Today, Norske Skog has acquired Statoil's shares in Industrikraft Midt-Norge AS (IMN) and signed an agreement with Nord-Trøndelag Elektrisitetsverk AS (NTE), to bring Norske Skog's ownership share of IMN up from 10 to 40 per cent.

 

Norske Skog was one of the founders of IMN in 1997. In 2000, IMN received a licence to build a cogeneration plant at Skogn. Power production will be fuelled by gas and biomass.

 

With its increased ownership share in IMN, Norske Skog intends to take a more active part in the essential task of improving the current power situation in Mid-Norway and thus contributing to further industrial development in the region.

 

After the changes in ownership structure in IMN, the shareholders are as follows:

 

NTE   40%
Norske Skog 40%
Trondheim Energi 10%
Elkem  10%

 

The owners of IMN have agreed that the company's business address will be relocated to Skogn in the course of the autumn 2007. The company's new address, as well as the election of a new board reflecting the new ownership structure will be carried out at an extraordinary general assembly.

 

Oxenøen, 2 July 2007

 

Norske Skog

Corporate communications

More information from

 

Vice president
Corporate communications
Tom Bratlie

 

Phone: +47 67 59 93 34
Mob: +47 905 21 904