "The proposed actions are
required to successfully meet the challenges of the depressed economic
conditions we are experiencing in the domestic and export markets for Fine
Paper and Kraft products. These actions will not impact on our ability to meet
customer demand or current commitments." he continued.
"Any decision which may lead to retrenchments remains difficult and one we
only consider as a last resort. We do not expect this to affect more than 400
employees across the three mills. These initiatives will ensure that we are
strongly positioned to take full advantage of any improvements in our markets
and in economic conditions in general," he concluded.
END
Issued by:
Brunswick South Africa on behalf of Sappi Limited
Tel + 27 11 502 7300
Fax + 27 11 268 5747
For further information contact:
Andre F Oberholzer
Group Head Corporate Affairs
Sappi Limited
Tel +27 11 407 8044
Mobile +27 83 235 2973
Andre.Oberholzer@sappi.com
Date: 31/08/2009 14:30:03 Produced by the JSE SENS Department.
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