Sappi sells Cape Kraft recycled packaging mill

© Ernst Cerjak – 123RF.com

The company earlier this month announced the sale of its Enstra Mill and recycled packaging business.

The cash proceeds from the two transactions, just shy of R600m, will be used to invest in new business opportunities, including dissolving wood pulp.

The stock was up 17c to R44.23 on Tuesday morning, giving the company a market value of R23.9bn.

Source: BDpro