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Marine Farms Acquires Salmon Licences in Scotland

SCOTLAND - A subsidiary of Norwegian aquaculture company Marine Farms ASA, Lakeland Smolt Ltd, has agreed to acquire two salmon licences at Loch Melfort in Scotland from Lighthouse Caledonia ASA.

The £2.45 million deal covers two licences located a few kilometres from Lakeland Smolt's existing sites in Argyle, and includes equipment.

The new licences will increase Lakeland Smolt's annual production capacity by 15 per cent to 1,500 tonnes of salmon.

In addition to the two licences, Lakeland Smolt will also take over applications for two new sites in the area.

If the applications are approved by the Scottish authorities, Lakeland Smolt's production could increase by an additional 1,300 tonnes.

For Lighthouse Caledonia the transaction is part of its consolidation and restructuring plan which will reduce the total number of farm locations without reducing the overall production volume.

Marine Farms, based in Bergen, Norway, has fish farming operations in Norway, the UK, Spain, Belize and Vietnam. The company has some 500 employees and reported sales of NOK735.4 million (Kroner) in 2007.