The mill entered into a consultation process on strategic alternatives last year and has faced the prospect of closure ever since.

However, an IP spokesman said that "first contact with the Norwegian company has reportedly been made through local North East MSP Alison McInnes, who has visited the mill during the consultation process".

He added: "This is a welcome new development and any firm proposals that come forward will be given full consideration in the consultation process that still has some way to go."

The company entered into consultation with the 371 staff at the mill in October last year.

It was to discuss strategic alternatives for the mill's future, although production has continued throughout.

Since then, weekly meetings have been held at the company but no viable outcome has been achieved. The process will continue until the middle of February.

The plant is the global paper and packaging company's only non-integrated fine paper mill and it produces 250,000 tonnes of uncoated freesheet paper annually.

The company has said it had looked to close the mill because it was "unprofitable and not financially viable".