Borgestad history

Aktieselskapet Borgestad

1904 - 2006

  Aktieselskapet Borgestad  was founded in 1904 by Prime Minister Gunnar Knudsen with a share capital of NOK 930 000.

The company was a result of the merger of three limited partnerships owning steamships into one company.

Gunnar Knudsen had a 34 percent stake in the company and was elected CEO and sole of director of the company.

Aktieselskapet Borgestad  was listed on the Oslo Stock Exchange in 1917 under the former name Aktieselskapet Borgestad.

Gunnar Knudsen was born in 1848, and he had education as engineer and naval architect.

Gunnar Knudsen was a pioneer within technology, industrial development and shipdesign.

He was a pronounced person in politics through his activities in the liberal party (“Venstre”).

In 1885 Gunnar Knudsen was a co-founder of Porsgrund Porselænsfabrik. In 1887 he founded Borgestad Fabrikker,

and in 1912 Skiens kommunale kraftselskap was founded with initiative from Gunnar Knudsen.

Three generations have been “helmsmen” in the company since Gunnar Knudsens death in 1928, and kept a stable and

focused business development

In 2006 the company sold the shares in Borgestad Shipping AS,and in 2007 the shares of Forum Gliwice was sold.