Sappi to shut down South African paper mill by end-August.

By bne IntelliNews August 4, 2011
South African paper maker Sappi said it would shut down its Adamas paper mill in Port Elizabeth by the end of August. The volumes produced at the mill have been transferred to Sappi Enstra and Sappi Tugela mills, the company said in a statement. The company said it expects to take a charge of approximately USD 5mn in respect of the closure costs in the fourth financial quarter ended September 2011. In May, Sappi announced it was planning close the mill in response to difficult market conditions and input cost increases.

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