Norske Skog divests Tasman industrial site to Oji Fibre
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Norske Skog finalises divestment of shuttered Tasman newsprint mill. Last paper reel was produced more than two years ago.
Norske Skog has completed the sale of the Tasman mill industrial site and remaining mill assets in New Zealand to Australasian pulp, paper, and packaging group Oji Fibre Solutions for approximately NOK70m. The sale of the mill site and certain other related assets, including buildings, electricity equipment, piping, water, and other infrastructure, will generate a total financial gain on sale of approximately NOK57m, Norske Skog announced.
“The sale of the Tasman industrial site to Oji is a material step towards concluding Norske Skog’s long-term business commitment in New Zealand,” commented Geir Drangsland, President and CEO of Norske Skog. Following this transaction with Oji, Norske Skog only retains some rural land areas, and some other land areas previously used for industrial landfilling and water treatment facilities, where there are ongoing processes to complete the required closure steps before a sale process will be executed also for these areas, the company explained.
Norske Skog closed the Tasman newsprint mill at the end of the second quarter of 2021. The mill was geared for the production of 150,000 tpy of newsprint.
