Norske Skog.Norske Skog Norske Skogindustrier ASA or Norske Skog, (OSE: NSG) which translates as Norwegian Forest Industries, is a Norwegian pulp and paper company based in Oslo, Norway and etablished in 1962. , Oxenoen, Norway Norway, Nor. Norge, officially Kingdom of Norway, constitutional monarchy (2005 est. pop. 4,593,000), 125,181 sq mi (324,219 sq km), N Europe, occupying the western part of the Scandinavian peninsula. has begun a comprehensive improvement program that will increase its profitability in the short and long term. "Improvement 2003" intends to boost results by NOK NOK In currencies, this is the abbreviation for the Norwegian Krone. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2 billion (US$ 280 million). The improvements will come primarily from cost reductions and are in addition to the NOK 700 million (US$ 99.6 million) improvement program begun in February February: see month. 2002. In other news, Norske Skog, Oxenoen, Norway has received verbal approval by the Norway Minister of Agriculture Lars Sponheim Lars Sponheim (born May 23, 1957 in Halden, Østfold) is a Norwegian politician. He has been the leader of the Liberal Party since 1996. As of 2006, he is member of the legislature Storting for the fourth consecutive period, being first elected in 1993. for the sale of its forestlands in eastern Norway. The sales agreement began in November 2001 and covers 16,000 hectares of productive forest. The sale price of NOK 200 million (US$ 28.5 million) will result in a net profit of NOK 155-160 million (US$ 22-22.8 million). The sale does not trigger any tax payments, and the net profit will be part of "other items" in the fourth quarter" 2002 accounts. Norske Skog has also received approval for the sale of 13 power stations with an annual production capacity of approximately 700 GWh. The sale price of NOK 1.3 billion (US$ 185 million) will result in a net profit of approximately NOK 1 billion (US$ 140 million) before tax. This sale will be part of first quarter 2003 results, and the net profit will be under "other items". |
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