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29-550: The company was established as NorskeCanada in 2000, when Norske Skog bought the majority of Fletcher Challenge Canada with Elk Falls Mill and Crofton Mill . The following year Pacifica Papers, operating Port Alberni Mill and Powell River Mill , was merged into the group. A recycling plant in Coquitlam was bought in 2003. The group took the Catalyst name in 2005 and the following year Norske Skog sold their shares. Snowflake Mill

58-792: A 65% increase in Catalyst's production. In 2017, Catalyst's three major shareholders bought out the remaining shareholders, leading to the delisting of the company from the Toronto Stock Exchange . On June 29, 2018, Catalyst sold Rumford Mill in Rumford, Maine and Biron Mill in Biron, WI along with the company's US operations center in Dayton, Ohio to Nine Dragons Paper (Holdings) Limited (ND Paper). On October 9, 2018, Catalyst announced that Paper Excellence entered into an agreement to purchase all shares of Catalyst Paper. Catalyst Paper Corporation

87-515: A decline in demand for building materials, causing at least three of the main sawdust suppliers to Elk Fall Mill to shut down. This was worsened by increasing power prices and a strengthening of the Canadian dollar . After 2005 China started buying large quantities of old newsprint from North America, particularly from the West Coast. In addition to causing a shortage in recycled paper, the exports caused

116-527: A management board member of Yara International and strategy director of Norsk Hydro . Ombudstvedt succeeded Christian Rynning-Tønnesen . Norske Skogindustrier ASA went bankrupt in 2017 and was delisted from the Oslo Stock Exchange. However, the operations continued, and was reorganized under a new parent company, Norske Skog ASA, which was reintroduced to the Oslo Stock Exchange in October 2019. Over

145-499: A million tonnes of kraft pulp. Catalyst's first US investment was Snowflake Mill, which was acquired in 2008. Catalyst took steps to upgrade the mill, including investments to allow the plant to produce finer grades of paper. Snowflake was an early user of deinking pulp and was amongst the first in the US to accept single-source recycling materials. This moves some of the recycling work from the recyclers, thus cutting their costs, in exchange for

174-624: A steep increase in the prices. Combined with reduced demand for newsprint, Catalyst decided to curtail production at Paper Machine 1 from 23 December 2009. The following year the corporation decided to close the Coquitlam plant and permanently terminate production at Paper Machine 1 in Crofton. From 2008 Snowflake encountered a steadily more competitive environment. Prices of recycled fibers rose with increased demand from Chinese importers. Slack at quality controlling received papers at Chinese mills allowed for

203-424: A stronger market position and lower raw prices. However, Snowflake Mill was stuck with a raw product flow which contain contaminants, such as plastic and metals. Elk Fall Mills was shut down on 30 November 2008. In addition to falling demand for newsprint, the mill increasingly failed to secure sufficient virgin fiber, as the mill used sawdust rather than woodchips as its source material. The 2008 recession caused

232-521: Is also the major shareholder of Circa Group, which is listed separately on Euronext Growth with the ticker CIRCA. Norske Skog have been accused of environmental destruction in New Zealand. One of their plants has consumed an entire inland fresh water lake, once full of marine life and a healthy eco system and replaced it with a large stagnant pit full of dioxins, polychlorinated biphenyls (PCB). Drums of zinc hydrosulphite and sodium dichromate are buried in

261-407: Is financial underwriting contract often associated with an initial public offering or public offering . It occurs when an underwriter , such as an investment bank or a syndicate, purchases securities from an issuer before a preliminary prospectus is filed. The underwriter acts as principal rather than agent and thus actually "goes long" in the security. The bank negotiates a price with

290-472: Is headquartered in Richmond, British Columbia . It has an annual production of 1.8 million tonnes of paper and 491,000 tonnes of market pulp. It has an annualized sales of $ 2.0 billion per year. Norske Skog Norske Skog ASA, formerly Norske Skogindustrier ASA , which translates as Norwegian Forest Industries , is a Norwegian pulp and paper company established in 1962. The company has long been one of

