Norske Skog receives NOK 250 million ($38 million) in long-term loans from Innovation Norway

   Moscow. Apr 24, 2009. /Lesprom Network/. Norske Skog takes out a long-term loan of NOK 250 million ($38 million) in Innovation Norway. The loan has a term of 12 years, the first two without installments, and is linked to the financing of development projects at Norske Skog Skogn. These projects will be implemented to improve competitiveness at the mill by reducing energy consumption and enhancing quality, as the company informed Lesprom Network.

"We have had a very good and constructive dialogue with Innovation Norway. The new loan has favourable terms and will help further strengthen Norske Skog's financial position and the long-term maturity profile," says CEO Christian Rynning-Tønnesen.