Borregaard: Supply of lignin raw material from Sniace to LignoTech Ibérica has been resumed
October 19 2016 - 6:59AM
The dissolving pulp mill in Torrelavega, Spain was
shut down in the summer of 2013 due to the financial difficulties
of its owner, the Sniace Group. As a result, supply of lignin raw
material to LignoTech Ibérica, owned by Borregaard (60%) and Sniace
(40%), was stopped. The lignin operation has since then been
running at a low level of activity, based on raw material supplied
from other sources. Following the successful refinancing of the
Sniace Group earlier this year, pulp production has now been
started up again. The supply of lignin raw material to LignoTech
Ibérica has therefore been resumed. After a stable operation of the
pulp mill has been achieved it is expected that supply of lignin
raw material will correspond to an annual lignin production of
about 35,000 tonnes. In a second phase, after investments in new
equipment, Sniace plans to restart the downstream viscose textile
operation on site. This will eventually provide sufficient raw
material to bring the production at LignoTech Ibérica back to
65,000 tonnes per year.
For background information, see Borregaard's stock
exchange notices from 27 May and 21 March 2016, 8 September, 25
July and 26 June 2013
(http://www.borregaard.com/Investor-Relations/Download-center?Query=*&subtreefilter=108002&Year=2013).
Contact:
Jørn Syvertsen, Director Investor Relations, +47 958 36 335
This information is subject to the disclosure
requirements pursuant to Section 5-12 of the Norwegian Securities
Trading Act.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Borregaard via Globenewswire
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