July 4, 2008


Lakeland Smolt acquires additional salmon licenses

UK aquaculture company Lakeland Smolt has agreed to acquire two salmon licenses at Loch Melfort in Scotland from Lighthouse Caledonia ASA.


The GBP 2.45 million (US$4.85 million) deal covers two licenses located a few km away from Lakeland's existing sites in Argyle and includes equipment. The deal will also increase Lakeland's annual production capacity by 15 percent to 1,500 tonnes of salmon.


This transaction is part of Lighthouse Caledonia's plan of consolidation and restructuring which will reduce the total number of farm locations without affecting the overall production volume.


In addition, Lakeland will also take over applications for two new sites in the area, which if approved by the Scottish government, could increase the company's production by 1,300 tonnes.


Lakeland Smolt is a subsidiary and integral part of Norwegian aquaculture company Marine Farms.

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