Sappi acquires Cham Paper

There seems to be no end to consolidation in the paper industry. Latest news: South African paper manufacturer Sappi will acquire competitor Cham paper. This means that the Italian mills in Carmignano and Condino and the Swiss plant in Cham will be taken over. The acquisition will cost about 150M€. Sappi will strengthen its position on the European market for specialty papers and packaging paper. The plants which have been acquire produce 160,000 tons of paper per year. The specialty paper business will continue to operate independently until clearance from the authority has been obtained.