319-673: The Canadian division's name to Fletcher Challenge Canada. NorskeCanada had its origins in the 2000 purchase of Fletcher Challenge Pulp and Paper by Norske Skog. The latter was not interested in entering the North American market, but Fletcher Challenge had offered its assets as an all or nothing deal. This included its 50.8 percent share in Fletcher Challenge Canada, which owned Elk Falls Mill and Crofton Mill. The annual meeting in Fletcher Challenge Canada approved with 99.97 percent of

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348-726: The construction of a paper mill at Skogn in Norway, with the plant opening in 1966 and a second paper machine added in 1967. Half the capital for the project was issued by the Norwegian Forest Owners Association . In 1972 Norske Skog started a cooperation with Follum Fabrikker in Hønefoss . By 1989 Norske Skog had acquired Follum Fabrikker and Union in Skien as well as Saugbrugsforeningen in Halden . With this Norske Skog controlled all

377-586: The environment. Norske Skog continue to ignore requests and written plans, to remediate the land. Norske Skog hide behind out dated and old legislation that gave them the legal means to pollute on such a huge scale. Around 600,000m3 of toxic sludge was dumped into Lake Rotoitipaku over 30 years. Norske Skog operates on 3.54 Billion of revenue as of September 2022 As of 2021 This list may be incomplete 59°53′50.25″N 10°36′18.97″E  /  59.8972917°N 10.6052694°E  / 59.8972917; 10.6052694 Bought deal A bought deal

406-793: The export of steadily more contaminated wastes, which again affected the quality and prices for Snowflake. This led to higher prices and lower quality for Snowflake Mill. The price of old newsprint increased by 163% from 2009 to 2012.. The mill was therefore permanently closed on 30 September 2012, after having provided a negative EBIDTA every year since 2009. As part of the Verso Corporation 2015 acquisition of NewPage , US authorities required two mills to be sold. Catalyst therefore bought Biron Mill in Biron, Wisconsin , and Rumford Mill in Rumford, Maine . Both produce coated paper , allowing Catalyst to expand its paper portfolio into finer grades. The mills were bought for US$ 62 million. The deal led to

435-544: The following years, the group has diversified in order to counter the downward trend of the publication paper market. In 2020, it was announced that two paper machines, at Bruck an der Mur in Austria and Golbey in France, would be converted to produce recycled containerboard. The company is also pursuing fibre-based growth initiatives under the brand names Cebina and Cebico as well as energy related projects such as biogas . Norske Skog

464-448: The issuer (usually at a discount to the current market price , if applicable). The advantage of the bought deal from the issuer's perspective is that they do not have to worry about financing risk (the risk that the financing can only be done at a discount too steep to market price.) This is in contrast to a book building or fully marketed deal, where the underwriters have to "market" the offering to prospective buyers, only after which

493-437: The lake bed. Testing has also detected manganese, ammoniacal nitrogen, boron, arsenic, zinc, and chloride, these exceed the maximum concentration limits for drinking water, further polluting the ground water and feeding in to other areas. Norske Skog have effectively walked away from the responsibility to clean up the work site, by closing the paper mill plant, they are refusing to engage with local indigenous Maori, guardians of

522-710: The paper industry and mounting debt. A number of factories were closed, downsized or divested. The closure of the Union paper mill in Skien in 2005 caused a massive outcry, including protests from a number of politicians. Further closures include the closure of a factory in Steti in the Czech Republic, the indefinite closure of a factory in South Korea , and the closure of one of the three paper machines at Follum. From March 2007 to March 2008,

551-499: The price is set. The advantages of the bought deal from the underwriter's perspective include: The disadvantage of the bought deal from the underwriter's perspective is that if it cannot sell the securities, it must hold them. This is usually the result of the market price falling below the issue price, which means the underwriter loses money. The underwriter also uses up its capital, which would probably otherwise be put to better use (given sell-side investment banks are not usually in

580-734: The pulp and paper mills in Norway. The first international acquisition came in 1992 with Norske Skog Golbey in Lorraine, France. The company later bought the entire plant in 1995. Norske Skog expanded with purchases in Austria in 1996 and the Czech Republic in 1997. In 1998 it purchased mills in Thailand and the Republic of Korea. In 2000 Norske Skog bought the British Columbia -based Fletcher Challenge Canada with nine mills and Pacifica Papers (formerly MacMillan Bloedel ) and created NorskeCanada . At

