Fjordlaks, Borregaard form omega 3 partnership.

Fjordlaks, Alesund, Norway, and Borregaard, Sarpsborg, Norway, have entered into a long-term strategic agreement for omega 3 oils. Fjordlaks, a seafood-company, will deliver high quality crude fish oils that will be refined and marketed by Borregaard's wholly owned subsidiary, Denomega Nutritional Oils. The resulting taste and odor-free omega 3 products, Denomega, will be sold to the global functional food market. Denomega Nutritional Oils is already using raw material from Fjordlaks for production. Under the new agreement with Fjordlaks, Borregaard plans to build a new oil refinery on Fjordlaks' premises in Alesund. The refinery will be located in close proximity to Fjordlaks' planned new slaughter facility for whitefish, thus making it possible to refine the oil fresh. The co-localization also enables optimal logistics and cost effective operations.