About
Who we are
At Borgestad ASA, we are proud of our long-standing history, which dates back to 1904. Founded by former Norwegian Prime Minister Gunnar Knudsen, Borgestad is an investment company built on a strong legacy of innovation and growth across various industries. Listed on the Oslo Stock Exchange since 1917, we are the longest-listed company in its history. Today, our focus is on two core areas: supporting the delivery of top-quality refractory solutions through our majority-owned Höganäs Borgestad Group and managing real estate development, including full ownership of the Agora Bytom shopping mall in Poland.
Where we come from
1904
Aktieselskabet Borgestad is founded by prime minister Gunnar Knudsen, encompasing the refractory company Boregstad Fabrikker and his interests in three shipping partnerships.
1917
Borgestad Aktieselskab is listed on Oslo Stock Exchange (OSE). Today, more than 100 years later, Borgestad ASA is the longest-listed company on OSE.
1923
The Borgestad shipping fleet is being renewed, and the existing steamships are being replaced with motor-powered vessels.
1940-1945
Six out of Borgestad's eight vessels sank during World War II.
1964
Borgestad enters the car carrier market with the purchase of RORO ships, expanding its shipping history, which had previously been limited to tankers and bulk carriers.
1998
Borgestad acquires Höganäs Bjuf, a Swedish company specializing in refractory materials, along with GZMO in Poland, forming a significant player in the European refractory industry.
2005
The construction of the Forum Gliwice shopping mall in Poland is initiated, marking the beginning of Borgestad's real estate investments.
2006
Borgestad's shipping holdings are sold, marking the conclusion of a long chapter in the company's shipping history.
2007
The Forum Gliwice shopping mall is sold, resulting in a substantial profit from the real estate investment.
2008
Borgestad's refractory industry segment is spun off into a separate entity.
The Agora Bytom shopping mall in Poland opens, with Borgestad holding a 50% stake in the venture.
2013
Subsidiaries in the refractory industry are merged to create what is now recognized as the Höganäs Borgestad Group.
Borgestad acquires the remaining 50% of Agora Bytom.
2018
The Höganäs Borgestad group is reorganized to bring all subsidiary shareholders into Höganäs Borgestad Holding, uniting them in a single holding company to align incentives and strengthen collaboration across the group
2019
Pål Feen Larsen succeeds Christen Knudsen as CEO of Borgestad ASA, marking the end of an era, as Knudsen, a descendant of founder Gunnar Knudsen, has served the company well for many years.
2023
A new Board of Directors is established, with Glen Ole Rødland appointed as Chair. Together with the board, management revitalizes Borgestad's strategy and initiates a series of actions aimed at enhancing profitability within the Höganäs Borgestad Group.
Where we are going
As an investment company, we are focused on working closely with the management teams in our portfolio companies to optimize operations and help them grow. Looking ahead, we are actively seeking niche opportunities where we can consolidate immature segments and establish a meaningful presence, leveraging our strengths and expertise to create value and drive success through active ownership.