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Sappi continues turnaround as weak European market persists

By: Natasha Odendaal 7th November 2013 Paper and packaging group Sappi continued efforts to reposition itself as a profitable business in a market with lower demand after reporting lower earnings for the year ended September. Sappi, which fell into the red with a loss of $162-million for the financial year, compared with a profit of... →

Mondi Q3 underlying operating profit up 25%

By: Natasha Odendaal 6th November 2013 Improved market conditions in the packaging and South African businesses, as well as the emerging benefits of last year’s acquistions, had offset the impact of the planned third-quarter shutdowns of a number of dual-listed Mondi’s larger operations worldwide. Mondi on Wednesday reported a 25%... →

Photo by Duane Daws
Mondi CEO David Hathorn

York Timbers calls for reform of affordable housing tender process

By: Natalie Greve 30th September 2013 The existing tender process for the awarding of construction contracts in the affordable housing and social housing sectors requires extensive reform to mitigate the prevalence of substandard work and enable government to reach its delivery targets, asserts York Timbers CEO Pieter van Zyl.... →

Sappi NYSE delisting finalised, starts consultations on Netherlands mill

By: Creamer Media Reporter 30th September 2013 Paper and packaging group Sappi’s delisting of its American depository shares from the New York Stock Exchange was finalised on Monday. The company’s American depository receipts (ADRs) will now be traded in the US through a Level 1 over-the-counter ADR programme. →

Afgri moving to mitigate the effects of weak SA poultry market

By: Schalk Burger 27th September 2013 A good early harvest of yellow maize in the eastern parts of South Africa did not remove the sting from poor performances in a difficult poultry industry, says JSE-listed agricultural services and processing business Afgri CEO Chris Venter. Drought in the western part of the country meant a poor... →

Afgri CEO Chris Venter discusses the company's performance amid severe poultry industry conditions. Camerawork: Nicholas Boyd. Editing: Darlene Creamer.

Sappi to delist from NYSE to reduce costs

By: Natalie Greve 9th September 2013 South Africa-based paper and packaging group Sappi on Monday announced its intention to voluntary delist from the NYSE, citing low trading volumes of its shares, as well as high costs and administrative complexity associated with maintaining its listing and registration in the US. For the 12... →

York to post lower headline earnings a share

By: Creamer Media Reporter 6th September 2013 Forestry and forest products group York Timbers on Friday said its headline earnings a share (Heps) for the 2013 financial year would be between 19% and 24% lower than that recorded in the previous financial year. The group expected to report Heps of between 32c and 34c for the year, compared... →

Pulp-drying machine with energy-saving dryer section

9th August 2013 Voith Paper a division German engineering company Voith of has announced that it now offers complete pulp-drying machines, from headbox to the cross cutter and bale packing, with new vertical arrangement of the rolls in the dryer section. →

Thebe buys 70% stake in mining supplies group Trimrite

By: Creamer Media Reporter 8th August 2013 Thebe Investment Corporation has bought a 70% stake in Realite Trimrite, a supplier of timber-based support products to South Africa’s deep-level mining industry. The group acquired the stake through its subsidiary Thebe Mining Resources (TMR), which focuses on investments in the mining value-chain. →

Mondi reports strong profit growth in SA business

By: Idéle Esterhuizen 8th August 2013 International packaging and paper group Mondi has reported strong performance in its South Africa division, which achieved an underlying operating profit of €44-million in the six months ended June, a 52% increase on the comparable prior year period, boosted by higher domestic selling prices,... →

Photo by Duane Daws
Mondi group CEO David Hathorn

York Timbers appoints CFO

By: Natalie Greve 5th August 2013 JSE-listed York Timbers has announced the appointment of chartered accountant and chartered management accountant Pieter van Buuren as CFO, with effect from October 1. He would replace acting CFO Sean Pretorius, who would take up the position of chief commercial officer. →

Sappi Southern Africa Q3 profit falls as weak European market persists

By: Idéle Esterhuizen 2nd August 2013 JSE-listed paper, pulp and packaging group Sappi’s Southern African arm recorded an operating profit, excluding special items, of R183-million for the third quarter ending June, down from an operating profit of R255-million in the corresponding period in 2012. The lower profit was attributed to... →

Sappi Southern Africa CEO Alex Thiel

Iliad gets nod for timber business sale to York

By: Natalie Greve 26th July 2013 The Competition Commission has unconditionally approved the sale of Iliad Africa’s wholesale timber business to York Timbers for R45.5-million, following a decision by the building materials provider to streamline its portfolio. The transaction, which will become effective on August 1, would see... →

Sappi offloads Usutu subsidiary for R1bn

By: Natalie Greve 1st July 2013 Paper, pulp and packaging group Sappi will sell its Usutu Forest Products subsidiary to timber products provider Montigny Investments for R1-billion in cash. The proceeds from the sale of Usutu, which controlled some 67 000 ha of softwood plantations and a decommissioned pulp mill, in Swaziland,... →

Plan to bolster farm-supporting infrastructure starting to take shape

By: Joanne Taylor 28th June 2013 South Africa’s agriculture sector faces a number of serious challenges and constraints. The spatial-zoning policies enforced before and during apartheid resulted in the extreme marginalisation of black farmers and foresters. →

Phaswana appointed joint Mondi chair

By: Creamer Media Reporter 21st May 2013 International packaging and paper group Mondi has appointed Fred Phaswana as joint chairperson with effect from June 1. Phaswana, who was currently chairperson of Standard Bank Group, Standard Bank of South Africa, the South African Institute of International Affairs and nonexecutive director of... →

