Major unsecured creditor rejects Norske Skog recapitalisation proposal

The first half of 2023 was not particularly successful for Norwegian paper manufacturer Norske Skog. Poor demand led to lower shipments and increased the pressure from excess market capacity. Against this background, and spurred by decreasing energy and raw material costs, publication paper and recycled containerboard...

The first quarter of 2023 was not an easy one for the Norwegian producer of publication and packaging paper, Norske Skog. With sales down by approximately 8 per cent to NOK3.32bn, the group still posted a 10 per cent increase in Ebitda to NOK675m. However, the company’s operating profit of NOK85m was merely a fraction...

Norske Skog wrapped up its 2022 business year with “strong results in uncertain times,” mainly thanks to higher sales prices. Despite deliveries declining by 12 per cent or 240,000 t year on year, the publication paper producer was able to increase its annual sales by nearly 50 per cent. The company attributed the drop...