May 5, 2008

Norway's Cermaq acquires Chilean feed plant

Norwegian aquaculture group Cermaq ASA, through its wholly-owned subsidiary EWOS Chile Alimentos Ltd, has agreed to acquire a fish feed plant in Ancud, Chile.

EWOS will purchase Cultivos Marinos Chiloe Ltda in a deal worth US$13.75 million. The aquisition also includes a cooperation agreement under where EWOS will supply Cultivos Marinos Chiloe with 400,000 tonnes of fish feed for the next five years.

The Ancud plant, located on Chiloe Island, has an annual capacity of 90-100,000 tonnes. 

Cermaq, based in Oslo, Norway, is a major aquaculture company, focusing on the salmon and trout production and fish feed manufacture. The group has some 4,000 employees and reported revenue of over NOK 7.7 billion (US$1.5 billion) in 2007.