Sappi Considering Cuts in Coated Paper Production in 2009
Jan. 8, 2009 - Sappi Ltd.'s chief executive indicated that the company is considering cutting production of coated fine paper in Europe by as much as 25 percent.
“We are assessing demand and production,” said Ralph Boettger, Sappi's chief executive officer in a telephone interview from the company’s headquarters in Johannesburg, South Africa yesterday.
"Demand is still slow. A reduction is likely and a decision will be made next week," he added.
Sappi cut last month’s European production of coated fine paper by 20 percent, or 40,000 tons. Boettger said at the time the company would be monitoring supply and production on a “month by month” basis and that Sappi would not produce more than needed.
SOURCE: Bloomberg News