2006 20-F - Sappi

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ORGANISATIONAL STRUCTURE Sappi Limited is the ultimate holding company of the Sappi Group. The following table sets forth the more significant subsidiaries and joint ventures owned directly or indirectly by Sappi Limited. Name of Company Trading Name 37 Country of Incorporation Type of Company % Holding and Voting Power North America S.D. Warren Company.............. Sappi Fine Paper United States Operating 100 Sappi Cloquet LLC................. Sappi Fine Paper United States Operating 100 Europe Sappi Alfeld GmbH................ Sappi Austria Produktions GmbH & Sappi Fine Paper Germany Operating 100 Co KG ......................... Sappi Fine Paper Austria Operating 100 Sappi Deutschland GmbH........... Sappi Fine Paper or Sappi Trading Germany Operating 100 Sappi Ehingen GmbH .............. Sappi Esus Beteiligungs- Sappi Fine Paper Germany Operating 100 verwaltungs GmbH............... Sappi Fine Paper Austria Holding 100 Sappi Europe SA .................. Sappi Fine Paper Belgium Operating 100 Sappi Holding GmbH .............. Sappi Holding Austria Holding 100 Sappi International SA.............. Sappi International Belgium Finance 100 Sappi Lanaken NV................. Sappi Fine Paper Belgium Operating 100 Sappi Lanaken Press Paper NV...... Sappi Fine Paper Belgium Operating 100 Sappi Maastricht BV ............... Sappi Fine Paper Netherlands Operating 100 Sappi Nijmegen BV ................ Sappi Fine Paper Netherlands Operating 100 Sappi Papier Holding GmbH........ Sappi Papier Austria Holding and 100 Holding or Sappi Fine Paper Operating Sappi Trading Pulp AG............. Southern Africa Sappi Management Services Sappi Trading Switzerland Holding and Operating 100 (Pty) Ltd........................ Sappi Management Services. South Africa Management 100 Sappi Manufacturing (Pty) Ltd....... Sappi Manufacturing or Sappi Forest Products or Sappi Fine Paper or Sappi Saiccor or Sappi Kraft or Sappi Forests or Sappi Waste Paper South Africa Operating 100 Usutu Pulp Co. Ltd................. Sappi Usutu Swaziland Operating 100 Asia Jiangxi Chenming Paper Co Ltd...... Jiangxi Chenming Paper China Operating Joint Venture Guernsey Lignin Insurance Co. Ltd............ Lignin Insurance Guernsey Finance 100 34
PROPERTY, PLANT AND EQUIPMENT For a description of the production capacity of our mills, see “—Sappi Fine Paper—Facilities and Operations” and “—Sappi Forest Products—Facilities and Operations”. For a description of the timberlands we own or have recently sold, see “—Sappi Fine Paper— Facilities and Operations—Sappi Fine Paper North America”, “—Sappi Forest Products—Facilities and Operations—Sappi Forests” and “—Supply Requirements”. For a description of our capital expenditures, see “Item 5—Operating and Financial Review and Prospects—Liquidity and Capital Resources”. The following table sets forth the location and use of our principal headquarters, manufacturing and distribution facilities. These facilities are owned unless otherwise indicated. Location Use 38 Approximate Size (1) Sappi Limited Johannesburg, South Africa . Sappi Headquarters (2) 15,078 m² Sappi Fine Paper Sappi Fine Paper North America (3) Boston, Massachusetts . . . . . Headquarters (4) Skowhegan, Maine 34,928 sq ft (Somerset Mill) . . . . . . . . . Manufacturing facility: coated paper, softwood and hardwood pulp 2,355 acres Muskegon, Michigan . . . . . . . Manufacturing facility: coated paper and a warehouse (5) 5,185,000 sq ft Westbrook, Maine......... Manufacturing facility: speciality and high bulk coated paper and research and development facility 275 acres Storage and shredding facility 13,446 sq ft Roll coating facility 13,575 sq ft Allentown, Pennsylvania. . . . Coated paper sheeting facility 30 acres Dayton, New Jersey........ Distribution centre (6) 607,489 sq ft Cloquet, Minnesota . . . . . . . . Manufacturing facility: coated paper and pulp (10) 650 acres South Portland, Maine . . . . . Shared financial and customer service office (11) Sappi Fine Paper Europe 48,433 sq ft Brussels, Belgium.......... Headquarters (9) 3,836 m² Gratkorn, Austria. . . . . . . . . . Manufacturing facility: coated paper and pulp 999,053 m² Maastricht, Netherlands . . . . Manufacturing facility: coated paper and research and development facility 14.7 ha Nijmegen, Netherlands . . . . . Manufacturing facility: coated paper 10.7 ha Lanaken, Belgium ......... Manufacturing facility: coated paper and pulp 35.0 ha Alfeld, Germany........... Manufacturing facility: coated paper, uncoated paper and pulp 332,844 m² Ehingen, Germany......... Manufacturing facility: coated paper and pulp 356,951 m² Blackburn, England . . . . . . . . Manufacturing facility: coated paper 36 ha Wesel, Germany........... Distribution centre (8) 62,140 m²
Page 1 and 2: As filed with the Securities and Ex
