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Paper Products

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Nippon Paper Industries unit to withdraw from the business

Tuesday, 16 Jan 2018

Jan 16 (Reuters) - Nippon Paper Industries Co Ltd <3863.T>:Says 62.9 percent owned unit, Kitakami Paper Co Ltd, which is also 34.3 percent owned unit of Japan Pulp and Paper Co Ltd <<<8032.T>>>, has decided that it will withdrew from all of its business on July 31 .

Nippon Paper Industries unit to withdraw from the business

Tuesday, 16 Jan 2018

Jan 16 (Reuters) - Nippon Paper Industries Co Ltd <3863.T>:Says 62.9 percent owned unit, Kitakami Paper Co Ltd, which is also 34.3 percent owned unit of Japan Pulp and Paper Co Ltd <<<8032.T>>>, has decided that it will withdrew from all of its business on July 31 .

Norske Skogindustrier: Norske Skog's Operations Continue As Normal

Tuesday, 19 Dec 2017

Dec 19 (Reuters) - Norske Skogindustrier Asa ::NORSKE SKOG'S OPERATIONS CONTINUE AS NORMAL.‍NORSKE SKOG'S OPERATIONS WILL CONTINUE TO RUN AS NORMAL. FOR EMPLOYEES, SUPPLIERS AND CUSTOMERS, THERE WILL BE NO CHANGE, IT WILL BE BUSINESS AS USUAL​.‍BANKRUPTCY OF NORSKE SKOGINDUSTRIER ASA IS FINANCIAL AND CONCERNS MAINLY SHAREHOLDERS AND BONDHOLDERS OF NORSKE SKOGINDUSTRIER ASA​.‍OCEANWOOD, MAJORITY HOLDER OF SENIOR SECURED NOTES (SSN), HAS STARTED PROCESS TO ENFORCE ON SSN COLLATERAL IN NORSKE SKOG AS​.‍OWNERSHIP OF NORSKE SKOG AS, PARENT COMPANY OF ALL OPERATING BUSINESS UNITS, WILL THUS BE TRANSFERRED TO NEW OWNERS IN AN AUCTION PROCESS​.‍OCEANWOOD HAS ENTERED INTO A JOINT VENTURE (JV) WITH AKER IN A BID TO BUY AND OPERATE NORSKE SKOG AS. JV IS PROVIDING FINANCIAL SUPPORT TO NORSKE SKOG THROUGHOUT AUCTION PROCESS​.‍OUR MAIN TASK GOING FORWARD IS TO FACILITATE AUCTION PROCESS AND TO ENSURE THAT NORSKE SKOG AS GETS A NEW STRONG OWNER​.

Sappi Says ‍Proposed Acquisition Of Speciality Paper Business Of Cham Paper Group Holding

Tuesday, 5 Dec 2017

Dec 5 (Reuters) - Sappi Ltd ::‍PROPOSED ACQUISITION BY SAPPI OF SPECIALITY PAPER BUSINESS OF CHAM PAPER GROUP HOLDING AG​.SAPPI - ‍REACHED AGREEMENT WITH CPG, CO WILL PURCHASE SPECIALITY PAPER BUSINESS ASSETS FROM CPG CONSISTING OF TWO MILLS IN ITALY AND DIGITAL IMAGING BUSINESS IN SWITZERLAND.‍ACQUISITON IS FOR CONSIDERATION OF CHF146.5 MILLION (APPROXIMATELY US$149 MILLION)​.‍CLOSING DATE OF ACQUISITION IS EXPECTED DURING Q1 2018​.

Norske Skog again postpones debt restructuring deadline

Wednesday, 25 Oct 2017

Oct 25 (Reuters) - Norske Skogindustrier Asa :‍Consent solicitation deadline is extended until tuesday 31 october at 17:00 cet​.‍strong support for recapitalization​.Norske skog: ‍in relation to secured and unsecured tranches and following direct dialogue with holders, indications of support suggest that thresholds required to implement transaction by way of schemes of arrangement will be reached​.‍extension period will also be used to continue discussions with holders of Norwegian Securitization Facility due 2020 (NSF) and holders of 2115 perpetual notes to try to achieve support also from these two remaining creditor groups​.‍if requisite consent levels are not reached, listed parent company norske skogindustrier asa will likely file for debt negotiations or bankruptcy in norwegian courts​.

Norske Skogindustrier: final solution with creditor committees reached

Wednesday, 18 Oct 2017

Oct 18 (Reuters) - NORSKE SKOGINDUSTRIER ASA ::FINAL SOLUTION WITH CREDITOR COMMITTEES REACHED.‍FINAL SOLUTION WITH CREDITOR COMMITTEES REACHED​.‍MANAGED TO BROKER A SOLUTION BETWEEN UNSECURED COMMITTEE, SENIOR SECURED NOTEHOLDER COMMITTEE AND MAJOR SHAREHOLDER​.‍RESOLVED TO REVISE TERMS OF ONGOING CONSENT SOLICITATION IN ACCORDANCE WITH SPLIT AGREED​.‍FORMAL CONSENT SOLICITATION DEADLINE IS EXTENDED UNTIL WEDNESDAY 25 OCTOBER AT 17:00 CET​.

Norske Skogindustrier updates on outlook, recapitalization process

Monday, 4 Sep 2017

Sept 4 (Reuters) - NORSKE SKOGINDUSTRIER ASA ::IT IS DISCLOSED THAT MOST RECENT ESTIMATE FOR FULL YEAR 2017 GROSS OPERATING EARNINGS IS AROUND NOK 700 MILLION.NORSKE SKOGINDUSTRIER ASA - DOWNWARD ADJUSTMENT FROM EARLIER OUTLOOK STATEMENTS IS MAINLY DUE TO ADVERSE CURRENCY EFFECTS COMBINED WITH HIGHER ENERGY COST AND INCREASED EXPORTS TO LOWER-MARGIN ASIAN MARKETS.NEGATIVE CURRENCY EFFECTS ALONE REPRESENT A NEGATIVE ADJUSTMENT IN EXCESS OF NOK 50 MILLION.ENTERS INTO A LOAN AGREEMENT TO SUPPORT GROUP'S OPERATING BUSINESS THROUGHOUT RECAPITALIZATION PROCESS​.ENTERS INTO A LOAN AGREEMENT FOR A EUR 16 MILLION LIQUIDITY FACILITY WITH HOLDERS OF A MAJORITY OF SSN (EUR 290M, 2019)​.

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