Norske Skog Agrees to Sell Nordic Paper
Jan. 9, 2006 (press Release) - Norske Skog and M. Peterson & Søn A/S have reached an agreement for the sale of Nordic Paper, which has been owned 45 % by Norske Skog and 55 % by Peterson. The buyers consist of two people from Nordic Paper's current management team as well as external investors.
The sale will be booked in Q1 2006, and result in a small gain for Norske Skog.
Nordic Paper was established in October 2001, and is the world's largest producer of grease-proof paper grades. It has two mills in Norway, and one in Sweden. The company has 400 employees and sales in 2005 of NOK 825 million.
SOURCE: Norske Skog