The deal will make Hjellegjerde, whose shares had been traded on the Oslo Stock Exchange, a private company, but provides the contemporary specialist with the capital needed to continue operations, said Olav Inge Røyset, CEO.
      "This is obviously a very important day for Hjellegjerde," said Røyset "The most important short-term course is that Hjellegjerde has added the necessary new equity and has a good industrial owner. It means that we can now focus on future growth."
      According to a filing with the Oslo exchange, Intersil paid 20 million Norwegian krone, or about $3.23 million, for controlling interest in Hjellegjerde.
      In the U.S. market, Hjellegjerde is best known for its Fjords line of Scandinavianstyled recliners.
      The combined entity will have worldwide sales of about 1.25 billion Norwegian krone, or about $202 million.