Page 3 and 4: OUR USE OF TERMS AND CONVENTIONS IN
Page 5 and 6: FORWARD-LOOKING STATEMENTS In order
Page 7 and 8: 2 Year Ended September 2006 2005 (U
Page 9 and 10: Risk Factors In addition to other i
Page 11 and 12: New technologies or changes in cons
Page 13 and 14: Several customers account for a sig
Page 15 and 16: Maintain a global presence. One of
Page 17 and 18: Major Product Categories Descriptio
Page 19 and 20: market share was negatively affecte
Page 21 and 22: The chart below represents the oper
Page 23 and 24: The following table sets forth appr
Page 25 and 26: Paper North America’s on-line fin
Page 27 and 28: of 860,000 metric tonnes of triple-
Page 29 and 30: a capacity of 60,000 metric tonnes
Page 31 and 32: customers use our products in the p
Page 33 and 34: (1) The following table sets forth
Page 35 and 36: The mill markets paper and excess p
Page 37 and 38: Pulp Sappi Fine Paper North America
Page 39 and 40: equired for its operations. Sappi F
Page 41: • The National Environmental Mana
Page 45 and 46: ITEM 5. OPERATING AND FINANCIAL REV
Page 47 and 48: ) Movement in market prices for our
Page 49 and 50: The recent price history for benchm
Page 51 and 52: Demand from all of the market segme
Page 53 and 54: Raw Material and Other Input Costs
Page 55 and 56: The exchange rate impact on raw mat
Page 57 and 58: Our South African businesses have f
Page 59 and 60: • Any debtors or creditors not in
Page 61 and 62: Year Ended September 2006 Compared
Page 63 and 64: US$28 million. Decreased selling pr
Page 65 and 66: enefit of the reversal of the Usutu
Page 67 and 68: accounting mismatch, as a result of
Page 69 and 70: South African residents, who are na
Page 71 and 72: The increase of US$11 million in fi
Page 73 and 74: June 2010. The OeKB A tranche and t
Page 75 and 76: impact on liquidity varies accordin
Page 77 and 78: Contractual Obligations We have var
Page 79 and 80: mill is located in Nanchang, the ca
Page 81 and 82: product pricing, raw material costs
Page 83 and 84: flows of the related underlying exp
Page 85 and 86: increases, health care cost trends,
Page 87 and 88: alance sheet date. Risks, uncertain
Page 89 and 90: If the Group had applied IFRS 3 ret
Page 91 and 92: IFRS. The Group did not apply the e
Page 93 and 94:
Where BEE equity credentials are ob
Page 95 and 96:
Environmental Matters We operate in
Page 97 and 98:
Klaas de Kluis (70) (independent).
Page 99 and 100:
Mark Richard Thompson (54) BCom, BA
Page 101 and 102:
Audit Committee An Audit Committee
Page 103 and 104:
estructuring initiatives that occur
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Levies Act, was paid via Internal R
Page 107 and 108:
Pursuant to the Companies Amendment
Page 109 and 110:
on Restitution of Land Rights and a
Page 111 and 112:
(“the Depositary”) with respect
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• any proposal concerning the ado
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Voting Rights Subject to any rights
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equest not less than one-twentieth
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Financial Assistance The Bill enhan
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At the Annual General Meeting of Sh
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African shareholders will be paid t
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purpose of Capital Gains Tax in Sou
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Distributions. The gross amount of
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US Federal Income Tax Consequences
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PART II ITEM 13. DEFAULTS, DIVIDEND
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the controls may become inadequate
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ITEM 16E. PURCHASES OF EQUITY SECUR
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4.10 Credit Facility, dated May 7,
Page 139 and 140:
SAPPI Group Annual Financial Statem
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SAPPI GROUP INCOME STATEMENT for th
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SAPPI GROUP CASH FLOW STATEMENT for
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1. BUSINESS SAPPI NOTES TO THE GROU
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SAPPI NOTES TO THE GROUP ANNUAL FIN
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4.2 Employee cost SAPPI NOTES TO TH
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SAPPI CONDENSED COMPANY BALANCE SHE
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SAPPI CONDENSED COMPANY STATEMENT O
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5. OTHER INCOME 2006 2005 ZAR milli
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2006 20-F - Sappi

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