Milestone event with start of containerboard production at Norske Skog Golbey

22 May 2025 19:47 CEST

Norske Skog has reached an important and historic milestone with start of
recycled containerboard production at the Golbey mill. The total investment of
approximately EUR 400 million makes it the single largest investment in Norske
Skog’s history. The state-of-the-art containerboard machine will increase Norske
Skog's containerboard capacity with 550 000 tonnes bringing the group’s total
containerboard capacity to 760 000 tonnes. Norske Skog is a leading independent
supplier of recycled containerboard in Europe.

“The start-up of the world-class containerboard machine at Golbey is a
significant milestone for Norske Skog and for everyone working at the Golbey
mill. Although the project has been challenging, we want to thank everyone
involved and look forward to delivering volumes to our customers. The
containerboard business will become an important and strong contributor to
Norske Skog’s operations going forward. At the same time, Norske Skog will
remain a reliable supplier of high-quality publication paper products,” says
Geir Drangsland, CEO of Norske Skog.

Deliveries of containerboard to customers will start during the second quarter
of 2025. Capacity utilisation is expected to reach 50-60% towards the end of
2025 and full utilisation of 95% during the first half of 2027. The production
will be fully based on recycled paper. The mill will have capacities of 550 000
tonnes of containerboard and 330 000 tonnes of newsprint, making Golbey one of
the largest mills in the European paper and packaging industry.

The Golbey mill will contribute to the region’s sustainable development by
sorting and recycling more than one million tonnes of wastepaper sourced from
regions around the mill. In addition, the Golbey mill will supply Green Valley
Energie with waste to produce green and cost-efficient energy for external sale
and to Golbey’s production processes. This contributes both to the mill’s cost
position and environmental profile. The mill will also generate long-term jobs
and industrial activity in the region. At full capacity utilization of 880,000
tonnes, the Golbey mill is expected to generate around NOK 5 billion in annual
revenue in 2027/28, based on current packaging and publication paper prices.

“The containerboard machine at Golbey will enable long-term value creation for
all our stakeholders. Increased focus on environmentally friendly products and
the continued growth of e-commerce have created a significant demand for
renewable packaging. This aligns perfectly with the production of recycled
containerboard at Golbey, which will be cost-leading and environmentally
friendly,” says Yves Bailly, Managing Director of Norske Skog Golbey.


About Norske Skog
Norske Skog is a leading producer of publication paper and packaging with four
high quality industrial sites, strong market positions, and close customer
relations in Europe. Norske Skog aims to further diversify its operations and
continue its transformation into growing and high margin markets through a range
of development projects. The Group has approximately 1 700 employees, is
headquartered in Norway, and listed on the Oslo Stock Exchange under the ticker
NSKOG.


Norske Skog
Communications and Public Affairs

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

Norske Skog Investor Relations:
Senior Vice President Corporate Finance
Even Lund
even.lund@norskeskog.com
Mob: +47 906 12 919

More information:
Access the news on Oslo Bors NewsWeb site

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