Norpalm AS Fact Sheet

(Sist oppdatert: 06.09.2017)

Name: Norpalm AS 
Established: 1996
Status: Norwegian Limited Liability Company
Norwegian Business Registration No: 976 957 105

Registered address:
Andøytoppen 18,
4623 Kristiansand,
Norway.

Key persons:
• Truls W. Eriksen (Board Chairman) - truls.eriksen@norpalm.no
• Kjell Helge Godtfredsen (Board Member) - godtfredsen@norpalm.no
• Lars Berge Andersen(Board Member) - Lars.Berge.Andersen@sands.no

Telephone: + 47 97022578
Mail address: post@norpalm.no

 Norpalm AS (NOPA) – Norpalm ASA until 12 May 2005 – was established in Kristiansand, Norway on 1 November 1996 with the objective of becoming an active industrial player, exporting and importing, and/or participate in corresponding activities in Norway as well as internationally. The first investment was done in 1997 through the acquisition of a palm oil plantation and mill in Ecuador, managed by a NOPA founded company called Palmera Noruega Ecuatoriana S.A (Palnorec). In 1998-99, NOPA tendered for the assets of National Oil Palms Ltd. in Ghana through Norpalm Ghana Ltd. (NGL) as the vehicle. NOPA won the tender and took charge of all operational activities from September 2000.

After some difficult and challenging years, NOPA divested from Palnorec in 2007 to concentrate fully on the development of NGL. Low CPO and PKO prices coupled with land issues made the initial years after 2000 very challenging. With the exception of year 2004, both NGL and NOPA incurred heavy losses each year until commodity prices re-bounced from year 2007. Thereafter, both companies have been profitable and NGL has been able to gradually develop and modernise its plantation and mill to one of the leading palm oil companies in Ghana.

Today (May 2013), NOPA is quoted on the OTC B list in Oslo, Norway. Of the 300 shareholders, 60% of the shares are held by the 20 largest shareholders.

NGL is owned 68.6% by NOPA, the remaining shares owned by PZ Cussons Ghana Ltd., NOPA’s partner in Ghana since year 2003.

Our objective remains: To continue to support our Ghanaian subsidiary NGL in the development of its oil palm plantation and oil palm mill. And continuously to perfect and expand in order to strengthen its position as one of the key players in the Ghanaian palm oil industry.

 

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