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New Cooperation in Greek Aquaculture

by 5m Editor
9 September 2009, at 1:00a.m.

GREECE - Two of the largest companies in the aquaculture sector in Greece have drawn up a cooperation agreement over the supply of fish feed.

Athens Stock Exchange listed Dias Aquaculture S.A and the Greek subsidiary of the international fish feed group BioMar, are developing their cooperation with the aim of strengthening of their positions in the markets of Greece and the Mediterranean.

Dias has agreed to buy the majority of its fish feed needs totalling €30 million a year in the coming years from BioMar.

BioMar has also agreed to acquire 25 per cent of the shares of Zoonomi S.A, a fish feed company largely owned by Dias, for € 2.5 million.

The management of the two companies said the agreement is the first step towards a bigger and wider cooperation to the benefit of both companies.

Dias said it is securing the supply of high quality fish feed in alliance with a major international company specialised in fish feed and with huge experience and broad research for the development of new improved and more economic fish feeds.

Dias will focus on its further growth in the production and sales of fish which is the core business of the company.

With its cooperation with Dias, BioMar said it has secured a strong base for its further profitable growth in the area of East Mediterranean.

This model represents a new type of cooperation in Greece between independent professional companies in the value chain.

Dias said it can concentrate on developing its farming activity and Biomar can continue to develop fish feed based on its international position through its sourcing, nutritional knowledge and technological competences.

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