Norske Skog and Halden municipality agree on property taxes and port areas
(Thomson Reuters ONE) -
Norske Skog and Halden municipality have agreed a settlement for the valuation
of the mill assets at Norske Skog Saugbrugs in Halden. For years there has been
an ongoing dispute both within and outside the criminal justice system between
Norske Skog and Halden municipality over the size of the property tax. The
parties have today signed an agreement whereby the tax base is agreed for coming
years and for a settlement of previous years. As part of the settlement
agreement, the parties agree to change the agreement related to the development
of the southern port area of Sauøya to Norske Skog Saugbrugs.
The parties have agreed upon the principles for tax valuations of the assets
from 2015 and beyond. The tax basis from 2015 and beyond will be NOK 1.7
billion. Norske Skog Saugbrugs will until the next tax valuation in 2019, pay
NOK 12.0 million annually in property taxes to Halden municipality. Norske Skog
Saugbrugs has paid NOK 15.6 million annually in property taxes. Norske Skog
Saugbrugs will be refunded NOK 8.6 million in excess property taxes paid for
prior years.
The southern port area of Sauøya will remain in Norske Skog Saugbrugs
possession. The municipality previously entered into an agreement with Saugbrugs
in 2007 and 2010 for the development of Sauøya for port activities with a clause
to return the area to Saugbrugs if the plans were not implemented. Halden
municipality will have right of first refusal at market price if Saugbrugs
choose to sell the port areas to others.
CEO of Norske Skog Sven Ombudstvedt is pleased with the agreement, "Norske Skog
is fighting to keep costs down every day. Property taxes are an additional
burden many of our competitors do not have. We are satisfied that the
municipality has approved our value assessment of the mill."
Norske Skog
Corporate communication and corporate affairs
For further information:
Norske Skog media: Norske Skog 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 to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#2016409]
Unternehmensinformation / Kurzprofil:
Datum: 30.05.2016 - 13:00 Uhr
Sprache: Deutsch
News-ID 474330
Anzahl Zeichen: 3168
contact information:
Town:
Oslo
Kategorie:
Business News
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"Norske Skog and Halden municipality agree on property taxes and port areas"
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