€100m growth related loan facility secured for Arnarlax

Icelandic Salmon has successfully secured a sustainably linked €100m (£87m) bank facility through its subsidiary Arnarlax. Chief financial officer Jónas Heiðar Birgisson said the facility will support the company’s growth strategy and enhance operational flexibility. It is also aimed at refinancing existing loans. The arrangement was carried out in collaboration with DNB, Danske Bank, and…

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Norway’s “big five” settle Canadian price fixing case

FIVE of Norway’s largest salmon breeders have entered into a multi-million Canadian dollar price fixing case settlement following a class action over the border in the United States. It follows a civil case involving claims brought by two Canadian consumers. It means the five, Mowi, SalMar, Grieg Seafood, Cermaq and the Lerøy Seafood Company, will…

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Grieg could raise up to £125m from Shetland sale, analysts say

The sale of Grieg Shetland could net the parent company up to £125 million, analysts in Oslo are predicting. They put the price on Grieg Seafood’s Scottish operations at between a billion and 1.5 billion kroner – and possibly more if there is a bidding war. Danske Bank Markets analyst Ivar Bakken said Norskott Havbruk…

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SalMar reports profits up for Q3 2020

Fish farming giant SalMar has delivered exceptionally strong third quarter results, with a better than anticipated performance from its associate business Scottish Sea Farms, in which it has a 50 per cent share with Leroy Seafood. In what has been toughest quarter yet for salmon farmers, the group today announced an operational EBIT of NOK…

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Arnarlax goes public and changes name

AFTER more than a decade as Arnarlax, Iceland’s largest salmon farming company, is changing its name to Icelandic Salmon AS. It is thought the new name, which will apply to its Norwegian holding company, will give it a clearer identity. But a more important development is a decision, backed by its main investor SalMar, to…

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Salmar faces Ocean Farm escape probe

Salmon farming giant SalMar is facing an official investigation following the escape of salmon from its giant offshore platform Ocean Farm 1. It is not yet known how many fish became free, but Norway’s Directorate of Fisheries said it cannot rule out the possibility of a major escape at the site. The Directorate said in…

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SSF serves up profit for SalMar

Following losses at the start of the year, Scottish Sea Farms (SSF) produced a modest second quarter profit for salmon farming giant SalMar, the Norwegian company has revealed in its latest financial report. SSF, also known as Norskott Havbruk and which SalMar shares with the Lerøy Seafood Group, returned revenues of NOK 465 million (£39.4…

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Ocean Farm 1 gets new licences

THE salmon farming group SalMar has been give the go-ahead to convert eight development permits into fish production licences for its giant revolutionary offshore ‘sea cage’ known as Ocean Farm 1. The decision by the Norwegian Directorate of Fisheries, follows a comprehensive investigation and full report which is open to examination. The announcement was welcomed…

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Salmar announces \’best ever\’ Q1 results

EFFORTS to deal with long standing biological problems at Scottish Sea Farms negatively impacted on its performance at the start of this year, Norwegian salmon giant SalMar reports with its 2020 Q1 results today. The company has a 50 per cent stake in the UK-based operation which it calls Norskott Havbruk and which it shares…

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Salmar announces \’best ever\’ Q1 results

EFFORTS to deal with long standing biological problems at Scottish Sea Farms negatively impacted on its performance at the start of this year, Norwegian salmon giant SalMar reports with its 2020 Q1 results today. The company has a 50 per cent stake in the UK-based operation which it calls Norskott Havbruk and which it shares…

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