Solid Q2 output from Grieg Seafood

The latest trading update said that, in addition, Grieg successfully harvested a batch of 610 tons of fish from its Årdal Aqua joint venture, which was fully grown at the land-based facility before it was put to sea.

Grieg, is of course now a much slimmed down operation after it sold its Canadian and its Finnmark Norway businesses to Cermaq last year for NOK 10.2 billion (£777m) on a cash and debt free basis.

The group, which continues to be a force in Norwegian aquaculture, has been listed on the Oslo Stock Exchange since 2007.

The group’s current farms are located in Rogaland in Norway with its headquarters in Bergen.

Grieg’s joint venture partner, Årdal Aqua, is building a massive land-based salmon facility in the Rogaland region of Norway. The project utilises a recirculating aquaculture system (RAS) and is backed by a NOK 200 million (£15m) construction deal with the AKVA group.

Ardal Aqua, located in Vestland county, is jointly owned by Grieg Seafood, Vest Havbruk, and the investment group Omfar.

Earlier this year, the company asked the AKVA group to design and deliver the next phase of the smolt facility expansion. The site is expected to produce six million 100-gram smolt annually. 

A few weeks ago Grieg was listed as one of Norway’s best places to work. The complete half-year report will be published on 27 August.