(Reuters) – Three Nordic papermakers are planning to pool some or all of their newsprint production to cut losses and support prices in a market that has been in decline for years, a Finnish newspaper reported on Thursday.
Helsingin Sanomat said, without citing sources, that Stora Enso (STERV.HE), Norske Skog (NSG.OL) and Holmen (HOLMb.ST) aimed to reach an agreement this autumn so the new venture could negotiate with customers for 2011 newsprint contracts.
The paper said the new firm would not need new capital, with the three papermakers simply transferring assets to it.
A Stora Enso spokesman was not immediately available for comment. (Reporting by Brett Young; Editing by Hans Peters)
