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Forest Products News

Steep European timber price hikes tapering off - Mondi

By: Matthew Hill     1st August 2007 JSE- and LSE-listed paper and pulp company Mondi said that it had seen timber price increases for its central eastern European operations of as much as 20% for the six months ended June 30, but that these cost hikes seemed to have simmered down. 

Plantation fires damaged less than 5% of Mondi's local forests - CEO

By: Matthew Hill     1st August 2007 Paper and packaging firm Mondi, which separated from diversified mining giant Anglo American last month, said on Wednesday that the fires that had ravaged forests in Mpumalanga since Friday would not have a significant financial effect on the firm. 

York estimates 6 000 ha of plantations damaged by fires

By: Liezel Hill     30th July 2007 Fires, which began over the weekend, had damaged an estimated 6 000 ha of JSE-listed York Timber's plantations, the company reported on Monday.  

Mbeki identifies scaled-up local manufacture as top priority

By: Terence Creamer     29th July 2007 Large-scale value-added local manufacture had been identified as a top priority for the next two years, the President Thabo Mbeki said on Sunday, in his report back to the media on the outcomes of the mid-year Cabinet Lekgotla.He also revealed that embattled Trade and Industry Minister Mandisi... 

Newly empowered timber firm mulls Eastern Cape expansion

By: Christy van der Merwe     27th July 2007 South Africa's largest lumber product producer, Hans Merensky Timber (HMT), is newly empowered, with a combination of entities consisting of Vuka Forestry, Wiphold, and an HMT staff trust gaining ownership of a 26% stake in the business. 

Austro to buy three equipment firms for R130,5m

19th July 2007 JSE-listed equipment supplier Austro has agreed to buy three local companies, Generator Hire, the Neptune group and Gearing Moss, for a total of R130,5-million, the firm said on Thursday. 

Dual-listed Mondi believes its empowerment initiatives are in line with new forestry scorecard

By: Olivia Soraya Spadavecchia     13th July 2007 Paper and packaging group Mondi, which recently dual-listed on the London Stock Exchange and the JSE, says that it is in line with the objectives of the new Forestry broad-based black economic-empowerment (BBBEE) Charter. 

York wraps up Global Forests acquisition

By: Nelendhre Moodley     12th July 2007 JSE listed forest products company York Timber (York), which acquired Global Forest Products and South African Plywood (GFP) for some R1,7-billion, on Thursday confirmed that the company had met all suspensive conditions pertaining to the deal. 

HM Timber sells 26% to black group, including Wiphold, Phosa's Vuka

By: Nelendhre Moodley     12th July 2007 Lumber product manufacturer Hans Merensky on Thursday announced that its subsidiary, HM Timber had signed a R260-million black economic-empowerment (BEE) transaction with Wiphold, Vuka Forestry Holdings (Vuka) and its staff. 

KZN fires likely to costs Sappi $5m

By: Creamer Media Reporter      11th July 2007 Forest products group Sappi reported on Wednesday that the costs associated with runaway fires that arose in the KwaZulu-Natal Midlands in late June were likely accumulate to some $5-million after tax. 

EIB approves R235m loan for Mpumalanga panel-board factory

By: Nelendhre Moodley     11th July 2007 The European Investment Bank (EIB), the European Union's development bank, has made a 25-million euro (around R235-million) loan to wood-based panels manufacturer Sonae Novobord, a 100%-owned subsidiary of the Sonae Industria SGPS multinational group. 

Mondi unveils Turkish, Austrian acquisitions worth R1,5bn

By: Matthew Hill     6th July 2007 Paper and packaging firm Mondi, which listed on the JSE and LSE on Tuesday, revealed on Friday that it would buy a majority stake in a Turkish packaging business and the entire share capital of an Austrian packaging company, in deals totalling nearly R1,5-billion.. 

Mondi Packaging gets competition approval for Lenco acquisition

By: Liezel Hill     4th July 2007 The Competition Tribunal on Wednesday unconditionally approved Mondi Packaging South Africa’s acquisition of plastic packaging firm Lenco for R780-million.  

William Tell lists on AltX

By: Nelendhre Moodley     3rd July 2007 Wood-based panels manufacturer, William Tell Holdings (William Tell), on Tuesday floated its shares on the JSE's AltX.  

Unbundled Mondi ready to roll out ambitious growth plans

By: Matthew Hill     3rd July 2007 Paper and packaging firm Mondi Ltd, which floated its shares on the JSE on Tuesday, after separating from mining giant Anglo American, plans to spend 875-million euros on brownfields growth projects in Russia and Poland, and R4,6-billion in South Africa, it said at the listing function in... 

William Tell completes private placement ahead of listing

By: Nelendhre Moodley     2nd July 2007 Wood-based panels manufacturer William Tell, which will make its debut on the JSE�s AltX on Tuesday, has successfully completed a private placement of 29-million shares, at 425c. 

Sappi may have lost 5 900 ha of forest after fires

By: Mariaan Webb     2nd July 2007 Paper and pulp manufacturer Sappi said it had suffered "huge losses" after some 5 900 ha of forest plantation was damaged by runaway veld fires in the KwaZulu-Natal Midlands last week. 

Mondi, Anglo 'entirely unrelated' from July 3

By: Martin Creamer     4th June 2007 From July 3, Mondi and Anglo would be entirely unrelated businesses, Mondi CEO David Hathorn said on Friday. None of the existing Anglo directors would be directors of Mondi, he said on the eve of Mondi's three-week pre-listing roadshow, which began on Monday.  

