Nov 21, 2005. /Lesprom Network/. Norske Skog has transferred on Friday the full consideration of $600 million to Abitibi Consolidated for its shares in PanAsia Paper Company. Subsequently, PanAsia is fully consolidated into Norske Skog financial accounts as of Friday, and re-named Norske Skog PanAsia. After this deal Skog Norske is the largest newsprint producer in the world and in Asia. 25% of the company's production capacity is now located in Asia. Norske Skog PanAsia has five modern newsprint mills located in China, South Korea and Thailand. Norske Skog is a world leading producer of newsprint and magazine paper, with 24 wholly and partly owned mills in 15 countries on five continents.