Sappi has declared force majeure on the Dissolving Pulp (‘Vulindlela’) expansion and upgrade project at Saiccor Mill
Sappi has declared force majeure on the Dissolving Pulp (‘Vulindlela’) expansion and upgrade project at Saiccor Mill:
Sappi has declared force majeure on the Dissolving Pulp (‘Vulindlela’) expansion and upgrade project at Saiccor Mill
SAPPI SOUTHERN AFRICA LIMITED
Registration number 1951/003180/06
Incorporated in the Republic of South Africa
Stock Code: SSA06
ISIN: ZAG000104472
(“Sappi Southern Africa”)
Sappi has declared force majeure on the Dissolving Pulp (‘Vulindlela’) expansion and
upgrade project at its Saiccor Mill in alignment with the South African Government’s
declaration of a nation-wide lockdown to combat the COVID-19 Epidemic
Sappi Southern Africa wishes to announce that it has informed all suppliers, vendors and
contractors of its decision to declare force majeure and cease all work at the Vulindlela
expansion and upgrade project at its Saiccor Mill in alignment with the South African
Government’s declaration of a nation-wide lockdown to combat the COVID-19 epidemic. The
project is 65 percent complete and is materially on track. It is currently undergoing a controlled
shut down. The project will recommence based on government guidance. Sappi does not
expect any material cost increases from the declaration of force majeure and future cash flows
will be aligned to the revised project timelines.
Date 25 March 2020
Debt Sponsor: Nedbank Corporate and Investment Banking
Date: 25-03-2020 08:00:00
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