Sappi (SPP +3.1%) trades higher after the maker of paper and pulp products announces a series of...

|About: Sappi Ltd. ADR (SPPJY)|By:, SA News Editor

Sappi (SPP +3.1%) trades higher after the maker of paper and pulp products announces a series of restructuring moves for its underperforming European and South African operations. Sappi expects to take restructuring charges of ~$160M for FQ4 '11, which ended in September.