Marine Harvest listed at New York Stock Exchange
BERGEN, Norway, Jan. 28, 2014 (GLOBE NEWSWIRE) -- Marine Harvest rang the
opening bell at the New York Stock Exchange today, marking the beginning of a
new era for the salmon farming industry.
- This is a big day for Marine Harvest and the salmon farming industry, says
Alf-Helge Aarskog, CEO of Marine Harvest. Together with Chairman Ole Eirik
Lerøy he had the honor of ringing the opening bell at the NYSE today.
Marine Harvest, the world's leading seafood company, is the first aquaculture
company to be listed at the NYSE. The company controls about 22 % of the
global production of farmed Atlantic salmon, the most industrialized and
commercially developed aquaculture specie.
- According to the UN, the world must increase its food production by 70
percent by 2050. As much as 70 percent of the globe is covered by water. Yet,
only six percent of the world's protein supply is sourced from the oceans
today. The potential is enormous, says Aarskog.
Leading the blue revolution
Marine Harvest has chosen "Leading the blue revolution" as its vision. The
company wants to be a leader in cultivating and growing food from the ocean.
- Our vision is to be "leading the blue revolution" - something similar to
what happened 5,000 years ago with the agriculture revolution when people move
from hunting and fishing to agriculture. We want to elevate aquaculture to be
comparable to agriculture and beyond, Aarskog adds.
Number of advantages
Marine Harvest is the first vertically integrated aquaculture company to be
listed on the New York Stock Exchange. Aarskog sees a number of advantages of
being listed at the NYSE.
- The listing gives us exposure to a larger part of the US investment
community, including those who are not mandated to invest in Norway. Marine
Harvest should also benefit from being aligned to the land based protein
companies listed in the US. These companies are generally larger than Marine
Harvest, but we have some superior attributes in terms of margins and growth
prospects which should be attractive to investors, says Aarskog.
- This gives us access to a wider portion of the US investor base. It will
also be beneficiary to have a currency that can be applied in future
consolidation of the industry. We have a good starting point with a market cap
of about USD 5bn and ownership of about 22 % of the global production of
farmed Atlantic salmon, Aarskog adds.
About Marine Harvest:
Marine Harvest is present in 22 countries, has a total of 10,400 employees
worldwide and a market capitalization of approximately USD 5 billion. The
company is headquartered in Norway, and is listed on the Oslo Stock Exchange.
For press enquiries, contact:
Ola Helge Hjetland, communication manager Marine Harvest
+47970 67932, email@example.com
This press release may be deemed to include forward-looking statements, such
as statements that relate to Marine Harvest's position in the seafood
industry, the expected increase in world's food production, the future of the
aquaculture industry and its growth potential, potential benefits to Marine
Harvest from alignment with land based protein companies listed in the US,
Marine Harvest's competitive advantages compared to land based protein
companies listed in the US and Marine Harvest's ability to access US
investors. Forward-looking statements are typically identified by words or
phrases, such as "about", "believe," "expect," "plan," "goal," "target,"
"strategy," and similar expressions or future or conditional verbs such as
"may," "will," "should," "would," and "could." Forward-looking statements are
Marine Harvest's current estimates or expectations of future events or future
results. Actual results could differ materially from those indicated by these
statements because the realization of those results is subject to many risks
and uncertainties. Marine Harvest ASA's registration statement on Form 20-F
filed in 2013, including the section captioned "Risk Factors," contains
additional information about factors that could affect actual results,
including: economic and market risks; environmental risks; operational risks;
product risks; risks related to our acquisitions; financing risks; regulation
risks including relating to food safety, the aquaculture industry, processing,
competition and anti-corruption; trade restriction risks; strategic and
competitive risks; and reputation risks. All forward-looking statements
included in this press release are based on information available at the time
of the release, and Marine Harvest assumes no obligation to update any
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
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