January 10, 2014

Cermaq, which now ranks as the world's third largest salmon producer in volume, emphasises its aim to get the second spot occupied by Leroy Seafood Group, as Marine Harvest tops the list.

Jon Hindar, CEO of Norwegian salmon producer Cermaq, said 2014 will be a tense year on the all-Norwegian top ranking of the global farmed salmon industry.

Cermaq has set itself a target of 161,000 tonnes salmon (coho, trout and Atlantic salmon included) production for this year. In comparison, Leroy produced 220,000 tonnes of fish in 2012, of which 71.8%, or 157,960 tonnes, consisted of salmon.

During a corporate presentation at the Skandinaviska Enskilda Banken seminar this week, Hindar said the company aims to take the second spot through "organic and non-organic growth".

As for its stance on mergers and acquisitions and its position as "at the table or on the menu", Hindar said the company "believes in industry consolidation and is open to transactions which create shareholder value".

Back in December, a representative of Norway's ministry for the industry said that the state was "determined" to sell its 59% stake into Cermaq but was "in no rush" to close a deal because Norwegian public finances have avoided the debt pressure most European governments still endure.