| Financial Information | ||
|---|---|---|
| 2002 | 2001 | |
| Net Sales (US$M) | 3,729 | 4,184 |
| Net Earnings (US$M) | 220 | 138 |
| Note: Financial year end is in September | ||
Its stock symbol on the NYSE is SPP.
Sappi got its start in December 1936 as South African Pulp and Paper Industries Limited. Its first pulp and paper mill was built near Springs, South Africa. In 1973 the company was renamed Sappi Limited. In 1980 Sappi created a new division, Sappi Timber Products, to specialize in sawmilling. In 1992 the company acquired German paper producer Hannover Papier making Sappi one of the largest European producers of coated woodfree paper. In 2002 Sappi purchased Potlatch Corporation's coated fine paper business and its pulp and paper mill in Cloquet, Minnesota.