Pulp- and Paperindustry

M-real Oyj has signed an agreement to divest the entire share capital in M-real Hallein GmbH to the Schweighofer Group. M-real Hallein GmbH assets consist of the Hallein pulp mill, bioenergy plant, paper mill closed in 2009 and the surrounding estate. The pulp mills annual capacity is approximately 160,000 tonnes of sulphite pulp and the amount of personnel is approximately 200. The debt-free value of the transaction is approximately EUR 34 million and the positive cash impact for M-real approximately EUR 24 million.

The Sakha Republic had signed several documents on cooperation with China focusing mainly on timber extraction and processing but the two sides were also discussing joint oil and gas exploration projects according to China Daily last week.
Yegor Borisov said the focus of these documents was mainly on "China is eyeing construction of a sea transport corridor via the Sakha Republic and the Arctic Ocean, while Russian republics which wanted to establish links with Europe are also interested in the project," Borisov said.