Oslo -- Elisabet Norderup Michelson, founder of small Norwegian sprayed coatings supplier Elmico, has been awarded a million krone ($170 000), along with the title of Norway's female entrepreneur of the year.
Her company supplies polyurea, epoxy and polyurethane materials, with five employees and a turnover last year of Kr 8 million. The Galterud-based company aims to raise its sales to Kr 12 million turnover in 2012.
On 27 Jan this year, the company opened a new facility in Galterud of over 2000 sq.m, to allow it to expand further - an aim which the prize money will also help with.
The prize was awarded by the secretary of the Norwegian Trade and Industry Ministry Halvard Ingebrigtsen.
As managing director and part owner of Elmico, Michelson is engaged in an international network within the coatings field, and "has a clear strategy for continued international growth for the company," said a statement from the Innovation Norway group. Her technical expertise, managerial powers, and ability to succeed with Elmico's team, have resulted in unique business skills in a challenging sector, the release added.
"She shows that it is possible to take the step from a larger company and focus on what she wanted and believed in a male-dominated industry," added Ingebrigtsen.
PIC Michelson receives her award (centre) with ceo of Innovation Norway, Gunn Oveson (right) and Ingebrigtsen (left)"