(Corrects allocation of capital spending in first paragraph.)
Sappi Ltd. will spend almost $200 million in its fiscal fourth quarter, mostly on its chemical cellulose expansion, including conversions at its Cloquet mill, Chief Executive Officer Ralph Boettger said.
Work at Cloquet is “going well” and the facility is expected to be operating by the third quarter of 2013, Boettger said in Johannesburg today.
To contact the reporter on this story: Janice Kew in Johannesburg at email@example.com
To contact the editor responsible for this story: Hilton Shone at firstname.lastname@example.org