NND to acquire properties at Saugbrugs

27 Feb 2026 08:00 CET

Norske Skog Saugbrugs AS (“Saugbrugs”) and Norsk Nukleær Dekommisjonering
(“NND”), a Norwegian government agency under the Ministry of Trade, Industry and
Fisheries, have agreed on a transaction whereby NND will become the owner of
certain properties at the Saugbrugs industrial site in Halden. NND will use the
properties for the decommissioning of the Halden research reactor, which is
situated next to the industrial site.

Saugbrugs and NND have been in dialogue for several years regarding the planned
work to decommission the Halden research reactor which was idled in 2018. The
Saugbrugs industrial site is located next to the reactor facility and is thus
well placed to accommodate the decommissioning work which is expected to last
for 25 to 30 years.

The properties include areas north of Tistedalsgata and the machine hall for
paper machines 4 and 5 (“PM4-5”). NND is in the planning phase of the
decommissioning project and hand over of the properties is expected in the
second half of 2028. Saugbrugs will lease the properties until hand over and has
certain obligations related to this.

“We are very pleased to have found a solution together with NND that will
facilitate an orderly and well managed decommissioning process. We continue to
review a rebuild of PM6 for production of SC magazine paper and kraftliner. We
expect to provide an update on these processes during the second quarter this
year,” says Geir Drangsland, CEO of Norske Skog.

The transaction will be carried out as an asset sale and is subject to customary
conditions and public granting of the consideration amount. The transaction is
expected to generate an accounting gain, recognized as other operating income,
of NOK 320 million in the first quarter and estimated at NOK 330 million in the
second quarter of 2026. Net payment of approximately NOK 720 million is expected
in the second quarter of 2026.

“We have been very impressed by the openness and willingness Norske Skog has
shown to understand our needs. We will now seek the final approvals required to
complete the transaction and continue with the planning process for the
decommissioning project. The project will generate significant activity in
Halden over the coming decades, and we aim to be a strong supporter of the
community and our neighbours, carrying out the project in a safe, secure and
responsible manner,” says Pål Mikkelsen, Director of NND.


About Norske Skog
Norske Skog is a producer of packaging paper and publication paper across four
mills in Europe. Packaging paper includes testliner and fluting and publication
paper includes newsprint and magazine paper. The annual production capacity of
packaging paper is 0.8 million tonnes, and the annual production capacity of
publication paper is 1.3 million tonnes. Packaging paper and publication paper
are sold through sales offices and agents. Norske Skog has approximately 1 650
employees and the parent company, Norske Skog ASA, a public limited liability
company, is incorporated in Norway and has its head office in Oslo. The company
is listed on Oslo Stock Exchange with the ticker NSKOG.


About Norske Skog Saugbrugs
Norske Skog Saugbrugs has 350 employees including apprentices with a turnover of
NOK 1.8 billion, and a production capacity of 200 000 tonnes of SC magazine
paper with main markets in Europe. Saugbrugs annually produces 2.7 million cubic
meters of biogas.


About Norsk Nukleær Dekommisjonering
NND was established in February 2018 and is headquartered in Halden in Østfold.
NND is responsible for decommissioning Norway’s historical nuclear facilities in
a safe, secure, and responsible manner. NND is a government agency under the
Ministry of Trade, Industry and Fisheries, which is responsible for the
financing and governance of NND. Today, NND has approximately 220 employees. A
large share of the employees was transferred on 1 April 2025 from the Institute
for Energy Technology and has extensive experience in maintaining safety at the
research reactor. In addition to the competence from the period when the
research reactors were in operation, NND has recruited additional expertise to
carry out the decommissioning itself. NND also has its own expert committee to
ensure that the decommissioning follows best international practice.

For contact information, please see the enclosure.

More information:
Access the news on Oslo Bors NewsWeb site

667070_260227 - Norske Skog press release - NND to acquire properties at Saugbrugs.pdf