Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Norske Skog Wins $1.5 Billion of Supply Deals in Australasia

Norske Skogindustrier ASA, Europe’s third-largest newsprint maker, signed contracts valued at about 9 billion kroner ($1.5 billion) to supply paper to Australia’s News Corp. and Fairfax Media Ltd. until 2020.

The supply deals for newsprint and improved-grade paper, which will replace existing contracts expiring in 2015, will help the Lysaker, Norway-based company cut costs further, it said in a statement today.

“These agreements are securing our newsprint and improved-grade market share in Australia and New Zealand until 2020,” Chief Executive Officer Sven Ombudstvedt said in the statement. The deals “will also limit our future foreign exchange rate exposure in Australia and New Zealand.”

Norske Skog, grappling with about 6.9 billion kroner of debt, is trying to strengthen its balance sheet amid excess supply in the newsprint market, competition from online media and rising raw-material costs.

News Corp. and Fairfax Media represents about 70 percent of the newsprint and improved-grade market in Australasia, Norske Skog said. The Norwegian company has three mills in the region with a total annual production capacity of 700,000 metric tons.

Shares in Norske Skog gained as much as 14 percent to 4.75 kroner, the highest intraday level in more than a year, and where it was trading as of 9:15 a.m. in Oslo.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.