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17 Nov 2005 CLOSING OF THE PANASIA ACQUSITION Norske Skog has today transferred the full consideration of USD 600 million to Abitibi Consolidated for its shares in PanAsia Paper Company. Subsequently, PanAsia will be fully consolidated into Norske Skog financial accounts as of today, and re-named Norske Skog PanAsia. After this deal, Norske Skog is the largest newsprint producer in the world and in Asia. 25 % of the company`s production capacity is now located in Asia. Norske Skog PanAsia has five modern newsprint mills located in China, South Korea and Thailand.
Oxenøen, November 17, 2005
NORSKE SKOG
Corporate Communications Contacts:
Media: Ms. Hanne Aaberg, SVP Corporate Communications, phone + 47 67 59 90 00 or + 47 913 51 681 Financial markets:
Mr Jarle Langfjæran, VP Investor Relations, phone + 47 909 78 434 |