Norway Royal Salmon and Grieg Seafood join forces to secure smolt capacity in Finnmark. This is done by NRS and GSF entering as owners of Nordnorsk Smolt AS with 50 per cent each. Nordnorsk Smolt AS is a hatchery located in Hasvik (Finnmark) and supplies big smolt. The plant has a production capacity of 800 tonnes per year. This corresponds to an annual production of about 3.2 million fish weighing 250 grams. It will be possible to expand the capacity to around 2 000 tonnes by developing the plant. The transaction values the company at an enterprise value (EV) of approx. NOK 100 million. The acquisition of the plant will ensure good access to big smolt which will contribute to better production optimization and shorter production time in the sea. The investment in the plant is in accordance with the companies' strategy to strengthen smolt production.
For more information, please contact:
· CEO Charles Høstlund, +47 994 18 449
· CFO Ola Loe, +47 911 79 411.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.