Update on strategic projects in Norske Skog

05 Sep 2024 07:00 CEST

Containerboard production at Norske Skog Golbey in France is expected to start
during the first quarter of 2025, previously the second half of 2024.
Commissioning of roll warehouse, containerboard winder, and the effluent station
is ongoing. In addition, pre-commissioning (I/O check) has started for the OCC
drum pulper and will start in early October for the paper machine (PM1).
However, work relating to piping and electrical cabling has taken longer than
planned. The net investment amount has been increased to EUR 320 million from
previous EUR 300 million as a result of the revised timeline and the addtional
work required. Containerboard production at Golbey will become part of the
Packaging Paper accounting segment from the first quarter of 2025.

The BCTMP main study at Norske Skog Saugbrugs has commenced with support from
engineerng consultants and vendor dialogues. Final investment decision is still
expected during the first half of 2025.

- Completion of the containerboard project at Golbey remains a top priority
across the Norske Skog group and for me personally. We will do our utmost to
complete the project within the updated time frame and budget, and look forward
to start customer deliveries. This project has provided us with important
lessons that will be implemented in the BCTMP project at Saugbrugs, says CEO
Geir Drangsland.

For further information:

Norske Skog media:
Vice President Communication and Public Affairs
Carsten Dybevig
Email: carsten.dybevig@norskeskog.com
Mob: +47 917 63 117

Norske Skog financial markets:
Vice President Corporate Finance
Even Lund
Email: even.lund@norskeskog.com
Mob: +47 906 12 919

More information:
Access the news on Oslo Bors NewsWeb site

627041_20240905 - Norske Skog - Strategic projects.pdf