609-447: The pulp was sent by barge to Crofton Mill. By 2005 NorskeCanada had operated with a deficit in 13 of 19 quarters, and Norske Skog started considering its options for the company. Pöyry was hired to consider the operations, and concluded that the mills were not competitive for export to Asia, a prime target market for Norske Skog. The paper particularly emphasized inefficient mill designs which led to higher operating costs. The first step

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638-600: The same time it absorbed the Australian Newsprint Mills , a subsidiary of Fletcher Challenge. By 2006 Norske Skog had sold its shares in NorskeCanada and the company changed its name to Catalyst Paper . In September 2005 it acquired the Asian company PanAsia Paper , in turn making Norske Skog Asia's largest producer of newsprint and magazine paper. During the following years, the company suffered from an oversupply in

667-528: The stock value plummeted from over kr  100 to below kr  18. An editorial in the Norwegian business newspaper Finansavisen could not rule out the possibility of bankruptcy . In September 2008, Norske Skog Korea was bought by Morgan Stanley Private Equity of Asia and Shinhan Private Equity. Sven Ombudstvedt became CEO of Norske Skog in January 2010. Ombudstvedt was previously chief financial officer and

696-609: The two were not allowed to cooperate closely, for instance through joint sales offices. The company acquired Newtech Recycling of Coquitlam in December 2003. Western Canada's first and largest paper recycling plant was bought to vertically integrate a source of deinked paper . The acquisition was partially paid in cash, partially in shares. The site handled 163,000 tonnes of old newsprint from British Columbia and Alberta , as well as more remote sources, predominantly Minnesota and Kansas City , shipped by train to Coquitlam. Once deinked,

725-522: The votes on 26 October 2000 to take the name Norske Skog Canada Ltd. At the time the company had NOK 8 billion in cash which it paid in dividends to the owners. Norske Skog considered both selling its shares in NorskeCanada or developing the company further. The latter was chosen, resulting in NorskeCanada purchasing Pacifica Papers on 27 August 2001, giving it control over Port Alberni Mill and Powell River Mill. Two months previously Pacifica Papers had sold Mackenzie Mill . The Pacifica Papers acquisition

754-405: The world's leading manufacturers of newsprint and magazine paper. Due to a declining market for publication paper, the company has increasingly focused on other uses of timber and recycled paper, such as packaging. The company is headquartered in Norway and has factories in five countries and an annual production of approximately 2 million tonnes of paper (2020). Norske Skog started in 1962 with

783-1061: Was bought in 2008. In the following two years the Elk Falls, Coquitlam and one machine at Crofton were shut down. Snowflake followed suit in 2012. The reason was falling demand for newsprint and increased cost of recycled paper . Catalyst reentered US production in 2015 with the purchase of Biron Mill and Rumford Mill . Catalyst's Canadian mills date back to 1912, when Powell River Mill was established by The Powell River Paper Company. Bloedel, Stewart and Welch established Port Alberni Mill in 1946, merging to create MacMillan Bloedel in 1951. They merged with The Powell River Paper Company in 1960. The mill assets were spun off to create Pacifica Papers in 1998. Crown Zellerbach Canada established Elk Falls Mill in 1951. British Columbia Forest Products (BCFP), founded in 1946, established Crofton Mill in 1957. New Zealand's Fletcher Challenge acquired Crown Zellerbach Canada in 1981, changing its name to Crown Forest Industries. Six years later it also bought BCFP, changing

812-538: Was funded through the issuing of new shares, diluting Norske Skog's ownership to 36.1%. More new shares were issued in May 2002, reducing Norske Skog's ownership further to 30.6%. Unlike the rest of the group, Norske Skog lacked the direct control over the assets in Canada. CEO Russ Horner was part of Norske Skog's corporate executive board until the share was diluted. From then the two companies were legally regarded as competitors and

841-418: Was taken in October 2005, when the general meeting approved the new name, Catalyst Paper, to signal that the group was leaving Norske Skog. The Norwegian group sold its 29.4 percent of Catalyst for $ 186 million in a bought deal on 30 January 2006. At the time Catalyst's four mills made it North America's fourth-largest producer of printing papers, with an annual production of two million tonnes of paper and half

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