October 19, 2006

Grieg Seafood AS and Volden Group to merge

Grieg Seafood A/S and Volden Group have agreed to a merger to form Norway's third largest fish farming company under the name Grieg Seafood A/S.

The new company would base its main activities in Rogaland, Finnmark and Canada, according to the Norway Post.

The plan is for Grieg Seafood to increase turnover by 50 percent in the course of the first three years.

This year's production looks to reach 27,000 tonnes of trout and salmon, but already in 2008 it is estimated that the new company would nearly double to 55,000 tonnes.

Norway's two largest fish farming companies are PanFish and Leroey.