Brief: Norske Skog Updates On Impact Of Coronavirus

Norske Skog ASA

30/03/2020 06:05

March 30 (Reuters) - Norske Skog ASA  NSKOG.OL :
    * ON CORONAVIRUS: WE ARE NOW REGISTERING SOME EFFECTS ON OUR
OPERATIONS BECAUSE OF LOWER ECONOMIC ACTIVITY AND RESTRICTIVE
MEASURES TAKEN BY NATIONAL AUTHORITIES DUE TO CORONAVIRUS
    * IN FRANCE, GOLBEY MILL HAS TEMPORARY CEASED PRODUCTION AT
ONE
PAPER MACHINE (PM2) DUE TO ONE CONFIRMED CASE OF CORONAVIRUS AT
PM2 LINE
    * PM2 IS PLANNED TO START PRODUCTION AGAIN ON 1 APRIL
    * NORSKE SKOG PANASIA CO PTE LTD - NORSKE SKOG IS CONFIDENT
THAT
WE WILL MEET CUSTOMER NEEDS AND EXPECTATIONS ALSO IN THIS
SITUATION
    * IN NORWAY, SAUGBRUGS WILL CEASE PRODUCTION ON ONE PAPER
MACHINE
DUE TO NEGATIVE MARKET DEVELOPMENTS AS A RESULT OF CORONA VIRUS
RESTRICTIONS
    * IN GENERAL, CORONA SITUATION WILL NOT AFFECT OUR STRATEGY
AND
ON-GOING TASKS TO IMPROVE CORE BUSINESS, CONVERT CERTAIN OF
GROUP'S PAPER MACHINES AND DIVERSIFY BUSINESS WITHIN BIOENERGY,
FIBRE AND BIOCHEMICALS
    * THERE WILL BE GIVEN NOTICE OF TEMPORARY LAYOFFS
    * IN ADDITION, ADMINISTRATIVE PERSONNEL AT HEADQUARTERS HAS
BEEN
TEMPORARILY LAID OFF AS A RESULT OF CORONA SITUATION
    * IN AUSTRALASIA, PRODUCTION AT TASMAN MILL IN NEW-ZEALAND
HAS
BEEN DEEMED AN ESSENTIAL INDUSTRY BY NATIONAL GOVERNMENT FOR A
LIMITED PERIOD OF 9 DAYS PRODUCTION, OUT OF CURRENT PERIOD OF
FOUR WEEKS WITH LOCK DOWN RESTRICTIONS

Source text for Eikon:  ID:nObicvjVSa 
Further company coverage:  NSKOG.OL 

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