PM1 has a capacity of 265,000 tonnes per year and is used for the production of so-called SC-B paper for magazines and advertising brochures.

[4] The deal took effect on 30 November 2001, with Norske Skog paying 8.2 billion Norwegian krone for the two mills.

Norske Skog was in a process of specialization, selling all non-core assets while purchasing a dominant position in the world's newsprint and magazine paper market.

[1] Norske Skog sold Parenco and the recycling company Reparco to H2 Equity Partners in August 2012 for €30 million.

H2 stated that they hoped to find new market segments to produce other paper grades two and had a long-term goal of restarting PM2.

[8] On June 4, 2015, the announcement was made that Parenco invests approximately one hundred million euros with its owner H2 Equity Partners in the conversion of its PM2.