World Courant
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Earlier this 12 months, a rockslide occurred at Norske Skog Saugbrugs in Halden, inflicting in depth harm to buildings, cranes, equipment and tools associated to a paper machine.
Now Norske Skog and the insurance coverage firm have entered into an settlement relating to insurance coverage protection for each operational interruptions and property harm, estimated at as much as 2.4 billion euros, which shall be lined collectively by the insurance coverage firm, Norwegian Nature Injury Pool and reinsurers.
This was evident from a message from Norske Skog on Thursday.
Billion for investments
– We consider that we now have had an excellent dialogue and that we now have been handled properly by our insurance coverage firm all through the method, says Geir Drangsland, CEO of Norske Skog.
Property harm insurance coverage at Norske Skog Saugbrugs covers the prices of securing rock chopping and rebuilding constructing buildings, estimated at as much as NOK 550 million. Moreover, a settlement of 1 billion has been made for investments in manufacturing tools, of which 59 million has been paid within the third quarter of 2023, 326 million shall be paid within the fourth quarter of 2023 and 615 million as funding prices improve. in keeping with the report.
The article continues beneath the commercialNorske Skog Saugbrugs expects to obtain and ebook roughly NOK 326 million underneath property harm insurance coverage within the fourth quarter.
– Provides us flexibility
It was paper machine 6 (PM6) that was hit within the rockslide. With the continued ramp-up of PM5, the plant could have a capability of roughly 200,000 tons to satisfy buyer demand, in keeping with Drangsland.
– The settlement with our insurance coverage firm offers us the pliability to make use of the settlement each for PM6 reconstruction inside SC paper, but in addition to contemplate investments in different product options, he says.
Enterprise interruption insurance coverage is booked at 225 million as of third quarter 2023, similar to the primary 5 months of the 18-month protection interval, it stated. For the remaining 13 months the quantity shall be NOK 625 million.
As of the third quarter, Norske Skog had obtained NOK 267 million underneath enterprise interruption insurance coverage. The remaining funds of NOK 368 million and NOK 215 million shall be paid within the fourth quarter of 2023 and the primary quarter of 2024, respectively.(Situations)Copyright Dagens Næringsliv AS and/or our suppliers. We want you to share our instances through hyperlinks that lead on to our pages. Copying or different use of all or a part of the contents could solely be made with written permission or as permitted by regulation. For additional situations see right here.
Dramatic photographs: – Nobody has seen something like this earlier than
Salmon fully eaten by lice on the facility of Mowi’s Icelandic subsidiary Arctic Fish in Iceland. All fish within the facility should be lifeless or sick.
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Revealed: 01.11.23 — 09:39
Insurance coverage settlement for Norske Skog | DN
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