Norwegian Peterson facing acute crisis

Peterson, the Norwegian paper industry group, is facing an acute crisis and is in talks with its creditors about emergency financial support. The group needs NOK 150 million ($21.4 million) to survive this year, Lesprom Network said according to the article on the Papernet.

The Norwegian Peterson Group, with head office and largest production facility in Moss, southern Norway, is facing an acute crisis. According to the Dagens Næringsliv business daily, discussions are under way between Peterson’s management and the company’s creditors regarding emergency financial support. It has been reported that an immediate loan of NOK 50 million ($7 million) has been approved by the Norwegian bank DnB Nor, so that Peterson could pay its suppliers.

To read the full story on Wood.lesprom.com, click here.