Norske Skog has decided to extend the consent solicitation deadline for the ongoing recapitalization proposal from 29 September until Tuesday 3 October at 17:00 CET. The consent solicitation deadline has been extended from Friday 29 September until Tuesday 3 October 2017 at 17:00 CET. Norske Skog will use the period prior to the new expiration deadline to continue discussions with various stakeholder groups to try to achieve sufficient support for a consensual recapitalization solution for the Norske Skog group. The Board of Directors will continue to follow and evaluate the situation thoroughly during this period. - The recapitalization process is challenging, as we knew it would be, but we want to allow time to finalize our discussions with the various stakeholders. We believe that the extension of the consent deadline will improve the chances of reaching a solution, especially after the last day's actions from different stakeholders. As we have previously made clear, the board of Norske Skogindustrier ASA firmly believes that only less beneficial alternatives to a consensual solution exist. Norske Skog has 7 profitable business units that will continue normal operations regardless of the outcome of the consent solicitation process," said Mr. Christen Sveaas, Chairman of Norske Skogindustrier ASA.
The Navigator Company announced today that it will increase tissue prices by 8 to 10% in the Iberian markets and above 10% outside Iberia.
This increase will be effective for all dispatches from 1st of December. The Company will inform its clients shortly about the details of the new prices to be applied.
This decision was taken following the generalised and very significant price hikes in many input cost, notably in commodities like chemical products, packaging products (plastics and containerboard), logistics, and pulp, being the latter the main cost factor for tissue production.
The world index for pulp increased, to this date, 78% since January. Electricity costs are 3,6 times higher than in 2020 in Portugal; natural gas is 5,8 times higher. Similar trend is verified across all European countries.