Sappi Europe has announced that prices for its coated woodfree (CWF) sheets and reels will rise by between 6%-8%, depending on “country-specific circumstances” as of 1st September.
According to a spokeswoman, the increase was inevitable due to “today’s cost structure and the low levels of profitability” impacting the paper manufacture. The increase will apply to all Sappi CWF brands including Magno, Quatro, GalerieArt, Vantage, Royal, Furioso and Galerie as well as white-label products manufactured for merchants. The Sept. increases represent the first Sappi Europe price rises in 2014, although according to one merchant other manufacturers are expected to follow suit in due course.
In a separate development, EU and industry leaders have launched a new European Joint Undertaking on Bio-based Industries (BBI). $4.95 billion will be injected into the European economy between 2014 and 2024 - $1305 million from the European Commission and $3.61 billion from the Bio-based Industries Consortium (BIC) - to develop an emerging bioeconomy sector. Berry Wiersum, CEO of Sappi Europe, one of the major European companies represented by the Bio-based Industries Consortium (BIC) underlined his company’s commitment to investing in collaborative research, development and demonstration of bio-based technologies: “The BBI Joint Undertaking is special because it will drive the use of renewable resources and innovative technologies for greener everyday products. The public-private partnership structure increases the likelihood that a new and sustainable European industry will be born.”