After the release of the stock exchange notice of today at 17:21, the company has been informed that the board of Norske Skog AS has decided to support an extension of the consent solicitation deadline for the board's recapitalization proposal. However, due to practical matters, it was not possible to make the Norske Skog AS resolution within the deadline at 17:00 CET, and consequently, the offer period has expired. The discussions with the key stakeholder groups will continue in order to achieve a consensual recapitalization solution for the Norske Skog group during the next days even though the offer period has expired. If these discussions are successful, an updated recapitalization proposal will be launched.
Asia Pulp & Paper Group (APP) today welcomes the decision by the Forest Stewardship Council (FSC) to enter into a dialogue about the establishment of a roadmap to lead towards compliance with the FSC Policy for Association.
The FSC Board decided to progress APP to the FSC’s ‘roadmap phase’ following the evaluation of independent reports and documentation submitted by APP during a period of constructive dialogue commencing in 2012. The FSC Board has concluded that APP demonstrated a top management commitment towards complying with the FSC Policy for Association, has adopted relevant policies to improve its business practices, and has taken credible steps towards implementation of these policies in a transparent manner involving relevant stakeholders.
At the same time, the FSC Board highlighted a number of continuing concerns on issues such as forest clearance, illegal logging, community conflicts, working conditions and threats to High Conservation Values. The FSC Board therefore noted that the dialogue represents the beginning of a journey, and not necessarily a near ending of APP’s disassociation status.
“We support the FSC certification system as a credible standard for responsible forest management. I look forward to working with the FSC to continuously improve the implementation of our Forest Conservation Policy and landscape approach” said Aida Greenbury, Managing Director Sustainability, Asia Pulp & Paper Group.