Aug 1 (Reuters) - Sappi Ltd SAPJ.J :
* PROPOSED ACQUISITION BY SAPPI OF MATANE MILL FROM THE RAYONIER ADVANCED MATERIALS GROUP
* SAPPI CANADA ENTERPRISES SIGNS AGREEMENT TO BUY MATANE HIGH YIELD HARDWOOD PULP MILL IN CANADA FROM RAYONIER ADVANCED MATERIALS FOR $175 MILLION
* MATANE HIGH YIELD HARDWOOD PULP MILL HAS A CAPACITY OF 270 000 TONS PER ANNUM OF HIGH YIELD HARDWOOD PULP
* TRANSACTION REPRESENTS AN OPPORTUNITY TO INCREASE SAPPI'S PULP INTEGRATION FOR BOTH ITS NORTH AMERICAN AND EUROPEAN PACKAGING BUSINESSES
* SAPPI WILL FUND ACQUISITION THROUGH INTERNAL CASH RESOURCES AND AVAILABLE DEBT FACILITIES
* INCREASED PULP INTEGRATION TO LOWER CO'S COSTS OF PULP, REDUCE VOLATILITY OF EARNINGS THROUGHOUT PULP CYCLE AND PROVIDE CERTAINTY OF SUPPLY
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