Sep 15, 2005. /Lesprom Network/. In 2003, NCT Forestry Co-operative Limited (NCT) and Sodra Cell, a subsidiary of Sodra, the Swedish forest products group formed a jointly owned company, Pulp United, to investigate the feasibility of constructing a new Eucalyptus based BCTMP pulp mill in South Africa. Some of the key factors for a successful venture, such as electricity and other administered costs at competitive prices, and relatively low capital investments per tonne of capacity, have however proven to be worse than initially anticipated. This, in combination with a continuously strong South African Rand versus the US-dollar, has made Sodra Cell’s board of directors reluctant to continue to support the project. They have therefore, according to the shareholders’ agreement, decided to offer NCT all of Sodra Cell’s shares in Pulp United. NCT’s board of directors has decided to continue with the feasibility study in order to thoroughly investigate whether the above costs and investments could be substantially reduced.