“I am pleased to report that during the past quarter Sappi delivered profits up 81% from a year ago, reduced debt by a further 17% (US$265 million) year-on-year. We also repaid US$400 million in bonds from cash reserves which will generate savings of approximately US$21 million per annum on our net interest charge. “Sappi’s third quarter is seasonally and historically its weakest quarter due to the slow-down in business activity during the Northern Hemisphere summer holiday period and Sappi’s choice to use this quarter to undertake major annual maintenance shuts. The past quarter’s earnings (EBITDA ex special items) at US$155 million where almost flat on a year ago. Higher volumes were offset by higher raw material prices and a stronger Rand/Dollar exchange rate.
UPM is simplifying the Ultra grade line and dropping “Plus” from certain product names. Please note the changes below will be effective with orders placed January 1, 2017.
1. “UPM Ultra Plus H” from European mills will change to “UPM Ultra H”
2. “UPM Ultra Plus Silk H” from European mills will change to “UPM Ultra Silk H”
3. “UPM Ultra Plus G” will change to “UPM Ultra G”
4. “UPM Ultra Plus Silk G” will change to “UPM Ultra Silk G”
No changes will be made to Ultra products from the UPM Blandin mill:
* UPM Ultra H NA
* UPM Ultra Plus H NA
* UPM Ultra Silk H NA
* UPM Ultra Plus Silk H NA