Denmark's Vega Salmon eyes German expansion

Vega Salmon, a Danish fish producer, has plans of building a new fish processing plant into northern Germany.

The company in Handewitt, Schleswig-Holstein, entails an investment of EUR 12 million (US$14.65 million) and is expected to begin operations next year.

Vega Salmon GmbH is the German subsidiary of the privately owned Vega Salmon Group, which specialises in smoked fish - particularly salmon, trout and halibut. The group generates a yearly EUR 31 million (US$37.85) in revenues with products that chiefly target retail markets.

Nearly EUR 3 million (US$3.66 million) in state and EU funding will support the new investment. The company is receiving generous incentives in response to its contribution to regional economic development and European fisheries.