Marine Harvest ASA : MHG - RESTRUCTURING PLAN FOR MARINE HARVEST VAP EUROPE

 Marine Harvest ASA : MHG - RESTRUCTURING PLAN FOR MARINE HARVEST VAP EUROPE

As part of the dedication to become an integrated protein company, Marine
Harvest has a strong commitment strengthen the value added products (VAP)
activities. The Group is determined to have the most cost efficient VAP
organisation in Europe, and increase efficiency, new technology and more
automated operations is required to reach this objective. As a consequence, a
restructuring plan for VAP Europe has been approved and will be implemented by
the spring of 2014.

The plan includes reducing the number of processing sites in Europe from 13 to
8. This will affect sites in France, Benelux and Poland. Of the  approximately 
2,400 employees in VAP Europe, about 450 will be affected by the restructuring
plan. Marine Harvest  VAP Europe  will engage in  consultations with  employee 
representatives at affected sites. A provision of EUR 27 million will be  made 
in the second quarter to cover costs associated with the implementation of the
restructuring plan.

The expectation is  that all business  activities will be  retained, and  that 
volumes will  be allocated  to the  remaining sites  situated in  France,  the 
Netherlands, Belgium  and  Poland.  These sites  will  be  strengthened  going 
forward to  accommodate  increased  efficiency,  throughput  and  end-customer 
orientation.

For enquiries please contact:

Alf-Helge Aarskog, CEO +4790597529

Ivan Vindheim, CFO +4795871310

This information is subject of the disclosure requirements acc. to §5-12  vphl 
(Norwegian Securities Trading Act)

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Source: Marine Harvest ASA via Thomson Reuters ONE
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