The sale is to an un-named Norwegian ownership group in the timber and wood processing industry and takes effect immediately.

Book paper is produced at Borregaard Hellefos in Hoksund, which has a turnover of 16m (NKr190m) and 110 employees.
Borregaard Vafos in Krager produces mechanical pulp with a turnover of around 12m and 55 employees.

The sale will also comprise the sales organisation of these companies.

The combined businesses produced total operating profits of just over 1m in 2003.

The businesses will now form part of a newly established group within the timber and wood processing industry.