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[December 2002]
Borregaard Acquires Atisholz
Borregaard announced that on 4 December 2002 it had formally acquired the Swiss company Atisholz AG, after contractual conditions including official approval and due diligence are finalised.Atisholz AG will change its name to Borregaard Schweiz AG and will be headed up Managing Director Gunnar Vikström, who has been responsible for Borregaard LignoTech, probably the company' best known division to ceramic industry customers, chiefly heavy clay product manufacturers using specialist additives.
Borregaard has 20 production units in 13 countries and employs 2,700 people. Revenues for 2003 are estimated to reach NOK 7 billion. Its operating revenues in the first quarter of 2002 totalled NOK 1.527 billion which resulted in operating profit before goodwill amortisation of NOK 140 million, over 10% better than the first quarter of 2001.
Borregaard is a member of the Orkla Group, one of Norway's largest companies. The company's core areas consist of speciality chemicals, fine chemicals and ingredients. Its Additive-A ingredient has been used by brickmakers around the world for many years.
ENDS