Cermaq acquires fish feed plant in Chile
EWOS Chile Alimentos, a wholly-owned subsidiary of Norwegian aquaculture group Cermaq, has agreed to acquire a fish feed plant from Cultivos Marinos Chiloe in Ancud, Chile for $13.75 million.
The acquisition of the plant is subject to certain conditions including the
completion of a satisfactory due diligence process.
However, an agreement
to lease the plant for a period of 10 years is effective immediately, and this
agreement will remain in force until the acquisition of the feed plant has been
completed.
The parties have also signed a cooperation agreement under
which EWOS will supply Cultivos Marinos Chiloe with 400,000 tonnes of fish feed
over five years.
The Ancud plant, located on Chiloe Island, has an annual
capacity of 90-100,000 tonnes.
Cermaq, headquartered in Oslo, Norway,
is an aquaculture group focusing on the farming of salmon and trout and the
production of fish feed. The group has some 4,000 employees and reported revenue
of over NOK7.7bn ($1.5bn) in 2007.
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