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THE SMART NEWS SOURCE | Feb 10 2012 13:01 | LAST UPDATED Feb 10 2012 13:01 |
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Solidarity confirms further layoffs at SappiTrade union Solidarity confirmed having received four section 189 layoff notifications from Sappi, which affects about 959 employees. Sappi job security on the line with restructuringPaper group Sappi says the ongoing restructuring within its South African operations might include retrenchments at some of its production plants. Sappi to rejig business, slash jobsPaper maker Sappi says it will be cutting jobs and restructuring its operations to rein in costs and focus on higher margin businesses. Sappi shuts down Swiss millSouth African paper maker Sappi said on Wednesday it would close its entire Biberist Mill in Switzerland after failing to find a buyer. Sappi to close PE millSappi has started consulting labour about closing down its Adamas Mill in Port Elizabeth, the paper and packaging company said on Monday. Sappi may close Switzerland mill on rising costsSouth African paper maker Sappi said on Thursday it may close its Biberist mill in Switzerland due to tough market conditions. Rich land, poor manAngry northern KwaZulu-Natal communities feel BEE has not benefited them. Sappi to sell stake to black investorsListed paper manufacturer Sappi intends to sell about 4,5% of its issued share capital to black investors, the company said on Wednesday. Sappi full-year profit drops, sees better 2010Sappi, the world's largest maker of fine paper used in glossy magazines, reported on Monday a drop in full-year underlying operating profit. Sappi reduces carbon footprintPaper manufacturer Sappi said on Monday it has reduced its carbon footprint. Jobs under threat as Sappi cuts costs at millsAbout 400 jobs are under threat as Sappi Southern Africa consults employees on reducing costs and improving efficiency, the company said on Monday. Union declares dispute with SappiPaper company Sappi has failed to improve worker conditions and implement "satisfactory" training plans for its workers, Ceppwawu said on Friday. Sappi reports loss of $7-millionSappi reported an operating loss of $7-million for the company's third quarter ending June 30, the paper manufacturer said on Thursday. In the woodsIf there is a company that has been badly affected by the economic maelstrom, it is paper giant Sappi, which lost 80% of its market value. Sappi mulls cut in European fine-paper outputSouth Africa's Sappi is discussing plans to cut European fine-paper output by a further 25% in January on the back of falling demand. Sappi shares slump after rights discountSappi on Friday launched a rights share offer at a discount of 65,2%, sending its shares tumbling more than 7%. Sappi buys M-real graphic paper unit for $1,1bnStruggling Finnish paper maker M-real will sell its graphic papers business to Sappi for €750-million, the companies said on Monday. Sappi's June quarter operating loss $23mSouth African-based pulp and paper producer Sappi on Thursday reported a basic loss per share of 28 United States cents for the quarter ended June. JSE higher led by minersSouth African stocks remained higher at noon on Tuesday, supported by miners on stronger metal prices, but shaky overseas markets and stronger rand limited the upside move, traders said. Local mobile phone firm MTN Group remained the most heavily traded stock by value after it confirmed that it was in share price-sensitive talks with an Indian firm. Sappi lifts second-quarter earningsSappi, the world's biggest maker of fine paper, increased second-quarter basic earnings per share to 68 United States cents from 25 US cents a year ago, the company said on Tuesday. Sappi said operating profit excluding special items rose 33% to $97-million in the three months to end-March from $73-million in the year-ago period. |
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