Sappi on Thursday 1 August announced alongside its third-quarter results that it had acquired the Matane hardwood pulp mill in Quebec, Canada, from Rayonier Advanced Materials for $175-million. The company said the acquisition would support its “fast-growing packaging businesses in both North America and Europe.”
The transaction will also reduce the cost of pulp for the company and is part of a pivot to areas with prospects for higher margins. Such diversification is probably needed as Sappi has struggled of late, a point reflected in its share price. Its share price over the past 12 months is down over 50% versus about 15% for rival Mondi . The company’s Q3 results for the three months to the end of June 2019 showed a fall in profit to $8-million from $51-million in the same period last year.
Мы обобщили эту новость, чтобы вы могли ее быстро прочитать.Если новость вам интересна, вы можете прочитать полный текст здесь Прочитайте больше:
Россия Последние новости, Россия Последние новости
Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей
Business Maverick: Apple Earnings: iPhone Maker Should Cut Prices DrasticallyStealthy or direct price cuts on iPhones have cushioned the blow for Apple Inc. It should go even further if it’s serious about changing its complexion.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »
Business Maverick: Neanderthals Should Join Homo Sapiens on the Family TreeThe term “Homo sapiens” is no longer working that well. Neither is the closely related term, “modern humans,” used to describe us and fossils of long-dead people who looked something like us.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »
Business Maverick: Sony CEO Demonstrates How to Manage a Shrinking IconThe Tokyo-based company’s shares rose after it reported a first-quarter profit that beat estimates on strong demand for its image sensors and improved profitability in its smartphone business. The stock climbed as much as 6.6%, the biggest intraday gain in more than two months.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »
Business Maverick: SA unemployment rate hits the highest level since the global financial crisisIn the second quarter of this year, South Africa's unemployment rate spiked to 29% from 27.6% in the first quarter, according to data released on Tuesday 30 July by Statistics South Africa. This was the highest level since 2008, when the economy was being battered by the global financial crisis. You know your economy is screwed when … Join the EFF and ANC. Lots of jobs there. As long as unions continue striking for massive increases and trashing and burning property no sane investor will do business in SA especially with our final junk status looming. Unemployment will rise even further. Proudly brought to you by ANC🤣🤣
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »
BUSINESS MAVERICK: Peter Moyo’s battle with Old Mutual is far from overNow that a high court has ruled that Peter Moyo should be reinstated as CEO, he is still gunning for Old Mutual chairman Trevor Manuel and 12 board members. Moyo wants Manuel and the directors to be declared delinquent under the Companies Act. The board could be fired, which would thrust Old Mutual into a leadership crisis. He must squeeze their jemnandas Good news. Moyo is bad news. Lol you could have acknowledged that he won the case
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »
BUSINESS MAVERICK: Consumers drink while retailers keep the tills active and lights onOne in five South Africans is unemployed and economic growth remains anaemic, but retailers manage to grow, demonstrating that they still have some defensive qualities. sashaplanting As usual, analysts ignoring the informal sector.
Источник: dailymaverick - 🏆 3. / 84 Прочитайте больше »