Increase shareholding in leading Egyptian tilapia feed producer to 100%
(Thomson Reuters ONE) -
Nutreco has signed an agreement to acquire the remaining 67% share held by its
two partners in its Egyptian participation Hendrix Misr. Nutreco entered the
Egyptian market in 2001 by acquiring 33% of Hendrix Misr which has developed
successfully since then. Full ownership of Hendrix Misr offers Nutreco a good
base to expand its activities in this attractive growth market. Egypt is the
world's second largest tilapia producer after China. The Egyptian market for
extruded fish feed is expected to achieve double-digit growth for the
foreseeable future.
Hendrix Misr is Egypt's market leader in extruded fish feed (mainly tilapia)
which is sold under the trade name Skretting, and a leading producer of poultry
feed concentrates. Total revenue in 2012 was approximately EUR 25 million.
Nutreco intends to expand the current fish feed capacity of 25,000 tonnes to
75,000 tonnes by 2015.
Viggo Halseth, Nutreco's Chief Operating Officer Aquaculture: "This acquisition
fits in very well with Nutreco's strategy 'Ambition 2016 - driving sustainable
growth', which aims to expand in growth geographies as well as in fish feed for
non-salmonid species. By moving to full ownership, we are able to accelerate the
next phase of our growth ambition in this attractive market."
Nutreco's 'Ambition 2016 - driving sustainable growth' is to grow and improve
profitability by providing innovative and sustainable nutritional solutions for
its customers and is expected to result in an EBITA of EUR 400 million by 2016.
This will be realised by focusing on a higher added value portfolio of
nutritional solutions such as premixes, feed specialties and fish feed, and by
expanding into the growth geographies of Latin America, Russia, Asia and Africa,
which will see the largest increases in both production and consumption of
animal protein food products.
END OF PRESS RELEASE
Nutreco
Nutreco is a global leader in animal nutrition and fish feed. Our advanced feed
solutions are at the origin of food for millions of consumers worldwide.
Quality, innovation and sustainability are guiding principles, embedded in the
Nutreco culture from research and raw material procurement to products and
services for agriculture and aquaculture. Experience across 100 years brings
Nutreco a rich heritage of knowledge and experience for building its future.
Nutreco employs approximately 10,000 people in over 30 countries, with sales in
more than 80 countries. Nutreco is listed on the NYSE Euronext stock exchange in
Amsterdam and reported annual revenue of EUR 5.2 billion in 2012.
www.nutreco.com
For more information:
Jurgen Pullens, Director Investor Relations
Telephone: +31 (0)33 422 6134
Mobile: +31 (0)6 5159948
E-mail: jurgen.pullens(at)nutreco.com
The full press release is attached in the pdf below
Increase shareholding in leading Egyptian tilapia feed producer to 100:
http://hugin.info/133565/R/1696494/558747.pdf
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originality of the information contained therein.
Source: Nutreco via Thomson Reuters ONE
[HUG#1696494]
Unternehmensinformation / Kurzprofil:
Datum: 26.04.2013 - 07:02 Uhr
Sprache: Deutsch
News-ID 253233
Anzahl Zeichen: 3877
contact information:
Town:
Amersfoort
Kategorie:
Business News
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"Increase shareholding in leading Egyptian tilapia feed producer to 100%"
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