Aquaculture for all

Cermaq to Reduce Cost of Atlantic Salmon Production in Chile

Salmonids Husbandry Economics +3 more

CHILE - Cermaq has presented a new strategy to reduce the production cost of its Atlantic salmon production in Chile by 18 per cent in 2015 through comprehensive actions to improve the biological performance.

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"Improved fish health conditions in Chile are a prerequisite for restoring profitability in this important farming region for Cermaq. The strategy we have presented today includes an ambition to reduce our production and downgrading costs for Atlantic salmon with $0.8 per kg in 2015," said CEO Jon Hindar.

The key elements to improve the biological situation include local industry coordination and cooperation, regulatory framework enforcement; especially related to Caligus (sea lice in Chile), and more treatment options now made available to the industry.

"We remain positive to the farming industry in Chile and will actively contribute and support improvement in the industry," underlined Jon Hindar.

Cermaq aims to grow both organically and through selected acquisitions to become the global number two by volume in salmonids, and is well positioned and has the fundamentals in place to create shareholder value.

"Cermaq is transforming into a dedicated fish farming company, and will focus on profitable growth while we remain open to participate in industry consolidation provided industrial merit and shareholder value creation," concluded Jon Hindar.

Cermaq’s Board will 9 December 2013 decide on a call for an extraordinary general meeting 7 January 2014 with an anticipated proposal for an initial extraordinary dividend of around NOK 50 per share based on the proceeds received at closing of the sale of EWOS, with a potential additional dividend at a later stage.

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