Norske Skog divests its operations in Thailand

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 new owner plans to continue producing newsprint at the mill.

Norske Skog's Singburi mill is said to be the only newsprint producer in Thailand. The mill employs approximately 240 people and has a total newsprint production of 125 000 tpy of recycled newsprint.

- The divestment is part of our strategy to improve Norske Skog's cash flow and financial position, says Sven Ombudstvedt, president and CEO of Norske Skog.

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.