Mohawk Announces Price Increase on Envelope Products

Catalyst Paper, which owns the Crofton pulp and paper mill, expects its business will be impacted by the newly-announced punitive duties on newsprint sales to the US if the ruling…

Some media reports have presented at somewhat inaccurate description of the actual situation of the Norske Skog group. Norske Skogindustrier ASA is still a listed company with a separate board elected by the shareholders at the extraordinary general meeting of Norske Skog on 24 August this year. The board of Norske Skogindustrier ASA consists of: Christen Sveaas (Chair), Eilif Due, Jon-Aksel Torgersen, Ragnhild Wiborg and Annette Malm Justad as members elected by shareholders. Employee-elected board members are Cecilie Jonassen, Paul Kristiansen and Svein Erik Veie. Norske Skogindustrier ASA is the parent company of a group with a complex corporate structure that comprises several subsidiaries, as shown in the attached overview of the company structure. In Norske Skog AS, which is a subsidiary of the Norske Skogindustrier ASA group, a new board was elected yesterday. Newly elected board members of Norske Skog AS are Sven Ombudstvedt (Chair) and Nils Ingemund Hoff. In addition, Rune Sollie (CFO of Norske Skogindustrier ASA) will remain as board member. Holders of the EUR 290 million bond maturing in 2019 (SSN) have, according to the bond terms, the right to elect a new board of Norske Skog AS, as this bond is in default and has been accelerated and declared payable immediately in its entirety. The EUR 290 million bond has security against inter alia the shares of Norske Skog AS. Click Read More below for additional detail.

Italian tissue manufacturer EuroVast fired up a new Modulo-Plus tissue machine supplied by Toscotec at its Cartiera della Basilica paper mill in Villa Basilica, Lucca, Italy. PM5 is running efficiently at the speed of 1,600 m/min and since its start-up in February, it has exceeded the project’s production targets with excellent results in energy consumption. The new line completely replaced the mill’s existing PM5, a suction breast roll machine. The sheet width is 2,770 mm and the production capacity is over 30,000 tpy. It is equipped with a single press TT BlindDrilledPressRoll, a TT SYD and gas-fired TT Hoods. PM5 produces toilet tissue, kitchen towels and napkins from 100% pre-dried virgin pulp. EuroVast also purchased a complete service package including dismantling operations, erection, training, commissioning, and start-up assistance.