Borregaard: Successful re-capitalisation of Spanish lignin partner Sniace

Sniace S.A., Borregaard's partner in Spain and supplier of lignin raw material to LignoTech Ibérica, has successfully completed the re-capitalisation of the company. All the offered shares have been subscribed, corresponding to a total cash amount of approximately EUR 15.6 million, according to information from Sniace. Borregaard has not contributed to the re-capitalisation.

According to the plan, Sniace will initiate comprehensive maintenance work before resuming operations. In the first phase, the pulp mill will produce market pulp for the textile industry. In the second phase, the aim is to start up the viscose fiber plant on site. This is expected to bring the production of pulp and hence lignin raw material up to full capacity, corresponding to 65,000 tons of lignin per year.

For background information please see Borregaard's stock exchange notices from 26 June, 25 July and 8 September 2013 and 21 March 2016 ( Download center / Investor / Borregaard - Borregaard ).

Contact:
Jørn Syvertsen, Director Investor Relations, +47 958 36 335

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.



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Source: Borregaard via GlobeNewswire

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