Norske Skog divests its operations in Thailand
(Thomson Reuters ONE) -
Norske Skog has agreed to sell its Singburi mill in Thailand to a Thai
industrial group for a total consideration of USD 33 million. The transaction is
part of an already communicated strategy to improve Norske Skog's financial
position. The new owner plans to continue producing newsprint at the mill.
- The divestment is part of our strategy to improve Norske Skog's cash flow and
financial position. We are very pleased to be able to sell the operations in
Thailand to a buyer with long-term plans for the mill, says Sven Ombudstvedt,
president and CEO of Norske Skog.
The Singburi mill has a total newsprint production of approximately 125 000
tons, and is the sole producer of newsprint in Thailand. The mill has 239
employees.
The transaction will have limited operational impact on the rest of Norske Skog.
The financial and operational closing of the transaction is expected to take
place in fourth quarter of 2013. The transaction will give a small financial
gain, and the final accounting effects will be disclosed in the 2013 fourth
quarter financial statements.
Oslo, 7 October 2013
Norske Skog
Communication and Corporate 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#1733898]
Unternehmensinformation / Kurzprofil:
Datum: 07.10.2013 - 08:48 Uhr
Sprache: Deutsch
News-ID 303181
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