Cermaq enters feed production in Vietnam
(Thomson Reuters ONE) -
(Oslo 2010.12.17) Cermaq has today signed a joint venture agreement with the
local partner, Anova Corporation, in Vietnam. Through its feed operations, EWOS,
Cermaq is entering operations in the Vietnamese feed market.
Through acquisition of shares and a share issue, Cermaq has obtained 51 percent
of the shares in the joint venture company. Cermaq will control the Board of
Directors and the management team. Mr. Rune Vamråk, supply chain director of the
Norwegian company EWOS AS, is appointed as general manager for the company.
By this agreement EWOS enters the feed market for farmed Pangasius. The broad
competence the company has within salmonids can be successfully transferred to
Pangasius, a white fish that has enjoyed a tremendous market growth in Europe
and the US over the last decade. Pangasius eats feed which is made mainly from
plants, and can supply significant volumes of sustainable marine protein to the
global food market.
The venture partner Anova Corporation is established in Vietnam with a plant in
the Long Anh province. The plant which will be transferred to the joint venture
company as a part of the transaction has an annual capacity of 85,000 tonnes.
EWOS Vietnam has considerable ambitions for the Vietnamese market and the goal
is to utilize the full capacity of the plant within the first operating year.
The company has engaged the highly esteemed Pangasius expert Mr. Serene, for the
initial phase of market building.
The farming of Pangasius in Vietnam is around 1.8 million tonnes. The major part
of this volume is exported as fillets, reaching around 600,000 - 700,000 tonnes
annually. Farming of Pangasius is predicted the highest growth globally of
farmed species the next decades.
- Vietnam is the fish feed market for the future. We are well
prepared, and look forward to employ our competence also outside the scope of
salmonids, says Kjell Bjordal, COO for Cermaq's feed operations, EWOS.
Through its establishment in the Vietnamese market EWOS can contribute with its
competence related to food safety and sustainability. Furthermore EWOS will
utilize its research based knowledge within fish nutrition, raw materials and
food production to produce a more cost efficient feed than what is currently
available in the Vietnamese market.
- We believe that the farming of Pangasisus can be strengthened through
optimizing the feed, focusing on feed technology, nutrient requirements, and
fish health, Mr. Bjordal emphasizes.
The agreement that gives Cermaq a limited access to an extensive market
represents a first investment close to USD 6 millions.
Further information - please contact:
Kjell Bjordal, Chief Operating Officer, fish feed, phone: +
47 55 69 70 94, mobile: +47 906 79 837
Einar Wathne, Deputy COO, fish feed, phone: +
47 55 69 70 02, mobile: +47 958 67 817
About Cermaq
Cermaq is an international group of companies with activities in fish farming,
production of salmonid feed and research in aquaculture. Cermaq has operations
in Norway, Chile, Canada and Scotland, the main geographic regions for salmon
and trout farming. Through its EWOS subsidiary, Cermaq ranks as the world's
second largest producer of feed for salmonids. The Mainstream subsidiary is one
of the world's leading farming companies of salmon and trout. The group had
sales of around 9 billion in 2009, and employed 2 796 end of September 2010.
Cermaq is listed on the Oslo stock exchange with ticker code CEQ
www.cermaq.com
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Source: Cermaq ASA via Thomson Reuters ONE
[HUG#1473695]
Datum: 17.12.2010 - 12:43 Uhr
Sprache: Deutsch
News-ID 49841
Anzahl Zeichen: 4495
contact information:
Town:
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Kategorie:
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"Cermaq enters feed production in Vietnam"
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