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Norske Skog ASA ( (DE:0BQ) ) has shared an update.
Norske Skog has agreed to sell its Boyer mill in Tasmania to Boyer Capital Pty Ltd for approximately NOK 190 million, marking its exit from Australasia. The sale, expected to complete in early 2025, will strengthen Norske Skog’s financial position and allow it to focus on strategic projects in Europe. The Boyer mill, which has been a part of Norske Skog for 25 years, will continue producing publication paper under new ownership, with potential for industrial diversification. This transaction will conclude Norske Skog’s operations in Australasia, focusing its efforts on European mills with a combined capacity of various paper products.
More about Norske Skog ASA
Norske Skog is a prominent producer of publication paper with a strong market presence in Europe. The company operates four mills in Europe, producing publication paper, recycled packaging paper, energy, and bioproducts. With an annual publication paper capacity of 1.6 million tonnes and a growing packaging paper capacity, Norske Skog is focused on diversifying operations and transforming into a high-margin business. The company is headquartered in Norway and listed on the Oslo Stock Exchange under the ticker NSKOG.
YTD Price Performance: -1.57%
Average Trading Volume: 533
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €174.5M
See more data about 0BQ stock on TipRanks’ Stock Analysis page.