Commenting on the transaction, Sappi Southern Africa CEO Alex Thiel said: "The sale of the Cape Kraft and Enstra mills and the recycled packaging paper business is in line with Sappi Southern Africa's strategy to unlock value from non-core assets and free up resources for investment in dissolving wood pulp, virgin containerboard and other new business opportunities. The sales also support the Sappi Limited strategy to strengthen the group's balance sheet and focus on high-growth opportunities."
Golden Era Group CEO Kishor Chhita remarked: "We are very pleased to be able to acquire this top quality asset from Sappi. It will strengthen our position in the market as a service-oriented company that offers packaging solutions and will further help us to achieve our goal of creating lasting team-based partnerships with our customers."
