Sappi to Sell South African Pine Forests in Move Toward Pulp
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Sappi Ltd., the world’s biggest producer of dissolving wood pulp, will raise about $60 million from the sale of South African pine forests as more focus on higher-margin products reduces the need for such trees.
“We are going through a process to dispose” of 30,000 hectares (74,000 acres) of forests in the Mpumalanga province, Chief Executive Officer Steve Binnie said by phone today from Johannesburg. “It should be concluded probably early in the new financial year” starting Oct. 1.