Norske Skog extends consent deadline for the board’s recapitalization proposal

Norske Skog’s EBITDA in the second quarter of 2020 was NOK 138 million, a decrease from NOK 379 million in the first quarter of 2020, mainly due to national restrictions on movement of goods and people following the outbreak of the corona pandemic. The restrictions had severe negative impact on operations due to a sudden and considerable drop in demand for publication paper. Operating earnings in the second quarter of 2020 were NOK -122 million compared to operating earnings of NOK 90 million in the first quarter of 2020 impacted by impairment recognized in the quarter. Net loss in the quarter was NOK 59 million compared to a net loss of NOK 374 million in the previous quarter. The previous quarter was impacted by unrealised currency loss that was only partially reversed in the second quarter as NOK was stronger at the quarter end. Cash flow from operations was NOK -109 million in the quarter compared to NOK 470 million in the previous quarter.

Ahlstrom-Munksjö continues to grow its attractive Filtration business as customer demand increases globally. In the Filtration and Performance business area, the company will invest about EUR 28 million to expand manufacturing capacity as well as product capabilities. The project will start in 2018 and is expected to be completed during the first half of 2020. Fulvio Capussotti, Executive Vice President of Business Area Filtration and Performance, states: “This investment will enable us to create additional capacity in Turin, Italy, and will allow us to support growing demand for high-end filtration materials. Turin is already Ahlstrom-Munksjö’s largest plant globally and this investment will further consolidate our position as one of the leading global platforms for high-performance filtration material development and production. This investment also includes rebuilding and modification of our existing plants in Malmedy, Belgium and in Ställdalen, Sweden. Click Read More below for additional information.

Nippon Paper Industries launches "b7 Light", a new product in the "b7" series. The new product will be produced with the PM N4 and CM 4 at Nippon Paper Industries' Ishinomaki Mill in Japan. The "b7" series uses Nippon Paper Industries' unique bulking technology to produce well-textured coated paper that achieves low base weight and high paper thickness. The paper is available in 67g/m2, 77g/m2, 87g/m2 and 97g/m2 at 10g/m2 unit in terms of the base weight, and designed under a lineup concept similar to that of b7 TRANEXT in terms of paper thickness. Click Read More below for additional detail.