Norske Skog's BoD recommends closure of Follum
(Thomson Reuters ONE) -
The Board of Directors of Norske Skog recommends closing production at Norske
Skog Follum. Tomorrow, Thursday, the matter will be presented to the Corporate
Assembly of Norske Skog.
If the Corporate Assembly upholds the recommendation of the BoD, the production
at Follum will according to plan cease no later than 31 March 2012.
The decision of the BoD was reached against the vote from the Follum employee
representative.
- Norske Skog sells less paper than before since many replace paper with
electronic media. We unfortunately no longer need as many paper mills, and
therefore the least competitive mill has to be closed first, says Chair of the
board Eivind Reiten at Norske Skog.
- The majority of the board has concluded that no justifiable alternative to a
closure exists. This is regrettable towards the employees at Follum. We have
been negotiating with Viken Skog regarding a potential sale. It has however not
been possible to reach an agreement which is viable both in a market and an
economic sense, says Chair of the board Eivind Reiten at Norske Skog.
Norske Skog Follum is located in the town of Hønefoss, Norway and has 356
employees. The mill produces improved newsprint, magazine paper and book paper.
Annual production capacity is 290 000 tonnes.
Oxenøen, 7 December 2011
Norske Skog
Communications and Public Affairs
For further information:
Media: Financial markets:
Vice President Corporate Communication Vice President Investor Relations
Carsten Dybevig Tom Rogn
Mob: (+47) 917 63 117 Mob: (+47) 948 55 659
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Norske Skog via Thomson Reuters ONE
[HUG#1569879]
Unternehmensinformation / Kurzprofil:
Datum: 07.12.2011 - 18:57 Uhr
Sprache: Deutsch
News-ID 94859
Anzahl Zeichen: 2576
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