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Marine Farms Purchase 2 New Salmon Sites

by Ellen Hardy
07 October 2008, at 1:00am

SCOTLAND, UK - The final agreement has been signed for LakelandMarine Farms Ltd to purchase 2 salmon licences, including equipment, from LighthouseCaledonia.

The two new licences will increasing annual production capacity by approximately 1,500 tonnes gwt salmon (+15%). The Licences are located only 1-3 km from Lakeland Marine Farms existing sites in Argyle, west of Glasgow, and there should be significant synergies in operating the sites together.

Lakeland's operation in the Argyle has historically generated excellent results, both production and earnings wise.

In addition to the two licenses, applications for two new sites in the same area has been transferred to Lakeland Marine Farms Ltd. Pending approval from the Scottish authorities, annual production capacity may increase by an additional 1,300 tonnes gwt salmon. Final approval is not given.

Marine Farms say that the increased production will be utilised to satisfy the continuing increased demand from Lakeland's customer base, strengthening Lakeland's position as a producer of high quality products for a discerning market segment. The transaction is valued at 2.45 million

Ellen Hardy