Norske Skog will invest AUD 160 million in an extensive restructuring of the Tasman mill in New Zealand and the Albury mill in Australia. The project includes an upgrade and capacity increase of both PM 2 and PM 3 at Tasman, a capacity increase at Albury, and shutting down the high-cost PM 1 at Tasman in 2006. The combined production of the two mills will remain largely unchanged as a result of the restructuring, with the upgrades offsetting the production loss of Tasman PM1. The main investments will take place at Albury, and consist of a rebuild of the paper machine including a shoe press and a new winder.
CONTACT (Norske Skog): Hanne Aaberg, media, + 47 6759 9029 or + 47 9135 1681.
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