Joburg to be Mondi HQ after July 3 SA-UK dual listing

By: Martin Creamer     1st June 2007 Johannesburg will become the headquarters of the large Mondi paper group when it dual lists on the London and Johannesburg stock exchanges on July 3, Mondi CEO David Hathorn said on Friday. Hathorn said that there would also joint chairpersonship consisting of Cyril Ramaphosa, who leads... 

Steinhoff agrees to sell furniture unit for R1,37bn

By: Nelendhre Moodley     24th May 2007 JSE-listed furniture manufacturer Steinhoff Africa Holdings on Thursday announced that it had reached agreement with a private equity group lead by Absa Capital for the disposal of Furnco for R1,375-billion, through a leveraged buyout (LBO). 

Illovo headline earnings up 46%, production falls

By: Mariaan Webb     22nd May 2007 South African sugar producer Illovo Sugar lifted full-year headline earnings by 46%, to R515,3-million, and headline earnings a share by 43%, to 149,1c a share, on the back of higher sugar prices, which helped offset the impact of lower production in South Africa and Tanzania. 

Austro lifts interim headline earnings 12%

21st May 2007 Woodworking equipment group Austro on Monday reported headline earnings of R12,01-million for the six months ended February 28, 2007, up 12% from the R10,72-million achieved in the same period last year.  

Sappi looks to increase efficiencies ahead of expected price rises

By: Christy van der Merwe     18th May 2007 Pulp and paper manufacturer Sappi reported good overall performance for the second quarter and half-year ended March, with cash generated by operations 50% higher than this time last year, with sales of $1,318-billion. 

Sappi contains capital creep to 5% on Saiccor expansion

By: Mariaan Webb     8th May 2007 The $460-million (around R3-billion) Saiccor expansion project of paper producer Sappi might be 5% over budget in dollar terms by the end of the project in 2008, chairperson Eugene van As said on Tuesday. 

Sappi sees second European price hike by year-end

By: Mariaan Webb     8th May 2007 The European market could face a further fine-coated paper price hike before the end of the year, as input costs, particularly wood, continued to soar, South African-based Sappi chairperson Eugene van As said on Tuesday. The company increased its prices for fine-coated paper in Europe. This price... 

Sappi appoints nonexecutive director

1st May 2007 South African pulp and paper manufacturer Sappi on Monday announced that Karen Osar would join its board with effect from May 1, as a nonexecutive director. 

Anglo American expects to conclude Mondi unbundling in July

By: Liezel Hill     17th April 2007 Diversified miner Anglo American expects to complete the unbundling of paper and pulp producer Mondi during July this year, and will continue exploring options to sell its stake in AngloGold Ashanti in an orderly manner over the next two years, incoming CEO Cynthia Carroll said on Tuesday. 

York Timber concludes R1,7bn acquisition

By: Mariaan Webb     2nd April 2007 Forest products company York Timber has concluded and signed a R1,7-billion deal to buy 100% of Global Forest Products (GFP) and South African Plywood from the Global Environmental Fund (GEF), making York Southern Africa’s largest vertical-integrated sawmilling company. Speaking in Johannesburg,... 

Mondi Packaging buys Lenco

By: Liezel Hill     28th March 2007 Investment firms Actis and Brimstone have agreed to sell their respective 56,6% and 25% stakes in plastic packaging firm Lenco to Mondi Packaging South Africa, the companies said on Wednesday. 

NCT may partner Swedish firm to build KZN mill

By: Nelendhre Moodley     22nd March 2007 Independent timber grower NCT Forestry Co-operative (NCT) on Thursday announced that it had named the Rottneros Group as a potential partner for a proposed eucalyptus-based bleached, chemi, thermo, mechanical pulp mill at Richards Bay, in KwaZulu-Natal. 

Cabinet to consider draft forestry strategy

By: Nelendhre Moodley     13th March 2007 A draft strategy for the forestry, timber, pulp and paper industry, which has been approved by the Department of Trade and Industry (DTI) is expected to go to Cabinet for consideration within the next month, a DTI spokesperson told Engineering News Online, on Tuesday. 

Cellulose project progress

By: Ollie Madlala     3rd November 2006 South African paper manufacturer Sappi has appointed a Murray & Roberts (M&R) Engineering Solutions and AF Process joint venture to assist with the implementation of its $460-million (about R3-billion) Saaicor expansion project. 

Harness energy that is being lost, regulation engineer urges South African industry

By: Laura Tyrer     1st September 2006 In a country ranked among the top energy-intensive economiesin the world, South Africa is going all out to find strategies to tackle its ever-increasing power demands. With national power producer Eskom reportedly set to face severe supply-demand challenges withinthe next three years, electricity... 

Embattled paper group optimistic about next year

By: Ollie Madlala     18th August 2006 Embattled South African paper manufacturer Sappi says it hopes to return to reasonable profitability next year. 

Forest-products fime hopeful that expansion project will begin soon

By: Ollie Madlala     19th May 2006 Paper manufacturer Sappi has completed the environmental-impact assessment (EIA) for its proposed Saiccor expansion project and has submitted it to the Kwazulu-Natal Department of Agriculture and Environmental Affairs for approval. 

Biotech and Nanotech hold promise for pulp and paper innovation

By: Keith Campbell     25th November 2005 Advances in biotechnology and nanotechnology have great potential for the pulp-and-paper manufacturing industry. 

Shortage of roundwood sparks industry debate

By: Nicola Mawson     25th July 2005 Concerns over the monopolisation of roundwood were high on the agenda at Yorkcor's annual general meeting held at the weekend. 

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