Waste and residual biomass can be converted into energy products

10th May 2013 A biomass-to-energy plant is being built to convert sugarcane waste to ‘green charcoal’, which will provide additional revenue for small-scale farmers in Nkomazi, Mpumalanga, says consulting engineering firm Aurecon project manager Jean Bouwer. Second-generation biomass-to-energy technologies... →

Forestry group moves ahead plan to integrate Sabie site, extract more value

By: Samantha Herbst 10th May 2013 Forestry and forest products group York Timbers is hoping to break ground early next year on its R1.5-billion site integration project at its Sabie facilities, in Mpumalanga, once it receives a record of decision from the Department of Environmental Affairs on its environmental-impact assessment... →

Sappi reports ‘disappointing’ Q2 results, dragged down by European market

By: Idéle Esterhuizen 9th May 2013 JSE-listed paper, pulp and packaging group Sappi recorded a 68% drop in operating profit for the second quarter of the year to $40-million, down from $125-million in the 2012 equivalent period, dragged down by worse-than-expected European market conditions. “The results were disappointing.... →

Mondi achieves 35% growth in Q1 underlying operating profit

By: Idéle Esterhuizen 3rd May 2013 JSE- and LSE-listed packaging and paper group Mondi recorded a 35% year-on-year increase in underlying operating profit to €162-million during the first quarter of 2013, in line with its expectations, despite the effects of a one-off write-down in the value of green energy credits of €11-million.... →

York Timbers granted leave to appeal confiscation order

By: Sapa 3rd May 2013 The Nelspruit Magistrate's Court has granted forestry company York Timbers leave to appeal against a confiscation order. The court granted a confiscation order of R450 000 in April, after York Timbers pleaded guilty in 2011 to widening a forest road on its premises in Sabie without authorisation. →

Ngodwana mill receives new pulp dryer

By: Anine Kilian 19th April 2013 Global paper and dissolving wood pulp producer Sappi recently replaced the pulp dryer at its Ngodwana mill, in Mpumalanga, after its old dryer had reached the end of its economic life. →

Sappi to issue notes for bond payment, expansion

By: Natalie Greve 15th April 2013 Sappi Southern Africa will, on April 16, issue senior unsecured rate notes worth some R1.5-billion under its 2011 R5-billion domestic medium-term note programme. The total notes will comprise R255-million senior unsecured floating rate notes due on April 16, 2016, R500-million senior unsecured... →

York Timbers faces penalties for environmental contravention

By: Creamer Media Reporter 10th April 2013 JSE-listed York Timbers has been ordered to pay R450 000, plus interest, in a confiscation order granted to the Department of Environmental Affairs (DEA) by the Nelspruit Regional Court. The DEA on Wednesday said the penalty was granted as York had failed to obtain environmental authorisation... →

York Timbers maintains earnings despite strikes, operational cost pressures

By: Idéle Esterhuizen 12th March 2013 Despite a softening market, industrial action at the Komatiland Forests (KLF) operations, a fire and rising operational costs, forestry and forest products group York Timbers' headline earnings a share for the six months ended December 31, 2012, remained flat at 13c. The company’s revenue rose... →

Pulp demand increases while some paper grades slump

By: Chantelle Kotze 8th March 2013 As the worldwide recession subsides, the South African paper and pulp industry has settled, with some grades of sustainably produced pulp, packaging and tissue paper showing slight growth in demand. →

Focus on high-margin business areas

By: Chantelle Kotze 8th March 2013 A key focus for JSE-listed paper, pulp and packaging group Sappi this year is to return its Southern African business to profitability by implementing various interventions aimed at repositioning the paper business to be more competitive and better serving the requirements of its customers. →

Mpact FY earnings rise to 188.5c a share

By: Natalie Greve 7th March 2013 Packaging and paper manufacturer Mpact’s earnings a share saw a substantial rise to 188.5c for the year ended December 31, 2012, up from 54.9c in 2011. This increase, which was accompanied by a boost in underlying earnings a share from 102.9c to 191.1c, was the result of an improved trading... →

Mondi well-positioned for growth following acquisitions

By: Natasha Odendaal 21st February 2013 JSE-listed Mondi Group would continue the integration and optimisation of its latest acquisitions as the group shifted its portfolio to exposure to higher-growth products. The group injected €1.2-billion into various acquisitions within the growing corrugated packaging and consumer packaging... →

Ngodwana specialised cellulose project to be commissioned in mid-2013

By: Chantelle Kotze 15th February 2013 Paper and packaging group Sappi’s $340m-million GoCell specialised cellulose (SC) expansion project at its Ngodwana Mill, in Mpumalanga, is on track for commissioning by mid-2013 to grow its SC production. →

Mondi expects lower 2012 FY profit

By: Natalie Greve 12th February 2013 JSE-listed Mondi Group expected its underlying operating profit for the fourth quarter ended December 31, 2012, to be above that of the €135-million operating profit recorded in the third quarter of 2012, as well as the €132-million recorded in the fourth quarter of 2011. However, the paper and... →

Sappi expects higher H2 operating profit after Q1 drop

By: Idéle Esterhuizen 6th February 2013 Lower pulp and paper selling prices led to paper and packaging group Sappi’s operating profit dropping to $73-million for the first quarter of the 2013 financial year, compared with an operating profit of $100-million in the first quarter of the 2012 financial year. This was also lower than the... →

Nersa warned of job losses

By: Sapa 17th January 2013 As many as 35 000 people in the sugar cane industry could lose their jobs if Eskom is granted a 16% electricity increase, the South Africab Cane Growers' Association said on Thursday. The increase could result in the closure of four mills, the association's financial affairs director Thomas Funke... →

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