Norske Skog Sells Norway, Chile Assets to Reduce Debt - Businessweek: "The Chilean sale will “improve Norske Skog’s cash flow and financial position,” Chief Executive Officer Sven Ombudstvedt said. The Norwegian sale will result in an accounting gain of 30 million kroner, the company said.
Norske Skog is grappling with about 7.9 billion kroner of debt after three quarters of losses amid oversupply in the newsprint market, competition from online media and rising raw- material costs. Norske Skog decided in November to close the Follum mill, which had the highest unit costs of all its mills in Norway."
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