Borregaard sells its shares in Suven

19.12.2003: Borregaard has sold its shares in the Indian based fine chemical company Suven Life Sciences. In 2001 Borregaard acquired a minority stake of 17% in Suven.

The investment was done for strategic reasons in order to gain understanding and a foothold in the growing fine chemical industry in India, and to develop a closer connection with Suven, where Borregaard has had a good relationship for many years.
 
Since the investment early in 2001, Borregaard has increased its understanding and knowledge of the Indian fine chemical industry, and has developed relations to several Indian companies supplying the pharmaceutical industry.
Borregaard therefore no longer sees that it is necessary for strategic reasons to keep or expand its stake in Suven. Borregaard continues to see the Indian fine chemical industry as important and will, based on its existing network, continue to further develop its relationships, with Suven and other selected fine chemical companies.