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« เมื่อ: สิงหาคม 26, 2010, 07:02:05 PM »

Morpol acquires organic salmon producer

NORWAY
Thursday, August 26, 2010, 04:40 (GMT + 9)

World leader in smoked salmon the Morpol Group confirmed the closing of Mainstream Scotland purchase took place as scheduled on Wednesday. The financial results of Mainstream Scotland were consolidated into Morpol ASA starting on 1 August.

The company also announced the acquisition of the total assets of Westray Salmon Limited in Orkney, Scotland, including licenses, fixed assets and the biomass. Westray owns five farming licenses holding a total capacity of some 2,800 tonnes.

Mainstream Scotland, the main salmon producer in the Orkney Islands, was sold for EUR 44.2 million. Morpol now owns 100 per cent of the company.

The combined Morpol - Mainstream Scotland companies will turn into a unique vertically integrated player in the salmon aquaculture and processing industry.

Regarding Westray Salmon, Morpol said that this company raises organic salmon with an annual production of about 500 tonnes this year.

Morpol will merge the assets of Westray Salmon with the Mainstream Scotland operations and use only three of the Westray licenses. Said licenses to be farmed possess a combined capacity of 2,500 tonnes, with the remaining two licenses being too small to be considered economically viable at this time.

It is expected that 1,400 tonnes of sales volume, including a percentage of organic volume, will be added to Mainstream’s volume beginning in 2012. The purchase price for the transaction is GBP 3.28 million (EUR 4 million).

The Mainstream Scotland acquisition was settled with cash. Approximately 200 tonnes of organic salmon will be sold in what remains of the year.

Additional information on the farming acquisitions will be provided at the quarterly presentation to take place on Tuesday in Shippingklubben, Oslo.

The Morpol Group processes salmon and sells and distributes finished salmon products. Its main products are cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties.

Morpol Group had revenue of approximately EUR 340 million last year.

The company employs over 3,000 people in eight countries serving customers across Europe, in Japan and the US and is the world leader in smoked salmon.

Related article:

- Salmon leader buys Mainstream Scotland

By Natalia Real
editorial@fis.com
www.fis.com

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