January 25, 2008
 
Norway's Cermaq cuts its 2008 fish production forecast
 

Cermaq also said its fourth-quarter output was below its previous forecast.

The original forecast was 80,000 tonnes but it has been cut to 68,000 tonnes due to fish disease in Chile.

Cermaq also stated that production situation has worsened during the fourth-quarter as growth rates were lower than expected, and it is likely to remain so for the whole 2008.

Cermaq's fourth-quarter forecast was 42,000 tonnes, but total fish sales from the company's fish farms in Norway, Canada, the UK and Chile, came to only 35,000 tonnes.

The company have operations in Canada, Chile, Norway, and Scotland.

The Norwegian government originally held close to 80 percent of Cermaq, but sold most of it in an IPO in 2005. The company is now 34 percent government-owned.