Norske Skog sold Tasman pulp mill to CHH
Norske Skog of Norway reached an agreement with Carter Holt Harvey of New Zealand (CHH) yesterday to sell Tasman pulp mill of New Zealand to the latter for us $130million (NOK 1.17), which is equivalent to the book value of the pulp mill
this transaction is scheduled to be completed on April 30. In addition, CHH will pay Norske Skog a profit dividend of up to $10million according to the development of the global pulp market in the next two years. The transaction has been approved by the board of directors of both parties and the New Zealand chamber of Commerce
no thus constitutes the so-called tool wear. Jan Reinas, CEO of rske Skog, said, "stripping Tasman is consistent with our strategy of focusing on publishing paper."
he said: "in the five months of 2000, Tasman's operating gross profit was 348million Norwegian kroner, with a profit margin of 51%. Now we sell it at book value, which is a good short-term income for Norske sko from Jinan gold testing machine g. Tasman is one of the best pulp mills in the world, and we believe that CHH has enough ability to explore the full potential of Tasman."
Tasman pulp plant has an annual output of 285000 tons of sulfate pulp. CHH is the second largest company in New Zealand, with an annual production capacity of 10000 tons. It is very active in the forestry, building materials and pulp and paper industries in New Zealand and Australia