Norske Skog sells Follum to Viken Skog
(Thomson Reuters ONE) -
Norske Skog has entered into an agreement to sell the Follum site to Viken Skog,
which has ambitious, future plans.
After the decision to close the mill at Follum, Norske Skog has worked to find
relevant stakeholders to create new activities on the site. Norske Skog
considers it a good solution that others can now take over the further
development.
- Norske Skog is very pleased that Viken Skog will now take over the work to
create new activities at Follum. It has been important for us to find a buyer
with ambitions for the future, with support from Buskerud county Council,
Ringerike municipality Council and regional businesses, and not least from the
trade unions at Follum. I wish Viken Skog and the Ringerike region luck with the
exciting development work, says president and CEO in Norske Skog, Sven
Ombudstvedt.
- Viken Skog will develop a new, future-oriented forest-based industry cluster
at Follum. The location and the existing infrastructure, in the heart of
Norway's richest forest areas make Follum a natural centre for an offensive
strategy. It will be a milestone for the Ringerike region that Follum will now
become a centre for sustainable development of environmentally friendly products
from the forest. We have had good cooperation with the Ministry of Trade and
Industry in the process of forging our long-term industrial plans. We now expect
the government to implement measures to promote innovation and research in
forest-based industries, in order to contribute to the huge effort we now face,
says managing director Ragnhild Borchgrevink.
The net sales proceeds are in the order of NOK 60 million. The sales price will
be payable upon acquisition. The acquisition will take place in the second
quarter of 2012. The sale will be implemented through Viken Skog purchasing
Norske Skog Follum AS and Follum Industripark AS, as well as all properties
related to the mill site, including Årbogen. Norske Skog will disassemble and
retain parts of the technical production equipment. Norske Skog will discontinue
production at Follum on Friday 30 March.
Sale of the Follum site will generate a total accounting gain in the order of
NOK 30 million. This will be recognised in the first quarter of 2012. DHT
Corporate Services and Advokatfirmaet Haavind AS acted as Norske Skog's
financial advisors.
Oxenøen, 26(th) of March 2012
Norske Skog Viken Skog
Communication and public affairs Communication department
For more information:
Norske Skog media: Norske Skog finansmarkedet:
Vice President Communication Vice President Investor Relations
Carsten Dybevig Tom Rogn
Phone: +47 917 63 117 Phone: +47 948 55 659
For Viken Skog: For Viken Skog:
Managing director Senior adviser communication
Ragnhild Borchgrevink Linda Camilla Strømsod
Phone: +47 917 59 300 Phone: +47 926 83 644
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#1597048]
Unternehmensinformation / Kurzprofil:
Datum: 26.03.2012 - 07:01 Uhr
Sprache: Deutsch
News-ID 128088
Anzahl Zeichen: 4037
contact information:
Town:
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