News 345 views last update:6 Aug 2012

Cermaq acquires fish feed plant in Chile

EWOS Chile Alimentos, a wholly-owned subsidiary of Norwegian aquaculture group Cermaq, has agreed to acquire a fish feed plant from Cultivos Marinos Chiloe in Ancud, Chile for $13.75 million.

The acquisition of the plant is subject to certain conditions including the completion of a satisfactory due diligence process.

However, an agreement to lease the plant for a period of 10 years is effective immediately, and this agreement will remain in force until the acquisition of the feed plant has been completed.

The parties have also signed a cooperation agreement under which EWOS will supply Cultivos Marinos Chiloe with 400,000 tonnes of fish feed over five years.

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

Cermaq,  headquartered in Oslo, Norway, is an aquaculture group focusing on the farming of salmon and trout and the production of fish feed. The group has some 4,000 employees and reported revenue of over NOK7.7bn ($1.5bn) in 2007.

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