Norske Skog\u00a0has entered into agreement with Talley\u2019s Group, a New Zealand based dairy, fishing, produce and food company, to sell the Nature\u2019s Flame pellets company\u00a0 for a consideration of approximately NZD 47.8 million (approximately $31.72 million). The transaction is expected to close during the 1Q 2022.<\/p>\n
\u201cUnder our ownership, we have expanded the capacity from producing some 20,000 tonnes when acquired to currently 90,000 tonnes, and we are very pleased that Talley\u2019s has indicated interest to continue the ongoing project to further expand the capacity to 150,000 tonnes. Following the closure of the Tasman mill in 2021 and the sale of the Nature\u2019s Flame business, the Boyer industrial site at Tasmania is now our only operational asset in the region. The Boyer industrial site will continue to service the regional publication paper markets and develop its industrial footprint within energy and bio products\u201d, says Sven Ombudstvedt, CEO of Norske Skog.<\/p>\n
Norske Skog acquired the Nature\u2019s Flame business in 2015 for a consideration of NZD 6.7 million, and has invested an additional NZD 7.8 million to expand the capacity to 90,000 tonnes.<\/p>\n
Norske Skog is a leading industrial company within publication paper, packaging paper, energy production and bio products.<\/p>\n
Talley's Group Limited is a privately owned, New Zealand-based agribusiness company that provides seafood, vegetable and dairy products.<\/p>","protected":false},"excerpt":{"rendered":"