Sappi Ltd., Boston, Mass., announced a new strategic vision to reshape its business through further diversification.
Called 2020Vision, key elements of the group strategy include:
- Achieving cost advantages
- Growing through moderate investments
- Rationalizing declining businesses
- Generating cash to strengthen the balance sheet
- Accelerating growth in adjacent businesses
By 2020, Sappi aims that 25% of composition is derived from packaging and specialties, 25% from graphic papers, 40% from dissolving wood pulp and 10% from new business opportunities such as nanocellulose, biorefinery products and energy.
“Making smart decisions and executing with speed are the most powerful elements of our new values statement. We must continue to make sound business decisions—based on market trends and customer needs—and implement those strategies with excellence to achieve our financial goals. Sappi North America holds the key to economic sustainability with the right focus on optimization, diversification and growth,” says Annette Luchene, vice president and CFO.