Sappi North America announced the approval of a $418 million capital project to convert Paper Machine No.2(a coated freesheet machine)at its Somerset Mill in Skowhegan,Maine,to increase its capacity and produce solid bleached sulfate board(SBS)products.The project will be funded from free cash flow."This move complements our long-term Thrive25 strategy,which focuses on growing our portfolio in packaging and specialty papers,pulp and biomaterials,"said Mike Haws,President and CEO of Sappi North America."By investing in our business to pursue growing areas of demand,we can remain profitable and competitive in the global marketplace"
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