Norske Skog Walsum to curtail magazine production

GlobeNewswire Europe

Due to excess capacity in the coated mechanical market, Norske Skog Walsum will from the second half of December temporarily idle paper machine (PM) 4. The machine has an annual capacity of 225 000 tons. Walsum`s second paper machine, PM 10, will continue to produce LWC (Light Weighted Coated) magazine paper at an annual capacity of 200 000 tons.

- The temporary idling of capacity at the Walsum mill in Germany is required to both create a better balance between demand and supply, and to avoid unprofitable production at Walsum. Despite years of great efforts of the staff to reduce costs, the decision is unfortunately unavoidable, said Mr Sven Ombudstvedt, CEO and President of Norske Skog.

Customers will be served from other Norske Skog mills and paper machines. All existing supply commitments will be honored.

Norske Skog
Communications and Public Affairs

For further information:
Norske Skog media:
Vice President Corporate Communication  
Carsten Dybevig
Mob: +47 917 63 117
Norske Skog financial market:
Vice President Investor Relations
Tom Rogn
Mob: +47 948 55 659

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.




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Source: Norske Skog via Thomson Reuters ONE

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