A process has been initiated at Norske Skog for demerging most of its real property in Norway which is not related to paper production. Since the resulting property company will be a wholly-owned subsidiary of Norske Skogindustrier ASA, the consolidated balance sheet will not be affected by this transaction.

 

The most important properties include Klosterøya in Skien, the head office with surrounding land in Bærum outside Oslo, and a farming and residential area in Trondheim. This proposal will be considered by the board of directors at its meeting on 1 March, and is subject to final approval by the annual general meeting on 12 April.

 

Oxenøen, 7 February 2007

 

Norske Skog

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