Marine Harvest ASA: Morpol - A milestone for the Marine Harvest Group
(Bergen 1. October 2013) The EU Commission has approved the Morpol
transaction. This is an important step towards our goal of becoming a fully
integrated protein company.
-Marine Harvest is very pleased to announce that Morpol now will become part
of the Marine Harvest Group, says CEO of Marine Harvest, Alf-Helge Aarskog.
Morpol is well known as an innovative producer of value added seafood
products. The products are characterized by outstanding and consistent quality
backed by reliable year-round deliveries from a closely managed, fully
traceable and sustainable supply chain.
-Morpol offers complimentary benefits to today's Marine Harvest. Morpol's
activities and large range of high quality products fit very well with Marine
Harvest's current processing business as well as our downstream strategy.
Morpol will give our innovation and product development a strong boost.
Together we can develop even more innovative and delicious seafood products
for the consumer market, comments Alf-Helge Aarskog.
Morpol will remain listed on the Oslo Stock Exchange for the time being under
the ticker code MORPOL. With the approval of the transaction, Marine Harvest
can exercise normal shareholder rights relating to its 87.1% ownership in
The transaction complements existing production in Scotland with an increased
production capacity of 6000 tonnes and Norway with an increased capacity of
7,000 tonnes. In addition the transaction opens up valuable new geographical
areas for Marine Harvest. Morpol is established in Troms County in Norway,
which will be an important area for Marine Harvest to pursue future growth in
As remedies for approving the transaction, Marine Harvest has agreed to divest
farming capacity in Shetland with 11,000 tonnes and Orkney Islands with 7,000
tonnes. Furthermore, the company has agreed to divest freshwater capacity and
primary processing plants in the same areas. Based on previous transactions,
this was - as a measure of precaution - already anticipated by the company and
a process to fulfill the remedies will be initiated.
In a comment, Marine Harvest Chairman Ole-Eirik Lerøy says:
-The purchase of Morpol is in line with Marine Harvest's strategy of forming
an innovative and integrated protein group. Our established position within
salmon farming will be further complemented and our presence within value
added processing activities will take a giant leap. The Board believes that
this will provide significant operational benefits, as well as boosting and
stabilizing the long term earnings power of the group.
Marine Harvest Group will after the transaction count 10,200 employees. The
production estimates for Marine Harvest Group for 2014 exeeds 400,000 tonnes.
Contacts Marine Harvest:
Mr. Alf-Helge Aarskog, CEO: +47 905 97 529 (cell)
Mr. Ivan Vindheim, CFO: +47 958 71 310 (cell)
Mr. Ole-Eirik Lerøy, Chairman of the board: +47 995 35 566 (cell)
About Marine Harvest:
Marine Harvest Group is one of the world leading seafood companies and an
important producer of farmed salmon, with presence in 22 countries and a total
of 10,200 employees worldwide. Marine Harvest ASA is headquartered in Bergen,
Norway, and is listed on the Oslo Stock Exchange under the ticker code MHG.
Please see www.marineharvest.com for further information.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of Thomson
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information contained therein.
Source: Marine Harvest ASA via Thomson Reuters ONE
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