/ 21 February 2000

SAPPI GETS ASTRALUX OFFER

PAPER and pulp group Sappi said on Friday it has received an offer from Italy’s Favini Group to acquire its Astralux brand of cast coated papers. Sappi said in a statement that acceptance of the offer would result in the production of cast coated papers at its Blackburn mill in Britain ceasing on May 14, 2000 at a cost of 60 jobs. ”We are convinced that the cast coated market requires consolidation,” said Sappi Europe chief executive, Wolfgang Pfarl.