By: Jim Rosenberg Newsprint Maker Keeps Inventory Low
Norske Skog Canada (NSC) said its two newsprint mills will match by mid-July the 24,000 metric tons of production already cut in the second quarter.
Assuring further downtime will be taken as needed, CEO Russell J. Horner said that despite hurting short-term earnings, "it is a more prudent approach" than expensive inventories or "unacceptable" prices. The company, he added, intends to hold newsprint inventories at their current "historical lows."
NSC's majority owner, Norske Skog, Oxen?en, Norway, will pay Finnish paper giant UPM Kymmene 1.1 billion euros for a German magazine paper mill and a Dutch newsprint and supercalendered paper mill that UPM will acquire as part of its purchase of Germany's G. Haindl'sche Papierfabriken, which claimed to be "the world's second-largest producer of low-cost newsprint."
Jim Rosenberg (tech@editorandpublisher.com) is a senior editor covering newspaper technology for E&P.
Copyright 2001, Editor & Publisher.
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