Paper company also will be closing a newsprint machine in New Zealand.
The global paper company Norske Skog (www.norske-skog.com), headquartered in Norway, has announced plans to invest A$84 million to convert a machine at its Boyer mill in Tasmania, Australia, to produce coated paper grades. Australia’s federal government will contribute around A$28 million to assist with the project, while the Tasmanian state government will provide A$13 million loan for the project.
The conversion of the machine is expected to be complete by the first quarter of 2014.
The company also has announced plans to permanently close 150,000 metric tons of capacity at its Tasman mill in New Zealand to create a better balance between demand and supply for newsprint in the region.