From Wikipedia, the free encyclopedia
|Key people||Christian Rynning-Tønnesen (President and CEO), Eivind Reiten (Chairman of the board)|
|Industry||Pulp and paper|
|Products||Newsprint and magazine paper|
|Revenue||NOK 26,468 million (2008)|
|Operating income||▼ (NOK 1,407 million) (2008)|
|Profit||▼ (NOK 2,765 million) (2008)|
Norske Skogindustrier ASA or Norske Skog, (OSE: NSG) which translates as Norwegian Forest Industries, is a Norwegian pulp and paper company based in Oslo, Norway and established in 1962. The corporation is the world's largest producer of newspaper (Newsprint) and magazine paper, with 18 mills around the world.
Norske Skog started up in 1962 with the construction of a paper mill at Skogn in Norway, with the plant opening in 1966 and a second paper machine in 1967. Half the capital for the project was ussued by the Norwegian Forest Owners Association. In 1972 Norske Skog started a cooperation with Follum Fabrikker in Hønefoss. By 1989 Norske Skog had acquired Follum Fabrikker and Union in Skien as well as Saugbrugsforeningen in Halden. With this Norske Skog controlled all the pulp and paper mills in Norway.
The first international acquisition came in 1992 when Papeteries de Golbey in Lorraine, France. Norske Skog later bought the entire plant in 1995. Norske Skog expanded with purchases in Austria in 1996 and the Czech Republic in 1997. In 1998 Norske skog purchased mills in Thailand and the Republic of Korea.
In 2000 Norske Skog bought the British Columbia based Fletcher Challenge Canada with nine mills and Pacifica Papers (formerly MacMillan Bloedel) and created NorskeCanada. By 2006 Norske Skog had sold its shares in NorskeCanada and the company has changed its name to Catalyst Paper.
In September 2005 it acquired the Asian company PanAsia Paper, in turn making Norske Skog Asia's largest producer of newsprint and magazine paper.
The company has suffered from an oversupply in the paper industry and mounting debt. A number of factories have been closed or downsized. The closure of the Union paper mill in Skien in 2005 caused a massive outcry, including protests from a number of politicians. Further closures include the closure of a factory in Steti in the Czech Republic, the indefinite closure of a factory in South Korea, and the closure of one of the three paper machines at Follum. From March 2007 to March 2008, the value of the Norske Skog stock plummeted from over 100 kr to below 18 kr An editorial in Finansavisen could not rule out the possibility of bankruptcy. In September 2008, Norske Skog Korea was bought by both Morgan Stanley Private Equity of Asia and Shinhan Private Equity.
Sven Ombudstvedt will become CEO of Norske Skog in January 2010. Ombudstvedt was previously chief financial officer and a management board member of Yara International and strategy director of Norsk Hydro. Ombudstvedt will succeedChristian Rynning-Tønnesen, who will leave the company to become CEO of Statkraft.
List of mills
As of 2008
- Norske Skog Follum (Hønefoss, Norway)
- Norske Skog Skogn (Levanger, Norway)
- Norske Skog Saugbrugs (Halden, Norway)
- Norske Skog Parenco (Renkum, Netherlands)
- Norske Skog Bruck (Bruck an der Mur, Austria)
- Norske Skog Golbey (Lorraine, France
- Norske Skog Štětí (Štětí, Czech Republic
- Norske Skog Walsum (Duisburg, Germany
- Norske Skog Bio Bio (Concepción, Chile)
- Norske Skog Pisa (Jaguariaiva, Brazil)
- Norske Skog Boyer (Tasmania, Australia)
- Norske Skog Albury (Albury, Australia)
- Norske Skog Tasman (Kawerau, New Zealand)
- Hebei Mill (Zhaoxian, China)
- Shanghai Mill (Shanghai, China
- Singburi Mill (Sing Buri, Thailand)
This list may be incomplete
- Norske Skog Union (Skien, Norway) (closed 2006)
- Södra Cell Folla (Verran, Norway) (sold 2000)
- Södra Cell Tofte (Tofte, Norway) (sold 2000)
- Catalyst Crofton (Crofton, Canada) (demerged)
- Catalyst Elk Falls (Elk Falls, Canada) (demerged)
- Catalyst Port Alberni (Port Alberni, Canada) (demerged)
- Catalyst Powell River (Powell River, Canada) (demerged)
- Jeonju Mill (Jeollabuk-do, Republic of Korea) (renamed to JEONJU PAPER)
- Chongwon Mill (Chungcheongbuk-do, Republic of Korea) (renamed to JEONJU PAPER)
- ^ a b c "Annual Results 2008". Norske Skog. http://capellamedia.ipapercms.dk/NorskeSkog/Reports/Quarterlyreports/Q42008/. Retrieved 2009-03-22.
- ^ "Annual Report 2007". Norske Skog. http://capellamedia.ipapercms.dk/NorskeSkog/Reports/Annualreports/AnnualReport07/. Retrieved 2008-05-27.
- ^ Union scrapped by minimum margin Aftenposten, October 5, 2005
- ^ Her legger Norske Skog ned uten protester e24.no (Norwegian)
- ^ Norske Skog stenger en maskin nrk.no March 4, 2008
- ^ Lavest på 25 år ("Lowest in 25 years") e24.no (Norwegian)
- ^ Hegnar: Ikke utenkelig at Norske Skog går konkurs ("Hegnar: Not unthinkable that Norske Skog will go bankrupt") hegnar.no March 14, 2008 (Norwegian)
- ^ Press release Cision