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Sappi shares surge 9% as nearly R20bn joint venture with Finland's UPM announced
The Star
|December 05, 2025
SAPPI'S shares traded 9.27% higher at R23.71 Thursday afternoon after plans with UPM were announced to combine their European graphic paper operations into a standalone R19.94bn (€1.42bn) joint venture (JV) company.
The share price jump comes despite being well below the R51.76 it traded at a year ago, which reflects the challenges being faced by the global paper and packaging sector: rising costs, shifting consumer demand, stricter sustainability regulations and supply chain disruptions. Demand for graphic paper has been in structural decline for decades.
"The proposed JV represents a decisive response to structural changes in the European graphic paper industry, offering a path to strengthen its resilience and provide long-term commitment and supply security to customers," Sappi's CEO Steve Binnie and UPM President and CEO Massimo Reynaudo said in a joint statement.
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