21 Nov 2007

Tax issue in Canada

Norske Skog and the tax authorities in Canada have reached agreement regarding an issue relating to a subsidiary of the company Fletcher Challenge, which was acquired in year 2000. According to the agreement, Norske Skog will pay an amount of around CAD 42,5 million as the final settlement. The amount will be booked as tax cost in the accounts for Q 4, 2007.
Norske Skog has earlier informed that the issue might in the worst case amount to a claim of about NOK 4.5 billion, as described in note 10 to the consolidated accounts for 2006.
Oslo, 21 November 2007
Corporate Communication