Norske Skog: Changes in the corporate structure of Norske Skogindustrier ASA's Norwegian operations

As part of the process of standardising the corporate structure of Norske Skog, the following transfers of operations from Norske Skogindustrier ASA to other group companies are implemented today, 1 June 2011:

The paper-making activities at Skogn, Saugbrugs and Follum, respectively, are separated and transferred to the following newly established and wholly-owned subsidiaries of Norske Skogindustrier ASA:

 

- Norske Skog Saugbrugs AS, where the Managing Director is Olle Axell

 

- Norske Skog Skogn AS, where the Managing Director is Svein Aurstad

 

- Norske Skog Follum AS, where the Managing Director is Oddvar Sandvei

 

Furthermore, various corporate functions such as invoice handling, IT and accounting, as well as the sales office for the Nordic market and export markets for the group's European mills are separated in the following newly established and wholly-owned subsidiaries of Norske Skogindustrier ASA:

 

- Norske Skog Shared Services AS, where the general manager is Anne-Marie Roeyert

 

- Norske Skog Nordic and Export Sales AS, where the general manager is Torgeir Ose


The transfer of operations from Norske Skogindustrier ASA is conducted as assets sales, and the transactions will not have any impact on the consolidated financial statements. The changes in the legal organisation of Norske Skog's operations in Norway will not change the daily operations in the affected departments, and all operations will be wholly-owned by Norske Skogindustrier ASA.

 

Oxenoeen, 1 June 2011

 

Norske Skog
Corporate Communication

 

 

For further information:
Media: Vice President Corporate Communication             Carsten Dybevig Mob: [phone]	Financial markets:                       Senior advisor Investor Relations Frode Tegnér Mob: [phone]

 

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: Norske Skog via Thomson Reuters ONE

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