Sappi North America completes sale of its hydroelectric assets to Dichotomy Power

BOSTON--(BUSINESS WIRE)--Sappi North America, Inc., a leading producer and supplier of diversified paper, packaging products and pulp, today announced that it has completed the sale its hydroelectric assets on the Presumpscot River in Maine to Dichotomy Power LLC.

“We are pleased to have found a strategic buyer in Dichotomy Power, a company with a wealth of expertise in this area, so Sappi can continue to focus on its core competencies,” said Mike Haws, President and CEO of Sappi North America. “Today’s sale allows us to redeploy resources to further develop our growing businesses.”

About Sappi North America, Inc.

Sappi North America, Inc., headquartered in Boston, is a market leader in converting wood fiber into superior products that customers demand worldwide. Our four diversified businesses – high-quality Graphic Papers, Dissolving Pulp, Packaging, and Specialty Papers deliver premium products and services with consistent quality and reliability. Our high-quality Coated Printing Papers are used for premium magazines, catalogs, books, direct mail and high-end print advertising. We are a leading manufacturer of Dissolving Pulp, which is used in a wide range of products, including textile fibers and household goods. We deliver sustainable Packaging and Specialty Papers for luxury packaging and folding carton applications with our single-ply packaging brands and for the food and label industries with our specialty papers. We are one of the world's leading suppliers of Casting and Release Papers with lines for the automotive, fashion and engineered films industries.

Sappi North America is a subsidiary of Sappi Limited (JSE), a global company headquartered in Johannesburg, South Africa, with more than 12,000 employees and manufacturing operations on three continents in seven countries and customers in over 150 countries. www.sappi.com.