Norske Skog in Talks with Potential Buyer for Parenco Mill

Located on the Rhine River (Netherlnads), Norske Skog Parenco has a production capacity of 265,000 tpy of newsprint and magazine grade papers.

Nov. 8, 2011 - Norske Skog said that it has reached a stage in negotiations with a potential buyer of the Norske Skog Parenco mill and the recovered paper business of Reparco Group in the Netherlands whereby Norske Skog has filed a request with Parenco's and Reparco's work councils for their advice on a proposed sales transaction.

If an agreement with the potential buyer is reached, the mill will be converted out of publication paper after 2012, Norske Skog said.

Norske Skog will provide more information when a transaction is presented to and approved by all the relevant governing bodies of the two parties.

Norske Skog Parenco employs about 265 workers and has the capacity to produce 265,000 tpy of magazine paper grades and standard newsprint from 100% deinked recovered paper on one paper machine (PM 1).

SOURCE: Norske Skog