Pelagic fisheries. (Photo Credit: Austevoll Seafood)

Green light for new pelagic amalgamated company

The transaction between Austevoll Seafood ASA (AUSS) and Kvefi AS (Kvefi) to amalgamate activities within the pelagic fish meal, fish oil and human consumption in Europe, has been approved by all relevant competition authorities.

Under the agreement reached, AUSS and Kvefi each becomes owner of 50 per cent of the shares of the company Pelagia AS (Pelagia), which will continue the amalgamated business.

Egil Magne Haugstad has been appointed as CEO in Pelagia, while the new Board of Directors of Pelagia consists of Helge Singelstad (Chairman), Helge Moen, Arne Møgster, Gustav Witzøe and Helge Møgster.

The following companies are included in the transaction, and will be wholly owned Pelagia, which will have its headquarters in Bergen:

Welcon Invest AS (Welcon) is engaged in the production of fishmeal, protein concentrates and fish oil in Norway, UK and Ireland. Welcon presently has six production facilities for fishmeal and fish oil, and three facilities for production of protein concentrates and oil.

In addition, Welcon has a facility with significant storage capacity in Egersund approved as a border station for importation of protein and oils from third countries. Welcon employed 249 full-time equivalents in 2012, and is led by Arne Møgster.

Norway Pelagic Holding AS, ex. Norway Pelagic ASA (NPEL), is engaged in landing, refining and sale of pelagic fish for human consumption and has 13 production facilities in Norway, from Honningsvåg in the north to Sirevåg in the south. In addition, NPEL owns 50 per cent of a production facility in Shetland. The company employed 415 full-time equivalents in 2012, and is led by Tor Vikenes.

Egersund Fisk AS (Egersund) is the holding company in a group comprising production of fishmeal and fish oil, as well as landing, refining and sale of pelagic fish for human consumption. Egersund has a production facility for fishmeal and fish oil in Egersund, Norway, as well as two production facilities for landing and refining of pelagic fish for human consumption in Egersund and Tromsø respectively.

In addition, Egersund has a facility in Skagen, Denmark, for refining. Egersund owns 50 per cent of Norsildmel AS which is engaged in sale and purchase of fishmeal, fish oil, concentrates and related products. Norsildmel is treated as associated company (equity principle) in Egersund's accounts. Egersund is also part owner of two vessels with pelagic quota fishing rights. Egersund employed 217 full-time equivalents in 2012, and is led by Egil Magne Haugstad.

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Address:	Alfabygget
City:	Storebo
State/ZIP:	(N-5392)
Country:	Norway
Phone:	+47 56 18 10 00
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