Salmon smolts. (Photo: Stock File)
Russian Aquaculture purchases another smolt production facility in Norway
RUSSIAN FEDERATION
Wednesday, October 25, 2017, 01:10 (GMT + 9)
Aquaculture firm Russian Aquaculture announced it has settled a deal for acquisition of a second smolt production facility in Norway, Olden Oppdrettsanlegg AS.
The facility, which has been operating since 1995 and that has been one of the main suppliers of the Russian firm, utilises a flow-through system and can produce up to 2 million Atlantic salmon and trout smolt annually.
Russian Aquaculture views this acquisition as an important step towards building an efficient vertically integrated holding and achieving the Company’s strategic goal of producing up to 25-30 thousand tonnes of red fish by 2025.
Olden Oppdrettsanlegg had a turnover of EUR 2.2 million and an EBIT margin of 19 per cent in 2016.
The Company views this acquisition as an important step towards building an efficient vertically integrated holding and achieving the Company’s strategic goal of producing up to 25-30 thousand tonnes of red fish by 2025.
Together with Villa Smolt, which Russian Aquaculture acquired earlier this year, the Company now has its own smolt to cover a material part of its supply needs, significantly reducing operating costs and biological risks.
On top of that, this acquisition shows that the Company is implementing its strategy aimed at increasing operational efficiency and maintaining profitability in the long-term.
“In a relatively short period of time we have made two important steps towards securing the stable supply with our own smolt. I am confident that this investment will strengthen our market position as well as decrease operating costs and biological risks. We are very happy to have acquired this first-class asset, and welcome the opportunity to work together with Norwegian colleagues who are among our longest-standing partners,” said Ilya Sosnov, CEO of Russian Aquaculture.
Related article:
- Russian Aquaculture acquires Norwegian smolt company
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