Nippon Paper has reported that the withdrawal of its white pulp and paper (graphic paper) business at the Maryvale Opal mill in Victoria, Australia announced on 14 February 2023 will result in an expected loss of 4.9 billion yen ($51,216,677) in the first quarter of financial year 2023/24. Source: Timberbiz
Opal a consolidated subsidiary of Nippon Paper decided to withdraw from the graphic paper business due to the sudden and unexpected suspension of supply from VicForests.
Nippon also expects to record an impairment loss of approximately 1.2 billion yen ($12,547,200) on fixed assets due to a decision to shut the M2 paper machine at the Maryvale Mill from around late August 2023 also due to the suspension of supply from VicForests.
