23 January 2006 - Borregaard is selling its 100 % equity interest at the fine chemicals company Borregaard Taicang Chemicals (BTC) in Jiangsu province, China to the Japanese company Otsuka Chemical Co. Ltd.
The parties have agreed not to disclose the conditions of transfer. The transaction is estimated to be completed within the 1st quarter of 2006.
The sale of BTC is in line with and part of the earlier announced restructuring of the fine chemicals business in Borregaard. Borregaard will refocus and further develop its core business positions in fine chemicals.