New fish farm merger

NORWAY - The boards of Grieg Seafood AS and Volden Group have agreed to merge, forming Norway's third largest fish farming company, under the name Grieg Seafood AS.

The new company will base its main activities in Rogaland, Finnmark and Canada, Stavanger Aftenblad reports.

The plan is for Grieg Seafood to increase turnover by 50 per cent in the course of the first three years.

This year's production looks to reach 27,000 tos of trout and salmon, but already in 2008 it is estimated that the new company will reach a production of 55,000 tons.

Source: The Norway Post