May 23, 2008

Grieg Seafood acquires farm licenses

Grieg Seafood, the largest salmon farming and processing company in Shetland, has announced that it has acquired Collarfirth Salmon Limited through its subsidiary Hjatland Seafarms.

Collarfirth consists of three farm licenses with usable combined discharge consent of 2,100 tonnes.

The acquired farm licenses will boost Grieg Seafood's capacity and flexibility for an even more consumer-tailored salmon production in future, said Per Grieg, the company's CEO.

The three Collarfirth sites are all located on the east side of Shetland.

Grieg Seafood subsidiaries Hjaltland Seafarms Ltd, Lerwick Fish Traders Ltd and Shetland Products Ltd already produce, sell and market over 30 percent and process over 50 percent of Shetland's total salmon production.

This latest acquisition will increase the company's farm site production capacity, but will not boost the harvest guidance for this year, which will remain at about 16,000 tonnes.

The company is forecasting to increase harvesting to about 21,000 tonnes gutted weight by 2011.