Sappi completes acquisition of Canadian pulp mill
In 2019, Sappi Limited (Sappi) completed the purchase of Matane Mill in Quebec Canada from Rayonier Advanced Materials (RYAM). The high yield hardwood pulp mill increases the company’s pulp integration for its packaging businesses in both North America and Europe and supports the company’s strategy to pursue higher growth segments. The acquisition also has significant cost implications for the company, enabling it to reduce the volatility of its earnings and lower pulp prices by establishing a more certain supply.
M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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