Pulp and paper producer Sappi is the latest company to reveal heavy damages from the KwaZulu-Natal floods. It says about 45,000 tonnes of inventory was damaged at its warehouses. This includes 30,000 tonnes of dissolving pulp.
Sappi’s claiming R431-million from insurance and expects a payout, reassuring investors that there will be no material impact on its profits for the year. Operations were disrupted at the Saiccor, Tugela and KwaDukuza mills. Some of its workers could not to travel to or from work.
Source: eNCA
In other news – Lingashoni 2 Teasers – May 2022
Coming up on Lingashoni this May 2022: Robert discovers incriminating evidence that could land Sarah in major trouble. An admirer makes moves on Seipati. Japan hits a mini jackpot.
Mandla’s statement in court sinks Robert deeper into trouble. Seipati prepares for her wedding day. Bangizwe finds it hard to stay away from the Shabalalas. Learn more
