Norwegian Orkla Group has earlier this summer entered into a Letter of Intent with the Chinese company ChemChina to develop the industrial collaboration between the two parties.
Altogether seven Norwegian companies signed agreements with their Chinese counterparts during the ceremony on June 11, facilitated by Trond Giske, the Norwegian Minister of Trade and Industry.
Norway and China have an extensive and growing contact. Nearly 200 Norwegian companies are established in China, and China is Norway’s most important trading partner in Asia.
Norway’s export to China increased by 40 per cent from 2008 to 2009. Orkla has a considerable prescence in China through its subsidiaries Sapa, Elkem and Borregaard, with total sales of more than NOK 1.8bn.
Sapa will inaugurate its new factory in Shanghai in September 2010. Furthermore, Jotun (Orkla owns 42,5 per cent) has significant operations in China.